The 10 Largest Companies Listed In Singapore: No.5 To No.6

I had recently taken a look at the 10 largest real estate investment trusts listed in Singapore’s stock market in terms of market capitalisation. I thought it will be interesting as well to have an overview of the largest stocks listed here.

It is easy to assume that all the 10 largest Singapore-listed companies would be part of the Straits Times Index (SGX: ^STI) given that one of the index’s criteria for inclusion is a company’s market capitalisation. But that’s not true. In fact, one of the 10 is not part of the index.

In this article, I’d be looking at the fifth to sixth largest stocks, starting with the fifth. For the seventh to the tenth, you can head here. For the first to the fourth, check out here.

Countdown to No. 5

Coming in at sixth and fifth are the sister companies Jardine Matheson Holdings Limited (SGX: J36) and Jardine Strategic Holdings Limited (SGX: J37), respectively. They have market capitalisations of S$25.2 billion and S$25.5 billion.

What’s interesting here is that Jardine Matheson owns 84% of Jardine Strategic’s shares while Jardine Strategic in turn owns a 57% stake in Jardine Matheson.

Jardine Strategic is the aforementioned company within the top 10 list that is not part of the Straits Times Index. It owns:

  • 78% of Dairy Farm International Holdings Ltd (SGX: D01), one of the largest bricks-and-mortar retailers in Asia;
  • 50% of Hongkong Land Holdings Limited (SGX: H01), a leading property group in Asia;
  • 77% of Mandarin Oriental International Limited (SGX: M04), a global hospitality company;
  • and 75% of Jardine Cycle & Carriage Ltd (SGX: C07), a company with wide business interests in Indonesia. (Hongkong Land and Jardine Cycle & Carriage happen to occupy ninth and tenth spot in the top 10 list.)

Due to the nature of Jardine Matheson and Jardine Strategic’s cross-ownership, Jardine Matheson also has interests in all the companies mentioned above.

But beyond those, Jardine Matheson owns other businesses as well, such as Jardine Pacific, an engineering and construction company, and Jardine Motors Group, a company with auto interests in Hong Kong, Macau, China, and the United Kingdom. Jardine Matheson also has a 42% stake in UK-listed Jardine Lloyd Thompson, a leading insurance group.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. The Motley Fool Singapore has recommended shares of Dairy Farm International. Motley Fool Singapore writer Stanley Lim owns shares in Diary Farm International and Jardine Cycle & Carriage.