To The Moon

Market Snapshot

Singapore stocks opened higher on Tuesday. STI rose 0.1%; YZJ Maritime rose 3%; ST Engineering rose 2%; IFast rose 0.6%; OCBC rose 0.3%.

Stocks in Focus

$ST Engineering(S63.SI)$: The technology and defence conglomerate said on Monday that it secured S$4.8 billion in new contracts in the first quarter of 2026. Half of the new orders, or S$2.4 billion, came from its defence and public-security segment. The commercial aerospace division brought in S$1.7 billion and the urban solutions and satellite-communications segment brought in S$700 million. The first-quarter haul was up about S$400 million from the year-ago period. ST Engineering shares fell 2.5 per cent or S$0.27 to close at S$10.75 prior to the announcement.

$CapitaLand Ascendas Reit(A17U.SI)$ (Clar): The real estate investment trust’s (Reit) manager on Monday said Clar expanded its global footprint in Q1 with about S$1.6 billion in distribution-accretive acquisitions. It said the Reit had strong operational resilience, maintaining a high overall portfolio occupancy rate of 90.5 per cent and a weighted average lease expiry of 3.8 years, alongside a robust positive rental reversion of 10.6 per cent. Units of Clar fell 0.4 per cent or S$0.01 to close at S$2.54 on Monday.

$Mapletree Pan Asia Commercial Trust(N2IU.SI)$ (MPACT): The manager on Tuesday posted a 2.6 per cent fall in distribution per unit to S$0.019 for the fourth quarter ended March 2026, from S$0.0195 in the same year-ago period. Revenue for the period was down 5.5 per cent at S$210.7 million from S$222.9 million the year prior, on account of lower overseas contributions. Units of MPACT closed flat at S$1.40 on Monday.

$Yangzijiang Maritime(8YZ.SI)$: The maritime financial solutions provider on Monday announced that it placed newbuilding orders with Chinese shipyards for a total of 10 vessels. Following the delivery of these vessels between 2027 and 2029, the group’s total fleet will increase to 105 vessels – of which 53 are under construction. These newbuilds will be funded through a combination of equity co-investment and debt financing. Shares of Yangzijiang Maritime fell 2.2 per cent to close S$0.015 lower at S$0.66 before the announcement.

$Stoneweg Europe Stapled Trust(SET.SI)$ (Sert): The stapled group on Tuesday posted a distribution per stapled security of 0.03423 euro (S$0.05133) for Q1, 1.5 per cent higher than the previous corresponding period. This came as distributable income for the quarter grew 0.4 per cent to 19 million euros and net property income rose 1.3 per cent to 33.1 million euros. Stapled securities of Sert ended Monday 0.7 per cent or 0.01 euro higher at 1.55 euros.

$Addvalue Technologies(A31.SI)$: It clinched some US$2.9 million worth of new orders for its space connectivity business. The latest wins bring its order book to US$24.9 million as at Tuesday. The orders are expected to be “substantially fulfilled” in the next 12 months and will have a positive material impact for the next financial year. The counter closed on Monday 36.4 per cent or S$0.043 higher at S$0.161.

$GSH Corporation(BDX.SI)$: Gilbert Ee, 61, will retire from his positions as CEO and executive director of the property developer, effective from Oct 26. Executive director Lim Hong Kian, 52, will also relinquish his role, effective May 26. These changes are part of a “planned and orderly leadership renewal process”, said GSH, with no expected disruption to business activities. GSH shares fell 4.8 per cent and closed S$0.01 lower at S$0.20 on Monday before the announcement.

SG Local News

Singapore’s Manufacturing Output Beats Forecasts in March, but Chemicals Decline Signals Emerging Iran War Risk

Singapore’s manufacturing output surged 10.1 per cent year on year in March 2026, beating forecasts and accelerating from 3.3 per cent growth the month prior, data from the Singapore Economic Development Board (EDB) showed on Monday (Apr 27).

Private-sector economists polled by Bloomberg had forecast growth of 6 per cent.

On a seasonally adjusted month-on-month basis, factory output climbed 4.7 per cent, also exceeding the consensus forecast of 2.7 per cent and reversing from the 1.2 per cent decline in February.

DBS Drives S$20 Billion in Apac Data Centre Deals as AI Boom Tests Bank Funding Limits

DBS arranged more than S$20 billion in data centre financing across the Asia-Pacific in 2025, as an unprecedented surge in demand for artificial intelligence infrastructure – from data centres to semiconductors – begins to test the limits of traditional bank funding capacity.

Amit Sinha, global head of telecommunications, media and technology at DBS, estimates that the total capital expenditure of key data centre hyperscalers – such as Google and Microsoft – and their suppliers could reach US$1 trillion in 2026.

The worldwide AI boom has driven up these players’ capex by 70 to 80 per cent year on year, he noted.

Association of Banks in Singapore Monitoring Potential Threats from Frontier AI Models

Banks in Singapore are working with the city-state's industry body to monitor emerging threats ​posed by frontier artificial intelligence models, the ‌director of the Association of Banks in Singapore said on Monday.

Local banks have ​also enhanced monitoring and incident response capabilities to enable faster detection, containment and remediation of threats, the statement said.

This comes ​as financial institutions across the globe scramble to ​assess the cybersecurity risks brought about by Anthropic's frontier AI model ‌Mythos.