Market Snapshot

Singapore stocks opened lower on Monday. STI fell 0.2%; Nio up 4%; ST Engineering fell 2%.

Stocks in Focus

SIA: Passenger traffic for its two carriers rose 6.2 per cent to 13.5 billion in July 2025, from 12.7 billion in the year-ago period, SIA’s latest operating update on Friday indicated. The increase in passenger traffic for SIA and Scoot outpaced the 2.8 per cent expansion in passenger capacity. Shares of SIA declined 0.2 per cent or S$0.01, to close at S$6.59 on Friday.

CapLand Ascendas REIT: CapitaLand Ascendas Reit (Clar): The manager of the real estate investment trust (Reit) announced on Monday the proposed divestments of five Singapore properties for a total consideration of S$329 million. These divestments are proposed at “healthy premiums” of 6 per cent to the properties’ total valuation and original purchase price, said the manager in a bourse filing. The estimated net proceeds after divestment costs are expected to be S$313 million. Completion of the divestments is expected within the fourth quarter of 2025. The counter closed 0.74 per cent or $0.02 down at S$2.69 on Friday.

Frasers L&C Tr: The manager on Friday issued S$100 million worth of 2.45 per cent fixed rate notes due in 2034 under its S$1 billion multicurrency debt issuance programme established in 2016. The notes have been assigned an issue rating of “BBB+” by Fitch Ratings and are expected to be admitted to the official list of the Singapore Exchange Securities Trading with effect from 9 am on Monday. Units of FLCT ended Friday unchanged at S$0.89.

IFAST: The group on Friday announced that its Malaysia-incorporated subsidiary iFast Pay Malaysia received in principle approval from Bank Negara Malaysia to operate as an electronic money issuer and to hold a Money Services Business Class A licence. iFast said that this is a regulatory milestone in Malaysia that paves the way for it to introduce payment-related services complementary to its existing suite of wealth management and digital banking solutions. The counter ended Friday 2.8 per cent or S$0.27 higher at S$9.78.

Frasers HTrust; Frasers Property: The latest attempt to privatise FHT succeeded on Friday, with 618 out ot 718 stapled security holders present voting in favour of the proposed privatisation scheme. This follows real estate giant Frasers Property proposal to privatise FHT at S$0.71 per stapled security on May 14 this year citing the trust’s inability to improve its distribution and growth due to macroeconomic headwinds. The May proposal was Fraser’s second attempt in three years to take FHT private after a failed bid in September 2022. Units in FHT and Frasers Property closed at S$0.705 and S$0.96, respectively, on Thursday before a trading halt on Friday morning. FHT and Frasers Property asked for the trading halt to lifted on Monday.

Oiltek: The mainboard-listed company on Monday announced that it had secured new contracts in Malaysia, Pakistan and Indonesia valued at RM74.3 million (S$22.7 million). These new contract wins result in the group’s cumulative contracts secured to date in FY2025 to amount to around RM136.2 million. The company’s current order book amounts to around RM398.2 million and is expected to be fulfilled over the next 18 to 24 months with the addition of the new contracts, barring any unforeseen circumstances. Shares of Oiltek closed up 4 per cent or S$0.04 at S$1.05 before the announcement.

SG Local News

Singapore's Exports Fall 4.6% Y/Y in July, Weaker Than Forecast

Singapore's non-oil domestic exports fell 4.6% in July from the same month a year earlier, government data showed on Monday, weaker than analysts' estimates as pharmaceuticals led a drop in non-electronics shipments.

The fall compared with a Reuters poll forecast for annual contraction of 1.8%, and followed a revised 12.9% rise in June.

Singapore Targets Vaping With Stiffer Penalties, Jail Time

“So far we’ve treated vaping like tobacco — at most we impose a fine, but that’s no longer enough,” he announced during a national address. “We will treat this as a drug issue and impose much stiffer penalties.”Lawrence Wong announced on Sunday.

“So far we’ve treated vaping like tobacco — at most we impose a fine, but that’s no longer enough,” he announced during a national address. “We will treat this as a drug issue and impose much stiffer penalties.”

That means jail sentences and more severe punishments for those who sell vapes laced with harmful substances, Wong said, adding that Singapore will provide rehabilitation for addicts.

Vapes are already banned in Singapore, with health officials warning that a third of those seized are laced with the anesthetic substance, etomidate. Doctors typically inject etomidate to induce sedation, but misusing it can cause hallucinations and permanent organ failure.

Shopee Owner Sea Tops $100 Billion in Market Value as Stock Surges

Sea is back above $100 billion. Sea posted record sales that sent its stock surging last week, bringing it close to reclaiming its title as Southeast Asia’s most valuable company — hot on the heels of DBS.

The Singapore-based company’s market value is now about $103 billion, compared with $111 billion for DBS, the regional banking giant based in the same city. The e-commerce and gaming firm reported soaring sales that topped estimates as more of Southeast Asia’s consumers turn to its online shopping platform Shopee.