More than a defence contractor – ST Engineering’s Vincent Chong is ready for the next lap

[SINGAPORE] It is easy to look at ST Engineering’s rising share price and assume that the defence contractor is simply riding a wave of global instability amid growing military budgets and heightened geopolitical tensions.

​Indeed, ST Engineering is currently the best performer among the Straits Times Index (STI) blue-chip stocks in the year to date.

The stock has generated a total return – with dividends reinvested – of 28.4 per cent since the start of 2026, extending the strong momentum it built up last year. This dwarfs the 7.1 per cent total return of the STI over the same period.