Market Snapshot

Singapore stocks opened higher on Friday. STI rose 0.1%; F&N rose 3%; SGX rose 1%; ST Engineering rose 0.6%.

SIA rose 0.2%; DBS rose 0.5%;UOB rose 0.3%; Singtel rose 0.8%; Seatrium rose 0.6%; Nio fell 2.6%.

Stocks to Watch

Singtel: Its regional data centre arm, Nxera DCT, has secured a S$643 million five-year green loan to finance the development of a new 58 megawatt data centre in Singapore. Participating banks are DBS, OCBC, Standard Chartered, HSBC and UOB, said the telecommunications giant on Friday. Shares of Singtel ended Thursday 0.6 per cent or S$0.02 higher at S$3.23.

ST Engineering: The technology and engineering group announced on Thursday that it secured S$4.3 billion in new contracts in the fourth quarter of 2024, reflecting the group’s strong market position and continued demand for aerospace solutions, underpinned by strong aviation demand. Shares of ST Engineering closed 0.2 per cent or S$0.01 higher at S$4.83, before the announcement.

CapLand Ascendas REIT (Clar): The distribution per unit of the trust for the second half ended Dec 31, 2024, was 3.2 per cent higher at S$0.07681, from the corresponding year-ago period, the manager said on Thursday. Distributable income rose 3.4 per cent year on year to S$338 million and will be paid on Mar 11, after the record date of Feb 14. Units of Clar closed at S$2.59, up 0.8 per cent or S$0.02, on Thursday before the results were released.

Fraser & Neave (F&N): The beverage maker on Friday reported in a business update a net profit of S$52 million for the first quarter ended Dec 31, an 18.8 per cent increase from S$43.8 million in the same period the year before. Revenue went up 16.3 per cent to S$618 million from S$531.6 million a year earlier. Shares of F&N closed 0.8 per cent or S$0.01 higher at S$1.27 on Thursday.

BRC Asia: The steel fabricator announced on Thursday that its profit after tax rose 13.9 per cent to S$19.5 million for the quarter ended Dec 31, despite revenue falling 12.4 per cent year on year to S$349.8 million. As at Dec 31, BRC Asia’s cash and cash equivalents stood at S$171.7 million. Shares of BRC Asia rose 1.1 per cent or S$0.03 to S$2.87, before the update.

Fu Yu Corporation: The components manufacturer said on Thursday that it received a second letter from Victor Lim, its largest shareholder, seeking to requisition an extraordinary general meeting (EGM) to vote on the removal and appointment of directors. This comes after the company announced that it would not convene an EGM requisitioned by Lim in his first letter to the company as it had obtained legal advice stating that the requisition did not meet the legal requirements. Fu Yu’s shares closed 1.6 per cent or S$0.002 lower at S$0.123 on Thursday, before the announcement.

MM2 Asia: The group’s cinema chain, Cathay Cineplex, has paid back S$12 million in rent owed to the landlords, it said on Thursday. The S$2.7 million in rental arrears by Cathay Cineplex to the landlords of its two cinemas represents a quarter of the total payment it owed between Apr 1, 2020, and Jan 31, 2025. Shares of mm2 Asia closed 8.3 per cent or S$0.001 lower at S$0.011 on Thursday, before the announcement.

Japan Foods: The group sank into the red with a net loss of S$2.9 million for the nine months ended Dec 31, compared with a net profit of S$668,000 in the corresponding year-ago period. This was mainly due to higher operating expenses, attributed to an increased number of operating outlets in the 9M period, the group said on Thursday. Shares of Japan Foods closed 1.5 per cent or S$0.005 higher at S$0.335 on Thursday, before the announcement.

SG Local News

Singapore Says Investment Commitments up in 2024, Sees Challenges in 2025

Singapore's Economic Development Board said geopolitical and economic uncertainties would pose challenges in 2025 as it reported on Thursday a rise in investment commitments in the city-state last year.

Fixed asset investment (FAI) commitments rose by S$0.8 billion to S$13.5 billion ($10.0 billion), while total business expenditure (TBE) commitments fell by S$0.5 billion to S$8.4 billion, the EDB said in a statement.

The manufacturing sector accounted for S$11.1 billion of the FAI commitments, led by investments in semiconductors and biomedical manufacturing, while TBE investment was driven by investment in headquarters and professional services.

Singapore Reports 23 Tonnes of Oil Leak Near Sentosa

A diesel oil leak was discovered in the southern waters of Singapore on Wednesday, caused by a damaged shore fuel hose on an island near Sentosa.

About 23 tonnes of oil leaked around 11:40 a.m. from the hose used to refuel patrol craft at the Police Coast Guard’s Brani Base, according to a joint statement by the Singapore Police Force, Maritime and Port Authority, and National Environment Agency on Thursday.

The leak was isolated about four hours later, authorities said. Patrol craft and spill response resources have been deployed to clean up the site, and no oil slicks have been observed. Navigational traffic in the area is not affected, they added.

UOL, Singland, CapitaLand Development Market Tampines Mega Project Parktown Residence at Prices Starting from S$1.07 Million

UOL, Singapore Land (SingLand) and CapitaLand Development will start previews of their Tampines project, Parktown Residence, on Friday (Feb 7) with prices starting in the S$2,100 to S$2,300 per square foot (psf) range.

Located in Tampines Avenue 11, the 99-year leasehold development will house 1,193 units in 12 blocks. There will be two blocks of six or seven storeys, eight blocks of 11 storeys and two blocks of 12 storeys.

One-bedroom units (plus study) of 463 to 506 square feet (sq ft) start from S$1.07 million or S$2,311 psf, and two-bedroom apartments from 592 to 764 sq ft are priced from S$1.33 million (S$2,246 psf). Three-bedroom units, ranging from 926 to 1,184 sq ft, start at S$2.07 million (S$2,235 psf). Four-bedroom apartments are sized from 1,335 to 1,496 sq ft, with prices starting from S$2.85 million (S$2,134 psf).

SingTel Secures $476 Million Green Loan to Develop Data Centre

Singapore Telecommunications (SingTel) said on Friday that it had secured a S$643 million ($476.16 million) green loan to finance the development of a new 58 megawatt (MW) data centre in the city-state.

Lenders DBS Group, OCBC, Standard Chartered, HSBC, and United Overseas Bank have financed the five-year loan, SingTel said in a statement.

Green loans, used to finance the development of sustainable projects, underscore the urgent need for data centre operators to reconcile their climate goals with the explosive growth of artificial intelligence (AI) and cloud computing.

Brazil Chemical Firm Unigel to Go Public in Singapore, Media Report Says

Brazilian chemical firm Unigel will launch an initial public offering (IPO) in Singapore in the next few months, Brazilian newspaper Valor Economico reported on Thursday, citing sources.

Unigel's IPO would come after the firm last month finished restructuring 5.1 billion reais ($885.16 million) in debt.

The deal in Singapore could happen in three to six months, Valor added.

Unigel, which operates in segments such as fertilizers and acrylics, reported net revenues of 806 million reais for the third quarter.