To The Moon

Market Snapshot

Singapore stocks opened higher on Wednesday. STI rose 0.57%; Seatrium up over 2%; OUEREIT, OCBC Bank, Genting Sing up over 1%; DBS, Keppel Reit up nearly 1%; NIO down over 5%; ThaiBev down over 2%.

Stocks in Focus

$Singtel(Z74.SI)$: A unit of the telco’s wholly owned subsidiary Optus has priced S$200 million in 10-year fixed-rate notes due in 2035 at 2.48 per cent. The notes will be drawn down under Optus Finance’s three billion euro (S$4.5 billion) euro medium-term note programme, said Singtel on Tuesday. Net proceeds from the issuance will be “swapped into Australian dollars and applied by Optus towards funding its ordinary course of business”. Shares of Singtel fell 0.4 per cent or S$0.02 to close at S$4.77, before the news.

$Nio(NIO.SI)$: The China electric-vehicle maker on Tuesday posted a net loss of 3.5 billion yuan (S$638 million) for its third quarter ended Jun 30, 2025, narrowing from a 5.1 billion yuan loss in the same year-ago period. Its revenue was at 21.8 billion yuan, a 16.7 per cent rise from 18.7 billion yuan in Q3 2024. The group expects its Q4 revenue to range between 32.8 billion yuan and 34 billion yuan, an increase of between 66.3 and 72.8 per cent from the same quarter of 2024. Shares of Nio closed 2.1 per cent or US$0.12 up at US$5.95, before the release of results.

$ThaiBev(Y92.SI)$: Thai Beverage on Tuesday posted a 6.8 per cent drop in net profit to 25.4 billion baht (S$1 billion) for the full year ended Sep 30, 2025, from 27.2 billion a year earlier. The company attributed the decline to increased investments in brand-building and new product launches, and increased operating expenses from restaurant expansion. Revenue fell 2.1 per cent to 333.3 billion baht. Shares of ThaiBev closed flat at S$0.47, before the news.

$Seatrium(5E2.SI)$: The marine engineering company on Wednesday announced that it has been awarded a contract from BP Exploration and Production for the engineering, procurement, construction and onshore commissioning of the Tiber floating production unit in the Gulf of America (previously known as the Gulf of Mexico). This latest contract win brings Seatrium’s new contracts won for FY2025 to more than S$2 billion. Shares of Seatrium closed 0.5 per cent or S$0.01 lower on Tuesday at S$2.06.

$ComfortDelGro(C52.SI)$: The transport company on Tuesday announced that its subsidiary, ComfortDelGro (China), signed a memorandum of understanding with Shanghai-headquartered Hello Robotaxi, to collaborate on large-scale commercial robotaxi deployment in China and overseas markets. This partnership will focus on deploying and managing Robotaxi services via the group’s point-to-point operations, utilising its fleet management experience and physical assets. Shares of ComfortDelGro ended unchanged at S$1.44, before the news.

$Coliwoo(W8W.SI)$: The co-living operator reported a 75.1 per cent drop in net profit to S$5.7 million for the second half ended Sep 30. Earnings per share fell to S$0.0183, from S$0.0733 for the corresponding period the year before. For the full year, net profit stood at S$15 million, a 51.4 per cent decline from S$31 million for FY2024. Shares of Coliwoo closed 0.9 per cent or S$0.005 down at S$0.56 on Tuesday, before the announcement.

$NoonTalk Media(SEJ.SI)$: The board of the entertainment company said that salaries for management are “fair and justifiable”, as per the group’s Oct 31 annual general meeting (AGM) minutes released on Tuesday. This is despite the company incurring three consecutive years of losses since its listing in November 2022. An approval of directors’ fees of up to S$120,000 for the financial year ended Jun 30, 2025, was among resolutions approved during the AGM. The counter closed 38.2 per cent or S$0.021 higher at S$0.076, prior to the announcement.

SG Local News

Singapore, Malaysia Renew Commitment to Implement JS-SEZ Frameworks

Singapore and Malaysia on Tuesday (Nov 25) reaffirmed their commitment to advancing efforts related to the Johor–Singapore Special Economic Zone (JS-SEZ) at the 17th Malaysia-Singapore Joint Ministerial Committee for Iskandar Malaysia (JMCIM) meeting in Kuala Lumpur, Malaysia.

Both sides agreed to “refresh and repurpose” the JMCIM into the Johor–Singapore Cooperation Ministerial Committee (JSCMC). This will serve as an “enhanced ministerial platform” to provide strategic direction, strengthen bilateral coordination and oversee the implementation of priority initiatives under the JS-SEZ.

US Leadership Still ‘Vital’, but Its Absence Should Not Stop Others from Moving Forward: PM Wong

While US leadership remains vital to forming a global framework, its absence should not prevent the rest of the world from making progress, said Prime Minister Lawrence Wong at the end of a trip that included the Group of 20 (G20) summit – which the US did not attend.

The world is becoming multipolar, but the US remains the biggest power, he noted. “So the preference from Singapore’s point of view, of course, is for America to be actively engaged in all of these discussions, in shaping the way forward.”

Alibaba Cloud Collaborates With AI Singapore to Launch Lightweight LLM Tailored for Southeast Asia

AI Singapore has launched a new large language model (LLM), Qwen-SEA-LION-v4, with support from Alibaba Cloud, to better support the linguistic, cultural and commercial needs of Southeast Asia. The model is designed to run even on a consumer laptop with 32GB of RAM, while delivering stronger multilingual accuracy and cultural contextual understanding.

The foundation model, Alibaba’s Qwen3-32B, was trained on over 100 billion words and phrases from Southeast Asian languages, sourced from a dataset covering 119 languages and dialects. This enables the system to better interpret local expressions, conversational nuances, and cultural references often overlooked by global AI models.

Additionally, the Qwen team incorporated more translation and cross-lingual training tasks during post-training, improving the model’s ability to handle regional multilingual scenarios such as code-switching, informal conversations, and mixed English-local language usage.