The Business Times
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.

emailbenpaul@sph.com.sg
email@BenPaulBT
The STI is up 20.7 per cent so far this year, versus the S&P 500’s gain of 16.2 per cent
MARK TO MARKET

Singapore market reforms may lift sentiment in 2026 despite geopolitical, trade uncertainty

Investors should focus on companies with credible and clearly stated plans to drive shareholder value

Citing research from property consulting firms, Keppel Reit’s manager said average vacancy rates at Grade A office properties in the CBD fell to 5.1 per cent in Q3 2025, down from 6.6 per cent in Q3 2024
MARK TO MARKET

Keppel Reit’s dilutive purchase of MBFC Tower 3 a gamble on the sensibilities of S-Reit investors

A quick rebound from its sell-off last week might suggest investors are prepared to stomach some DPU dilution for the right deal...

The weak post-listing performance of UltraGreen.ai is perplexing considering that the STI is up 19.6 per cent this year
MARK TO MARKET

Can UltraGreen.ai shine in a market dominated by big, dividend-paying companies?

As the newly listed stock slides below its IPO price, DFI Retail Group is soaring on plans to boost its profitability and...

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...

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