Market Snapshot

Singapore stocks opened lower on Thursday. STI fell 0.1%; Keppel up 2%; Singtel, UOL up 1%.

Stocks in Focus

SIA: Passenger traffic in September for Singapore Airlines (SIA) and subsidiary Scoot rose 3.7 per cent year on year. That outpaced a 2.5 per cent rise in passenger capacity, said the group on Wednesday. Both airlines’ passenger load factor increased by one percentage point on the year to 87.1 per cent, while the cargo load factor was 1.8 percentage points lower than the same period last year at 56.2 per cent. Shares of SIA closed 0.2 per cent or S$0.01 higher at S$6.53 on Wednesday, before the news.

Jardine C&C: The investment holding company appointed former OCBC group chief executive officer Samuel Tsien as its new independent chairman, starting from Nov 11. The 71-year-old, currently a lead independent director at Jardine C&C, will succeed chairman John Witt, 62, the company said in a bourse filing on Wednesday. Tsien was executive director at OCBC until 2021 and is currently a director of Singapore Exchange and Mapletree Investments. Shares of Jardine C&C closed 0.8 per cent or S$0.24 higher at S$28.74 on Wednesday, before the announcement.

Aztech Gbl: The net profit of the electronics company fell 21.2 per cent to S$10.8 million for the third quarter ended Sep 30, from S$13.7 million in the previous corresponding period. Revenue for the quarter dropped 19.9 per cent to S$133.5 million from S$166.7 million, primarily due to subdued customer demand, said the company in a bourse filing on Wednesday. Earnings per share stood at S$0.0141, down from S$0.0178 in Q3 2024. Shares of Aztech Global closed on Wednesday 0.7 per cent or S$0.005 lower at S$0.675, before the announcement.

Q&M Dental: The dental group proposed to acquire an equity interest in a peer in Thailand, it said in a bourse filing on Wednesday. Q&M said the target company’s network focuses on accessible, standardised and patient-oriented dental care in high-traffic urban and suburban areas. The purchase consideration will be satisfied by a combination of cash and new ordinary shares to be issued by Q&M, and is based on the target’s enterprise value of about 1.95 billion baht (S$77.7 million) on a cash-free and debt-free basis. Shares of Q&M Dental closed 3.4 per cent or S$0.015 higher at S$0.455 on Wednesday, before the announcement.

FoodInnovators: The group on Wednesday announced that it turned profitable with earnings of S$206,000 for H1 2026, compared with a loss of S$1 million for the year-ago period. The company, which listed on the Catalist board in October 2024, attributed the improvement to growth in its core business. Shares of Food Innovators closed on Wednesday S$0.009 or 4.5 per cent down at S$0.191, before the news.

SG Local News

Temasek, Nvidia Part of Group Buying $51.8 Billion AI Data Centre Operator in Record Deal

An investor group including Singapore’s Temasek, BlackRock, Microsoft and Nvidia is buying one of the world’s biggest data centre operators with nearly 80 facilities in a deal worth US$40 billion (S$51.8 billion) to secure coveted computing capacity for artificial intelligence (AI).

The deal is the biggest-ever data centre transaction as companies race to lock in AI computing power.

Aligned Data Centers, which is based in Texas, currently has 50 campuses in the United States and South America. It has 78 data centres under management or in future development, according to its website.

US Sanctions 3 Singaporeans in Global Fraud Takedown Tied to Cambodian Scam Empire

In one of the largest financial fraud takedowns in history, three Singaporeans and 17 Singapore-registered entities have been sanctioned by the US over their alleged links to Cambodian national Chen Zhi, his affiliates and Prince Holding Group.

In a statement on Oct 14, the US Treasury Department’s Office of Foreign Assets Control said these individuals and entities have been added to its Specially Designated Nationals and Blocked Persons list.

This effectively bars US persons from conducting any transactions with them and requires the blocking of any property in their possession or under their control.