It was a fabulous year for the Straits Times Index (SGX: ^STI) as it delivered a total return of 23.5% for 2024.
This was the strongest performance the local bourse has seen in more than 10 years.
The robust performance was contributed by the trio of Singapore banks that saw their share prices hit new all-time highs.
However, not all stocks within the bellwether index saw a share price rise.
Several blue-chip stocks suffered a tepid performance last year as their share prices fell.
Here are four stocks that saw their share prices languish.
Can investors hope for a rebound in 2025?
Venture Corporation (SGX: V03)
Venture Corporation is a provider of technology products, solutions, and services.
The group serves customers in various technology domains such as life science, genomics, medical devices, and networking and communications.
Venture’s share price dipped by 3.4% last year and closed at S$13.15, and was a far cry from the S$17.07 it traded at the beginning of 2023.
The technology products company reported a downbeat business update for the third quarter of 2024 (3Q 2024).
Revenue came in at S$689.7 million for the quarter, down 3.9% quarter-on-quarter and 2.4% year on year.
Net profit stood at S$60.6 million for 3Q 2024, down 4.3% year on year.
Venture churned out operating cash flow of S$393.8 million for the first nine months of 2024 (9M 2024) and ended the quarter with a net cash position of S$1.2 billion.
The contract manufacturer is advancing on its growth initiatives while waiting for the semiconductor upturn to arrive.
These include increased participation in the AI data centre technology domain with the delivery of newly-designed network interface cards.
The group also launched advanced thermoelectric controllers in a step forward within the precision control applications domain.
Venture sees good opportunities this year with new design wins and product introductions for the life sciences and AI data centre verticals.
In the next few quarters, the group will be onboarding new customers in selected technology domains.
Mapletree Logistics Trust (SGX: M44U)
Mapletree Logistics Trust, or MLT, is a logistics REIT with a portfolio of 186 properties spread across eight countries.
MLT’s assets under management (AUM) stood at S$13.4 billion as of 30 September 2024.
The industrial REIT saw its unit price plunge 27% in 2024 to S$1.27 as income investors fret over high interest rates and ongoing inflation.
For the first half of fiscal 2025 (1H FY2025) ending 30 September 2024, MLT’s gross revenue dipped 1.1% year on year to S$365 million.
The fall in revenue was attributed to lower contributions from China, absence of contributions from divested properties, and currency weakness for its regional currencies against the Singapore dollar.
Net property income dipped by 1.5% year on year to S$315.3 million while distribution per unit (DPU) tumbled 9.8% year on year to S$0.04095.
Despite the weak results, MLT’s portfolio occupancy stood high at 96%.
The manager is also engaged in active portfolio rejuvenation with the acquisition of three properties in Malaysia (1) and Vietnam (2).
A total of eight properties were divested in 1H FY2025 to free up capital to reinvest in modern assets with higher growth potential.
CapitaLand Ascendas REIT (SGX: A17U)
CapitaLand Ascendas REIT, or CLAR, is Singapore’s oldest industrial REIT.
CLAR’s portfolio comprises 229 properties that are located in Singapore, the US, Australia, the UK, and Europe.
CLAR’s AUM stood at S$16.9 billion as of 30 June 2024.
Last year, shares of CLAR declined 15.2% to end at S$2.57.
The industrial REIT reported a mixed set of earnings for the first half of 2024 (1H 2024).
Gross revenue rose 7.2% year on year to S$770.1 million, driven by acquisitions and newly completed properties in 2023.
Net property income improved by 3.9% year on year to S$528.4 million.
However, DPU fell by 2.5% year on year to S$0.07524 because of higher interest costs.
For its 3Q 2024 business update, CLAR’s portfolio occupancy stood high at 92.1%.
The industrial REIT also reported a strong positive rental reversion of 14.4% for the quarter.
Like MLT, CLAR is also active in capital recycling, having divested a logistics property in Singapore for S$112.8 million post-3Q 2024.
Elsewhere, the industrial REIT has six ongoing projects worth S$572.6 million that are undergoing redevelopment or refurbishment to improve their returns.
City Developments Limited (SGX: C09)
City Developments Limited, or CDL, is a leading real estate company with a network spanning 163 locations in 29 countries.
The group has a diverse portfolio of properties that cover residential, offices, hotels, student accommodation, retail malls, and integrated developments.
CDL’s share price tumbled by 23.2% in 2024 to S$5.11, the second consecutive year that the real estate giant’s share price has declined.
The group saw revenue plunge by 42.2% year on year to S$1.56 billion for 1H 2024.
Despite the fall, net profit increased by 32% year on year to S$87.8 million.
The 3Q 2024 saw healthy property sales in Singapore with a total of 321 units sold worth S$611.1 million.
This was a sharp jump from the prior year’s 183 units worth S$325 million.
Over in China, CDL announced the acquisition of a rare 27,994 square-metre mixed-use development site in Shanghai for around S$1.66 billion in November 2024.
Its lodging segment also posted encouraging operating metrics.
For the first nine months of 2024, revenue per available room (RevPAR) increased by 2.7% year on year to S$167.4. Room occupancy inched up slightly from 72.3% to 73.8% over the same period.
Our FREE report, ‘7 Singapore Blue-Chip Stocks That Can Pay You for Life,’ reveals stable, dividend-paying stocks with a history of strong returns—even in uncertain markets. Get insights on Singapore’s most dependable blue-chips and see how they can offer you steady income. Download it today to start building your portfolio with confidence.
Follow us on Facebook and Telegram for the latest investing news and analyses!
Disclosure: Royston Yang does not own shares in any of the companies mentioned.
