SG Morning Call | Singapore Stocks Open Higher; Diesel Price Spikes Fuel Concerns Over Higher Business Costs, Consumer Prices
Market Snapshot
Singapore stocks opened Higher on Monday. STI rose 0.2%; U11 rose 1.3%; O39 rose 0.8%; G13 rose 0.8%
Stocks in Focus
$Centurion(OU8.SI)$: The group has entered into a sale and purchase agreement to acquire Yan Woo Building in North Point, Hong Kong, for HK$364 million (US$46.4 million), it announced on Friday. Shares of Centurion ended flat at S$1.48 on Friday, before the announcement.
$Oiltek(HQU.SI)$: The company on Monday said it had submitted an application for its proposed secondary listing on the Bursa Malaysia on Sep 25. The final structure, size and issue/offer price of the proposed offering will be determined at a later date, it noted, and will be announced in due course. The counter ended 1.6 per cent or S$0.02 higher at S$1.25 on Friday.
$Geo Energy Res(RE4.SI)$: The group on Monday said it expects to report a “substantial improvement in its business operations” and significant increase in its sales volume and net profit of the company for its third quarter ending Sep 30, compared with the same period a year prior. This comes amid higher sales volumes, combined with higher selling prices and significant logistics cost savings. The company also expects coal production and sales to increase further in Q4. The counter ended 0.9 per cent or S$0.005 higher at S$0.565 on Friday.
SG Local News
Diesel price spikes fuel concerns over higher business costs, consumer prices
Diesel prices in Singapore have recently spiked, and industry players warned that higher transportation and logistics expenses could drive up the cost of doing business as well as the prices of goods in Singapore.
Energy and commodity market intelligence provider Argus indicated that Singapore gasoil prices have reversed from the downward trend seen from March to June this year. It climbed to a recent high of US$210 per barrel on Sep 16, up from US$111.75 per barrel on Jun 26.
Woh Hup to build Las Vegas Sands’ new Marina Bay project
Home-grown construction giant Woh Hup has been awarded a “multi-billion-dollar contract” to build Las Vegas Sands’ new US$8 billion resort and entertainment complex in Marina Bay.
The luxury development located next to Marina Bay Sands (MBS) comprises a 55-storey tower with 570 luxury hotel suites, a casino, a 15,000-seat entertainment arena, 200,000 sq ft of meeting and convention space and numerous high-end restaurants.
Las Vegas Sands said that following a competitive and comprehensive tender process, Woh Hup was selected for its strong technical capabilities, proven track record in complex projects, and depth in engineering and design management.
Woh Hup, one of Singapore’s largest privately owned construction and civil engineering companies, is known for having built icons such as Jewel Changi Airport and Gardens by the Bay. In the Marina Bay district, its previous projects include Marina Bay Residences and W Residences Marina View.
Spot electricity prices have hit a 2026 high
Wholesale electricity prices in Singapore have been climbing in recent weeks as the conflict in the Middle East continues to cause volatility in the price of natural gas used by power generation companies to produce electricity.
The weekly Uniform Singapore Energy Price (USEP), a measure of the wholesale cost of electricity, hit $486.21 per megawatt-hour (MWh) in the week of Sept 13 to 19 – the highest level so far in 2026.
$(STI.SI)$ $(OU8.SI)$ $(RE4.SI)$ $(HQU.SI)$ $SS SPDR STI ETF(ES3.SI)$ $Amova STI ETF S$D(G3B.SI)$ $Amova STI ETF S$A(GAB.SI)$Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
