10 Best Performing Stocks in Singapore 2023
In 2023, despite the lackluster performance of the STI index, its constituent stocks Keppel and Sembcorp have still achieved impressive results, with YTD increases of over 50%. $SIA(C6L.SG)$ closely follows them. This article will look at the top 10 best-performing SG stocks in 2023.
10 Best-performing Stock in Singapore 2023
Based on year-to-date gains as of 18 December 2023, the 10 best-performing SG stocks are Keppel Corp, Sembcorp Ind, SIA, ST Engineering, YZJ Shipbldg SGD, SGX, OCBC Bank, Genting Sing, Jardine C&C, Emprador Inc.
$Keppel Corp(BN4.SG)$ and $Sembcorp Ind(U96.SG)$ have surged by almost 60% this year, outpacing the sluggish performance of the broader market and leading the $FTSE Singapore Straits Time Index(.STI.SG)$. $SIA(C6L.SG)$ closely follows them.
$Keppel Corp(BN4.SG)$ has recently announced its acquisition of Aeromont Capital, a significant player in the European real estate market. This transaction is expected to bring long-term benefits to the company and enable global investment and development. As a result, analysts have expressed optimism about the stock, with UOB Kay Hian analysts maintaining a buy rating and giving a target price of S$9.09. Similarly, CGS-CIMB analysts have reiterated an overweight rating and maintained a target price of S$8.70, which is more than a 20% increase from the current price.
$Sembcorp Ind(U96.SG)$'s recent acquisitions of wind, solar, and hydropower power assets in Vietnam, China, India, and other regions will increase its total global renewable energy installed capacity to 12.6GW. According to UOB Kay Hian analysts, these acquisitions in the green energy sector and the expansion of its total renewable energy capacity have the potential to catalyze the next stage of stock price growth. The agency maintains a buy rating and a target price of S$7.20.
Below are the best-performing Singapore stocks so far in 2023:
1. Keppel Corp (BN4)
Company Profile
Industry: Conglomerates
Singapore-based Keppel is a conglomerate with well diversified businesses. The key operating segments are energy and environment, urban development (including property development), connectivity (including telecommunication services and operation of data centers) and asset management. In 2022, asset management was the largest earnings contributor, representing about one-third of the group’s earnings.
Key Indicators
YTD Increase: +58.73%
H1 FY2023 Earnings Data
Revenue: 3.72B
Revenue YoY Increase: +10.72%
EPS: 2.01
EPS YoY Increase: 627.54%
PE: 3.11
Industry Avg PE: 6.24
2. Sembcorp Ind (U96)
Company Profile
Industry: Conglomerates
Sembcorp Industries Ltd is an investment holding company engaged in the production and supply of utility services, and handling and storage of petroleum products and chemicals. Its business is divided into four segments: Energy, Urban, and Others/Corporate. The company's service portfolio includes power generation, process steam production, wastewater treatment, integrated solutions for offshore and marine industry such as specialized shipbuilding, and repairs & upgrades, and development and marketing of commercial and residential spaces, among others. A vast majority of the company's income is generated by the energy segment, and the majority of the company's revenue is earned in Singapore and India together.
Key Indicators
YTD Increase: +56.62%
H1 FY2023 Earnings Data
Revenue: 3.66B
Revenue YoY Increase: -6.23%
EPS: 0.29
EPS YoY Increase: +8.67%
PE: 10.55
Industry Avg PE: 6.24
3. SIA (C6L)
Company Profile
Industry: Transportation
Singapore Airlines is Singapore's flagship carrier and one of the region’s largest airlines in revenue and carrying capacity. The company’s hub is Changi Airport, providing regional and cross-continental passenger and cargo services destined to or transit through Singapore. The company operates under dual brands: the premium carrier, SIA, coupled with its wholly owned subsidiary, and the low-cost regional carrier Scoot. It also owns stakes in SATs and SIA Engineering.
Key Indicators
YTD Increase: +23.69%
Q2 FY2024 Earnings Data
Revenue: 4.68B
Revenue YoY Increase: +4.34%
EPS: 0.24
EPS YoY Increase: +26.81%
PE: 12.58
Industry Avg PE: 12.42
4. ST Engineering (S63)
Company Profile
Industry: Aerospace & Defense
Singapore Technologies Engineering is a Singaporean government-linked commercial and defense engineering group. Its key businesses include aircraft maintenance, repair, and overhaul services, in which it is the world’s largest independent third-party provider. The company’s fastest-growing activities involve applications to smart city solutions where it provides tolling solutions, traffic control systems, command and control dashboards, cybersecurity tools, and other related components. Around two-thirds of the company’s revenue comes from commercial clients while the remainder is defense.
Key Indicators
YTD Increase: +16.61%
H1 FY2023 Earnings Data
Revenue: 4.86B
Revenue YoY Increase: +13.90%
EPS: 0.09
EPS YoY Increase: +0.22%
PE: 22.40
Industry Avg PE: 16.10
5. YZJ Shipbldg SGD (BS6)
Company Profile
Industry: Aerospace & Defense
Yangzijiang Shipbuilding (Holdings) Ltd is a large conglomerate, with shipbuilding and offshore engineering as its core focus. Its reportable segments comprise Shipbuilding, Shipping and others. The majority of revenue gets derived from the Shipbuilding segment that of shipbuilding and offshore marine equipment construction. The principal activities of the shipping segment consist of charter hire income earned by vessel owning companies. Geographically, it generates revenue from China.
Key Indicators
YTD Increase: +10.69%
FY2022 Annual Report Data
Revenue: 20.71B
Revenue YoY Increase: +36.78%
EPS: 0.71
EPS YoY Increase: -25.62%
PE: 10.72
Industry Avg PE: 16.13
6. SGX (S68)
Company Profile
Industry: Capital Markets
Singapore Exchange is a vertically integrated securities exchange business, offering listing, data, trading, clearing and settlement services across equities, debt and derivatives. Singapore Exchange, like Singapore itself, is remarkably outward-facing and offers some of the most liquid and widely traded equity derivative products for various regional markets, including the FTSE China A50 Index Futures and the Indian Nifty 50 Index Futures.
Key Indicators
YTD Increase: +10.44%
FY2023 Annual Report Data
Revenue: 1.19B
Revenue YoY Increase: +8.68%
EPS: 0.52
EPS YoY Increase: +26.34%
PE: 18.63
Industry Avg PE: 0.14
7. OCBC Bank (O39)
Company Profile
Industry: Banks
Oversea-Chinese Banking, or OCBC, is the longest-established Singapore bank, founded by the merger of three local banks in 1932. The group's operations include consumer banking; wealth management and private banking (offering through its Bank of Singapore subsidiary); small to midsize enterprise and business banking; corporate and institutional banking; and insurance through majority owned Great Eastern.
Key Indicators
YTD Increase: +9.67%
Q3 FY2023 Earnings Data
Revenue: 3.43B
Revenue YoY Increase: +13.13%
EPS: 0.47
EPS YoY Increase: +16.57%
PE: 7.93
Industry Avg PE: 4.43
8. Genting Sing (G13)
Company Profile
Industry: Travel & Leisure
Genting Singapore is engaged in the development and operation of integrated resort destinations, including gaming, hospitality, meetings, and leisure and entertainment facilities. It owns Resorts World Sentosa in Singapore, one of the leading integrated resort destinations in Asia, which offers a casino, Adventure Cove Waterpark, S.E.A. Aquarium, Universal Studios Singapore theme park, facilities for meetings, incentives, conventions, and exhibitions, hotels, Michelin-starred restaurants, and specialty retail outlets.
Key Indicators
YTD Increase: +6.52%
H1 FY2023 Earnings Data
Revenue: 1.08B
Revenue YoY Increase: +62.93%
EPS: 0.02
EPS YoY Increase: +227.14%
PE: 22.27
Industry Avg PE: 18.54
9. Jardine C&C (C07)
Company Profile
Industry: Travel & Leisure
Genting Singapore is engaged in the development and operation of integrated resort destinations, including gaming, hospitality, meetings, and leisure and entertainment facilities. It owns Resorts World Sentosa in Singapore, one of the leading integrated resort destinations in Asia, which offers a casino, Adventure Cove Waterpark, S.E.A. Aquarium, Universal Studios Singapore theme park, facilities for meetings, incentives, conventions, and exhibitions, hotels, Michelin-starred restaurants, and specialty retail outlets.
Key Indicators
YTD Increase: +6.52%
H1 FY2023 Earnings Data
Revenue: 1.08B
Revenue YoY Increase: +62.93%
EPS: 0.02
EPS YoY Increase: +227.14%
PE: 22.27
Industry Avg PE: 18.54
10. Emperador Inc (EMI)
Company Profile
Industry: -
Emperador Inc manufactures, sells, and distributes spirits and other alcoholic beverages through two main business segments: brandy and Scotch whiskey. The brandy segment, which accounts for more than half of the company's total revenue focuses on sales in the Philippines and Spain. This segment also has a distribution network for its operations, which includes sales offices and distribution outlets throughout the Philippines. The Scotch whiskey business sells in the United Kingdom. Brands that Emperador owns or licenses include The Dalmore, Fundador, Jura, Emperador, Andy Player, Whyte and Mackay, Smirnoff, and BaR. The company produces in the Philippines and Europe.
Key Indicators
YTD Increase: +3.37%
Q3 FY2023 Earnings Data
Revenue: 15.97B
Revenue YoY Increase: +9.53%
EPS: 0.13
EPS YoY Increase: -35.00%
PE: 35.33
Industry Avg PE: -
Source: SGX, Bloomberg, moomoo, sginvestors.io