SG Morning Call | STI Opens 0.22% Lower; UMS Gains Over 3%, AEM SGD Rises 1.6%, and Kep Infra Tr Edges Up Nearly 1%
Market Snapshot
Singapore stocks opened slightly lower on Wednesday, with the STI down 0.22%.
UMS gained over 3% at the open, AEM SGD rose 1.6%, and Kep Infra Tr edged up nearly 1%. On the flip side, JMH USD dropped over 2%, while OCBC Bank and UOL slipped 0.6% and 0.5%, respectively.
Stocks in Focus
The following companies saw new developments that may affect trading of their securities on Wednesday (Jul 22):
AEM Holdings : Semiconductor firm Advantest has filed a first amended complaint against AEM Holdings, extending a patent infringement dispute that started in October 2025. AEM said on Tuesday that it “has its own extensive patent portfolio and respects the intellectual property of others,” and denied the allegations. AEM shares ended Monday 4.9 per cent or S$0.43 up at S$9.28 before the news. Its shares in US dollars closed flat at US$4.10.
HPH Trust : The manager of the trust on Tuesday posted an 85 per cent surge in net profit to HK$490.5 million (US$62.6 million) for its first half ended Jun 30, from HK$265.1 million in the previous corresponding period. Distribution per unit stood at HK$0.05 per unit for the half-year, unchanged from a year before. The counter ended Tuesday 1.6 per cent or US$0.003 lower at US$0.189, before the announcement.
SG Local News
Singapore bets on AI in healthcare, but success will depend on commercial sustainability
Artificial intelligence innovations are attracting growing interest from private healthcare players and investors, but translating them into commercially viable applications within the sector can be more difficult.
A deep talent pool and strong government support within the ecosystem has seen Singapore’s medtech and biotech sectors grow considerably in recent years, with an increasing number of startups finding success developing AI tools for clinical use.
For example, an AI-powered wound care scanner by local startup KroniKare has found its way into hospitals around the island, reducing wound assessment time by up to 70 per cent.
Kingsford Group inks deal to buy Tan Boon Liat Building at lower reserve price of S$950m
Freehold Tan Boon Liat Building has been sold en bloc to a unit of Kingsford Group for S$950 million, subject to the fulfilment of certain conditions and owners’ approval.
This likely represents the largest collective sale transaction in Singapore so far this year, said exclusive adviser and marketing agent for the property Cushman & Wakefield on Tuesday (Jul 21).
The 15-storey building was first launched for collective sale in February 2025 with a reserve price of S$1.15 billion. While the tender attracted expressions of interest, it closed without securing a buyer. The property was subsequently relaunched in February 2026 at a lower reserve price of S$1 billion – about 13 per cent below the initial asking price.
The transaction value of S$950 million is 5 per cent below the site’s revised reserve price of S$1 billion and around 17.4 per cent lower than its original reserve price of S$1.15 billion.
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