Market Snapshot

Singapore stocks opened higher on Tuesday. STI rose 0.6%; Yangzijiang Financial up 4%; SGX up 1%.

Stocks in Focus

MM2 Asia: The entertainment company called for a trading suspension on Tuesday morning before market open. The group on Monday applied to the High Court of Singapore for a moratorium pursuant to the Insolvency, Restructuring and Dissolution Act. This comes after it received a S$74.6 million payment demand from UOB. The moratorium it is seeking could prohibit winding-up resolutions from being passed for a four-month period. Its shares had closed on Monday 25 per cent or S$0.001 down at S$0.003.

CSE Global: The company has entered into an agreement to issue nearly 63 million new warrants to Amazon.com NV Investment Holdings, a wholly owned subsidiary of Amazon. The warrants are tied to full vesting conditional on Amazon and its affiliates making qualifying payments for products and services totalling US$1.5 billion. Assuming all warrants are exercised, the company stands to raise gross proceeds of approximately S$48.3 million, which it intends to use entirely for general working capital. Shares of CSE Global closed at S$0.830, S$0.01 or 1.2 per cent up on Monday before the announcement. 

Yoma Strategic: The group on Tuesday posted a net loss for the first half-year ended September of US$8.7 million, which narrowed from US$10.5 million in the same period a year before. This is due to higher revenue and stronger core profitability, according to Yoma Strategic. Revenue for H1 FY2026 was up 19.3 per cent year on year to US$113.6 million, from US$95.2 million. The counter closed 2.4 per cent or US$0.002 up at US$0.086 on Monday before the release of results.

Boustead: The mainboard-listed group’s net profit for the half-year ended September fell 3 per cent year on year to S$34.9 million. Revenue stood relatively flat from the year-ago period at S$294 million amid slower real estate revenue recognition, and flat contributions from the energy engineering business that was impacted by US tariffs. The counter ended Monday at S$1.77, up by S$0.01 or 0.6 per cent, before the announcement.

Jardine C&C: Its 2025 underlying profit is expected to be “broadly similar” to that of 2024, despite weaker year-to-date contributions from Astra International, in which it has a 50.1 per cent stake. This comes amid improvements in its non-Astra International businesses for the nine months ended Sep 30, 2025, as well as favourable translation gains on corporate loans, the group said in a third-quarter interim management statement. Its shares ended Monday 0.1 per cent or S$0.04 higher at S$32.74.

VICOM Ltd: The vehicle-inspection company posted S$9.9 million in profit after taxes and minority interests for the third quarter ended Sep 30, up 45 per cent year on year. Its revenue rose 36 per cent in Q3 to S$41.6 million, lifted by installation works of on-board units in vehicles, as part of Singapore’s refreshed Electronic Road Pricing system. The counter ended Monday at S$1.59, down by S$0.01 or 0.6 per cent.

Riverstone: The glovemaker posted a drop of 28 per cent in net profit to RM52 million (S$16.3 million) for the third quarter ended Sep 30, from RM72.2 million in the year-ago period. On Monday, it said its revenue fell 17.1 per cent to RM247.5 million, from RM298.4 million, amid lower blended average selling prices for healthcare gloves amid intensified market competition. Shares of Riverstone closed down 0.6 per cent or S$0.005 at S$0.865 on Monday, before the announcement.

SG Local News

Grab to Invest $60 Million in Remotely Driven Car Startup Vay

Grab Holdings, Southeast Asia’s largest ride-hailing provider, is investing $60 million in remote-driving service Vay to add to its bets in technologies for driverless vehicles.

The funding, which is subject to regulatory approval, could increase to a total of $410 million within a year after the initial investment if Vay hits certain milestones, the companies said in a joint statement on Monday. The deal is likely to close in the fourth quarter.

Vay’s service is a business model between a regular human-driven taxi and a fully autonomous one. It allows users to order a car, which is then operated remotely and delivered to the customer. Once it’s arrived, the remote operator disconnects and the customer takes over to drive the vehicle where they want to go.

Former Cathay Cineplexes Operator mm2 Asia Acts to Prevent Winding-up Resolutions

Embattled entertainment group mm2 Asia is seeking a court moratorium that could prohibit winding-up resolutions from being passed for a four-month period, as it pursues a restructuring exercise involving a proposed scheme of arrangement with creditors.

In a bourse filing on Nov 10, mm2 Asia said it applied to the High Court of Singapore for a moratorium pursuant to the Insolvency, Restructuring and Dissolution Act. Earlier in the day, it announced that it had received a $74.6 million payment demand from UOB.

The latest move comes as mm2 Asia attempts to reorganise its business and financial affairs, having received payment demands for millions of dollars from landlords of outlets of its failed cinema chain Cathay Cineplexes since the start of 2025.