SGX Market Updates

Best-Performing Temasek-Linked Stocks in Past Decade


PUBLISHED ON |

05 May 2020

  • Temasek’s portfolio had a net value of S$313 billion as at its 31 March 2019 financial year-end. The portfolio comprises at least 25 listings on SGX, including 15 companies and 10 trusts with a combined market cap of more than S$200 billion.

  • The 5 constituents in Temasek’s portfolio with the highest 10Y annualised returns were: Mapletree Logistics Trust (+14.6%), Ascendas REIT (+10.8%), CapitaLand Commercial Trust (+8.7%), DBS Group Holdings (+6.4%) and Keppel REIT (+6.2%). They averaged a 10Y annualised total return of 9.3%

  • Mapletree Logistics Trust was also the best performer in the 2020 YTD with a 3.2% return. The trust was amongst the S-REITs that saw the highest net institutional inflows in the YTD.




Temasek’s portfolio had a net value of S$313 billion as at its 31 March 2019 financial year-end. The portfolio is well diversified with financial services, Telecommunications,Media & Technology accounting for majority at 25% and 20 % respectively. The portfolio, with 26% exposure to Singapore, consists of at least 25 listings on SGX, including 15 companies and 10 trusts with a combined market capitalisation of more than S$200 billion. Singtel, DBS and Mapletree Investments Pte Ltd accounted for the portfolio’s biggest names at 8%,6% and 5% respectively.

See also the previously published Market Update on the Highlights of Temasek’s SGX-listed investments for financial year ended 31 March 2019.


The 5 constituents in Temasek’s portfolio with the highest annualised returns over the last 10 years were 4 REITs and 1 stock: Mapletree Logistics Trust (+14.6%), Ascendas REIT (+10.8%), CapitaLand Commercial Trust (+8.7%), DBS Group Holdings (+6.4%) and Keppel REIT (+6.2%). The 5, which have a combined market cap of more than S$70 billion, averaged a 10Y annualised total return of 9.3%.


Temasek Linked Stocks Return



Mapletree Logistics Trust – which clocked the highest 10Y annualised total return – was also the best performer in the 2020 year-to-date with a 3.2% return. The trust was amongst the S-REITs that saw the highest net institutional inflows in the YTD.

S-REITs, which have a combined market value of S$90 billion, make up more than 10% of the market cap of Singapore listings. Growing investor participation in recent years has seen REITs contributing more than 20% to daily turnover in the YTD.


The table below details the 15 companies and 10 trusts in Temasek’s portfolio listed on SGX, sorted by 10Y annualised returns.

Name SGX
Code
Market Cap
S$bil
10-Year
Annualised
Total
Return
%
5-Year
Annualised
Total
Return
%
YTD
Total
Return
%
MAPLETREE LOGISTICS TRUST M44U 6.7 14.6 14.5 3.2
ASCENDAS REIT A17U 10.5 10.8 9.9 -1.1
CAPITALAND COMM TRUST C61U 6.0 8.7 4.4 -19.6
DBS GROUP HOLDINGS D05 49.0 6.4 2.2 -25.8
KEPPEL REIT K71U 3.6 6.2 2.4 -13.0
SATS LTD S58 3.4 5.8 2.9 -39.3
SINGAPORE EXCHANGE S68 10.4 5.8 6.9 11.0
ASCOTT RESIDENCE TRUST A68U 2.7 4.6 -0.2 -33.8
ST ENGINEERING S63 10.2 4.6 2.1 -16.5
CAPITALAND MALL TRUST C38U 6.7 4.5 1.4 -25.1
SINGTEL LTD Z74 45.5 4.4 -4.1 -16.9
STARHUB LTD CC3 2.5 1.2 -14.2 2.1
KEPPEL CORPORATION BN4 10.9 0.4 -4.3 -11.8
CAPITALAND LTD C31 15.2 0.1 -1.7 -20.8
SINGAPORE POST S08 1.6 -0.2 -15.0 -23.1
SIA ENGINEERING S59 2.1 -2.1 -11.6 -34.4
OLAM INTL O32 4.8 -3.0 -3.1 -18.2
SINGAPORE AIRLINES C6L 7.3 -5.4 -10.2 -32.6
SEMBCORP INDUSTRIES U96 2.8 -6.7 -16.8 -31.0
SEMBCORP MARINE S51 1.5 -13.9 -23.4 -43.9
MAPLETREE COMM TRUST N2IU 6.2 NA 10.0 -20.3
MAPLETREE INDUSTRIAL TRUST ME8U 5.5 NA 16.0 -1.5
MAPLETREE N ASIA COMM TRUST RW0U 3.0 NA 3.2 -21.5
NETLINK NBN TRUST CJLU 3.8 NA NA 3.7
HUTCHISON PORT HLDGS TRUST NS8U 1.6 NA -21.1 -22.5

Source: Bloomberg & SGX (data as of 29 Apr 2020)







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