THIS year, close to a quarter of Singapore’s 100 most actively traded stocks have registered double-digit percentage growth in daily trading turnover from their respective 2022 levels.

Of the 23 stocks, 21 saw increased average daily trading turnover on the back of trading volume rather than price gains. These 23 stocks have in total seen on average S$202 million in shares changing hands daily so far this year, compared to S$113 million in 2022.

These include six Straits Times Index (STI) constituents, which comprised Singapore Airlines : C6L 0%, Seatrium : S51 0%, Genting Singapore : G13 0%, Sembcorp Industries : U96 0%, Sats : S58 0% and Thai Beverage : Y92 0%. These six stocks averaged 15 per cent price gains over the 2023 year through to Jul 26, while averaging 80 per cent higher daily trading turnover.

Seatrium

A significant corporate action underscored Seatrium’s increased trading volume while bolstering its market capitalisation to a level that it displaced Keppel DC Reit : AJBU 0% in the STI in the most recent quarterly rebalancing.

The combination of Sembcorp Marine and Keppel Offshore & Marine, was completed in February, allowing for the newly branded Seatrium to scale up and accelerate its advance into the cleaner and greener O&M market, offshore renewables, and new energy.

Seatrium’s net order book stands at S$19.73 billion, with as much as 40 per cent of this from renewables and cleaner/green solutions. Progressive deliveries are till 2030.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

Seatrium has averaged a daily trading turnover of S$43 million over the first 30 weeks of 2023, compared to averaging S$15 million over 2022. This has seen it rank as the sixth most traded stock by trading turnover so far this year, up from ranking the 23rd most traded in 2022.

At the same time, Keppel Corporation : BN4 0%has maintained its ranking as the eleventh most traded Singapore stock in both timeframes.

Food Empire Holdings

Food Empire Holdings : F03 0% has posted a 75 per cent price gain in the 2023 year to July 26, while its average daily trading turnover has soared to S$796,000, from S$130,000 in 2022. This saw the stock rank among the 85 most traded stocks so far this year, after ranking just outside the 170 most traded stocks in 2022.

The portfolio of the multinational food and beverage manufacturing and distribution group spans instant beverages, snack foods, with a growing presence in food ingredients. Its products are sold in over 60 countries across North Asia, Eastern Europe, South-east Asia, South Asia, Central Asia, Middle East, and North America. Its operations are supported by eight manufacturing facilities in five countries and 23 offices worldwide.

After booking record revenue and net profit for its FY22 (ended Dec 31), Food Empire Holdings’ Q1FY23 business update saw revenue increase 24 per cent and net profit increase 51 per cent, from a low base in Q1FY22. The group is expected to report its H1FY23 results in mid-August.

In April, Food Empire Holdings chairman, Tan Wang Cheow, highlighted that on a group-wide basis, its objective is to increase the revenue stream in other markets and reduce the proportion of revenue derived from the Russia market through organic and inorganic growth strategies in the longer run.

Tan is a founder of the group and has been instrumental in guiding the company’’s business, including taking it public in 2000. As a passionate believer in the power of brands, Tan is actively involved in the marketing and branding activities across the group.

TJ DaRenTang

While it’s traded in US dollars, Tianjin Pharmaceutical Da Ren Tang Group Corporation (Da Ren Tang Group) : T14 0% has averaged daily trading turnover of S$1 million for the 2023 year through to Jul 26.

This is up significantly from S$183,000 in 2022. While turnover has grown more than fivefold, the stock generated an 89 per cent price gain in Singapore dollar terms.

After ranking around the 150 most traded Singapore stocks in 2022, the stock has ranked as a top 80 stock by turnover for the first 30 weeks of 2023.

Da Ren Tang Group is the core pharmaceutical manufacturing arm of Tianjin Pharmaceutical Holdings, with green Chinese traditional medicine as its core business.

It is equipped with a complete industry chain, product chain and talent chain integrating production, management, and scientific research.

Its business also covers multiple areas including research, development and manufacturing of Chinese herbal medicines, proprietary Chinese medicines, chemical raw materials and preparations and nutritional and health products as well as pharmaceutical commerce.

In its Q1FY23 (ended Mar 31) Da Ren Tang Group reported an attributable net profit of 400 million yuan, a year-on-year increase of 101 per cent. This followed a net profit of 860 million yuan in its FY22, which was a year-on-year increase of 12 per cent from FY21.

Last year, China policymakers pursued a series of in-depth reforms to medical and health systems, while at the same time placing great importance to the development of traditional Chinese medicine.

In April, Da Ren Tang Group chairman, Zhang Mingrui, said that the group had been essentially also moving with the times and was pursuing strategic development in eight key areas, including marketing focus, organisation optimisation, platform integration, talent motivation, effective innovation, cost control and loss minimisation, digital empowerment, and cultural synergy.

Delfi

Delfi : P34 0% has also ranked among the 80 most traded Singapore stocks this year, while generating a 70 per cent price gain. Last year Delfi ranked among the top 140 traded stocks by turnover. Delfi has an established portfolio of chocolate confectionery brand names in Indonesia including SilverQueen and Ceres which were introduced in the 1950s and Delfi in the 1980s.

For its Q1FY23 (ended Mar 31), Delfi recorded 21 per cent year-on-year revenue growth, following 19 per cent revenue growth in FY22.

The Q1FY23 revenue was driven by consumer demand producing robust growth in both its own brands and agency brands, spanning both Indonesia and its regional markets. Indonesia contributes more than two-thirds of Delfi’s revenue.

Statista highlighted in April that the Indonesian retail sector has been rapidly growing, contributing around 13 per cent to the country’s gross domestic product. The report added that with its relatively large population of more than 270 million, the growing middle class with higher purchasing power, and millennials with bigger spending habits, Indonesia holds significant potential for the retail market.

Paralleling this, Delfi expects its business momentum to carry through for most of 2023 and thus remains focused on executing growth strategies for its core brands, strengthening distribution capabilities, and supporting growth in its regional businesses.

Flows

The 23 stocks booked combined net institutional inflow of S$395 million in the 2023 year to Jul 26.

As many as seven of the 23 stocks represented the industrial sector with the seven stocks seeing combined net institutional inflow of S$180 million. Note that the 23 stocks in the table do not include stocks that have been subject to takeover offers in 2023 or were suspended in part in 2022.

The writer is the market strategist at Singapore Exchange (SGX). To read SGX’s market research reports, visit sgx.com/research.