Market Snapshot
Singapore stocks opened higher on Monday. STI rose 0.13%; CapLand India T up 2.4%; Singtel, YZJ Fin Hldg, CityDev, Kep Infra Tr up around 1%.
Stocks in Focus
Singtel: A KKR-led consortium that includes Singtel is nearing a deal to buy ST Telemedia Global Data Centres (STT GDC), reported the Wall Street Journal on Saturday. Both are existing investors in STT GDC, with Singtel on Sunday saying that there is no certainty that such discussions will lead to a definitive deal. Singapore and Abu Dhabi’s sovereign wealth funds, GIC and Mubadala, are also in talks to join the deal, Bloomberg reported on the same day. Shares of Singtel rose 0.4 per cent to close S$0.02 higher at S$4.59 on Friday, before the announcement.
ST Engineering: The company launched its largest unmanned cargo aircraft to date at the media preview of the Singapore Airshow on Sunday, along with other products from its defence and urban solutions divisions. The new DrN-600 has been designed to boost the commercial usage of cargo drones as the company broadens its Unmanned Aircraft System development. Co-developed with US-based electric-aircraft maker Air Inc, the DrN-600 will begin test flights later in the second quarter of 2026, with commercial operations planned to start in 2028. Shares of ST Engineering rose 1.6 per cent to close S$0.15 higher at S$9.80 on Friday.
SGX: The Singapore Exchange (SGX) is launching three new Singapore Depository Receipt (SDR) counters for trading from Monday. The three Hong Kong-listed companies are Zijin Gold, China’s largest gold producer, Horizon Robotics and China Mobile. Shares of SGX fell 0.2 per cent to close S$0.03 lower at S$17.63 on Friday.
CapitaLand Investment (CLI): The company will provide real estate advisory services for The Clementi Mall and hold a minority interest in the asset, whose sale to Elegant Group was completed on Friday. When asked about the size of its stake, CLI declined to disclose details, citing confidentiality. It added that the transaction is not expected to have a material impact on its financials. Shares of CLI closed flat at S$3.08 on Friday.
Sembcorp Industries: Shareholders of Sembcorp met on Friday to decide on a planned A$6.5 billion (S$5.6 billion) takeover of Australian utility Alinta Energy. The deal will set Sembcorp back on its climate targets, owing to the Loy Yang B coal-fired power generator that Alinta contracts to supply about 20 per cent of the electricity used by the Australian state of Victoria. Shares of Sembcorp fell 1.6 per cent to close S$0.10 lower at S$6.03 on Friday.
City Developments Limited (CDL): The developer of the freehold condominium Newport Residences said on Sunday that 140 of its 246 units, about 57 per cent, were sold as at 5 pm. Excluding the development’s super penthouse, the project was priced at an average of S$3,370 per square foot. PropNex’s chief executive, Kelvin Fong, said that the launch was the “best-performing District 2 new launch in recent memory”. Shares of CDL fell 0.6 per cent to close S$0.06 lower at S$9.28 on Friday.
CapitaLand India Trust (Clint): The trustee-manager on Monday announced a distribution per unit (DPU) of S$0.039 for its second half ended Dec 31, 2025, 22 per cent up from a DPU of S$0.032 in the year-ago period. For the half-year, the trust’s income to be distributed stood at S$53.3 million, 25 per cent up from S$42.6 million in H2 FY2024. Units of the trust closed Friday flat at S$1.24, before the news.
MoneyMax Financial Services: The pawnbroker and gold retailer said on Monday that it expects a “significant improvement” in its second-half and full-year net profit. This is mainly due to stronger financial performance of the group’s pawnbroking segment from higher interest income, as well as higher gold prices and increased sales volume from the group’s retail and trading of gold and luxury items segment. Shares of MoneyMax fell 9.6 per cent to close S$0.075 lower at S$0.705 on Friday.
SG Local News
CDC Vouchers No More? Economists See Smaller, Targeted Relief for Budget 2026
The generous Community Development Council (CDC) voucher scheme that has become a household fixture since the days of the Covid-19 pandemic could be scaled back in Budget 2026, with economists expecting smaller payouts and tighter income criteria.
With core inflation cooling to 0.7 per cent in 2025, from its peak of 6.1 per cent in 2022, economists said the conditions that justified broad-based handouts have largely passed, even as cost-of-living concerns remain an issue for many.
GIC, Mubadala said to be set to join KKR in US$10 billion STT Deal
GIC and Mubadala Investment are in talks to join KKR and Singtel in their potential purchase of data centre operator STT GDC, sources familiar with the matter said, in what could be one of the biggest digital infrastructure deals in recent months.
The sovereign wealth funds from Singapore and Abu Dhabi are set to back the KKR-led transaction as minority co-investors, the sources said, asking not to be identified because the deliberations are private. A potential deal may value STT GDC at more than US$10 billion, including debt, the sources said.
