Singaporean Potentially Undervalued Companies

AF Global

Market Cap: S$66.5m

An investment holding company, invests, owns, and operates hotels and serviced residences in Singapore, Thailand, Vietnam, and the Lao People’s Democratic Republic.

IHH Healthcare Berhad

Market Cap: S$61.0b

An investment holding company, offers healthcare services in Malaysia, Singapore, Turkey, India, China, Japan, Europe, and internationally.

Oversea-Chinese Banking

Market Cap: S$72.7b

Provides financial services in Singapore, Malaysia, Indonesia, Greater China, rest of the Asia Pacific, and internationally.

Stoneweg European Real Estate Investment Trust

Market Cap: €841.3m

Stoneweg European Real Estate Investment Trust has a principal mandate to invest, directly or indirectly, in income-producing commercial real estate assets across Europe with a minimum portfolio weighting of at least 75% to Western Europe and at least 75% to the light industrial / logistics and office sectors.

Seatrium

Market Cap: S$6.5b

Provides engineering solutions to the offshore, marine, and energy industries.

UOB-Kay Hian Holdings

Market Cap: S$1.7b

An investment holding company, provides stockbroking, futures broking, structured lending, investment trading, margin financing, and nominee and research services.

Delfi

Market Cap: S$440.0m

An investment holding company, manufactures, markets, distributes, and sells chocolate, chocolate confectionery, and consumer products in Indonesia, Philippines, Malaysia, Singapore, and internationally.

Aztech Global

Market Cap: S$409.1m

Engages in the research, development, design, engineering, manufacture, and sale of IoT devices, data-communication products, and LED lighting products in Singapore, North America, China, Europe, Oceania, rest of ASEAN countries, and internationally.

BRC Asia

Market Cap: S$869.7m

Engages in the prefabrication of steel reinforcement for use in concrete in Singapore, Australia, Brunei, Hong Kong, Indonesia, Malaysia, Thailand, India, and internationally.

Fraser and Neave

Market Cap: S$1.8b

Engages in the food and beverage, and publishing and printing businesses in Singapore, Malaysia, Thailand, Vietnam, and internationally.

Amplefield

Market Cap: S$13.5m

An investment holding company, engages in the property development, construction, and facility provision activities in Malaysia and the Philippines.

InnoTek

Market Cap: S$91.1m

An investment holding company, operates as a precision metal components manufacturer in Singapore, Hong Kong, the People’s Republic of China, Vietnam, Singapore, and Thailand.

Ho Bee Land

Market Cap: S$1.2b

A real estate company founded in 1987.

First Ship Lease Trust

Market Cap: S$72.5m

A business trust, owns a fleet of product tankers in Asia, Europe, and North America.

Asiatic Group (Holdings)

Market Cap: S$9.7m

An investment holding company, provides energy and fire protection services in Singapore, Cambodia, and internationally.

Thakral

Market Cap: S$101.6m

An investment holding company, markets and distributes beauty, fragrance, and lifestyle products in Australia, India, Japan, the People’s Republic of China, and Singapore.

Stoneweg European Real Estate Investment Trust

Market Cap: S$841.3m

Stoneweg European Real Estate Investment Trust has a principal mandate to invest, directly or indirectly, in income-producing commercial real estate assets across Europe with a minimum portfolio weighting of at least 75% to Western Europe and at least 75% to the light industrial / logistics and office sectors.

Fortress Minerals

Market Cap: S$104.1m

An investment holding company, engages in the exploration, mining, production, and sale of iron ore concentrates.

City Developments

Market Cap: S$4.4b

City Developments Limited (CDL) is a leading global real estate company with a network spanning 112 locations in 29 countries and regions.

Aspial Lifestyle

Market Cap: S$220.9m

An investment holding company, retails and trades in jewelry and branded merchandise in Singapore and internationally.

Tianjin Pharmaceutical Da Ren Tang Group

Market Cap: US$20.0b

Produces and sells traditional Chinese medicine, western medicine, and other products primarily in the People’s Republic of China.

Meituan

Market Cap: S$781.0b

Operates as a technology retail company in the People’s Republic of China.

GuocoLand

Market Cap: S$1.6b

An investment holding company, engages in the property investment and development business.

Keppel

Market Cap: S$11.9b

An investment holding company, engages in the infrastructure, real estate, and connectivity businesses in Singapore, China, Hong Kong, other Far East and ASEAN countries, and internationally.

Genting Singapore

Market Cap: S$8.9b

An investment holding company, primarily engages in the development, management, and operation of integrated resort destinations in Asia.

SUTL Enterprise

Market Cap: S$62.1m

An investment holding company, develops and operates integrated marinas in Singapore and Malaysia.

IREIT Global

Market Cap: S$316.0m

IREIT Global (SGX-UD1U) which was listed on 13 August 2014, is the first Singapore-listed real estate investment trust with the investment strategy of principally investing, directly or indirectly, in a portfolio of income-producing real estate in Europe which is used primarily for office, retail and industrial (including logistics) purposes, as well as real estate-related assets.

Food Empire Holdings

Market Cap: S$795.7m

An investment holding company, operates as a food and beverage manufacturing and distribution company in Russia, Ukraine, Kazakhstan and CIS markets, South-East Asia, South Asia, and internationally.

Combine Will International Holdings

Market Cap: S$31.0m

An investment holding company, operates as an original design manufacturer, original equipment manufacturer, and supplier of corporate premiums, toys, and consumer products.

Natural Cool Holdings

Market Cap: S$9.5m

An investment holding company, provides installation, maintenance, repair, and replacement services for air-conditioning systems in Singapore.

Sheng Siong Group

Market Cap: S$2.6b

An investment holding company, operates a chain of supermarket retail stores in Singapore.

Amcorp Global

Market Cap: S$51.5m

An investment holding company, operates as a real estate developer and investor in Singapore, Malaysia, and Vietnam.

Lendlease Global Commercial REIT

Market Cap: S$1.3b

Listed on 2 October 2019, Lendlease Global Commercial REIT (“LREIT”) is established with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of stabilised income-producing real estate assets located globally.

Lion Asiapac

Market Cap: S$17.8m

An investment holding company, engages in lime manufacturing, and steel trading activities in Malaysia, Singapore, China, and internationally.

Starhill Global Real Estate Investment Trust

Market Cap: S$1.1b

Starhill Global REIT is a Singapore-based real estate investment trust investing primarily in real estate used for retail and office purposes, both in Singapore and overseas.

Singapore Technologies Engineering

Market Cap: S$23.1b

Operates as a technology, defence, and engineering company worldwide.