Comprehensive Insights into Singapore’s Equity Market: An In-Depth Analysis of Listed Companies
Date: 16 December 2024
Broker: OCBC Investment Research
Introduction
In the ever-evolving landscape of Singapore’s equity market, 2024 has been a remarkable year. The Straits Times Index (STI) has seen a notable rise, nearing its historical high, driven by robust performances across various sectors, particularly banking. As we delve into the details, this report provides a comprehensive analysis of the listed companies, offering insights into their performance, forecasts, and strategic recommendations.
AIMS APAC REIT
AIMS APAC REIT, trading at \$1.24 with a fair value of \$1.50, presents a 17.2% upside. The REIT sector in Singapore has shown resilience, with strategic positioning to capitalize on market trends. As REITs adapt to geopolitical and economic fluctuations, AIMS APAC REIT stands out with its solid foundation and potential for growth.
Bumitama Agri Ltd
Bumitama Agri Ltd, valued at \$0.88 with a fair value of \$0.92, shows no significant upside. Operating in the food sector, this company faces challenges amidst economic uncertainties. The focus remains on maintaining stability and adapting to market demands, with a cautious approach towards growth.
Boustead Singapore Ltd
Boustead Singapore Ltd, priced at \$1.02 with a fair value of \$1.39, indicates a 33.7% potential upside. As a leader in engineering and construction, Boustead continues to leverage its expertise to navigate market challenges. The company’s strategic initiatives aim to enhance its project portfolio and expand its market presence.
China Aviation Oil Singapore Co.
China Aviation Oil Singapore Co. stands at \$0.91, with a fair value pegged at \$1.10, offering a 25.7% upside. The oil and gas supply chain sector thrives on this company’s strategic positioning, capitalizing on regional demand and global trade dynamics.
ComfortDelGro Corp Ltd
ComfortDelGro Corp Ltd, trading at \$1.46 with a fair value of \$1.67, offers a 13.6% upside. As a leader in transportation and logistics, the company focuses on strategic expansion and enhancing its service offerings to maintain its competitive edge.
Cromwell European Real Estate Investment Trust
Cromwell European Real Estate Investment Trust, priced at \$1.60 with a fair value of \$1.89, presents a 15.2% upside. The REIT sector continues to adapt to market fluctuations, with Cromwell focusing on strategic asset management and expansion within the European market.
CapitaLand Integrated Commercial Trust
CapitaLand Integrated Commercial Trust, at \$1.93 with a fair value of \$2.41, indicates a 19.3% upside. As a prominent player in the REIT sector, CapitaLand focuses on strategic property management and maximizing shareholder value through targeted investments.
City Developments Ltd
City Developments Ltd, trading at \$5.23 with a fair value of \$6.57, offers a substantial 30.1% upside. As a key player in real estate, the company capitalizes on market trends and strategic acquisitions to drive growth and enhance its portfolio.
CapitaLand Ascendas REIT
CapitaLand Ascendas REIT, valued at \$2.55 with a fair value of \$3.32, presents an 18.8% upside. The REIT sector thrives on strategic asset management, with CapitaLand focusing on expanding its portfolio and enhancing operational efficiency.
CapitaLand Ascott Trust
CapitaLand Ascott Trust, priced at \$0.88 with a fair value of \$1.06, indicates a 17.1% upside. As a leader in the REIT sector, the trust focuses on strategic acquisitions and enhancing its service offerings to maintain its competitive edge.
CapitaLand China Trust
CapitaLand China Trust, trading at \$0.71 with a fair value of \$0.87, offers a 15.2% upside. The focus remains on strategic asset management and expansion within the Chinese market to maximize shareholder value.
CapitaLand Investment Ltd/Singapore
CapitaLand Investment Ltd/Singapore, at \$2.65 with a fair value of \$3.93, presents a significant 39.4% upside. As a leader in asset management, the company focuses on strategic investments and expanding its service offerings to maintain its market position.
Capitaland India Trust
Capitaland India Trust, priced at \$1.07 with a fair value of \$1.28, offers a 14.3% upside. The focus remains on strategic asset management and expansion within the Indian market to drive growth and enhance its portfolio.
DBS Group Holdings Ltd
DBS Group Holdings Ltd, trading at \$43.74 with a fair value of \$45.20, indicates a 4.6% upside. As a leader in banking, DBS focuses on strategic expansion and enhancing its service offerings to maintain its competitive edge.
Frasers Centrepoint Trust
Frasers Centrepoint Trust, valued at \$2.11 with a fair value of \$2.53, presents a 12.4% upside. The REIT sector thrives on strategic asset management, with Frasers focusing on expanding its portfolio and enhancing operational efficiency.
First Real Estate Investment Trust
First Real Estate Investment Trust, priced at \$0.26 with a fair value of \$0.28, indicates a 3.7% upside. The focus remains on strategic asset management and expansion within the real estate market to maintain stability.
Frasers Logistics & Commercial Trust
Frasers Logistics & Commercial Trust, trading at \$0.89 with a fair value of \$1.28, offers a 25.5% upside. As a leader in the REIT sector, the trust focuses on strategic acquisitions and enhancing its service offerings to drive growth.
Frencken Group Ltd
Frencken Group Ltd, valued at \$1.17 with a fair value of \$1.42, presents a 17.4% upside. Operating in the electrical equipment sector, Frencken leverages its expertise to navigate market challenges and enhance its product offerings.
Genting Singapore Ltd
Genting Singapore Ltd, priced at \$0.77 with a fair value of \$1.03, indicates a significant 32.1% upside. As a key player in leisure facilities and services, Genting focuses on strategic expansion and enhancing its service offerings to drive growth.
Golden Agri-Resources Ltd
Golden Agri-Resources Ltd, trading at \$0.28 with a fair value of \$0.27, shows no significant upside. Operating in the food sector, the company faces challenges amidst economic uncertainties, focusing on maintaining stability.
Keppel Infrastructure Trust
Keppel Infrastructure Trust, valued at \$0.45 with a fair value of \$0.51, presents a 14.6% upside. The focus remains on strategic asset management and expansion within the chemicals sector to drive growth and enhance its portfolio.
Keppel REIT
Keppel REIT, priced at \$0.86 with a fair value of \$1.02, indicates a 10.9% upside. The REIT sector thrives on strategic asset management, with Keppel focusing on expanding its portfolio and enhancing operational efficiency.
Mapletree Industrial Trust
Mapletree Industrial Trust, trading at \$2.21 with a fair value of \$2.77, offers a 15.4% upside. As a leader in the REIT sector, the trust focuses on strategic acquisitions and enhancing its service offerings to drive growth.
Mapletree Logistics Trust
Mapletree Logistics Trust, valued at \$1.27 with a fair value of \$1.68, presents a 20.0% upside. The focus remains on strategic asset management and expansion within the logistics sector to enhance its portfolio.
Mapletree Pan Asia Commercial Trust
Mapletree Pan Asia Commercial Trust, priced at \$1.21 with a fair value of \$1.54, indicates a 14.9% upside. As a leader in the REIT sector, the trust focuses on strategic acquisitions and enhancing its service offerings to maintain its competitive edge.
Nanofilm Technologies International
Nanofilm Technologies International, trading at \$0.78 with a fair value of \$0.76, shows a downside of -3.2%. Operating in the chemicals sector, the company faces challenges amidst economic uncertainties, focusing on maintaining stability.
NETLINK NBN TRUST
NETLINK NBN TRUST, valued at \$0.86 with a fair value of \$1.01, presents a 13.5% upside. As a leader in telecommunications, the trust focuses on strategic expansion and enhancing its service offerings to maintain its competitive edge.
OUE Real Estate Investment Trust
OUE Real Estate Investment Trust, priced at \$0.28 with a fair value of \$0.34, indicates a 17.2% upside. The focus remains on strategic asset management and expansion within the real estate market to drive growth and enhance its portfolio.
Parkway Life Real Estate Investment Trust
Parkway Life Real Estate Investment Trust, trading at \$3.64 with a fair value of \$4.49, offers a 19.7% upside. As a leader in the REIT sector, the trust focuses on strategic acquisitions and enhancing its service offerings to maintain its competitive edge.
Propnex Ltd
Propnex Ltd, valued at \$0.94 with a fair value of \$0.96, presents a 4.3% upside. Operating in real estate services, Propnex focuses on strategic expansion and enhancing its service offerings to maintain its competitive edge.
Riverstone Holdings Ltd
Riverstone Holdings Ltd, priced at \$1.04 with a fair value of \$1.16, indicates an 8.4% upside. Operating in the medical equipment and devices sector, Riverstone leverages its expertise to navigate market challenges and enhance its product offerings.
SATS Ltd
SATS Ltd, trading at \$3.67 with a fair value of \$4.38, offers a 13.8% upside. As a leader in transportation and logistics, SATS focuses on strategic expansion and enhancing its service offerings to maintain its competitive edge.
Sembcorp Industries Ltd
Sembcorp Industries Ltd, valued at \$5.56 with a fair value of \$6.70, presents a 27.9% upside. Operating in electric utilities, Sembcorp focuses on strategic expansion and enhancing its service offerings to drive growth.
Sea Ltd
Sea Ltd, priced at \$116.47 with a fair value of \$135.00, indicates a 28.6% upside. As a key player in e-commerce discretionary, Sea Ltd focuses on strategic expansion and enhancing its service offerings to drive growth.
Starhill Global REIT
Starhill Global REIT, trading at \$0.50 with a fair value of \$0.55, offers an 8.9% upside. As a leader in the REIT sector, the trust focuses on strategic acquisitions and enhancing its service offerings to maintain its competitive edge.
Singapore Exchange Ltd
Singapore Exchange Ltd, valued at \$12.46 with a fair value of \$12.21, presents a slight upside of 0.4%. As a leader in institutional financial services, the exchange focuses on strategic expansion and enhancing its service offerings to maintain its competitive edge.
Singapore Airlines Ltd
Singapore Airlines Ltd, priced at \$6.42 with a fair value of \$6.30, indicates a slight upside of 0.2%. As a leader in transportation and logistics, Singapore Airlines focuses on strategic expansion and enhancing its service offerings to maintain its competitive edge.
SIA Engineering Co Ltd
SIA Engineering Co Ltd, trading at \$2.37 with a fair value of \$2.76, offers a 12.7% upside. As a leader in transportation and logistics, SIA Engineering focuses on strategic expansion and enhancing its service offerings to maintain its competitive edge.
Singapore Post Ltd
Singapore Post Ltd, valued at \$0.58 with a fair value of \$0.58, shows a slight downside of -0.9%. Operating in transportation and logistics, the company focuses on maintaining stability amidst economic uncertainties.
Sheng Siong Group Ltd
Sheng Siong Group Ltd, priced at \$1.64 with a fair value of \$1.88, indicates a 22.9% upside. Operating in retail – consumer staples, Sheng Siong focuses on strategic expansion and enhancing its service offerings to drive growth.
Singapore Telecommunications Ltd
Singapore Telecommunications Ltd, trading at \$3.14 with a fair value of \$3.85, offers a 21.1% upside. As a leader in telecommunications, the company focuses on strategic expansion and enhancing its service offerings to maintain its competitive edge.
Singapore Technologies Engineering
Singapore Technologies Engineering, valued at \$4.53 with a fair value of \$4.83, presents a 10.5% upside. Operating in aerospace and defense, the company focuses on strategic expansion and enhancing its service offerings to maintain its competitive edge.
Seatrium Ltd
Seatrium Ltd, priced at \$2.01 with a fair value of \$2.64, indicates a significant 36.8% upside. Operating in oil & gas services and equipment, Seatrium focuses on strategic expansion and enhancing its service offerings to drive growth.
Thai Beverage PCL
Thai Beverage PCL, trading at \$0.57 with a fair value of \$0.69, offers a 30.2% upside. As a leader in beverages, the company focuses on strategic expansion and enhancing its service offerings to maintain its competitive edge.
United Overseas Bank Ltd
United Overseas Bank Ltd, valued at \$37.35 with a fair value of \$37.50, presents a 5.1% upside. As a leader in banking, UOB focuses on strategic expansion and enhancing its service offerings to maintain its competitive edge.
UOL Group Ltd
UOL Group Ltd, priced at \$5.26 with a fair value of \$8.11, indicates a substantial 54.2% upside. Operating in real estate owners and developers, UOL focuses on strategic acquisitions and enhancing its property portfolio to drive growth.
Wilmar International Ltd
Wilmar International Ltd, trading at \$3.05 with a fair value of \$3.54, offers a 14.6% upside. Operating in the food sector, Wilmar focuses on strategic expansion and enhancing its service offerings to drive growth.
Conclusion
The landscape of Singapore’s equity market is vibrant, with various sectors showing resilience and growth potential. While challenges persist, strategic positioning and adaptive measures remain key for companies to thrive. Investors are encouraged to consider these insights when making informed decisions to capitalize on emerging opportunities.
