This week in Singapore’s financial landscape showcased significant corporate achievements and developments within market indices, exciting investors and analysts alike.
DFI Retail Group Holdings Limited, a key player in the pan-Asian retail space and parent of well-known brands such as Guardian, 7-Eleven, Cold Storage, and IKEA, announced a bold new three-year strategic plan during its investor day. The retailer has elevated its dividend payout ratio to 70%, up from a previous forecast of 60%, aiming to implement this change starting from the final dividend of 2025. The group targets a compound annual growth rate (CAGR) for underlying profit of 11–15% from 2025 to 2028, forecasting an impressive increase in profit to between US$310 million and US$350 million by 2028. CFO Tom van der Lee expressed optimism about improving the return on capital employed (ROCE) to at least 15% by 2028. Additionally, the company aims to enhance its online sales presence to 7–10% and plans to further develop its Health & Beauty and Convenience store segments through a capital-light franchise model. Currently, DFI operates over 7,400 outlets across 12 markets, generating annual revenue of US$24.9 billion in 2024.
Adding to the week’s highlights, UltraGreen.ai Limited, a leader in fluorescence-guided surgery technology, made an impactful debut on the Singapore Exchange, marking the largest non-real estate investment trust (non-REIT) initial public offering (IPO) since 2017. Priced at US$1.45 per share, UltraGreen raised US$400 million through its IPO, with shares initially surging as high as 12% during intraday trading before closing 4.8% higher at US$1.52, resulting in a market capitalisation of approximately US$1.67 billion. The public offering was notably oversubscribed by 13.6 times, a clear indication of strong demand among investors. For the financial year 2024, UltraGreen reported revenue of US$114.7 million, reflecting a robust year-on-year growth of 59.3%, alongside a net profit of US$56 million, equating to a net margin of 48.8%. CEO Ravinder Sajwan emphasized the company’s strategic expansion from Singapore into the Asian market, following successful operations in Europe and North America.
In other notable developments, the December quarterly review of the Straits Times Index revealed that CapitaLand Ascott Trust and Sheng Siong Group have entered the reserve list. This list comprises the five highest-ranking non-constituent stocks based on market capitalisation. CapitaLand Ascott Trust stands as the largest lodging trust in the Asia Pacific, with an asset value of S$8.8 billion as of September 30, 2025. It boasts a diverse portfolio spanning across 16 countries that includes serviced residences, rental housing, and student accommodations. Sheng Siong Group, a prominent supermarket chain in Singapore with over 80 outlets, reported third-quarter results showing revenue of S$415.5 million and a net profit of S$43.8 million in 2025, marking year-on-year increases of 14.4% and 12%, respectively. Both entities have market capitalisations exceeding S$3 billion, positioning them as strong candidates for future inclusion in Singapore’s benchmark index.
With these corporate milestones and index movements, this week has set a dynamic tone for Singaporean investors, highlighting opportunities and developments in key sectors.
