In the first half of 2025, Food Empire, Yangzijiang Financial, Centurion Corporation, BRC Asia, and Wee Hur Holdings emerged as the top performers in the FTSE ST Small Cap Index. This index, comprising 42 constituents, achieved a 4.9% total return, outpacing the FTSE Asia Pacific Small Cap Index’s 2.7% return. The index also recorded a net institutional inflow of S$31 million, with significant contributions from Yangzijiang Financial Holding, Centurion Corporation, and Wee Hur Holdings.
Food Empire Holdings made headlines by debuting on the 2025 Fortune Southeast Asia 500 list, thanks to a 12% revenue growth in FY24, reaching $476 million (US$476 million). The company remains optimistic about sustaining growth, driven by brand investments and expansion in high-growth Asian markets. Its stock maintains an 18% return on equity (ROE), with its price-to-earnings ratio doubling to 14x in 2025.
Yangzijiang Financial Holding saw a surge in trading volumes, with its average daily turnover (ADT) rising to S$15.9 million from S$2.4 million in 2024. BRC Asia, maintaining a 21% ROE, reported a 9% increase in net profit for 1H25 compared to 1H24.
The FTSE ST Small Cap Index, with a market capitalisation of S$33 billion, will retain its 42 constituents following the quarterly rebalancing effective after 20 June. The index’s performance highlights the strength of Singapore’s small-cap stocks in a competitive regional landscape.
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