HG Metal Manufacturing has signed a subscription agreement to purchase 18 million Class B Preference Shares in Eden Flame at RM1 per share, totaling RM18 million (approximately $5.68 million). Eden Flame, a Malaysian steel manufacturer, operates a plant in Pasir Gudang, Johor Bahru, with operations expected to begin by Q3 2026. The company specializes in low-carbon electric arc furnace steel production. The facility is projected to have an annual capacity of around 500,000 metric tonnes, initially focusing on 10mm–40mm rebars—a high-demand product segment in Southeast Asia. The total consideration of RM18 million will be paid in two tranches: RM9 million upon completion and the remaining RM9 million as call notices are issued post-completion. The subscription's closing date will be mutuall

ComfortDelGro announced on Dec 10 that it has obtained the Milestone 1 (M1) license for autonomous vehicle (AV) testing on public roads. The license allows ComfortDelGro's AVs to begin trials on its designated Punggol route. On Sept 20, the company revealed plans to launch its autonomous shuttle service, Zig Driverless, in Punggol later this year. The service is being developed in collaboration with Chinese technology firm Pony.ai. In August 2024, ComfortDelGro signed a memorandum of understanding (MOU) with Pony.ai to explore robotaxi commercialization in China. The company plans to conduct trials in the first quarter of 2026, with passenger services to follow after mapping and live road testing are completed. "Successfully passing the CETRAN Milestone 1 assessment demonstrates our commit

Ever Glory United is launching a public offering of up to 2 million new shares at 64 cents per share as part of its planned transfer to the Mainboard of the SGX. The offering price reflects a 9.1% discount to the volume-weighted average price of 70.4 cents recorded on December 9. If all 2 million shares are issued, they will account for approximately 0.52% of the company's enlarged issued and paid-up share capital. The public offering is aimed at fulfilling the SGX-ST listing rule requiring a minimum of 500 shareholders. Net proceeds from the offering are expected to reach $1.15 million, which will be allocated for working capital purposes. Ever Glory United submitted its application to transfer from Catalist to the Mainboard on October 14, having already met the $150 million market capita

International Maritime Industries (IMI), the largest shipyard in the Middle East and North Africa (MENA) region, has awarded Seatrium Offshore Technology, a subsidiary of Seatrium Ltd, a repeat contract for a jack-up rig. Similar to the Kingdom 3 contract awarded earlier this year, Seatrium will provide equipment and licensing for a LeTourneau Super 116E Class Self-Elevating Drilling Unit (SE-MODU), to be named Kingdom 4. The LeTourneau Super 116E Class, part of Seatrium’s next-generation jack-up rig designs, is customized for operational needs in the MENA region. Featuring 343-foot (104.5 m) legs, a 1.5-million-pound (680,000 kg) hook load capacity, and advanced cyber systems, these rigs are engineered to operate in harsh offshore conditions. The Kingdom 4 contract marks the 45th order fo

CapitaLand Investment (CLI) has successfully closed its second onshore sub-fund, China Retail RMB Fund I (CRF I), under the CLI RMB Master Fund. In addition to the equity commitment from the Master Fund, CLI has secured investments from several onshore institutional investors, bringing the total fund size to RMB1 billion (US$183 million). Upon full deployment, CRF I is expected to contribute RMB1.48 billion to CLI’s funds under management (FUM). With this closing announced on December 11, CLI has raised nearly RMB55 billion in domestic capital across nine onshore funds since 2021, demonstrating strong investor demand. As part of the transaction, CLI will recapitalize CapitaMall Xinduxin by selling it as the seed asset to CRF I. Located in Qingdao’s Shibei District, the retail property span

Keppel REIT is purchasing a one-third stake in Marina Bay Financial Centre (MBFC) Tower 3 for $937.5 million, a deal that appears to dilute its distribution per unit (DPU). The acquisition price is based on an agreed property valuation of $1.453 billion, or $3,268 per square foot, valuing the entire asset at approximately $4.36 billion. The seller, Sageland Private, is a subsidiary of Hongkong Land Holdings. The agreed valuation reflects a 1.0% discount to the property’s independent appraisal of $1.467 billion. Upon completion, Keppel REIT will hold a two-thirds stake in MBFC Tower 3. The remaining $529.5 million gap between the purchase price and valuation is expected to be covered by debt rollover. DPU dilution is estimated at 6.4% if the blended debt interest cost is 3.3% annually, or 3

Golden Agri-Resources, Yangzijiang Maritime Development, and Centurion Accommodation REIT have been added to the iEdge Singapore Next 50 Index as part of the December quarterly review. The three companies replace Nanofilm Technologies International, Samudera Shipping Line, and Aztech Global in the index. Launched by the Singapore Exchange in September, the iEdge Singapore Next 50 Index aims to foster a more dynamic stock market ecosystem. The index selection criteria include free-float adjustments, market capitalization, and liquidity to identify sizable and tradable companies. It is available in two variants: one weighted by market capitalization and another by liquidity. The next review of the iEdge Singapore Next 50 Index is scheduled for March 2026.

The Trendlines Group has finalized a subscription agreement with 11 investors, issuing 51,447,751 new ordinary shares at 6.666 cents per share. The transaction will generate gross proceeds of approximately $3.42 million. The subscription is not underwritten, and no placement agent was appointed. The investors were introduced through a business contact of the company. The subscribers include Khoo Thomas Clive, Tan San-Ju, Lee Oon Gim, Chia Soon Joo, Choo Chiau Beng, Wong Hong Eng, Ng Hwee Min, Seow Chuan Bin, Chan Siew Yin, Tan Poh Lee, and Teo Zheng Long. Upon completion, their respective stakes in the enlarged share capital will range from 0.05% to 1.04%. Khoo Thomas Clive, an existing Trendlines shareholder, also holds substantial stakes in Zixin Group, TOTM Technologies, and SHS Holding

Hsieh Fu Hua, lead independent director of newly-listed UltraGreen.ai, purchased 180,000 shares from the open market on Dec 9 at US$1.39 per share. Hsieh, a former CEO of SGX, previously held no shares in UltraGreen.ai, which were priced at US$1.45 each during its recent IPO. UltraGreen.ai began trading on Dec 3, initially surging to US$1.62 before declining to a low of US$1.31 on Dec 8. The stock rebounded slightly to close at US$1.42 on Dec 9. Meanwhile, Citibank, the listing manager, acquired 2.65 million shares on Dec 9 under its post-IPO stabilization mandate, paying between US$1.37 and US$1.42 per share. On Dec 8, amid heightened selling pressure, Citibank purchased 6 million shares at prices ranging from US$1.31 to US$1.45 each. Earlier, on Dec 4 and 5, Citibank bought 1.82 million

UltraGreen.ai's stock soared up to 12% during its Wednesday trading debut following an IPO that marked Singapore's largest non-property offering since 2017. The surgical imaging technology firm priced shares at $1.45 each, raising $400 million in its market debut. Shares settled with a 4.8% gain by closing. UOB Kay Hian initiated coverage with a buy rating and $2 price target, citing robust profit growth potential from enhanced pricing power and geographic expansion. UltraGreen's listing breaks the mold in Singapore's REIT-dominated market, where property trusts account for approximately 10% of exchange capitalization. The debut coincides with Singapore's push to revitalize IPO activity after years of subdued offerings. Singapore IPOs have generated $1.9 billion in proceeds this year, pote