Industry News

The Maritime and Port Authority of Singapore (MPA) announced that 18 crew members from the vessel Wan Hai 503 have been successfully rescued by the Indian Navy. The crew were transferred from lifeboats to an Indian Navy ship, which is currently heading towards New Mangalore Port. However, four crew members—two from Taiwan, one from Myanmar, and one from Indonesia—are still missing, and search and rescue (SAR) operations are ongoing.

The rescued crew includes five individuals who have sustained injuries. These injured crew members are receiving medical treatment onboard the Indian Navy ship as it makes its way to port. As of 20:30 on 9 June 2025, three vessels from the Indian Coast Guard and Indian Navy have been deployed to aid in the SAR operations, with aircraft also assisting in the search efforts.

MPA has expressed gratitude to the Indian authorities for their swift action in rescuing the crew and supporting the ongoing SAR operations. A team from MPA is on its way to assist the Indian authorities further. The situation remains critical, and MPA has conveyed its thoughts to the crew and their families during this challenging time. Further updates will be provided as more information becomes available.
“`

Singapore’s stock market has witnessed a vigorous start to 2025 with primary-listed companies engaging in substantial share buybacks. Over the first five months, companies have collectively repurchased millions of shares, with the top five buybacks totalling significant investments.

Among the leaders, Sembcorp Industries acquired 15 million shares for a consideration of S$29.5m. Other notable buybacks include purchases of 6.58 million shares for S$277.2m and 7.26 million shares for S$253m. These strategic moves reflect a growing trend among companies to enhance shareholder value and optimise capital structures.

The Lion-OCBC Securities Singapore Low Carbon ETF, which tracks the top 40 companies focusing on decarbonisation, has also shown impressive performance. It recorded a 31.6% total return over the past three years, marking it as the best-performing Singapore equity ETF by the end of April 2025. This ETF evaluates companies based on their carbon emissions relative to their sector, excluding those with significant fossil fuel involvement.

Retail investor activity has also been notable, with the 25 most net-sold stocks by retail investors in May averaging an 8.5% total return, surpassing the Straits Times Index’s 2.9% return. Non-STI stocks, such as Sheng Siong and SIA Engineering, led with 13% total returns.

As the year progresses, these buyback activities and investment trends are expected to continue influencing the market dynamics, potentially impacting stock valuations and investor strategies.
“`

DFI Retail Group Holdings is set to strategically reinvest its significant cash reserves following the sale of its stakes in RRHI and Giant Singapore. The company is considering reinvestment and special dividends as more prudent options whilst waiting for suitable merger and acquisition (M&A) opportunities, given the current high cost and risk of potential targets.

The group’s financial strategy comes after a strong first quarter performance in 2025, leading to an adjustment in the forecasted core earnings for the financial years 2025 and 2026 by 4% and 3%, respectively. This adjustment reflects the impact of recent divestments and the robust performance in the first quarter.

DFI Retail Group has also increased its target price to $3.60, supported by a higher price-to-earnings ratio of 16.7 times, aligning with the median of its peers. This increase is largely attributed to the anticipated special dividend payouts, which are expected to enhance shareholder value.

The company’s decision to focus on reinvestment and special dividends highlights a cautious approach in the current market environment, where M&A targets are deemed expensive and carry a high risk of write-offs. This strategy aims to optimise capital use whilst positioning the company for future growth opportunities.

As DFI Retail Group navigates these strategic decisions, the market will be closely watching its next moves, particularly in terms of reinvestment and potential dividend distributions.
“`

Retail sales in Singapore experienced a modest increase of 0.3% in April 2025 compared to the same month last year, according to the latest data released by the Singapore Department of Statistics.

When excluding motor vehicles, retail sales saw a slightly higher rise of 0.8%. Meanwhile, the food and beverage services sector reported a 1.2% increase over the same period.

“`

OCBC Bank has announced a proposal to privatise Great Eastern, offering S$30.15 per share, in an effort to resolve the trading suspension of the latter. This move, revealed on 10 June 2025, provides Great Eastern shareholders with an exit option or the alternative of resuming trading through a bonus issue.

RHB analysts suggest the exit offer is likely to be accepted due to its improved pricing, although the impact on OCBC’s financials is expected to be minimal.

The proposal aims to address the liquidity issues faced by Great Eastern’s minority shareholders, who would otherwise have to deal with limited stock liquidity if trading resumes. The offer represents a strategic decision by OCBC to streamline its operations and potentially enhance shareholder value.

The financial implications for OCBC are projected to be negligible, maintaining a neutral stance with a target price of SGD17.50 and a forecasted yield of approximately 6% for the financial year 2025. The bank’s decision reflects its ongoing efforts to optimise its investment portfolio and address market challenges.

This development is part of OCBC’s broader strategy to strengthen its market position and improve operational efficiency. The outcome of the proposal will be closely watched by investors and analysts, as it could set a precedent for similar corporate actions in the region. The decision underscores the bank’s commitment to addressing shareholder concerns whilst navigating the complexities of the current financial landscape.
“`

SGX-listed Elite UK REIT Management Pte. Ltd. has announced a fully underwritten private placement to raise at least £4m. The placement will issue new units priced between £0.295 and £0.305 to institutional and accredited investors. The proceeds will primarily finance the acquisition of three government-leased properties in the UK.

The private placement, managed by CIMB Bank Berhad, Maybank Securities Pte. Ltd., and RHB Bank Berhad, includes an option to increase the issue size by an additional £4 million, potentially raising total proceeds to £8m. The pricing represents a discount of 10% to 13% on the volume-weighted average price of £0.339 per unit on the Singapore Exchange.

The funds raised will allocate approximately £3.3m to finance the acquisition and associated costs, with £0.7m covering fees and expenses related to the placement. Any remaining funds will be used for general corporate purposes. If the Upsize Option is exercised, additional proceeds may fund future acquisitions, debt repayment, or property enhancements.

The placement aims to enhance trading liquidity and increase the number of units from 596,308,040 to 609,867,440, marking a 2.3% rise. The issuance is under a general mandate approved at the annual general meeting on 30 April 2025. Elite UK REIT will provide updates on fund utilisation through SGXNET announcements.
“`

SGX-listed Elite UK REIT Management Pte. Ltd. has announced a significant acquisition of three government-leased properties in the UK for $11.2m (£9.2m). The properties, located in Dover, Felixstowe, and Carmarthen, are expected to enhance the REIT’s counter-cyclical portfolio by providing a stable income stream backed by government tenants.

The acquisition, negotiated at a 7.6% discount to independent valuations, is set to deliver a gross rental income yield of 9.2%, surpassing the existing portfolio yield of 9.0%. The properties boast a long weighted average lease expiry (WALE) of 7.4 years, contributing to a more diversified and resilient portfolio. The acquisition will be partially funded through a private placement launched on 10 June 2025, aiming to raise at least $4.9m (£4.0m), alongside existing debt facilities and proceeds from previous divestments.

Joshua Liaw, CEO of the Manager, highlighted the strategic importance of the acquisition, stating, “The mission-critical national infrastructure to be acquired dovetails with our proposition of offering investors counter-cyclical income backed by non-discretionary assets amidst macro uncertainty.”

The properties include Priory Court in Dover and Customs House in Felixstowe, both leased to the Home Office, and Tŷ Merlin in Carmarthen, leased to the Department for Environment, Food and Rural Affairs (DEFRA). This acquisition increases Elite UK REIT’s portfolio to 151 assets, with a total valuation rising by 2.2% to $518.5m (£424.8m).

The acquisition aligns with Elite UK REIT’s strategy to reduce portfolio gearing and deliver accretive acquisitions, enhancing value for unitholders. The Manager continues to explore opportunities to optimise its asset portfolio, including potential developments in data centres and student accommodation.
“`

FairPrice Group (FPG) has announced the introduction of more than 50 new Thai food products across 87 FairPrice stores in Singapore. This expansion is part of the “I Love TH, Best of Thailand by Tops” campaign, which celebrates Singaporeans’ enthusiasm for Thai cuisine. The products, including popular snacks, condiments, and fruits, are sourced through FPG’s collaboration with Thailand’s Central Food Retail Group (CFG), a partnership formalised in September 2024.

The initiative aims to cater to the growing demand for Thai food products in Singapore, a country where Thailand remains a top holiday destination. Vipul Chawla, Group CEO of FairPrice Group, highlighted the importance of this partnership, stating, “Singaporeans have a deep love for authentic Thai cuisine, and as the nation’s largest retailer, we are committed to making things easy on the experience for our customers through our products and offerings.”

The collaboration brings CFG’s well-loved private labels, such as Snacker, My Choice Thai, and Tops, to FairPrice outlets. These labels offer a variety of products, including the Tongtin range, which features We Chips whole grain chips and DeeJai rice snacks.

Stephane Coum, CEO of Central Retail’s Food Group, expressed enthusiasm about the partnership, noting, “This allows us to share even more of Thailand’s vibrant culinary identity and quality products with Singaporean shoppers.”

As part of the campaign, FPG is also hosting a Thailand Fair from 5 to 18 June 2025, showcasing the latest Thai products across more than 100 FairPrice outlets. This initiative underscores FPG’s commitment to delivering diverse culinary experiences to its customers.
“`

Singapore’s employment landscape remains robust as the latest ManpowerGroup Employment Outlook Survey reveals a Net Employment Outlook (NEO) of 24% for Q3 2025. This marks a slight decline of 3 percentage points from the previous quarter but an improvement of 4 points compared to the same period last year. The survey, which included responses from 525 employers, highlights the resilience of Singapore’s job market amidst ongoing global trade uncertainties.

The Healthcare and Life Sciences sector continues to lead with the strongest hiring outlook, recording an NEO of 43%, despite a 6-point drop from the previous quarter. This sector has consistently ranked among the top three most competitive in Singapore since the beginning of 2025. Meanwhile, the Information Technology sector is also seeing significant activity, with 74% of companies increasing investment in automation, a trend expected to bring substantial changes to IT and data-focused roles over the next five years.

Company expansion is cited as the primary driver for staffing increases, with 43% of employers planning to hire due to growth. Conversely, economic challenges remain the top reason for workforce reductions, affecting 42% of employers. The survey also notes that global trade uncertainty is influencing hiring decisions for 69% of companies, particularly impacting the Transport, Logistics, and Automotive sector, where 81% of employers report being affected.

As Singapore navigates these challenges, the focus on automation and adapting to an ageing workforce suggests a strategic shift towards future-proofing HR strategies. With 64% of companies increasing their investment in automation, the landscape of employment in Singapore is poised for significant transformation in the coming years.
“`

The General Insurance Association of Singapore (GIA) has issued a warning to the public about a series of fraudulent phone calls from scammers impersonating its staff. These calls, originating from local mobile numbers, aim to deceive individuals by enquiring about motor accident reports or insurance transactions, often using personal details to appear legitimate.

The GIA emphasises that it does not make unsolicited calls or request sensitive information, such as financial details, over the phone. The association advises the public to treat such calls as scams and refrain from sharing personal information, sending money, or sharing device screens with unknown callers.

To combat these scams, the GIA recommends several precautionary measures:

– **ADD**: Install the ScamShield App to block calls and filter SMSes. Set transaction limits suitable for daily expenses and lower notification thresholds. Report any suspicious bank activity immediately and use the Money Lock feature to secure funds.

– **CHECK**: Verify scam signs using official sources like the ScamShield App or the 24/7 ScamShield Helpline at 1799.

– **TELL**: Inform authorities, family, and friends about any scam encounters. If victimised, contact your bank to block transactions and file a police report.

For further information on scams, the public is encouraged to visit www.scamshield.gov.sg.
“`