Can ST Engineering aspire to challenge DBS to be king of the local bourse?
Growing leading companies outside the banking sector will make the local stock market more vibrant
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[SINGAPORE] Unsurprisingly, Singapore’s largest group by market capitalisation is a bank – DBS . Having a strong shareholder in Singapore-headquartered global investment company Temasek helps drive DBS’ success.
Perhaps, more importantly, the lender’s success is helped by being in the fast-growing financial services sector and headquartered in Singapore, which is growing strongly as a financial hub. Think of wealth inflows to the Republic because of its safe-haven status in a tumultuous world, among others.
Led by a capable management team, DBS’ leading position on the local bourse could plausibly go unchallenged for many years.
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