Market Snapshot
Singapore stocks opened higher on Monday. STI rose 0.11%; Raffles Medical, iFast up 1%; Seatrium up 0.8%; UMS down 1.3%.
Stocks in Focus
Keppel: Singapore has appointed a Keppel-led consortium for the next phase of a project that explores the use of ammonia to generate clean power on Jurong Island, said the Energy Market Authority and Maritime and Port Authority of Singapore on Friday. The project aims to develop a solution that generates 55 to 65 megawatts of electricity from imported low or zero-carbon ammonia. Alongside project partners Japan’s Sumitomo Corporation and liquid storage logistics player Advario, Keppel will conduct a front-end engineering design study to advance a proposal on using ammonia to generate power. The counter closed at S$9.17 on Friday, up 0.3 per cent or S$0.03.
Grand Venture Technology: The group said on Friday that the court had approved a scheme for its privatisation. In July, the group announced that Dutch firm Aalberts Advanced Mechatronics had proposed to acquire all ordinary shares in its issued and paid-up share capital, amounting to some 339.3 million shares worth S$318.9 million. The last trading day for Grand Venture shares on the Singapore Exchange will be on Oct 8, with the expected date for the payment of the scheme consideration on or around Oct 31. The counter ended Friday at S$0.94, up 0.5 per cent or S$0.005, before the announcement.
Fu Yu: The precision plastic components manufacturer will close its investigations into irregularities at its wholly owned supply chain unit Fu Yu Supply Chain Solutions (FYSCS) and will not take further action against individuals involved. On Friday, the board said it is of the view that it would not be in the best interests of the company and shareholders to continue with the probe. The group announced in January that it was looking into FYSCS after discovering causes for concern at the unit. The counter ended Friday at S$0.099, down 1 per cent or S$0.001, before the announcement.
mm2 Asia: The cut-off date for a proposed share placement to raise funds has been extended from Sep 30, 2025, to Mar 31, 2026, to allow sufficient time to fulfil the terms of the agreement, the media company said on Friday. Announced in July, mm2 Asia proposed a placement of up to around 1.9 billion shares at a minimum price of S$0.008 per share, to raise funds for debt repayment and working capital purposes. The group said it had come to an agreement on the extension with the placement agent, UOB Kay Hian. Shares of mm2 Asia ended Friday at S$0.002, down S$0.001 or 33.3 per cent, before the announcement.
SG Local News
DBS Gains $20 Billion in Value, Widening Lead Against Singapore Rival OCBC
DBS Group Holdings Ltd.’s blistering share rally this year has widened its market value lead over its peer Oversea-Chinese Banking Corp. to a level never seen before.
A 21% advance in shares of Singapore’s largest bank in 2025 has boosted its market capitalization by about S$26 billion ($20 billion), taking its gap over the second largest lender in the city-state to S$75 billion. Analysts are mostly bullish on DBS’s dividend and wealth management outlook.
Singtel Pledges Support for Troubled Long-Time Unit Optus; Transformation ‘Will Take Time’
Amid widespread concern over a September emergency hotline outage at Optus which has been linked to three fatalities, Singtel has expressed its commitment to tackling the underlying problems at its wholly-owned Australian subsidiary.
A key step is the appointment of global consulting firm Kearney to provide independent additional oversight of the Optus mobile network.