Market Snapshot
Singapore stocks opened lower on Thursday. STI fell 0.77%; CSE Global fell nearly 5%; AEM SGD, UMS, Top Glove down around 2%; Olam Group, Seatrium, SGX, SIA down around 1%.
Stocks in Focus
$CapitaLand Ascendas Reit(A17U.SI)$ (Clar): The real estate investment trust (Reit) is buying a modern ramp-up logistics facility at 5 Tuas Avenue 5 for a purchase consideration of S$133.9 million in cash. The purchase price represents a 1.5 per cent discount to the property’s independent market valuation of S$136 million as at Feb 1, 2026. Had the deal been completed at the start of 2025, the Reit’s distribution per unit would increase by about S$0.00033, or 0.2 per cent, on a pro forma basis.
DFI Retail Group: Almost 60 Holland & Barrett (H&B) products have made it to shelves in 15 Guardian Singapore stores, its website and app in June, as the British health and wellness brand returns to the Republic through a partnership with DFI Retail Group. H&B previously pulled out of Singapore in March 2025.
$Stoneweg Europe Stapled Trust(SET.SI)$ (Sert): Its manager on Thursday said that it entered into a binding agreement for the divestment of Parc de Meslay in France for 5.7 million euros (S$8.5 million). The divestment will be done through Parc Logistique, an indirect and wholly owned subsidiary of Stoneweg European Real Estate Investment Trust. The sale completion is targeted for October.
Samudera Shipping: Its wholly owned subsidiary Samudera Tankers has entered agreements to dispose two vessels as part of the group’s ongoing fleet management and capital allocation strategy. With an aggregate cash consideration of US$23 million, the disposals are expected to yield an estimated gain on disposal of around US$1.3 million. Net proceeds will go towards general working capital or may be redeployed for fleet renewal and other investment opportunities, said the group on Wednesday.
SG Local News
Record Singapore-US Rate Gap May Widen Further on Inflows, Fed
The two-year Singapore dollar swap was at a discount of 246 basis points to its US counterpart this week, the deepest based on data going back to 2020.
The momentum looks poised to intensify as a strong Singapore economy fuels expectations for currency appreciation, which may further accelerate the Iran war-induced safe-haven capital inflows. In contrast, the Federal Reserve may come under pressure to raise interest rates due to elevated energy prices.
“We see this as a function of capital inflows and ample liquidity on the SGD side,” said Galvin Chia, an emerging Asia strategist at Societe Generale. “Inflows to Singapore have kept liquidity conditions flush, translating into more resilient SGD rates despite rising global yields.”
Singapore Could Face 12.5% US Tariff After Forced Labour Trade Probe
Singapore could face a new 12.5 per cent tariff on exports to the US, after an American trade agency found that the Republic had not adopted and effectively enforced a ban on goods produced with forced labour.
The proposed levy will not be immediately effective as it is subject to comments and hearings starting in July.
The Office of the United States Trade Representative (USTR), an agency within the executive office of US President Donald Trump, said its investigations against 60 economies – initiated on Mar 12 – found that six of them have failed to effectively enforce a ban on the import of goods produced with forced labour.