U.S. stocks ended Monday slightly lower as renewed tensions between the U.S. and Iran dampened investor sentiment, with the S&P 500 falling about 0.24%, the Dow Jones Industrial Average slipping marginally, and the Nasdaq Composite dropping around 0.26%, snapping its longest winning streak in decades.
TOTM Technologies’ substantial shareholder Khoo Thomas Clive raises stake in the company
Aoxin to acquire second dentral group in China; both deals to cost RMB526 mil
Frasers Centrepoint Trust in talks to sell White Sands mall for over S$470 million
Aspial Lifestyle prices S$28 million in fixed-rate notes due 2029 at 5.1%
Seatrium unit prices S$400 million in fixed-rate notes due 2031 at 2.95%
Paragon REIT was taken private in 2025 on the premise that its flagship mall required a costly and risky overhaul, prompting many retail investors to exit at S$0.98 per unit. However, just a year later, CapitaLand Integrated Commercial Trust (CICT) agreed to acquire Paragon for S$3.9 billion and reframed the same redevelopment as a growth opportunity rather than a liability. The shift highlights how scale changes perception: what was a major earnings drag for a small REIT becomes manageable for a large, diversified trust that can absorb renovation downtime and leverage stable income from medical suites. CICT may even pursue a less extensive upgrade than initially suggested, raising doubts about whether the earlier “urgent overhaul” narrative was overstated. The acquisition also strengthens CICT’s dominance in Singapore’s prime retail belt, enhancing pricing power and long-term positioning. While the deal is expected to boost overall returns, retail investors are diluted and largely excluded from the upside, illustrating how institutional advantages can reshape both value perception and outcomes in major property transactions
Iran is cautiously considering participating in peace talks with the US in Pakistan as a ceasefire deadline approaches, signaling a softer stance compared to earlier outright rejection, though no final decision has been made. Mediation efforts by Pakistan, including attempts to ease a US blockade on Iranian ports, have been key in encouraging dialogue. However, tensions remain high following incidents such as the US seizure of an Iranian vessel, with both sides exchanging threats and maintaining firm positions—particularly Iran’s refusal to negotiate its missile programme. Ongoing disagreements, distrust over US intentions, and unresolved issues around sanctions and security continue to complicate negotiations. Meanwhile, disruptions in the Strait of Hormuz and fears of ceasefire collapse have impacted global oil markets, underscoring the high stakes of the situation
Coliwoo plans to expand overseas and grow its room inventory to 10,000 by 2030 as it seeks opportunities beyond Singapore’s maturing market, targeting countries where renting is more common and conducive to co-living models. While Singapore remains its core base—supported by strong demand from students, professionals, and corporate clients—the company is exploring scalable markets and enhancing its offerings to improve tenant retention and pricing power. With about 3,200 rooms and high occupancy of 96.5%, Coliwoo is upgrading existing properties, launching new projects, and maintaining flexibility in its expansion strategy. Meanwhile, its parent LHN is diversifying into areas like self-storage, eldercare, facilities management, and energy solutions, positioning itself for broader growth while continuing to support Coliwoo’s development
China Aviation Oil (CAO) stated that the proposed merger between its parent, China National Aviation Fuel (CNAF), and Sinopec is not expected to materially impact its operations, as the restructuring occurs at the parent level and does not affect CAO’s listing status. While regulatory approvals are ongoing, CAO will continue monitoring developments and cooperating where necessary. The company remains focused on strengthening its core jet fuel trading business by enhancing its global trading and aviation marketing platforms and improving supply chain resilience. It is also expanding into sustainable aviation fuel and carbon-related businesses, aiming to support long-term growth despite uncertain margins. With contributions from key associates and improving aviation demand, CAO is cautiously optimistic about its 2026 outlook and future opportunities in the global green aviation market
Shares of Koh Brothers Eco Engineering (KBE) surged after its subsidiary Oiltek surpassed a S$1 billion market capitalisation, briefly jumping over 26% intraday before closing 13.5% higher, while parent company Koh Brothers Group (KBG) also recorded strong gains . Despite KBE owning 68.1% of Oiltek, its own valuation remains significantly lower, highlighting a potential market undervaluation. Oiltek’s rapid rise—boosted by higher oil prices and growth prospects such as a planned US$350 million sustainable aviation fuel project—has made it the first Catalist-origin stock to exceed S$1 billion in market cap. The disparity in valuations has sparked shareholder calls for value unlocking, though proposals to distribute Oiltek shares were rejected. Analysts suggest investors may need patience as the market gradually recognises this hidden value
ISOTeam has secured $30.1 million worth of new contracts across 23 projects, boosting its total order book to $186.5 million and providing strong revenue visibility through 2029. These projects, spanning coating and painting, repair and redecoration, and electrical works, will be carried out over the next two to three years. The steady stream of contract wins reflects continued tender momentum into 2026, supported by Singapore’s robust pipeline of public infrastructure and housing projects, indicating sustained growth opportunities for the company
Keppel REIT delivered strong performance in 1QFY2026, with net property income rising 9.7% year-on-year, driven by higher contributions from Top Ryde City Shopping Centre and improved occupancy, while joint venture income surged 37.6% due to increased stakes in Marina Bay Financial Centre Tower 3, higher rents, and lower borrowing costs. Distributable income grew 19.7% to $57.9 million, supported by strong leasing activity, high portfolio occupancy of 97.1%, and positive rental reversion of 17.2%. The REIT maintained a stable financial position with moderate leverage (40.2%), manageable debt costs, and a significant portion of fixed-rate and sustainability-linked borrowings. Its portfolio benefits from long lease expiries and strong demand, particularly from financial sector tenants, while its diversified $11.8 billion portfolio across Singapore and key international markets underpins resilience despite macroeconomic uncertainties
Nam Cheong and the offshore and marine (O&M) industry have experienced a strong recovery—“bangkit semula”—after a prolonged downturn caused by low oil prices, oversupply, and reduced investment. Nam Cheong was hit hard, facing major losses, debt exceeding RM1.6 billion, and restructuring in 2017. To survive, it shifted from shipbuilding to ship chartering, building new capabilities that significantly boosted revenue and margins. Despite another restructuring during Covid-19, the company emerged stronger, with steady revenue growth, long-term charter contracts, and improved profitability. By 2025, it reported strong earnings and attracted positive analyst attention, with many viewing it as undervalued due to its young fleet, strategic pivot, and expansion into new markets. Looking ahead, limited global vessel supply, rising offshore activity, and demand for newer, more efficient ships position Nam Cheong for sustained long-term growth, although challenges like supply chain constraints and careful market expansion remain.
Thank you
