Market Snapshot

Singapore stocks opened higher on Tuesday. STI rose 0.6%; SIA rose 1.5%; Genting Singapore rose 1.4%; SGX and Seatrium rose 1.1%.

Stocks to Watch

Wilmar International: The agribusiness group maintained its innocence after four judges who cleared it in a corruption case related to obtaining export permits, were reportedly arrested. A court last month acquitted three companies – Wilmar Group, Musim Mas Group and North Sumatra-based Permata Hijau Group – of charges of misconduct in obtaining export permits in 2022. A Reuters’ report on Monday said that three judges who made the ruling were arrested on Sunday night, following the arrest of a local court’s chief judge on bribery charges in the same matter. “We believe we are not guilty of the charges as our actions during that period to increase the supply of palm oil to the market, despite the additional cost incurred, was intended to help the government improve domestic supplies and reduce prices,” said Wilmar in a statement released after the market closed on Monday. The counter closed on Monday up 0.3 per cent, or S$0.01, to S$3.15 on a cum dividend basis.

ICP Ltd: ICP requested a trading halt on Tuesday morning, pending the release of an announcement. The counter closed on Monday 12.5 per cent or S$0.001 lower at S$0.007.

SG Local News

Singapore Kicks off Points-Based Relief Scheme for Eligible Jobless

The long-awaited SkillsFuture Jobseeker Support scheme opened for applications on Tuesday (Apr 15), with jobseekers having to score activity points to receive financial relief.

Under the scheme, which is administered by Workforce Singapore (WSG), eligible jobless Singaporeans can get up to S$6,000 over six months if they meet monthly activity targets.

From the first quarter of 2026, the scheme will be extended to permanent residents too.

Singapore Can No Longer Rely on "Working" Global Trading System to Fit into, Unlike in Past Crises: SM Lee

Singapore can no longer rely on a "working" global trading system to fit into, unlike in previous crises, and a recession, though unlikely, remains a possibility, Senior Minister Lee Hsien Loong said on Monday (Apr 14).

Addressing the impact of the United States' sweeping tariffs, Mr Lee said that uncertainty is high and over the next five to 10 years, Singapore faces "a less friendly world".

"I hope that Singaporeans understand what is happening, what is at stake, and what we must do together to secure our future," he said in a speech at the National Trades Union Congress (NTUC) Centre before a closed-door dialogue with close to 500 union leaders.

Great Eastern Chairman Declines to Speculate on Potential Delisting at AGM

Great Eastern Holdings (GEH) chairman Soon Tit Koon said that he does not wish to speculate on the potential delisting of the insurer, as the company is working with its financial adviser to explore options for complying with the Singapore Exchange’s (SGX) free-float requirements.

Speaking at the annual general meeting (AGM) of OCBC’s insurance arm on Monday (Apr 14), Soon acknowledged that the board recognises that the current trading suspension is “not a satisfactory situation”.

He added that GEH will engage with parent company OCBC to identify alternative solutions that it may not be able to pursue independently.