“A shipbuilder, a contract manufacturer, and a telco walked into a bar.”
It sounds like the setup to a joke, but in August, this unlikely trio turned out to be the month’s best-performing Singapore blue-chips.
While most Singapore investors celebrated the Straits Times Index‘s (SGX: ^STI) modest 2.2% gain in August, shareholders of three blue-chip giants had even more reason to pop the champagne.
YangZijiang Shipbuilding (SGX: BS6), Venture Corporation (SGX: V03), and Singtel (SGX: Z74) didn’t just beat the market; they crushed it, delivering returns that were four to seven times higher than the broader index.
These standout performances came amid diverse tailwinds: a shipbuilding boom, resilient tech manufacturing margins, and aggressive capital recycling strategies that rewarded patient investors.
1. YangZijiang Shipbuilding: Total returns 15.4% for August
Yangzijiang Shipbuilding (Holdings) Ltd. (“YZJ”) is one of China’s leading shipbuilding companies which is listed on the Singapore Exchange.
The group specialises in building a wide range of commercial vessels (containerships, tankers, and bulk carriers), and also operates in shipping and trade logistics, and real estate.
YZJ delivered a solid set of results for the six months ended 30 June 2025.
Revenue held steady at RMB 12.9 billion, down marginally by 1% year on year, with the decline attributed to the start of oil tanker construction.
The shipbuilder, which also holds strategic investments in joint ventures including Yangzi-Mitsui Shipbuilding, saw its gross profit jump 28% to RMB 4.4 billion compared to a year ago.
Net profit attributable to shareholders surged nearly 37% year on year to RMB 4.2 billion, driven by improved margins and strong contributions from joint ventures and associates totaling RMB 481 million.
Free cash flow moderated to RMB 371 million from RMB 6.6 billion a year ago because of higher working capital requirements.
Even so, the company maintained a healthy balance sheet, with RMB 24.4 billion in cash and cash equivalents against total debt of RMB 6.1 billion as at 30 June 2025.
Margins in the shipbuilding segment expanded impressively to 35%, powered by lower steel costs, improved contract pricing, and the successful delivery of high-value, large dual-fuel containerships.
While no interim dividend was declared for 1H2025, in line with its policy of declaring annually, YZJ paid a final dividend of S$0.12 per share for FY2024 in May 2025, almost twice the S$0.065 for FY2023.
As of 6 August 2025, the group reported an outstanding order book of US$23.2 billion, with deliveries stretching through 2029 and beyond.
The company further announced new shipbuilding contracts worth US$0.92 billion on 29 August 2025, reinforcing the strength of its order book and providing strong revenue visibility despite ongoing uncertainties around global trade and tariffs.
2. Venture Corporation: Total returns 9.9% for August
Founded over three decades ago, Venture Corporation is a leading global provider of technology services, products and solutions.
The group reported revenue of S$1.26 billion for 1H2025, down 8.8% year on year, primarily due to lower customer demand in the Lifestyle technology domain.
Nonetheless, the company demonstrated resilience and discipline, maintaining healthy profit margins as a result of a favourable sales mix.
Venture registered a net profit of S$113 million, translating to a healthy net margin of 9.0% for 1H2025.
Armed with a fortress balance sheet with zero debt and a strong cash position of S$1.26 billion as of 30 June 2025, the group continued to focus on reducing inventories and optimising trade receivable and payables to improve its working capital position.
Looking ahead, the technology solutions provider remains confident despite ongoing uncertainties in the tariff environment and softness in the Lifestyle domain.
The company declared an interim dividend of S$0.25 per share plus a special dividend of S$0.05 per share for 1H 2025, bringing it up to S$0.30 as compared to S$0.25 a year ago.
Venture continues to invest in capabilities supporting long-term growth while expanding market share, positioning itself to capture opportunities and deliver long-term value to stakeholders.
3. Singtel: Total returns 9.7% for August
Singapore’s largest telco, Singapore Telecommunications Limited (Singtel) delivered a robust financial performance for the first quarter of the fiscal year ending 31 March 2026 (Q1FY2026) despite currency headwinds.
The leading telecommunications and technology group with operations across Singapore and Australia (Optus)saw strong results driven by improved performances across key business units.
Optus delivered a stellar 36% year-on-year increase in operating profit, supported by mobile service revenue growth of 4.0% from price increases and a higher mobile customer base.
NCS achieved 22% operating profit growth on the back of strong government business momentum.
Singtel also holds strategic stakes in regional mobile operators including Bharti Airtel, Telkomsel, AIS, and Globe.
Regional associates contributed significantly, with Bharti Airtel’s post-tax contribution more than doubling year on year due to tariff hikes and strong 4G/5G customer additions in India.
Singtel’s active capital management under its Singtel28 strategy made substantial progress during the quarter.
The group monetised a 1.2% stake in Airtel for S$1.9 billion and completed the Intouch-Gulf Energy merger, generating total exceptional gains of S$2.2 billion.
All in all, operating revenue remained stable at S$3.4 billion year on year, though it would have grown 2.9% in constant currency terms.
Operating profit surged 9.6% to S$418 million compared to a year ago, while underlying net profit jumped 14% to S$686 million.
Although no dividend has been declared for Q1FY2026, Singtel paid total dividends of S$0.17 per share for FY2025, up 13% from S$0.15 in FY2024, including core dividends of S$0.123 and a value realisation dividend of S$0.047.
CEO Yuen Kuan Moon expressed confidence in accelerating growth through continued business momentum and Singtel’s capital recycling initiatives.
Get Smart: Long-term gains, not monthly swings
At the end of the day, this trio may have shared the spotlight in August, but it’s no excuse to get drunk on the stocks just yet.
The real measure of success lies beyond the month-to-month swing.
Long-term performance, not fleeting momentum, are what matters most.
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Disclosure: The Smart Investor does not own any of the shares mentioned.
