Market Snapshot
Singapore stocks opened higher on Wednesday. STI rose 0.15%; Frencken, Food Empire up over 2%; UMS, Venture, Boustead up around 1%; Kep Infra Tr, StarHub down around 1%.
Stocks in Focus
Singtel: The telco on Tuesday said its wholly owned Australian subsidiary Optus has priced S$200 million 10-year fixed-rate notes at 2.84 per cent. The notes will be issued on Jun 30, 2026, and mature on Jun 30, 2036. The net proceeds will be swopped into Australian dollars and used by Optus to fund its ordinary course of business, it added. Singtel shares closed at S$4.35 on Tuesday, down 0.2 per cent or S$0.01, before the news.
$Singapore Airlines(C6L.SI)$ (SIA): The flag carrier on Tuesday said it is issuing 1.5 billion yuan (S$286.4 million) worth of 2.38 per cent five-year fixed-rate dim sum bonds – an offshore yuan bond issued outside mainland China – at par under its S$10 billion multicurrency medium-term note programme. The notes are expected to be issued on Jun 30, 2026, and mature on Jun 30, 2031. SIA shares closed at S$7.37 on Tuesday, up 0.6 per cent or S$0.04, prior to the announcement.
$Mapletree Pan Asia Commercial Trust(N2IU.SI)$ (MPACT): The trust’s subsidiaries have obtained a S$150 million loan, its manager said on Tuesday. The purpose of the multicurrency facility was not disclosed. If a prepayment were to occur, the total exposure under the facility – assuming it is fully drawn – and MPACT’s existing borrowings which could be affected is about S$5.9 billion, excluding interest. Units of MPACT closed 2.4 per cent or S$0.03 higher on Tuesday at S$1.29, before the news.
StarHub: The telco on Wednesday announced that Matthew Williams will succeed Nikhil Eapen as CEO, effective Jan 1, 2027. Williams, the company’s current deputy CEO, will first assume the role of CEO-designate with immediate effect. Shares of StarHub ended flat at S$1.05 on Tuesday.
Ho Bee Land: The real estate developer on Tuesday said it is issuing S$150 million worth of 3.3 per cent 10-year fixed-rate green notes under its S$800 million multicurrency medium-term note programme. The notes are expected to be issued on Jun 30, 2026, and mature on Jun 30, 2031. Shares of Ho Bee Land closed at S$2.07 on Tuesday, up 1 per cent or S$0.02, prior to the announcement.
PropNex: The property agency on Tuesday announced the appointment of Rajah & Tann partner Danny Lim as its new independent non-executive director, effective Jul 1. He was also appointed as a member of the audit and nominating committee, and chairman of the remuneration committee. The counter ended 1.1 per cent or S$0.02 lower on Tuesday at S$1.86, prior to the announcement.
SG Local News
Singapore’s Core Inflation Steady at 1.4% Despite Oil Crunch
Singapore’s core inflation rate was unchanged last month, even as the Middle East conflict had pushed up global prices of energy and fertilizer.
Core inflation, which excludes housing and private transportation costs, rose 1.4% in May from a year earlier, according to a statement by the Department of Statistics Singapore on Tuesday. That’s the same pace as April, and slower than the median estimate in a Bloomberg News survey of 1.6%.
The all-items inflation rate came in at 1.8% last month, compared to the 2% forecast. While transport and food inflation accelerated to 7.4% and 1.8%, respectively, housing and utilities remained steady at 0.2%.
Singapore Dollar Set to Gain Despite Hawkish Fed, Analysts Say
The Singapore dollar is poised to strengthen against the US dollar in the second half of the year despite a hawkish Federal Reserve boosting sentiment toward the greenback, according to strategists.
The Southeast Asian currency weakened last week against the dollar after the greenback got a boost from traders pricing in a quarter-point Fed rate hike by October. However, the median forecast in a Bloomberg survey is for the Singapore dollar to end the year at 1.26 against the dollar. That points to a gain of about 2.4% after the pair ended last week at S$1.2912.
