Market Snapshot

Singapore stocks opened higher on Tuesday. STI rose 0.42%; YZJ Shipbldg up 1.85%; Keppel Reit up 1.2%; UOB up 0.85%; ST Engineering down 1%; Riverstone down 3.5%.

Stocks in Focus

SingPost: Singapore Post has ramped up its partnership with global transport company FedEx with the extension of FedEx’s parcel drop-off services to all post offices islandwide. This raises parcel acceptance points from six to 43, the two companies said in a joint statement on Monday (May 19).

DFI Retail Group: The group’s underlying profit for Q1 2025 fell 18 per cent compared with the same period a year ago, due to the divestment of Yonghui Superstores last year. The Chinese supermarket operator contributed US$23 million in earnings in the corresponding period a year ago. Excluding the divestment, the underlying profit of the mainboard-listed group rose 28 per cent for Q1 compared with a year ago. DFI Retail Group said in a bourse filing on Monday that it continues to expect its underlying profit for FY2025 to be between US$230 million and US$270 million, supported by an organic revenue growth of about 2 per cent. The counter closed US$0.04 or 1.5 per cent lower at US$2.69 before the announcement on Monday.

Q&M Dental Group, Aoxin Q&M: The dental services provider said on Monday that its mandatory unconditional cash offer to acquire all the shares it does not already own in its subsidiary Aoxin Q&M at S$0.0321 per share will close at 5.30 pm on Jun 16. Q&M Dental Group, the offeror, does not intend to revise the offer price or extend the offer beyond the closing date. The group added that it has electronically disseminated the formal offer document to shareholders on Monday. Shares of Q&M Dental Group closed 1.5 per cent or S$0.005 lower at S$0.33 on Monday before the announcement, while shares of Aoxin Q&M closed 18.5 per cent or S$0.012 lower at S$0.053 on Monday.

Ossia International: The mainboard-listed company has appointed Asian Corporate Advisors as the independent financial adviser (IFA) for the unconditional offer made by Ossia’s controlling shareholders to take the lifestyle products retailer and distributor private. In a bourse filing on Monday, Ossia’s board said that the IFA will advise the independent directors of the company on its recommendation to the shareholders in connection with the offer. A circular containing the advice of the IFA and the recommendation of the independent directors will be issued by the company to the shareholders within 14 days of the joint offerors issuing a formal offer document setting out the terms and conditions of the offer. Shares of Ossia International closed S$0.001 or 0.6 per cent higher at S$0.161 on Monday before the announcement.

SG Local News

Lady Gaga’s Singapore Mayhem Ball Concert To Bring In 200K Visitors And Up To S$250M In Revenue

Lady Gaga’s “Mayhem Ball” concert in Singapore, her only Asian stop, is expected to draw around 200,000 visitors and generate up to S$250 million in revenue, according to analysts. While the impact may not match Taylor Swift’s Midas Touch, which boosted the city-state’s economy by S$540 million, analysts still expect The Gaga Effect to lift Singapore’s tourism and retail sectors, Singapore Business Review reported.

Lau Kong Cheen, an associate professor at the Singapore University of Social Sciences, expects the concerts to bring in between S$200 million and S$250 million across sectors, including entertainment and tourism. While Taylor Swift’s shows may have brought in higher direct revenue, Mr Lau believes Lady Gaga’s overall impact could be on par.

Singapore Should Focus on Semiconductor Opportunities Despite Trade Challenges: Industry Group

Singapore and its Asean neighbours must stay committed to advancing their semiconductor strategies as most chipmakers will continue to invest worldwide and innovate with or without trade barriers, said Mr Ajit Manocha, president and chief executive of global industry association SEMI.

Mr Manocha said for an industry that is globally interconnected and interdependent, the current trade tensions and policy uncertainty makes the operating environment extremely challenging.

However, growing demand for technology and semiconductors - which powers everything electronic - means chipmakers will look through the ongoing disruption and find the best ways to avail new opportunities.