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Linking up Financial Year highlights for the STI

With our economy expanding 4.1% in 2013, Singapore was ranked the strongest growing advanced economy for the year along with Latvia in Northern Europe. This was according to estimates made by the International Monetary Fund (IMF) made in April, which also projected that our economy would expand by 3.6% in 2014.

On a corporate level, a number of Annual Reports that ended with the 2013 calendar year were also released in April. These reports provide investors an annual snapshot of the progress of the company, including audited financial statements, management discussions on the business and a briefing from the Chairman.

There were 23 Straits Times Index (SGX:^STI) constituents whose 2013 financial year corresponded with the 2013 calendar year. While Singapore’s economic growth of 4.1% provided a foundation for these constituents, the majority of the constituents are international businesses, in addition to being more subjected to sectorial trends.

Nevertheless, for some of Singapore’s largest corporations, management discussions on business and the Chairman’s briefing can provide a good overview of the past year’s growth and perhaps the broad opportunities and challenges ahead in 2014. The table below provides links to the 2013 Financial Year Annual Reports for the 30 STI companies.

Name SGX Code Mkt Cap S$M Total Rtn YTD % Total Rtn 12M % Dvd Ind Yld % ICB Subsector Name Link to FY13 Annual Report
SINGAPORE TELECOMMUNICATIONS Z74

61062

4.6

1.9

4.4

Mobile Telecommunications Click here
JARDINE MATHESON HLDGS LTD J36

53108

20.5

0.1

2.2

Diversified Industrials Click here
JARDINE STRATEGIC HLDGS LTD J37

50094

11.5

-6.1

0.7

Diversified Industrials Click here
DBS GROUP HOLDINGS LTD D05

41428

-0.9

4.4

3.4

Banks Click here
UNITED OVERSEAS BANK LTD U11

34315

5.1

8

3.2

Banks Click here
OVERSEA-CHINESE BANKING CORP O39

33132

-3.7

-8

3.5

Banks Click here
WILMAR INTERNATIONAL LTD F34

21757

-0.6

2.9

2.4

Food Products Click here
HONGKONG LAND HOLDINGS LTD H78

20628

20.2

1

2.6

Real Estate Holding & Development Click here
KEPPEL CORP LTD BN4

19125

-3.2

3

3.8

Oil Equipment & Services Click here
JARDINE CYCLE & CARRIAGE LTD C07

16686

30.5

-0.3

2.9

Specialty Retailers Click here
GENTING SINGAPORE PLC G13

16223

-11.4

-13.1

0.8

Recreational Services Click here
THAI BEVERAGE PCL Y92

14815

11.5

0.7

2.6

Brewers Click here
CAPITALAND LTD C31

13626

5.6

-12.8

2.5

Real Estate Holding & Development Click here
GLOBAL LOGISTIC PROPERTIES L MC0

13566

-1.4

4.7

1.4

Real Estate Holding & Development Click here
SINGAPORE AIRLINES LTD C6L

12192

-0.3

-4

2.6

Airlines Click here
SINGAPORE TECH ENGINEERING S63

11908

-0.5

-9.8

1.8

Aerospace Click here
CITY DEVELOPMENTS LTD C09

9848

13.6

-2.4

0.7

Real Estate Holding & Development Click here
SEMBCORP INDUSTRIES LTD U96

9596

0.9

11

2.8

Oil Equipment & Services Click here
CAPITAMALLS ASIA LTD JS8

8614

13.6

7.9

1.6

Real Estate Holding & Development Click here
NOBLE GROUP LTD N21

8523

20.1

16.5

0.9

Diversified Industrials Click here
SEMBCORP MARINE LTD S51

8504

-6.7

-2.6

2.7

Oil Equipment & Services Click here
GOLDEN AGRI-RESOURCES LTD E5H

7831

12.9

17.2

1.8

Farming & Fishing Click here
HUTCHISON PORT HOLDINGS TR-U NS8U

7419

4.7

-10

8.5

Transportation Services Click here
SINGAPORE EXCHANGE LTD S68

7404

-3.6

-3.8

4

Investment Services Click here
STARHUB LTD CC3

7155

-2.1

-8.1

4.8

Mobile Telecommunications Click here
CAPITAMALL TRUST C38U

6903

7.6

-9.4

5.2

Retail REITs Click here
SINGAPORE PRESS HOLDINGS LTD T39

6702

1.7

3.3

3.6

Publishing Click here
SIA ENGINEERING CO LTD S59

5345

-5.3

-1.1

4.6

Transportation Services Click here
OLAM INTERNATIONAL LTD O32

5340

45.3

36.7

1.8

Food Products Click here
COMFORTDELGRO CORP LTD C52

4518

5.5

10.4

3.3

Travel & Tourism Click here

Source: Bloomberg (Data as of 30 April 2014)

Name SGX Code Mkt Cap S$M Total Rtn YTD % Total Rtn 12M % Dvd Ind Yld % ICB Subsector Name Link to FY13 Annual Report
ASCENDAS REAL ESTATE INV TRT A17U

5502

7.5

-11.3

6.2

Industrial & Office REITs Click here
KEPPEL LAND LTD K17

5349

7.5

-11.6

3.8

Real Estate Holding & Development Click here
UOL GROUP LTD U14

4950

7

-7.1

2.3

Real Estate Holding & Development Click here
CAPITACOMMERCIAL TRUST C61U

4609

13.5

-1.1

5.2

Industrial & Office REITs Click here
YANGZIJIANG SHIPBUILDING BS6

4215

-7.2

22.2

4.5

Commercial Vehicles & Trucks Click here

Source: Bloomberg (Data as of 30 April 2014)

Please note the tables above are sorted by market capitalisation.  Some Annual Reports in the links above have been available for some time as seven companies completed their financial year before the end of the 2013 calendar year.

Comparing Annual Reports that are within the same sectors can help to identify the regional or global economic aspects that are more relevant to the company’s line of business. Among the entire 35 stocks there are 19 different subsectors represented as defined by the Industry Classification Benchmark (ICB). Subsectors with multiple representations in the STI & STI Reserve List are Banks, Diversified Industrials, Food Products, Industrial & Office REITs, Mobile Telecommunications, Oil Equipment & Services, Real Estate Holding & Development and Transportation Services.

Investors can also use Annual Reports to review the financial statements to assess various aspects of the business performance and risks from a quantitative perspective.

Over the 12 months ending with April 2014, the average total return of the 30 STI constituents was 6.5% and the average total return of the five reserve stocks was 5.7%.