Corporate Updates - Singapore Exchange (SGX) - Insights

Date	Company	Event Details	Sector	Event Summary
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
9 Feb, 2026	Nanyang New Development	Nanyang New Development has announced plans to diversify into gold bullion brokering and jewellery retail through a proposed US$1 million investment in Gold Bar Pte Ltd, a registered precious metals dealer incorporated in 2023. The company will take a 55% stake, with the remainder held by existing owner Tony Soh and other investors, and will commit the capital in stages starting with US$190,000. The move aligns with Nanyang’s strategy to pursue short-term investments in high-growth opportunities and marks its entry into commodities trading. Formerly known as Matex International, the group has been repositioning its business model following recent corporate changes, including a planned issuance of US$4.16 million in convertible notes that could significantly reshape its shareholder base if fully converted.	Specialty Chemicals	Business Venture
9 Feb, 2026	DBS Group Holdings	DBS Group Holdings has increased its stake in Shenzhen Rural Commercial Bank to 19.9% from 19.4% through the acquisition of 52.2 million shares for RMB310 million (about US$58 million), equivalent to RMB5.94 per share or 1.05 times the Chinese bank’s book value as at June 30, 2025, with the purchase fully funded by internal cash. The move continues DBS’s multi-year strategy to deepen its presence in large emerging markets, following its initial 13% stake acquisition for US$1.1 billion in October 2021 and subsequent increases to 16.69% in January 2024 and 19.4% in November 2025, while DBS shares closed 1.87% lower at S$58.19 on Feb 9.	Banks - Regional	Merger & Acquisition

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

9 Feb, 2026

Nanyang New Development

Nanyang New Development has announced plans to diversify into gold bullion brokering and jewellery retail through a proposed US$1 million investment in Gold Bar Pte Ltd, a registered precious metals dealer incorporated in 2023. The company will take a 55% stake, with the remainder held by existing owner Tony Soh and other investors, and will commit the capital in stages starting with US$190,000. The move aligns with Nanyang’s strategy to pursue short-term investments in high-growth opportunities and marks its entry into commodities trading. Formerly known as Matex International, the group has been repositioning its business model following recent corporate changes, including a planned issuance of US$4.16 million in convertible notes that could significantly reshape its shareholder base if fully converted.

Specialty Chemicals

Business Venture

9 Feb, 2026

DBS Group Holdings

DBS Group Holdings has increased its stake in Shenzhen Rural Commercial Bank to 19.9% from 19.4% through the acquisition of 52.2 million shares for RMB310 million (about US$58 million), equivalent to RMB5.94 per share or 1.05 times the Chinese bank’s book value as at June 30, 2025, with the purchase fully funded by internal cash. The move continues DBS’s multi-year strategy to deepen its presence in large emerging markets, following its initial 13% stake acquisition for US$1.1 billion in October 2021 and subsequent increases to 16.69% in January 2024 and 19.4% in November 2025, while DBS shares closed 1.87% lower at S$58.19 on Feb 9.

Banks - Regional

Merger & Acquisition