Corporate Updates - Singapore Exchange (SGX) - Insights

Date	Company	Event Details	Sector	Event Summary
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	Lum Chang Creations	Lum Chang Creations has received in-principle approval from Singapore Exchange to transfer from Catalist to the Mainboard.	Proposed Listing	Engineering & Construction
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
12 Feb, 2026	iX Biopharma	iX Biopharma secured a US$40.95 million development contract from the US Department of Defense under a sole-source procurement process to fund the development of Wafermine®, its patented sublingual ketamine wafer for acute moderate to severe pain. The contract is structured on a cost-reimbursable basis, requiring the company to incur upfront project costs including clinical trials before reimbursement. To support delivery of the contract, iX Biopharma plans to raise $6 million through a share placement at 19.8 cents per share	Pharmaceuticals	Contract Awarded
11 Feb, 2026	Soilbuild Construction Group	Soilbuild Construction Group secured $158 million in new contracts, lifting its total order book to $1.07 billion. The wins include a factory project at Seletar West slated for completion by 1Q 2029, as well as precast supply contracts for an HDB project in Redhill and a dormitory in Tuas.	Construction & Engineering	Contract Awarded
10 Feb, 2026	Centurion Accommodation REIT	Centurion Accommodation REIT received provisional approval to add a 6-storey block and modify the existing 8-storey block at Westlite Ubi, increasing total capacity by 540 beds to 2,190. The project, funded through committed debt facilities, requires a land premium of about $13.9 million to JTC Corporation, is expected to begin in the second quarter of 2026, and take 1.5 years to complete, while the existing 1,650-bed block remains operational.	REIT - Specialty	Expansion Plan
10 Feb, 2026	Seatrium	Seatrium’s subsidiary Jurong Shipyard Pte Ltd has commenced London-seated arbitration under UNCITRAL rules against Petrobras Netherlands B.V. to recover US$55.7 million in withheld payments under the P-54 FPSO conversion contract, originally signed in June 2004 and amended in 2006 and 2007. Petrobras is claiming US$79.6 million from JSPL, representing alleged overpayment under the contract. The arbitration follows the November 2023 final decision by the Brazilian Federal Court of Accounts, after which Seatrium considers the grounds for withholding the US$55.7 million no longer applicable. The P-54 contract and arbitration are governed by English law.	Oil & Gas Equipment & Services	Others
10 Feb, 2026	Metro Holdings	Metro Holdings, through its wholly-owned subsidiary Metrobilt Construction, has agreed to divest its 26% interest in the Boustead Industrial Fund to Perpetual Limited ahead of the proposed listing of UI Boustead REIT. The fund holds 15 industrial, business park, high-spec industrial, and logistics properties across Singapore with a net lettable area of about 2.2 million square feet and an aggregate property value of around $765.7 million, which will be transferred to UI Boustead REIT. Metrobilt Construction currently also holds 7% of the notes issued by Perpetual Limited as trustee of BIF, with 26% of these notes to be fully redeemed upon completion. The net proceeds from the sale, including unit distribution and note redemption after fees, are expected to be approximately $116.0 million. The divestment is not expected to materially affect Metro Holdings’ consolidated net tangible assets per share or earnings per share for FY2026.	Department Stores	Disposal

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

Lum Chang Creations

Lum Chang Creations has received in-principle approval from Singapore Exchange to transfer from Catalist to the Mainboard.

Proposed Listing

Engineering & Construction

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

12 Feb, 2026

iX Biopharma

iX Biopharma secured a US$40.95 million development contract from the US Department of Defense under a sole-source procurement process to fund the development of Wafermine®, its patented sublingual ketamine wafer for acute moderate to severe pain. The contract is structured on a cost-reimbursable basis, requiring the company to incur upfront project costs including clinical trials before reimbursement. To support delivery of the contract, iX Biopharma plans to raise $6 million through a share placement at 19.8 cents per share

Pharmaceuticals

Contract Awarded

11 Feb, 2026

Soilbuild Construction Group

Soilbuild Construction Group secured $158 million in new contracts, lifting its total order book to $1.07 billion. The wins include a factory project at Seletar West slated for completion by 1Q 2029, as well as precast supply contracts for an HDB project in Redhill and a dormitory in Tuas.

Construction & Engineering

Contract Awarded

10 Feb, 2026

Centurion Accommodation REIT

Centurion Accommodation REIT received provisional approval to add a 6-storey block and modify the existing 8-storey block at Westlite Ubi, increasing total capacity by 540 beds to 2,190. The project, funded through committed debt facilities, requires a land premium of about $13.9 million to JTC Corporation, is expected to begin in the second quarter of 2026, and take 1.5 years to complete, while the existing 1,650-bed block remains operational.

REIT - Specialty

Expansion Plan

10 Feb, 2026

Seatrium

Seatrium’s subsidiary Jurong Shipyard Pte Ltd has commenced London-seated arbitration under UNCITRAL rules against Petrobras Netherlands B.V. to recover US$55.7 million in withheld payments under the P-54 FPSO conversion contract, originally signed in June 2004 and amended in 2006 and 2007. Petrobras is claiming US$79.6 million from JSPL, representing alleged overpayment under the contract. The arbitration follows the November 2023 final decision by the Brazilian Federal Court of Accounts, after which Seatrium considers the grounds for withholding the US$55.7 million no longer applicable. The P-54 contract and arbitration are governed by English law.

Oil & Gas Equipment & Services

Others

10 Feb, 2026

Metro Holdings

Metro Holdings, through its wholly-owned subsidiary Metrobilt Construction, has agreed to divest its 26% interest in the Boustead Industrial Fund to Perpetual Limited ahead of the proposed listing of UI Boustead REIT. The fund holds 15 industrial, business park, high-spec industrial, and logistics properties across Singapore with a net lettable area of about 2.2 million square feet and an aggregate property value of around $765.7 million, which will be transferred to UI Boustead REIT. Metrobilt Construction currently also holds 7% of the notes issued by Perpetual Limited as trustee of BIF, with 26% of these notes to be fully redeemed upon completion. The net proceeds from the sale, including unit distribution and note redemption after fees, are expected to be approximately $116.0 million. The divestment is not expected to materially affect Metro Holdings’ consolidated net tangible assets per share or earnings per share for FY2026.

Department Stores

Disposal