Market Snapshot

Singapore stocks opened higher on Thursday. STI rose 0.2%; OCBC and Sembcorp rose 1%; Capitaland Investment rose 0.7%; Yangzijiang Shipbuilding and Keppel rose 0.6%; SGX fell 1%.

Stocks in Focus

Singtel: Its third-quarter net profit rose 43.5 per cent to S$1.9 billion from S$1.3 billion in the year-ago period, said the group in a business update on Thursday. Operating revenue rose 0.9 per cent to S$3.7 billion from S$3.6 billion. The counter closed on Wednesday 3.3 per cent or S$0.16 at S$4.98.

StarHub: It posted a net profit of S$38.5 million for its second half ended Dec 31, 2025, a 50.9 per cent decline from S$78.4 million in the year-ago period. This translated to an earnings per share (EPS) of S$0.019, down 55.3 per cent from an EPS of S$0.043 in H2 2024. Shares of StarHub closed on Wednesday 0.8 per cent or S$0.01 lower at S$1.20.

Far East Hospitality Trust (FEHT): The manager on Thursday posted a distribution per stapled security of S$0.0192 for its second half ended Dec 31, 2025, a 7.7 per cent decline from S$0.0208 in the previous corresponding period. For the half year, income available for distribution rose 13 per cent to S$37 million, from S$32.7 million previously. The counter closed on Wednesday 0.8 per cent or S$0.005 up at S$0.625.

Thomson Medical: The healthcare provider’s net loss narrowed to S$10.2 million for its first half ended Dec 31, 2025, from a net loss of S$12.9 million in the year-ago period. This came amid lower net finance costs and steady operating performance, even as Thomson Medical sustained investments in specialist services, clinical talent and digital initiatives across its markets, said the group on Wednesday. The counter ended 1.6 per cent or S$0.001 higher at S$0.062 before the release of its results.

Starhill Global Reit: Hospitality veteran Ho Sing, 59, is retiring and will step down as the chief executive officer and executive director of Starhill Global Reit on Aug 10. The manager said on Wednesday that the search for his successor was under way, with an announcement in due course. Units of Starhill Global Reit ended S$0.005 or 0.9 per cent higher at S$0.575 before the news.

Prime US Reit: The manager on Wednesday posted a distribution per unit (DPU) of US$0.0049 for the second half ended Dec 31, an increase from the US$0.0011 DPU recorded in the year-ago period. H2 distributable income fell 18.8 per cent year on year to US$12.1 million from US$14.8 million, largely due to lower property operating income from lease expiries. Units of Prime US Reit ended 4.6 per cent or US$0.01 higher at US$0.23 before the release of its results.

Soilbuild Construction: The group on Wednesday said it secured about S$158 million worth of new contracts. The deals will add more revenue visibility, and bring the group’s order book value to around S$1.07 billion as at end-December. Shares of Soilbuild Construction ended 0.5 per cent or S$0.005 lower at S$0.995 before the announcement.

Japan Foods: Japan Foods called for a trading halt on Thursday morning pending an announcement release. The counter closed flat on Wednesday at S$0.159.

SG Local News

Singapore’s Premier Wong Preps Budget for Age of AI, Trade Rifts

Singapore Prime Minister Lawrence Wong will likely use his 2026 budget speech Thursday to position the nation as an artificial intelligence hub, a key facet of his government’s effort to diversify growth engines as global trade fractures.

Wong, who’s also finance minister, is expected to outline the city-state’s spending and strategies on the new technology, while reassuring citizens and small businesses that they won’t be left behind. Retraining and living costs for the rapidly aging population will also likely remain a focus.

The announcement of the annual budget — one of the most closely watched political events in Singapore — is expected to contain fewer handouts than 2025, when Singapore was headed into an election and was celebrating its 60th anniversary. Wong’s People’s Action Party, which has run the country since independence, subsequently won a bigger share of the vote.

Grab Forecasts Annual Revenue Below Estimates as Platform Momentum Slows

Singapore's Grab forecast fiscal 2026 revenue below Wall Street expectations on Wednesday, signaling slower momentum in the tech firm's core businesses of ride hailing and deliveries as consumers grapple with economic uncertainty.

Sticky inflation levels amid major Southeast Asian markets, paired with the fallout of the U.S. tariff policies, has prompted consumers to become more selective with spending, as they curb discretionary budgets and look for cost-saving options for regular purchases.

Grab has leveraged its Saver platform to lure frugal customers with discounts, offers, and bundling to bring down delivery fees in an attempt to keep up with rapidly changing spending patterns.

The company also announced a $500 million share buyback program.

SingTel's Third-Quarter Profit Rises on Higher Contribution from Airtel, Advanced Info

Singapore Telecommunications reported a 9.5% rise in its third-quarter underlying net profit on Thursday, driven by strong contributions from India's Bharti Airtel and Thailand's Advanced Info Service (AIS).

SingTel reported an underlying net profit of S$744 million ($589.77 million) for the three-month period ended December 31, compared with S$680 million a year earlier.

Contributions from regional associates' post-tax profits rose more than 15% to S$529 million, led by Airtel and AIS.