Ben Paul

Ben Paul

SENIOR CORRESPONDENT

Ben Paul joined The Business Times in 2020, after nearly three decades of covering financial markets as an analyst and journalist. He writes and produces the BT’s Mark To Market column and podcast.

Low Keng Huat’s net asset value as at Jul 31 was S$0.79 per share, or 9.7 per cent above the offer price
HOCK LOCK SIEW

Concerns of weak prospects at Low Keng Huat belie a history of strong shareholder returns

Its shares have delivered a higher total return over the past 15 years than the STI as well as property groups such...

Among the few listings on SGX that have done really well this year are Centurion Accommodation Reit, Lum Chang Creations, and MetaOptics
MARK TO MARKET

UltraGreen.ai right to move fast on Singapore listing instead of waiting for SGX-Nasdaq bridge

To drive its post-listing performance, the company should educate investors, lay out operational milestones and emphasise its competitive advantage

The SGX-Nasdaq dual listing bridge will offer companies with market caps of S$2 billion or more the opportunity to list on both exchanges without much additional cost or effort
MARK TO MARKET

SGX-Nasdaq dual-listing bridge may afford GIC, Temasek bigger role in revitalising local market

MAS says EQDP and the Anchor Fund @ 65 will support fundraising activity and trading liquidity on the new Global Listing Board

“The continued divergence between equity market valuations and rising downside risks to growth raises the prospects of disorderly corrections in the event of shocks,” MAS said.
MARK TO MARKET

Should the S$5 billion EQDP roll-out be slowed amid elevated valuations, global market risks?

Even if the worries of a disorderly correction are overblown, some richly priced stocks may struggle to deliver worthwhile returns over the...

The sheer size of UOB’s allowances in Q3 2025 suggests it is trying to “kitchen sink” the problem of higher NPLs, and completely negate the risks that might lie ahead
MARK TO MARKET

UOB could be Singapore’s top ‘value-up’ play

DBS likely to outperform despite its seemingly high valuations, while OCBC may come to be viewed as the main value play among...

YZJ Maritime has signed agreements to raise S$5.2 million through a placement of nearly 8.64 million shares at S$0.60 each, tagging its overall valuation at more than S$2 billion
HOCK LOCK SIEW

YZJ Financial right to spin off maritime assets

After birthing YZJ Maritime, YZJ Financial could move more aggressively in interesting new directions

Besides retiring the financial watch list, SGX RegCo also lowered the profit test requirement for companies seeking to list on the mainboard, from S$30 million to S$10 million.
MARK TO MARKET

Shareholder engagement crucial as listing rules are loosened and financial watch list is retired

Was the negative stigma of the watch list really a problem? Or, was the real problem the fact that many companies on...

The STI would have to rise by about 5.6 per cent a year from its Friday close of 4,422.21 in order to reach the 10,000 level by 2040
MARK TO MARKET

STI 10,000 is not an unachievable goal

DBS’ Singapore 2040 report could mark the beginning of a more positive narrative about the Singapore market

Five Next 50 stocks have chalked up triple-digit percentage gains this year: Hong Leong Asia, Yangzijiang Financial, Propnex, Food Empire, and Pan-United Corp
MARK TO MARKET

Institutional investors will have key role to play if the run in smaller-cap stocks is to continue

Next 50 indices in their current form are likely to be just as effective in promoting market discipline among smaller-cap companies as...

Keppel Reit has raised S$113 million through a placement of nearly 115 million new units priced at S$0.983 each to part fund its latest acquisition
HOCK LOCK SIEW

Is Keppel Reit’s deal Down Under a good move?

Prime office landlord may continue diversifying geographically and across real estate asset classes to expand its portfolio