SGX Market Updates

Frencken, iFAST & First Resources Among Most Consistent Gainers in 3Q21


PUBLISHED ON |

28 September 2021

  • With 3Q21 to conclude on Thursday, this is the STI’s narrowest quarterly trading range since 3Q17, with a 6% difference between the quarterly high and low as of 27 Sep. For the 3Q21 through to 27 Sep, the STI gained 0.2%, while the FTSE Asia Pacific Index declined 1.5%, weighed by pandemic-related economic disruptions in August.

  • Of Singapore’s 100 most traded stocks in 2021, the 10 strongest gainers in 3Q21 to 27 Sep all resided outside of the STI, with Frencken, iFAST, Raffles Medical, Starhill Global REIT, PropNex, First Resources, ESR-REIT, OUE Com REIT, UMS and ARA LOGOS Log Trust averaging 18% total returns.

  • Frencken, iFAST & First Resources were also among the most defensive of the stocks since the STI’s 2.4% decline from its 3Q21 high on 10 Aug. OUE Com REIT and Starhill Global REIT were also among the most defensives, and among the five largest of the 10 REITs & one Stapled Trust that joined the FTSE EPRA/NAREIT Index Series on the 17 Sep close.




For 3Q21, the STI has seen its narrowest trading range in 3Q21 since 3Q17, with a 5.6% difference between its quarterly high and low as of 27 Sep. The 3Q21 STI high of 3,207.99 was formed on 10 Aug, which coincided with global bank stocks forming highs not surpassed until this week. From 30 Jun to 10 Aug, the STI generated a total return of 2.7%, and proceeded to make a 2.4% decline from 10 Aug through to 27 Sep. For the 3Q through to 27 Sep, the STI gained 0.2%, while the FTSE Asia Pacific Index declined 1.5% and the FTSE All-World Index gained 2.3%. This coincided with a resurgence in new confirmed cases in3Q21 in Asia, with the 7-day rolling day average of new cases rising from near 140,000 cases at the end of June to near 270,000 cases in mid-August, and back to 170,000 cases on 25 Sep. As noted in the August Semi-Annual Recent Economic Development in Singapore brief, Asian economies are likely to remain at greater risk of pandemic-related economic disruption in the near term, given their slower pace of vaccination with high infection rates even in a few countries leave open the risk of the emergence of new virus variants.

Singapore’s 100 most traded stocks in 2021 that have been listed for the duration of 3Q21 averaged a 4% decline in the 3Q21 to 27 Sep, with a total of S$798 million of net institutional outflow. Over the period, 52 of the 100 stocks saw net institutional outflows, while 48 stocks booked net institutional inflows. For the 3Q21 through to 10 Aug, the 100 stocks averaged a 1% total return with S$896 million of net institutional outflow. Since the STI formed its 3Q21 high on 10 Aug, the 100 stocks have averaged a 5% decline on S$99 million of net institutional inflow. Singapore Telecommunications led the net institutional inflows from 10 August through to 27 Sep, with S$321 million of net buying, and an 8% total return.

Of the 100 most traded stocks, the 10 stocks that generated the strongest total returns in 3Q21 through to 27 Sep are tabled below.

10 Strongest Stocks from 10Aug to 27Sep, within the 100 Most Traded stocks in 2021 SGX
Code
Mkt Cap
S$M
Total Return
1Jul-10Aug
Net Insti Flow
1Jul-10Aug
S$M
Total Return
10Aug-27Sep
Net Insti Flow
11Aug-27Sep
S$M
Beta to STI
1Jul-27Sep
Net Insti Flow
1Jul-27Sep
S$M
Total Return
1Jul-27Sep
Frencken E28 1,038 17% 14 11% 2 0.8 16 30%
IFAST AIY 2,697 3% -22 17% 39 0.6 17 20%
Raffles Medical BSL 2,617 24% 34 -4% 13 0.8 46 19%
Starhill Global REIT P40U 1,425 14% 4 4% 27 1.0 31 18%
PropNex OYY 640 28% -2 -9% -2 1.1 -3 17%
First Resources EB5 2,430 3% 4 13% 8 0.1 12 16%
ESR-REIT J91U 1,883 10% 10 6% 42 0.8 53 16%
OUE Commercial REIT TS0U 2,474 8% 8 7% 25 0.6 33 16%
UMS 558 923 15% 22 0% -14 0.8 8 15%
ARA LOGOS Logistics Trust K2LU 1,370 7% 13 7% 45 0.6 58 14%

Source: SGX, Refinitiv, Bloomberg (Data as of 27 September 2021)



For the earlier part of 3Q21, through to the STI high on 10 August, five of the above stocks were also among the strongest gainers of the 100 stocks. Together, Frencken Group, Raffles Medical Group, Starhill Global REIT, PropNex and UMS Holdings were among the 10 strongest stocks of the 100 for the six weeks as tabled below.

10 Strongest Stocks in the 3Q21 to 10Aug, within the 100 Most Traded stocks in 2021 SGX
Code
Mkt Cap
S$M
Total Return
1Jul-10Aug
Net Insti Flow
1Jul-10Aug
S$M
Total Return
10Aug-27Sep
Net Insti Flow
11Aug-27Sep
S$M
Beta to STI
1Jul-27Sep
Net Insti Flow
1Jul-27Sep
S$M
Total Return
1Jul-27Sep
PropNex OYY 640 28% -2 -9% -2 1.1 -3 17%
Rex International 5WH 260 26% 10 -13% -3 1.4 7 10%
Raffles Medical BSL 2,617 24% 34 -4% 13 0.8 46 19%
Frencken E28 1,038 17% 14 11% 2 0.8 16 30%
UMS 558 923 15% 22 0% -14 0.8 8 15%
Starhill Global REIT P40U 1,425 14% 4 4% 27 1.0 31 18%
ISDN I07 283 14% 12 -21% -14 2.0 -2 -11%
Jiutian Chemical C8R 157 13% 2 -17% 0 1.5 1 -6%
Nanofilm Technologies MZH 2,833 11% -1 -30% -61 0.9 -62 -22%
SPH T39 3,103 11% 34 3% 45 0.1 79 14%

Source: SGX, Refinitiv, Bloomberg (Data as of 27 September 2021)



Frencken Group was also among the 10 strongest of the 100 stocks for the latter part of 3Q21, from 10 Aug through to 27 Sep. Of the 10 stocks that generated the strongest total returns in 3Q21 through to 27 Sep, iFAST Corporation, First Resources, OUE Commercial REIT and ARA LOGOS Logistics Trust were also among the most defensive Singapore stocks as the broader market declined from 10 Aug through to 27 Sep.

10 Strongest Stocks from 10Aug to 27Sep, within the 100 Most Traded stocks in 2021 SGX
Code
Mkt Cap
S$M
Total Return
1Jul-10Aug
Net Insti Flow
1Jul-10Aug
S$M
Total Return
10Aug-27Sep
Net Insti Flow
11Aug-27Sep
S$M
Beta to STI
1Jul-27Sep
Net Insti Flow
1Jul-27Sep
S$M
Total Return
1Jul-27Sep
Olam International O32 6,348 -12% -15 25% 21 0.1 6 10%
IFAST AIY 2,697 3% -22 17% 39 0.6 17 20%
First Resources EB5 2,430 3% 4 13% 8 0.1 12 16%
Frencken E28 1,038 17% 14 11% 2 0.8 16 30%
Hongkong Land H78 15,088 -7% -34 10% 22 0.4 -12 2%
SingTel Z74 41,444 3% -104 8% 321 0.9 216 11%
ARA LOGOS Logistics Trust K2LU 1,370 7% 13 7% 45 0.6 58 14%
OUE Commercial REIT TS0U 2,474 8% 8 7% 25 0.6 33 16%
Cromwell REIT EUR CWBU 2,348 1% 4 7% 26 0.4 30 8%
Far East Hospitality Trust Q5T 1,233 3% -3 7% 19 0.5 16 10%

Source: SGX, Refinitiv, Bloomberg (Data as of 27 September 2021)



All of the above 10 stocks were recipient to net institutional inflows from 10 Aug through to 27 Sep.

Frencken Group, iFAST Corporation and First Resource were the strongest gainers of the 100 stocks in 3Q21 to 27 Sep that also booked gains from 10 August through to 27 Sep.

For the 2H21, these companies made the following observations in July/August:

  • In August, Frencken Group noted its anticipated performances of the Group’s key business segments in 2HFY21 compared to 1HFY21 with the automotive segment is expected to post stable revenue, the Semiconductor segment is expected to maintain its momentum, the medical segment is anticipated to register revenue growth, the analytical segment is expected to register revenue growth and the industrial automation segment’s revenue is anticipated to soften. The Group is also working to move up the value chain and expand its market share with both existing and prospective customers.
  • On 31 July, iFAST Corporation finalised its prime subcontractor contract for its Hong Kong pension project and aims to provide some guidance on the potential growth of its overall Hong Kong business for 2023/2024 and beyond, by the end of the year.
  • The CEO of First Resources highlighted on 13 Aug, that looking ahead, palm’s attractive relative pricing against competing edible oils is expected to lend support to prices whilst the lower export levy in Indonesia will help to reduce the export tax burden for exporters in the second half of the year.

OUE Commercial REIT and Starhill Global REIT were also among the most defensive stocks between 10 Aug and 27 Sep, and among the five largest of the 10 REITs & one Stapled Trust that joined the FTSE EPRA/NAREIT Index Series on the 17 Sep close (click here for more).

The 3Q21 to 27 Sep performances and flows of the 100 most traded stocks in 2021 are tabled below, and sort by the most traded stock. Note the table does not include Jardine Strategic Holdings and CapitaLand which have been delisted, or CapitaLand Investments which debuted on 20 Sep.

Stocks SGX
Code
Mkt Cap
S$M
Total Return
1Jul-10Aug
Net Insti Flow
1Jul-10Aug
S$M
Total Return
10Aug-27Sep
Net Insti Flow
11Aug-27Sep
S$M
Beta to STI
1Jul-27Sep
Net Insti Flow
1Jul-27Sep
S$M
Total Return
1Jul-27Sep
DBS D05 77,049 6% -76 -4% -59 1.3 -134 2%
Singtel Z74 41,444 3% -104 8% 321 0.9 216 11%
UOB U11 43,186 4% -126 -2% 52 1.0 -74 2%
OCBC Bank O39 52,296 4% -115 -5% -183 1.3 -298 -1%
Yangzijiang Shipbuilding BS6 5,528 7% 18 -7% 0 0.6 19 -1%
SIA C6L 15,016 6% -68 -1% -34 1.3 -101 4%
CapitaLand Integrated Commercial Trust C38U 13,540 6% 1 -4% 21 1.0 21 2%
Ascendas REIT A17U 12,963 7% 45 -2% 65 0.8 110 5%
Wilmar International F34 25,925 0% -94 -8% -46 1.2 -140 -8%
SGX S68 10,816 -1% -53 -9% -112 0.8 -166 -10%
Jardine Matheson J36 49,519 -9% -34 -11% -28 0.8 -62 -20%
Genting Singapore G13 8,988 -4% -72 -7% -40 0.6 -113 -11%
Mapletree Logistics Trust M44U 8,937 5% -4 -3% 17 1.2 13 3%
Mapletree Industrial Trust ME8U 7,633 5% 36 -3% -13 0.7 23 2%
Venture Corp V03 5,288 2% 6 -6% -14 0.8 -8 -4%
Thai Beverage Y92 16,453 -1% -18 -2% -7 0.5 -25 -3%
SPH T39 3,103 11% 34 3% 45 0.1 79 14%
ComfortDelGro C52 3,294 -1% -39 -5% -31 0.6 -69 -6%
Keppel Corp BN4 9,626 2% -65 -3% 7 1.1 -58 -1%
Suntec REIT T82U 4,073 1% 5 -2% -18 0.4 -12 -1%
City Developments C09 6,403 -8% -125 6% 9 0.9 -116 -3%
Sembcorp Marine S51 2,543 -4% 5 -19% 9 0.1 14 -22%
Mapletree Commercial Trust N2IU 7,108 -1% -29 0% 33 1.1 4 -1%
Keppel DC REIT AJBU 4,321 6% -1 -3% -7 0.7 -8 4%
ST Engineering S63 12,061 5% 6 -4% -19 1.0 -13 1%
AEM AWX 1,290 8% 57 2% 33 0.4 90 10%
Hongkong Land H78 15,088 -7% -34 10% 22 0.4 -12 2%
Frasers Logistics & Commercial Trust BUOU 5,588 6% 24 -1% 22 0.5 47 6%
Keppel REIT K71U 3,870 -2% -15 -8% -36 0.4 -52 -9%
IFAST AIY 2,697 3% -22 17% 39 0.6 17 20%
UMS 558 923 15% 22 0% -14 0.8 8 15%
Jardine C&C C07 7,557 -6% -18 -4% -18 0.4 -36 -9%
Nanofilm Technologies MZH 2,833 11% -1 -30% -61 0.9 -62 -22%
SATS S58 4,668 2% -5 3% 21 0.8 16 6%
Sembcorp Industries U96 3,380 -6% -5 -5% -10 0.7 -15 -11%
Frasers Centrepoint Trust J69U 3,891 -1% -5 -5% -34 0.8 -39 -6%
NetLink NBN Trust CJLU 3,819 3% 5 1% -1 0.3 4 3%
UOL U14 5,935 1% -5 -4% -9 1.0 -13 -4%
Jiutian Chemical C8R 157 13% 2 -17% 0 1.5 1 -6%
Top Glove BVA 6,926 -11% -2 -29% -7 0.4 -10 -36%
Mapletree North Asia Commercial Trust RW0U 3,402 -3% -18 -3% -21 0.5 -39 -6%
Sheng Siong OV8 2,225 -2% -21 -3% -12 -0.1 -33 -4%
Medtecs International 546 219 -2% -1 -52% 0 2.2 -1 -53%
ISDN I07 283 14% 12 -21% -14 2.0 -2 -11%
CapLand China Trust AU8U 1,944 2% -14 -6% -23 0.4 -37 -4%
Frencken E28 1,038 17% 14 11% 2 0.8 16 30%
Oceanus^ 579 826 -3% 1 -8% -2 0.4 -1 -11%
Ascott Residence Trust HMN 3,093 4% -1 -7% -14 0.4 -15 -3%
Dairy Farm International D01 6,308 -15% -17 -3% -8 0.4 -25 -18%
Riverstone AP4 1,341 3% -6 -26% -10 0.4 -16 -24%
ESR-REIT J91U 1,883 10% 10 6% 42 0.8 53 16%
Golden Agri-Resources E5H 2,919 4% 6 -4% 8 1.3 14 0%
Olam International O32 6,348 -12% -15 25% 21 0.1 6 10%
Rex International 5WH 260 26% 10 -13% -3 1.4 7 10%
Aztech Global 8AZ 813 -7% -11 -12% -9 1.2 -20 -18%
Thomson Medical A50 2,115 1% 1 -8% -2 0.2 -1 -7%
ARA LOGOS Logistics Trust K2LU 1,370 7% 13 7% 45 0.6 58 14%
Keppel Infra Trust A7RU 2,745 1% -25 2% 0 0.1 -25 2%
SingPost S08 1,440 -8% -24 -2% -3 0.5 -27 -10%
Ascendas India Trust CY6U 1,649 5% -1 1% 0 0.8 -1 6%
Lendlease REIT JYEU 1,033 9% 8 0% 19 0.8 27 10%
Japfa UD2 1,402 -9% -9 -9% -4 0.2 -13 -17%
ParkwayLife REIT C2PU 2,856 6% -1 -2% -2 0.3 -3 4%
UG Healthcare 8K7 213 2% 0 -41% -3 1.1 -3 -40%
Hutchison Port Holdings Trust NS8U 2,656 7% -3 -3% 1 0.8 -2 4%
Yanlord Land Z25 2,125 -8% -8 -2% 5 0.6 -3 -10%
Sunpower 5GD 484 -14% 0 -7% 3 0.0 3 -20%
Q&M Dental QC7 534 8% 6 -20% -11 0.5 -5 -14%
Manulife US REIT BTOU 1,529 0% 0 -7% -5 0.7 -5 -7%
Raffles Medical BSL 2,617 24% 34 -4% 13 0.8 46 19%
Haw Par H02 2,623 -1% 0 -12% -6 0.5 -6 -13%
The Place E27 517 -11% 1 -25% 0 0.6 1 -33%
StarHub CC3 2,130 4% 0 -1% 4 0.3 4 3%
First Resources EB5 2,430 3% 4 13% 8 0.1 12 16%
SPHREIT SK6U 2,618 3% 2 6% 23 0.4 25 10%
AIMS APAC REIT O5RU 1,012 7% 6 -8% 8 0.6 14 -1%
CDL Hospitality Trusts J85 1,339 -4% -2 -7% -5 0.9 -7 -10%
Cromwell European REIT CWBU 2,348 1% 4 7% 26 0.4 30 8%
Starhill Global REIT P40U 1,425 14% 4 4% 27 1.0 31 18%
Keppel Pacific Oak US REIT CMOU 1,104 3% 1 3% 17 0.1 18 6%
Sarine Tech U77 239 5% -1 -13% 4 1.1 3 -9%
COSCO Shipping F83 616 -2% 0 -5% 1 1.1 1 -7%
Sasseur REIT CRPU 1,057 1% 0 -7% -4 0.2 -4 -6%
Tuan Sing T24 589 8% 5 -9% 2 1.5 7 -2%
CFM 5EB 37 -20% 1 -26% -2 1.7 -1 -40%
Prime US REIT OXMU 1,375 2% -4 3% 17 0.2 13 5%
SIA Engineering S59 2,369 -2% -4 0% 1 0.6 -3 -2%
OUE Commmercial REIT TS0U 2,474 8% 8 7% 25 0.6 33 16%
GKE 595 99 6% 1 -9% 1 0.6 2 -4%
Yoma Strategic Z59 284 1% 2 -6% 3 0.6 5 -5%
Yinda Infocomm 42F 254 -22% 1 4% 0 -0.2 2 -18%
Avarga U09 250 -2% 0 -7% 0 0.3 1 -9%
Leader Environmental LS9 118 -25% 3 -5% 0 -0.9 3 -29%
MM2 Asia 1B0 116 -6% 5 -22% 1 0.8 6 -26%
Far East Hospitality Trust Q5T 1,233 3% -3 7% 19 0.5 16 10%
RH Petro Gas T13 100 4% 0 -22% 0 2.3 0 -18%
Hong Fok H30 659 -3% 0 -3% 1 0.6 1 -6%
PropNex OYY 640 28% -2 -9% -2 1.1 -3 17%
Aspen 1F3 152 -9% 0 1% 0 1.1 0 -8%
InnoTek M14 186 -2% 0 -13% 0 1.1 0 -15%
Total 603,796 -896 99 -798
Average 1% -5% -4%
Median 2% -4% -3%

Source: SGX, Refinitiv, Bloomberg (Data as of 27 September 2021)
^ Note currently on SGX Watchlist







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