DBS’ S$200 billion milestone: What will it take to create more high-performing big-cap stocks?
Singapore-listed companies should be pushed to become globally relevant in the same manner that the banks were encouraged to merge
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[SINGAPORE] The Singapore market achieved a milestone of sorts on Jul 13, as the market capitalisation of DBS breached the S$200 billion level.
At the close of trading that day, DBS had delivered a year-to-date total return of 29.1 per cent. This made it the fourth-best-performing constituent of the Straits Times Index (STI), behind Singapore Exchange (45.6 per cent), OCBC (42.8 per cent) and ST Engineering (31.4 per cent).
UOB was in sixth place with a total return of 27.9 per cent, just behind Wilmar’s total return of 28.9 per cent. The STI’s year-to-date total return stood at 20.3 per cent.
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