SG Morning Call | Singapore Stocks Open Higher on Friday; PM Wong Crafts Budget for “More Dangerous“ World

Market Snapshot

Singapore stocks opened lower on Friday. STI fell 0.6%; Singtel and UOB fell 1%; Sembcorp and DBS fell 0.6%; OCBC fell 0.5%; iFast rose 3%.

Stocks in Focus

$iFast(AIY.SI)$: The digital bank and wealth management platform’s net profit rose 70.4 per cent to S$32.9 million for the fourth quarter ended Dec 31, 2025, up from S$19.3 million in the year-ago period. Q4 revenue rose 45.7 per cent to S$151.7 million, driven by stronger contributions from the ePension division – the group’s core wealth management platform – and its banking operations, iFast said on Thursday. The counter closed 0.7 per cent or S$0.07 lower at S$9.78 on Thursday, before the news.

$BRC Asia(BEC.SI)$: The steel fabricator logged a S$27.3 million net profit for Q1 ended Dec 31, compared with a profit after tax of S$19.5 million in the year-ago period. Revenue for the quarter rose 27 per cent on the year to S$444.3 million from S$349.8 million, said the company on Thursday. Shares of BRC Asia ended Thursday 1.9 per cent or S$0.08 higher at S$4.31, before the news.

$Lum Chang(L19.SI)$:The group on Thursday recorded a S$7.3 million net profit for the first half ended Dec 31, up 108 per cent from S$3.5 million in the previous corresponding period. Earnings per share stood at S$0.0194, an increase from S$0.0093 in H1 FY2025. Improvements in the bottom line came despite revenue slipping 8 per cent to S$220.6 million in H1 FY2026, from S$239 million in the year-ago period. Its shares closed Thursday 1.4 per cent or S$0.01 lower at S$0.71, before the news.

$Lum Chang Creations(LCC.SI)$: The restoration and interior fit-out business recorded a net profit of S$11 million for the first half ended Dec 31, up 104 per cent year on year from S$5.4 million. On Thursday, the group attributed the strong performance to improved operational execution, despite higher overheads. The counter ended 0.6 per cent or S$0.005 higher at S$0.80 on Thursday.

$Creative Technology(C76.SI)$: The home-grown electronics company posted a net loss of US$1.2 million for the six months ended Dec 31, narrowing from a loss of US$6.1 million in the year-ago period. The group on Thursday attributed the results to lower payroll and related expenses following a restructuring exercise undertaken in FY2025, which resulted in a leaner and more efficient cost structure. Creative shares closed at S$0.72 on Thursday, down 0.7 per cent or S$0.005, prior to the results announcement.

$Asti(575.SI)$; $Advanced Systems Automation(BLZ.SI)$: The Securities Investors Association (Singapore) has called on Advanced Systems Automation to clarify its pre-conditional offer for Asti shares amid governance and valuation concerns. In January, Advanced Systems Automation announced its plan to offer two of its new shares for each Asti share, at S$0.005 apiece. The offer is subject to the satisfaction or waiver of pre-conditions, including approval in-principle from the bourse. Shares of Advanced Systems Automation closed flat at S$0.005 on Thursday, before the news. Shares of Asti ended flat at S$0.033.

SG Local News

Singapore PM Wong Crafts Budget for “More Dangerous“ World

Singapore’s Prime Minister Lawrence Wong unveiled a budget he said would help the city-state thrive as it faces a “more dangerous” world, marked by technological challenges and globalization on the retreat.

In a 1.5-hour speech, Wong detailed increased funding for the nation’s priority areas such as artificial intelligence, innovation and defense, while also ramping up support for low-income households and workers, the elderly and small businesses.

“Standing still is not an option. We cannot wait for conditions to turn more favorable, nor can we fall back on strategies designed for a previous era,” Wong said in his annual budget speech in Parliament on Thursday.

The budget for the fiscal year starting April targets a surplus of S$8.5 billion ($6.7 billion), or 1% of gross domestic product, above the median estimate of 0.6% in a Bloomberg survey. To further shore up funding, Singapore will adjust its taxes on vehicles and tobacco.