Corporate Updates - Singapore Exchange (SGX) - Insights

Date	Company	Event Details	Sector	Event Summary
1 Apr, 2026	First REIT	First REIT plans to divest its Indonesia assets for a total agreed value of $471.5 million. On April 1, it signed agreements to sell eight hospitals to Siloam for IDR5.1 trillion ($389.2 million), including Siloam Sriwijaya, Purwakarta, Lippo Village, Kebon Jeruk, Bali, Kupang, Baubau, and Manado, at a 2.8% premium to recent valuations. It also agreed to sell three non-hospital assets for IDR1.1 trillion ($82.4 million): Lippo Plaza Baubau and Hotel Aryaduta Manado to PT Lippo Karawaci Tbk, and a prepaid lease of Lippo Plaza Kupang to PT Bumi Sarana Sejahtera. The transactions recover $6.9 million in MPU rental arrears. First REIT has put option agreements with Siloam for six remaining hospitals at IDR3.9 trillion ($294.8 million). Proceeds from the divestments will repay CGIF bonds, standby letters of credit, and syndicated loans, reducing leverage to 16.7% and generating $18.8 million in annual interest savings. A special distribution of $9.7 million is planned. The REIT will focus on developed markets including Singapore, Japan, and Australia, while continuing management of its Singapore and Japan properties. Divestments require unitholder approval at an EGM expected in June, with completion targeted for August.	REIT - Healthcare Facilities	Disposal
27 Mar, 2026	Aoxin Q&M Dental Group	Aoxin Q&M Dental Group plans to acquire an unnamed China-based dental group for RMB150 million. The target operates about 30 clinics in central China with 80 dentists and is involved in dental services, medical device technology development, and wholesale and retail of medical devices. Aoxin will fund RMB75 million in cash and the remaining amount through new shares issued at 30 cents each. The acquisition includes a profit guarantee of RMB71 million over five years and a 15-year service agreement with the seller and related individuals. Parent company Q&M Dental Group is undertaking three acquisitions across Singapore, Australia, and Thailand.	Medical Care Facilities	Merger & Acquisition
25 Mar, 2026	OUE REIT	OUE Bayfront has obtained planning approval to convert a level 17 chiller system area into over 2,100 sqm of prime office space, with completion expected in the first half of 2027. The conversion will cost up to $43 million, funded through existing loan facilities, and is projected to deliver a stabilised return on investment exceeding 11%. The building has been connected to the District Cooling System since 2025, allowing decommissioning of the old chiller system and supporting OUE REIT’s target to reduce Scope 1 and 2 greenhouse gas emissions from commercial assets by 40% by 2030.	REIT - Office	Operation Updates
24 Mar, 2026	Boustead Singapore	Boustead Projects E&C, part of Boustead Singapore’s real estate solutions division, has been awarded a second-phase fit-out contract worth over $50 million by a Fortune 500 client. The contract covers fit-out works of more than 5,500 sqm within the integrated manufacturing, logistics, and office facility in Singapore, which Boustead had initially delivered in 2024. The new contract raises Boustead Singapore’s real estate solutions division order backlog to $343 million and the Boustead Group’s total engineering order backlog to $506 million	Conglomerates	Contract Awarded
23 Mar, 2026	The Assembly Place	The Assembly Place has completed the acquisition of 163 Tras Street, an 11-storey freehold commercial building formerly known as Lian Huat Building, through joint venture company 163 TS in which it holds a 10% stake. The property, transacted at about $90 million, sits on a site area of 619.5 sqm with a gross floor area of 3,606.34 sqm and six carpark lots. Provisional approval from the Urban Redevelopment Authority has been obtained to convert the building into a 152-room hotel. The Assembly Place’s share of the loan for the acquisition and upgrading works is about $2.25 million, with $1.88 million funded from IPO proceeds and the remainder from internal cash. The site is zoned “Commercial” under the 2019 Master Plan with a plot ratio of 5.6 and a maximum building height of 35 storeys.	Real Estate Services	Merger & Acquisition
22 Mar, 2026	HGH Holdings Ltd	HGH Holdings has agreed to sell 200,000 shares, representing a 20% stake in its subsidiary Premium Concrete, for $2.4 million to Lim Kui Teng. The transaction is subject to written consent from United Overseas Bank under a facility letter dated June 13, 2024. Premium Concrete reported net liabilities of $3.45 million and net tangible liabilities of $3.49 million for FY2025 ended December 31, 2025, while an independent valuation by Baker Tilly Consultancy estimated its full equity value at $12.1 million to $12.5 million as at July 31, 2025. The disposal is intended to strengthen collaboration with Chuan Lim Construction, enabling continued services in truck maintenance, raw material supply, sludge collection, and concrete supply, while expanding access to contractor networks in earthwork, building, infrastructure, property development, and dormitory projects.	Electronic Equipment & Parts	Disposal
21 Mar, 2026	Mapletree Logistics Trust	Mapletree Logistics Trust (MLT) plans to acquire a newly-built, freehold Grade A warehouse in Bhiwandi, Mumbai, India, for INR3.89 billion ($53.6 million) through the purchase of an investment holding company and a property holding company from unrelated third parties. Completed in August 2025, the warehouse comprises two single-storey blocks with a net lettable area of 79,378 sqm, located 70 km from Mumbai’s city centre near key transport corridors and ports. The property is fully leased to two listed food and grocery e-commerce companies, with a weighted average lease term of 3.9 years and built-in rental escalations. The acquisition will expand MLT’s presence in India from Pune and Delhi to Mumbai and is expected to be accretive to distribution per unit. The property was independently valued at INR3.95 billion as of February 28, 2026. The acquisition will be fully debt-funded and is expected to complete by the fourth quarter of FY2026, increasing MLT’s aggregate leverage ratio to 40.9% from 40.7% as of December 31, 2025.	REIT - Industrial	Merger & Acquisition
17 Mar, 2026	Secura Group	Secura Group has secured a three-year, $12.9 million contract from the National Heritage Board to provide security services across its museums and heritage institutions. The contract includes implementing an AI-supported surveillance system alongside human oversight.	Business Support Services	Contract Awarded
13 Mar, 2026	ISDN Holdings	ISDN Holdings’ subsidiary, NovaPeak Pte Ltd, has partnered with Panasonic Holdings Corporation to expand the global deployment of NovaPeak’s LiveInspect.AI solution. LiveInspect.AI is an AI-powered platform for automated building inspections, offering improved safety, consistency, and accuracy compared with human inspections, particularly for high-rise and large-scale buildings. The partnership aims to accelerate commercialisation and licensing of LiveInspect.AI worldwide. Eugene Choy, NovaPeak’s founder, and Teo Cher Koon, ISDN’s president and managing director, highlighted that the collaboration advances applied AI in industrial and built-environment sectors, providing scalable, enterprise-ready solutions for long-term value.	Electrical Components & Equipment	Operation Updates
13 Mar, 2026	Singapore Telecommunications (Singtel)	Singtel Innov8, the corporate venture capital arm of Singapore Telecommunications, has launched a US$250 million ($320 million) AI Growth Fund to invest in growth-stage artificial intelligence start-ups worldwide. The fund will focus on technologies for customer engagement, network operations, cybersecurity, IT automation, enterprise AI platforms, and industry-specific applications, allowing portfolio companies to test and scale products with Singtel’s operating units. The AI Growth Fund adds to Innov8’s existing US$250 million evergreen fund, bringing total managed capital to about US$500 million. Singtel’s Digital InfraCo, including Nxera data centres and the RE:AI cloud platform, will provide computing capacity, while NCS will support system integration and operationalisation. The fund complements Digital InfraCo’s Centre of Excellence for Applied AI with Nvidia and aligns with Singtel’s “AI Grid” initiative, combining 5G-Advanced networks, edge computing, and cloud capabilities to support enterprise and government AI deployments.	Telecom Services	Business Venture

1 Apr, 2026

First REIT

First REIT plans to divest its Indonesia assets for a total agreed value of $471.5 million. On April 1, it signed agreements to sell eight hospitals to Siloam for IDR5.1 trillion ($389.2 million), including Siloam Sriwijaya, Purwakarta, Lippo Village, Kebon Jeruk, Bali, Kupang, Baubau, and Manado, at a 2.8% premium to recent valuations. It also agreed to sell three non-hospital assets for IDR1.1 trillion ($82.4 million): Lippo Plaza Baubau and Hotel Aryaduta Manado to PT Lippo Karawaci Tbk, and a prepaid lease of Lippo Plaza Kupang to PT Bumi Sarana Sejahtera. The transactions recover $6.9 million in MPU rental arrears. First REIT has put option agreements with Siloam for six remaining hospitals at IDR3.9 trillion ($294.8 million). Proceeds from the divestments will repay CGIF bonds, standby letters of credit, and syndicated loans, reducing leverage to 16.7% and generating $18.8 million in annual interest savings. A special distribution of $9.7 million is planned. The REIT will focus on developed markets including Singapore, Japan, and Australia, while continuing management of its Singapore and Japan properties. Divestments require unitholder approval at an EGM expected in June, with completion targeted for August.

REIT - Healthcare Facilities

Disposal

27 Mar, 2026

Aoxin Q&M Dental Group

Aoxin Q&M Dental Group plans to acquire an unnamed China-based dental group for RMB150 million. The target operates about 30 clinics in central China with 80 dentists and is involved in dental services, medical device technology development, and wholesale and retail of medical devices. Aoxin will fund RMB75 million in cash and the remaining amount through new shares issued at 30 cents each. The acquisition includes a profit guarantee of RMB71 million over five years and a 15-year service agreement with the seller and related individuals. Parent company Q&M Dental Group is undertaking three acquisitions across Singapore, Australia, and Thailand.

Medical Care Facilities

Merger & Acquisition

25 Mar, 2026

OUE REIT

OUE Bayfront has obtained planning approval to convert a level 17 chiller system area into over 2,100 sqm of prime office space, with completion expected in the first half of 2027. The conversion will cost up to $43 million, funded through existing loan facilities, and is projected to deliver a stabilised return on investment exceeding 11%. The building has been connected to the District Cooling System since 2025, allowing decommissioning of the old chiller system and supporting OUE REIT’s target to reduce Scope 1 and 2 greenhouse gas emissions from commercial assets by 40% by 2030.

REIT - Office

Operation Updates

24 Mar, 2026

Boustead Singapore

Boustead Projects E&C, part of Boustead Singapore’s real estate solutions division, has been awarded a second-phase fit-out contract worth over $50 million by a Fortune 500 client. The contract covers fit-out works of more than 5,500 sqm within the integrated manufacturing, logistics, and office facility in Singapore, which Boustead had initially delivered in 2024. The new contract raises Boustead Singapore’s real estate solutions division order backlog to $343 million and the Boustead Group’s total engineering order backlog to $506 million

Conglomerates

Contract Awarded

23 Mar, 2026

The Assembly Place

The Assembly Place has completed the acquisition of 163 Tras Street, an 11-storey freehold commercial building formerly known as Lian Huat Building, through joint venture company 163 TS in which it holds a 10% stake. The property, transacted at about $90 million, sits on a site area of 619.5 sqm with a gross floor area of 3,606.34 sqm and six carpark lots. Provisional approval from the Urban Redevelopment Authority has been obtained to convert the building into a 152-room hotel. The Assembly Place’s share of the loan for the acquisition and upgrading works is about $2.25 million, with $1.88 million funded from IPO proceeds and the remainder from internal cash. The site is zoned “Commercial” under the 2019 Master Plan with a plot ratio of 5.6 and a maximum building height of 35 storeys.

Real Estate Services

Merger & Acquisition

22 Mar, 2026

HGH Holdings Ltd

HGH Holdings has agreed to sell 200,000 shares, representing a 20% stake in its subsidiary Premium Concrete, for $2.4 million to Lim Kui Teng. The transaction is subject to written consent from United Overseas Bank under a facility letter dated June 13, 2024. Premium Concrete reported net liabilities of $3.45 million and net tangible liabilities of $3.49 million for FY2025 ended December 31, 2025, while an independent valuation by Baker Tilly Consultancy estimated its full equity value at $12.1 million to $12.5 million as at July 31, 2025. The disposal is intended to strengthen collaboration with Chuan Lim Construction, enabling continued services in truck maintenance, raw material supply, sludge collection, and concrete supply, while expanding access to contractor networks in earthwork, building, infrastructure, property development, and dormitory projects.

Electronic Equipment & Parts

Disposal

21 Mar, 2026

Mapletree Logistics Trust

Mapletree Logistics Trust (MLT) plans to acquire a newly-built, freehold Grade A warehouse in Bhiwandi, Mumbai, India, for INR3.89 billion ($53.6 million) through the purchase of an investment holding company and a property holding company from unrelated third parties. Completed in August 2025, the warehouse comprises two single-storey blocks with a net lettable area of 79,378 sqm, located 70 km from Mumbai’s city centre near key transport corridors and ports. The property is fully leased to two listed food and grocery e-commerce companies, with a weighted average lease term of 3.9 years and built-in rental escalations. The acquisition will expand MLT’s presence in India from Pune and Delhi to Mumbai and is expected to be accretive to distribution per unit. The property was independently valued at INR3.95 billion as of February 28, 2026. The acquisition will be fully debt-funded and is expected to complete by the fourth quarter of FY2026, increasing MLT’s aggregate leverage ratio to 40.9% from 40.7% as of December 31, 2025.

REIT - Industrial

Merger & Acquisition

17 Mar, 2026

Secura Group

Secura Group has secured a three-year, $12.9 million contract from the National Heritage Board to provide security services across its museums and heritage institutions. The contract includes implementing an AI-supported surveillance system alongside human oversight.

Business Support Services

Contract Awarded

13 Mar, 2026

ISDN Holdings

ISDN Holdings’ subsidiary, NovaPeak Pte Ltd, has partnered with Panasonic Holdings Corporation to expand the global deployment of NovaPeak’s LiveInspect.AI solution. LiveInspect.AI is an AI-powered platform for automated building inspections, offering improved safety, consistency, and accuracy compared with human inspections, particularly for high-rise and large-scale buildings. The partnership aims to accelerate commercialisation and licensing of LiveInspect.AI worldwide. Eugene Choy, NovaPeak’s founder, and Teo Cher Koon, ISDN’s president and managing director, highlighted that the collaboration advances applied AI in industrial and built-environment sectors, providing scalable, enterprise-ready solutions for long-term value.

Electrical Components & Equipment

Operation Updates

13 Mar, 2026

Singapore Telecommunications (Singtel)

Singtel Innov8, the corporate venture capital arm of Singapore Telecommunications, has launched a US$250 million ($320 million) AI Growth Fund to invest in growth-stage artificial intelligence start-ups worldwide. The fund will focus on technologies for customer engagement, network operations, cybersecurity, IT automation, enterprise AI platforms, and industry-specific applications, allowing portfolio companies to test and scale products with Singtel’s operating units. The AI Growth Fund adds to Innov8’s existing US$250 million evergreen fund, bringing total managed capital to about US$500 million. Singtel’s Digital InfraCo, including Nxera data centres and the RE:AI cloud platform, will provide computing capacity, while NCS will support system integration and operationalisation. The fund complements Digital InfraCo’s Centre of Excellence for Applied AI with Nvidia and aligns with Singtel’s “AI Grid” initiative, combining 5G-Advanced networks, edge computing, and cloud capabilities to support enterprise and government AI deployments.

Telecom Services

Business Venture