The iEdge Singapore Next 50 Index tracks companies that sit just outside the Straits Times Index (SGX:^STI), often seen as the “next in line” to join the ranks of Singapore’s top 30 blue-chips.
These rising stars combine growing market caps, resilient earnings, and expanding institutional interest.
We spotlight three companies positioned for potential STI inclusion: iFAST Corporation Limited (SGX: AIY), Parkway Life REIT (SGX: C2PU), Sheng Siong Group Limited (SGX: OV8).
Why the STI matters
When a company joins the STI, it’s like getting promoted to the premier league.
STI membership brings heightened visibility and institutional investment, which typically leads to improved trading liquidity and share price revaluation.
But companies don’t get into the STI by luck.
They need solid fundamentals, consistent earnings, and the scale to compete with Singapore’s biggest names – that screening process alone tells you something about their quality.
iFAST Corporation Limited (SGX: AIY)
iFAST Corporation Limited (iFAST) operates a wealth management platform, providing a comprehensive range of investment products and services to financial advisory firms, financial institutions, banks, and sophisticated investors in Asia.
In iFAST’s latest 3Q2025 result, the group’s net revenue saw a jump of 39.9% year on year (YoY) to S$89.5 million and its net profit grew by 54.7% YoY to S$26 million.
This was supported by growth in the Hong Kong ePension business, a turnaround of iFAST Global Bank as well as sustained momentum in the group’s core wealth management platform business.
At the same time, Return on Equity (ROE) stood healthy at 26.1% for the first nine months of 2025.
iFAST’s board of directors expects to propose a total dividend per share of S$0.82 for 2025 or higher, representing an increase of at least 39% YoY.
One key growth driver ahead for iFAST will be to expand its presence in key markets such as Malaysia and China, and new opportunities in the Middle East and Europe.
This expansion will help support iFAST’s revenue diversification and grow its pool of customer base.
Meanwhile, iFAST is in the midst of developing a digital bank, to provide seamless banking services to its wealth management clients.
With the digital bank, iFAST can offer an integrated and comprehensive suite of financial services and stands to attract more potential customers.
iFAST’s sector leadership, strong earnings growth profile, combined with multiple levers of growth and revenue diversification across different geographies, make it a strong contender for the STI.
ParkwayLife REIT (SGX: C2PU)
ParkwayLife REIT (PLife REIT) is one of Asia’s largest listed healthcare REITs, with a diversified portfolio of healthcare and healthcare-related assets across Asia-Pacific and Europe.
Global ageing demographics and rising healthcare spending continue to benefit PLife REIT’s healthcare and nursing properties.
In addition, the REIT has established a strong brand name in the healthcare property sector, known for its high-quality properties and reliable management, thereby attracting premium tenants and investors.
For the first nine months of 2025 (9M2025), gross revenue rose 8.2% YoY to S$117.3 million and net property income grew by 8.1% YoY to S$110.7 million.
Distributable income to unitholders increased by 10.4% YoY to S$75.4 million – the improved overall performance was largely attributed to the acquisition of 11 nursing homes in France and one nursing home in Japan.
On the capital management front, the REIT remained prudent with a gearing ratio of just 35.8% and interest coverage ratio stood at a robust level of 8.9 times.
To mitigate interest rate risk, management has locked in rates for 97% of its debt exposure.
Meanwhile, continued focus on asset enhancement initiatives and built-in rental escalation in lease agreements allow existing properties to increase in valuation and ensure steady growth in revenue over time.
PLife REIT’s long track record of growth in its financial performance, exposure to favorable demographic trends, and experienced management could propel the REIT into the STI.
Sheng Siong Group Limited (SGX: OV8)
Sheng Siong Group Limited (Sheng Siong) operates a chain of supermarkets primarily in Singapore.
The company focuses on providing a mix of both live and fresh produce, frozen and processed foods, essential household merchandise, as well as other general merchandise.
In Sheng Siong’s latest 3Q2025 results, the group recorded revenue of S$415.5 million and net profit S$43.8 million, up 14.4% and 12% YoY, respectively.
The growth was mainly driven by the establishment of 11 new stores compared to a year ago, along with improvement in the sales mix as well.
The supermarket operator’s recent announcement on the construction of a warehouse, distribution centre and headquarters at the Sungei Kadut property is a key growth driver for the supermarket chain.
This latest investment will help support the growth plan of Sheng Siong, which has a target of adding three stores each year across the next 10 to 15 years.
Within the Sungei Kadut property, the company plans to leverage on advanced systems such as automated storage and retrieval systems (“ASRS”), robotics, and smart inventory management, improving cost efficiency and flexibility to support its expansion plan in the long term.
With Sheng Siong’s long operational track record, sizable market share and market leadership in Singapore, plus a well-laid expansion plan and growth potential ahead, the group is well-positioned for STI inclusion.
What this means for investors
These companies mentioned may not have joined the big leagues of the STI yet, but their growth trajectories and strong fundamentals suggest significant potential.
Investors looking beyond blue chips can capture both capital appreciation and dividend income.
Early entry into these rising stars offers exposure before institutional buying drives valuations higher.
Get Smart: Tomorrow’s Blue Chips Are Today’s Challengers
Today’s STI heavyweights were once yesterday’s challengers knocking on the door.
Companies like iFAST Corporation Limited, Parkway Life REIT and Sheng Siong Group Limited demonstrate that tomorrow’s index heavyweights are already building their track records today.
Long-term investors know the real opportunity: the next STI winners aren’t in the index yet – they’re just outside it, waiting to be discovered.
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Disclosure: Zheng Long does not own any shares of the companies mentioned.
