In today’s briefing:
- On Jardine Matheson’s Latest Buyback
- REIT Watch – Industrial S-REITs deliver stable operating performance in Q3
- Malaysia’s Glove Sector Gradually Recovers Amid Trade Shifts
- Q&M, UOL & CLCT Directors Build Stakes
On Jardine Matheson’s Latest Buyback
- On the 27th October, Jardine Matheson Holdings (JM SP) announced an Offer for 88.04%-held Mandarin Oriental International (MAND SP), after MAND concurrently announced the partial sale of OCB to Alibaba.
- MAND will pocket US$925mn from the sale. The privatisation will set Matheson back ~US$500mn. Alibaba is ostensibly funding MAND’s privatisation. And then some.
- Last week Matheson announced it will undertake a US$250mn buyback, which is expected to complete in 2026.
REIT Watch – Industrial S-REITs deliver stable operating performance in Q3
- Industrial S-REITs in Singapore showed stable performance in Q3 2025, with positive rental reversions and stable occupancy.
- Alpha Integrated REIT’s DPU increased by 38.4% year-on-year, while ESR REIT’s distributable income rose by 6.8%.
- Mapletree Industrial Trust’s DPU declined by 5.6% due to absence of divestment gain and foreign exchange headwinds.
Malaysia’s Glove Sector Gradually Recovers Amid Trade Shifts
- Glove demand rebounds as inventories normalize
- US tariffs boost Malaysian manufacturers’ market share
- Automation drives efficiency, supporting margin recovery
Q&M, UOL & CLCT Directors Build Stakes
- Institutions were net sellers of Singapore stocks with a S$96 million outflow, led by REITs and Financial Services.
- Nine companies conducted share buybacks totaling S$16.4 million, with United Overseas Bank buying back 240,000 shares.
- Director transactions included 40 filings, with seven acquisitions by directors or CEOs and eight by substantial shareholders.
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