, Singapore

What are the 5 strongest index stocks in the last 5 weeks?

Together, these stocks averaged a 19% total return.

The Singapore Stock Exchange (SGX) announced the five stocks of the FTSE ST All-Share Index with the strongest performance over a five-week period, from 31 July to 3 September.

These stocks were Olam International, Frencken, Yangzijiang Shipbuilding, OUE, and Straits Trading. Together, they averaged a total of 19% return over the allotted time. 

Olam International currently ranks outside the top 50 stocks. Based on its current market value, the company will also be the top stock in the STI Reserve List. 

Frencken Group, meanwhile, reported a profit after taxation and minority interests (PATMI) of $31.3m, an increase of 67.2%. 

Yangzijiang Shipbuilding, on the other hand, secured orders for a contract value of $9.66b (US$ 7.2b). A PATMI of $340b (RMB 1.64b) for the first half of 2021 was recorded. The group noted that shipbuilding orders reached a seven-year high in the first half of the financial year 2021 (H1 FY21), with a total contract value of $69.78 (US$52b).

OUE announced a turnaround profit attributable to shareholders of $30.1m for H1 FY21. The disposal of US Bank Tower in September 2020 and partial divestment of the OUE Bayfront Property helped minimize existing debt, while strengthening its cash reserves. 

The Straits Trading Company reported an increase in H1 FY21 earnings before interest, taxes, depreciation, and amortization to $186.9m, compared to $27.7m in H1 FY20.

After the September Index rebalancing, Aztech Global, G.H.Y Culture & Media Holding, The Place Holdings, and Propnex are slated to join the FTSE All-Share Index effective 17 September.

The FTSE ST All-Share Index is a market capitalisation weighted index that tracks the performance of companies listed on SGX that are within the top 98% by market capitalisation, SGX explained.

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