The FTSE ST Industrials Index achieved a remarkable 44% total return in 2025, with a further 3% gain in early January trading. Comprising 16 stocks from the FTSE ST All-Share Index, the Index recorded S$265m in net institutional inflows last year and maintained an average daily turnover of S$193 million. This performance underscores the sector’s pivotal role in Singapore’s economy, spanning construction, engineering, marine, and environmental services.
Hong Leong Asia and Marco Polo Marine emerged as standout performers. Hong Leong Asia, a diversified industrial group, achieved 173% total returns in 2025, driven by strong growth in powertrain unit sales and new energy initiatives. Marco Polo Marine, a regional marine logistics company, expanded its fleet and capabilities, securing major contracts like a S$198m shipbuilding project for Taiwan’s National Academy of Marine Research.
The broader group of FTSE ST Industrials Index constituents and other Singapore-listed industrial stocks with market capitalisation above S$100m saw median total returns of 61% in 2025, supported by S$741m in net institutional inflows. Companies like Sanli Environmental and Soilbuild Construction Group experienced significant increases in trading activity in the second half of 2025.
Looking ahead, the industrial sector’s ability to integrate within regional supply chains and leverage technology and sustainability practices will be crucial for sustaining growth. Government initiatives, such as infrastructure development and the green transition, are expected to continue providing tailwinds for the sector.
