SINGAPORE - Despite global headwinds, eight most actively traded manufacturing stocks in Singapore averaged a 16 per cent year-to-date return in 2019 as at Oct 4, and received more than $510 million in net institutional inflow combined during this period, the Singapore Exchange said in a research note on Monday.
"Just as manufacturing contributes at least 20 per cent to Singapore's GDP , eight of Singapore's 40 top stocks by turnover over the first nine months of 2019 maintained a manufacturing focus," SGX noted. According to the Singapore bourse, Wilmar and Thai Bev saw similar net institutional inflows of close to $200 million, with Thai Bev emerging the stronger of these two stocks. For the nine months ended June 30, Thai Bev's sales revenue rose 18 per cent year on year , led by growth from its beer and food segments.
For AEM Holdings and Hi-P International, both stocks saw similar net institutional inflow totalling $25 million for the first nine months of 2019. AEM Holdings previously reported that as at Sept 12, the company had received sales orders worth $280 million for delivery in the financial year ending Dec 31. Its management has also revised its revenue range upwards to between $285 million and $305 million for FY2019, versus revenue of $262 million for FY2018.
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