🔥 Hatten Land’s $24M RTO, New IPOs, Global Crypto Rout & Corporate Moves Dominate Asia Markets 🔥
SGX:BCD.SI:CDW Holding
CDW Holding announced a breakthrough in its anti-fouling ship hull bottom paint after an underwater immersion test in Osaka showed plates coated with its additive had zero barnacle attachment. The innovation aims to help the shipping sector cut heavy fouling, a problem that can raise fuel consumption by 20% to 40%. CDW is now enhancing its material compatibility with commercial coatings and seeking a strategic partner for the next development phase.
SGX:J85.SI:CDL Hospitality Trusts
CDL Hospitality Trusts renewed its lease with Hospitality Services Limited for the operation of Grand Millennium Auckland. The new five-year lease, with an optional five-year extension, allows the trust to receive rent equal to the hotel’s net operating profit, with a base rent of NZ$2 million yearly.
Murata Manufacturing
Murata Manufacturing will delist from SGX-ST on Dec 5.
SI:Fuxing China Group
Fuxing China Group will withdraw its secondary listing application on Nasdaq.
SGX:S63.SI:ST Engineering
ST Engineering will deliver a SAR satellite under the UAE’s National SAR Constellation Programme.
SGX:D05.SI:DBS Group
KL:ABMB.KL:Alliance Bank Malaysia
Temasek Holdings (Non-listed)
DBS Group has revised its request to Malaysian regulators, now seeking to acquire up to 30% of Alliance Bank Malaysia instead of up to 49%. This adjustment follows the central bank’s stance that foreign buyers typically cannot exceed the 30% limit. Approval would allow DBS to engage Alliance’s major shareholder, Vertical Theme, backed by Temasek Holdings.
HK:9988.HK:Alibaba Group
Ant Group (Non-listed)
US:META:Meta Platforms
US:OpenAI:OpenAI (Private)
Alibaba Group’s relaunched AI app Qwen drew over 10 million downloads within a week, boosting its Hong Kong-listed shares by more than 5%. The surge signals strong adoption in China, where ChatGPT is unavailable. Alibaba plans to integrate lifestyle and productivity services into Qwen as it transforms into a full AI agent. Meanwhile, affiliate Ant Group reported over one million downloads of its AI assistant LingGuang within four days.
SGX:U11.SI:United Overseas Bank (UOB)
United Overseas Bank (UOB) priced EUR850 million of fixed-rate covered bonds at a 2.718% coupon. The issue, forming the 13th series under its US$15 billion programme, matures on Dec 1, 2030. The bonds are expected to receive Aaa/AAA ratings. Joint lead managers include UOB, BNP Paribas, HSBC Singapore, Landesbank Hessen-Thüringen, and Société Générale.
SGX:O10.SI:Far East Orchard
Far East Orchard aims to raise its assets under management to $3 billion by 2050 and grow its hospitality and student accommodation footprint. It targets 25,000 rooms and 85,000 beds over five years, driven partly by a larger stake in UK operator Homes For Students. The group will expand in Japan, Southeast Asia, the UK and Europe, and build a lodging-focused fund management platform.
SGX:BN4.SI:Keppel Corporation
Keppel signed an MOU with JTC Corporation to advance low-carbon energy infrastructure development on Jurong Island.
SGX:9CI.SI:CapitaLand Investment
CapitaLand Investment will partner Coronade Properties to shape the retail vision for JBCC’s Coronation Square Mall.
SGX:U96.SI:Sembcorp Industries (SCI)
UBS valued Sembcorp Industries at $7.65, estimating it could unlock $3.5–$5.5 billion by monetising its India renewable energy portfolio. The bank compared SCI’s valuations with Adani Green Energy and NTPC Green Energy, saying proceeds could significantly improve Sembcorp’s balance sheet.
SGX:O10.SI:Far East Orchard
Far East Orchard aims to grow AUM to $3 billion by 2050 and expand its hospitality and UK-Europe PBSA portfolio. The group now owns 84% of Homes For Students and targets 25,000 rooms and 85,000 beds within five years.
SGX:5LY.SI:Marco Polo Marine
Marco Polo Marine expects significantly higher FY2025 NPAT due to reversal of impairments and gains from disposing its stake in joint venture Marco Polo Offshore (IV).
SGX:BEC.SI:BRC Asia
BRC Asia reported 2HFY2025 revenue of $837.4 million, up 16%, though earnings fell 5% due to lower margins. Full-year earnings rose 1% to $94.3 million. The steel supplier will pay a 20-cent total dividend and maintains a $1.9 billion order book, supported by Singapore construction demand and overseas expansion.
SGX:U96.SI:Sembcorp Industries (SCI)
UBS valued Sembcorp Industries at $7.65 per share, estimating the company could unlock $3.5–$5.5 billion by monetising its India renewable energy portfolio. UBS compared potential valuations to Adani Green Energy and NTPC Green Energy, projecting significant strengthening of Sembcorp’s balance sheet even if only half the portfolio is sold.
SGX:PH0.SI:Hatten Land
Hatten Land, under judicial management, is acquiring construction firm Metrocon via a $24 million reverse-takeover. The deal will be paid through 5.57 billion new shares issued to LBD Engineering, giving it 60% ownership. Metrocon earned $1.98 million on $41.3 million revenue in 9MFY2025. Judicial managers say the acquisition provides a path for business recovery and creditor restructuring.
HK:6400.HK:Infinity Development Holdings
Infinity Development Holdings launched its Singapore IPO, raising $13.7 million from 35.1 million placement shares at 39 cents. The Hong Kong–listed glue manufacturer plans regional expansion, supplying mainly shoe makers across Asia. For 6MFY2025, earnings rose 38% y-o-y to HK$56.6 million on HK$409.3 million revenue. Trading starts Dec 3.
SGX:S58.SI:SATS
SATS’ subsidiary TFK Corporation secured a three-year inflight catering deal with Turkish Airlines, supplying halal-certified meals from its Narita and Haneda facilities. The contract strengthens SATS’ food solutions presence in Japan.
SGX:J36.SI:Jardine Matheson
Jardine Matheson said its 3QFY2025 portfolio performed in line with expectations. Astra saw mixed results with stronger financial services and motorcycles offset by weaker coal. Hongkong Land’s profit fell on lower Hong Kong office contributions, while DFI Retail Group posted a 48% profit increase. Mandarin Oriental saw RevPAR improvements globally and expanded its hotel management footprint.
SGX:PRG.SI:Livingstone Health Holdings
Livingstone Health will acquire 20% of Affinity Surgery Centre for $470,000 as part of its expansion strategy in specialist healthcare. The purchase boosts earnings per share to 0.11 cents, funded through internal resources.
KL:0229.KL:KJTS Group
KL:0175.KL:MN Holdings
KL:0307.KL:CBH Engineering
KL:0065.KL:Powerwell
KL:0274.KL:Jati Tinggi Group
JP Morgan analysts say “electricians will be the next billionaires,” citing a booming data centre market in Malaysia. MEP-focused stocks such as KJTS Group, MN Holdings, CBH Engineering, Powerwell and Jati Tinggi have surged this year. Analysts project RM43 billion in MEP opportunities over five years as demand accelerates.
🔥 Fed Signals December Rate Cut as Big-Name Stocks Shake Up Indexes and AI Giants Surge 🔥
US:QQQ:Nasdaq Composite
San Francisco Federal Reserve President Mary Daly warned that the US economy is “very vulnerable” and said she would support an interest rate cut in December. Although not a voting member this year, her views align with New York Fed President John Williams, who also sees room to lower rates. Traders now price in over an 85% chance of a December cut.
US:UPWK:Upwork
US:FIBK:First Interstate BancSystem
US:PTCT:PTC Therapeutics
US:SNDK:Sandisk
US:PINC:Premier
US:HBI:Hanesbrands
Upwork, PTC Therapeutics, and First Interstate BancSystem surged after being selected for inclusion in the S&P Small Cap 600 index. PTC Therapeutics replaces Sandisk, Upwork replaces Premier, and First Interstate BancSystem will replace Hanesbrands on Dec. 2.
US:ZM:Zoom Communications
Zoom Communications climbed nearly 4% after reporting strong quarterly earnings and raising its full-year guidance. The company also expanded its share buyback program by US$1 billion.
US:SNDK:Sandisk
US:IPG:The Interpublic Group of Companies
Sandisk jumped 9% after being moved into the S&P 500, replacing The Interpublic Group of Companies.
US:AVGO:Broadcom
US:GOOGL:Alphabet
US:NVDA:Nvidia
Broadcom rallied 11.1%—its best day since April—as investors piled back into AI-related tech stocks. Analysts praised Broadcom’s long-standing partnership with Alphabet, highlighting its ASIC chip contributions powering Google’s TPUs, which compete with Nvidia GPUs. Analysts from Melius Research and Jefferies lifted their price targets, citing massive long-term AI demand.
US:GOOGL:Alphabet
Alphabet shares surged over 5% as investors responded positively to its new AI model Gemini 3, its upcoming seventh-generation TPU “Ironwood,” and new AI tools such as Nano Banana Pro and Google Antigravity. Alphabet shares are up 21% in the past month.
🔥 Nvidia Smashes Records as Global Markets Rally on Fed Cut Hopes; Sembcorp, Tech & Macro Themes Dominate Headlines 🔥
US:NVDA:Nvidia
Nvidia delivered record 3QFY2025 revenue of US$57 billion, up 22% q-o-q and 62% y-o-y, with GAAP and non-GAAP EPS at US$1.30. Morningstar’s Brian Colello reaffirmed a four-star rating, citing insatiable AI demand and record US$51.2 billion data centre sales. Nvidia lifted near-term revenue forecasts and now expects US$500 billion in Blackwell and Rubin product revenue by 2026. Colello raised his fair value estimate to US$240, calling the stock “undervalued” despite volatility.
US:BTC:Bitcoin
Bitcoin tumbled as much as 6.4% to US$81,629, heading for its worst month since 2022’s crypto meltdown. Ether fell below US$2,700 and the crypto market value dipped below US$3 trillion. Forced liquidations and large wallet sell-downs intensified panic, while crypto ETFs saw nearly US$1 billion in outflows.
US:NVDA:Nvidia
US:GOOGL:Alphabet
Nvidia slipped while Alphabet jumped 3.1%. Strong earnings from Intuit and Ross Stores also supported market sentiment, though analysts warn markets may be unwinding excesses from months of aggressive buying.
US:MSTR:Strategy Inc.
Crypto-linked Strategy Inc. fell 5% as Bitcoin’s crash raised margin call risks for its leveraged holdings. JPMorgan warned the firm could be removed from key benchmarks like MSCI USA and Nasdaq 100.
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