Singapore shares rose 1.2% this week and the Straits Times Index crossed the 4,000 mark for the first time on Friday. In economic news, Singapore's Import Price Index fell 3.3% year on year in February, extending the 2.2% decrease in the preceding month, according to a report by the Department of Statistics.

Singapore's Manufactured Products Price Index fell 0.5% in February, reversing a 3.6% gain in January, the Department of Statistics reported. Singapore's Domestic Supply Price Index also fell 0.7% in February after a 3.6% rise in January.

Sinarmas Land up 23%; Centurion up 11.6%; YZJ Fin Hldg up 9.66%; SingPost, First Resources up more than 8%. NIO down 14%; Top Glove was down 7.6%; SIA Engineering, Meituan HK SDR 5to1 down over 6%.

Market News

Sinarmas Land Shares Surge 23% After Privatisation Offer

Shares in Sinarmas Land closed at 32 cents on March 28, after the billionaire Indonesian Widjaja family made an offer to privatise the mainboard-listed company for 31 cents per share after trading hours on March 27. 

According to a March 27 bourse filing, the offeror, Lyon Investments, includes executive chairman Franky Oesman Widjaja, CEO Muktar Widjaja and Margaretha Natalia Widjaja among its directors. The family says the privatisation offer is an opportunity for shareholders to realise a clean exit at a premium, and to realise their investments amid low trading liquidity of shares.

Sinarmas Land was incorporated in January 1994 and listed on the mainboard of the Singapore Exchange in July 1997.

Centurion’s Executive Director Loh Acquires Another 100,000 Shares

Centurion’s executive director and joint chairman David Loh has acquired another 100,000 ordinary shares in the company via market transaction for $1.19 a piece, according to a bourse filing on March 27. 

The total shares were purchased for a price of $118,167 in two separate transactions on March 26 and March 27, where the director bought 93,000 shares and another 700 shares respectively. This brings Loh’s total stake in the company to 59.793%, up from the 59.781% previously. 

SingPost Soars on Completion of A$1 Billion Australian Business Divestment

SingPost shares surged following the announcement of the successful completion of its Australian logistics business divestment. The sale of Freight Management Holdings to Australia-based private equity firm Pacific Equity Partners fetched A$1 billion (S$845 million), exceeding initial expectations.

The divestment generated gross proceeds of approximately A$781.5 million, slightly higher than the previously anticipated A$775.9 million. More importantly, SingPost reported an estimated gain of S$289.5 million from the transaction, significantly boosting the company's financial position and potentially freeing up capital for future investments or shareholder returns.

NIO Announces HK$4 Billion Equity Placement; Shares Slide 14%

NIO (HKG:9866, SGX:NIO) priced its upsized equity placement at HK$4.03 billion, offering 136.8 million Class A ordinary shares at HK$29.46 per share, according to a Thursday filing with the Hong Kong bourse.

The offering is expected to close on or before April 7, subject to customary closing conditions. Morgan Stanley, UBS, CICC, and Deutsche Bank are placing agents.

Proceeds will fund research, development, and corporate needs. The Placement Shares are not registered under U.S. securities laws and, therefore, cannot be offered to the public in the United States.

More Potential Acquisitions, Exclusive Deals for Keppel DC Reit

The manager of Keppel DC Real Estate Investment Trust (Keppel DC Reit) plans to capitalise on sponsor Keppel’s intended expansion of its portfolio of data centres to a gross power capacity of 1.2 gigawatts (GW) in the near term, it said in the annual report released on Monday (March 24).

“(That) will form a pipeline of assets that Keppel DC Reit may potentially acquire. Moreover, Keppel’s established track record and the extensive network with industry players provide us with access to exclusive, off-market deals from third parties,” said Christina Tan, chairman of Keppel DC Reit’s manager.

“We will continue to optimise our capital structure to support our growth ambitions,” she added.

Yangzijiang Shipbuilding Completes Acquisition of 34% Equity Stake in Tsuneishi Group’S Shipbuilding Unit

Yangzijiang Shipbuilding has completed the capital injection for a 34% equity stake in Tsuneishi Group (Zhoushan) Shipbuilding (TZS), making the company a 34% owned associate.

Prior to the acquisition, TZS was a wholly owned subsidiary of Tsuneishi Holdings. 

The acquisition was first announced on Sept 12, 2024, for a purchase consideration of RMB833.1 million ($153.62 million), based on a willing-seller, willing-buyer agreement.