Singaporean Potentially Undervalued Companies

ISEC Healthcare

Market Cap: S$201.3m

An investment holding company, provides medical care, consultancy, treatment, and surgery services in the field of ophthalmology in Singapore, Malaysia, and Myanmar.

Hiap Tong

Market Cap: S$26.0m

Provides hydraulic lifting and haulage services to the marine, petrochemical, and construction industries in Singapore and Malaysia.

Reclaims Global

Market Cap: S$39.3m

Operates as an eco-friendly integrated service provider in the construction industry in Singapore.

HC Surgical Specialists

Market Cap: S$41.4m

An investment holding company, provides medical services primarily in Singapore.

Ocean Sky International

Market Cap: S$9.0m

An investment holding company, engages in building and civil engineering, construction, and related services businesses in Singapore, Cambodia, and Australia.

Choo Chiang Holdings

Market Cap: S$83.1m

An investment holding company, engages in the retail and distribution of electrical products and accessories in Singapore.

Mencast Holdings

Market Cap: S$11.1m

An investment holding company, engages in the provision of engineering and maintenance, repair, and overhaul solutions in Singapore, Asia, and internationally.

Keppel DC REIT

Market Cap: S$4.9b

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

Kingsmen Creatives

Market Cap: S$75.7m

An investment holding company, engages in the provision of corporate marketing and related services in South Asia, North Asia, the Middle East, the United States, Canada, Europe, and internationally.

Geo Energy Resources

Market Cap: S$502.0m

An investment holding company, engages in the mining, production, and trading of coal.

OUE Healthcare

Market Cap: S$102.2m

An investment holding company, owns, operates, and invests in healthcare businesses in Singapore, China, Myanmar, Indonesia, and Japan.

First Real Estate Investment Trust

Market Cap: S$545.7m

First Real Estate Investment Trust (“First REIT” or the “Trust”), is a healthcare real estate investment trust focused on investing in income producing real estate properties which are primarily used for healthcare and healthcare related purposes.

Niks Professional

Market Cap: S$22.8m

Provides family practice dermatology and aesthetic medical services under the NIKS brand in Singapore.

PC Partner Group

Market Cap: S$2.8b

An investment holding company, designs, develops, manufactures, and sells computer electronics.

Union Steel Holdings

Market Cap: S$60.2m

An investment holding company, provides metals and engineering related services in Singapore, the United Arab Emirates, India, Brazil, China, and internationally.

International Cement Group

Market Cap: S$91.8m

Engages in the production, sale, and distribution of cement, gypsum plasterboards, and related products in Singapore, Malaysia, Afghanistan, Tajikistan, Kazakhstan, and internationally.

Food Innovators Holdings

Market Cap: S$19.2m

An investment holding company, engages in the restaurant business in Singapore, Japan, Malaysia, and Taiwan.

Suntar Eco-City

Market Cap: S$5.2m

An investment holding company, engages in the health and nutrition, and property development businesses in the People’s Republic of China.

Tat Seng Packaging Group

Market Cap: S$128.1m

Designs, manufactures, and sells corrugated paper products and other packaging products in Singapore and the People's Republic of China.

ComfortDelGro

Market Cap: S$3.3b

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

OUE

Market Cap: S$711.0m

Operates as a real estate development, investment, and management company in Singapore, the People’s Republic of China, Japan, Indonesia, and Myanmar.

Frencken Group

Market Cap: S$431.4m

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

Old Chang Kee

Market Cap: S$109.2m

An investment holding company, engages in the manufacture and distribution of food products under the Old Chang Kee brand in Singapore, Australia, and Malaysia.

SIIC Environment Holdings

Market Cap: S$414.7m

An investment holding company, engages in the wastewater treatment, water supply, sludge treatment, solid waste incineration, and other environment related businesses primarily in the People's Republic of China.

CapitaLand Integrated Commercial Trust

Market Cap: S$15.7b

CapitaLand Integrated Commercial Trust (CICT) is the first and largest real estate investment trust (REIT) listed on Singapore Exchange Securities Trading Limited (SGX-ST) with a market capitalisation of S$14.1 billion as at 31 December 2024.

GKE

Market Cap: S$58.6m

An investment holding company, provides warehousing and logistic services in Singapore and the People’s Republic of China.

Singapore Post

Market Cap: S$1.3b

Engages in post and parcel, eCommerce logistics, and property businesses in Singapore, Japan, Europe, New Zealand, Hong Kong, Australia, and internationally.

Singapore Land Group

Market Cap: S$2.9b

An investment holding company, engages in the development of properties for investment and trading in Singapore and internationally.

mDR

Market Cap: S$28.7m

An investment holding company, engages in the distribution and retail of telecommunication products and services in Singapore and Malaysia.

Wilmar International

Market Cap: S$19.1b

Operates as an agribusiness company in the People's Republic of China, South East Asia, India, Europe, Australia, New Zealand, Africa, and internationally.

QAF

Market Cap: S$480.3m

An investment holding company, engages in the manufacture and distribution of bread, bakery, and confectionery products in Singapore, Australia, the Philippines, Malaysia, and internationally.

Japan Foods Holding

Market Cap: S$46.9m

Operates a chain of Japanese restaurants in Singapore.

Huationg Global

Market Cap: S$38.1m

An investment holding company, provides civil engineering services for infrastructure projects primarily in Singapore.

Wong Fong Industries

Market Cap: S$37.1m

An investment holding company, provides land transport engineering solutions and systems in Singapore, Malaysia, and Myanmar.

Megachem

Market Cap: S$53.3m

An investment holding company, trades in chemicals and chemical-related products in Singapore, Malaysia, United Kingdom, China, the Middle East, and internationally.

MeGroup

Market Cap: S$7.2m

Through its subsidiaries, primarily engages in the automobile dealership business in Malaysia.