Market Snapshot

Singapore stocks opened higher on Tuesday. STI up 0.2%; BRC Asia up 5.7%; JMH USD, Kep Ifra Tr, Centurion, NTT DC REIT up 1%;.SGX up 0.5%.

Stocks in Focus

Singapore Exchange (SGX): Shares of Hong Kong-listed pharmaceutical group China Medical System are expected to commence trading on the SGX on Jul 15, although there is no guarantee that the proposed listing will happen as it is subject to conditions. The closing price of its shares as quoted on the Hong Kong Stock Exchange on Monday was HK$12.54, the company said in a bourse filing on Monday.

Frasers Centrepoint Trust (FCT): The manager of FCT announced that the agreement between the trustee-manager and property manager of retail mall Northpoint City South Wing has been automatically renewed for a further 12 months commencing from Monday. The agreement is generally aligned with the property management agreements across all retail malls owned by FCT and managed by the property manager, and include the adjoining retail mall known as Northpoint City North Wing.

NTT DC Reit: Units of the real estate investment trust (Reit) commenced trading on the local bourse at 2 pm on Monday, marking the largest Reit initial public offering on the SGX in a decade. Pol de Win, head of global sales and origination at SGX Group, noted that the listing “underscores Singapore’s position as Asia’s leading Reit hub”.

BRC Asia: The prefabricated steel reinforcement company secured around S$570 million worth of contracts for the Changi Airport Terminal 5 project, where it will supply steel reinforcement for the substructure of the upcoming terminal. The group said on Monday that the new contracts bring its outstanding sales order book to S$2 billion as at Jul 14, and extend its revenue visibility through to 2029.

SG Local News

US Tariffs Put Spotlight on Industrial S-Reits’ Upcoming H1 Earnings

Market watchers remain cautious on the performance of industrial Singapore-listed real estate investment trusts, or S-Reits, ahead of the sector’s upcoming financial results – given uncertainty around the impact of the US administration’s global tariffs.

“Rental growth in the industrial sector may ease in the current tariff-related uncertainty,” said Xavier Lee, an equity analyst from Morningstar.

Singapore Proposes to Bar Convicted Money Launderers from Directorships

The Ministry of Finance (MOF) and the Accounting and Corporate Regulatory Authority (Acra) plan to bar those who have been convicted of money laundering offences from serving as a company director as part of wide-ranging reforms to strengthen Singapore’s corporate framework.

These and other proposals come in the wake of a S$3 billion money laundering scandal that rocked the city-state in 2023.

UK Pledges £70 Million to Singapore’s Green Energy Push in South-East Asia

The UK has pledged up to £70 million (S$120.9 million) to Singapore’s Financing Asia’s Transition Partnership (FAST-P) programme, which targets low-carbon projects and blended finance solutions across South-east Asia.

The UK Secretary of State for Foreign, Commonwealth and Development Affairs David Lammy announced the pledge during his official visit to Singapore on Saturday (Jul 12). This is part of the collaboration between the two countries to drive the region’s clean energy transition and sustainable infrastructure development, said a joint release by the Monetary Authority of Singapore (MAS) and British International Investment on Monday.