Weekly Changes
A dated record of material SGX screen movements, review-set statistics, and data caveats. Lower Stage 2 scores are better.
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.