Billionaire stocks on SGX average 23.1% returns this year

The local market now has 105 listed firms in the "billionaires club", said the Singapore Exchange yesterday.

These companies - with a market capitalisation above $1 billion - span both local and international businesses operating across a number of different sectors and industries. They have averaged total returns of 23.1 per cent so far this year, including dividends, which are assumed to be re-invested.

This is in line with the Straits Times Index (STI), which has generated a total return of 24.1 per cent for the same period.

Among the 105 stocks, 47 represent the real estate sector through developers, managers and trusts. Together, these 47 have averaged 25.5 per cent total returns in the year to date.

The billionaire stocks have averaged total returns of 4.4 per cent in this quarter so far, with 74 posting gains, four staying unchanged and 27 declining.

The three strongest billionaire stocks this quarter are Cosco Shipping International (Singapore), Hi-P International and Oxley Holdings.

Cosco recently proposed to buy out logistics manager Cogent Holdings, following shareholder approval to sell shipyard assets. This is expected to be completed by the end of this quarter.

The stock has gained 58 per cent so far this quarter, taking its year-to-date total return to 60.7 per cent.

Hi-P International has been the strongest performer of the billionaire stocks in the year so far, in addition to being the second-best performer in the final quarter.

The contract manufacturer and Apple supplier reported 25 per cent year-on-year growth in net profit for its third quarter ending Sept 30. Its stock price has gained more than 200 per cent in the year to date, with a 30 per cent rise this quarter.

Oxley Holdings has gained 24 per cent so far this quarter.

The home-grown property developer, with a business presence in 12 geographical markets, reported on Nov 1 that its net profit of $45.9 million for the first quarter rose 199 per cent year on year.

A version of this article appeared in the print edition of The Straits Times on December 14, 2017, with the headline 'Billionaire stocks on SGX average 23.1% returns this year'. Print Edition | Subscribe