Market Snapshot

Singapore stocks opened slightly lower on Wednesday. STI fell 0.13%; China Aviation up 6%; GLD SG, YZJ Shipbldg up over 1%; CapitaLand Invest, Mapletree PanAsia down over 1%.

Stocks in Focus

Mapletree Logistics Trust (MLT): The manager of the trust announced a distribution per unit (DPU) of S$0.01815 for the second quarter ended Sep 30. This was lower than the DPU of S$0.02027 the trust posted for the same quarter a year earlier. On Tuesday, the manager reported a 3.2 per cent fall in revenue to S$177.5 million for Q2 FY2026, from S$183.3 million a year earlier. Units of MLT gained 2.3 per cent or S$0.03 to close at S$1.33 on Tuesday.

Keppel Reit: The manager of Keppel Real Estate Investment Trust (Reit) on Wednesday posted a 0.6 per cent lower distributable income of S$159.6 million for the first nine months of its financial year, from S$160.6 million. This includes an anniversary distribution of S$15 million, which remained unchanged from the same period in the year before. Net property income (NPI) for the first nine months grew 8.6 per cent year on year to S$161.3 million, from S$148.5 million. Units of Keppel Reit closed Tuesday S$0.04 or 3.9 per cent up at S$1.07.

CapitaLand Ascott Trust (Clas): The lodging trust’s managers on Wednesday reported a gross profit increase of 1 per cent year on year for the third fiscal quarter ended September. This was attributed to stronger operating performance, portfolio reconstitution and asset enhancement initiatives. However, gross profit was 2 per cent lower on a same-store basis after excluding acquisitions and divestments. Stapled securities of Clas ended Tuesday flat at S$0.955.

ESR-Reit: The manager of the Reit posted a 28.6 per cent rise in net property income (NPI) to S$247.8 million for its third quarter, up from S$192.7 million in the year-ago period. This increase was mainly due to contributions from acquisitions, higher NPI from existing properties and the completion of asset enhancements. For the three months, distributable income was up 6.8 per cent year on year at S$134.6 million, from S$126 million in Q3 2024. Units of ESR Reit closed on Tuesday 0.7 per cent or S$0.02 higher at S$2.89, before the news.

Wee Hur: The group on Tuesday launched and priced its inaugural offering of S$175 million worth of fixed rate notes due in 2030. The notes will be issued pursuant to its S$500 million multicurrency medium term note programme established on May 29, 2025, and bear interest at a fixed rate of 4.8 per cent per annum, payable semi-annually in arrears on May 4 and Nov 4 each year, starting from 2026. The counter closed Tuesday 2 per cent or S$0.015 lower at S$0.745, before the news.

First Reit: The manager of the Reit on Tuesday reported a 6.1 per cent fall in the trust’sdistributable income for the nine-month period ending Sep 30 to S$34.8 million, from S$37 million in the corresponding period in the previous year. It also reported a DPU of S$0.0165 for 9M 2025, a decline of 7.3 per cent from S$0.0178 in the same period in the prior year. Units of First Reit closed down 1.8 per cent or S$0.005 at S$0.28 on Tuesday.

LHN: The property management services group’s co-living business Coliwoo on Tuesday launched its initial public offering of 80.3 million shares at S$0.60 each, in conjunction with its listing on the mainboard of the Singapore Exchange.The company registered its prospectus on Tuesday, and its shares are expected to start trading on Nov 6. Shares of LHN declined 2.3 per cent or S$0.02 at S$0.845 on Tuesday.

SG Local News

No Tariff Talks at Regional Summit as PM Wong Underscores Asean Unity, Deeper Integration

Tariff discussions did not feature during the 47th Asean Summit, said Prime Minister Lawrence Wong on Tuesday (Oct 28), who noted that the bloc’s exchanges with US President Donald Trump focused instead on strengthening the broader strategic partnership between America and the region.

Still, earlier on Sunday, the US signed reciprocal trade agreements with Thailand, Malaysia, Cambodia and Vietnam to address tariff and non-tariff barriers. 

Under the deals, the US will maintain a tariff rate of 19 per cent on most exports from Malaysia, Thailand and Cambodia; and 20 per cent for Vietnam, indicated joint statements released by the White House.

SGX ETF Market Hits Record S$16.3 Billion AUM in Q3 on Strong Gold, Reit Demand

The exchange-traded fund (ETF) market on the Singapore Exchange (SGX) hit a record high S$16.3 billion in assets under management (AUM) as at end-September. This marked a 40 per cent year-on-year increase, the local bourse’s third-quarter ETF Market Highlights report indicated.

The market recorded robust net inflows of S$736 million in Q3. Together with the S$700 million recorded in the first half of 2025, this brought the net inflows in the year to date to S$1.4 billion.

HarbourFront Centre to Close in Second Half of 2026 for Makeover into 33-Storey Mixed-Use Building

HarbourFront Centre is set to close in the second half of 2026 for a makeover that will see it redeveloped into a mixed-use building with an elevated park.

The new 33-storey building comprising office and retail spaces is expected to be completed by the first half of 2031.

In a release on Oct 28, owner and real estate firm Mapletree Investments said there will be 26 floors of Grade A offices and five floors of “engaging spaces for an experiential visit”.