Market Snapshot

Singapore stocks opened lowr on Wednesday. STI fell 0.5%; Yangzijiang Shipbuilding fell 2%; SIA fell 0.7%; Keppel fell 1%; DBS and UOB fell 0.6%.

Stocks in Focus

DFI Retail Group: The supermarket and retail store operator posted an underlying profit of US$270 million for the year ended Dec 31, 2025, an increase of 35 per cent from US$201 million for the previous financial year. Revenue was flat year on year at US$8.9 billion, the group said in a bourse filing on Tuesday. Shares of DFI rose 2 per cent or US$0.08 to close at US$4.14 before the news.

GuocoLand: A group comprising GuocoLand, Intrepid Investments and TID Residential placed the top bid of S$657.1 million for a 99-year leasehold site near Lentor MRT station, in a state tender that closed on Tuesday. The price translates to S$1,277.71 per square foot per plot ratio. The site is beside the first site awarded in 2021 to GuocoLand, which has been developed into Lentor Modern, comprising 605 private housing units and a mall. Shares of GuocoLand ended at S$2.55, S$0.09 or 3.4 per cent lower on Tuesday.

Wilmar International: The agribusiness said on Tuesday that its Indonesian unit’s head of social security legal Muhammad Syafei has been handed a six-year jail term and a fine of 300 million rupiah (S$22,700). The sentence was for bribing the judges who had earlier acquitted Wilmar subsidiaries of charges related to wrongfully obtaining export permits for oil products. Wilmar shares closed 1.1 per cent or S$0.04 lower at S$3.50 before the announcement.

iFast: The group on Tuesday issued S$120 million worth of fixed-rate notes due in 2031, pursuant to its S$300 million multicurrency debt issuance programme. The notes are expected to be listed on Wednesday and bear interest at a fixed rate of 2.75 per cent per annum. Net proceeds from the issuance will be used for general corporate purposes. The counter closed 0.9 per cent or S$0.08 down at S$9 before the news.

Q&M Dental: The company announced on Wednesday that it entered into a non-binding memorandum of understanding in relation to a proposed acquisition of a dental group in Singapore. Q&M intends to acquire 100 per cent of the issued share capital of this dental group. Shares of Q&M ended at S$0.525, S$0.005 or 1 per cent higher on Tuesday.

Geo Energy Resources: Geo Energy Resources requested a trading halt on Wednesday pending an announcement.

SG Local News

Sea Shares Tumble as High Costs, Slower Annual GMV Growth Forecast Bite

Singapore's Sea reported ​a sharp rise in quarterly operating expenses on Tuesday, ‌amid heavy spending to fend off competition in the Southeast Asian ecommerce industry, sending its U.S.-listed shares down 16.5%.

The costs ​reflect the conglomerate's efforts to attract consumers to its ​platform, Shopee, through incentives such as discounts, offers and ⁠loyalty benefits, as rivals such as TikTok Shop expand their ​businesses as well.

The company expects Shopee's annual gross merchandise value - a ​measure of the total value of products sold on the platform - to grow by 25% this year, which is lower than its 26.8% increase in ​2025.

Singapore Taps JPMorgan, UBS to Push Regional Gold Hub Ambition

Singapore is cranking up efforts to turn itself into a regional gold hub, tapping local and international banks including JPMorgan Chase & Co. and UBS Group AG to help boost liquidity and make the most of demand from wealthy investors, Bloomberg news reported.

The Monetary Authority of Singapore has had meetings with lenders over recent months to assess the potential of the city-state as a physical trading hub, according to people familiar with the matter. They asked not to be named as the plan is not yet public.

UBS and JPMorgan are two of the world’s largest market makers for bullion. ICBC Standard Bank Plc, a clearing bank for the London gold market, is also involved, together with Singapore’s DBS Group Holdings Ltd., United Overseas Bank Ltd., and Oversea-Chinese Banking Corp, the people said.

Singapore’s AI Mission Includes Training Lawyers, Prison Inmates

Singapore is on a quest to uplift its workforce by equipping lawyers, accountants and even prisoners with artificial intelligence skills.

Under a national program, the city-state aims to strengthen the AI capabilities of 100,000 workers and 10,000 businesses over the next three years, Minister for Digital Development and Information Josephine Teo told parliament on Monday.

“Often, the technology is ready but the people are not,” Teo said. “Not all of us can be AI engineers. But we can be bilingual in AI in our own areas of expertise and solve problems in our domains.”