Singapore stocks rose this week, with the STI up 0.19%.

In terms of individual stocks, Olam Group up 18.63%; Venture up 15.92%; Hong Leong Asia up 14%; CMS fell 4.76%; Ultragreen fell 9.59%; Bumitama Agri down 10.69%.

Olam Group Soars 18.6% Intraday on Board Appointments and Leadership Changes

Olam Group's stock surged over 18% this week, reflecting positive investor sentiment following significant corporate governance developments.

The agricultural commodities group announced several key board appointments, including naming Joerg Wolle as lead independent director and chair of the Nomination and Remuneration Committee. Additionally, Shekhar Anantharaman, the CEO of Olam's operating unit ofi, was appointed as executive director effective immediately.

These leadership changes, along with the expansion of the Audit Committee and reconstitution of other key committees, are seen as strengthening the company's governance structure and strategic oversight, which investors appear to view favorably.

Hong Leong Asia Receives In-Principle SGX Approval for 50 Million-Share Placement

Hong Leong Asia Ltd. announced that Singapore Exchange Securities Trading Limited granted in-principle approval on May, 4 2026 for the listing and quotation of 50 million new ordinary shares on the Main Board. Shares rose over 14% this week.

The new shares are to be issued via private placement at 2.90 Singapore dollars each, potentially raising about 145 million Singapore dollars before expenses.

The approval is conditional on the company meeting SGX listing requirements, providing detailed disclosures on the use of proceeds, and ensuring that the shares are not allotted to parties restricted under Rule 812(1) of the listing manual.

DBS Sells Private Credit Fund Yielding up to 20% to Rich Clients

Singapore-based firm Granite Asia has engaged the private banking arm of DBS Group Holding Ltd to raise additional capital for its first private credit vehicle, people familiar with the matter said.

Access to the fund, which reached its first close last year, was recently made available to wealthy investors via DBS Private Bank, the people said, who asked not to be identified discussing private matters. It targets an internal rate of return of about 16% to 20% per year, with investor cash yields of about 8% to 10%, according to a document seen by Bloomberg News.

Singapore Bank UOB Cites "Softer Operating Environment" as Net Profit Falls 4% on-Year

Singapore's ‌United Overseas Bank, or UOB, reported on Thursday a 4% annual fall in first-quarter net profit that, despite beating expectations, reflected the impact a precarious market backdrop and rate headwinds have ​had on the lender.

Southeast Asia's third-largest bank by assets posted declines across all ​its income segments for the January-March period, though it maintained its ⁠previous guidance for its 2026 outlook.

Net interest income fell 4% year-on-year due ​to lower benchmark rates, and net fee income eased 8% from last year's ​record high, which UOB attributed to a moderation in investment banking and loan-related activities amid cautious and risk-off market sentiment.

Singapore Bank OCBC's Q1 Profit Rises 5%, Beats Estimates

Singapore's second largest bank, Oversea-Chinese Banking Corp (OCBC), reported on Friday a 5% rise in first-quarter net profit, driven by growth in its wealth management business.

OCBC, which is also Southeast Asia's second-largest lender by assets, said January-March net profit climbed to S$1.97 billion ($1.55 billion) from S$1.88 billion a year earlier.

This beat the mean estimate of around S$1.89 billion from three analysts surveyed by LSEG.