Watchlist Worthy: Singapore Stocks Flying Under the STI Radar

06 Aug 2025

By Danish Lim, Senior Investment Analyst for Phillip Nova

 

🇸🇬 The Straits Times Index (STI) is widely regarded as Singapore’s benchmark index, comprising 30 of the largest and most liquid stocks on the SGX. While many investors are familiar with these blue-chip names, are there hidden gems outside the STI worth watching? In this Market Trends article, we spotlight 6 promising Singapore stocks not currently in the STI that deserve a spot on your watchlist.

 

Comfort DelGro

  • YTD +4.73% / BBG 12M Tgt Px: S$1.73 / Last Price: S$1.55 / Rtn Potential: +11.6%

Comfort operates across 13 countries and controls SBS Transit, which runs ~31% of SG’s rail system (NEL, DTL, LRT, the other lines are run by SMRT), 54.3% of the public bus market, and 64% of the taxi market. 


The UK & Ireland (29% of FY24 revenue) is its largest market outside of SG (51%). Metroline, its UK subsidiary, operates ~17% of London’s bus routes. 
Under SG’s Bus Contracting Model (BCM), LTA owns all the assets (buses, etc) and contracts private operators like Comfort to operate public bus services through a tendering process.


Comfort recently successfully extended all 6 negotiated bus contracts under the BCM, helping the company secure long-term revenue streams and reduced operational risk.

 

Far East Hospitality Trust

  • -4.92% YTD / Last Price: S$ 0.58

 

FEHT owns hotels and serviced residences in Singapore, including Oasia, Rendezvous, and Village Bugis. In February, FEHT made its maiden expansion into Japan with the acquisition of Four Points by Sheraton Nagoya to diversify its portfolio.

 

 

Food Empire

  • YTD +145.45% / Last Price: $2.43 / BBG 12M Tgt Px: $2.42 / Rtn Potential: -0.4%

 

A coffee and tea manufacturing company based in Singapore. Brands include instant beverages like flagship MacCoffee, Café Phố, and Klassno; as well as snacks like Kracks. ~30% of FY24 Revenue comes from Russia, while 26% comes from Ukraine, Kazakhstan & CIS markets. SEA is the 2nd largest market at 27% of revenue. Vietnam was Food Empire’s fastest growing market in FY24.

 

The company recently partnered with Malaysia’s Capital A to co-develop and launch a new range of ready-to-drink beverages, commencing with a Vietnamese iced coffee product set to be sold on AirAsia flights and at selected retail outlets in Asia.

 

PropNex

  • +54.50% YTD / Last Price: $1.46 / BBG 12M Tgt Px: N.A / Rtn Potential: N.A 

 

Propnex operates as a real estate agency. It serves customers in 6 property segments – HDB Resale, Landed Resale, Commercial & Industrial, Project Marketing, Rental, and Private resale. PropNex differentiates itself by having the largest local sales force in Singapore and a 64.2% market share — implying that nearly 2 out of 3 home transactions in Singapore are closed by a PropNex salesperson.

 

Property demand will be supported by lower interest rates. This comes as sales of million-dollar resale flats in Singapore hit a new record.  At the same time, HDB Resale prices are expected to grow by 5%-7% in 2025.

 

PropNex will also issue a Special dividend of 2.50 cents/share to commemorate its 25th anniversary in 2025. It had a Total dividend of 7.75 cents/share for FY2024 – the highest since listing.

 

MoneyMax Financial Services

  • +93.65% YTD / Last Price: $0.61 / BBG 12M Tgt Px: $N.A / Rtn Potential: N.A

 

MoneyMax provides financial services through pawnbroking, jewelry retailing, and trading of pre-owned jewelry & watches. The company also provides auto leasing, property financing and insurance services. It has outlets in both Singapore and Malaysia. The stock is viewed as a proxy to gold prices.

 

FY24 Revenue and Profit grew by 36.5% YoY and 65.4% respectively, as higher gold prices lifted the core jewelry and pawnbroking business.

 

Banyan Tree Holdings  

  • YTD +100.00% / Last Price: $0.69/ BBG 12M Tgt Px: $N.A / Rtn Potential: N.A

 

Banyan Tree is a Singaporean multinational hospitality brand. The group comprises 12 global brands, including the flagship Banyan Tree, Angsana, and Cassia. There were 17 new openings in FY24, notably in Japan, South Korea, and China, featuring Banyan Tree’s debut in Japan with Banyan Tree Higashiyama Kyoto. 10 more properties will open in 2025, including Mandai Rainforest Resort by Banyan Tree. Management expects 31 new hotels to be opened in the next 3 years.

 

As of Jan 15, 2025, forward bookings for owned hotels saw an 8% YoY increase, driven by Thailand, Japan, Vietnam, and Maldives. 

 

Add these bubbling Singapore market opportunities into your watchlist now!


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An Exchange Traded Fund (ETF) is a marketable security that is formed to track nearly anything, ranging from a specific index, sector, commodity, or increasingly, theme. They are most commonly used to track a basket of stocks, and can typically be accessed through the same channels as regular stocks. ETFs are typically separated into passively-managed ETFs that simply mirror the security they are tracking (e.g. the STI), and actively managed ones that attempt to deliver higher returns or specific investment objectives, often with a pre-specified theme in mind (e.g. ARK Invest’s Innovation ETF).

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A look at two ETF CFDs we offer:

1) Has the ARKK been sunk?

ARK Innovation ETF (ARKK) ARKK is an actively managed ETF by ARK Invest that invests in a range of companies based on their innovative and industry-disrupting potential. ARKK’s largest holdings are in companies such as Tesla, Square, and Zoom. ARKK is down around -33% from peaking on 12th Feb and is currently in the red for the year to date as the market experiences a risk-off outflow of funds. Superstar fund manager Cathie Wood has however been consistently doubling down on her bets, buying even more shares in growth stocks that are going through their own tumultuous periods such as DraftKings, Peloton, Teladoc, and Tesla. In her view, ARKK is playing the long game, and remains steadfastly convinced in the long-term prospects of these growth stocks beyond this current bout of volatility. Similarly on outflows, investors are still betting big on ARKK as ARK Invest has only lost about $1.2B in assets this year across all its six funds, compared to seeing an inflow of $15.1B during the same period. Recently, investors have been nervously eyeing ARKK’s basket of tech stocks as their future earnings potential remain vulnerable to erosion through high inflation – the dominant concern of the market in recent weeks. As commodities – the major contributor to the recent heightened inflation fears – drops sharply from record highs, are investor concerns over hyperinflation overblown?

2) Searching for exposure to Asian equities?

iShares MSCI Asia ex Japan ETF (AAXJ) The AAXJ is currently trading -10.6% adrift of all-time highs seen in February, giving up gains in tandem with an Asia-wide equity sell-off at the time. Given that slightly over 40% of the ETF’s holdings are based in China, the ongoing tumult seen in Chinese equities currently have carried over nearly perfectly in the AAXJ, as Chinese investors take a breather after the stellar gains made over the past year. Looking ahead, Asia – and particularly China, is steaming ahead with its economic recovery. China is widely expected to be one of the best-performing major economies this year, providing a major boost to the outlook for corporate earnings. As the rest of Asia and the world gradually opens up their own economies, AAXJ is likely to again benefit from strong Asian outperformance amidst a strengthening trade outlook.

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