Stocks to watch: OCBC, Singtel, Wilmar, Food Empire, Telechoice
OCBC , Singtel : The bank will partner the three local universities on research to develop quantum technology applications in derivative pricing, fraud detection and data security. On Thursday, it inked 12-month long collaboration agreements with the National University of Singapore, Singapore Management University and Nanyang Technological University. It is also working with Singtel and the Monetary Authority of Singapore to explore the application of quantum key distribution. Shares of OCBC finished Thursday S$0.12 or 0.7 per cent higher at S$17.08; shares of Singtel closed 3 per cent or S$0.12 higher at S$4.17.
Wilmar International : It has agreed to acquire up to 20 per cent of the shares held by India's Adani Commodities in a joint venture (JV) between the two companies. This comes as Adani Commodities announced its exit from the JV in December 2024. For 275 rupees per share, Wilmar's wholly owned unit Lence will buy a maximum of 259.9 million shares in the Mumbai-listed JV, AWL Agri Business, which was formerly known as Adani Wilmar. Wilmar shares on the Singapore bourse ended Thursday at S$2.99, up 0.7 per cent or S$0.02.
Food Empire : The group on Friday announced its partnership with Santan Food Services to co-develop and launch a new range of ready-to-drink beverages. The collaboration will kick off with a Vietnamese iced coffee product, set to be sold on AirAsia flights and through retail channels across the region. It paves the way for Food Empire and Santan to explore further co-branded and private label initiatives across a wider range of beverages and snack products, said Food Empire. Santan is a brand under AirAsia's non-airline subsidiary, RedBeat Ventures. The counter finished Thursday 5.5 per cent or S$0.11 higher at S$2.12.
Telechoice International : The telco services company will exit the Singapore Exchange (SGX) watch list with effect from Friday. Its application to be removed from the list received SGX's in-principle approval, it said in a Friday bourse filing. The company was placed on the watch list in December 2023, after four consecutive years of losses. The counter ended Thursday flat at S$0.15.
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Straits Times
3 hours ago
- Straits Times
$1.1 billion allocated to three fund managers to boost Singapore stock market: MAS
Find out what's new on ST website and app. The $1.1 billion forms part of the $5 billion set aside under the Equity Market Development Programme announced by MAS in February. SINGAPORE - An initial $1.1 billion will be allocated to three asset managers to invest in the Singapore stock market, in a move aimed at deepening market liquidity, the Monetary Authority of Singapore (MAS) said on July 21. The three fund managers are Avanda Investment Management, Fullerton Fund Management and JP Morgan Asset Management. The $1.1 billion forms part of the $5 billion set aside under the Equity Market Development Programme announced by MAS in February, aimed at boosting SGX-listed stocks and revitalising Singapore's stock market. The programme will allocate capital to a range of funds managed by local as well as foreign fund managers based in Singapore. Eligible fund strategies include those focused on Singapore equities, or with a significant allocation to them as part of regional or thematic portfolios. The three fund managers were selected based on how well their proposed fund strategies align with the programme's objectives, as well as the strength of their plans to draw third-party capital into their strategies alongside MAS' funding. They were also chosen for their commitments to 'expand or contribute to the growth of the asset management and research capabilities in Singapore', MAS added. 'In particular, the fund strategies should have a clear focus on improving liquidity and broadening participation in Singapore equities, with significant allocation to small and mid-cap stocks,' it noted. Top stories Swipe. Select. Stay informed. Singapore Risk of flash floods in parts of central and eastern Singapore: PUB Singapore Malaysia-bound motorists urged to avoid Tuas Second Link on July 23 due to chemical spill exercise Singapore Trial of new dengue vaccine begins recruitment for child participants in Singapore Singapore Witness stand not arena for humiliation in sex offence cases, judge reminds lawyers Singapore Fresh charge for woman who harassed nurse during pandemic, created ruckus at lion dance competition Asia Japan PM Ishiba under siege after ruling coalition loses Upper House majority Business Bigger, quieter, greener: High-volume low-speed fans see rising demand in warming Singapore 'By investing with a broad range of fund managers employing varied strategies, the programme can leverage their distinct investment expertise and distribution networks to attract commercial capital and strengthen market vibrancy,' MAS said. The asset managers under the programme are responsible for day-to-day investment and portfolio management decisions. MAS said it does not guarantee their investment performance. MAS said that it has received interest from over 100 global, regional and local asset managers, and that it is reviewing the submissions in batches to speed up the appointment of more asset managers and the process of capital deployment. The next batch of fund managers is expected to be announced by the fourth quarter of 2025. MAS deputy chairman Chee Hong Tat told the media that it is not just about injecting funds into the Singapore market, but developing the fund management industry. Mr Chee, who is also Minister for National Development, said: 'At the same time, we also want these asset managers to be able to crowd in private capital, and to be able to then promote greater interest liquidity into Singapore equities, especially our small-to-mid cap companies.' Enhance investor protection Additional measures to strengthen investor protection were also announced as part of the shift towards a more disclosure-based regulatory regime. 'Investors should be able to seek civil recourse should there be losses suffered due to market misconduct,' MAS said, adding Hence, facilitating investors in seeking civil recourse is important to bolstering confidence and upholding the reputation of Singapore's capital markets, it noted. Mr Chee added that there has been feedback from investors that they face barriers in seeking recourse through civil action, and that it may take too long and may be difficult to organise ground efforts. He added: 'The proposals that we are putting out for public consultation seek to strike a balance between lowering the barriers and making it easier for investors to seek recourse in genuine cases, versus avoiding overly litigious operating environment where we have a lot of lawsuits.' MAS deputy chairman Chee Hong Tat told the media that it is not just about injecting funds into the Singapore market, but developing the fund management industry. PHOTO: LIANHE ZAOBAO MAS said it will consult on proposals to enhance current legal provisions that can allow investors to ride on a court action or civil penalty to seek compensation. It will also consider proposals to allow designated representatives to organise and initiate legal action on behalf of investors. This is intended to facilitate not-for-profit assistance for investors, including by bodies like the Securities Investors Association Singapore, or Sias. MAS will consult on establishing a grant scheme to help cover the costs of organising investors and pursuing legal action in cases of market misconduct. Mr David Gerald, president of Sias, said that MAS' announcement of new investor recourse avenues is good news for retail investors and will be hugely beneficial for capital markets. 'Capital markets should not be litigious and courtroom resolution should always be the last resort. Sias strives to resolve company disputes in the boardroom amicably in a tripartite manner, working closely with the boards and senior managers, as well as regulators, to achieve the best desirable outcome for all parties,' he said. He added that MAS' support to lower the cost of investor recourse will increase investor confidence in Singapore. Strengthen equity research MAS will set aside $50 million over the next three years to strengthen equity research and listing support. This will be used to enhance the Grant for Equity Market Singapore scheme (Gems), which helps to boost the equity research ecosystem. The scheme, which previously was valid till Dec 31, 2026, will be extended till Dec 31, 2028. Equity research can facilitate price discovery and fair valuation of companies, allowing investors to make informed and timely decisions, MAS said. 'Industry feedback has indicated that research coverage, particularly in the small and mid-cap segment, could be improved,' it noted. 'More efforts can also be made to engage younger investors through digital media channels, and to expand upstream research coverage of pre-IPO companies to support potential IPOs.' MAS will also enhance the research development grant under Gems. It will provide additional funding of $1,000 for each research report, with a further $1,000 if the report initiates research coverage or covers pre-IPO stage and newly-listed companies. This means the current maximum funding of $4,000 can go up to $6,000 per research report. 'This enhanced funding aims to boost investor awareness and trading interest in under-researched segments, particularly small- and mid-cap enterprises,' MAS said. There will also be new grant funding for research houses to defray costs of disseminating their research. MAS will also provide new funding to support research on private companies with strong local presence. Those seeking funding for research on such companies may submit proposals to MAS. In addition, the listing grant under Gems will be expanded to enhance product diversity and trading liquidity. The overall funding per primary listed exchange-traded fund (ETF) will be increased from $100,000 to $250,000. A new funding sleeve will also support cross-listed and feeder ETFs, with $180,000 per listing. 'This will facilitate more ETF listings in Singapore, adding to the range of listed investment products to provide more investor choice,' MAS said. There will also be a new funding sleeve to provide $40,000 per depository receipt issuance, to cover Singapore depository receipts and foreign depository receipts with underlying Singapore stocks. Mr Chee said: 'We do want to see more participation from retail investors, not to see the stock market as short term punts, but really how to make longer term investments, to grow their investment nest egg, which I think will also be helpful for the young and the middle aged before they grow older, to provide better retirement adequacy.' Looking ahead, other enhancements to boost the Singapore market are also being studied, Mr Chee noted. These include ways for companies to engage shareholders better, enhancing the attractiveness of the Catalist board as a platform for fundraising, and promoting retail investor participation in the market.
Business Times
4 hours ago
- Business Times
SIA, Singtel and more: Singapore's top AI adopters could drive 3% GDP growth, says Morgan Stanley
[SINGAPORE] The Republic can sustain a 3 per cent gross domestic product growth rate, thanks to innovation and productivity gains from artificial intelligence (AI) tools, according to research from Morgan Stanley. That growth rate would mean Singapore would remain as one of the fastest-growing developed economies in the world. The country, which has a population of 6.04 million, had most economists forecasting a growth rate of 0 to 2 per cent after the second-quarter GDP was higher than expected. It previously had an official forecast downgraded to 0 to 2 per cent for 2025 from a range of 1 to 3 per cent. It had 4.4 per cent GDP growth in 2024 and 4.2 per cent year-on-year growth in the first half of 2025. The city-state is one of the top AI markets globally relative to its size, aided by an AI-development friendly ecosystem built by the government. It is ranked in the top 10 across multiple indices, such as the Stanford Global AI Vibrancy Index. Based on Morgan Stanley's survey results, published on Thursday (Jul 17), over 70 per cent of companies have adopted AI. Top use cases found were labour savings, product development and supply-chain efficiencies. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Singapore is home to more than 80 active AI research faculties, 150 AI research and development and product teams, and over 1,000 AI startups, said the report. The country has attracted 'strong' industry participation in generative AI (GenAI), especially in 2025. Salesforce pledged a US$1 billion investment across the next five years in an AI push, with its flagship AI offering Agentforce able to help quickly expand Singapore's labour force amid its ageing population and birth-rate struggles. Meanwhile, Oracle launched an AI Centre of Excellence, aiming to provide training to upskill students and professionals in cloud-based and AI technologies and experimentation for organisations to test early AI innovations. Which companies are major enablers of AI, and which are adopting the technology? Here's what Morgan Stanley says. Enablers and adopters: Singtel, Grab and more Singtel was identified as a top AI enabler, through its infrastructure push. The telecommunications company has been expanding its data centre capacity in Singapore and the construction of Nvidia's accelerated AI factories in South-east Asia. Morgan Stanley estimates an excess of 200 megawatts of operational capacity by 2026. Asset manager and operator Keppel is set to be one of the key beneficiaries due to its experience in 'integrated solutions providing power, connectivity, data centres and decarbonisation for customers'. Sembcorp Industries is also set to enjoy gains through its power and natural gas provision, and is 'leveraging this opportunity to compound earnings' and top-quartile returns on equity. Morgan Stanley estimates higher energy prices, owing to high demand for European gas, will lead to higher profits for Sembcorp. In terms of AI adopters, Grab was flagged as a significant driver of technological innovation in the Asean region, including Singapore. The company has over 1,000 AI models and launched a centre for AI excellence in May. It also has been a key enabler for autonomous vehicle adoption. Morgan Stanley stated that Grab's lead in AI adoption will 'ultimately drive more efficient and profitable growth while strengthening its market leadership in the region'. Sea, Singapore Airlines (SIA) and ST Engineering were also named as 'significant drivers' of technological innovation, particularly in the AI space. Sea has adopted AI for consumer-facing and internal uses, boosting gross merchandise value by improving recommendation accuracy and improving purchase conversion rates. It was deemed a 'top pick' in the Asian e-commerce sector. Flag carrier SIA has been using GenAI for operational efficiency improvements. It implemented Jarvis, a GenAI tool to improve staff productivity, and a GenAI-powered training tool. In March, it announced a collaboration with Salesforce for AI-powered customer-facing applications, and to develop AI solutions for airlines at a Singapore research hub. Finally, ST Engineering is adopting AI to drive growth and is expected to more than double its digital business revenue to S$1.3 billion by the end of 2029, from about S$600 million in 2024. It is developing AI infrastructure and projects for defence, commercial aerospace and smart-city purposes.
Independent Singapore
6 hours ago
- Independent Singapore
AI could help Singapore sustain 3% annual GDP growth despite ageing population: Morgan Stanley
Photo: Freepik/frimufilms SINGAPORE: Artificial intelligence (AI) could help Singapore maintain annual GDP growth of 3% over the long term, even as it faces the structural challenge of a shrinking workforce, according to a new report by Morgan Stanley Research. Released this month, the report points to AI as a pivotal force for sustaining national productivity and ensuring Singapore remains one of the fastest-growing developed economies. 'Singapore's deliberate and coordinated approach to AI is beginning to bear fruit,' the report said, noting that more than 70% of companies covered in the study have already implemented AI technologies in some form. AI adoption is strongest in four main areas: internal productivity tools, customer-facing services, supply chain optimisation, and product development. These technologies, the report suggests, are helping firms automate repetitive tasks, improve customer experience, and make better, data-driven decisions. The report categorises companies into two broad groups. First are the 'AI Enablers' or firms like Singtel, Keppel, and Sembcorp Industries which are building the infrastructure necessary for widespread AI deployment, such as next-generation data centres, energy systems, and high-speed connectivity networks. The other group are the 'AI Adopters' such as Grab, Sea Group, Singapore Airlines, and ST Engineering, which are applying AI to sharpen operations and drive innovation. While most companies surveyed remain cautious about attaching hard numbers to the financial returns of AI investment, some reported early signs of growth in earnings and capital expenditure. Despite this, the report flagged several risks on the horizon such as cybersecurity, AI misuse, and workforce disruption. 'The need to retrain and upskill workers will be essential,' the report read, highlighting government programmes like SkillsFuture that aim to bridge emerging skill gaps. Morgan Stanley also described Singapore's approach as a potential model for other small, advanced economies navigating similar demographic and technological shifts. 'Singapore shows how strategic planning and cross-sector commitment can enable a country to integrate emerging technologies and turn structural challenges into growth opportunities,' the report noted. () => { const trigger = if ('IntersectionObserver' in window && trigger) { const observer = new IntersectionObserver((entries, observer) => { => { if ( { lazyLoader(); // You should define lazyLoader() elsewhere or inline here // Run once } }); }, { rootMargin: '800px', threshold: 0.1 }); } else { // Fallback setTimeout(lazyLoader, 3000); } });
