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| 29-May-2026 10:39 |
Trendlines
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Time to buy !
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Trendlines portfolio company Phytolon closes US$23.6 mil Series B financing The Trendlines Group (Trendlines) (SGX:42T) announced that its portfolio company, Phytolon, has closed its US$23.6 million Series B financing to commercialise its natural food colours in the United States. Trendlines says that the Series B financing round for Phytolon was led by a strategic investor, whose identity has not yet been disclosed. &ldquo This funding was structured in three stages, including the realization of SAFE investment vehicles made prior to this closing, with the bulk of the capital being secured during the final stage earlier this month. In addition to the lead investor, existing investors also participated in the round,&rdquo Trendlines add. From Trendlines&rsquo point of view, the entry of a strategic lead investor at the commercialisation stage is a positive development for Phytolon. &ldquo We believe this financing significantly strengthens Phytolon&rsquo s growth trajectory and long-term value creation potential. Trendlines and Consensus Business Group remain committed long-term shareholders of Phytolon,&rdquo says Trendlines&rsquo executive director and CEO, Haim Brosh. Shares of Trendlines closed 0.3 cents higher, or 5.26% up at 6 cents on May 28. |
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| 29-May-2026 10:38 |
OKP
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OKP [5CF.si]
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OKP wins S$165.3 million LTA contract for commuter infrastructure works It will design and construct elevator shafts at 30 pedestrian overhead bridges [SINGAPORE] Infrastructure and civil engineering company OKP : 5CF +2.45% has secured a S$165.3 million contract from the Land Transport Authority for commuter infrastructure works in Singapore. Under the 48-month contract, which commenced on May 25, OKP&rsquo s wholly owned subsidiary Or Kim Peow Contractors will design and construct elevator shafts at 30 pedestrian overhead bridges in Singapore. The group&rsquo s order book stood at S$760.7 million as at Thursday (May 28), with projects until 2031. Or Toh Wat, group managing director of OKP, said the latest contract win contributes to &ldquo creating a more inclusive and accessible transport environment for commuters&rdquo . The works include associated commuter infrastructure works related to lift lobbies and link bridges, alongside other accessibility enhancements that improve connectivity. As part of the project scope, Or Kim Peow Contractors will also carry out enhancement works at pedestrian overhead bridges, as well as addition and alteration works for existing elevator shafts. It will also build a new covered pedestrian overhead bridge with lift access and linkways across the Tampines Expressway. Shares of OKP closed Thursday 2.5 per cent or S$0.02 higher at S$0.835, before the news. |
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| 29-May-2026 10:37 |
Mooreast
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Mooreast
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Mooreast aims to raise $6 mil by issuing new shares at 13.5 cents each Mooreast Holdings is the latest to join a growing line of listcos doing secondary fund raisings. The company has appointed Zico Capital to raise and Maybank Securities to help raise up to $6 million by selling 44.45 million new shares at 13.5 cents each. These new shares will enlarge Mooreast' s share base by 14.65% and the placement price is a discount of 2.03% off the last traded price on May 22. Mooreast, which expects net proceeds of some $5.83 million, says the funds raised will help it take on additional projects. |
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| 29-May-2026 10:36 |
Beng Kuang
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Beng Kuang Marine
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Beng Kuang Marine Completes Acquisition of Asian Sealand Offshore and Marine Pte. Ltd. (&ldquo ASOM&rdquo )
See link for full release: https://www.bkmgroup.com.sg/view& id=1375 |
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| 27-May-2026 13:48 |
UIBREIT
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UI Bousted Reit - UIBU
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Lai of DBS maintains ' buy' and $1.05 target price on UI Boustead REIT following $104 mil aerospace park development From the perspective of Lai, this transaction strengthens UIB REIT' s portfolio resilience and income visibility, with portfolio WALE expected to improve from 5.8 years to 6.4 years, while Singapore exposure rises to 72% of assets under management. Furthermore, the structure of this deal is such that the REIT, which was listed only in March, can choose to fully own this asset over time, thereby providing an additional medium-term acquisition pipeline, says Lai. " Strategically, the acquisition deepens UIB REIT&rsquo s exposure towards specialised aerospace and high-spec industrial assets with higher barriers to entry, while showcasing the sponsor&rsquo s ability to originate proprietary development opportunities," says Lai. Post transaction, UIB REIT' s aggregate gearing is expected to rise to 39.7% post-transaction, still deemed by the analyst as " manageable" . DPU accretion, meanwhile, is estimated at 2.5%-2.9%, assuming a debt funded strategy. " We view the transaction positively as it demonstrates UIB REIT' s continued ability to originate proprietary build-to-suit opportunities alongside supportive sponsors, allowing the REIT to capture positive spreads from development of around 8.6% vs 7.4% portfolio yield for Singapore - securing long-term income streams," says Lai. |
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| 27-May-2026 13:47 |
SATS
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Sats
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Shares of Sats up over 5% after posting rise in Q4 earnings Net profit for its quarter ended Mar 31 grows 31% to S$50.7 million [SINGAPORE] Shares of Sats : S58 +5.04%on Tuesday (May 26) morning were trading more than 5 per cent higher, after the company posted a 31 per cent year-on-year rise in net profit to S$50.7 million for the fourth quarter ended Mar 31. The counter opened just over 2 per cent higher at S$3.47, before hitting S$3.55 at 9.16 am, up 5.3 per cent. It later eased to S$3.51, still trading S$0.14 or 4.2 per cent higher, after 7.1 million securities changed hands at 9.32 am. Sats was the largest gainer on the Straits Times Index in the morning. The company said that conflict in the Middle East, which escalated in the final month of Q4, &ldquo weighed on revenue, costs, operating profit and associates and joint ventures&rsquo earnings&rdquo , reported The Business Times previously. That said, revenue for the period still came in at S$1.6 billion, up 9.8 per cent year on year from S$1.5 billion. Its final dividend proposed stands at S$0.05 a share, an increase from S$0.035 a year before. |
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| 27-May-2026 13:46 |
SATS
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Sats
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Sats may reward shareholders with special dividend if there&rsquo s spare cash The company is on course to achieve FY2029 targets of S$8 billion in revenue and 20 per cent Ebitda margins [SINGAPORE] Air freight handler and inflight caterer Sats : S58 +5.34% may pay out special dividend or buy back shares when it has the spare cash. Kerry Mok, CEO of Sats said if the company has spare cash after ordinary dividend and capital expenditure, it could issue special dividends or conduct share buyback. Mok said this at the Sats&rsquo FY2026 earnings briefing on Tuesday (May 26). Sats pays out 30-40 per cent of its net profit as dividends to balance rewarding shareholders with capturing investment opportunities. Mok said: &ldquo This is important because at the end of the day, we do have a lot of growth opportunities. As I mentioned earlier, investments into AI, investments into new geographies, refreshing our assets... &ldquo (W)hen you are the market leader, the opportunities knock on your door, and we need to be nimble enough to look at those opportunities to grab them when they are there. So we do need to make sure we have a balanced approach around how we actually manage our capital allocation.&rdquo Sats has proposed a final dividend of S$0.05 a share, up from S$0.035 a year earlier. The full-year dividend will be S$0.07 a share &ndash 40 per cent more than in the preceding year &ndash if the interim dividend of S$0.02 is included. Sats reported a net profit of S$50.7 million for its fourth quarter ended Mar 31, up 31 per cent from S$38.7 million for the corresponding period a year earlier. Revenue rose 9.8 per cent year on year to S$1.6 billion, from S$1.5 billion previously. Earnings for the full year stood at S$285.2 million, up 17 per cent. Top line climbed by 9 per cent to about S$6.3 billion. Looking ahead, the CEO said he is confident of achieving the FY2029 targets of S$8 billion in revenue and a 20 per cent margin for earnings before interest, tax, depreciation and amortisation. Sats shares climbed 5 per cent or S$0.17 to S$3.54 at 2.13 pm on Tuesday. |
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| 27-May-2026 13:45 |
IHH
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medical stock that worth look upon
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IHH Healthcare Q1 net profit edges up 3% to RM528 million Foreign currency translation differences set the group back by RM796 million during the quarter [SINGAPORE] Integrated healthcare operator IHH Healthcare : Q0F 0% on Tuesday (May 26) reported a 3 per cent year-on-year rise in net profit to RM528 million (S$170.1 million) for its first quarter ended Mar 31. Revenue came in at RM6.6 billion, up 4 per cent year on year. The group attributed this to &ldquo sustained demand for quality healthcare services, a case mix of more acute patients and price adjustments to counter inflation&rdquo . It added that the consolidation of Bayindir Healthcare, which it acquired in July 2025, also factored in the top-line growth. Earnings per share came in at RM0.0598, up from RM0.0583 in Q1 FY2025. No dividend was declared, unchanged from a year earlier. IHH Healthcare incurred a loss of RM796 million in foreign currency translation differences from foreign operations in Q1, reversing from a gain of RM53 million a year earlier. The sum arose &ldquo mainly from the translation of the net assets of its Singapore, India, Turkey and Europe operations&rdquo , it explained. The group has a presence in 10 countries. The group added that its reported financial position as at Mar 31 was affected by movements in the ringgit it noted that the Malaysian currency had strengthened against the Singapore dollar and Turkish lira during the period. Nonetheless, the &ldquo strength of (its) diversified portfolio mitigated translation impact from a stronger ringgit&rdquo , it said. IHH Healthcare highlighted that, on a constant-currency basis and excluding exceptional items, its Q1 core net profit would have been RM545 million, up 5 per cent year on year. Dr Prem Kumar Nair, the group&rsquo s chief executive officer, said that the group&rsquo s &ldquo steady growth&rdquo during the quarter came &ldquo on the back of strong performances in Malaysia, Turkey and Europe, and India&rdquo . Malaysia was a key growth driver in Q1, as the group &ldquo continued to increase medical tourism share and improve revenue intensity, while expanding its capital-efficient daycare model&rdquo in the country. Turkey and Europe, meanwhile, booked &ldquo strong growth across all key metrics, experiencing strong local and foreign demand despite a full month of Eid impact&rdquo . Tackling headwinds in Singapore Singapore, however, faced headwinds from &ldquo structural shifts towards public healthcare utilisation&rdquo . IHH Healthcare said that it has introduced measures aimed at stabilising its performance in the Republic, with recovery expected in the second half of 2026. These include &ldquo refined patient targeting&rdquo , with Mount Elizabeth Hospital focusing on higher-valueh, high-intensity care, while Gleneagles Hospital and Parkway East Hospital seek to drive patient volumes. The group is also expanding its daycare and ambulatory care offerings to support a broader out-of-hospital care strategy. At the same time, IHH Healthcare is looking to boost patient volumes in Singapore with &ldquo more tie-ups with corporates, more competitive insurer packages, (and efforts to) grow medical tourism beyond traditional catchments&rdquo while maintaining strict cost controls. In June 2025, insurer Great Eastern temporarily suspended pre-authorisation certificates for IHH Healthcare&rsquo s Mount Elizabeth hospitals, citing higher costs compared to other private hospitals. Dr Nair said that a &ldquo continued strategic execution of organisation-wide transformation initiatives&rdquo will support the group&rsquo s target of achieving double-digit return on equity by 2028. Earlier this month, IHH Healthcare announced a partnership with Oracle to consolidate its finance, human resources and supply chain systems in a single artificial intelligence-enabled cloud platform. In April, the group said it would ramp up its use of AI in operations and clinical care at Mount Elizabeth Hospital. Shares of IHH Healthcare closed flat at S$2.91 on Tuesday, before the results were announced. |
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| 27-May-2026 13:44 |
Totm Tech
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Why Is Price Of Yinda Slowly Moving Up Right Now?
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TOTM Technologies raised $5.5 mil from various investors including Lion Global TOTM Technologies Limited (TOTM Tech) (SGX:42F) announced that it has successfully completed the proposed private placement of 220,520,000 new shares at a placement price of 2.5 cents. The placement price was placed at a slight discount of around 2.72% to its volume weighted average price as at May 14. The placement shares represent approximately 14.52% of its existing issued share capital. TOTM Tech mentioned that this placement attracted participation from a range of investors, including Lion Global Investors Limited (as investment manager for and on behalf of its clients) and high net worth individuals. &ldquo The placement will accelerate the commercialisation of our next generation artificial intelligence and blockchain offerings, enabling us to pursue compelling strategic partnerships and acquisition opportunities. With our biometric and digital identity business as a stable foundation, the fresh capital will create new enterprise value levers, enhance long-term shareholder returns and solidify our position as a key digital infrastructure player,&rdquo says Chan Wei Jie, executive director and CEO of TOTM Tech. SAC Capital is the placement agent with Maybank Securities acting as sub placement agent. Shares of TOTM Tech closed flat at 2.5 cents on May 26. |
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| 27-May-2026 13:43 |
CSC
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CSC Holdings Ltd
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CSC Holdings reports FY2026 earnings of $2.7 mil, up 42.9% y-o-y declares final dividend of 0.037 cents CSC Holdings (SGX:C06) has reported earnings of $2.7 million for FY2026, ended March 31, 42.9% higher y-o-y. Revenue grew by 18.5% y-o-y to $400.4 million, mainly driven by robust construction demand in Singapore, which resulted in a higher delivery volume of foundation and geotechnical engineering works. Gross profit rose 9% y-o-y to $38.6 million while gross profit margin was lower at 9.6%, compared against the figure of 10.5% a year ago. The group explains that the lower gross profit margin in FY2026 was mainly due to certain lower-margin projects undertaken in Malaysia. On top of that, the rising energy and raw material price towards the end of the financial year also eroded its gross profit margin. Other operating expenses increased 2% y-o-y to $25.6 million, in line with the increased business activity, according to CSC Holdings. Earnings per share for FY2026 was 0.08 cent, compared to 0.05 cents a year ago. The board of CSC Holdings has proposed a final dividend of 0.037 cents per share for FY2026, compared to 0.035 cents per share back in FY2025. As at April 30, CSC Holdings&rsquo order book stood at $220 million. The group adds that it is actively participating in public sector tenders, including HDB and LTA packages, which are expected to be progressively put up for tender in the year ahead. The group adds that it is also seeking opportunities in the private sector, with a focus on the higher-specification semiconductor and aerospace projects. Against the current volatile operating environment, the group says that it will continue to exercise discipline in cost management and operational efficiency, while prioritising projects that meet its margin expectations rather than pursuing volume-driven growth. Shares of CSC Holdings closed flat at 1.5 cents on May 26. |
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| 27-May-2026 13:42 |
GRC
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GRC (OK Huat)
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Global Resource Construction&rsquo s subsidiary secures $757 million enhancement works contract Global Resource Construction&rsquo s (SGX:S3N) wholly owned subsidiary, CES_SDC, in a joint venture with KTC Civil Engineering & Construction (with CES_SDC as the lead joint venture partner), has been awarded a contract valued at approximately $757 million by the Land Transport Authority. The contract involves enhancement works to Xilin Avenue, East Coast Parkway and Tanah Merah Coast Road between Laguna Golf Green and Changi Coast Walk in Singapore. The construction period is expected to be around 84 months, with works scheduled to commence in the third quarter of this year. The company expects this contract to contribute positively to its net tangible assets and earnings for the financial year ending Dec 31, 2026. Shares of Global Resource Construction closed 0.8 cents higher, or 7.55% up at 11.4 cents on May 26. |
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| 26-May-2026 11:26 |
EuroSports Gbl
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Eurosports global
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EuroSports Global to raise more than $1.9 mil placing out new shares at 7.5 cents each Car dealer EuroSports Global has jumped on the secondary fund-raising bandwagon, raising gross proceeds of $1.99 million by placing out 26.5 million new shares at 7.5 cents each. The shares will be sold to another car dealer Align Auto, beneficially owned by one Kuah Zi&rsquo En and HRT Corporation. At 7.5 cents, the placement price is 100% premium over EuroSports' last traded price of 3.74 cents before this placement announcement. The placement shares will expand EuroSports' share base by 10%. According to the company, the placement is so that it can strengthen its financial position, given that it was in a negative working capital position for the year ended March. |
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| 26-May-2026 11:24 |
Aspial Lifestyle
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Aspial Lifestyle
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Aspial Lifestyle raises S$84.8 million at S$0.402 a piece S$60 million is from a private placement while S$24.8 million was obtained from a preferential offering [SINGAPORE] Consumer lifestyle group Aspial Lifestyle : 5UF 0%has completed a private placement of around 149.3 million new shares at an issue price of S$0.402 per share, raising proceeds of about S$60 million, it said on Monday (May 25). Additionally, the group raised another S$24.8 million after completing a preferential offering of 61.7 million new shares at the same issue price. The issue price represents a discount of around 8.1 per cent to the volume weighted average price of S$0.4375 per share for trades done on the Singapore Exchange (SGX) on May 13, which was the last full market day on which shares of Aspial Lifestyle were traded prior to the trading halt called by the group on May 14. Shares from the private placement will be listed and traded on SGX from 9 am on Monday. DBS, OCBC, SAC Capital and UOB acted as the joint placement agents for the private placement. The private placement was over two times covered, and attracted institutional investors including Eastspring Investments (Singapore), ICH Synergrowth Fund, JP Morgan Asset Management, Lion Global Investors Limited (as investment manager for and on behalf of its clients), and Value Partners Hong Kong. The total net proceeds raised will support business expansion, investments in &ldquo pawnbroking and secured lending businesses&rdquo , said the company &ndash and if opportunities arise, strategic acquisitions, as well as general working capital requirements. Shares of Aspial Lifestyle ended 1.2 per cent or S$0.005 lower at S$0.415 on Friday before the news. |
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| 26-May-2026 11:24 |
Mapletree Ind Tr
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MAPLETREE Industrial Trust (MIT)
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Mapletree Industrial Trust divests Philadelphia Data Centre for US$14.5 million The manager said divestment is the most &lsquo prudent&rsquo course of action to optimise capital allocation and portfolio performance [SINGAPORE] The manager of Mapletree Industrial Trust (MIT) : ME8U 0% on Monday (May 25) announced the sale of Philadelphia Data Centre for US$14.5 million &ndash a deal entered into with DBS Trustee, as trustee of MIT, and a non-interested third-party purchaser. This comes on the back of &ldquo limited&rdquo leasing interest in the property in the current environment, since its lease expired on Dec 31, 2024, noted the trust. The manager said divestment is the most &lsquo prudent&rsquo course of action to optimise capital allocation and portfolio performance. Repositioning or redeveloping the property presents challenges including extended lead times to secure higher power capacity, on top of construction and execution risks. The price determined for the property represents a 4.3 per cent premium above the independent valuation of US$13.9 million as at Mar 31, noted a bourse filing. The building is located at 2000 Kubach Road, Philadelphia, Pennsylvania, and has two storeys with a net lettable area of about 124,190 square feet (sq ft). It sits on freehold land site of about 1.1 million sq ft. Lily Ler, chief executive officer of the manager, said the sale is part of the trust&rsquo s broader strategy to &ldquo rebalance (its) portfolio.&rdquo &ldquo Redeploying capital into markets and assets with sustainable growth potential will strengthen MIT&rsquo s portfolio and deliver sustainable returns to unitholders,&rdquo she added. The deal is expected to be completed by the third quarter of 2026. Units of MIT ended Monday 0.5 per cent or S$0.01 higher at S$1.95 before the news. |
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| 26-May-2026 11:23 |
Jardine C&C
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Jardine C&C
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Jardine Matheson acquiring I-MED Radiology Network for A$3.4 billion Deal will be funded through existing cash and debt [SINGAPORE] Jardine Matheson Holdings (JMH) : J36 0% on Monday (May 25) said that it is acquiring Australia-based diagnostic imaging and teleradiology player I-MED Radiology Network for A$3.4 billion (S$3.1 billion). The company said I-MED is a leader in the diagnostic imaging space, based in an &ldquo attractive developed Asia-Pacific market with strong structural growth prospects and defensive industry characteristics&rdquo . The deal includes I-MED&rsquo s minority interest in Harrison.ai, which develops radiology artificial intelligence solutions, including CT brain and chest scans. &ldquo JMH&rsquo s patient capital will support investment to scale the business and explore new markets, maintaining high levels of growth in the medium term,&rdquo the company said in a bourse filing. JMH noted an attractive valuation of the deal, at about 11.5 times forecast adjusted earnings before interest, taxes, depreciation and amortisation for the 12 months ending June for the core business &ndash excluding the stake in Harrison.ai &ndash and that it is expected to generate returns above targets, under Jardine&rsquo s capital allocation framework. The transaction will be funded through a combination of Jardine&rsquo s existing cash resources and debt facilities. It is subject to customary closing conditions including regulatory approvals, and is expected to complete later in 2026. I-MED operates a network of 215 diagnostic imaging clinics across metropolitan and regional communities in Australia and New Zealand. It also performs over seven million patient procedures a year in clinics. |
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| 26-May-2026 11:22 |
Addvalue Tech
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Addvalue Tech
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Addvalue Tech rises 14.5% on H2 earnings surge Net profit for the half-year is up 48.5% at US$2.9 million [SINGAPORE] Shares of Addvalue Technologies : A31 +16.67% rose on Monday (May 25) morning after the mainboard-listed company reported higher net profit for its second half ended Mar 31. The stock rose 14.5 per cent or S$0.02 to S$0.158 as at 11.59 am on Monday, with 200.1 million shares changing hands. By the midday trading break, it had eased to S$0.157, still up by 13.8 per cent or S$0.019, with nearly 201 million shares transacted, making it the top traded stock on the Singapore Exchange by volume. The counter&rsquo s rise comes after Addvalue reported on May 23 a 48.5 per cent rise in net profit to US$2.9 million for H2, driven by higher product deliveries. This was up from US$1.9 million in the previous corresponding period. Revenue rose 63.6 per cent year on year to US$16.1 million from US$9.8 million. For the full year, Addvalue&rsquo s net profit rose 147.5 per cent to US$4.8 million from US$2 million the previous year. Full-year revenue for the satellite communications company came in at US$24.8 million, an increase of 59.9 per cent from US$15.5 million a year earlier. Earnings per share for the full year stood at US$0.00142, up from US$0.000603 the previous year. Gross margin for the full year was at 52.1 per cent, unchanged from FY2025, while H2 margin slipped marginally to 52.4 per cent from 54.3 per cent previously. The company did not declare any interim or final dividends for FY2026, noting that it is still in the &ldquo nascent phase of strengthening its working capital in its earlier years of profitability&rdquo after emerging from its loss-making position. Addvalue expects its growth momentum to continue over the next 12 months, backed by accelerating revenue growth in FY2026 and an &ldquo improving positive&rdquo earnings before interest, taxes, depreciation and amortisation, and after-tax profit of US$4.8 million. Across its four business segments, its space connectivity-related (SPC) business segment saw the largest contribution in terms of revenue, driven by the continual orders for inter-satellite data relay system (IDRS) terminals and the accompanying data connectivity services predominantly from the US and Japan. Addvalue said its IDRS business continued to gain traction, recording a 60.6 per cent year-on-year increase in FY2026. Its SPC business maintained growth momentum driven by the adoption of low Earth-orbit satellite technologies in the new space industry. Its advanced digital radio-related business grew 57.5 per cent on the year, supported by its diverse range of products. As at Mar 31, 2026, the company had an order book of US$23.1 million that is expected to be substantially fulfilled in FY2027. The company said its current order book compares favourably with the revenue achieved in FY2026. Barring unforeseen circumstances, it remains confident of its performance in FY2027. Addvalue also said it has commenced the proposed spin-off listing of its IDRS business, after receiving concurrence from the bourse that the exercise would not constitute a chain listing, subject to listing requirements and shareholders&rsquo approval. |
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| 26-May-2026 11:21 |
UOB
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UOB
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High Court raps UOB over inconsistent legal positions on late mortgage payment charges [SINGAPORE] The High Court has criticised UOB over what it called the bank&rsquo s inconsistent legal positions on late payment charges in mortgage cases, after the lender repeatedly dropped such claims only when questioned by the court. In a written judgment on May 18, Assistant Registrar Randeep Singh Koonar said it was &ldquo unsatisfactory&rdquo that UOB persisted in making claims for late payment charges in court actions, but withdrew them when asked to justify the legal basis. The judgment was delivered on a 2026 case involving a mortgage action filed by UOB against a company that defaulted on a S$556,200 loan secured by a commercial unit at Oxley Bizhub in Ubi Road 1. But Randeep noted that on two other 2025 cases, the bank withdrew such claims after the High Court queried them. &ldquo UOB should take a principled and consistent position on its legal entitlement to impose the late payment charge,&rdquo the assistant registrar said. &ldquo (It&rsquo s) unsatisfactory for UOB to persist in making such claims but drop them once made to justify and defend their position.&rdquo In the current case, the bank took the company, SGmade Co-Operates, to court in March 2026. Accounting and Corporate Regulatory Authority records show that the company is a footwear retailer. The loan to SGmade Co-Operates was granted in June 2023 and was to be repaid over 312 monthly instalments. UOB issued its first demand letter in September 2025 after the borrower fell into arrears. A second demand letter followed in October 2025, when the bank recalled the loan and demanded full repayment of more than S$542,500. By December 2025, the bank had served a notice on the borrower and occupants to leave the premises within one month. In court, UOB sought orders for vacant possession of the property, repayment of the outstanding loan sum and an S$80 late payment charge for each missed instalment. The case was heard in the High Court on April 10, but the borrower did not turn up and remained unrepresented throughout the proceedings. Despite the borrower&rsquo s absence, which meant UOB&rsquo s applications were uncontested, the bank did not score an immediate walkover victory. The assistant registrar said: &ldquo (Even) in an unopposed application, it remained for UOB to satisfy the court that all the procedural and substantive requirements for granting the orders sought... were met.&rdquo Randeep questioned whether UOB could continue charging late fees after recalling the entire loan and demanding immediate repayment of the full amount. The High Court also criticised shortcomings in the bank&rsquo s court papers. The assistant registrar said UOB&rsquo s supporting affidavit failed to explain the contractual basis for recalling the loan and demanding full repayment. &ldquo It is insufficient for a claimant to make sweeping and unparticularised assertions in the supporting affidavit and leave the court and the defendant to pore over pages of contractual documents to decipher what its case is,&rdquo he said. UOB later amended its application and dropped the claims for late payment charges. When pressed by the High Court, the bank conceded that it was &ldquo not legally entitled to impose late payment charges on monthly instalments that fell due after the banking facilities had been terminated&rdquo . The assistant registrar agreed with the bank&rsquo s concession. The dispute centred on a standard clause in UOB&rsquo s facility letter imposing an $S80 fee &ldquo on each instalment payment not paid on due date&rdquo . Randeep said the wording of the loan agreement was &ldquo plain and unambiguous&rdquo because the late payment charge applied only to missed &ldquo instalment payments&rdquo . Once the bank recalled the loan and demanded full repayment, there were no longer monthly instalments to pay, he said. He added that while UOB could still impose late interest charges on the outstanding sum, it could not continue charging monthly late payment fees. The assistant registrar said the outcome was commercially sensible. If UOB decides not to terminate the facility, it may claim arrears, late interest and late payment charges, he said. But if the bank decides to terminate the facility and claim the full outstanding amount, it cannot claim payment of the late payment charge, he added. He also noted that while UOB ultimately conceded its position in the case, the point on late payment charges was worth addressing because similar clauses are commonly found in loan agreements issued by UOB and other banks. Although UOB eventually succeeded in obtaining possession orders and repayment of the outstanding loan sum, the High Court trimmed the bank&rsquo s legal costs request. UOB had sought S$8,000 in costs, but the High Court awarded S$7,500 instead. The bank was represented by Gracia Goh of Rajah & Tann Singapore. When contacted, a UOB spokesman said on Monday (May 25): &ldquo The bank accepts the court&rsquo s ruling that the late payment charge should not continue after the facility has been terminated and will follow this guidance moving forward.&rdquo |
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| 26-May-2026 11:19 |
AIMS APAC Reit
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AIMSAMPI Reit
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Aims Apac Reit eyes data centre growth as it expands beyond industrial assets Government endorsement for two Sydney sites gives the manager the option to develop them into data centre assets [SINGAPORE] Mainboard-listed Aims Apac Real Estate Investment Trust ( AA Reit : O5RU 0%) is zooming in on data centre opportunities as it looks beyond traditional industrial assets for its next phase of growth, to tap rising demand for digital infrastructure. &ldquo Even though we had another year of steady growth, we are making a deliberate pivot towards data centres,&rdquo said Russell Ng, CEO of AA Reit&rsquo s manager. He pointed to two sites in New South Wales, Australia, that received government endorsement as potential data centre developments &ndash a &ldquo significant game changer&rdquo . The state&rsquo s Investment Delivery Authority in March endorsed AA Reit&rsquo s two Sydney assets at Macquarie Park and Bella Vista, among a select group of strategic data centre projects. Ng noted that about A$92 billion (S$83.9 billion) in proposed projects were assessed, with around A$52 billion across 15 developments endorsed. These included sites owned by hyperscalers such as Microsoft, NextDC, Stockland and Goodman Group. The endorsement, he added, helps to connect the assets to key government agencies, including those involved in planning approvals and energy coordination. He also described it as &ldquo a big positive&rdquo that gives the manager &ldquo future optionality&rdquo to develop the sites as data centre assets, highlighting that data centre development is a multi-year undertaking. In the light of this, Ng expects that substantial future development upside may come from Australia. &ldquo If we are able to secure power and obtain the necessary approvals (from) the government over time, both these (Sydney) properties have substantial upside in terms of what they bring to the overall portfolio,&rdquo he said. Singapore, meanwhile, continues to form AA Reit&rsquo s core leasing and income base. Most of its leasing activity takes place in Singapore, where the manager has also undertaken the majority of its asset enhancement and redevelopment works. &ldquo Most of our organic growth has taken place predominantly in Singapore,&rdquo Ng noted, adding that it has completed nearly seven asset enhancement initiatives, including six projects in the city-state and one in Australia. It has also executed five redevelopment projects, again largely concentrated in Singapore. Nevertheless, AA Reit&rsquo s Australian properties &ndash which comprise three primarily master-leased assets with lease terms ranging from five to seven years &ndash provide long-duration income stability. These assets help anchor the portfolio, while the Singapore properties offer mark-to-market opportunities, lease renewals and asset enhancement initiatives. Active manager What differentiates AA Reit from its peers is its &ldquo active manager&rdquo approach, said Ng. &ldquo We don&rsquo t just collect rent,&rdquo he said. &ldquo We constantly seek ways to manufacture income and capital growth through asset enhancements and redevelopments.&rdquo In total, the Reit has about S$2.3 billion in assets across logistics, industrial business parks and high-tech properties, with roughly three-quarters of its portfolio in Singapore and the rest in Australia. AA Reit is sponsored by Aims Financial Group, a Sydney-based fund manager and owner of the Sydney Stock Exchange, with a portfolio value of close to A$3 billion. Ng joined AA Reit in 2020 as head of investor relations, investments and partnerships, then became chief executive in 2021. Prior to that, he was head of funds for Asia at Lendlease and earlier held roles in fund management at AEP Investment Management. A key focus of his has been executing four strategic pillars &ndash selective acquisitions, active asset management, prudent capital management and strategic partnerships &ndash to achieve results. He noted that AA Reit has delivered consistent year-on-year growth in revenue, net property income, distributions and distribution per unit (DPU) over the past five years. The exception was the 2024 financial year, when equity fundraising of S$100 million temporarily affected metrics. Earlier in May, the Reit posted a 4.1 per cent higher DPU for its second half ended Mar 31. It stood at S$0.0513, from S$0.0493 the year before. Revenue for the six months increased 4.1 per cent to S$97 million, from S$93.1 million in the corresponding year-ago period. The growth was driven by higher rental income and recoveries from logistics, warehouse and industrial properties such as 27 Penjuru Lane, as well as 8 and 10 Pandan Crescent. The manager also cited higher income contributions from 7 Clementi Loop following the completion of asset enhancement initiatives. &ldquo Investors were generally quite pleased at the fact that we&rsquo ve been able to, for five years in a row, deliver that top line... growth and almost year-on-year growth in DPU,&rdquo Ng said. Investors&rsquo main concerns centred on potential risks, including inflation, geopolitical tensions in the Middle East and interest rate uncertainty. &ldquo Our feedback was that there was minimal impact on our portfolio at this stage,&rdquo he said. &ldquo Most of our energy contracts have been locked in and secured for the next two (to) three years.&rdquo |
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| 26-May-2026 11:18 |
SATS
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Sats
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SATS earnings up 17% y-o-y to $285.2 mil for FY2026 declares final dividend of 5 cents SATS Limited (SGX:S58) has reported earnings of $285.2 million for the FY2026 ended March 31, up 17% y-o-y. Meanwhile, SATS has achieved a record revenue of $6.35 billion in the same period, which represent an increase of 9% y-o-y. SATS explained that the record revenue was supported by robust cargo volume growth and contributions from ground handling and food services. Gateway services revenue rose 10.8% y-o-y to $4.95 billion, driven by continued market share gains and cargo volumes that outperformed IATA&rsquo s global growth benchmarks. Food solutions revenue grew 2.9% y-o-y to $1.39 billion, reflecting stable inflight meal demand. Operating profit rose 14.2% y-o-y to $543.3 million, with operating profit margin expanding from 8.2% in FY2025 to 8.6% in FY2026, citing improved operating leverage. Share of earnings from associates and joint ventures was stable at $114.5 million. As at March 31, SATS&rsquo total equity increased to $2.94 billion, primarily attributed to profit generated during the financial year. Total assets grew to $9.07 billon while total liabilities increased by $23.3 million to $6.14 billion as compared to March 31, 2025. Operating cash flow after lease repayment was $560.5 million for FY2026, an increase of $110.5 million from a year ago. Free cash flow stood at $215.8 million, slightly lower compared against the figure of $228.3 million a year ago, due to higher capital expenditure and lease payments for facility expansions. SATS&rsquo board of directors has declared a final dividend of 5 cents per share, up 43% y-o-y from 3.5 cents per share. Combined with the interim dividend of 2 cents per share, total full-year dividend stood at 7 cents per share, which represent a 40% y-o-y increase. The proposed final dividend will be tabled for shareholders&rsquo approval at the upcoming AGM on July 17 and if approved, will be paid on August 6. Book closure date is July 24. " While short-term challenges persist, our operating model has consistently proven its resilience. We enter FY2027 with a broader network, continued infrastructure investment, a strong pipeline of opportunities and confidence in our ability to deliver long-term value for our shareholders,&rdquo says Kerry Mok, SATS&rsquo president and CEO. Shares of SATS closed 9 cents higher, or 2.74% up at $3.37 on May 25. |
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| 26-May-2026 11:11 |
Boustead
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Boustead on the move now
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Boustead more than doubles H2 profit to S$197.7 million Full-year earnings are up 145% the board proposes a final ordinary dividend of S$0.04 a share [SINGAPORE] Engineering and technology group Boustead Singapore&rsquo s net profit for its second half ended Mar 31 grew 235 per cent to S$197.7 million from the year-ago period. This came on the back of revenue rising 43 per cent to S$330.4 million, said the group on Monday (May 25). On a per-share basis, earnings for the half-year came in at S$0.392, up from S$0.12 in the year-ago period. For the full year, the group&rsquo s net profit was up 145 per cent at S$232.6 million, from S$95 million in FY2025. Boustead attributed the increase primarily to the sale of assets to UI Boustead Reit : UIBU +3.21%, as well as to a material improvement in its share of the losses of associates and joint ventures, upon the reversal of a S$7 million liability related to a fee imposed by a landowner. For a comparative review, after adjusting for other gains/losses and impairments, all net of non-controlling interests, it said that net profit for FY2026 would have been 35 per cent lower year on year. Wong Fong Fui, chairman and group chief executive officer of Boustead, said that the group &ldquo realised the full market value of its portfolio&rdquo through the sale of 21 Singapore properties from UI Boustead Reit&rsquo s March listing. Full-year revenue was up 18 per cent at S$624.4 million, from S$527.1 million. The increase was mainly due to &ldquo significantly higher revenue&rdquo from the group&rsquo s real estate solutions division and higher revenue from the energy engineering division. The group said its engineering order backlog stands at about S$840 million, comprising S$94 million from its energy engineering division and S$746 million from its real estate solutions division. The backlog refers to unrecognised project revenue as at the end of FY2026, together with the value of new orders secured since then. The board has proposed a final ordinary dividend of S$0.04 a share and a special dividend of S$0.045 a share, subject to shareholders&rsquo approval. Both dividends may be taken in cash and/or scrip. Including the interim dividend of S$0.015 a share that has already been paid, total dividends for FY2026 amount to S$0.10 a share, up from S$0.075 for FY2025. Full-year revenue from Boustead&rsquo s real estate solutions segment was 70 per cent higher year on year at S$228.2 million, on the back of &ldquo revenue recognition on a healthy order backlog carried forward into FY2026&rdquo . This was attributed to the recovery of Singapore&rsquo s industrial sector, with a notable pick up in projects and business development activities. The energy engineering division&rsquo s revenue was 8 per cent higher year on year at S$171.8 million, with higher contributions from project sales and faster progress on various projects. However, a lower order backlog carried forward at the end of FY2025 meant that revenue for this division was &ldquo dampened&rdquo , Boustead said. &ldquo With ongoing geopolitical tensions, the division&rsquo s clients have slowed down business development activities, resulting in fewer overall orders for this division in FY2026,&rdquo it added. Shares of Boustead ended trading at S$2.57, down S$0.15 or 6.2 per cent, before the news. |
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