Singaporean Potentially Undervalued Companies

Sasseur Real Estate Investment Trust

Market Cap: S$853.8m

Invests in a portfolio of real estate and related assets.

Digital Core REIT

Market Cap: US$612.9m

Digital Core REIT (SGX: DCRU) is a leading pure-play data centre REIT listed in Singapore and sponsored by Digital Realty, the largest global data centre owner and operator.

Stoneweg Europe Stapled Trust

Market Cap: €834.1m

SERT”, formerly Cromwell European REIT and renamed as Stoneweg European REIT following the change in Sponsor) is a stapled group comprising Stoneweg European Real Estate Investment Trust and Stoneweg European Business Trust.

Frencken Group

Market Cap: S$627.8m

An investment holding company, provides original design, original equipment, and diversified integrated manufacturing solutions worldwide.

Stoneweg Europe Stapled Trust

Market Cap: S$834.1m

SERT”, formerly Cromwell European REIT and renamed as Stoneweg European REIT following the change in Sponsor) is a stapled group comprising Stoneweg European Real Estate Investment Trust and Stoneweg European Business Trust.

Indofood Agri Resources

Market Cap: S$516.5m

Operates as a vertically integrated agribusiness company in Singapore, Indonesia, China, Nigeria, Timor Leste, and internationally.

Singapore Telecommunications

Market Cap: S$70.0b

Provides telecommunication services to consumers and small businesses in Singapore, Australia, and internationally.

CNMC Goldmine Holdings

Market Cap: S$547.1m

An investment holding company, engages in the exploration and mining of gold deposits in Malaysia.

Yangzijiang Shipbuilding (Holdings)

Market Cap: S$12.9b

An investment holding company, engages in the shipbuilding activities in the Greater China, Canada, Japan, Italy, Greece, Germany, Bulgaria, United Kingdom, Singapore, and internationally.

China Aviation Oil (Singapore)

Market Cap: S$1.1b

Trades in and supplies jet fuel to civil aviation industry worldwide.

Keppel Pacific Oak US REIT

Market Cap: US$235.0m

Keppel Pacific Oak US REIT (KORE) is a distinctive office REIT listed on the main board of the Singapore Exchange Securities Trading Limited (SGX-ST) on 9 November 2017.

First Resources

Market Cap: S$2.6b

An investment holding company, engages in the palm oil production activities in Singapore, Indonesia, Europe, China, Malaysia, and internationally.

Centurion

Market Cap: S$1.2b

Owns, develops, and manages workers and student accommodation assets in Singapore, Malaysia, Australia, the United Kingdom, and internationally.

CSE Global

Market Cap: S$528.4m

An investment holding company, engages in the provision of integrated industrial automation, information technology, and intelligent transport solutions in the Asia Pacific, the Americas, Europe, the Middle East, and Africa.

Kasikornbank

Market Cap: S$394.5b

Provides commercial banking products and services in Thailand and internationally.

UMS Integration

Market Cap: S$994.8m

An investment holding company, manufactures and markets precision machining components, and provides electromechanical assembly and final testing services.

StarHub

Market Cap: S$1.9b

Provides communications, entertainment, and digital solutions for individuals and corporations in Singapore.

Zixin Group Holdings

Market Cap: S$57.2m

An investment holding company, engages in the research and development, cultivation, production, supply, and sale of sweet potato snack food products in the People’s Republic of China.

United Hampshire US Real Estate Investment Trust

Market Cap: US$299.7m

Listed on the Main Board of the Singapore Exchange on 12 March 2020, UHREIT is a Singapore real estate investment trust established with the principal investment strategy of investing in a diversified portfolio of stabilised income-producing (i) grocery-anchored and necessity-based retail properties (“Grocery & Necessity Properties”), and (ii) modern, climate-controlled self-storage facilities (“Self-Storage Properties”), located in the U.S.

Pacific Radiance

Market Cap: S$149.1m

An investment holding company, owns, operates, and manages offshore vessels and provides offshore support services.

Mermaid Maritime

Market Cap: S$236.3m

Operates as a subsea and offshore services company in Thailand, Qatar, the United Arab Emirates, the United Kingdom, and Saudi Arabia.

OUE Real Estate Investment Trust

Market Cap: S$1.9b

OUE Real Estate Investment Trust ("OUE REIT"), formerly known as OUE Commercial Real Estate Investment Trust, is one of the largest diversified Singapore REITs ("S-REITs") with total assets under management of S$5.8 billion as of 31 December 2024.

Meituan

Market Cap: S$609.6b

Operates as a technology driven retail company in the People’s Republic of China, Hong Kong, Macao, Taiwan, and internationally.

Bank of China

Market Cap: S$1.7t

Provides various banking and financial services in Chinese Mainland, Hong Kong, Macao, Taiwan, and internationally.

First Real Estate Investment Trust

Market Cap: S$590.0m

First Real Estate Investment Trust (“First REIT” or the “Trust”), is a healthcare real estate investment trust focused on investing in diverse yield-accretive healthcare and healthcare-related real estate assets within and outside of Asia.

Singapore Telecommunications

Market Cap: S$70.0b

Provides telecommunication services to consumers and small businesses in Singapore, Australia, and internationally.

Jardine Cycle & Carriage

Market Cap: S$11.3b

An investment holding company, engages in providing the financial services, heavy equipment, mining, construction and energy, agribusiness, infrastructure and logistics, information technology, and property businesses in Indonesia, Singapore, and Malaysia.

Keppel DC REIT

Market Cap: S$5.3b

Keppel DC REIT was listed on the Singapore Exchange on 12 December 2014 as the first pure-play data centre REIT in Asia.

PTT Exploration and Production

Market Cap: S$442.7b

Engages in the exploration, development, and production of petroleum in Thailand and internationally.

China Sunsine Chemical Holdings

Market Cap: S$710.3m

An investment holding company, manufactures and sells specialty chemicals in the People’s Republic of China, rest of Asia, America, Europe, and internationally.

ESR-REIT

Market Cap: S$2.3b

A leading New Economy and future-ready Asia Pacific S-REIT.

Tiong Woon Corporation Holding

Market Cap: S$183.1m

An investment holding company, provides integrated services for the oil and gas, petrochemical, infrastructure, and construction sectors.

Manulife US Real Estate Investment Trust

Market Cap: US$137.6m

Manulife US Real Estate Investment Trust (“Manulife US REIT” or “MUST”) is the first pure-play U.S.

ComfortDelGro

Market Cap: S$3.2b

Provides public transportation services in Singapore, the United Kingdom, Australia, China, and Malaysia.

Soilbuild Construction Group

Market Cap: S$587.4m

An investment holding company, engages in the residential and business space properties construction in Singapore, Myanmar, Malaysia, and internationally.

Elite UK REIT

Market Cap: UK£213.6m

Operates as a real estate investment trust.