From explosive earnings in the software sector to a high-stakes retail defense strategy, this week’s market was a whirlwind of activity.
We’re diving into how Frasers Centrepoint Trust plans to keep shoppers local despite the new RTS Link, the massive profit surge at Info-Tech Systems, and what Toku’s IPO means for Singapore’s tech scene.
Plus, we break down the “Trump Rebound” that sent Asian markets into a green-tinted frenzy.
FCT’s Northern Defense Strategy
Frasers Centrepoint Trust (SGX: FCT) is moving proactively to address unitholder anxiety regarding the upcoming Johor-Singapore Rapid Transit System (RTS) Link.
While there are fears of a retail “leakage” as shoppers head north for better deals, a CBRE study commissioned by the REIT suggests the impact may be more contained than feared, with leakage projected to rise only slightly from 4% today to 5% by 2032.
FCT’s counter-offensive hinges on the massive transformation of Northern Singapore.
With the Woodlands Regional Centre expected to add 100,000 jobs and the local population set to surge by over 25%, the REIT is pivoting Causeway Point toward essential services and international fashion – categories that are less vulnerable to cross-border competition.
By swiftly replacing exiting tenants like Cathay Cineplexes, FCT is demonstrating the resilience of its “suburban moat” strategy.
Profit Surge at Info-Tech Systems
Investors in Info-Tech Systems (SGX: ITS) enjoyed a windfall this week as shares jumped 10.5% to S$0.84.
The rally was sparked by robust profit guidance for FY2025, marking the stock’s highest level in two months.
While the counter still sits slightly below its S$0.87 IPO price, the business fundamentals appear to be accelerating.
The software provider expects a “considerable increase” in net profit, driven by a surge in its academy training revenue during the latter half of the year.
This high-growth segment, paired with the steady, recurring income from its core HR management and accounting software divisions, suggests that the company is successfully scaling its ecosystem beyond just its initial product offerings.
Toku’s 6% IPO Pop
Singapore’s second listing of 2026, Toku Ltd (SGX: TKU), made a positive debut on the Catalist board.
The AI-powered customer experience platform opened at S$0.265 — a 6% premium over its IPO price –giving the company a market capitalization of roughly S$142.6 million.
Toku’s trajectory is a classic “growth-stage” story: while revenue has climbed impressively from US$21.6 million in FY2022 to US$31.8 million in FY2024, losses have widened in tandem.
With S$16.3 million in fresh capital now at its disposal, the company is focused on scaling its AI tech and pursuing strategic acquisitions.
For investors, the key will be watching how quickly Toku can translate its growing regional footprint into a sustainable path toward profitability.
Relief Rally as Tariffs Retreat
The Straits Times Index (SGX: ^STI) joined a sea of green across Asian markets, climbing 0.6% after President Trump de-escalated trade tensions.
The catalyst was a framework agreement regarding Greenland, which prompted a retreat from the additional tariffs previously scheduled for February.
Local heavyweight United Overseas Bank (SGX: U11) led the charge with a 2% gain, while regional sentiment was even more exuberant; South Korea’s Kospi briefly touched the historic 5,000-point milestone.
As the “tariff risk” premium evaporated, investors rotated out of safe havens, causing gold to slip toward the US$4,785 mark.
This week served as a sharp reminder of how sensitive the STI remains to shifts in U.S. trade rhetoric.
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