<div id="readability-page-1"><div><p>[SINGAPORE] The announcements from Prime Minister and Finance Minister Lawrence Wong’s Budget 2026 statement on Thursday (Feb 12) spanned themes of driving artificial intelligence (AI) adoption and addressing proposals put forth by the Economic Strategy Review committee.</p><p>With these developments set to impact various sectors across Singapore’s economy – from essentials to manufacturing, defence, property and energy – some sectors and stocks on the Singapore Exchange (SGX) could benefit, while others might be disadvantaged. </p><h2>Banks</h2><p>RHB analyst Shekhar Jaiswal highlighted that banks –  DBS ,  OCBC  and  UOB  – should gain from larger wealth and investment banking fee pools, and firmer trade finance and foreign exchange flows from enterprise internationalisation.</p><h2>Consumer </h2><p>The domestic consumption and essentials sector is likely to benefit “most immediately” from Budget 2026 developments, said the RHB analyst. </p><p>This comes as sizeable household transfers – such as CDC vouchers, U-Save, cash and child credits – alongside wage support should lift mass-market spending, favouring  Sheng Siong  and  DFI Retail  through “resilient staples demand and voucher-enabled traffic”, Jaiswal added.</p><h2>Technology</h2><p>The AI and advanced manufacturing sector also stands to benefit from Budget 2026 developments, said Jaiswal. He noted that the National AI Council, one-north AI park, AI missions and RIE2030 funding point to a “sustained R&amp;D and capex cycle”. </p><p>Tech stocks like  Frencken ,  UMS  and  Venture , could gain from Singapore’s deeper push into AI and manufacturing, said Jaiswal. </p><p>Another winner from Budget 2026 developments is the defence and cyber security sector, with defence spend anchored around 3 per cent of Singapore’s gross domestic product (GDP) and broader security outlays rising, Jaiswal said. He added that this could support multi-year order visibility for  ST Engineering . </p><p>Infrastructure providers, such as  Singtel  and  Keppel DC Reit , may also benefit from AI-driven innovation supporting Singapore’s next growth phase, said DBS in a Feb 5 report. </p><h2>Energy</h2><p>Jaiswal highlighted that the energy transition sector remains “structurally positive” given carbon pricing, import low-carbon electricity from the region, and the pursuit of longer-dated diversification options.  ComfortDelGro ,  Keppel ,  Keppel Infrastructure Trust  and  Sembcorp  should be key proxies, he said. </p><h2>Property</h2><p>Property developers should benefit mainly from there being no new cooling measures, said Jaiswal. For real estate investment trusts (Reits), uplift is targeted to retail names such as  CapitaLand Integrated Commercial Trust ,  Frasers Centrepoint Trust  although industrial and business park like  CapitaLand Ascendas Reit  could also benefit, said Jaiswal.</p></div></div>

AJBU

<p>The Budget 2026 statement by Prime Minister Lawrence Wong is expected to impact various sectors in Singapore's economy. Analysts suggest potential winners include banks like DBS, OCBC, and UOB due to increased wealth management fees. The consumer sector, particularly Sheng Siong and DFI Retail, may benefit from household transfers boosting spending. The technology sector, including Frencken and UMS, could gain from AI advancements. Defence spending may support ST Engineering, while energy firms like ComfortDelGro and Keppel are seen as positive due to carbon pricing. Property developers may also benefit from the absence of new cooling measures.</p>

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OCBC Bank

From Sheng Siong to Keppel DC Reit, here are some potential winners from Budget 2026