Market Snapshot
Singapore stocks opened lower on Friday. STI fell 0.3%; CityDev rose 3%; Yangzijiang Shipbuilding fell 1%.
Stocks in Focus
UOL: The companies announced on Thursday the completion of the S$810 million en bloc deal for Thomson View condominium. In October 2024, developers UOL, SingLand and CapitaLand Development inked a conditional call-and-put option to purchase the 99-year leasehold development. Depending on the unit size, owners stand to receive between S$2.22 million and S$4.94 million each, the marketing agent had said. Shares of UOL closed 1.5 per cent or S$0.12 higher at S$8 on Thursday, before the news. SingLand shares closed at S$3.12, up 1.3 per cent or S$0.04.
First Resources: It has disposed of two indirect subsidiaries of Indonesian Stock Exchange-listed Austindo Nusantara Jaya, a company it had acquired earlier. This comes as it is determining the fair value of Austindo Nusantara Jaya’s assets and liabilities, the palm oil company said on Thursday. The sales of its entire interests in Permata Putera Mandiri and Putera Manunggal Perkasa for around US$25,000 are not expected to have a material impact on its consolidated net tangible assets and earnings per share for the financial year ending December 2025. The counter ended Thursday at S$1.71, up 0.6 per cent or S$0.01, before the news.
Trading halt: ASL Marine called for a trading halt on Friday morning pending the release of an announcement. The counter closed on Thursday at S$0.188, up 3.3 per cent or S$0.006.
SG Local News
BYD-Linked Consortium Wins Singapore Contract to Trial Autonomous Buses in Public
The Land Transport Authority (LTA) on Thursday (Oct 2) awarded an S$8.1 million contract to pilot autonomous buses on public services to a consortium comprising BYD, MKX Technologies and Zhidao Network Technology.
The trial will begin in the second half of 2026 and run for three years. Its tender was launched before the more recent efforts by the Ministry of Transport to test autonomous vehicles (AVs) in Punggol.
Keppel’s Singapore-US Subsea Cable Bifrost 'Ready for Service', Will Carry Commercial Traffic in Coming Weeks
Keppel’s Bifrost Cable System which directly links Singapore to the US via Indonesia achieves “ready for service” status and will start carrying commercial traffic in the coming weeks.
According to Keppel, Bifrost is the world’s first subsea cable system directly linking Singapore to the West Coast of the USA through the Java sea and Celebes sea. It spans over 20,000 kilometres, and will offer a round-trip latency of just under 165 milliseconds, up to 10 milliseconds faster than existing systems.
Keppel has been assigned five out of a total of 12 fibre pairs in Bifrost. These five fibre pairs are jointly owned by Keppel and its private fund co-investors through a 40-60 joint venture.