Market Snapshot

Singapore stocks opened lower on Wednesday. STI fell 0.03%; Genting Singapore rose 0.7%; Seatrium rose 0.5%; Keppel rose 0.3%; ST Engineering fell 0.9%; Yangzijiang Shipbuilding fell 0.5%; DBS fell 0.4%.

Stocks in Focus

CapitaLand Investment (CLI): The manger of CapitaLand Malaysia Trust (CLMT), a CLI subsidiary, on Tuesday proposed a placement of up to 435.4 million new units to raise gross cash proceeds of up to RM250 million (S$75.8 million). The manager may place the proceeds in interest-bearing deposit accounts with licensed financial institutions, short-term money market deposits or other permissible investments allowed under the trust deed of CLMT. Units of CLI ended Tuesday 0.4 per cent or S$0.01 higher at S$2.51.

NIO: The Chinese electric vehicle maker on Tuesday posted a net loss of US$949.6 million for its first quarter of 2025. This is a 31.1 per cent increase from the the year-ago period and a 3.4 per cent decrease from the previous quarter. Vehicle deliveries stood at 42,094 for Q1 2025, up 40.1 per cent on the year but down 42.1 per cent on the quarter. The counter ended on Tuesday 0.3 per cent or S$0.01 higher at US$3.53, before the announcement.

Japfa: The agri-food company will be delisted from the official list of the Singapore Exchange (SGX) with effect from Jun 6, 2025, 9 am, as the board has received confirmation that payment of the adjusted scheme consideration was made to each entitled scheme shareholder on Tuesday. This comes as shareholders approved the scheme resolution proposed by family members of the group’s founder to take the business private. The counter has been suspended from May 19, after its shares closed unchanged at S$0.615 on May 16 – its last day of trading.

Stoneweg European Real Estate Investment Trust (Stoneweg E-Reit): The manager on Wednesday announced that the Reit will be converted into a stapled group. Each unit of Stoneweg E-Reit will be stapled to each unit in Stoneweg European Business Trust. It will then form a stapled security in an entity known as Stoneweg Europe Stapled Trust. The stapled securities will be traded on the SGX with effect from Jun 16, 2025, 9 am, as Stoneweg E-Reit units will cease to trade on the bourse from Jun 13, 2025, 5 pm. The counter ended on Tuesday 1.3 per cent or 0.02 euros higher 1.54 euros.

Grand Venture: The manufacturing-service provider on Tuesday posted a first-quarter net profit after tax of S$2.6 million for the three months ended Mar 31, up 27.7 per cent from S$2 million a year ago. Earnings before interest, tax, depreciation and amortisation grew as well, by 29 per cent to S$8.4 million, from S$6.5 million previously, said the company. Shares of GVT closed flat at S$0.925 on Tuesday, before the announcement.

Frencken: The semiconductor maker will invest S$63 million to build a new and larger five-storey manufacturing facility in Kaki Bukit. The new site will be built on a plot of land leased from Jurong Town Corporation to its subsidiary ETLA for a period of 33 years, from Aug 18, 2025, the group said on Tuesday. Shares of Frencken closed flat at S$1.14, before the announcement.

SG Local News

Temasek’s Mapletree Investments Returns to Profit, Hits Record AUM of S$80.3 Billion in FY2025

Temasek’s Mapletree Investments reversed a loss from the previous year to turn a profit of S$227.2 million for the full-year ended Mar 31, on the back of narrowed overall revaluation losses.

This was while its assets under management (AUM) hit a record S$80.3 billion, 3.6 per cent higher than S$77.5 billion reported in the same period the year before, the company said in a statement on Tuesday (Jun 3).

Revenue for the period was S$2.2 billion, lower than the year before due to the deconsolidation of Mapletree Logistics Trust (MLT), one of three Singapore-listed real estate investment trusts managed by the group.

SMRT to Be Fined S$3 Million for Operational, Maintenance Lapses Which Led to East-West Line Disruption

Public transport operator SMRT will be fined S$3 million (US$2.33 million) due to lapses which led to an incident and subsequent six-day disruption along the East-West Line in September 2024.

In a report released on Tuesday (Jun 3), the Land Transport Authority (LTA) said these lapses included maintenance intervals being extended beyond stipulations, in part due to COVID-19 delays on new train arrivals.

A warning system that malfunctioned on the day of the incident also could have prevented the disruption, according to a report from the Transport Safety Investigation Bureau (TSIB) also released on Tuesday.