To The Moon

Market Snapshot

Singapore stocks opened lower on Wednesday. STI fell 0.2%; ST Engineering rose 0.9%; NIO fell 1.2%; OCBC fell 0.6%; Yangzijiang Shipbuilding and Keppel fell 0.5%; UOB and DBS fell 0.2%.

Stocks in Focus

$Keppel Real Estate Investment Trust(K71U.SI)$ (Reit): The trust on Tuesday said that it has received valid acceptances of 76.9 per cent at the close of its preferential offering announced on Dec 11, 2025. It received valid acceptances for 709.4 million units, out of the 923.2 million units on offer. It received excess applications of 185.7 million units, or 20.1 per cent of the total number of units available under the preferential offering. The new units will be listed on the Singapore Exchange from 9 am on Jan 19. Units of Keppel Reit closed flat at S$0.985 on Tuesday.

$Olam Group(VC2.SI)$: The food producer on Wednesday said the proposed sale of its remaining 32.4 per cent stake in Arise P&L, set to be completed by Dec 31, 2025, is still undergoing. The board said it has “made progress” in securing approvals from different lenders to Arise P&L, upon which the sale was contingent. It said it “intends to proceed to complete the proposed disposal as soon as practicable” once all approvals are received. Shares of Olam rose 0.5 per cent to close S$0.005 higher at S$0.94 on Tuesday.

$Frasers and Neave(F99.SI)$ (F&N): The beverage maker on Tuesday priced S$125 million in fixed-rate notes due Jan 20, 2033, at 2.6 per cent per annum. The notes, to be issued by wholly owned subsidiary F&N Treasury, are part of the company’s S$2 billion multicurrency debt issuance programme. They will be issued on Jan 20, 2026, and are guaranteed by F&N. Shares of F&N closed flat at S$1.50 on Tuesday.

$Centurion(OU8.SI)$: The property manager on Tuesday said the development and divestment of Epiisod Macquarie Park under a forward purchase agreement have taken place. The vendor, Lachlan Avenue Development, is 25 per cent owned by Centurion Corporation and 75 per cent owned by Centurion Properties. Wholly owned subsidiary Centurion Australia Management has been appointed to provide property management services. Shares of Centurion rose 0.7 per cent to close S$0.10 higher at S$1.37 on Tuesday.

$Cordlife(P8A.SI)$: The company announced on Wednesday a one-year renewal of its cord blood banking service license from Jan 14, 2026, to Jan 13, 2027. The company also announced that it has applied to convert ongoing client claims to an “originating claim”, with claimants due to respond by Feb 3. Shares of Cordlife fell 2.3 per cent to close S$0.003 lower at S$0.127 on Tuesday.

SG Local News

Singapore Port Achieves Record-High Performance in 2025

The Port of Singapore had a banner year in 2025, achieving all-time highs for annual vessel arrival tonnage, container throughput, marine fuel sales, sales of alternative bunker fuels, and total tonnage of ships under the country’s flag.

Gross tonnage of vessel arrivals rose by 3.5 per cent year on year to around 3.2 billion, while box throughput improved by 8.6 per cent to about 44.7 million 20-foot equivalent units (TEUs), based on Maritime and Port Authority of Singapore (MPA) data. TEU is a measure of cargo capacity.

Tan Hua Joo, an analyst at container shipping intelligence provider Linerlytica, said that all the main South-east Asia hub ports reported record-high volumes in 2025 due to strong Chinese exports outside of the US.

Keppel Reit Preferential Offering Closes with 76.9% Valid Acceptances; Total Applications at 97%

Keppel Real Estate Investment Trust (Reit) has received valid acceptances of 76.9 per cent at the close of its preferential offering announced on Dec 11, 2025.

In a bourse filing on Tuesday (Jan 13), the manager of the Reit said it received valid acceptances for 709.4 million units, out of the 923.2 million units on offer.

It received excess applications of 185.7 million units, or 20.1 per cent of the total number of units available under the preferential offering.

Hyflux Trial: DBS Representative Says Hyflux Did Not Disclose Its Entry into Power Business

A representative for DBS on Tuesday (Jan 13) testified that Hyflux did not disclose to him or his team members that the water treatment firm was entering the power business.

Mr Lum Moe Tchun, now managing director in investment banking at DBS, shared this on the first day of the resumption of the long-running trial against former Hyflux chief executive officer Olivia Lum Ooi Lin, 65, and other Hyflux ex-leaders.

Along with then-chief financial officer Cho Wee Peng and four former independent directors of Hyflux, Olivia Lum is on trial for allegedly omitting details about electricity sales in its Tuaspring project.

Drink Prices Could Rise by up to 60 Cents Under Singapore's New Beverage Return Scheme, Importers Warn

Prices of bottled and canned drinks in Singapore could rise by S$0.25 (US$0.20) to S$0.60 when a new national recycling programme kicks in from April, according to several importers and small retailers who say they will struggle with multiple fees.

The Beverage Container Return Scheme (BCRS) is designed to cut waste and boost recycling rates by introducing a refundable deposit for drink containers.

It is managed by a consortium of major beverage producers, including Coca-Cola, F&N Foods and Pokka, and supervised by the National Environment Agency (NEA).