SGX to launch index that tracks listcos beyond STI: What Investors Need to Know
- ellaintan
- Sep 18
- 1 min read
It was announced last Friday that SGX plans to launch a new index that will track large, liquid Singapore listcos outside the STI 30. The move is designed to highlight the “next tier” of companies and broaden visibility beyond the blue chips, as part of MAS’s wider S$5bn equity market development programme. SGX has said more details will be shared on Sept 22, 2025, though the full list of constituents and official launch date are still pending.
UOB Kay Hian (UOBKH) followed up today with a strategy report that attempted to anticipate which companies might make it into the new benchmark. Using STI-style criteria (market cap above S$1b, free float above 15%, and trading liquidity thresholds), UOBKH came up with a screen of 39 potential candidates.
Who’s likely in (based on UOBKH screen):
The names span both household and mid-cap favourites, including ComfortDelGro, Sheng Siong, NetLink NBN Trust, SIA Engineering, Parkway Life REIT, iFAST, Bumitama Agri, PropNex, Raffles Medical, StarHub.
UOBKH’s six highlighted picks:
Food Empire (pricing power and growth in coffee mix)
Sheng Siong (defensive earnings and dividends)
CSE Global (data centre and infra exposure)
China Sunsine (rubber chemicals demand recovery)
Marco Polo Marine (offshore wind contracts)
Valuetronics (net cash and EV charging orders)
Bottom line:
The new index marks an important step to broaden investor focus in Singapore’s equity market. SGX will provide clarity on Sept 22, but in the meantime, UOBKH’s screen offers a preview of the type of mid-cap names that could gain from greater visibility. Investors positioning early in liquid, well-governed companies with catalysts may be the first to benefit once flows start chasing the index.
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