🚨 From Boardroom Battles to Billion-Dollar Buyouts: SG Market on Fire! 🔥
SGX: CEDU
👀 Drama at Dasin Retail Trust! Trustee-manager claps back at ex-director Zhang Zhongming’s claims of being ignored and mismanagement. Says legal advice and uncooperative Chinese personnel explain the delays.
SGX: 1J0, SGX: L03
✅ SLB Development goes private! 96% of shareholders said yes to Lian Beng’s 23¢/share offer. OSC Capital (Ong family-owned) seals the deal.
SGX: E28
📈 Frencken Group shines in semiconductors! 1QFY25 earnings up 12% to $10M, revenue up 11.5% to $215.8M. Semiconductor segment soared 33.7%. Outlook? Cautiously optimistic.
SGX: S85
😞 Straco sees sharp earnings drop. 1Q profit fell 54.8% to $4.1M due to China consumer slowdown + trade tensions. But Singapore Flyer still flying high.
SGX: S59
🛫 SIA Engineering signs $1.3B mega deal with Singapore Airlines (SGX: C6L) & Scoot for MRO services. Two-year contract expected to boost labour revenue. Shares up 0.41%.
SGX: BEI
📦 LHT’s CEO wants to buy the biz! Yap Mui Kee submits offer to acquire nearly all company assets. Board (excluding Yap) reviewing now. Offer valid till Aug 19.
SGX: D01
📉 DFI Retail’s Q1 profit down 18% due to Yonghui exit. Ex-divestment, profit actually rose 28%. FY25 guidance: US$230M–US$270M. Shares dipped 1.5%.
SGX: QC7, SGX: 1D4
🦷 Q&M’s takeover of Aoxin Q&M closing soon! Final offer of S$0.0321/share ends Jun 16. No extensions, no price change. Both stocks slipped pre-announcement.
SGX: O08
🛍️ Ossia goes IFA route. Asian Corporate Advisors appointed to advise on going private. Circular with recommendations coming in 14 days. Stock up 0.6%.
SGX: J69U
🏢 Frasers Centrepoint Trust eyes Northpoint South Wing! May use debt or perpetual securities. Equity raise already helped pay off old debt. Units up 1.4%.
SGX: A26
🏗️ Sinarmas Land’s buyer stands firm. Lyon Investments confirms S$0.375/share final offer, up 21% from initial bid. Deadline extended to Jun 2.
SGX: C76
🎧 Creative gets a new CEO! Freddy Sim steps in after Sim Wong Hoo’s passing. Just like his brother, he’s taking S$1/month. Stock rose 2.3% to S$0.90.
SGX: EHG
🩺 Econ Healthcare trading halted! Rumours swirl as TPG eyes privatisation via S$88M deal. Shareholders to get S$0.33 or a mix of cash + shares.
SGX: C09
🏘️ City Developments crushes Q1 with S$1.9B in sales! Strong SG launches + UK project + China contributions. Retail and office assets solid, but China office lagging. Shares dipped 0.4%.
📌 Follow for more sizzling SG market highlights and boardroom drama! #SGStocks #SGX #Markets #FinanceNews #SingaporeInvesting #EarningsSeason
HKEX: 1211.HK, SZSE: 300750.SZ, HKEX: 941.HK, HKEX: 2388.HK, HKEX: 1530.HK, HKEX: 1093.HK
🔥 Hang Seng Index soared 348 pts as BYD (1211.HK) hit a new high and CATL (300750.SZ) jumped 16.4% in debut. Gains also seen in China Mobile (941.HK), BOC Hong Kong (2388.HK), 3SBio (1530.HK), and CSPC Pharma (1093.HK).
ECONOMIC: CHINA UNEMPLOYMENT
👥 China’s youth unemployment (16–24) dropped to 15.8% in April, a 4-month low—hinting at early signs of job market recovery.
HKEX: 02378.HK, LSE: PRU
📉 Prudential plc (02378.HK / PRU) continues its buyback streak, repurchasing 260,000 shares in London for GBP2.24M. Total buybacks since mandate: 974,500 shares.
SSE: 603986.SH
🚀 GigaDevice Semiconductor (603986.SH) is planning a Hong Kong H-share listing to ramp up global presence and boost brand competitiveness.
HKEX: 00005.HK, LSE: HSBC
💷 HSBC Holdings (00005.HK) executed massive buybacks—4.97M shares in London worth GBP43.62M, plus another 2.82M in Hong Kong on May 19.
HKEX: 00939.HK
💰 China Construction Bank (00939.HK) completed issuance of RMB40B undated Additional Tier 1 bonds with 1.99% coupon—resetting every 5 years.
ECONOMIC: HONG KONG UNEMPLOYMENT
📊 Hong Kong’s unemployment rose to 3.4% (Feb–Apr), beating forecasts and flagging rising pressure in the labour market.
HKEX: 1211.HK
🚗 BYD (1211.HK) entered a strategic partnership with CAR Inc, boosting its influence in China’s auto-sharing and rental ecosystem.
RBA
💸 The Reserve Bank of Australia cut rates by 25 bps amid global economic jitters. The AUD fell 0.4% vs USD post-announcement.
HKEX: 3690.HK
🤖 Meituan-W (3690.HK) to launch ‘NoCode’—a new AI tool allowing app creation with minimal coding. Big play into the AI dev space.
Fitch Ratings
📉 Fitch warned that falling HIBOR rates may not shield HK banks from asset quality risk. Industry outlook remains pressured.
HKEX: 1137.HK
🛍️ HK Tech Venture (1137.HK) chairman Ricky Wong called HK retail “precarious” and denied any current plans for privatization.
HKEX: 1530.HK, NYSE: PFE
💊 3SBio (1530.HK) surged after Citi raised its TP to HKD21 following progress on its drug SSGJ-707 in partnership with Pfizer (PFE).
HKEX: 0700.HK
🎮 Tencent (0700.HK) launched Hunyuan Game Visual Generation, an AIGC platform for industrial-grade gaming content—pushing its AI frontier.
HKEX: 300750.SZ
📈 CATL (300750.SZ) ended midday up 17% at $307.6 in debut trading. Bullish forecasts from Ping An and Soochow Securities add fuel to the rally.
HKEX: 1093.HK, HKEX: 1177.HK
🦠 Simcere Pharma (1093.HK) and Junshi Biosciences (1177.HK) climbed ~5% on renewed COVID-related demand across China and HK.
HKEX: 2318.HK
📊 Ping An Securities (subsidiary of Ping An Insurance – 2318.HK) gave a bullish 2025–26 outlook for CATL, citing strong global growth and market share expansion.
LSE: PRU, HKEX: 2378.HK
🔁 Prudential plc (PRU / 2378.HK) continued its capital management push with a share buyback of 254,500 shares in London, worth ~GBP2.22M.
HKEX: 02838.HK
📈 FWD Group is making a second attempt at going public—refiling its IPO application with the Hong Kong Stock Exchange after bouncing back to profitability in the previous year.
PBOC, HKEX: 3988.HK, HKEX: 1398.HK, HKEX: 0939.HK, HKEX: 3968.HK
🏦 The People’s Bank of China (PBOC) trimmed its 1-year and 5-year LPRs to 3.0% and 3.5%, respectively. In response, major banks BOC (3988.HK), ICBC (1398.HK), CCB (0939.HK), and CMB (3968.HK) lowered deposit rates by up to 25bps to stimulate lending and support the economy.
HKEX: 300750.SZ
⚡ CATL (300750.SZ) exploded 13% in its Hong Kong trading debut, opening at HK$296 and becoming the largest IPO of 2025, raising HK$35.7B (US$5.91B). With options exercised, proceeds could hit US$6.86B.
CATL, a 38% market-share leader in EV batteries, supplies Tesla (NASDAQ: TSLA), Volkswagen (XETRA: VOW3), Ford (NYSE: F), and Mercedes-Benz (XETRA: MBG). Despite being blacklisted by the Pentagon, it gained support from JPMorgan (NYSE: JPM) and Bank of America (NYSE: BAC) to push through the listing.
With a valuation of 17x earnings and strong growth fundamentals—including plans for a US$7.6B Europe expansion—analysts from Jefferies and Macquarie are bullish. Its latest battery tech can charge 520km in 5 minutes, with full range hitting 1,500km. Chairman Robin Zeng and others have seen their net worth soar past US$73B, per Bloomberg.
RATINGS: MOODY’S
⚠️ Moody’s cut deposit ratings of major U.S. banks to Aa2, following the U.S. sovereign downgrade, intensifying concerns about systemic risks linked to debt ceiling and fiscal imbalance.
KL:SENDAI
🏗️ Eversendai Corp Bhd scored RM1.3B in new contracts across the UAE, India, Singapore & Germany—including a major German offshore wind project. Order book now stands at RM6.6B.
KL:PCHEM
📉 Petronas Chemicals Group Bhd posted a rare RM18M net loss in 1QFY2025 due to weaker margins, forex losses, and rising costs. This is only its second quarterly loss since 2011.
KL:SUNCON
🚧 Sunway Construction Group Bhd more than doubled its 1Q net profit to RM75.72M. It announced a 5 sen dividend and secured a RM260M contract for a Johor data centre’s final phase.
KL:SPTOTO
🎯 Sports Toto Bhd delivered a 12-year high net profit of RM105.66M in 3QFY2025, up 54.3% YoY, driven by the Supreme 6/58 jackpot surge. Revenue hit a record RM1.91B. A 2 sen dividend was declared.
KL:MYEG
💻 MyEG Services Bhd reported a 16.5% profit jump to RM181.64M in 1QFY2025, fueled by its Zetrix blockchain platform. Revenue rose 28.8% to RM299.99M. No dividend declared.
KL:AEON
🛒 Aeon Co (M) Bhd posted RM68.1M in 1Q net profit (+18.7% YoY), buoyed by festive spending. Revenue climbed 6.6% to RM1.244B. No dividend declared.
KL:TSH
🌴 TSH Resources Bhd saw net profit soar 140% to RM48.19M in 1QFY2025, on stronger palm oil prices and improved performance. Revenue rose 14% to RM275.33M. No dividend declared.
KL:PEKAT
🔆 Pekat Group Bhd tripled its 1QFY2025 net profit to RM12.06M, with revenue surging to RM150.31M thanks to its solar segment. No dividend declared.
KL:VELESTO
🛢️ Velesto Energy Bhd bagged a Vietnam drilling contract involving over 40 wells using its NAGA 4 rig. Operations begin in 1H2026, boosting utilisation and 2026–2027 earnings.
KL:SAMAIDEN
☀️ Samaiden Group Bhd won a RM45M solar EPCC contract in Kedah under the LSS5 programme. Commercial operation targeted by July 2027.
KL:DPHARMA
💉 Duopharma Biotech Bhd and Biocon Sdn Bhd secured a six-month contract extension to supply insulin to Malaysia’s public hospitals, valid through Oct 28, 2025.
KL:SCABLE
⚠️ Sarawak Cable Bhd will be suspended on May 28 and could be delisted May 30 after failing to meet PN17 requirements. It has until May 27 to appeal.
KL:ANNUM
⚠️ Annum Bhd faces the same fate as SCABLE—trading suspension on May 28 and possible delisting by May 30. Appeal deadline: May 27.
📉 Wall Street Pauses After Rally; Tech Earnings, AI Buzz, and Macro Jitters Drive Market Mood
INDEX: S&P 500 (^GSPC), Nasdaq 100 (^NDX), Dow Jones Industrial Average (^DJI)
U.S. equity futures pulled back Tuesday night after a strong run. S&P 500 futures and Nasdaq 100 futures each dipped 0.2%, while Dow futures slipped 93 points. Earlier, the S&P 500 ended a six-day winning streak, the Nasdaq Composite (^IXIC) posted its first loss in three sessions, and the Dow (^DJI) snapped a three-day rally.
Despite the pullback, all three indices remain above their levels from April 2, when President Trump unveiled sweeping tariffs. LPL Financial’s Kristian Kerr noted risks remain despite the swift rebound. Eyes are now on Washington for updates on budget and deficit debates.
NYSE: LOW, NYSE: TGT, NYSE: GOOS, NYSE: TJX, NYSE: SNOW
📝 Earnings Watch: Wednesday brings reports from Lowe’s (LOW), Target (TGT), Canada Goose (GOOS), and TJX Companies (TJX) before the bell. Snowflake (SNOW) will report after market close.
NASDAQ: PANW
🔻 Palo Alto Networks (PANW) dropped nearly 4% post-market after its fiscal Q3 remaining performance obligations came in at $13.5B—just under StreetAccount’s $13.54B estimate.
NASDAQ: TTWO
💸 Take-Two Interactive (TTWO) slipped 3% after announcing a $1 billion stock offering, led by JPMorgan (JPM) and Goldman Sachs (GS).
NYSE: KEYS
📈 Keysight Technologies (KEYS) surged 5% after posting better-than-expected Q2 earnings: $1.70 EPS on $1.31B revenue, beating LSEG estimates.
NYSE: MOD
📊 Modine Manufacturing (MOD) rose 2% after reporting Q4 EPS of $1.12, beating the expected $0.96. Revenue hit $647.2M, surpassing forecasts.
NYSE: TOL
🏠 Toll Brothers (TOL) jumped 6% after smashing Q2 estimates with $3.50 EPS on $2.71B revenue, topping consensus figures of $2.83 and $2.48B.
NASDAQ: TSLA
⚡ Tesla (TSLA) gained 0.4% after CEO Elon Musk said global sales had improved and emphasized growth from autonomous driving and robotics units.
NASDAQ: GOOGL
🤖 Alphabet (GOOGL) fell 1.5% despite unveiling major AI updates at its developer event. CEO Sundar Pichai introduced a new AI-driven search experience.
NASDAQ: NVDA
🚨 NVIDIA (NVDA) CEO Jensen Huang warned that extended export restrictions on its H20 AI chips could slash revenue by as much as $15 billion.
DJIA, S&P 500
📈 Despite ongoing credit concerns, the Dow added 137 points and the S&P 500 booked a sixth straight gain earlier in the week, showcasing investor resilience.
COMMODITIES: BRENT & WTI
🛢️ Oil prices eased as geopolitical risks weighed on sentiment. Brent settled at $65.38 and WTI at $62.56. Traders await U.S. inventory data and global growth cues. Fed rate cuts expected later in 2025 may revive demand.
Thank you
