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08-04 14:50

Capital Efficiency Continues to Drive SGX SMID Valuations

Higher ROE Continued to Attract Higher Valuations  The positive relationship between profitability and valuation remained evident across the SGX small and mid-cap (SMID) universe. Across approximately 220 SGX SMIDs, including S-REITs, median price-to-book (P/B) multiples increased from 0.55x in the lowest return on equity (ROE) quartile to 2.25x in the highest ROE quartile. ROE and P/B recorded a Spearman rank correlation of 0.62. A Spearman rank correlation measures how closely two variables move together when ranked, with a reading of 1.0 indicating a perfect positive relationship. The 0.62 reading indicates a relatively strong positive association, with companies generating higher returns on shareholder capital generally also ranking among those trading at higher valuation multiple
Capital Efficiency Continues to Drive SGX SMID Valuations
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08-04 10:23

7M26 Buyback Consideration Reaches S$1.9 Billion

Over the first seven months of 2026 (7M26), more than 70 primary-listed companies in Singapore have collectively repurchased S$1.9 billion worth of shares on the open market, up from around S$1.3 billion during 7M25, and S$772 million in 7M24. Buyback activity remained concentrated among the largest issuers, with $Singtel(Z74.SI)$ accounting for almost half of the aggregate 7M26 buyback consideration. MU Pic 1 Companies repurchase shares to support employee compensation plans or to deploy surplus capital more effectively. ACRA maintains that buybacks can enhance key financial metrics such as Earnings per Share (EPS) and Return on Equity (ROE), take advantage of perceived undervaluation, and reduce the overall cost of capital. The table below det
7M26 Buyback Consideration Reaches S$1.9 Billion
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08-04 10:01

SGX Daily Top Movers (4-8-2026): D05, O39, U11, Z74, 5E2, C38U, BN4, BS6, A17U & S63 lead

SGX Daily Top Movers (4-8-2026): D05, O39, U11, Z74, 5E2, C38U, BN4, BS6, A17U & S63 lead
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08-03 10:22

SGX Daily Top Movers (3-8-2026): D05, O39, S63, U11, Z74, S68, C6L, AWX, BN4 & 5E2 lead

SGX Daily Top Movers (3-8-2026): D05, O39, S63, U11, Z74, S68, C6L, AWX, BN4 & 5E2 lead
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08-03 10:06

Weekly: 8AZ, AIY, BN2, 42C & AVG lead Buybacks

Over the five sessions, more than 50 director interests and substantial shareholdings were filed for close to 30 primary-listed stocks.  Directors or CEOs reported four acquisitions and no disposals, while substantial shareholders recorded five acquisitions and one disposal. 1. $Aztech Gbl(8AZ.SI)$ On 29 July, Aztech Global Executive Chairman and Chief Executive Officer Michael Mun Hong Yew acquired 100,000 shares at an average purchase price of S$0.715 per share. Following the market purchase, Mr Mun's total interest in the company increased to 542.8 million shares, equivalent to 70.3% of Aztech Global's issued share capital. The share purchase came a day after Aztech Global reported first-half 2026 net profit of S$9.4 million on revenue o
Weekly: 8AZ, AIY, BN2, 42C & AVG lead Buybacks
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08-03 09:56

S-REITs Deliver Strong H1: $K71U $T82U $TS0 $N2IU

Singapore’s real estate investment trusts (S-REITs) with meaningful office exposure delivered a robust showing for the first half as operating performance remained strong while borrowing costs declined. $Suntec Reit(T82U.SI)$ , $Keppel Reit(K71U.SI)$ and $OUEREIT(TS0U.SI)$ , which hold exposure to Singapore CBD assets reported strong growth in distributable income (DI) in their latest reporting period ended June. Tight physical supply in core business districts, flight-to-quality, and footprint expansion from global AI players provided support for occupancy rates and positive rental reversions across key portfolio holdings. Knight Frank noted in its Q2 2
S-REITs Deliver Strong H1: $K71U $T82U $TS0 $N2IU

SGX Daily Top Movers (31-7-2026): Z74, D05, O39, U11, BN4, S68, BS6, C38U, C6L & U96 lead

SGX Daily Top Movers (31-7-2026): Z74, D05, O39, U11, BN4, S68, BS6, C38U, C6L & U96 lead

SGX Daily Top Movers (30-7-2026): D05, O39, Z74, U11, C6L, 5E2, BN4, S68, C38U & A17U lead

SGX Daily Top Movers (30-7-2026): D05, O39, Z74, U11, C6L, 5E2, BN4, S68, C38U & A17U lead

SGX Daily Top Movers (29-7-2026): D05, Z74, O39, U11, A17U, C38U, BN4, 9CI, AWX & BS6 lead

SGX Daily Top Movers (29-7-2026): D05, Z74, O39, U11, A17U, C38U, BN4, 9CI, AWX & BS6 lead

EGP Energy IPO: A Hidden Player in Asia’s Power Infrastructure Boom

$EGP ENERGY CORP(EGX.SI)$ is an electrical infrastructure solutions and service provider for T&D projects in Singapore, with extensive expertise in EHV/HV power transmission and MV distribution network projects. Transmission and distribution are two key stages in the delivery of electricity from generation sources to end-users. Transmission focuses on moving bulk electricity over long distances through EHV/ HV transmission networks, while distribution steps down the voltage and delivers electricity through MV distribution networks to local areas and individual consumers. The Group specialises in providing engineering, procurement and construction (EPC) management services for T&D projects including: Project design, supplying, installing,
EGP Energy IPO: A Hidden Player in Asia’s Power Infrastructure Boom

SGX Daily Top Movers (28-7-2026): D05, 5E2, O39, U11, Z74, BS6, C38U, S68, C6L & AJBU lead

SGX Daily Top Movers (28-7-2026): D05, 5E2, O39, U11, Z74, BS6, C38U, S68, C6L & AJBU lead

SGX Daily Top Movers (27-7-2026): D05, O39, Z74, U11, C38U, S68, BS6, A17U, S63 & 5E2 lead

SGX Daily Top Movers (27-7-2026): D05, O39, Z74, U11, C38U, S68, BS6, A17U, S63 & 5E2 lead

Singapore's OIP Helps Companies De-Risk AI Adoption

Earlier this year, Singapore Budget 2026 outlined a continued push to embed artificial intelligence across the economy, including the establishment of a National AI Council, expanded support for AI-related expenditure and solutions, and measures to build practical AI capabilities across firms and the workforce through the National AI Impact Programme.  Last week's IMF Article IV consultation on Singapore also highlighted technology adoption, including artificial intelligence, alongside skills development, as central to productivity and medium-term growth, particularly amid an uncertain external environment. In practice, this places greater emphasis on how companies translate access to technology into execution, where solutions need to be tested, integrated and scaled within operating
Singapore's OIP Helps Companies De-Risk AI Adoption

Weekly:UOB, Singtel & The Hour Glass lead Buybacks

Over the five trading sessions through 23 July, 13 primary-listed companies repurchased a combined S$22.5 million of their shares through market acquisitions. Activity was led by $UOB(U11.SI)$ , which bought back 313,500 shares for S$13.4 million, followed by $Singtel(Z74.SI)$ with S$5.6 million of repurchases. $TheHourGlass(AGS.SI)$ was also active, acquiring 229,000 shares for S$630,000. On 16 July, KGI Securities initiated coverage of The Hour Glass with an Outperform rating and a target price of S$3.94. The report highlighted the group's access to allocation-constrained brands such as Rolex, Patek Philippe and Audemars Piguet, its debt-free balance shee
Weekly:UOB, Singtel & The Hour Glass lead Buybacks

8-week Rally: STI Gained 1.43% as Gold, Shipbuilding, and Energy SDRs Lift the Index

1. Weekly Recap $Straits Times Index(STI.SI)$ gained 1.43% and closed at 5,588.34, as strength in gold proxies, Yangzijiang Shipbuilding, and Thai/Chinese energy SDRs offset weakness in Tencent and Indonesian financials. Sectors: Gold (+16.02%) led on safe-haven demand and precious-metals momentum. Health Care Equipment (+14.39%) surged on med-tech innovation. Broadline Retail (+12.91%) advanced on consumer reopening, while Food Distributors (+11.41%) tracked resilient grocery demand. 10 Popular Stocks: $YZJ Shipbldg SGD(BS6.SI)$ +10.19% — The Chinese shipbuilder extended its rally on strong order-book momentum and Southeast Asia defense-spending tailwinds. $S
8-week Rally: STI Gained 1.43% as Gold, Shipbuilding, and Energy SDRs Lift the Index

SGX Daily Top Movers (24-7-2026): D05, O39, U11, Z74, BS6, C38U, U96,ICU, S63 & S68 lead

SGX Daily Top Movers (24-7-2026): D05, O39, U11, Z74, BS6, C38U, U96,ICU, S63 & S68 lead

SGX Daily Top Movers (23-7-2026): D05, O39, Z74, BS6, U11, S68, C6L, AWX, 558 & 5E2 lead

SGX Daily Top Movers (23-7-2026): D05, O39, Z74, BS6, U11, S68, C6L, AWX, 558 & 5E2 lead

Singapore Construction Boom Fuels Listed Infrastructure Plays

Singapore's construction sector remains one of the most visible beneficiaries of the country's investment cycle. Construction demand reached S$50.5 billion in 2025, and BCA expects a further S$47 billion to S$53 billion of project awards in 2026, supported by major transport, healthcare, housing and commercial developments. Projects spanning Changi Airport Terminal 5, the Marina Bay Sands expansion, the New Tengah General & Community Hospital, the Downtown Line 2 Extension and the Thomson-East Coast Line Extension provide visibility across both public and private sector pipelines. BCA also expects construction demand to average S$39 billion to S$46 billion annually from 2027 to 2030. Among Singapore's Strongest-Growing Sectors Construction was among Singapore's strongest-performing sec
Singapore Construction Boom Fuels Listed Infrastructure Plays

🎉New US SDRs on SGX From 22 July: SpaceX, Sea, Grab

From 22 July, SpaceX ( $SpaceX US SDR 100to1(UXSD.SI)$ ), alongside Sea ( $Sea US SDR 50to1(UGGD.SI)$ ) and Grab ( $Grab US SDR 2to1(UGBD.SI)$ ), is available for trading on SGX via Singapore Depository Receipts (SDRs). These three US SDRs trade in board lots of 10 units, with minimum investment amounts estimated to be below S$30. The SpaceX US SDR has a 100:1 SDR-to-underlying share ratio, allowing investors to gain exposure to SpaceX at a fraction of the cost of purchasing a full US-listed share. SDRs are denominated in Singapore dollars and trade on SGX during local market hours. Learn more about SDRs here. Space Exploration Technologies Corp (
🎉New US SDRs on SGX From 22 July: SpaceX, Sea, Grab

SGX Daily Top Movers (22-7-2026): D05, O39, Z74, U11, S68, C38U, C6L, BS6, A17U & AWX lead

SGX Daily Top Movers (22-7-2026): D05, O39, Z74, U11, S68, C38U, C6L, BS6, A17U & AWX lead

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