Data caveat: Third-party provider data and this week's news remain subject to primary-filing verification.
Weekly refresh
Material Stage 2 movements from the latest weekly review set.
527Operating companies
69Stage 2 reviewed
11Strong Screen Matches
32Watchlist Matches
0Deterioration flags
No company-level movements are listed because this refresh established the comparison baseline.
Data caveat: The established cached SGX universe was re-screened; five news items since 2026-08-22 were reviewed as manual-review context only.
Weekly refresh
Material Stage 2 movements from the latest weekly review set.
527Operating companies
69Stage 2 reviewed
11Strong Screen Matches
32Watchlist Matches
0Deterioration flags
No company-level movements are listed because this refresh established the comparison baseline.
Data caveat: The weekly comparison uses the established cached SGX universe, a partial live provider refresh, and three news items since 2026-08-15 reviewed as manual-review context only.
Weekly refresh
Material Stage 2 movements from the latest weekly review set.
527Operating companies
69Stage 2 reviewed
11Strong Screen Matches
32Watchlist Matches
0Deterioration flags
No company-level movements are listed because this refresh established the comparison baseline.
Data caveat: Universe refresh covered 680 screened SGX rows. Provider coverage remains partial for some names; ten news items since 2026-08-08 were reviewed as manual-review context only.
Weekly refresh
Material Stage 2 movements from the latest weekly review set.
527Operating companies
72Stage 2 reviewed
11Strong Screen Matches
32Watchlist Matches
0Deterioration flags
No company-level movements are listed because this refresh established the comparison baseline.
Data caveat: Universe refresh covered 680 screened SGX rows. Provider coverage remains partial for some names; nine news items since 2026-08-01 were reviewed as manual-review context only.
Weekly refresh
Material Stage 2 movements from the latest weekly review set.
523Operating companies
31Stage 2 reviewed
10Strong Screen Matches
13Watchlist Matches
0Deterioration flags
No company-level movements are listed because this refresh established the comparison baseline.
Data caveat: Universe refresh covered 667 scraped SGX securities and 675 screened rows; provider coverage remains partial for some names. News scan reviewed 18 items since 2026-07-26 and is used as manual-review context only.
Weekly refresh
Material Stage 2 movements from the latest weekly review set.
521Operating companies
30Stage 2 reviewed
10Strong Screen Matches
13Watchlist Matches
0Deterioration flags
No company-level movements are listed because this refresh established the comparison baseline.
Data caveat: Universe refresh covered 664 scraped SGX securities and 674 screened rows; provider coverage remains partial for some names. Weekly news scan reviewed 3 items since 2026-07-24; only current-dated news is used as manual-review context.
Weekly refresh
Material Stage 2 movements from the latest weekly review set.
521Operating companies
36Stage 2 reviewed
10Strong Screen Matches
13Watchlist Matches
0Deterioration flags
Counter
Movement
Stage 2
Why it changed
C41 Cortina Holdings Limited
Improved
3/20 → 1/20 3-star → 3-star
Receivables vs Revenue Growth improved from +152.1% to -23.9%.
S19 Singapore Shipping Corporation Limited
Improved
5/20 → 3/20 2-star → 3-star
Receivables vs Revenue Growth improved from +20.0% to -37.1%.
Data caveat: Universe refresh covered 664 scraped SGX securities and 674 screened rows; 99 had partial provider data. Catch-up news scan reviewed 17 items since 2026-07-12; SGX/news items were treated as manual-review context only.
Weekly refresh
Material Stage 2 movements from the latest weekly review set.
518Operating companies
33Stage 2 reviewed
8Strong Screen Matches
14Watchlist Matches
3Deterioration flags
Counter
Movement
Stage 2
Why it changed
BQF XMH Holdings Ltd.
Deteriorated
7/20 → 10/20 1-star → 0-star
Operating Leverage worsened from +4.7% to -33.7%.
Data caveat: Universe refresh covered 665 scraped SGX securities and 671 screened rows; 102 had partial provider data. Weekly news scan reviewed 25 items, mainly Old Chang Kee collaboration/news and SGX announcement links, treated as manual-review context only.
Weekly refresh
Material Stage 2 movements from the latest weekly review set.
518Operating companies
32Stage 2 reviewed
8Strong Screen Matches
13Watchlist Matches
0Deterioration flags
Counter
Movement
Stage 2
Why it changed
BQF XMH Holdings Ltd.
Improved
14/20 → 7/20 0-star → 1-star
Revenue Growth YoY improved from -25.7% to +10.9%.
AGS The Hour Glass Limited
Improved
5/20 → 3/20 2-star → 3-star
Receivables vs Revenue Growth improved from +68.5% to -55.5%.
Data caveat: Universe refresh covered 667 scraped SGX securities and 671 screened rows; 103 had partial provider data. Weekly news scan reviewed 11 items, mostly SGX announcement links and valuation/ratio pages, treated as manual-review context only.
Weekly refresh
Material Stage 2 movements from the latest weekly review set.
517Operating companies
31Stage 2 reviewed
6Strong Screen Matches
14Watchlist Matches
0Deterioration flags
No company-level movements are listed because this refresh established the comparison baseline.
Data caveat: Universe refresh covered 670 SGX securities; 106 had partial provider data. Weekly news scan found 10 ratio/estimate items from TradingView/Google News, treated as manual-review context only.
Weekly refresh
Material Stage 2 movements from the latest weekly review set.
517Operating companies
29Stage 2 reviewed
6Strong Screen Matches
14Watchlist Matches
0Deterioration flags
No company-level movements are listed because this refresh established the comparison baseline.
Data caveat: Universe refresh covered 670 SGX securities; 106 had partial provider data. Weekly news scan found no new watchlist items since 2026-06-15.
Weekly refresh
Material Stage 2 movements from the latest weekly review set.
513Operating companies
33Stage 2 reviewed
6Strong Screen Matches
14Watchlist Matches
4Deterioration flags
Counter
Movement
Stage 2
Why it changed
1L2 Hiap Seng Ind
Deteriorated
7/20 → 10/20 1-star → 0-star
Cash Conversion worsened from 1.47x to 0.34x.
Data caveat: The refresh covered 666 SGX securities; 102 instruments had partial financial statements, and several unavailable provider symbols require primary-source verification.
Weekly refresh
The review set expanded to the top 20, existing watchlist names, and major movers. Two companies changed star bands downward and two improved into higher bands.
513Operating companies
40Stage 2 reviewed
6Strong Screen Matches
13Watchlist Matches
15Deterioration flags
Counter
Movement
Stage 2
Why it changed
BBW Azeus Systems Holdings Ltd.
Deteriorated
3/20 → 8/20 3-star → 1-star
Receivables outpaced revenue and cash conversion weakened after FY2026 figures were added.
S19 Singapore Shipping Corporation Limited
Deteriorated
0/20 → 5/20 3-star → 2-star
Receivables growth moved materially ahead of revenue growth.
5ML Old Chang Kee Ltd.
Deteriorated
4/20 → 6/20 2-star → 2-star
The receivables-versus-revenue test moved from green to red.
F9D Boustead Singapore Limited
Deteriorated
12/20 → 14/20 0-star → 0-star
Cash conversion, non-operating income, operating leverage, and profit stability weakened.
Q0X Ley Choon Group Holdings Limited
Improved
7/20 → 4/20 1-star → 2-star
Revenue growth and receivables quality improved, offsetting weaker operating leverage.
C41 Cortina Holdings Limited
Improved
5/20 → 3/20 2-star → 3-star
Cash conversion improved, although the receivables test requires separate review.
Data caveat: 102 securities had partial provider data. Company-level figures remain subject to primary-filing verification.
Baseline refresh
Initial weekly baseline captured before consistent company-level change explanations were introduced.
509Operating companies
20Stage 2 reviewed
5Strong Screen Matches
6Watchlist Matches
0Deterioration flags
No company-level movements are listed because this refresh established the comparison baseline.
Data caveat: This entry is a baseline, so upgrades and downgrades were not classified against an earlier weekly snapshot.
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