Daily Brief Singapore: Rubber Future SGX TSR20, ISDN, MetaOptics, United Overseas Bank and more

Highlights

• Rubber prices are likely to stay softer amid improving supply and weaker demand in the near term

•  El Nino has already reduced rain in the Indian monsoon and casts doubts over the Southeast Asian outlook

•  Inventory drawdown amid softer imports points to cautious downstream approach amid geopolitical risks

• ISDN Holdings (“ISDN” or “The Group”) is an industrial automation company that offers a full range of advanced automation solutions and services.
• These solutions and services range from precision components and engineering services to full machine and cloud solutions.
• Its components and systems power semiconductor factories, advanced medical devices, clean energy plants, electric vehicles and more across Asia.

• MetaOptics Ltd is a Singapore-based, early-stage, vertically integrated optics company that designs and manufactures metalenses — ultra-thin, flat “metasurface” lenses that steer light with nanoscale structures in place of bulky curved glass — together with the equipment to make and test them and metalens-based products (IoT cameras, smart glasses, 5G camera modules).
• It operates across four business groups: Metalens Equipment, Metalens Foundry, Metalens Products and MetaOptics AI.
• The optical metalens industry is nascent but fast-growing, positioned as a potential disruptor to the traditional optical lenses industry.

• The IMF projects Singapore’s GDP growth to moderate from 5.0% in 2025 to 2.7% in 2027, driven by technology-related exports and investment.
• Gross capital formation is expected to rise from 22.5% of GDP in 2025 to 23.7% in 2027, supported by infrastructure and manufacturing investment.
• Singapore’s banking sector remains well-capitalised with a capital adequacy ratio of 18.5% in 2Q25, supporting economic stability.