The 10 stocks recommended, along with additional stocks (in black) are shown in Chart 1. Food Empire was our big winner last year, given its steady growth in emerging markets. It is poised to report record earnings later this month. DFI Retail Group, meanwhile, was Exhibit A of the global investment community’s misguided optimism that China and Hong Kong will come roaring back following the pandemic. Despite more than half the stocks having negative returns, our 10 stocks averaged a return of 8.1%, owing to more significant returns from the winners. The full list of 10 + 5 stocks averaged 6.0% returns.
The returns were measured from the period of Jan 17, 2023, to Jan 17, 2024, using closing prices. All benchmarks and stock returns include dividend reinvested returns.
The average returns of both the 10 stocks and the extended 15 stocks outperformed the benchmark Straits Times Index, which returned only 0.7% in the one-year period. Chart 2 illustrates the comparative performance of our stocks against the STI and MSCI Singapore benchmarks.
See also: Five Singapore-listed ‘dividend diamonds’ to watch beyond banks and REITs
In the next 10 pages, The Edge Singapore team has selected their top 10 SGX-listed companies to place their bets on for 2024, based on data and info as at Feb 5. Read on to find out what they are.
This year, besides the ten stocks, we will just add one bonus pick: Soup Holdings.
Meanwhile, here’s a happy, healthy and prosperous Dragon Year to all our readers!