This article released by SGX give us some information on the largest listed companies in SGX. We felt this is a good start for us to look for blue chips which pay out good dividends and is safe to hold for long term investors. Our comments are in green. Do give us your comments.
The Valumetrics Team
| Almost A Third of Singapore’s 50 Biggest Stocks Represent Real Estate |
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This is the largest listed property related stocks on SGX. Their dividend yield is higher than STI index of ~4% partly due to the REITS. If you just look at the non REIT companies, the yield is much lower with Hong Kong Land giving the highest yield of 2.9%. Notice most of these companies are trading below book value. This show some signs of undervalue for these companies which warrant us to do more in depth analysis on the soundness of their balance sheet, profitability and cash flow profile. Of course, the main reason that these stocks are beaten is due to the property cooling measures imposed by the Singapore Government. Once the cooling measures are removed (we do not know when), these companies potentially will start seeing re-rating of their share price.
| Name | SGX Code | Market Cap in S$B | Total Return YTD % | P/B | Dvd Ind Yld % | GICS® Sub Industry Name |
| CapitaLand | C31 | 13.4 | -5.7 | 0.8 | 2.8 | Diversified Real Estate Activities |
| City Developments | C09 | 6.9 | -0.9 | 0.8 | 1.1 | Diversified Real Estate Activities |
| UOL Group | U14 | 4.7 | -5.1 | 0.6 | 2.5 | Diversified Real Estate Activities |
| United Industrial Corporation | U06 | 4.2 | 4.5 | 0.7 | 1.0 | Diversified Real Estate Activities |
| Suntec REIT | T82U | 3.9 | 0.3 | 0.7 | 6.5 | Diversified REITs |
| Mapletree Greater China Commercial Trust | RW0U | 2.4 | -3.8 | 0.7 | 8.0 | Diversified REITs |
| Ascendas REIT | A17U | 5.8 | -1.3 | 1.1 | 6.8 | Industrial REITs |
| Mapletree Industrial Trust | ME8U | 2.7 | -1.0 | 1.1 | 7.4 | Industrial REITs |
| Mapletree Logistics Trust | M44U | 2.4 | -0.5 | 1.0 | 7.6 | Industrial REITs |
| CapitaLand Commercial Trust | C61U | 3.9 | -1.9 | 0.8 | 6.5 | Office REITs |
| Keppel REIT | K71U | 2.9 | -1.6 | 0.7 | 7.4 | Office REITs |
| Frasers Centrepoint Trust | J69U | 4.8 | -1.8 | 0.7 | 5.2 | Real Estate Development |
| Hongkong Land Holdings | H78 | 22.4 | -4.2 | 0.6 | 2.9 | Real Estate Operating Companies |
| Global Logistic Properties | MC0 | 9.4 | -7.9 | 0.8 | 2.8 | Real Estate Operating Companies |
| CapitaLand Mall Trust | C38U | 6.8 | -0.5 | 1.0 | 6.2 | Retail REITs |
| Mapletree Commercial Trust | N2IU | 2.7 | -1.5 | 1.0 | 6.3 | Retail REITs |
| Average | -2.1 | 0.8 | 5.1 |
The next table shows the 50 largest listed companies on SGX which comprises of the blue chips (typically safe and stable) which are giving on average 4.3% of dividend yield. Buying a STI ETF will cover much of these companies. We can apply some stock screening criteria to filter out some of the “unsafe” stock from the balance sheet or valuation perspective and select the truely defensive companies which we can hold for long term and feel safe enough to sleep soundly at night and pay us a good dividend yield for income while waiting for price appreciation.
| Name | SGX Code | Market Cap in S$B | Total Return YTD % | P/B | Dvd Ind Yld % | GICS® Sub Industry Name |
| Singapore Telecommunications | Z74 | 56.6 | -3.3 | 2.3 | 4.9 | Integrated Telecommunication Services |
| Jardine Matheson Holdings | J36 | 48.7 | 0.3 | 0.9 | 3.0 | Industrial Conglomerates |
| Jardine Strategic Holdings | J37 | 42.1 | -2.5 | 0.7 | 1.0 | Industrial Conglomerates |
| DBS Group Holdings | D05 | 39.3 | -5.8 | 1.0 | 3.8 | Diversified Banks |
| Oversea-Chinese Banking Corporation | O39 | 34.6 | -4.5 | 1.0 | 4.3 | Diversified Banks |
| United Overseas Bank | U11 | 29.6 | -6.1 | 1.1 | 4.6 | Diversified Banks |
| Hongkong Land Holdings | H78 | 22.4 | -4.2 | 0.6 | 2.9 | Real Estate Operating Companies |
| Wilmar International | F34 | 18.1 | -2.4 | 0.8 | 2.8 | Agricultural Products |
| Thai Beverage Public Company | Y92 | 17.2 | -0.7 | 4.0 | 3.3 | Distillers & Vintners |
| CapitaLand | C31 | 13.4 | -5.7 | 0.8 | 2.8 | Diversified Real Estate Activities |
| Jardine Cycle & Carriage | C07 | 13.1 | -4.6 | 1.9 | 3.4 | Distributors |
| Singapore Airlines | C6L | 12.8 | -1.7 | 1.0 | 2.5 | Airlines |
| Dairy Farm International Holdings | D01 | 11.9 | 1.9 | 6.0 | 3.8 | Food Retail |
| Keppel Corporation | BN4 | 10.5 | -10.9 | 1.0 | 8.3 | Industrial Conglomerates |
| Great Eastern Holdings | G07 | 9.5 | -1.2 | 1.6 | 2.5 | Life & Health Insurance |
| Global Logistic Properties | MC0 | 9.4 | -7.9 | 0.8 | 2.8 | Real Estate Operating Companies |
| Singapore Technologies Engineering | S63 | 9.0 | -3.7 | 4.4 | 3.1 | Aerospace & Defense |
| Genting Singapore PLC | G13 | 8.7 | -5.8 | 1.2 | 1.4 | Casinos & Gaming |
| Singapore Exchange | S68 | 7.9 | -3.8 | 9.3 | 3.9 | Specialized Finance |
| City Developments | C09 | 6.9 | -0.9 | 0.8 | 1.1 | Diversified Real Estate Activities |
| CapitaLand Mall Trust | C38U | 6.8 | -0.5 | 1.0 | 6.2 | Retail REITs |
| Hutchison Port Holdings Trust | NS8U | 6.5 | -1.2 | 0.8 | 7.9 | Marine Ports & Services |
| ComfortDelGro Corporation | C52 | 6.4 | -2.6 | 2.8 | 2.9 | Trucking |
| StarHub | CC3 | 6.1 | -4.3 | 32.1 | 5.6 | Wireless Telecommunication Services |
| Singapore Press Holdings | T39 | 6.0 | -4.1 | 1.7 | 4.0 | Publishing |
| Ascendas REIT | A17U | 5.8 | -1.3 | 1.1 | 7.3 | Industrial REITs |
| Sembcorp Industries | U96 | 5.0 | -8.9 | 0.9 | 5.8 | Industrial Conglomerates |
| Frasers Centrepoint Trust | J69U | 4.8 | -1.8 | 0.7 | 5.2 | Real Estate Development |
| UOL Group | U14 | 4.7 | -5.1 | 0.6 | 2.5 | Diversified Real Estate Activities |
| Olam International | O32 | 4.7 | -6.9 | 0.9 | 1.5 | Food Distributors |
| Golden Agri-Resources | E5H | 4.5 | 2.9 | 0.4 | 0.5 | Agricultural Products |
| United Industrial Corporation | U06 | 4.2 | 4.5 | 0.7 | 1.0 | Diversified Real Estate Activities |
| SATS | S58 | 4.2 | -1.0 | 2.9 | 3.7 | Airport Services |
| Genting Hong Kong | S21 | 4.0 | 4.9 | 0.5 | 3.0 | Hotels, Resorts & Cruise Lines |
| SIA Engineering Company | S59 | 4.0 | -3.2 | 3.0 | 4.1 | Airport Services |
| Yangzijiang Shipbuilding (Holdings) | BS6 | 3.9 | -6.8 | 0.8 | 5.4 | Construction Machinery & Heavy Trucks |
| Suntec REIT | T82U | 3.9 | 0.3 | 0.7 | 6.5 | Diversified REITs |
| CapitaLand Commercial Trust | C61U | 3.9 | -1.9 | 0.8 | 6.5 | Office REITs |
| Sembcorp Marine | S51 | 3.4 | -6.9 | 1.1 | 7.4 | Construction Machinery & Heavy Trucks |
| Singapore Post | S08 | 3.3 | -7.0 | 3.0 | 4.4 | Air Freight & Logistics |
| Neptune Orient Lines | N03 | 3.2 | 0.0 | 0.9 | N/A | Marine |
| Fraser and Neave | F99 | 3.0 | 1.4 | 1.3 | 2.4 | Brewers |
| First Resources | EB5 | 3.0 | -2.9 | 2.3 | 1.9 | Agricultural Products |
| Keppel REIT | K71U | 2.9 | -1.6 | 0.7 | 7.4 | Office REITs |
| Mapletree Commercial Trust | N2IU | 2.7 | -1.5 | 1.0 | 6.3 | Retail REITs |
| Mapletree Industrial Trust | ME8U | 2.7 | -1.0 | 1.1 | 7.4 | Industrial REITs |
| Mandarin Oriental International | M04 | 2.6 | -5.5 | 1.5 | 4.9 | Hotels, Resorts & Cruise Lines |
| Mapletree Logistics Trust | M44U | 2.4 | -0.5 | 1.0 | 7.6 | Industrial REITs |
| Mapletree Greater China Commercial Trust | RW0U | 2.4 | -3.8 | 0.7 | 8.0 | Diversified REITs |
| M1 | B2F | 2.4 | -5.5 | 6.5 | 7.4 | Wireless Telecommunication Services |
| Average | -2.9 | 2.3 | 4.3 |
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