Corporate Updates - Singapore Exchange (SGX) - Insights

Date	Company	Event Details	Sector	Event Summary
24 Feb, 2026	Singapore Telecommunications (Singtel)	Singtel’s Digital InfraCo and Nvidia will launch a Centre of Excellence for Applied AI in Punggol Digital District in about three months. The facility will combine AI infrastructure, model developers, application providers, and system integrators to help enterprises scale AI pilots into full deployments. The CoE involves a multi-million-dollar investment in GPUs, facilities, and staff, and will initially serve 50 to 60 large enterprises and public agencies with strict data sovereignty requirements. It also focuses on preparing Nxera data centres for Nvidia GPUs, integrating AI ecosystems, advancing edge AI for robotics and autonomous systems, and developing applied AI talent. Nxera data centres currently run Nvidia GB200 systems at 200 kilowatts per rack, with next-generation Rubin Ultra and Feynman GPUs (2027–2029) expected to require 600kW to 1MW per rack. Nxera is implementing high-density infrastructure, IoT monitoring, digital twin software, and 800-volt DC systems to support these GPUs. Digital InfraCo’s AI grid capacity is projected to rise from 200MW in 2026 to over 400MW mid-term, with 40–60% configured for high-density AI workloads, complemented by 250MW in Johor and Batam connected via submarine cable. The CoE will support GPU-as-a-service and AI-as-a-service offerings via the RE:AI sovereign cloud platform.	Telecom Services	Operation Updates
24 Feb, 2026	CapitaLand India Trust	CapitaLand India Trust is raising $150 million through a private placement of units priced between $1.208 and $1.237 each, representing discounts of 2.6% to 4.9% to the VWAP of $1.2701 and 1.5% to 3.8% to the adjusted VWAP of $1.2557 on Feb 23, 2026. It will use $100 million to partly fund the 1.2 million sq ft Building 1 in Ebisu, Bangalore, and $47.4 million to partly fund the 1.1 million sq ft “The Beacon” office project at Nagawara, Outer Ring Road, Bangalore, both under existing agreements that provide a minimum annual coupon of 11.5%. As at Dec 31, 2025, the remaining funding commitments were about INR8.6 billion ($123 million) for Building 1 and INR10.7 billion ($152 million) for The Beacon. The remaining $2.6 million will be used for fees and expenses, and if either project does not proceed, the funds will be redirected to other committed projects.	Commercial REITs	Fund Raising
24 Feb, 2026	Seatrium	Seatrium has completed a series of non-core asset divestments totalling $155.4 million as part of efforts to streamline operations and achieve approximately $50 million in annualised cost savings, including savings from the previously disclosed sales of the AmFELS yard in Texas and the GNL Platform Supply Vessels. In January 2026, it sold 17 tugboats in Singapore for $104 million to KST Maritime and entered into a towage services agreement to continue providing tugboat services to its Singapore shipyards under an outsourcing model aimed at long-term cost efficiencies. The company also divested the Can-Do 2 floating dock at Crescent Yard for $16.9 million, which will be scrapped, reducing vessel-related licence fees, insurance and operating expenses. In December 2025, Seatrium sold its Karimun Yard on Indonesia’s Karimun Island for $22 million to a related party of the Salim Group and is consolidating its Indonesian yard operations at Batam. It is also expected to complete the sale of its Crescent Yard in Singapore for $12.5 million to Mooreast Holdings.	Oil & Gas Equipment & Services	Disposal
23 Feb, 2026	CapitaLand Ascott Trust	CapitaLand Ascott Trust (CLAS) has acquired three freehold rental housing properties in southern Kanagawa, Greater Tokyo, for JPY4.6 billion (about $38.3 million) from Patience Capital Group. The properties — Lime Residence Hiratsuka West (115 units, completed 2023), Lime Residence Hiratsuka East (63 units, completed 2022) and Live Casa Hiratsuka (55 units, completed 2024) — have average occupancy above 95% and average lease terms of around two years. The acquisition, funded by JPY-denominated debt, has a blended net operating income yield of 4.1% and is expected to lift FY2025 distribution per stapled security by 0.2% on a pro forma basis. Following the deal, CLAS will own 35 properties in Japan. Living assets will make up 17.5% of its portfolio, keeping it on track toward its medium-term target of 25%–30% in the living sector and 70%–75% in hospitality. The properties are located along the Sagami Bay coastline in Kanagawa, about 30 minutes by train to Yokohama and 60 minutes to central Tokyo, benefiting from strong rental demand driven by the region’s working population and nearby industrial areas.	REIT - Diversified	Merger & Acquisition
23 Feb, 2026	Oiltek International	Oiltek International has secured new contracts worth RM37.2 million across the Philippines, Africa, Pakistan and Malaysia, lifting its total order book to RM350 million, with deliveries scheduled over the next 18 to 24 months. The contracts cover the design, fabrication, delivery, testing and commissioning of a 200 metric tonnes per day biodiesel plant in the Philippines, a 100 MTD physical refinery plant in Africa, a 100 MTD neutralisation plant in Pakistan, and a glycidyl esters mitigation system with an ice condensing vacuum system for an existing 700 MTD physical refinery plant in Malaysia.	Specialty Industrial Machinery	Contract Awarded
23 Feb, 2026	Nam Cheong	Nam Cheong has secured US$64.5 million in contracts to build four offshore support vessels comprising two 60-metre dive support vessels and two 60-metre remote operated landing crafts for a new customer, an established global energy maritime logistics company based in the United Arab Emirates. The vessels will be fully constructed in-house at Nam Cheong’s shipyard in Sarawak, Malaysia, with delivery scheduled in the second half of 2027 and early 2028. These are the company’s first shipbuilding contract wins in more than a decade. The remote operated landing crafts will be based on a remote-control system developed by SeaOwl Group and are described as the first-of-its-kind vessels to be built globally, featuring built-in auto docking capability and fully unmanned operations controlled remotely via satellite from a shore station for logistical missions requiring rapid deployment and crewless functionality. The dive support vessels are designed to perform complex subsea operations in harsh open-water conditions, including diving support, remotely operated vehicle support, underwater inspection and maintenance.	Shipbuilding	Contract Awarded
19 Feb, 2026	Woh Hup Engineering	Construction of the three stations for the second extension of the Downtown Line will begin in the second quarter of 2026, after the Land Transport Authority awarded two contracts on Feb 19 totalling about $735 million. Woh Hup Engineering secured a $285 million contract to design and build the underground Sungei Kadut station (codenamed DE1), along with a vehicular bridge extending Choa Chu Kang North 7 and a pedestrian bridge over Pang Sua Canal, while a joint venture between Samwoh Corporation and China Communications Construction Company (Singapore branch) won a $450 million contract to construct two connected stations — the underground Downtown Line station DE2 and the aboveground North-South Line station NS6 between Yew Tee and Kranji. Passenger service for the extension is expected to commence in 2035.	Construction & Engineering	Contract Awarded
19 Feb, 2026	Nera Telecommunications	Nera Telecommunications has secured a three-year contract worth $2.4 million from an established institutional asset management group to provide technical management and operational support for cybersecurity services, including 24/7 security information and event management (SIEM), security operations centre (SOC) services, security operations platform management and related services. The contract is expected to contribute to the group’s performance for the current financial year and strengthens its focus on expanding managed services and enhancing cybersecurity and SOC capabilities.	Communications & Networking	Contract Awarded
16 Feb, 2026	Centurion Corporation	Centurion Corporation, via its wholly owned subsidiary Centurion Dormitory Venture (II), has acquired a 65% stake in Manna 777 Properties for $4.81 million. Manna 777 owns a freehold site at 7 Kim Chuan Lane (975.9 sq m), where Centurion plans to develop and operate a purpose-built workers’ accommodation (PBWA). The purchase price was based on Manna 777’s unaudited NAV of $5.9 million as at Jan 31. Centurion has also extended a further $1 million to be capitalised into additional shares. Following completion, Centurion Dormitory Venture (II) will form a joint venture with ACKC Hesed (24.5%) and Mulberry Land (10.5%), which retain minority stakes in Manna 777.	Lodging	Merger & Acquisition
16 Feb, 2026	iX Biopharma	iX Biopharma has raised $15 million via a share placement, exceeding its initial minimum target of $6 million due to strong investor demand. The shares were placed at 19.8 cents each, a 7.1% discount to the Feb 10 volume-weighted average price of 21.31 cents, prior to the trading halt. Of the proceeds, $13 million will fund a new US government contract and general working capital, while $2 million will go toward debt repayment.	Pharmaceuticals	Fund Raising

24 Feb, 2026

Singapore Telecommunications (Singtel)

Singtel’s Digital InfraCo and Nvidia will launch a Centre of Excellence for Applied AI in Punggol Digital District in about three months. The facility will combine AI infrastructure, model developers, application providers, and system integrators to help enterprises scale AI pilots into full deployments. The CoE involves a multi-million-dollar investment in GPUs, facilities, and staff, and will initially serve 50 to 60 large enterprises and public agencies with strict data sovereignty requirements. It also focuses on preparing Nxera data centres for Nvidia GPUs, integrating AI ecosystems, advancing edge AI for robotics and autonomous systems, and developing applied AI talent. Nxera data centres currently run Nvidia GB200 systems at 200 kilowatts per rack, with next-generation Rubin Ultra and Feynman GPUs (2027–2029) expected to require 600kW to 1MW per rack. Nxera is implementing high-density infrastructure, IoT monitoring, digital twin software, and 800-volt DC systems to support these GPUs. Digital InfraCo’s AI grid capacity is projected to rise from 200MW in 2026 to over 400MW mid-term, with 40–60% configured for high-density AI workloads, complemented by 250MW in Johor and Batam connected via submarine cable. The CoE will support GPU-as-a-service and AI-as-a-service offerings via the RE:AI sovereign cloud platform.

Telecom Services

Operation Updates

24 Feb, 2026

CapitaLand India Trust

CapitaLand India Trust is raising $150 million through a private placement of units priced between $1.208 and $1.237 each, representing discounts of 2.6% to 4.9% to the VWAP of $1.2701 and 1.5% to 3.8% to the adjusted VWAP of $1.2557 on Feb 23, 2026. It will use $100 million to partly fund the 1.2 million sq ft Building 1 in Ebisu, Bangalore, and $47.4 million to partly fund the 1.1 million sq ft “The Beacon” office project at Nagawara, Outer Ring Road, Bangalore, both under existing agreements that provide a minimum annual coupon of 11.5%. As at Dec 31, 2025, the remaining funding commitments were about INR8.6 billion ($123 million) for Building 1 and INR10.7 billion ($152 million) for The Beacon. The remaining $2.6 million will be used for fees and expenses, and if either project does not proceed, the funds will be redirected to other committed projects.

Commercial REITs

Fund Raising

24 Feb, 2026

Seatrium

Seatrium has completed a series of non-core asset divestments totalling $155.4 million as part of efforts to streamline operations and achieve approximately $50 million in annualised cost savings, including savings from the previously disclosed sales of the AmFELS yard in Texas and the GNL Platform Supply Vessels. In January 2026, it sold 17 tugboats in Singapore for $104 million to KST Maritime and entered into a towage services agreement to continue providing tugboat services to its Singapore shipyards under an outsourcing model aimed at long-term cost efficiencies. The company also divested the Can-Do 2 floating dock at Crescent Yard for $16.9 million, which will be scrapped, reducing vessel-related licence fees, insurance and operating expenses. In December 2025, Seatrium sold its Karimun Yard on Indonesia’s Karimun Island for $22 million to a related party of the Salim Group and is consolidating its Indonesian yard operations at Batam. It is also expected to complete the sale of its Crescent Yard in Singapore for $12.5 million to Mooreast Holdings.

Oil & Gas Equipment & Services

Disposal

23 Feb, 2026

CapitaLand Ascott Trust

CapitaLand Ascott Trust (CLAS) has acquired three freehold rental housing properties in southern Kanagawa, Greater Tokyo, for JPY4.6 billion (about $38.3 million) from Patience Capital Group. The properties — Lime Residence Hiratsuka West (115 units, completed 2023), Lime Residence Hiratsuka East (63 units, completed 2022) and Live Casa Hiratsuka (55 units, completed 2024) — have average occupancy above 95% and average lease terms of around two years. The acquisition, funded by JPY-denominated debt, has a blended net operating income yield of 4.1% and is expected to lift FY2025 distribution per stapled security by 0.2% on a pro forma basis. Following the deal, CLAS will own 35 properties in Japan. Living assets will make up 17.5% of its portfolio, keeping it on track toward its medium-term target of 25%–30% in the living sector and 70%–75% in hospitality. The properties are located along the Sagami Bay coastline in Kanagawa, about 30 minutes by train to Yokohama and 60 minutes to central Tokyo, benefiting from strong rental demand driven by the region’s working population and nearby industrial areas.

REIT - Diversified

Merger & Acquisition

23 Feb, 2026

Oiltek International

Oiltek International has secured new contracts worth RM37.2 million across the Philippines, Africa, Pakistan and Malaysia, lifting its total order book to RM350 million, with deliveries scheduled over the next 18 to 24 months. The contracts cover the design, fabrication, delivery, testing and commissioning of a 200 metric tonnes per day biodiesel plant in the Philippines, a 100 MTD physical refinery plant in Africa, a 100 MTD neutralisation plant in Pakistan, and a glycidyl esters mitigation system with an ice condensing vacuum system for an existing 700 MTD physical refinery plant in Malaysia.

Specialty Industrial Machinery

Contract Awarded

23 Feb, 2026

Nam Cheong

Nam Cheong has secured US$64.5 million in contracts to build four offshore support vessels comprising two 60-metre dive support vessels and two 60-metre remote operated landing crafts for a new customer, an established global energy maritime logistics company based in the United Arab Emirates. The vessels will be fully constructed in-house at Nam Cheong’s shipyard in Sarawak, Malaysia, with delivery scheduled in the second half of 2027 and early 2028. These are the company’s first shipbuilding contract wins in more than a decade. The remote operated landing crafts will be based on a remote-control system developed by SeaOwl Group and are described as the first-of-its-kind vessels to be built globally, featuring built-in auto docking capability and fully unmanned operations controlled remotely via satellite from a shore station for logistical missions requiring rapid deployment and crewless functionality. The dive support vessels are designed to perform complex subsea operations in harsh open-water conditions, including diving support, remotely operated vehicle support, underwater inspection and maintenance.

Shipbuilding

Contract Awarded

19 Feb, 2026

Woh Hup Engineering

Construction of the three stations for the second extension of the Downtown Line will begin in the second quarter of 2026, after the Land Transport Authority awarded two contracts on Feb 19 totalling about $735 million. Woh Hup Engineering secured a $285 million contract to design and build the underground Sungei Kadut station (codenamed DE1), along with a vehicular bridge extending Choa Chu Kang North 7 and a pedestrian bridge over Pang Sua Canal, while a joint venture between Samwoh Corporation and China Communications Construction Company (Singapore branch) won a $450 million contract to construct two connected stations — the underground Downtown Line station DE2 and the aboveground North-South Line station NS6 between Yew Tee and Kranji. Passenger service for the extension is expected to commence in 2035.

Construction & Engineering

Contract Awarded

19 Feb, 2026

Nera Telecommunications

Nera Telecommunications has secured a three-year contract worth $2.4 million from an established institutional asset management group to provide technical management and operational support for cybersecurity services, including 24/7 security information and event management (SIEM), security operations centre (SOC) services, security operations platform management and related services. The contract is expected to contribute to the group’s performance for the current financial year and strengthens its focus on expanding managed services and enhancing cybersecurity and SOC capabilities.

Communications & Networking

Contract Awarded

16 Feb, 2026

Centurion Corporation

Centurion Corporation, via its wholly owned subsidiary Centurion Dormitory Venture (II), has acquired a 65% stake in Manna 777 Properties for $4.81 million. Manna 777 owns a freehold site at 7 Kim Chuan Lane (975.9 sq m), where Centurion plans to develop and operate a purpose-built workers’ accommodation (PBWA). The purchase price was based on Manna 777’s unaudited NAV of $5.9 million as at Jan 31. Centurion has also extended a further $1 million to be capitalised into additional shares. Following completion, Centurion Dormitory Venture (II) will form a joint venture with ACKC Hesed (24.5%) and Mulberry Land (10.5%), which retain minority stakes in Manna 777.

Lodging

Merger & Acquisition

16 Feb, 2026

iX Biopharma

iX Biopharma has raised $15 million via a share placement, exceeding its initial minimum target of $6 million due to strong investor demand. The shares were placed at 19.8 cents each, a 7.1% discount to the Feb 10 volume-weighted average price of 21.31 cents, prior to the trading halt. Of the proceeds, $13 million will fund a new US government contract and general working capital, while $2 million will go toward debt repayment.

Pharmaceuticals

Fund Raising