D5IU.SI down 12.5% to S$0.007 on SES pre-market Feb 2026: debt and value test

D5IU.SI stock fell 12.5% to S$0.007 in SES pre-market trade on 20 Feb 2026, marking it among the top losers this session. The move follows thin trading and a heavy debt profile that markets are re-pricing. Volume reached 10,752,700 shares versus a 30-day average of 16,329,026, signalling reactive selling rather than fresh demand. We examine valuation, leverage and catalysts to explain the fall and what the next trading windows may offer for both traders and longer-term investors.