Market Snapshot
Singapore stocks opened lower on Friday. STI fell 0.2%; Keppel rose 1%; Seatrium fell 4%; NIO fell 3%; SGX fell 0.3%; DBS and OCBC fell 0.2%.
Stocks in Focus
Seatrium: It has received a notice of termination for a contract secured in 2022 by its subsidiary Sembcorp Marine Rigs & Floaters, which is now known as Seatrium Energy (International). The contract was for the construction of a wind turbine installation vessel for Maersk Offshore Wind, which was to be deployed at a US offshore wind farm. It has a total value of around US$475 million and is about 98.9 per cent completed. Seatrium on Friday said it is reviewing the validity of the termination notice. The counter ended Thursday 0.8 per cent or S$0.02 lower at S$2.44.
Thakral: Its investee company in the UK, The Beauty Tech Group, made its debut on the London Stock Exchange on Wednesday, the group announced on Thursday. The Beauty Tech Group’s share price rose by about 4 per cent to £2.81 at the close of its first day of trading, resulting in a market cap of about £311 million (S$537.4 million). Thakral holds a 6.04 per cent stake in The Beauty Tech Group. The counter ended Thursday down by 0.6 per cent or S$0.01 at S$1.62, before the news.
Fu Yu: The group on Thursday said that its board decided to discontinue investigations into its unit Fu Yu Supply Chain Solutions after receiving legal advice that there is no merit in taking further action. This was in response to queries from the Singapore Exchange over the company’s decision to cease the probe. It added that it would be in the company’s best interests to close the investigations, instead of expending further resources to pursue matters that are unlikely to yield any tangible benefits. The counter closed on Thursday at S$0.099, up by 1 per cent or S$0.001.
Capital World: An individual that the company’s subsidiary Capital City Property entered into a sale and purchase agreement (SPA) with for the purchase of a serviced suite unit is demanding the cancellation of the SPA. This comes as the development remains uncompleted despite the SPA being executed in September 2019, the group said on Thursday. The individual also demanded full repayment of the redemption sum of RM254,797.71 (S$78,078) disbursed by his end-financier, and RM55,213.73 for the interest paid. The counter ended Thursday flat at S$0.001.
Reclaims Global: Reclaims Global called for a trading halt on Friday morning, pending the release of an announcement. Its shares ended Thursday at S$0.405, down by S$0.045 or 10 per cent.
SG Local News
Singapore and New Zealand Sign Comprehensive Strategic Partnership
New Zealand and Singapore on Friday signed a comprehensive strategic partnership (CSP), with their prime ministers pledging to continue to find ways to work together to maintain the international rules-based order at a time of growing tensions.
The two countries have maintained political ties for 60 years, and in 2019 signed an enhanced partnership agreement that covered trade and economics, defence and security, and supply chains.
The two countries also concluded an agreement on trade in essential supplies, formalising an arrangement that began during the COVID-19 pandemic, when air freight continued between the two countries despite few passengers on flights.
Johor–Singapore SEZ Draws New Wave of Investors with 2-in-1 Appeal
Esther Teo, director of Singapore Economic Development Board’s JS-SEZ Programme Office, said the zone opens up opportunities for the agency to engage with more companies, especially those which might not have considered Johor or Singapore as individual investment destinations.
“Now that we have kind of put the two together, it has become a much more compelling value proposition for companies and businesses. So I can see that it has helped to really broaden the sales funnel for us, allowing us to engage companies in sectors or markets that we have not focused on before,” she said.
In the first half of 2025, Johor already attracted RM56 billion (S$17 billion) in investments, primarily driven by initiatives like the JS-SEZ.
SGX to Sharpen Focus on Ecosystem Initiatives to Sustain Equity Market Growth
To maintain the momentum of the recent uplift in local equities, the Singapore Exchange (SGX) will focus on expanding its product offerings and advancing ecosystem-wide initiatives. This, said chief executive officer Loh Boon Chye, will help “turn this buoyancy into long-term growth”.
Speaking during the bourse operator’s annual general meeting on Thursday (Oct 9), he noted that in addition to its ongoing efforts, the Monetary Authority of Singapore’s equity market review measures have provided a “strong tailwind” that further boosts liquidity in the market.
Through coordinated efforts such as the Equity Market Development Programme, Loh pointed out that institutional capital is being directed into Singapore equities, increasing investor interest and broadening participation beyond large-cap stocks.