To The Moon

Market Snapshot

Singapore stocks opened higher on Friday. STI rose 0.1%; Singtel rose 0.7%; Wilmar rose 0.6%; Keppel rose 0.3%.

Stocks in Focus

$Apac Realty(CLN.SI)$: Apac Realty announced on Friday that the lawsuit previously filed against its wholly owned subsidiary, property agency ERA Realty Network, has been discontinued and withdrawn. It was one of three defendants, which the claimants had been seeking a total of S$731,212 in damages from. Shares of Apac Realty ended at S$0.55, S$0.015 or 2.7 per cent lower on Thursday.

$Lum Chang Creations(LCC.SI)$: The company is planning to launch a placement of up to 35 million shares at S$0.759 each to raise gross proceeds of up to about S$26.6 million, the firm announced on Thursday. The move is aimed at increasing the firm’s public float as it prepares to transfer its listing from the Catalist board to the mainboard of the Singapore Exchange. Shares of Lum Chang Creations ended flat at S$0.83, before it requested for a trading halt on Thursday. It was lifted on Friday after the announcement.

SG Local News

Switzerland Loses Top Spot in Competitiveness Ranking to Singapore

Switzerland lost its position as the world’s most competitive economy to Singapore, slipping to third place in the ranking as high US trade tariffs and a strong Swiss franc hurt investment flows.

While Switzerland remained the highest-ranked European nation, it was also leapfrogged by Hong Kong in the 2026 IMD World Competitiveness Ranking published on Thursday. Business efficiency was key to Singapore rebounding to first place, a position it last held in 2024.

The IMD said Switzerland’s decline underscores how even the world’s strongest economies remain vulnerable to shifting capital flows and heightened geopolitical uncertainty. The setback comes as Switzerland faces intensifying competition, with Hong Kong recently overtaking the country as the world’s largest cross-border wealth hub, according Boston Consulting Group.

Singapore Adds Crypto Firm Bybit To Its Investor Alert List

The Monetary Authority of Singapore added Bybit Fintech Ltd. to its investor alert list on Wednesday, as the city-state steps up scrutiny of unlicensed cryptocurrency exchanges.

Bybit — a global cryptocurrency exchange — has never been licensed to operate in the city. The MAS said the list includes entities that may have been incorrectly perceived as being licensed or authorized by the central bank. Inclusion on the list doesn’t imply wrongdoing, but gives added emphasis that these firms cannot legally provide financial services to Singaporeans.

DBS Sees 46% Upside for Jardine Matheson; Analysts Expect It to Surpass “Conservative“ Targets

Analysts are generally upbeat about Jardine Matheson Holdings (JMH) following its inaugural Investor Day on Tuesday (Jun 16).

The Hong Kong-based group announced various targets then, including dividend growth of at least 5 per cent annually to 2030 and a US$500 million share buyback programme running to end-2027.

Analysts see the new long-term targets as conservative but “achievable minimum yardsticks” that reinforce the conglomerate’s strategic transformation story.

They are maintaining their positive share-price outlooks, with Macquarie Equity Research looking at upside potential of 32.2 per cent from JMH’s closing price on Tuesday of US$63.55. DBS Group Research predicted 46.3 per cent gains in a note on Wednesday.