The Straits Times Index (SGX: ^STI), or STI, logged an amazing performance in the last three weeks.
The bellwether blue-chip index cracked the 4,200 level for the first time and made several new all-time highs.
Year-to-date (YTD), the STI has delivered a commendable performance by rising 11.3%.
However, not all the blue-chip stocks within the index saw their share price increase in tandem.
We highlight four blue-chip stocks that have lagged the STI thus far to try to determine if they could play catch-up.
Genting Singapore (SGX: G13)
Genting Singapore is the owner and operator of the integrated resort (IR) at Resorts World Sentosa (RWS).
The IR features 1,375 hotel rooms, the Singapore Oceanarium, a Universal Studios theme park, and a wide selection of retail, dining, and entertainment options.
Shares of the IR operator have dipped 3.2% YTD and are hovering at the S$0.74 level.
The group reported a downbeat set of earnings for the first quarter of 2025 (1Q 2025).
Total revenue fell 20% year on year to S$626.2 million, dragged down by a 24% year-on-year decline in gaming revenue to S$437.5 million.
Net profit plunged 41% year on year to S$145 million.
The results were also impacted by the ongoing renovation and upgrading works for the RWS 2.0 transformation project.
There could be better contributions flowing in for 2Q 2025 and beyond.
RWS opened its new themed zone, Illumination’s Minion Land, at Universal Studios Singapore back in February.
The new Singapore Oceanarium also opened its doors in late July and will contribute an additional revenue stream for Genting Singapore.
Soon, RWS will debut The Laurus, Singapore’s first all-suite luxury hotel featuring 183 spacious suites.
Construction has also begun on the RWS 2.0 Waterfront Complex, which will introduce another two luxury hotels along with a four-storey retail, entertainment, and dining podium.
CapitaLand Investment Limited (SGX: 9CI)
CapitaLand Investment Limited, or CLI, is a global real estate manager with funds under management (FUM) of S$117 billion as of March 2025.
Shares of CLI have risen roughly 6.8% YTD, underperforming the STI’s 11.3% rise.
For its 1Q 2025 business update, the group saw a slight 3% year-on-year increase in its fee income-related business to S$281 million.
The real estate investment business (REIB) revenue, however, dipped by 6% year on year after accounting for the deconsolidation of CapitaLand Ascott Trust (SGX: HMN).
For its lodging business, around 4,600 units were signed across 21 properties.
Revenue per available unit (RevPAU) rose 5% year on year for the division, driven by higher occupancy and higher average daily rates.
Back in June, CLI secured fresh capital commitments from new and existing institutional investors for its lodging private fund, CapitaLand Ascott Residence Asia Fund II (CLARA II).
United Overseas Bank (SGX: U11)
United Overseas Bank, or UOB, is Singapore’s third-largest bank by market capitalisation.
The lender’s shares have remained flat YTD, hovering at around S$36.60.
The bank reported a resilient set of earnings for 1Q 2025.
Total income rose 4% year on year to S$3.66 billion on the back of a 2% year-on-year increase in net interest income to S$2.4 billion.
UOB’s fee income saw a 20% year-on-year surge to S$694 million.
However, net profit for 1Q 2025 stayed flat year on year at S$1.49 billion.
Management sees growing demand for hedging from its clients, which could support fee income growth.
There is also a healthy pipeline of infrastructure financing opportunities, but guidance has been suspended for now until the macroeconomic situation stabilises.
Meanwhile, interest rates may also stay “higher for longer” as the US central bank holds back on cutting rates because of Trump’s tariff announcement.
The elevated interest rate may be a boon for UOB’s net interest margin and net interest income.
Venture Corporation Limited (SGX: V03)
Venture is a provider of technology services, products, and solutions.
The group serves customers in the life science, genomics, medical devices, networking and communications sectors.
Venture’s share price dipped by 5.5% YTD to around S$12.40.
The group reported a weak set of earnings for 1Q 2025.
Revenue dipped by 7.5% year on year to S$616.6 million because of lower demand in the lifestyle consumer technology domain.
Venture improved the reliability of the client’s key products, and this led to lower product replacements.
Earnings per share fell by 6.8% year on year to S$0.193.
The group is working on other initiatives to boost its networking and communications and advanced industrial verticals.
However, the ongoing tariff situation created significant uncertainty among Venture’s customers, which may impact the orders that the group gets.
Venture continued to proactively create solutions for its customers, and management sees opportunities to expand its market share in at least three or four technology domains.
Singapore’s stock market is on a historic run, but can it last? We’ll explore where interest rates are heading, whether blue-chip earnings can keep growing and more.
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Disclosure: Royston Yang does not own shares in any of the companies mentioned.
