Chart of the Day: Singapore's food retailers buck APAC decline with 2018 average total returns of 10%

The stocks have averaged ROE of 19% in the past year.

The souring macro-environment failed to dent the bullish performance of Singapore's leading food retailers as Dairy Farm, Sheng Siong, BreadTalk and Old Chang Kee hit average total returns of 10% in 2018, data from SGX show.

In fact, the companies' positive stock performance stands in contrast to the average and median decline of their food retailing peers across Asia Pacific in 2018 with Dairy Farm leading the pack with a 20.5% gain to BreadTalk recording a 1.6% decline.

Also read: F&B service sales faced with flattish growth in 2018

Combined, the four stocks have averaged Return on Equity of 19% over the past 12 months with ROEs ranging from a strong 26.6% for Sheng Siong Group to 7.4% for BreadTalk Group. Dairy Farm's ROE stands at 25.7% whilst Old Chang Kee is at 17.7%.

"All four stocks maintain ROEs that are above the average and median ROEs of the Food Retailers and Wholesalers listed across Asia Pacific," SGX noted, adding that five year average ROEs also near 19%.

The four stocks also ate up $121.1m in institutional net inflows in 2018, with Sheng Siong Group receiving $96.3m of institutional net inflows, followed by Dairy Farm which saw $33.2m in net inflows. Smaller flows were observed in BreadTalk Group, which saw $8.6m in outflow and Old Chang Kee which saw $0.3m in inflow. Overall, institutions were net sellers of Singapore equities with $1.5b in outflow in 2018.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia