Market Snapshot

Singapore stocks opened lower on Friday. STI fell 3%; DBS, Seatrium fell 5%; OCBC fell 4%; UOB, Yangzijiang Shipbuilding, Nio fell 3%; UOL fell 1.4%.

Stocks to Watch

SATS LTD.: Terminal operator Sats-Creuers Cruise Services (SCCS), a 60:40 joint venture between Sats and European cruise operator Creuers del Port de Barcelona, is refurbishing Marina Bay Cruise Centre Singapore (MBCCS). The S$40 million upgrading works, which began in the first quarter of the year, will raise the centre’s handling capacity, update amenities and provide new facilities. The ground handler on Friday added that SCCS’ operator agreement for MBCCS has been extended for eight years, with the option to extend for another two years, potentially up to March 2037. Creuers is a unit of international cruise-port operator Global Ports Holding. Sats shares closed on Thursday 7.7 per cent or S$0.19 higher at S$2.65.

CapitaLandInvest: Its lodging business Ascott has inked three agreements to add 600 units to its India portfolio, a move that will grow its total portfolio in the country to around 6,100 units across 22 properties. The new units will be located in the cities of Lucknow and Thanjavur, and the state of Goa. Ascott plans to increase its India portfolio to some 12,000 units by 2028, more than double the roughly 5,500 units in its portfolio as at the end of 2024. The expansion plans come on the back of favourable growth prospects in the Indian hospitality market, said Ascott on Thursday. Shares of CapitaLand Investment closed 4.2 per cent or S$0.10 higher at S$2.50 on Thursday.

SG Local News

Singapore Expected to Ease Currency Settings on Tariff Risks

Singapore’s central bank is expected to ease monetary policy settings further, days after US President Donald Trump unleashed the steepest tariffs in a century, threatening to disrupt global trade and sparking risk of retaliation.

All 14 economists in a Bloomberg survey that closed at 5 p.m. on Wednesday forecast the Monetary Authority of Singapore, which uses the exchange rate rather than interest rates to stabilize prices, will reduce the slope in the policy band of the Singapore dollar’s nominal effective exchange rate, or S$NEER, on Monday.

While the US dollar gained against many Asian currencies in the wake of Trump’s election victory in November, the picture has become more nuanced in the past month. Investors have been selling US assets in response to higher-than-expected tariffs while Singapore’s dollar has gained about 2.9% against its American counterpart this year.

Singapore Man Accused of Chip Fraud Wields Global Connections

The Chinese-born entrepreneur at the center of a Singapore server-computer fraud case helps to run more than a dozen companies with ties to tech leaders including AI-chip provider Nvidia Corp., serving clients in the island state and markets such as Malaysia.

Alan Wei Zhaolun, a naturalized Singaporean who owns or helps to manage at least 15 firms including Aperia Cloud Services and A-Speed Infotech Pte., spent more than two decades building his businesses in Asia, according to the city-state’s corporate registry. They operate in fields such as computers and data networks, according to the database.

His international network and extensive relationships underscore the global nature of the tech industry, which has made it a challenge for the US to enforce its export restrictions. Wei, 49, is one of three men charged by Singapore authorities of masking the real destinations of hundreds of millions of dollars of American computer servers they purchased.