SG Morning Call｜Singapore Stocks Opened Lower; DFIRG Up 5%; SIA, CapitaLand Ascott, Singtel And Wilmar Down 1%
Market Snapshot
Singapore stocks opened lower on Friday. STI down 0.1%; DFIRG up 5%; SIA, CapitaLand Ascott, Singtel and Wilmar down 1%.
Stocks in Focus
CapitaLand Ascott Trust (Clas), Sheng Siong Group : The hospitality player and supermarket chain operator, respectively, will join the Straits Times Index’s (STI) reserve list, after the December quarterly review. These two counters will replace Olam Group and Yangzijiang Financial on the list, said the Singapore Exchange on Thursday. No changes to STI constituents will be made after this review. Stapled securities of Clas closed flat at S$0.94 on Thursday, while shares of Sheng Siong closed at S$2.62, down S$0.02 or 0.8 per cent.
Sunpower Group : The company said on Thursday that it will acquire stakes in two Chinese power projects. Its wholly owned subsidiary, Sunpower International Holding (Singapore), will buy a 15 per cent interest in Jining Xinneng Thermal Power for about 30.2 million yuan (S$5.5 million). Another subsidiary, Jiangsu Sunpower Clean Energy, which owns a 90 per cent stake in Changshu Suyuan Thermal Power, agreed to buy the remaining 10 per cent from Jiangsu Geqiu Environmental Technology for 16.8 million yuan. The counter closed at S$0.525 on Thursday, down S$0.005 or 0.9 per cent.
Wee Hur : The developer announced on Thursday a seven-party joint venture to develop its land parcel in Upper Thomson Road. WH Property, a wholly owned subsidiary, will take a controlling 50 per cent stake. The joint venture is alongside partners that include an associate of its controlling shareholders. Shares of Wee Hur closed S$0.005 or 0.7 per cent lower at S$0.71, before the announcement.
Nordic Group : The precision engineering and systems integration solutions provider on Thursday announced that it clinched several contracts with a total value of around S$70.3 million. The contracts are with new and repeat customers across the marine, offshore oil and gas, petrochemical, semiconductor, infrastructure and security sectors. Shares of Nordic closed at S$0.415, S$0.01 or 2.5 per cent higher, after the announcement.
SG Local News
Wealth of Singapore billionaires third highest in Apac at US$258.8 billion: report
The wealth of billionaires that reside in Singapore rose 66.4 per cent to US$258.8 billion in 2025, making it the third-largest market in terms of wealth in the Asia-Pacific region, behind China and India, according to a UBS report.
Singapore has 55 billionaires, with six new additions in 2025, according to UBS’ Billionaire Ambitions Report published on Thursday (Dec 4).
SingLand unit to acquire Marina Square land parcel for $99.1m
Singapore Land Group Limited (SingLand) has announced that its indirect subsidiary, Marina Residential Development Pte. Ltd., has signed four sale and purchase agreements to acquire a land parcel at Marina Square for a total consideration of $99.1m.
The agreements were inked with Marina Centre Holdings Private Limited (MCHPL), Hotel Marina City Private Limited, Aquamarina Hotel Private Limited, and Marina Bay Hotel Private Limited. The site, located at 6 Raffles Boulevard, spans approximately 3,992 square metres.
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