Finance

Singapore stocks rose on May 13, pushing the STI up 1.2%. Wilmar International led gains, while Genting fell sharply after reporting a significant drop in first-quarter net profits. Local banks also posted notable increases, contributing to the overall market uplift.

Mary Chia Holdings faces mounting financial woes amid insolvency claims from creditor Fullink Capital over a $902k debt. The company also grapples with unresolved audit issues due to staff turnover and declining revenue, forcing it to pivot its business model for survival.

Flexible workspace operator JustCo plans an IPO on the Singapore Exchange to fund its regional expansion across Asia. The listing capitalizes on the global shift toward hybrid work, meeting rising demand for flexible and decentralized office solutions throughout the region.

Singapore stocks gained ground on May 4, with the Straits Times Index rising 0.2% to 4,924.31 points. Venture Corp led the gains, while CapitaLand Investment declined after trading ex-dividend. Regional indices also showed positive momentum across Asian markets.

Singapore is exploring ways to safely grant retail investors access to private markets through new frameworks, emphasizing the need for investor education, strict regulatory guardrails, and transparent risk disclosures.