A recent Bamboo Works podcast covered how the Philippines’ Jollibee Foods (PSE: JFC / OTCMKTS: JBFCF / JBFCY) is planning tospinoff and list its international business on the Hong Kong stock exchange:
“If you want to ensure the success of a company that is still very much regional Southeast Asia when going to market, it’s probably a bit easier in Hong Kong than in the U.S.” — Explaining why a Southeast Asian consumer brand would prefer a Hong Kong listing over Wall Street.
Renee made some general comments that an Asian fast food chain is probably not going to get too much attention from US investors and that doing a listing in Hong Kong would be easier.
However, I have to note that I lived and worked in both the Philippines and Vietnam some years ago. In the later, only Jolibee’s and the Korean fast food chains were willing to navigate the country’s “complex” real estate “situation” to operate standalone outlets not located in malls/office buildings.
And there’s a good reason why almost no Filipino or Indonesian companies have a major stock listing in the USA as they and their executives would become subject to all sorts of SEC laws and probably the Foreign & Corrupt Practices Act. While I have met Indonesians (they cannot have dual citizenship) secretly juggling foreign passports, many Filipinos in the country’s elite or their close relatives have (sometimes discreetly) US passports or Green Cards (and I doubt they get the same type of rectal exam compliance and tax wise that us native born Americans get from the IRS and ALL financial institutions EVERYWHERE in the world).
And like the USA, Singapore also has the Prevention of Corruption Act (PCA); but I think it mainly covers their citizens (who can’t hold dual citizenship) – including when outside the country (but it may also apply to anyone working for or on the Board of a Singapore entity or listing).
Likewise, a US listing would attract every so-called “investigative journalist” or “research analyst” with a blog who also happen to be short sellers into doing “investigations” that would likely uncover business practices that would send the share price down and trigger regulatory investigations.
In other words, Hong Kong rather than the USA or Singapore is a safer place for many emerging and frontier market companies and their executives to do foreign listings.
Hong Kong’s stock exchange has proposed easing its rules on major corporate transactions and spin-off listings to reduce compliance burdens and increase flexibility for listed companies.
Under the new proposals, the threshold for transactions requiring shareholder approval and a circular will double to 50% of an issuer’s total assets, revenue, or other metrics. Deals triggering a ratio between 25% and 50% will only require enhanced public announcements.
And again, I would expect the Hong Kong market to continue to attract emerging and frontier market company listings over both the USA and Singapore…
Quick DeepSeek note, China’s AI Financing, most August fund updates are now available, etc.
$ = Behind a paywall / 🗃️ = Link to an archived article (Note: Seeking Alpha earnings/conference etc. presentations are typically not paywalled) / ⛔ = Article archiving may not be working properly
Three Chinese bond funds using an accounting method designed to smooth returns closed their fundraising early this week, underscoring strong institutional demand after regulators reopened the product category for the first time in five years.
Neuberger Berman Fund Management (China) Co. Ltd. announced on Thursday that its 63-month closed-end bond fund had ended fundraising ahead of schedule. A day earlier, similar funds managed by BlackRock Inc. and Hotland Innovation Asset Management Co. Ltd. also announced early closures. All three funds only began taking orders on Monday.
The US outspent China 23-to-1 on private AI investment in 2025, yet the model performance gap collapsed from ~31 percentage points to 2.7% in under three years.
Beijing is not chasing AGI. It is deploying AI as industrial infrastructure — robots, healthcare, manufacturing — backed by state capital, open-source models, and a 2030 deadline.
A dozen Chinese AI pure-plays now trade publicly, mostly in Hong Kong, with more IPOs in the pipeline. Valuations are steep but structural tailwinds are durable.
The IT and software services giant is stumping up $141 million to gain a bigger foothold for its AI solutions in the power-generation and new-energy industry
Chinasoft International Limited (HKG: 0354 / OTCMKTS: CFTLF) plans to acquire a controlling stake in energy services provider Gisway, paying 41% over the market price
Chinasoft’s AI-related revenue more than doubled in the first half as it folds advanced computing and agentic functions into its enterprise services
The company’s stock soared after its controlling shareholder acquired a large stake in an AI company, but its financial reality is grounded in a deteriorating fireproofing business
Easy Smart Group Holdings Ltd (HKG: 2442) warned that its net loss for its latest fiscal year ballooned, citing fierce competition for new tenders in its core fireproofing business
The warning follows a huge surge in its shares from May to August, after its top shareholder acquired a substantial stake in an AI company
The world’s largest smartphone ODM is using acquisitions to cater to booming demand for AI infrastructure
Shanghai Longcheer Technology Co Ltd (SHA: 603341 / HKG: 9611 / FRA: V58) has revised terms for its acquisition of an AI infrastructure company, reducing the size of its stake and making performance targets stricter
The world’s largest contract smartphone manufacturer is tapping demand for AI infrastructure with a recent string of acquisitions
The management of Tongda Group Holdings Ltd (HKG: 0698 / FRA: TJC) has decided to focus on the growth of its subsidiary, Tongda smart tech, thus less dependant on smart phone replacement cycle.
The subsidiary generated ~30% of the parent’s revenue but contributed to most of the parent’s operating profit.
Although the valuation gap presents a real arbitrage opportunity with the HK listed present a deep discount, the key lies in the not-so-difficult monetization potential to realize the gap.
The precision-tool maker founded by a former toy factory worker is planning another factory, even as its Hong Kong shares trade well below their July IPO price
Guangdong Dtech Technology Co Ltd (SHE: 301377 / HKG: 1377) is planning to build a 700 million yuan materials factory, while net cash outflow and growing competition test the durability of its growth
The company’s revenue more than doubled in the first half of 2026 as increasingly complex circuit boards needed for AI lifted demand for its precision tools
The Shanghai-listed company has filed for a Hong Kong IPO, reporting it swung to a loss this year as it failed to fully pass on rising material costs to its customers
Dynamic Electronics Co Ltd(SHA: 603175) has filed to list in Hong Kong, reporting it fell into the red in the first half of this year, even as its revenue jumped by 33%
The PCB maker is getting pressured by steadily rising material costs, especially for copper, which caused its gross margin to plunge this year
China’s retail sales growth decelerated to 0.4% year-on-year in August, official data showed Tuesday, dragged down by tumbling auto purchases and a persistent property market slump.
The figure fell short of a 0.7% average forecast in a Caixin survey and slipped from July’s 0.6% pace, underscoring Beijing’s struggle to revive domestic demand despite multiple rounds of consumer trade-in subsidies.
Vehicle sales were the biggest drag on the headline figure. They plunged 18.5% year-on-year, a steeper drop than in July, as the initial boost from earlier trade-in policies faded.
Two major Chinese state-owned carmakers are moving to consolidate their resources in a push to revive growth in the country’s competitive auto market.
Under an agreement of intent signed on Monday, Guangzhou Automobile Group (HKG: 2238 / SHA: 601238 / FRA: 02G / OTCMKTS: GNZUF / GNZUY) will acquire “part of the equity interest” in a certain vehicle manufacturing joint venture held by FAW Jiefang Group Co Ltd (SHE: 000800) and raise supporting funds through the issuance of A shares, according to an exchange filing.
On Sept. 14, GAC disclosed that it had signed a letter of intent that day with FAW Co. Ltd., a wholly owned subsidiary of FAW Group. GAC plans to issue shares on the mainland to acquire the subsidiary’s stake in a joint venture (JV). Caixin has learned that the latter is FAW Toyota Motor Co. Ltd. Details of the deal remain under negotiation.
Once the transaction is completed, FAW Co. Ltd. will become GAC’s second-largest shareholder. GAC will remain under the effective control of Guangzhou’s state-owned assets authority.
A person close to GAC said the industry increasingly believes China’s auto market has largely exhausted its expansion phase, with domestic sales potentially contracting by 10% to 20% year-on-year by 2027. Against that backdrop, consolidation among state-owned automakers is beginning to take shape.
XPeng (NYSE: XPEV) is taking its latest SUV global just months after its domestic debut, as the Chinese electric vehicle maker turns more on overseas markets to drive its growth.
The mid- to large-sized G9L SUV, which hit the Chinese market last week, is expected to begin deliveries across more than 60 countries between October and December, according to Wu Anfei, general manager of XPeng’s product matrix. The domestic debut of the G9L comes just two months after the company simultaneously introduced its L03 SUV at home and abroad, underscoring its growing emphasis on international markets.
China Evergrande New Energy Vehicle Group Limited (HKG: 0708 / FRA: 4NM1) released a batch of overdue financial reports as it seeks to avoid delisting from the Hong Kong stock exchange, disclosing that it has exited automobile manufacturing entirely.
The filings underscore the collapse of the indebted property conglomerate’s electric-vehicle venture. Evergrande NEV is now operating as a small trading business focused on technical services and lithium-battery sales, with seven employees as of the end of June.
The leading second-tier online travel agent, alongside rival services operated by Alibaba (NYSE: BABA) and Meituan (HKG: 3690 / 83690 / SGX: HMTD / FRA: 9MD / OTCMKTS: MPNGF / MPNGY), are being investigated by China’s market regulator
Tongcheng Travel Holdings (HKG: 0780), along with second-tier online travel services operated by Alibaba and Meituan, are being probed for anti-competitive behavior
The probes come just two months after industry leader Trip.com(NASDAQ: TCOM) was fined 5.3 billion yuan for similar anti-competitive behavior
China’s fixed-asset investment dropped 7.2% year-on-year in the first eight months of the year, slightly worse than market expectations, as an enduring property crisis and summer extreme weather hampered construction and weighed on economic momentum.
The sustained decline underscores the challenges facing the country’s difficult transition from debt-fueled expansion to high-tech manufacturing.
The 7.2% contraction was steeper than the 6.7% drop recorded in the first seven months, National Bureau of Statistics (NBS) data showed Tuesday.
The pharmaceutical firm has gained traction with its first new drug and is seeking funds for further innovation, but its mainstay generics business is under pressure
Zhejiang Jingxin Pharmaceutical Co Ltd (SHE: 002020) has refiled for a Hong Kong listing, citing plans to invest in R&D and potential acquisitions to boost its pipeline of novel drugs
Revenue growth has stalled in recent years, and turnover slipped in the first half of 2026, although sales of the firm’s insomnia drug jumped nearly 177%
Ligent Technologies Inc (HKG: 9856), a China-based manufacturer of optical transceivers and optical network terminals, raised HKD 5,445m (USD 694m) from its global offering and will list on HKEX on Tuesday, September 22, 2026.
In our previous note, we looked at the deal terms and the company’s valuation.
In this note, we provide an update for the IPO before its trading debut.
The H-share ladder is Cambridge 12x, Ligent 16x, Innolight 20x. Hong Kong ranks quality and will not pay a leader multiple for a 24% gross margin and negative cash flow.
We are BEARISH and think share price will be under pressure. You can start Buying below HK$27, the Cambridge-H 12x floor; sell above HK$39, the leaders’ 17.5x.
Ligent Technologies develops, manufactures and sells optical transceivers, optical chips and optical network terminals across the full optical communication value chain.
We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.
ESWIN Computing, a RISC-V chip product provider, has passed the HKEX listing hearing and is seeking a Main Board listing. CITIC and CSC are the joint sponsors.
We look at the company’s core segments: human-machine interaction and multimedia processing chip products, and interconnectivity and computing chip products.
We then look at the company’s financial profile, loss-making status, pre-IPO valuation and investor backing.
Deloitte has raised its full-year forecast for Hong Kong initial public offerings to HK$480 billion ($61.2 billion), putting the city on track to surpass its historic fundraising record set in 2010.
While keeping its volume projection unchanged at roughly 160 listings, the accounting firm lifted its capital estimate by about 60% on Thursday, pointing to an influx of mega-deals and a crowded pipeline. The revised figure would eclipse the city’s previous high of HK$449.5 billion set 16 years ago and solidify Hong Kong’s position among the world’s top three IPO venues for 2026.
Hong Kong is stepping up efforts to position itself as the overseas launchpad for Chinese mainland companies, with mainland firms accounting for nearly 60% of the businesses its investment-promotion agency helped set up or expand in the city in the first half of 2026.
Invest Hong Kong assisted 413 companies in the first six months of the year, projects expected to bring more than HK$53 billion ($6.8 billion) of investment. Of those, 246 were from the Chinese mainland.
Hong Kong’s stock exchange has proposed easing its rules on major corporate transactions and spin-off listings to reduce compliance burdens and increase flexibility for listed companies.
Under the new proposals, the threshold for transactions requiring shareholder approval and a circular will double to 50% of an issuer’s total assets, revenue, or other metrics. Deals triggering a ratio between 25% and 50% will only require enhanced public announcements.
Goodbaby International Holdings Ltd (HKG: 1086 / FRA: GBH / OTCMKTS: GBBYF), a maker of juvenile products (strollers/pushchairs, child car seats), has announced an Offer, by way of a Scheme, from founder/chairman Song Zhenghuan.
Song is Offering HK$1.50/share, a 38.9% premium to last close. And a 53.06% premium to the 10-day VWAP (possible news leakage?).
The Offer price is final. Dividends will be netted. This transaction should be wrapped up in around four months, ahead of the 24th March 2027 long-stop.
Goodbaby International (1086 HK) is illiquid. Look away now if this is not your bag.
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The company plans to list a commercial real estate investment trust in Shanghai, making it Hong Kong’s first developer to issue a C-REIT on a Mainland stock market
New World Development Co Ltd (HKG: 0017 / FRA: NWDA / OTCMKTS: NDVLY)’s application to issue a C-REIT in Shanghai has received a notice of acceptance from the Shanghai Stock Exchange
The struggling Hong Kong developer expects to receive net proceeds of up to 3.2 billion yuan from the listing
🌐 Regencell Bioscience (NASDAQ: RGC)🇰🇾 – R&D & commercialization of Traditional Chinese Medicine (TCM) for the treatment of neurocognitive disorders & degeneration (ADD, autism, etc.).
Macau’s premium-mass casino segment had in September what Citigroup described as one of its weakest monthly table surveys in recent history, with total observed wager falling 45 percent year-on-year.
The banking group’s analysts George Choi and Timothy Chau said in a Sunday memo that total premium-mass wager seen in their September survey stood at HKD6.8 million (US$866,785), compared with HKD12.3 million a year earlier.
The number of premium-mass players observed declined 20 percent year-on-year, to 401. That implied an average wager per player of HKD16,958, down circa 31 percent from HKD24,550 in September 2025, according to Citi.
The latest findings represented a sharp reversal from August, when Citi’s survey showed total premium-mass wager observed rising 7 percent year-on-year, to HKD14.3 million, despite the number of players declining by 16 percent. Average wager per player had increased 27 percent year-on-year in August.
Over 20 luxury hotels in Macau – all housed within casino resort complexes – appear to have sold out their rooms for at least five nights of the upcoming National Day holiday period, also known as the October Golden Week.
For residents of the Chinese mainland the break covers seven days this time, i.e., October 1 to October 7 inclusive.
The snapshot of consumer demand for rooms during that period is based on GGRAsia checks of the official booking engines of those hotels.
Macau’s average daily casino gross gaming revenue (GGR) for the first 20 days of September was MOP610 million (US$75.5 million), a run-rate below market consensus. It also represented a circa 14-percent month-on-month decline that appeared to be led by “premium segments”, said banking institution UBS in its latest memo, citing its own channel checks.
The market consensus expectation for Macau’s September average daily GGR was circa MOP650 million to MOP670 million. Such a level, if realised, would represent a month-on-month decline of about 5 percent to 8 percent, while still being up circa 7 percent to 10 percent from a year earlier.
The average nightly rate for Macau’s five-star hotels in August was MOP1,477.6 (US$182.9), down 6.6 percent year-on-year. That is according to the latest information from the Macau Hotel Association, published by Macao Government Tourism Office (MGTO).
Average occupancy rate for the five-star hotels also dipped 2.7 percentage points year-on-year, to 94.2 percent in August.
The survey collected data from 49 association-member hotels, 28 of which are five-star properties. Most of the latter are within casino resort complexes. The remaining association members – in either the four-star or three-star category – include some hotels that are within casino resorts.
Wynn Resorts Ltd (NASDAQ: WYNN)’s chief executive Craig Billings, and the firm’s chief financial officer (CFO) Craig Fullalove, have each voluntarily reduced by 10 percent the cash amount of their base salary through to July 31, 2027. The move is in exchange for a grant of an equivalent value of options to acquire the casino operator’s common stock.
That is according to the casino company’s filings with the United States Securities and Exchange Commission. U.S.-based Wynn Resorts is the parent of Macau casino operator, Wynn Macau Ltd.
MGM Resorts International (NYSE: MGM), the United States-based parent of Macau casino concessionaire MGM China Holdings Ltd (HKG: 2282 / FRA: M04 / OTCMKTS: MCHVF / MCHVY), says it will continue as a “standalone company” after conglomerate People Inc withdrew its proposal to acquire all public shares of MGM Resorts it didn’t already own, and take the casino group private.
The June 1 takeover offer had valued MGM Resorts’ shares at a premium to their current market price.
Reuters and other business news outlets had said the proposal – which had been under negotiation across four months – had valued MGM Resorts at more than US$18 billion, including debt.
People Inc could make another offer for MGM Resorts International (NYSE: MGM) despite withdrawing its proposal to take the casino group private, says Seaport Research Partners.
In a Thursday note, analyst Vitaly Umansky said the media and Internet conglomerate, chaired by Barry Diller, remained “very optimistic” about MGM Resorts.
“We expect People Inc to continue acquiring stock” in the casino firm, wrote Mr Umansky, adding that he also expected MGM Resorts to resume its own share repurchase programme, which was paused after the takeover proposal was announced in June.
“In our view, it is possible that People [Inc] comes back with another offer in the future,” the analyst stated.
Covered call ETF market has been one of the fastest growing ETF sector in Korea in the past three years.
It is estimated that the covered call ETF net assets in Korea surged to about 28.5 trillion won at the end of June 2026, up 84x from end of 2024.
While the Korean stock market is trading sideways/gradually turning higher since early August, there may be a greater interest in these covered call ETFs.
South Korea’s government has expanded a loan scheme for casino operators, allowing them for the first time to borrow from the country’s Tourism Promotion and Development Fund for construction work or certain other forms of investment in facilities.
Casino operators were already eligible for loans to cover operating expenses. The revised guidelines from the Ministry of Culture, Sports and Tourism – the department overseeing the nation’s casino sector – establish a separate category of loans for investment in facilities.
The fresh guidelines – reviewed by GGRAsia – come amid a proposal from the national government to increase to 15 percent the maximum share of annual gross gaming revenue that individual casino venues must contribute to the tourism fund.
FnGuide Inc (KOSDAQ: 064850) announced a significant improvement in its new Corporate Value-Up program. The changes are meaningful and likely to have positive impact on share price.
FnGuide also plans on share buyback and cancellation of 15 billion won over the next three years (2026 – 2028).
FnGuide raised total shareholder returns to 40% or higher from 2026 to 2028. Previously, FnGuide did not explicitly mention the total shareholder returns, other than the 25%+ dividend payout ratio.
Won Tech Co Ltd (KOSDAQ: 336570)’s exports increased by 59.8% YoY in 2025 and by 21.5% YoY in 1H 2026. The company’s export sales to the U.S. increased sharply in 1H 2026.
Won Tech is currently trading at P/E of 9.8x and P/B of 2.2x based on 2026 consensus earnings estimates (50% to 60% discount to its historical valuation multiples).
Won Tech provides medical aesthetics and surgical devices. The company’s products specializes in the laser and energy based medical solutions used for skin rejuvenation and face lifting procedures.
On 22 September, KT&G Corp (KRX: 033780) or Korea Tobacco & Ginseng Corporation announced that it plans to buyback and cancel 2.07 million shares (about 2% of outstanding shares) worth 360 billion won.
The Kazakhstan market is a prime example. KT&G began commercial production in Kazakhstan in March 2025. Its local market share expanded from 5.1% in 2022 to 9.6% in 2025.
KT&G launched the “Lil Tonino Lamborghini” on 15 September in Korea. This product reduces the preheating time to 3 seconds versus competing products that typically take 10 to 20 seconds.
In this insight, I provide an investment thesis on Doosan Enerbility (KRX: 034020) which is a Korean nuclear powerhouse.
In addition, I highlight the likely pre-IPO investment in Westinghouse Electric (US) which is likely to occur in 4Q 2026/1Q 2027.
Despite the long-term higher demand for nuclear and SMRs made by Doosan Enerbility, I remain wary of the company’s high valuation multiples and worsening balance sheet.
Bosung Power Technology Co Ltd (KOSDAQ: 006910) is a Korean power-equipment manufacturer of transmission towers, steel structures for power plants and substations, gas-insulated switchgear, pole-mounted transformers and other electrical equipment.
The company’s operations have remarkably improved in the past three years as it has been one of the beneficiaries of Korea’s aggressive investments in the high-voltage direct-current (HVDC) transmission infrastructure.
The company’s sales and profits worsened in 1H 2026 after record breaking results in 2025. Bosung Powertech looks fairly valued now at P/E of 20x and P/B of 3.1x.
In this insight, I discuss the impact of the potential inclusion of SK Hynix (KRX: 000660 / NASDAQ: SKHY) ADR in the NASDAQ 100 rebalance in December 2026.
There are 17 other companies in the NASDAQ 100 Index which have lower market cap than SK Hynix’s ADR capitalization.
I believe there is a high probability (80-90%+) of SK Hynix (SKHY US) ADR inclusion in the NASDAQ 100 Index in December 2026.
SK Hynix (KRX: 000660 / NASDAQ: SKHY)gained 11.2% in September MTD and its 2x Leveraged Index rose 20.9%, but combined AUM increased only 10% as redemptions offset performance.
Units outstanding fell across all seven long leveraged ETFs. In contrast, units in the inverse product more than doubled and its market capitalisation rose 56%, despite negative performance.
Annualised 21-day volatility more than halved from its late-July peak of 179% to 55%. The decline coincided with the collapse in ETF trading activity and fund flows following regulatory changes.
In the past several months, Hanwha Group companies purchased additional shares in Korea Aerospace Industries (KRX: 047810) so their combined stake is now 15.89%.
Hanwha Aerospace (KRX: 012450) owns 9.9% stake in KAI, followed by Hanwha Systems (4.98%), and Hanwha Aerospace USA (1.01%).
I provide four main scenarios of the potential next moves by the Hanwha Group companies regarding Korea Aerospace Industries.
The decision follows a strategic review of the portfolio that new sponsor Tang Organization launched in March.
Keppel REIT sells Seoul office at a healthy premium
Keppel REIT (SGX: K71U / OTCMKTS: KREVF) announced on 23 September 2026 that it will divest its 99.38% stake in T Tower, a freehold Grade A office building in Seoul, to a South Korea-based real estate fund.
MAS flags AI downturn risk for one-third of listed firms
Brent crude above US$100 is creating winners and losers among Singapore stocks, benefiting oil producers and banks while pressuring REITs and airlines.
Upstream Producers and Offshore Yards – The Winning Leaders
For investors, RH Petrogas Ltd (SGX: T13), a small oil and gas producer with a market capitalisation of about S$142 million, may be one to watch.
Beyond pure oil producers, offshore and marine engineering giant Seatrium Ltd (SGX: SE2 / FRA: S8N / OTCMKTS: SMBMF) stands to benefit as higher oil prices encourage investment in offshore energy infrastructure.
Fuel is Singapore Airlines, or SIA’s, single highest cost, and the current spike has already shown up in the numbers, even though the national carrier hedges a portion of its fuel costs as a buffer.
Can each of these businesses maintain its payout at these levels?
What is driving UHREIT’s higher distribution?
Can Boustead Singapore sustain its record payout?
Boustead Singapore, whose corporate history traces back to 1828, operates across real estate, geospatial technology, energy engineering, and healthcare.
Is HRnet’s dividend increase backed by operations?
Get Smart: What separates a repeatable dividend from a one-off special?
Three Singapore blue-chip stocks raised quarterly dividends by up to 25%, but investors should look beyond the headline increases to their sustainability.
We analyse five leading dividend stocks across yield, dividend sustainability, earnings growth, balance-sheet strength and valuation to see which stand out.
How We Analysed the Five Stocks
We look at dividend yield (current, versus its historical range), sustainability (payout ratio, free cash flow coverage, earnings stability), growth (five-year dividend trend, history of cuts or increases); and financial strength (net cash/debt, interest coverage).
Meanwhile, Olam Group Ltd (SGX: VC2 / FRA: K25 / OTCMKTS: OLGPF) took a drastically different approach: the food and agribusiness group cut its ordinary interim dividend in half but made up for it with a special dividend funded by selling off key assets.
Not all extra payouts are created equal.
What is driving DBS’s extra payout?
How long can SGX keep raising its dividend?
Will Olam’s special dividend recur?
Get Smart: How do you tell a lasting payout from a one-off?
SGX, ST Engineering and Sembcorp Industries raised dividends by at least 22%, putting three Temasek-backed blue chips in focus for income investors.
Temasek, a global investment company headquartered in Singapore, holds a 23.3% stake in Singapore Exchange Limited(SGX: S68 / FRA: SOU / SOUU / OTCMKTS: SPXCF / SPXCY) via SEL Holdings.
Three SGX small-cap stocks are paying dividends before October 2026, but investors should look beyond the payout dates to understand what each dividend signals.
What is behind QAF’s maintained dividend?
QAF Ltd (SGX: Q01) is a regional food group best known for its consumer staples, including Gardenia-branded bread and Cowhead dairy products.
The group operates across Singapore, Malaysia, the Philippines, and Australia.
How much of Boustead Singapore’s record payout can investors count on?
Boustead Singapore (SGX: F9D / OTCMKTS: BSTGF), founded in 1828, holds the title of Singapore’s oldest continuously operating business.
Today, the conglomerate operates four key divisions: Real Estate Solutions, Geospatial, Energy Engineering, and Healthcare.
What supports HRnet’s 10% dividend increase?
HRNetGroup (SGX: CHZ) is a pan-Asian recruitment and staffing firm employing 1,136 people across 41 business units in 19 Asian cities.
The group places both permanent and contract talent, complemented by its growing recurring-services segment housing the Octomate, YesPay!, and Doudou platforms.
S$10,000 is enough to get started with dividend investing, giving you a chance to build both passive income and long-term wealth. Here are three Singapore-listed companies I would consider today, based on their dividend track records, business quality, growth potential and valuations.
The focus is on business quality and to diversify across businesses with different characteristics.
Five Singapore dividend stocks offer quarterly payouts, but investors should look beyond payment frequency to earnings, cash flow and balance sheet strength.
Investors should pay attention not only to distributions per unit (DPU), but also to occupancy and interest coverage.
This is because these metrics show how comfortably a REIT can support its distributions.
ST Engineering, or STE, is a technology, defence and engineering solutions group operating mainly across commercial aerospace, security and urban solutions, providing a more defensive income angle.
United Hampshire US REIT, or UHREIT, holds a portfolio of 21 grocery-anchored and necessity-based retail properties alongside two self-storage facilities in the United States.
Payout date for unitholders is set for 28 September 2026.
Determining which bank looks strongest requires looking beyond headline figures to examine their underlying profitability, asset quality, dividend sustainability, and growth prospects.
The Three Banks at a Glance
The Financial Snapshot
DBS: The Profitability Leader
OCBC: The Diversification Advantage
UOB: The ASEAN Growth Play
Head-to-Head: Earnings and Balance Sheets
Dividend Battle and Growth Runways
Interest Rates and Valuation
Get Smart: The Strongest Bank Isn’t Just the Biggest
Sheng Siong Group (SGX: OV8 / OTCMKTS: SHSGF) is growing profits, dividends and stores. Can its S$520 million Sungei Kadut distribution centre drive the next phase of growth?
Where is Sheng Siong’s growth coming from?
How many more stores are on the way?
What will the Sungei Kadut centre do for Sheng Siong?
What price will Sheng Siong pay, and can it afford it?
AEM Holdings (SGX: AWX) has delivered over 443% YTD returns in 2026. Explore its semiconductor test business, latest results and what could drive the stock next.
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Foreign investors have oversold the correction, the billionaire investor says in our latest India Business Briefing Q&A
Good morning. After a two-year slump, is India due a stock market boom? One person who thinks so is Raamdeo Agrawal, chair and co-founder of one of India’s largest integrated capital market services firms, Motilal Oswal. Agrawal has been investing in the Indian stock markets since 1987. Across its various businesses, Motilal Oswal has assets under advice worth Rs6.6tn ($69bn) for nearly 16mn clients. I sat down with Agrawal for this month’s India Business Briefing Q&A to understand what the prospects of a market turnaround really are.
Shiprocket Pvt Ltd (NSE: SHIPROCKET / BOM: 544871) delivered 34% YoY revenue growth in Q1 FY27, while Adjusted EBITDA rose nearly 9x to INR 8.9 crore as the core business gained operating leverage.
The bigger story is emerging businesses, where revenue grew 70% YoY to INR 180 crore, led by MarTech and omnichannel services.
With 2.24 lakh+ active merchants, 216 million quarterly transactions and a wider product stack, Shiprocket is trying to capture more value from every merchant.
Molycop has transformed Tega Industries Ltd (NSE: TEGA / BOM: 543413) from a INR 1,800 Crore Business into a Global Mining-Consumables Platform with much Larger Scale and Reach.
The key opportunity is not just Molycop’s earnings, but Cross-Selling, Cost Synergies, Margin Improvement and Gradual Debt Reduction.
Q1 FY27 gives an encouraging starting point, but the next 2 to 3 years will decide whether the acquisition creates the expected value.
H1 CY26 revenue reached about Rs. 506 crore, helped by a 35% YoY Q2 surge. The board has also approved a Rs. 56 crore Ankleshwar expansion.
Growth is broadening beyond legacy wire-enamel demand into high-voltage resins, tapes, electronics materials, CTC applications, e-mobility and BESS-related thermal-management chemistries.
The business now has more visible reinvestment avenues, but a market value above Rs. 10,000 crore already discounts a material portion of future execution.
On 23 September 2026 IRDAI proposed product- and channel-wise commission caps and a five-year EoM glide path, reversing the 2023 uncapped-commission regime.
PB Fintech (NSE: POLICYBZR / BOM: 543390)fell about 36% and Turtlemint hit a 20% circuit on 24 September as take-rate math, not just conduct risk, became the valuation variable.
This is still a consultation, open until 25 October. The draft as written hits open-architecture platforms harder than tied agents and forces a cost and mix reset.
Financial advisory firms have yet to secure licences under regional headquarters programme, a key government initiative
Companies active in the Middle East that did not establish their regional HQ in Riyadh risked losing business from government entities, including the country’s $900bn sovereign wealth fund.
Preceding my comments on Prosus/Tencent/Naspers (JSE: NPN / FRA: NNWN / NNW0 / OTCMKTS: NAPRF / NPSNY) are the current setup/unwind tables for Asia-Pacific Holdcos.
These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation >20%.
🇦🇷 🇲🇽Vista Energy(NYSE: VIST / FRA: 1CIA / BMV: VISTAA)’s – Mexico HQ’d. Main asset in Argentina is the largest shale oil & shale gas play under development outside North America.🏷️
🌐 Nebius Group NV (NASDAQ: NBIS) – AI-centric cloud platform built for intensive AI workloads. Sold Yandex to a consortium of Russian investors. Retains several businesses outside of Russia. 🇼🏷️
Note: Investing.com has a full calendar for most global stock exchanges BUT you may need an Investing.com account, then hit “Filter,” and select the countries you wish to see company earnings from. Otherwise, purple (below) are upcoming earnings for US listed international stocks (Finviz.com):
Frontier and emerging market highlights from IPOScoop.com and Investing.com (NOTE: For the latter, you need to go to Filter and “Select All” countries to see IPOs on non-USA exchanges):
Climate change and ESG are some recent flavours of the month for most new ETFs. Nevertheless, here are some new frontier and emerging market focused ETFs:
I have changed the front page of www.emergingmarketskeptic.com to mainly consist of links to other emerging market newspapers, investment firms, newsletters, blogs, podcasts and other helpful emerging market investing resources. The top menu includes links to other resources as well as a link to a general EM investing tips / advice feed e.g. links to specific and useful articles for EM investors.
Disclaimer. The information and views contained on this website and newsletter is provided for informational purposes only and does not constitute investment advice and/or a recommendation. Your use of any content is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the content. Seek a duly licensed professional for any investment advice. I may have positions in the investments covered. This is not a recommendation to buy or sell any investment mentioned.
Emerging Market Links + The Week Ahead (September 28-October 2, 2026) was also published on our website under the Newsletter category.
