Market Snapshot

Singapore stocks opened higher on Monday after Trump paused tech tariffs. STI rose 2.2%; Yangzijiang Shipbuilding rose 4%; DBS and Singtel rose 3%; OCBC, SIA, and UOB rose more than 2%.

Stocks to Watch

Olam: The agribusiness giant on Monday said it expects to fund the reorganisation of its business using divestment proceeds from the sale of both its remaining 64.6 per cent Olam Agri stake as well as its assets and businesses in the remaining Olam Group. It will sell its Olam Agri stake to Saudi Agricultural and Livestock Investment Company for US$2.6 billion in two tranches, with the first tranche set to complete in Q4 of 2025, subject to shareholders’ and regulatory approvals. Shares of Olam ended Friday flat at S$0.85 before the news.

EC World Reit: The manager said in a filing on Monday that the PRC Court held that the mortgage of Fuzhou E-Commerce (FZDS) is lawful and valid. In January, the manager revealed that three properties owned by EC World Reit – Fuzhou E-Commerce, Fu Heng Warehouse and Hengde Logistics – had been mortgaged without its consent or knowledge. The loans were in connection with rescue funds provided by the Fuyang local government to Forchn Holdings, the sponsor of EC World Reit. The court’s view was that FZDS’ move was a legitimate decision made by an authorised body in accordance with the law and FZDS’ articles of association. The court found that the Fuyang Financial Institutions did not act in bad faith or collude with FZDS in the signing of the mortgage contracts. EC World Reit’s units have been suspended from trading on the Singapore Exchange since Aug 31, 2023.

SG Local News

Singapore Slashes 2025 Growth Forecast to 0-2%; Q1 GDP up 3.8% Year on Year in Q1

The Republic’s growth may be flat this year, with the official forecast downgraded to “0 to 2 per cent” for 2025, from a range of 1 to 3 per cent previously, as Singapore braces for the impact of US President Donald Trump’s “reciprocal” tariffs.

This was as the economy grew 3.8 per cent in the first quarter of 2025, slower than the 5 per cent growth recorded in the previous quarter, according to advance estimates released by the Ministry of Trade and Industry on Monday (Apr 14) morning.

This was below private-sector economists’ median expectations of 4.5 per cent growth, according to a Bloomberg poll.

MAS Eases Policy Slightly, Lowers Inflation Forecasts After Trump Tariffs Threaten Growth

The Republic’s central bank eased monetary policy settings slightly at its quarterly review on Monday (Apr 14), in a widely expected move after US tariffs raised recession fears, while also lowering its full-year inflation forecasts.

The Monetary Authority of Singapore (MAS) said the rate of appreciation will be reduced slightly for the Singapore dollar nominal effective exchange rate (S$NEER) policy band, with no change to the width of the band or the level at which it is centred.

This is as it continues with the policy of a modest and gradual appreciation, the central bank said.