Market Snapshot

Singapore stocks opened flat on Friday. STI was unchanged; Nio up 8%; Keppel, YZJ Shipbldg, Singtel and Seatrium up 1%; OCBC down 3%.

Stocks to Watch

CapitaLand Integrated Commercial Trust (CICT) : It posted net property income (NPI) of S$291.5 million for Q1 FY2025, a 0.8 per cent drop from the previous corresponding period. Revenue for the quarter fell 0.8 per cent on the year to S$395.3 million. The declines were largely due to the absence of income from 21 Collyer Quay, an office building located in Raffles Place that CICT divested in November 2024, the manager said in a Friday business update. The counter ended Thursday flat at S$2.14.

Mapletree Pan Asia Commercial Trust (MPACT): The manager posted a Q4 distribution per unit (DPU) of S$0.0195, down 14.8 per cent from S$0.0229 from the year-ago period. Unitholders can expect to receive the distribution payout on Jun 6. Its revenue fell 6.8 per cent to S$222.9 million from S$239.2 million in the year-ago period, while NPI for the quarter dipped 7.4 per cent to S$169.5 million. Units of MPACT closed 1.6 per cent or S$0.02 lower on Thursday at S$1.22.

Sats: The in-flight caterer and ground handler said on Thursday that it appointed a new chief financial officer (CFO) as part of its leadership renewal. It named Timothy Tang as group CFO-designate as part of its succession plans and “continuous renewal of its senior management team”. The 46-year-old will be initially appointed in this role on May 2, before formally assuming it after Sats’ upcoming annual general meeting is concluded. The incumbent Sats CFO Manfred Seah will transition to the role of special adviser, effective Jul 25. The counter closed on Thursday 0.7 per cent or S$0.02 higher at S$2.80, before the announcement.

Suntec Real Estate Investment Trust (Reit): Its DPU rose 3.4 per cent to S$0.01563 for its first quarter ended Mar 31, from S$0.01511 in the same period a year earlier. Revenue was up 3.4 per cent at S$113.5 million for the quarter, from S$109.8 million. All properties – except for 55 Currie Street in Adelaide – registered stronger operating performance, said the manager in a business update on Thursday. Distributable income rose 4.3 per cent year on year to S$45.9 million, from S$44 million. The distribution will be paid out on May 30, after the record date on May 5. Units of Suntec Reit closed on Thursday 0.9 per cent or S$0.01 lower at S$1.16, before the results were released.

OUE Reit: The Reit’s revenue fell 11.9 per cent to S$66 million for its first quarter ended Mar 31, from S$74.9 million in the year-ago quarter. This was mainly due to the divestment of Lippo Plaza in Shanghai, as well as lower contributions from the hospitality segment due to a weaker trading environment compared to the previous year, the manager said in a business update on Thursday. NPI fell 12.1 per cent on the year to S$53.2 million for the quarter, from S$60.5 million. Units of OUE Reit closed flat at S$0.275 on Thursday, before the results were released.

CapitaLand India Trust (Clint): Clint posted total property income of 4.7 billion rupees (S$72.3 million) for its first quarter ended Mar 31, up 14 per cent from 4.2 billion rupees in the same period a year earlier. This was due to higher rental income from existing properties and income contributions from the acquisitions it made in 2024, which includes aVance II in Pune and Building Q2 in Navi Mumbai, the manager said in a business update on Thursday. NPI rose 14 per cent on the year to 3.5 billion rupees for the quarter, from 3.1 billion rupees in Q1 2024. This was due to higher property income, partially offset by an increase in property expenses. Units of Clint rose 1.1 per cent or S$0.01 to S$0.95 on Thursday, before the release of the results.

SG Local News

Retail investors buy $1.17b in stocks amid STI April selloff

Singapore’s retail investors made bold moves in April as the Straits Times Index (STI) saw one of its most volatile stretches in recent years.

After tumbling 14.6% from the end of Q1 to April 9, the STI staged a sharp rebound of 12.9% by April 23. Still, the index closed the period with a net loss of 3.2%.

Retail traders were quick to act during the initial selloff. From April 1 to 9, they poured $1.165b into the Singapore stock market, betting on a rebound.

Property market resilience hinges on tariff-driven job and cost pressures

Singapore’s 'resilient' property market is about to face its next big test on an expected economic slowdown brought about by the tariff war.

Policy uncertainty around US President Donald Trump’s on-off global tariffs is expected to weigh on global growth. In turn, Singapore— a trade-dependent economy— will likely feel the strain, said DBS Group Research’s equity team in a 23 April 2025 report.