• The STI (with 30 constituents) generated a 4.8% total return in the first eight months of 2019, while Singapore’s 30 most actively-traded stocks by turnover for the eight months, more than doubled the benchmark gain, with average total returns of 11.5%.

• The 30 most actively traded stocks included six non-STI stocks – Mapletree Logistics Trust, Suntec REIT, Mapletree Commercial Trust, Mapletree North Asia Commercial Trust, AEM Holdings and Mapletree Industrial Trust. The six averaged a 27.8% total return over the eight months.

• While AEM Holdings is a top 200 stock by mkt cap, it ranked as a top 30 stock by turnover over the past eight months.  Similar turnover rankings that came in significantly ahead of mkt cap rankings, were observed with Hi-P International, UMS, Rex International, First REIT & Valuetronics.

The Straits Times Index (“STI”) represents 30 of the largest capitalised and most actively traded stocks in Singapore. The STI Index generated a 4.8% total return in the first eight months of 2019,  which, in annualised terms, was approximately one-fifth lower than the average annualised total returns of 9.2% for the preceding 10 years. 

By comparison, Singapore’s 30 most actively traded stocks by turnover for the first 8 months, more than doubled the total return of the STI, with these most active 30 stocks averaging an 11.5% total return.

The 30 stocks included six non-STI constituents - Mapletree Logistics Trust, Suntec REIT, Mapletree Commercial Trust, Mapletree North Asia Commercial Trust, AEM Holdings and Mapletree Industrial Trust. All six of these stocks outperformed the STI, averaging a 27.8% total return.  The 30 most active stocks by turnover for the first eight months of 2019 are included in the table below.

Source: SGX StockFacts, Bloomberg (Data as of 31 August 2019)

The most recent earnings results of the six non-STI constituents included in the table above, were as follows:

• Mapletree Logistics Trust (click here) reported DPU for 1QFY19/20 (ended 30 June) grew 3.5% YoY, after DPU was up 4.2% in the preceding FY18/19. The improvement in results was attributed to a stable performance from existing properties as well as contributions from the completed redevelopment of Mapletree Ouluo Logistics Park Phase 1 and accretive acquisitions completed in FY18/19.
   

• Suntec REIT (click here) reported its DPU for its 1HFY19 (ended 30 June) was 2.3% lower YoY mainly due to the enlarged unit base. CEO of the Manager, Chong Kee Hiong, noted Suntec recorded a higher distributable income from operations for its 2QFY19 – “the improved results were mainly driven by the continued strong performance of Suntec City, higher contribution from MBFC Properties, better performance and additional 25% interest in Southgate Complex. This was partially offset by higher financing costs.”
   

• Mapletree Commercial Trust (click here) reported DPU for 1QFY19/20 (ended 30 June) grew 3.6% YoY, after DPU was up 1.1% in the preceding FY18/19. VivoCity’s newest anchor tenant, NTUC FairPrice, successfully soft-launched its 91,000 square feet integrated store on 16 July 2019.
   

• Mapletree North Asia Commercial Trust (click here) reported DPU for its 1QFY19/20 (ended 30 June) increased 3.7% YoY, after DPU for its FY18/19 was up 2.8% YoY. The growth was attributed to higher rental income from Festival Walk, Gateway Plaza and Sandhill Plaza, and the higher average rate of HKD, partially offset by the lower average rate of RMB. The full quarter contribution from the Japan Properties following the completion of acquisition on 25 May 2018 also added to its income stream for 1QFY19/20.
   

• AEM Holdings (click here) aims to be among the world's leading companies providing solutions in equipment systems; precision components and related manufacturing services across various industries. It has four manufacturing plants located in Singapore, Malaysia (Penang), China (Suzhou) and Finland (Lieto).  AEM Holdings reported net profit of S$15.7 million in 2QFY19 (ended 30 June), which was up 65.4% YoY with the net profit margin increasing from 13.1% in 2QFY18 to 16.0% in 2QFY19. For 1HFY19, its  net profit increased 25.9% YoY. On 25 July, the Group announced sales orders worth S$255 million for delivery in FY19, and revised its revenue guidance for FY19 to be between S$265 million to S$280 million. By comparison its FY18 revenue was S$262 million, with FY17 revenue at S$222 million.
   

• Mapletree Industrial Trust (click here) reported DPU for its 1QFY19/20 (ended 30 June) increased 3.3% YoY following DPU growth of 3.5% YoY in FY18/19. Growth for 1QFY19/20 was largely attributed to new revenue contributions from 18 Tai Seng, 30A Kallang Place and Mapletree Sunview 1.

Mapletree Industrial Trust is one of seven REITs or stapled trusts that invest in properties within in the United States.  The others, in order of their listing debuts, are Ascott Residence Trust, ManuLife US REIT, Eagle Hospitality Trust, ARA US Hospitality Trust, Keppel-KBS US REIT and Prime US REIT.  

The above six stocks averaged daily turnover of S$84 million a day. Note the next 10 most actively traded stocks outside the 30 tabled above, included four STI stocks and six non-STI stocks. Together these 10 stocks almost doubled the total return of the STI over the first eight months of 2019. These 10 stocks are tabled below.

Source: SGX StockFacts, Bloomberg (Data as of 31 August 2019)

Outside of the 40 most active stocks by turnover for the eight months, other activity highlights saw UMS Holdings, Rex International Holding, First REIT and Valuetronics rank within the top 60 stocks by turnover. UMS Holdings is a top 200 stock by market capitalisation, Rex International Holding is a top 300 stock by market capitalisation, First REIT is a top 150 stock by market capitalisation and Valuetronics is a top 200 stock by market capitalisation.