Singapore Daily Briefing

BYD has taken a quarter of all new car registrations in Singapore, with electric vehicles now accounting for 62.4% of total new car sales — a figure that would have seemed implausible three years ago when EVs were under 5% of registrations. Business Times SG reports China brands and Tesla are racing up the charts as traditional carmakers lose ground. For Singapore investors, the read-through extends beyond auto stocks: EV infrastructure (charging network operators), electricity grid capex, and real estate REITs with parking exposure to charging revenue are the next-order plays. The speed of this adoption curve — from <5% to 62.4% in roughly three years — suggests Singapore's grid and property management industries are in structural capex catch-up mode.

iFast Corporation reported Q2 net profit of S$29.8 million, up 35% YoY, with its directors proposing a dividend of S$0.03 per share, up from S$0.02 in the year-ago period. Business Times SG notes the result reflects strong AUM growth on its digital wealth platform across Singapore, Hong Kong, and China. The 35% earnings acceleration in a quarter where global tech is under pressure from US tariff risk and Middle East macro anxiety is a quality signal: iFast is a domestic-consumption, fee-based revenue model less exposed to manufacturing supply-chain shocks. For Singapore equity investors tracking the local tech-adjacent names, iFast demonstrates that fintech wealth platforms compound through volatility rather than being correlated to it. S-REIT yield comparison remains iFast's primary competition for income-seeking SGX investors.

Changi Airport reported 17.2 million passenger movements in Q2 2026, down 1.5% year-on-year — the first quarterly dip after a strong post-COVID recovery period. Business Times SG notes H1 is still up 0.4% overall despite the Q2 softness. The drivers of the quarterly slip: Middle East travel disruption from the Iran conflict pulling long-haul transit traffic, and weakness in Chinese outbound tourism specifically given domestic economic caution. For Singapore Airlines (SIA), where the Air India investment is absorbing board attention per the chairman's AGM commentary, the Changi traffic data confirms that the network demand environment is stable but not accelerating. SIA's Air India exposure gives it a traffic leverage play if India-inbound and India-outbound routes recover — but oil above $100/barrel compresses SIA margins simultaneously.