Singapore’s equity market continues to showcase depth and dynamism, with activity spanning established REITs, emerging mid-cap stocks, and fresh listings.
This week saw Lendlease Global Commercial REIT (SGX: JYEU) strengthen its retail portfolio with a significant mall acquisition, whilst the newly launched iEdge Singapore Next 50 Index demonstrated robust performance in the second half of 2025.
Meanwhile, Sheng Siong Group (SGX: OV8) delivered another quarter of solid growth, and co-living operator Coliwoo Holdings (SGX: W8W) made an encouraging debut on the SGX Mainboard.
It’s also earnings week, and we’ve got you covered with fresh breakdowns of the big three Singapore banks – DBS, UOB and OCBC – as they report their latest quarterly numbers.
Lendlease Global Commercial REIT acquires 70% stake in PLQ Mall
Lendlease Global Commercial REIT (LReit) announced the acquisition of a 70% indirect stake in PLQ Mall for S$246.8 million, with the property valued at S$885 million.
The vendor is understood to be Abu Dhabi Investment Authority.
The acquisition, representing a 2.1% discount to the appraised value, will be fully funded through a S$280 million private placement that was heavily oversubscribed and upsized from the initial S$270 million.
Upon completion, LREIT’s total asset value will increase to S$3.9 billion, with Singapore representing 89% of the portfolio.
The transaction is expected to increase distribution per unit by 2.5% on a pro forma basis, whilst maintaining gearing at 38.3%.
PLQ Mall, opened in 2019, features over 200 retail, dining and entertainment outlets and is situated atop both the Circle Line and East-West Line MRT stations at Paya Lebar Quarter.
iEdge Singapore Next 50 Index posts 18% total return
The newly launched iEdge Singapore Next 50 Index has posted an 18% total return in the second half of 2025 to 4 November, demonstrating strong momentum amongst mid-cap stocks.
The index tracks the next 50 largest companies on SGX Mainboard after excluding the top 30 by market capitalisation, with a combined market capitalisation of S$88 billion.
Average daily turnover has surged to S$165 million year-to-date, up from S$107 million in 2024, supported by higher trading activity in stocks such as PropNex, Hong Leong Asia, China Sunsine, UOB-Kay Hian and Banyan Tree.
The index comprises two variants: one weighted by market capitalisation and another by liquidity.
Introduced under SGX Group’s Equity Market Development Programme, the indices aim to enhance market depth and investor engagement by spotlighting companies poised to graduate into Singapore’s main benchmark indices.
Sheng Siong Group reports 12% profit growth
Sheng Shiong reported robust third quarter fiscal 2025 (3QFY2025) earnings, with revenue rising 14.4% year on year (YoY) to S$415.5 million and net profit climbing 12.0% YoY to S$43.8 million.
For the nine months ended 30 September 2025 (9MFY2025), earnings grew 6.5% YoY to S$116.1 million.
The supermarket operator’s gross profit margin improved marginally by 0.2 percentage points to 31.5%, attributed to continual improvements in the sales mix whilst navigating rising operational costs.
The group opened four stores in 3QFY2025 and another in October, raising the total number of stores in Singapore to 85.
Cash flow from operating activities surged 50.6% YoY to S$89.0 million, supported by higher profits and favourable working capital changes.
The retailer ended the quarter with S$393.7 million in cash and cash equivalents as of 30 September 2025.
Coliwoo debuts 2.5% above IPO price
Co-living operator Coliwoo Holdings made a successful debut on the SGX Mainboard on 6 November 2025, with shares opening at S$0.615, representing a 2.5% premium to the initial public offering price of S$0.60.
The IPO was heavily oversubscribed, with the public offer receiving 20.7 times subscription and placement shares garnering 7.3 times subscription, raising total gross proceeds of S$101 million.
The offering drew strong support from nine cornerstone investors who collectively subscribed for S$52.8 million worth of shares, including UOB Asset Management, Value Partners Hong Kong, Maybank Asset Management and Avanda Investment Management.
Established in 2018, Coliwoo operates approximately 3,000 rooms across 25 locations in Singapore and holds a 19.5% market share in the city-state’s co-living sector.
The company plans to expand its portfolio to nearly 4,000 rooms by end-2026 and intends to distribute dividends of not less than 40% of earnings for FY2025 and FY2026.
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