Thematic

STI & Next 50 Industrials: Comparing Growth, Profitability and Capital Efficiency

29 Oct 2026 By Ke Yan, CFA, FRM
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Abstract: Singapore’s industrial opportunity extends beyond the STI: the iEdge Singapore Next 50 adds nine companies to the STI’s seven, broadening access across four segments. Growth and returns underpin the sector's appeal. Median total shareholder return (TSR) over the three years to 2025 was 68.9% versus the STI's 66.4%. Correlation between three Next 50 constituents, Pan-United, SBS Transit and Boustead Singapore, and STI are below 0.30, suggesting potential diversification benefits alongside core STI exposure.

SINGAPORE TECH ENGINEERING (STE SP) SIA ENGINEERING (SIE SP) FRENCKEN (FRKN SP) SEATRIUM (STM SP) YANGZIJIANG SHIPBLDG HLDGS (YZJSGD SP) YANGZIJIANG MARITIME (8YZ SP) SINGAPORE AIRLINES (SIA SP) SATS (SATS SP) COMFORTDELGRO (CD SP) SBS TRANSIT (SBUS SP) KEPPEL (KEP SP) JARDINE MATHESON HLDGS (JM SP) BOUSTEAD SINGAPORE (BOCS SP) HONG LEONG ASIA (HLA SP) BRC ASIA (BRC SP) PAN-UNITED (PAN SP)

Highlighted Stocks

SINGAPORE TECH ENGINEERING, SIA ENGINEERING, FRENCKEN, SEATRIUM, YANGZIJIANG SHIPBLDG HLDGS, YANGZIJIANG MARITIME, SINGAPORE AIRLINES, SATS, COMFORTDELGRO, SBS TRANSIT, KEPPEL, JARDINE MATHESON HLDGS, BOUSTEAD SINGAPORE, HONG LEONG ASIA, BRC ASIA, PAN-UNITED

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