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Independent Singapore
3 days ago
- Business
- Independent Singapore
Centurion's REIT listing signals hope for Singapore IPOs
SINGAPORE: Singapore-based Centurion Corporation announced plans to list a Real Estate Investment Trust (REIT) on the Singapore Exchange (SGX) Mainboard on June 11. This can catalyse more initial public offerings (IPOs) in Singapore's stagnant share market. Subsequent to the announcement, Centurion's shares rose 3.4% to S$1.53 on June 11, a record high. About 2.4 million shares of the company changed hands, indicating strong investor interest. The SGX and the Monetary Authority of Singapore (MAS) are currently reviewing Centurion's submissions. The decision to list the REIT comes amid MAS efforts to boost share sales and liquidity in Singapore's equity market. The proposed REIT is backed by DBS Group and UBS. It has a portfolio of 37 accommodation assets, which includes 69,929 beds as of March 31, 2025. Focused on student and worker housing, it aims to capitalise on Singapore's infrastructure growth and the post-pandemic surge in student enrollment. At present, MAS is leading efforts to revive Singapore's equity market. The stock market has encountered issues like low liquidity and a high number of delistings (20 in 2024 compared to four IPOs). There is also an ongoing undervaluation of small- and mid-cap stocks. In February 2025, MAS's Equities Market Review Group, chaired by Minister Chee Hong Tat, launched a S$5 billion Equity Market Development Programme (EQDP). Seeking to boost liquidity and attract growth enterprises, it's among the different measures meant to bring firms back to Singapore's stock market. Singapore has the third-largest REIT market worldwide, after Tokyo and New York, with 40 S-REITs and property trusts. Together, they have a market capitalisation of about S$100 billion (US$74 billion). This accounts for 12% of SGX's total market cap. If successful, Centurion's REIT listing could pave the way for more listings, joining NTT's proposed data centre REIT listing. If both go through, they are likely to revive investor confidence and share trading in the Singapore market. The city-state's equity capital markets struggle with a lack of domestic capital anchors. In comparison, the bourses of Hong Kong, Sydney, Tokyo, and Kuala Lumpur are anchored allocations to domestic equities from public sector investors. Pension funds in Kuala Lumpur, Tokyo, and Hong Kong actively channel capital into local equities through a network of fund managers. Additionally, Malaysian insurers invest in local stocks. All this serves to create a sustainable cycle of institutional liquidity, stabilises the market and sustains investor confidence. This structural gap in Singapore's equity markets has driven weak IPO activity, market fragmentation, and losses in investor confidence.
Bloomberg
3 days ago
- Business
- Bloomberg
DBS to Step Up Financing of Australia Flows to Southeast Asia
DBS Group Holdings Ltd. partnered with the Australian government to boost trade with Southeast Asia amid the upheaval from the Trump administration's impact on global flows. The agreement between Singapore's largest bank and the Australian Trade and Investment Commission will allow exporters from Australia to expand their businesses in the fast-growing neighboring region.
Business Times
3 days ago
- Business
- Business Times
DBS aims to double Australian lending book in 5 years
[SYDNEY] DBS Group aims to double its Australian lending book in the next five years, its CEO Tan Su Shan said, as the Singapore-headquartered bank seeks to take advantage of trade links between Australia and South-east Asia. The bank said on Wednesday (Jun 18) it had signed a pact with trade agency Austrade which will help it facilitate and finance more trade and investment between Australian and South-east Asian businesses, especially from Singapore, Indonesia, Malaysia and Vietnam. Tan said that DBS's Australian lending book was currently worth about A$11 billion (S$9.2 billion) which, she said, could double to A$20 billion in the next five years. 'Australian companies have been more domestic-centric. We are trying to change that narrative,' Tan said at a press conference on Tuesday. Referring to its Australian client AirTrunk, a data centre operator that was bought by a Blackstone-led consortium for A$24 billion last year, Tan said the company was one of the first few to invest in data centres outside of Australia. 'We'd love to rinse and repeat that with the other big Australian companies,' she said. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up DBS posted in May better-than-expected quarterly results, boosted by wealth management fees that jumped 35 per cent on-year to a record quarterly high of S$724 million, which the bank attributed to strong market sentiment. Assets under management at the bank, South-east Asia's biggest, climbed 13 per cent to a record high of S$432 billion in the first quarter. Tan said while the US dollar and US Treasury's safe-haven status was not yet being threatened, some of the bank's clients had started to diversify away from US dollar-linked investments, which has benefited Japan, among others. 'You've seen also a lot more interest in the euro and the yen. The yen has strengthened as well. So we see people now looking at where do I invest in yen?,' she said. REUTERS
Reuters
3 days ago
- Business
- Reuters
Singapore lender DBS aims to double Australian lending book in 5 years
SYDNEY, June 18 (Reuters) - DBS Group ( opens new tab aims to double its Australian lending book in the next five years, its CEO Tan Su Shan said, as the Singapore-headquartered bank seeks to take advantage of trade links between Australia and Southeast Asia. The bank said on Wednesday it had signed a pact with trade agency Austrade which will help it facilitate and finance more trade and investment between Australian and Southeast Asian businesses, especially from Singapore, Indonesia, Malaysia and Vietnam. Tan said that DBS's Australian lending book was currently worth about A$11 billion ($7.16 billion) which, she said, could double to A$20 billion in the next five years. "Australian companies have been more domestic-centric. We are trying to change that narrative," Tan said at a press conference on Tuesday. Referring to its Australian client AirTrunk, a data centre operator that was bought by a Blackstone-led consortium for A$24 billion last year, Tan said the company was one of the first few to invest in data centers outside of Australia. "We'd love to rinse and repeat that with the other big Australian companies," she said. DBS posted in May better-than-expected quarterly results, boosted by wealth management fees that jumped 35% on-year to a record quarterly high of S$724 million ($563.73 million), which the bank attributed to strong market sentiment. Assets under management at the bank, Southeast Asia's biggest, climbed 13% to a record high of S$432 billion in the first quarter. Tan said while the dollar and U.S. Treasury's safe-haven status was not yet being threatened, some of the bank's clients had started to diversify away from dollar-linked investments, which has benefited Japan, among others. "You've seen also a lot more interest in the euro and the yen. The yen has strengthened as well. So we see people now looking at where do I invest in yen?," she said. ($1 = 1.2843 Singapore dollars) ($1 = 1.5366 Australian dollars)
Yahoo
3 days ago
- Business
- Yahoo
Singapore lender DBS aims to double Australian lending book in 5 years
By Scott Murdoch SYDNEY (Reuters) -DBS Group aims to double its Australian lending book in the next five years, its CEO Tan Su Shan said, as the Singapore-headquartered bank seeks to take advantage of trade links between Australia and Southeast Asia. The bank said on Wednesday it had signed a pact with trade agency Austrade which will help it facilitate and finance more trade and investment between Australian and Southeast Asian businesses, especially from Singapore, Indonesia, Malaysia and Vietnam. Tan said that DBS's Australian lending book was currently worth about A$11 billion ($7.16 billion) which, she said, could double to A$20 billion in the next five years. "Australian companies have been more domestic-centric. We are trying to change that narrative," Tan said at a press conference on Tuesday. Referring to its Australian client AirTrunk, a data centre operator that was bought by a Blackstone-led consortium for A$24 billion last year, Tan said the company was one of the first few to invest in data centers outside of Australia. "We'd love to rinse and repeat that with the other big Australian companies," she said. DBS posted in May better-than-expected quarterly results, boosted by wealth management fees that jumped 35% on-year to a record quarterly high of S$724 million ($563.73 million), which the bank attributed to strong market sentiment. Assets under management at the bank, Southeast Asia's biggest, climbed 13% to a record high of S$432 billion in the first quarter. Tan said while the dollar and U.S. Treasury's safe-haven status was not yet being threatened, some of the bank's clients had started to diversify away from dollar-linked investments, which has benefited Japan, among others. "You've seen also a lot more interest in the euro and the yen. The yen has strengthened as well. So we see people now looking at where do I invest in yen?," she said. ($1 = 1.2843 Singapore dollars) ($1 = 1.5366 Australian dollars) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
