ST Engineering Hits All-Time High Ahead of Security Forum

Trading on SGX Rises; Stock Picks Roll In After MAS Update on $5b Equity Boost

- Kang Wan Chern

Shares of ST Engineering hit an all-time high last week after rising by 4.3 per cent to close on May 30 at $7.82.

The company's shares have been on a tear since the start of 2025, climbing more than 68 per cent on the back of record 2024 results and increased dividends over the period.

It also reported a solid first quarter for 2025, driven by strong growth in its defence and public security segment.

The strong share price performance came ahead of the weekend's anticipated annual defence-focused Shangri-La Dialogue in Singapore.

Addressing the audience at the dialogue on May 31, US Defence Secretary Pete Hegseth suggested that US allies and partners in Asia should take their cue from Europe, where members of the North Atlantic Treaty Organisation are committing to spend 5 per cent of their gross domestic product on defence.

Shares of Singapore Exchange (SGX) climbed through the week to reach a high of $14.33 on May 30 before dropping abruptly by almost 2 per cent to close at $14.02. No announcements were made on the day.

Trading activity on the exchange has increased in recent months, driven by market revival measures announced in February and growing investor interest in Singapore stocks as a safe haven amid global volatility.

Almost 29.5 billion shares worth around $41 billion were traded in April, up from around 26.8 billion shares valued at $29.6 billion traded in March, according to SGX data.

The average daily value of shares traded in April, at $1.9 billion, is the highest level since March 2020.

ANALYSTS PICK POTENTIAL WINNERS AHEAD OF $5B BOOST

Trading on the SGX has included shares in companies outside the benchmark Straits Times Index (STI), supported by a central bank-led programme to allocate $5 billion in seed capital to Singapore-based funds for investing in local, non-STI stocks.