Market Snapshot
Singapore stocks opened lower on Tuesday. STI fell 0.12%; iFast stock jumped over 2% as Q3 profit rises 24.5%; Bumitama Agri, UMS up over 3%.
Stocks in Focus
$CapitaLand Ascott Trust(HMN.SI)$ (Clas): The lodging trust reported on Tuesday a 4 per cent year-on-year improvement in same-store operating performance for Q3, excluding acquisitions, divestments and The Cavendish London, which was closed for renovations. Portfolio revenue per available unit stood at S$164, with occupancy at 84 per cent. Clas, which has S$8.7 billion in total assets, said profit was affected by portfolio reconstitution activities, although it remained relatively stable excluding the London property. Stapled securities of Clas ended 0.6 per cent or S$0.005 up at S$0.825 on Monday.
$Keppel Infrastructure Trust(A7RU.SI)$ (KIT): The trust on Tuesday posted a distributable income of S$140.1 million for the first nine months of 2026, down 17 per cent from S$168.9 million in the year-ago period. The dip in distributable income comes from an absence of S$44.1 million in divestment gains from the previous year. Excluding this, the trust’s distributable income rose 12.3 per cent from S$124.8 million the prior year. Total assets funds from operations grew 14.8 per cent to S$293.7 million, from S$255.8 million previously. Units of KIT closed 1 per cent or S$0.005 higher at S$0.495 on Monday.
$iFast(AIY.SI)$: The digital bank and wealth management platform posted a 24.5 per cent rise in net profit to S$32.4 million for its third quarter ended Sep 30, from S$26 million in the previous corresponding period. Earnings per share stood at S$0.1056 for the quarter, up from S$0.0856 the previous year. In a bourse filing on Monday, the company reported that revenue was up 23 per cent year on year at S$167 million, from S$135.8 million. Shares of iFast closed Monday 0.6 per cent or S$0.05 lower at S$8.01, before the release of the results.
$ESR Real Estate Investment Trust(9A4U.SI)$ (Reit): The industrial Reit on Tuesday reported a 4.2 per cent year-on-year decline in net property income to S$237.5 million for the nine months ended Sep 30, 2026, while gross revenue fell 1.5 per cent to S$329.6 million, mainly due to divestments. On a same-store basis, gross revenue rose 1.8 per cent, while net property income slipped 1 per cent. Distributable income increased 1 per cent to S$136 million, supported by lower borrowing costs and higher income from Australian property funds. Units of ESR Reit closed 1 per cent or S$0.02 lower at S$1.97 on Monday.
$First Sponsor(ADN.SI)$: The property developer on Tuesday posted a 14.8 per cent increase in operating income to 17.2 million euros (S$24.6 million) for Q3 2026, up from 14.9 million euros in the year-ago period. The rise was due to to the full quarter contributions from two hotels acquired in 2026. However, the group’s Chengdu portfolio was weighed down by economic weakness in China, with its Q3 net property income falling 10 per cent from a year ago. The counter ended flat at S$0.965, before the announcement.
SG Local News
Singapore Factory Output Growth Slows Sharply to 3.4% in September, Missing Forecasts
The Republic’s factory output growth slowed sharply to 3.4 per cent year on year in September, from 15.4 per cent in August, as electronics production moderated and biomedical manufacturing contracted.
The reading fell short of the 7.8 per cent expansion forecast by private-sector economists in a Bloomberg poll, based on data released by the Economic Development Board (EDB) on Monday (Oct 26).
Excluding the volatile biomedical manufacturing cluster, output increased 9 per cent year on year, down from August’s revised 16.8 per cent expansion.
Indonesia Says Gas Export Cuts to Singapore Remain Within Contract Terms
Indonesia’s reduction in natural gas supplies to Singapore remains within the minimum export volume stipulated in their contract, and the government will continue to assess whether the cut should be made permanent, Energy and Mineral Resources Minister Bahlil Lahadalia said on Monday (Oct 26).
The government will continue to review its gas export policy, prioritising domestic energy needs as it balances contractual obligations with demand from the power and industrial sectors, Bahlil told a press briefing. The policy also takes into account maintenance work at gas facilities, which has affected supply.
Singapore to Store Saudi Oil in Underground Caverns From 2027
Singapore will store Saudi Arabian oil in caverns in the city-state from the second half of next year, part of a plan by the kingdom to cope with disruptions from the US-Iran war.
The crude will be held in the Jurong Rock Caverns, in a petrochemicals and refining complex in the southern part of Singapore, Tan See Leng, the city-state’s minister for energy, trade and industry, said in a speech at the Singapore International Energy Week conference on Monday.
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