Welcome to this week’s edition of top stock market highlights.
This week brings a mix of corporate action and macro developments, from a super-app’s billion-dollar bet on buy-now-pay-later lending to the ongoing shake-up of Singapore’s mobile market.
Overseas, the US Federal Reserve surprised markets by raising rates for the first time since 2023, while a string of AI researcher departures has intensified scrutiny on Big Tech’s approach to safety.
Super-app deepens fintech ambitions with US$1.5 billion BNPL acquisition
Grab Holdings (NASDAQ: GRAB) announced on 15 September that it will acquire a 60 per cent stake in buy-now-pay-later (BNPL) platform Atome Financial from Advance Intelligence Group for US$1.5 billion in cash.
The deal will combine Atome’s BNPL loans, consumer cash loans, and digital lending operations with Grab’s existing financial services business.
Atome Financial operates across Singapore, Malaysia, the Philippines, Indonesia, and Thailand, and has accumulated 25 million transacted users to date.
The acquisition will proceed in two phases.
The first, covering the 60 per cent stake, is expected to close by the third quarter of 2027, subject to regulatory approvals.
The remaining 40 per cent will be acquired roughly two years later at a valuation tied to Atome’s performance, subject to a floor of US$2 billion and a cap of US$4.5 billion.
Alongside the deal, Grab raised its 2028 targets, forecasting adjusted EBITDA of US$1.7 billion and annual revenue growth exceeding 30 per cent between 2025 and 2028.
The group also plans to complete its US$900 million share repurchase programme over the next 12 months.
Singapore’s telecoms consolidation picks up pace
StarHub (SGX: CC3) and MyRepublic have expanded their mobile partnership, with all MyRepublic Mobile subscribers set to be migrated onto StarHub’s network.
The move follows a 2022 agreement for StarHub to provide 5G network access for MyRepublic Mobile customers, as well as StarHub’s outright acquisition of MyRepublic’s Singapore broadband business in August 2025.
MyRepublic is a mobile virtual network operator (MVNO) that relies on host infrastructure rather than its own cellular towers.
StarHub CEO Nikhil Eapen described the development as another step towards leading the ongoing consolidation of Singapore’s telecommunications market.
Seven MVNOs – including Changi Mobile, which was operated by Changi Airport Group – have closed in Singapore between 2020 and 2026.
The broader telco landscape remains in flux.
