Seatrium’s BP Contract, Apple’s Smartphone Crown, Alibaba’s AI Surge and Jardine Matheson’s Portfolio Update
Welcome to this week’s edition of top stock market highlights.
This week saw significant developments across the Singapore and global markets, from major offshore contract wins to shifting dynamics in the smartphone industry.
We also examine how artificial intelligence continues to drive growth for Chinese tech giants and review a diversified conglomerate’s portfolio performance.
Seatrium Limited (SGX: 5E2) has secured a contract from BP Exploration and Production Inc. for the engineering, procurement, construction and onshore commissioning of the Tiber Floating Production Unit (FPU) in the Gulf of America (formerly Gulf of Mexico).
This marks Seatrium’s second consecutive deepwater project for BP, following the Kaskida FPU awarded in December 2024.
The Tiber FPU will have a production capacity of 80,000 barrels of crude oil per day and is slated to commence production in 2030.
More than 85% of the Tiber FPU’s design will replicate the Kaskida FPU, allowing Seatrium to harness supply chain efficiencies through its series-build approach.
The award lifts Seatrium’s 2025 contract wins above S$2 billion, reinforcing its position as a leading provider of deepwater energy solutions and adding to its growing portfolio of FPUs for major global energy clients.
Apple Inc (NASDAQ: AAPL) is poised to reclaim its crown as the world’s largest smartphone maker for the first time since 2011, according to Counterpoint Research.
The iPhone 17 series, launched in September, has driven double-digit year-on-year sales growth in both the United States and China.
Counterpoint projects iPhone shipments will grow 10% in 2025, compared with Samsung’s 4.6%, giving Apple a projected global market share of 19.4% versus Samsung’s 18.7%.
The research firm attributes this surge to a replacement cycle reaching its inflection point, as consumers who purchased devices during the pandemic boom are now upgrading.
Apple is expected to maintain its lead through 2029, supported by the upcoming launch of a foldable iPhone in 2026 and a major design overhaul in 2027.
Alibaba Group Holding Ltd (NYSE: BABA) reported a 34% year on year (YoY) jump in cloud computing revenue to 39.8 billion yuan for the quarter ended September 2025, accelerating from the 26% growth recorded in the previous quarter.
AI-related product revenue achieved triple-digit YoY growth for the ninth consecutive quarter.
Overall group revenue increased 5% to 247.8 billion yuan (US$35 billion), though net profit fell 52% due to heavy investments in consumer subsidies and data centres amid fierce e-commerce competition.
