Welcome to this week’s edition of top stock market highlights.
This week, Singapore’s homegrown grocery chain broke ground on an ambitious automated distribution hub, while over in the US, a US$53 billion takeover approach for a payments pioneer met a cool reception from its board.
We also review a streaming giant’s latest quarterly report card that failed to excite investors, and examine how escalating Middle East tensions have sent gold prices tumbling.
Sheng Siong commits S$520 million to automated distribution hub
Sheng Siong (SGX: OV8) broke ground on 13 July 2026 on a new integrated headquarters and distribution centre (IHDC) in Sungei Kadut, part of a S$520 million investment to support its next phase of growth.
The seven-storey facility, due for completion in 2029, will span more than 61,000 square metres and offer storage for over 70,000 pallet positions.
It will be able to support more than 120 stores across Singapore, up from the group’s current network of 90 outlets.
The site is roughly 2.5 times the size of the group’s existing Mandai Link distribution centre, which is nearing full capacity as the retailer opens more outlets and carries a wider product range.
Backed by Enterprise Singapore and JTC, the Sungei Kadut facility will integrate automated storage and retrieval systems, robotics, intelligent warehouse management technology and multi-temperature storage zones.
CEO Lim Hock Chee said the group studied automation and warehousing solutions in Europe, China and Australia before designing a facility tailored to its needs, adding that it should become one of South-east Asia’s most highly automated grocery distribution centres once completed.
PayPal’s board sees Stripe-Advent bid as undervaluing the company
Stripe and private equity firm Advent International have made a joint offer to acquire PayPal Holdings (NASDAQ: PYPL) at US$60.50 per share, valuing the payments company at more than US$53 billion.
The offer is backed by roughly US$50 billion in committed bank financing and represents around a 28% premium to PayPal’s closing price on 14 July 2026.
PayPal’s board, however, sees the bid as undervaluing the company and believes it faces regulatory and financing hurdles.
Its early view is that while the offer is a premium to the recent share price, it does not fully reflect the value achievable if management executes its turnaround strategy.
PayPal rose 2% on 16 July 2026 to US$56.73.
Combining Stripe and PayPal would create one of the world’s largest online payments companies, processing some US$3.7 trillion of annual volume.
