SMID Research · evidence libraries

Cross-company · free public series · as at 2026-09-25

What you can watch yourself

Every other test in these libraries waits for a company to file. These do not.

Each company page carries the signals that bear on that company. This page turns the same registers the other way round, because a reader holding several of them has a different question: one series moved — which of these companies does it touch? 38 series reach 27 of the 39 libraries between them. Every level below is the last one recorded, with the date it was read. Where a row has a calibrated operating reference, its trigger levels are derived from what that company's own economics were set against; and every series states what it cannot tell you, once, above the companies it reaches.

BCA total construction demand, S$ billion of contracts awarded

Building and Construction Authority, Singapore · event · independent economic indicator · reaches 6 companies

50 S$bn as at 2026-01-22. Check it — BCA's January construction-prospects release; read total construction demand, and the August review that revises it.

CompanyAssumesWatch / alertNowWhat it cannot tell you
ISOTeamSGX: 5WF · building maintenance and estate upgrading50.5 S$bn
2025
47 / 39
on a move below
inside the rangeThis is the wrong series to read literally for this company, and FY2026 shows why. National construction demand was at a decade high while the group's Repairs and Redecoration revenue fell to its lowest level since FY2018, because R&R and A&A demand is set by statutory repainting and estate-upgrading cycles on an existing housing stock, not by new-build awards. BCA's total is dominated by civil, institutional and private commercial work the group does not bid for. It tells you whether the public purse is open; it does not tell you whether the repainting cycle is reaching this contractor.
Keong Hong HoldingsSGX: 5TT · building construction50.5 S$bn
2025
47 / 39
on a move below
inside the rangeBCA reports the national public-and-private award pool, not Keong Hong's tender set. The series cannot identify which contracts Keong Hong wins, bid discipline, project timing or margin, and the existing order book can insulate near-term revenue from a change in the current award cycle.
Lincotrade & Associates HoldingsSGX: BFT · commercial and residential interior fit-out50.5 S$bn
2025
47 / 39
on a move below
inside the rangeTotal construction demand is dominated by public civil works, housing and the mega-projects (Changi Terminal 5, Tuas port, MRT lines) that this company does not fit out; the commercial and institutional fit-out pool can shrink while the total rises, and one data-centre or office award moves Lincotrade's intake more than a S$5bn change in national demand does. Lincotrade's share of national demand is about 0.25% and volatile, so the sign of the effect is defensible and the coefficient is not.
OKP HoldingsSGX: 5CF · civil engineering and road maintenance50.5 S$bn
2025
47 / 39
on a move below
inside the rangeTwo things break the read here, and the first is sharper than it looks. BCA splits public from private demand in the same release, but OKP's OWN split is undisclosed: the 98.5% figure in the filings is construction and maintenance as a share of revenue — an activity share taken from the auditor's key audit matter — not a public-sector share of the order book. So the national total cannot be mapped onto this company's addressable work in either direction, and reading the public column as though it were OKP's market would be the same substitution the filings do not support. Second, the net construction order book stood at S$797.9m on 13 August 2026 and runs to 2031, so near-term revenue is contracted and insulated — a weak award year would show up in the book long before it showed up in revenue.
Pan-United CorporationSGX: P52 · ready-mixed concrete50.5 S$bn
2025
47 / 39
on a move below
inside the rangeConstruction demand is the nominal value of contracts AWARDED, not work done: the company's page already records that BCA publishes no lag interval between award and output, so this series cannot time revenue. It is also a national aggregate, and a single large public award can move it without touching this company's addressable work.
Tiong Woon CorporationSGX: BQM · Singapore heavy-lift and haulage demand50.5 S$bn
2025
47 / 39
on a move below
inside the rangeConstruction demand is the nominal value of contracts awarded, not work done or crane-tonnes. A large public award can move the series without creating Tiong Woon revenue, and the series cannot measure pricing, market share or collection.

Gold market reference (OTC/CFD), USD per troy ounce

Trading Economics (OTC/CFD market reference; LBMA benchmark averages used as the anchors) · daily · independent economic indicator · reaches 5 companies

4,270 US$/oz as at 2026-09-24. Check it — The headline gold price, in US dollars per troy ounce. It is an OTC/CFD market reference, not an official benchmark.

What it cannot tell you. Gold sets the size of the loan advanced against a pledge and the value of metal inventory; it does not set the number of pledges or the footfall through the shops. A rally alongside falling volumes can leave interest income flat. The level here is an OTC/CFD market reference, while the anchors are LBMA benchmark annual averages, so read the gap between them as approximate at the margin, never to the dollar.

CompanyAssumesWatch / alertNowWhat it points to there
Aspial LifestyleSGX: 5UF · pawnbroking and jewellery retail3,432 US$/oz
2025
3,432 / 2,386
on a move below
inside the rangeGold is the master variable behind pledge ticket size, retail demand, retail inventory value and redemption behaviour: four exposures on one factor.
MoneyMax Financial Services LtdSGX: 5WJ · pawnbroking and gold/luxury3,432 US$/oz
2025
3,432 / 2,386
on a move below
inside the rangeGold influences pawn ticket size, collateral value, forfeited-stock value and wholesale gold turnover.
Taka Jewellery HoldingsSGX: 42L · jewellery and pawn lending3,432 US$/oz
2025
3,432 / 2,386
on a move below
inside the rangeGold moves reported revenue through the selling price and simultaneously inflates the inventory and pledge book the company must fund.
ValueMax GroupSGX: T6I · pawnbroking and retail3,432 US$/oz
2025
3,432 / 2,386
on a move below
inside the rangeGold sets the advance against a pledge, so it points to ticket size, book growth and the value of forfeited stock flowing into retail.
Well Chip GroupBursa: WELLCHIP · pawnbroking and gold recovery3,432 US$/oz
2025
3,432 / 2,386
on a move below
inside the rangeGold sets the appraised value each advance is sized against, at up to the disclosed 95 per cent maximum, so it moves ticket size, book growth and the resale value of the forfeited stock the group buys in at auction and sells on by weight.

LME copper three-month closing price, USD per tonne

London Metal Exchange · daily · market-price context · reaches 4 companies

14,618 US$/t as at 2026-09-23. Check it — In the LME Closing Prices table, read Copper in the 3-month column, in USD per metric tonne. Use the Data valid for date, not the page date or the separate copper-page headline.

What it cannot tell you. The exchange closing price is market context, not the company's purchase cost. Procurement timing, inventories, hedges, product mix and customer pass-through can separate it from reported margins. The 10 September 2026 correction withdraws the former watch/alert bands: their sources were not verified on a comparable benchmark, and no company-specific cost threshold was established. Check the next margin disclosure and management's explanation before inferring an earnings effect.

CompanyReferenceThreshold statusNowWhat it points to there
AUX Electric Co., Ltd.HKEX: 2580 · cooling equipment manufactureNo verified historical comparison retainedNo calibrated operating threshold14,618Copper-bearing compressor parts, coils and tubing create input-cost exposure in cooling equipment manufacture.
Changhong Meiling Co., Ltd.SHE: 000521 · household appliance manufactureNo verified historical comparison retainedNo calibrated operating threshold14,618Compressors, motors and wiring are copper-intensive across the refrigeration and air treatment lines.
Zhejiang DunAn Artificial Environment Co., Ltd.SHE: 002011 · refrigeration componentsNo verified historical comparison retainedNo calibrated operating threshold14,618Valves and fittings are copper and brass, so the metal price moves the input cost of the core component line.
Zhongshan Broad-Ocean Motor Co., Ltd.SHE: 002249 · micro and special motorsNo verified historical comparison retainedNo calibrated operating threshold14,618Motor windings are copper-intensive, so the metal price moves the bill of materials on the largest product line.

3-month compounded SORA, per cent per annum

Monetary Authority of Singapore, quarterly reading republished by Propkaki · quarterly · independent economic indicator · reaches 2 companies

1.06 % as at 2026-06-30. Check it — Read the headline 3-month compounded figure and the quarter-end date shown on the current-SORA page.

CompanyAssumesWatch / alertNowWhat it cannot tell you
MoneyMax Financial Services LtdSGX: 5WJ · funding1.2 %
mid-December 2025
2.2 / 3
on a move above
at or better than assumedSORA covers only relevant floating or newly priced SGD funding. Fixed-rate notes, Malaysian-ringgit debt, lender spreads and already issued commercial paper can behave differently.
ValueMax GroupSGX: T6I · funding1.2 %
mid-December 2025
2.2 / 3
on a move above
at or better than assumedIt prices the floating and short-dated tranche only. The fixed-rate notes and any commercial paper already rolled are untouched until they mature, so a move here reaches the reported cost of funds gradually and partially.

China new-energy vehicle monthly production, thousand units (CAAM)

China Association of Automobile Manufacturers, reported by CnEVPost · monthly · independent economic indicator · reaches 2 companies

1,576 k units/month as at 2026-07-31. Check it — CAAM's monthly release, published around the 10th-12th; read NEV production, not sales.

What it cannot tell you. This is national NEV output across every maker. A components supplier's own volumes depend on which platforms it is designed into, and a supplier can lose content on a winning platform while national output rises. It also says nothing about price: NEV component tenders in China have repriced downward through periods of rising volume.

CompanyAssumesWatch / alertNowWhat it points to there
Zhejiang DunAn Artificial Environment Co., Ltd.SHE: 002011 · thermal management1,385 k units/month
2025
1,385 / 1,100
on a move below
at or better than assumedThe thermal-management line supplies valves and assemblies into vehicle cooling loops, so national NEV output points to the direction of that segment's volumes.
Zhongshan Broad-Ocean Motor Co., Ltd.SHE: 002249 · vehicle electrical and drive systems1,385 k units/month
2025
1,385 / 1,100
on a move below
at or better than assumedThe automotive lane supplies drive motors and assemblies into new-energy platforms, so national NEV output points to the direction of its volumes.

AUD SGD noon exchange rate

MAS · daily · market-price context · reaches 1 company

0.9085 SGD per AUD as at 2026-09-22. Check it — Open MAS exchange rates, choose the date range and Frequency: Daily, tick Australian Dollar under S$ per 100 units and press Display; divide the quoted figure by 100 for SGD per AUD.

What it cannot tell you. FX does not reveal settlement volumes or margins; project debt and hedges can change net exposure independently.

CompanyReferenceThreshold statusNowWhat it points to there
Ho Bee LandSGX: H13 · development0.9126 SGD per AUD
2026-09-08
No calibrated operating threshold0.9085AUD weakness reduces translated positive Australian margins and asset values; local costs and debt partly offset exposure.

BCA Building Works Tender Price Index (2010 = 100)

Building & Construction Authority (BCA), Singapore · quarterly · independent economic indicator · reaches 1 company

142 index points (2010 = 100) as at 2026-06-30. Check it — On the BCA Key Construction Information page open the PDF 'Construction Demand, Tender Price Index & Construction Materials' and read the Tender Price Index row for the latest quarter.

What it cannot tell you. The index measures the market's price level for building works generally, not the mix, size, risk allocation or margin of the projects Soilbuild itself wins; winning work in a rising market says nothing about the terms on which it was taken.

CompanyAssumesWatch / alertNowWhat it points to there
Soilbuild Construction GroupSGX: ZQM · construction139 index points (2010 = 100)
FY2025
138 / 131
on a move below
at or better than assumedTender prices are the level at which building work is re-priced: a sustained decline caps the value of new awards and can freeze cost escalation already in the book, pressuring construction margins a quarter or two before the effect shows in awards.

BCA construction material market prices - steel reinforcement bars (16-32mm high tensile), delivered to site

Building & Construction Authority (BCA), Singapore · monthly · independent economic indicator · reaches 1 company

675 S$ per tonne as at 2026-08-31. Check it — In the same BCA statistics PDF, read the 'Steel Bars (16-32mm High Tensile)' column of the 'Construction Material Market Prices' table for the latest month.

What it cannot tell you. The series is a delivered-to-site market assessment for standard 16-32mm high-tensile bar, not the group's contracted prices; supply contracts, fixed-price periods, cut-and-bend surcharges and the mix of precast versus cast-in-place consumption all sit between this number and the group's cost line.

CompanyAssumesWatch / alertNowWhat it points to there
Soilbuild Construction GroupSGX: ZQM · precast690 S$ per tonne
2025
759 / 828
on a move above
at or better than assumedSteel is a core input to precast elements and cast-in-place structures: a sustained rise in the delivered bar price raises materials cost on both divisions and, absent pass-through terms or substitution, compresses margin as the work is executed.

Baltic Handysize Index average daily earnings, USD per day

Baltic Exchange, reported daily by HandyBulk · daily · independent economic indicator · reaches 1 company

17,876 US$/day as at 2026-09-21. Check it — The daily Baltic report; read the handysize line, both the index points and the average daily earnings figure.

What it cannot tell you. This is a spot assessment for prompt fixtures, and the fleet is not on spot. The index leads realised revenue by roughly the remaining charter cover, which the company discloses only periodically — so a move here describes future fixtures, never the current half's revenue. It also says nothing about the property and fee lane, which carries a large share of the group's capital.

CompanyAssumesWatch / alertNowWhat it points to there
Uni-Asia GroupSGX: CHJ · dry-bulk shipowning11,010 US$/day
1H2025
11,010 / 9,000
on a move below
at or better than assumedVessels coming off charter are refixed into this market, so it points to the rate on the next fixture, not the current one.

Bank of Russia official US dollar to ruble exchange rate (USD/RUB, daily)

Bank of Russia (Central Bank of the Russian Federation) · daily · independent economic indicator · reaches 1 company

84.07 USD/RUB as at 2026-09-23. Check it — Bank of Russia website, 'Official exchange rates' page: set the date and read the US dollar row, or download the daily XML file the same page links to.

What it cannot tell you. A translation read tells the reader nothing about volume: a weaker ruble can coexist with record Russian volumes and vice versa, and the group discloses neither its hedges nor its ruble cash, so this row cannot separate price, mix and currency inside the Russia line.

CompanyAssumesWatch / alertNowWhat it points to there
Food Empire HoldingsSGX: F03 · branded_consumer_beverages83.21 USD/RUB
2025-01-10..2025-12-31
91.53 / 104
on a move above
inside the rangeRussia is the group's largest single market and its revenue is earned in rubles and translated into a US dollar presentation currency, so the official rate moves reported revenue with no change in volumes or shelf prices; the 1Q2026 business update itself credits ruble appreciation with part of that quarter's growth. The pack holds no hedge or ruble-cash disclosure, so this is a directional translation read rather than a modelled sensitivity.

COMEX gold front-month futures settlement price, US dollars per troy ounce

CME Group, retrieved through the Yahoo Finance chart API · daily · independent economic indicator · reaches 1 company

4,376 US dollars per troy ounce as at 2026-09-22. Check it — Open the Yahoo Finance page for the gold futures contract GC=F, go to Historical Data and read the close for the latest completed day.

What it cannot tell you. Gold sets the price and cost of the jewellery half only. It says nothing about the watch half, which was 61.2 per cent of FY2025 revenue and is priced by the brands, so a gold rally alongside falling Hong Kong footfall can leave group revenue flat. The level here is a US dollar futures settlement while the Group buys in renminbi and sells in Hong Kong and renminbi, so read the gap directionally, never to the dollar.

CompanyAssumesWatch / alertNowWhat it points to there
Emperor Watch & JewelleryHKEX: 0887 · inventory_funded_specialty_retail3,447 US dollars per troy ounce
2025
3,700 / 3,447
on a move below
at or better than assumedGold sets both the selling price and the replacement cost of jewellery, which was 38.8 per cent of FY2025 revenue with gold products 72.4 per cent of that. A rising gold price lifts revenue per gram and produces a holding gain on metal already bought; it simultaneously raises the fair value of the RMB gold-loan liability, which is disclosed inside other gains or losses. The sign is defensible; no coefficient is.

China 70-city new home prices, month-on-month change

National Bureau of Statistics of China · monthly · independent economic indicator · reaches 1 company

-0.17 % month-on-month as at 2026-08-31. Check it — On the statistics bureau's site, open the monthly release for 70 large and medium-sized cities and read the new-home price line.

What it cannot tell you. One monthly print can be reversed by the next release, and the group's borrowers are not the 70-city average, so a stabilising index does not by itself show that this particular book is recovering.

CompanyAssumesWatch / alertNowWhat it points to there
Yangzijiang Financial Holding LtdSGX: YF8 · balance_sheet_credit_investment0 % month-on-month
monthly change, measured against zero
-0.3 / -0.6
on a move below
inside the rangeWeaker PRC new-home prices cut the value of property collateral and the repayment capacity of property-linked borrowers, which shows up in the group's credit staging and its allowance charge one to two quarters later.

City prime office rent

CBRE · quarterly · market-price context · reaches 1 company

95 GBP per square foot per year as at 2026-06-30. Check it — Open Office and read the City prime rental paragraph for the reported quarter.

What it cannot tell you. St Martin effective rents, incentives, area and completion may change independently of City prime asking rents.

CompanyReferenceThreshold statusNowWhat it points to there
Ho Bee LandSGX: H13 · rental95 GBP per square foot per year
2026-06-30
No calibrated operating threshold95Lower prime rent can reduce the achievable redevelopment rent, while legacy leases transmit at expiry.

Committed portfolio occupancy

UI Boustead REIT Management Pte. Ltd. · quarterly · issuer operating release · reaches 1 company

98.1 % as at 2026-06-30. Check it — business-update and investor presentations in the issuer newsroom

What it cannot tell you. The manager publishes this figure and the reader cannot see the underlying leases: one large tenant not renewing, or a re-letting at a lower rent, would move the true number without showing in the headline occupancy until the next update.

CompanyAssumesWatch / alertNowWhat it points to there
UI Boustead REITSGX: UIBU · real_estate89.4 %
30 September 2025
95 / 92
on a move below
at or better than assumedoccupancy sets the rent base that funds distributions and debt service

Core CBD Grade A office rent

CBRE · quarterly · market-price context · reaches 1 company

12.5 SGD per square foot per month as at 2026-06-30. Check it — Read the Singapore Grade A office quarterly release and its Core CBD rent figure.

What it cannot tell you. The Metropolis is at one-north; its tenant mix, effective rent and incentives can diverge from Core CBD.

CompanyReferenceThreshold statusNowWhat it points to there
Ho Bee LandSGX: H13 · rental12.5 SGD per square foot per month
2026-06-30
No calibrated operating threshold12.5Weaker office rents can reduce renewal terms and increase incentives, subject to lease expiries.

Customers with deposits

UP Fintech Holding Limited · quarterly · issuer operating release · reaches 1 company

1,315 thousand funded accounts as at 2026-06-30. Check it — the operating-data table of each quarterly results release on SEC EDGAR

What it cannot tell you. A count of accounts says nothing about deposits per account or churn; the record holds no retention or conversion series.

CompanyAssumesWatch / alertNowWhat it points to there
UP Fintech Holding LimitedNASDAQ: TIGR · securities brokerage and margin financing1,254 thousand funded accounts
31 December 2025
1,254 / 1,153
on a move below
at or better than assumedfunded accounts carry every revenue line: commissions, interest income and financing service fees

Emperor Watch & Jewellery profit alerts filed under Listing Rule 13.09(2)(a)

Emperor Watch & Jewellery Limited, on HKEXnews · event · issuer operating release · reaches 1 company

310 HK$ million: the net profit floor the alert states, for the period it covers as at 2026-07-21. Check it — Search HKEXnews for stock code 887 and look for an announcement titled Positive Profit Alert or Profit Warning in the weeks before a results date.

What it cannot tell you. Two observations are not a calibration. The alert states a floor, not a figure, and the Group is under no obligation to issue one at all: it issued none before the FY2023 or FY2024 results. Silence is not a signal, and this row cannot tell a reader anything in a year without an alert.

CompanyAssumesWatch / alertNowWhat it points to there
Emperor Watch & JewelleryHKEX: 0887 · inventory_funded_specialty_retail194 HK$ million: the net profit floor the alert states, for the period it covers
1H2025
194 / 0
on a move below
at or better than assumedThe Group has pre-announced a profit floor before each of its last two results and beaten it by a low single-digit margin both times, so an alert is a usable point estimate about four weeks before the print and both moved the share price the next session.

Emperor Watch & Jewellery store count by territory, as disclosed in each results announcement

Emperor Watch & Jewellery Limited, on HKEXnews · event · issuer operating release · reaches 1 company

69 stores as at 2026-06-30. Check it — Search HKEXnews for stock code 887, open the latest results announcement, and find the 'Number of stores' table in the Presence in Prime Retail Locations section.

What it cannot tell you. A store count says nothing about store size, location quality or productivity, and it counts nine franchised Mainland jewellery stores that produce wholesale revenue rather than retail revenue. Two networks of 69 stores can earn very different money, which is exactly what happened here between 2023 and 2026.

CompanyAssumesWatch / alertNowWhat it points to there
Emperor Watch & JewelleryHKEX: 0887 · inventory_funded_specialty_retail93 stores
FY2023
64 / 60
on a move below
at or better than assumedStore count is one of the two terms of the revenue identity in every territory driver: revenue equals average stores times revenue per average store. It is also the fixed cost base, so a change moves both sides of the model.

Food Empire issuer disclosure: growth capex (Vietnam, India, Kazakhstan) and capital commitments in the quarterly business updates and financial statements

Food Empire Holdings Limited (SGX filings, issuer IR mirror) · quarterly · issuer operating release · reaches 1 company

30,126 US$'000 per half year as at 2026-06-30. Check it — Issuer IR newsroom, 2026 filings: open the latest quarterly business update or interim statements and read 'purchase of property, plant and equipment' in the cash-flow statement and the capital-commitments note.

What it cannot tell you. The number is the company's own: a reader is checking the company against what the company said it would do, and the line cannot tell a budget overrun on the Vietnam or India build from a schedule pull-forward, nor see anything the group builds outside the consolidated perimeter.

CompanyAssumesWatch / alertNowWhat it points to there
Food Empire HoldingsSGX: F03 · group_capital_programme30,126 US$'000 per half year
1H2026 (six months ended 30 June 2026)
22,595 / 15,063
on a move below
at or better than assumedThe programme is the earnings driver (new Vietnam freeze-dried and India spray-dried capacity, the Kazakhstan coffee-mix plant) and its own spend is the earliest public evidence it is still running; a half-year print back at the pre-programme rate would say the capacity the pack's forecast leans on is not being built on time.

JTC private business-park occupied share, derived from available and vacant nett space

JTC / data.gov.sg · quarterly · independent economic indicator · reaches 1 company

80.34 percent as at 2026-06-30. Check it — Open the industrial stock table and subtract vacant private business-park space from available space, then divide by available space.

What it cannot tell you. Market nett space includes properties and lease terms unlike CLAR's portfolio. It cannot reveal CLAR's signed rents, incentives or collection.

CompanyAssumesWatch / alertNowWhat it points to there
CapitaLand Ascendas REITSGX: A17U · income_property80.34 percent
2026Q2
78.34 / 75.34
on a move below
at or better than assumedFalling market occupancy can weaken CLAR's leasing and renewal negotiations.

JTC warehouse rental index, 4Q2012=100

JTC / data.gov.sg · quarterly · independent economic indicator · reaches 1 company

108 index as at 2026-06-30. Check it — Read the Warehouse series in JTC's quarterly industrial rental-index table. Exact analyst investigation thresholds are 105.84 for watch (108.0 × 0.98) and 102.60 for alert (108.0 × 0.95); the watch/alert display below is rounded. These assumptions prompt source review and do not estimate earnings or recommend a trade.

What it cannot tell you. The index covers new market transactions, while CLAR's multi-year leases and logistics mix differ. It does not apply to every dollar of in-place rent.

CompanyAssumesWatch / alertNowWhat it points to there
CapitaLand Ascendas REITSGX: A17U · income_property108 index
2026Q2
106 / 103
on a move below
at or better than assumedA weaker rental index points to less favorable rent on newly negotiated warehouse leases.

Lincotrade outstanding order book at quarter end, S$ million

Lincotrade & Associates Holdings (SGXNet press releases and results announcements) · quarterly · issuer operating release · reaches 1 company

106 SGD millions as at 2026-06-30. Check it — Open the latest quarterly order-book press release or the half-year results announcement and read the order book figure in S$ million.

What it cannot tell you. The book counts awarded contract value, not certified work: a S$70m contract over 54 months lifts the book by the same amount as five one-year projects but adds only about S$15m a year of revenue, so a rising book can coexist with flat near-term revenue; and the book says nothing about margin, cancellations or slow certification, which is where FY2026's cash went.

CompanyAssumesWatch / alertNowWhat it points to there
Lincotrade & Associates HoldingsSGX: BFT · commercial and residential interior fit-out68.9 SGD millions
2025-06-30
80 / 60
on a move below
inside the rangeRevenue over the next two to four quarters is drawn from the book; the book does not reveal margin or the pace at which customers certify work, so the tier is directional.

MAS Singapore Government Securities 10-year benchmark yield

MAS · daily · independent economic indicator · reaches 1 company

2.41 percent p.a. as at 2026-09-22. Check it — Open MAS Singapore Government Securities prices and yields, choose Frequency: Daily, tick 10-Year Bond Yield and press Display to read the average buying rate of SGS primary dealers for each day.

What it cannot tell you. The ten-year government yield is not SORA or CLAR's borrowing margin. Hedges, currencies and maturity timing can offset or delay transmission.

CompanyAssumesWatch / alertNowWhat it points to there
CapitaLand Ascendas REITSGX: A17U · income_property2.36 percent p.a.
2026-09-08
2.86 / 3.36
on a move above
inside the rangeHigher long-term sovereign yields can increase required property returns and refinancing costs.

Malaysia 10-year government bond yield, per cent per annum

Trading Economics, from Malaysian government bond market data · daily · independent economic indicator · reaches 1 company

3.93 % as at 2026-09-22. Check it — The headline yield at the top of the Malaysia government bond yield page, with the one-month and one-year changes printed beside it.

What it cannot tell you. It is a sovereign benchmark, not the group's borrowing rate. The spread over it is unobservable because no facility limit, tenor, review date or margin has been restated for the enlarged 2026 lines, so a move here bounds the direction of the funding cost but not its size.

CompanyAssumesWatch / alertNowWhat it points to there
Well Chip GroupBursa: WELLCHIP · funding3.37 %
August 2025
3.8 / 4.23
on a move above
past watchThe asset side reprices only when a pledge is rewritten, at six-month tickets, while essentially the whole bank stack turns over inside twelve months, so a benchmark move reaches the funding cost first and the book yield second.

SEMI Worldwide Semiconductor Equipment Market Statistics, quarterly billings, USD billion

SEMI · quarterly · independent economic indicator · reaches 1 company

36.55 US$bn per quarter as at 2026-03-31. Check it — SEMI's equipment-article archive; open the latest quarterly billings release and read total worldwide billings.

What it cannot tell you. This is an industry aggregate and Frencken serves a handful of named equipment makers, so its half can diverge from the industry for a full cycle on customer mix alone. The company does not disclose which customers or which tools, so no coefficient exists and none is offered here — the direction is the whole of the signal. It also says nothing about the margin on that volume, which is where the company's own recent history actually turned.

CompanyAssumesWatch / alertNowWhat it points to there
Frencken GroupSGX: E28 · semiconductor33.78 US$bn per quarter
2025
33.78 / 29.28
on a move below
at or better than assumedThe segment builds modules and frames for equipment makers, so industry billings point to the direction of its order intake.

SGX JCO closing share price, Singapore dollars per share

Singapore Exchange · event · market-price context · reaches 1 company

0.59 SGD per share as at 2026-08-27. Check it — SGX IPO performance record; read the latest recorded JCO close and compare it with the offer price.

What it cannot tell you. Price can move on liquidity, sentiment or index effects without changing occupancy, cash conversion, lease obligations or the underlying operating evidence.

CompanyReferenceThreshold statusNowWhat it points to there
JustCo Holdings LimitedSGX: JCO · listed equity market0.94 SGD per share
May 2026 listing
No calibrated operating threshold0.59The traded price is a market signal about liquidity and expectations, not a direct measure of centre occupancy, cash EBITDA or lease-service capacity.

SGX closing price of ZQM against group net asset value per share

Singapore Exchange (SGX) close data; NAV per share from issuer results · daily · independent economic indicator · reaches 1 company

0.51 S$ per share as at 2026-09-24. Check it — Read the last close on the ZQM quote on the SGX website (or any free quote service) and compare it with the NAV per share in the latest results highlights.

What it cannot tell you. The close embeds every piece of market information at once and attributes a move to nothing; NAV rolls with retained earnings and can fall as well as rise, and a thinly traded line can print a close away from any size a holder could actually deal on.

CompanyAssumesWatch / alertNowWhat it points to there
Soilbuild Construction GroupSGX: ZQM · group0.241 S$ per share
1H2026 (30 June 2026)
0.362 / 0.241
on a move below
at or better than assumedThe multiple to NAV measures what the market capitalises above the audited residual claim: moving through these levels marks a change in the market's read of the franchise rather than of the assets, and it is the fastest check of whether the market is still paying for the earnings path.

Singapore construction sector value-added, year-on-year growth

Ministry of Trade and Industry / Department of Statistics Singapore · quarterly · independent economic indicator · reaches 1 company

5.8 percent yoy as at 2026-08-11. Check it — Open the latest national-accounts release and find the construction row in the sectoral table; read the year-on-year percentage change for the quarter.

What it cannot tell you. The series measures output actually put in place across the whole sector, so it is as much a lagging record of work already under way as a leading read on tenders yet to come. It is also dominated by large civil and institutional projects; a quarter can swing several points on Changi Terminal 5 or a rail extension while estate repainting volumes are unchanged. It cannot distinguish public from private work, cannot see the Town Council tender calendar, and says nothing about the price at which work is being won, which is the variable that decided this company's last two years.

CompanyAssumesWatch / alertNowWhat it points to there
ISOTeamSGX: 5WF · building maintenance and estate upgrading5.8 percent yoy
2Q2026, the quarter in which the S$185.3m order book was struck
3 / 0
on a move below
inside the rangeEstate maintenance and upgrading work is drawn from the same public construction pipeline this series measures, so a sustained slowdown in sector output reaches the tender flow before it reaches the order book.

Singapore rental reversion rate

UI Boustead REIT Management Pte. Ltd. · quarterly · issuer operating release · reaches 1 company

2.6 % as at 2026-06-30. Check it — leasing-update and business-update presentations in the issuer newsroom

What it cannot tell you. A single blended reversion rate hides the tenant mix behind it: the manager could report a positive blended number while the largest leases renew flat or lower, and the reversion figure says nothing about occupancy or about the yen translation of the Japan rents.

CompanyAssumesWatch / alertNowWhat it points to there
UI Boustead REITSGX: UIBU · real_estate0 %
FY2027
0 / -2
on a move below
at or better than assumedrenewal spreads set forward rental income on the expiring tail

Soilbuild Construction Group order book (issuer results announcements)

Soilbuild Construction Group Ltd (SGX announcements and issuer website) · event · issuer operating release · reaches 1 company

800 S$ million as at 2026-06-30. Check it — Open the latest results announcement from the SGX company page (or the issuer's website) and read the order-book sentence in the financial highlights or outlook section.

What it cannot tell you. The book aggregates project values and cannot say where margin sits, how concentrated it is in slow civil works, or what stage of completion each remaining dollar is at; the group does not publish project-level profit.

CompanyAssumesWatch / alertNowWhat it points to there
Soilbuild Construction GroupSGX: ZQM · construction1,070 S$ million
FY2025 (31 December 2025)
963 / 749
on a move below
past watchA falling book foreshortens the revenue the construction division converts in later periods: the pipeline is being consumed faster than it is replaced, which shows up as slower revenue growth and thinner tender selectivity before it shows up in any single margin.

Soilbuild group gross profit margin (half-yearly, from results announcements)

Soilbuild Construction Group Ltd (SGX announcements and issuer website) · event · issuer operating release · reaches 1 company

18.1 per cent as at 2026-06-30. Check it — Divide the gross profit line by the revenue line in the latest results announcement's income statement (both are in the highlights table and the financial statements).

What it cannot tell you. The group margin blends two divisions with different economics (construction project margins and precast utilisation); a stable group print can conceal deterioration in either, and segment detail arrives only in the full-year statements.

CompanyAssumesWatch / alertNowWhat it points to there
Soilbuild Construction GroupSGX: ZQM · group15.8 per cent
FY2025
13.8 / 11.9
on a move below
at or better than assumedGross margin is the residual after site costs, subcontractor pricing, materials and labour, so a lower print compresses pre-tax profit on the same revenue before any offset; it is the cleanest half-yearly read on whether tendered margins are being earned or consumed.

Total client assets

UP Fintech Holding Limited · quarterly · issuer operating release · reaches 1 company

60,728 US$ millions as at 2026-06-30. Check it — the operating-data table of each quarterly results release on SEC EDGAR

What it cannot tell you. No cash, securities and margin-collateral split is disclosed, so a level change cannot be read into the interest line.

CompanyAssumesWatch / alertNowWhat it points to there
UP Fintech Holding LimitedNASDAQ: TIGR · securities brokerage and margin financing61,038 US$ millions
30 September 2025
52,056 / 45,862
on a move below
inside the rangeclient assets feed the interest book, the collateral behind margin lending and the fee base

Total margin financing and securities lending balance

UP Fintech Holding Limited · quarterly · issuer operating release · reaches 1 company

7.4 US$ billions as at 2026-06-30. Check it — the key-operating-data section of each quarterly results release on SEC EDGAR

What it cannot tell you. The figure is printed in release text rather than as a claim row, it is not reconciled to receivables from customers, and it includes balances financed through clearing agents for fully disclosed accounts.

CompanyAssumesWatch / alertNowWhat it points to there
UP Fintech Holding LimitedNASDAQ: TIGR · securities brokerage and margin financing5.4 US$ billions
31 December 2025
6.2 / 5.4
on a move below
at or better than assumedthe balance is the earning-asset base of the interest income the group reports

Trading Economics iron ore 62% Fe CFR Tianjin market reference, USD per tonne

Trading Economics (CFD-based market reference) · daily · market-price context · reaches 1 company

97.24 US$/t as at 2026-09-23. Check it — Read the Iron Ore headline and the observation date in its summary, in USD per metric tonne. The publisher describes a CFD tracking a 62% Fe China-import CFR Tianjin reference; this is not an official SGX or CME settlement.

What it cannot tell you. Civmec is a contractor, not an iron ore producer. This quote does not measure client price decks, financing, project approvals, contract cancellations or conversion of the order book into cash. It is not a direct indicator for defence and infrastructure work. The 10 September 2026 correction withdraws the former watch/alert bands because their benchmark and client-capex calibration were not established; assess new awards and the next order-book disclosure instead.

CompanyReferenceThreshold statusNowWhat it points to there
Civmec LimitedASX: CVL / SGX: P9D · resources and heavy engineeringNo verified historical comparison retainedNo calibrated operating threshold97.24Iron ore prices provide context for resource clients' prospective capital spending. They do not establish whether a client will approve a project or award work to Civmec.

UIBU unit price (SGX close)

Singapore Exchange / market data vendors · daily · independent economic indicator · reaches 1 company

0.815 S$ per unit as at 2026-09-22. Check it — the daily closing price and volume on any broker or SGX price page

What it cannot tell you. This is a price, not the business: it moves on flows, index events and rate expectations, and it cannot tell the reader anything about occupancy, the renewal tail or whether the first distribution will be paid.

CompanyAssumesWatch / alertNowWhat it points to there
UI Boustead REITSGX: UIBU · real_estate0.88 S$ per unit
12 March 2026
0.75 / 0.7
on a move below
at or better than assumeda lower unit price lifts the trust's cost of equity and makes any equity-funded acquisition or refinancing more expensive

UP Fintech ADS close (NasdaqGS, TIGR)

Nasdaq / market data vendors · daily · independent economic indicator · reaches 1 company

4.82 US$ per ADS as at 2026-09-23. Check it — the daily closing price on any market site or broker application

What it cannot tell you. This is a price, not the business: the record's own map leaves ten of its 32 detected moves unexplained, and one peer series is too narrow a control to read a session from.

CompanyAssumesWatch / alertNowWhat it points to there
UP Fintech Holding LimitedNASDAQ: TIGR · listed equity market6.25 US$ per ADS
October 2024
4 / 3
on a move below
inside the rangethe share price sets the cost of equity and option-based compensation, and extreme sessions have accompanied the regulatory announcements

World Bank Commodity Markets ('Pink Sheet') monthly price series: Coffee, Arabica, US$ per kilogram

World Bank (Commodity Markets, Prospects Group) · monthly · independent economic indicator · reaches 1 company

7.97 US$ per kilogram as at 2026-08-31. Check it — World Bank commodity-markets page: download the monthly historical price file and read the 'Coffee, Arabica' column for the latest month.

What it cannot tell you. The index is not the group's book: Food Empire buys regional grades on contracts, blends to market price points and discloses no hedge book, so its realised cost can lag the index by a whole buying cycle - and the row is silent on how much coffee it has already locked in.

CompanyAssumesWatch / alertNowWhat it points to there
Food Empire HoldingsSGX: F03 · group_margin8.47 US$ per kilogram
2025-01..2025-12
9.05 / 10.16
on a move above
at or better than assumedGreen coffee is the group's largest named raw material and sits inside cost of sales for both the branded beverage mixes and the Ingredients arm; the pack's own driver register owes this observation ('the pack holds no input-cost series') and the gross-margin floor it is read against is 33.5%. The row is directional: a rise is adverse for margin, but the pack has no elasticity between the index and the reported margin.

World Bank Commodity Markets ('Pink Sheet') monthly price series: Coffee, Robusta, US$ per kilogram

World Bank (Commodity Markets, Prospects Group) · monthly · independent economic indicator · reaches 1 company

3.98 US$ per kilogram as at 2026-08-31. Check it — World Bank commodity-markets page: download the monthly historical price file and read the 'Coffee, Robusta' column for the latest month.

What it cannot tell you. The same limitation as Arabica, sharper here: Robusta grades vary by origin and the group buys Vietnamese and Indian supply for its own plants, so the world index can diverge from what its procurement actually pays for a whole season.

CompanyAssumesWatch / alertNowWhat it points to there
Food Empire HoldingsSGX: F03 · ingredient_manufacturing4.86 US$ per kilogram
2025-01..2025-12
5.81 / 5.83
on a move above
at or better than assumedRobusta is the cheaper of the two coffee complexes the group buys and the one its mainstream MacCoffee-style mixes and industrial ingredient customers are exposed to, so it is the closer read on the mass-market cost line; a rise raises the same cost of sales the gross-margin floor of 33.5% is measured against.

Where there is nothing public to watch

Eleven segments across the estate have no free public series worth following, and the reason is often the most useful thing on the subject — a shipowner on long-dated fixed charters really is insulated from the spot freight market, and a reader watching freight indices for it would be reading the wrong market. What was searched, and what came back:

Aspial Lifestyle — property-backed lending (BigFundr). Searched the Monetary Authority's statistics, the land authority's price and rental indices and the accounting and corporate regulator's registers for a series covering the developer-loan book this segment lends against. Nothing public reports at that perimeter: the notes are privately placed against individual projects, so the first observable is the issuer's own expected-credit-loss line.

Beng Kuang Marine — marine and offshore fabrication. Searched the drilling-contractor rig-count series, offshore day-rate commentary and the shipyard order statistics. Each describes the offshore cycle, but this company sells corrosion-prevention and fabrication man-hours into yards and asset owners on short lead times, and it discloses no group book-to-bill against which any of them could be calibrated. Adopting a rig count would imply a link to drilling activity the company's own segment disclosure does not support.

Coliwoo Holdings Limited — portfolio demand and ramp. Searched Singapore rental, hotel and serviced-apartment statistics for a free series at Coliwoo's perimeter. None separates flexible co-living rooms, renovation exclusions, fixed-fee managed occupancy or Coliwoo's project mix. National hotel or private-rental data would imply a transmission the issuer evidence does not support; the first honest observable is the company's own room and occupancy update.

Coliwoo Holdings Limited — sale-and-leaseback economics. Searched the transaction announcement, buyer disclosure and public property material for the Middle Road master-lease rent, escalation and fixed-charge terms. No external series can recover a private contract payment; the issuer's circular or completion disclosure is the resolving evidence.

Emperor Watch & Jewellery — run_off. Nothing free and public tracks the Other Asia Pacific run-off between filings. Searched: the Group's own disclosure, which names only Singapore and Malaysia and gives no country split of revenue; Singapore Department of Statistics retail sales, whose watches-and-jewellery category covers the whole country and cannot isolate five stores; and the Singapore ACRA register, which does hold the subsidiary's own accounts but is a paid, per-document service filed annually with a long lag, so it fails both the free and the between-filings tests. The honest position is that this engine has no reader-checkable signal, and the register says so rather than substituting a proxy that would not actually move with it.

Frasers Property Limited — multi-country property values and transaction liquidity. Searched official Singapore property indices, national housing series in the group's other markets, and freely accessible global commercial-property transaction and valuation series. Frasers Property spans several countries and residential, retail, office, logistics and hospitality assets, while the company does not disclose a valuation-weighted geographic and asset-class bridge that could turn one public series into a faithful group signal.

Frasers Property Limited — group refinancing cost and access. Searched MAS benchmark-rate and banking statistics, public investment-grade bond indices, and issuer debt disclosures. The group borrows across currencies, legal entities, secured and unsecured forms and listed vehicles, with a large fixed-or-hedged share; no public market series maps to the guarantor's actual refinancing cost or availability without an unsupported coefficient.

Frencken Group — analytical, life sciences and industrial automation. Searched the instrument makers' own quarterly releases, the national statistics on scientific-instrument output and the automotive production series for a proxy at this segment's perimeter. The segment spans four unrelated end markets in one reported line and the company discloses no split, so no single public series maps to it; adopting automotive production alone would misdescribe roughly half of it.

GuocoLand Limited — Singapore residential launch sell-through. Launch sell-through percentages and committed-occupancy readings are published only inside the group's SGX filings and business updates, which carry dates rather than a free, timely, independent operating series; no independent series (developer sales statistics, registry of options lodged) was fetched for this publication.

Huationg Global Limited — civil engineering contract works and worker dormitory operations. The order book, gross margin, contract-liability balance and dormitory readings are published only inside the group's SGX filings and results announcements, which carry dates rather than a free, timely, independent operating series; no independent series (building authority contract awards, dormitory occupancy statistics) was fetched for this publication.

Multi-Chem Limited — IT distribution and technical support. No independent public operating indicator has been established in this bounded evidence initiation. The SGX issuer filing stream remains the next source to read for collections, technical-support obligations, vendor payables and CPIB-related disclosures; it is issuer disclosure, not an independent indicator or a numerical alert.

PC Partner Group — graphics card assembly and branded sales. Searched the graphics-processor supplier's segment reporting, the platform hardware surveys and the retail price trackers after the supplier stopped reporting gaming revenue separately (see the retired row above). Hardware surveys measure the installed base, which moves years after a purchasing cycle, and retail price trackers cover a handful of models rather than this company's mix. The binding variable is in any case allocation rather than demand — the company's own filings warn it may not obtain sufficient GPUs — and allocation is not published by anyone.

Q&M Dental Group — dental clinics and distribution. Searched the health ministry's statistics, the dental council's practitioner register and the national retail-sales index. The practitioner register is public and free but counts dentists nationally rather than at this network's outlets, and private dental demand is not separately published; the outlet count and revenue per outlet, which are what actually move the earnings, come from the issuer.

Singapore Shipping Corporation — vessel ownership and chartering. Searched the Baltic Exchange's free daily assessments, the car-carrier rate commentary and global light-vehicle production statistics. The finding is that none of them should be watched here, and that is the point: the fleet is on long-dated fixed charters to a small number of shipping lines, so the spot market does not reach revenue until a charter expires. A reader watching freight indices for this company would be reading a market it is deliberately insulated from. The contract book's run-off schedule — disclosed at results — is the real clock, and it is the company's own disclosure.

Singapore Shipping Corporation — agency, terminal and logistics services. Searched the maritime authority's port statistics and vessel-call series for a proxy. Port calls are published, but this segment earns fees from a specific customer list at one terminal rather than from national throughput, and the company's own page records that the smaller segment earns the higher return on capital — a mix effect no throughput series can see.

UI Boustead REIT — real_estate. Searched JTC public statistics and the issuer sources held in this run for a free quarterly industrial rent index level covering this portfolio's submarkets, and no level published as at the information cutoff was retained.

Uni-Asia Group — Hong Kong and Japan property. Searched the Hong Kong Rating and Valuation Department's indices, the Japanese land ministry's series and the listed developer peers for a series at this segment's perimeter. The exposure is a handful of named small residential projects held through joint ventures, and a territory-wide index does not describe a portfolio that small; the first honest observable is the project-by-project disclosure at results.

Winking Studios — game art outsourcing and co-development. Searched the platform concurrent-user dashboards, the industry release calendars and the listed publisher-customers' own guidance. Platform activity measures players, not development spend, and the two move on different cycles — studios cut outsourcing budgets while player numbers are still rising. The customers are contractually unnamed, so their guidance cannot be aggregated to this company's perimeter. Bookings and milestone conversion, disclosed at results, remain the first honest observable.

iWOW Technology — wireless engineering and solutions. Searched the infocomm regulator's telecommunications statistics, the public-sector procurement portal and the satellite-services operators' releases. The revenue is a small number of project awards and government contracts, so a national subscriber or traffic series has no transmission to it; the observable that would matter — the award tape — is the issuer's own filing.

iX Biopharma Ltd — Specialty pharmaceuticals and nutraceuticals. Department of Defense reimbursement, medicinal-cannabis import clearances and Wafermine trial progress are not published as one free, timely operating series independent of the issuer’s SGX filings. The SGX issuer filing stream remains the next source to read; it is issuer disclosure, not an independent indicator or a numerical alert.

How to read this page

A level past the watch mark means the series has left the range the company's last reported economics were set against; past alert means it has gone further than any recent period in that record. Neither is a conclusion. Both are a reason to re-read that company's library and, in particular, the section that explains how the series reaches its earnings — which is usually slower, smaller and more offset than a headline suggests. The cannot tell you column is not a disclaimer; it names the specific thing that can move independently and break the read.

These registers are refreshed on the libraries' normal cadence. A daily series carried on a six-month refresh is a dead instrument, so each one has a staleness budget and a gate that fails the build when a level is older than its budget allows.