Singapore Shares for the Week: 12 Blue-Chip Stocks Beat the Market

The Singapore market, as represented by the Straits Times Index (SGX: ^STI), ended Friday at 3259.57 points, crawling up 0.2% as compared to last week’s close of 3251.99 points.

Out of the 30 index components, 14 stocks were in the green, with 12 performing better than the STI during the week.

The best performer of the lot was Hutchison Port Holdings Trust (SGX: NS8U), surging 7.1% to US$0.455.

The container port business trust released its earnings for the second quarter of 2017 in July. Its performance was dismal as revenue declined 1.5% year-on-year to HK$2.89 billion while net profit tumbled 21.5% to HK$269.1 million. The business trust cut distributions by 32% to 9.50 Hong Kong cents per unit.

Earlier in the week, it released the forex rate that will be used to convert the distributions to Singapore dollars for unitholders who have not opted to receive their distributions in Hong Kong dollars or US dollars.

On the other end of the spectrum, CapitaLand Commercial Trust (SGX: C61U) was the biggest loser in the index. It tumbled 2.6% to end the week at S$1.70.

Coincidentally, both the trusts featured above are among the top five dividend-paying blue chips that offer yields of more than 5%.

Along with CapitaLand Commercial Trust, 13 other index components ended the week in the red; two were flat.

Out of the blue-chip universe, Mary Chia Holdings Ltd (SGX: 5OX), surged around 90% to S$0.11.

The eponymous founder of the wellness firm has agreed to sell 60.98% of her company to Suki Sushi Pte Ltd for S$11 million. Post-acquisition, the offeror and the other related parties will own 80.97% of Mary Chia Holdings.

Due to the buyout, a mandatory general offer for the rest of the shares was triggered. The offer price will be S$0.111, and the offeror does not intend to revise the price.

The above follows a buyout of another listed company, Blumont Group (SGX: A33). Earlier on Thursday, Ultimate Horizon Pte Ltd said it would be buying out the company embroiled in 2013’s penny stock saga.

The STI ETF (SGX: ES3), an exchange-traded fund which can be taken as a proxy for the Straits Times Index, is now valued at 11.6 times trailing earnings and has a dividend yield of 3.05%.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P owns units in CapitaLand Commercial Trust and STI ETF.