SG Morning Call｜STI Opened 0.5% Higher; Capital World Up 100%; Mapletree Log Up 3%; Koh Eco Down 9%; Koh Brothers Down 8%; Oiltek Down 3%
Market Snapshot
Singapore stocks opened higher on Tuesday. STI up 0.5%; Capital World up 100%; Mapletree Log up 3%; YZJ Shipbldg and YZJ Fin up 2%; SGX up 1%; Koh Eco down 9%; Koh Brothers down 8%; Oiltek down 3%.
Stocks in Focus
Oiltek International, Koh Brothers Eco Engineering (KBE), Koh Brothers : Property player Koh Brothers rejected a new shareholder attempt to force the company to distribute its stake in Oiltek on the basis that it is not in the group’s best interest. Koh Brothers said on Monday that its board will not put the shareholders’ proposed resolution – to get its 54.8 per cent-owned unit KBE to distribute its Oiltek shares – to a vote at its upcoming annual general meeting. Oiltek shares closed 3.5 per cent up at S$2.08 on Monday, KBE shares ended 14.8 per cent up at S$0.132 and Koh Brothers shares ended Monday 5.7 per cent up at S$0.37.
Acrophyte Hospitality Trust: Auditors of the trust raised doubts on Monday about whether the Singapore-listed hospitality group can refinance a US$198.5 million loan that falls due in September, flagging a material uncertainty over its ability to continue operating. Stapled securities of Acrophyte Hospitality Trust last traded flat at US$0.255 on Monday before the announcement. Capital World : Capital World has begun renovation and fit-out works for Mustafa Centre’s first outlet in Johor Bahru, the firm announced on Monday. The project, located at Capital City Mall, is scheduled for completion before the first quarter of 2027. This comes after over two years of delays and negotiations. Shares of Capital World ended flat at S$0.001 on Monday.
SG Local News
Singapore tightens monetary policy for first time since 2022, raises inflation forecasts amid Iran war oil shock
The Monetary Authority of Singapore (MAS) tightened monetary policy on Tuesday (Apr 14) and raised its inflation forecasts, as the Middle East conflict and disruption to shipping through the Strait of Hormuz drive up imported energy and commodity costs.
The central bank increased slightly the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band, while keeping its width and centre unchanged. It is the first tightening since October 2022, when MAS wrapped up a cycle of five consecutive moves to combat post-pandemic inflation.
MAS raised its forecasts for core inflation and headline inflation to 1.5 to 2.5 per cent for 2026, from the 1 to 2 per cent range set in January.
Deliveroo exit triggers food delivery duopoly in Singapore
Delivery fees and merchant commissions in Singapore are likely to rise following the exit of Deliveroo Plc, as consolidation leaves restaurants and consumers with fewer platform choices and shifts bargaining power toward the remaining operators.
“The exit highlights key industry trends: razor-thin margins, rising preference for super apps, and the struggle to maintain profitability in highly penetrated markets,” Anuran Dhar, practice head for foodservice at GlobalData Plc, told Retail Asia.
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