SG Morning Call | STI Opens 0.12% Lower; Thomson Medical, Venture, First Resources, OUEREIT, Kep Infra Tr up Around 1%
Market Snapshot
Singapore stocks opened lower on Monday. STI fell 0.12%; Thomson Medical, Venture, First Resources, OUEREIT, Kep Infra Tr up around 1%.
Stocks in Focus
$Great Eastern(G07.SI)$: For 118 years, Great Eastern has been a reliable fixture for ordinary Singaporeans. It is the pioneer of the domestic insurance scene, covering everything from basic health to critical illness plans. Now, the insurer has decided it is time to focus on the wealthy. Since the current leadership took the reins about a year-and-a-half ago, the mandate from the top has been clear: grow and transform.
$Info-Tech(ITS.SI)$: Info-Tech Systems, a software as a service (SaaS) player, sees future growth coming from customers’ overseas expansion. As well, it aims to add to its suite of software products while growing in its existing markets.
The pure-play software provider targeted at small and medium enterprises (SMEs) operates a recurring subscription revenue model for human resource management system (HRMS), accounting and customer relationship management software services.
SG Local News
Singapore Cements Position as Asia-Pacific Wealth Hub as Region’S AUM Set to Hit US$34.5 Trillion by 2030: PwC
The Republic is strengthening its place as Asia-Pacific’s leading wealth hub as assets under management (AUM) in the region are set to reach US$34.5 trillion by 2030.
In its Asset and Wealth Management Revolution: Asia Pacific 2026 report, PwC said the region’s AUM will grow at a 6.8 per cent compound annual growth rate (CAGR), outpacing North America (6.2 per cent) and Europe counterparts (5.6 per cent).
Total client assets are forecast to rise from US$107.2 trillion in 2024 to US$154.3 trillion by 2030.
US Startup Databricks to Raise Singapore Headcount by up to 50% as AI Demand Grows
US startup Databricks plans to increase its Singapore headcount by up to 50 per cent over the next year as it rolls out new artificial intelligence products and expands, thanks to growing enterprise demand.
The data management and AI company currently has more than 250 employees in Singapore – which serves as its headquarters for Asia-Pacific and Japan – out of a regional workforce of more than 1,500.
It is already actively hiring for more than 50 new roles in the Republic, said Arsalan Tavakoli-Shiraji, senior vice-president of field engineering and one of Databricks’ seven co-founders.
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