Singapore Stocks with Growth and Dividend Potential: iFAST, OCBC, Keppel DC REIT, and Genting Singapore
Singapore is known for its strong financial and investment market, offering opportunities for both growth and dividend investing. In this article, we highlight four Singapore stocks that have the potential to deliver both growth and dividends, helping investors on their journey towards retirement. These stocks include iFAST, OCBC, Keppel DC REIT, and Genting Singapore.
iFAST is a financial technology company that operates a platform for buying and selling unit trusts, shares, and bonds. The company has seen a strong financial performance in the first half of 2023, with total revenue increasing by 1.2% year on year to S$108.1 million. Operating profit also jumped significantly by 69.5% to S$9.1 million. iFAST paid out its second interim dividend of S$0.011, unchanged from the previous year, and has shown promising growth in its assets under administration.
OCBC, Singapore’s second-largest bank by market capitalization, reported impressive earnings for the first half of 2023. Net profit climbed by 38% year on year to S$3.6 billion, driven by a higher net interest margin of 2.28%. The bank also unveiled a refreshed strategy and aims to deliver an incremental increase of S$3 billion in revenue over the next three years. OCBC paid out an interim dividend of S$0.40, a 43% year-on-year increase.
Keppel DC REIT is a data center REIT with a portfolio of 23 data centers across nine countries. The REIT reported strong results for the first half of 2023, with its distribution per unit (DPU) increasing to S$0.05051. The REIT has no refinancing requirement for 2023 and has secured new contracts in Singapore, Ireland, and the Netherlands. With the increasing demand for data centers, Keppel DC REIT is well-positioned for growth.
Genting Singapore owns and operates the integrated resort at Resorts World Sentosa (RWS), which features hotels, a casino, a theme park, and various entertainment options. The company saw a significant increase in revenue for the first half of 2023, driven by the recovery in air travel and tourism. Operating profit more than tripled, and Genting Singapore raised its interim dividend by 50% compared to the previous year. The company has exciting plans for expansion, including the construction of new attractions and hotels.
In conclusion, these four Singapore stocks – iFAST, OCBC, Keppel DC REIT, and Genting Singapore – have shown strong performance and potential for both growth and dividends. Investors looking to accelerate their journey towards retirement should consider these stocks as part of their investment portfolio.
Please note that all investment decisions should be made after thorough research and consideration of one’s financial goals and risk tolerance.
