As investor priorities shift toward stability, identifying the next generation of blue-chip stocks has never been more important.
In the Singapore stock market, blue chips refer to the 30 companies which make up the Straits Times Index (SGX: ^STI).
While they are well known, there are other stocks that could join the index in the future.
These stocks should not only show strong fundamentals and long-term potential but also reward investors with regular dividend payouts.
Here are five future blue-chip contenders for 2025 that deserve your attention.
CapitaLand Ascott Trust (SGX: HMN)
CapitaLand Ascott Trust or CLAS, is the largest hospitality real estate investment trust (REIT) in Asia Pacific with 102 properties across 16 countries.
The REIT’s wide reach gives you a hint as to why it is a blue-chip candidate.
A good way to measure the trust’s progress is to observe its revenue per available unit (RevPAU) or the amount of revenue it generates per available room.
For the first quarter of 2025 (1Q 2025), CLAS reported an increase in portfolio-wide RevPAU of 4% year-on-year (YoY).
The trust credits this rise in RevPAU to a rise in average occupancy from 73% in 1Q 2024 to 77% in 1Q 2025.
Standouts include its Japanese assets, which saw a surge of RevPAU by 17% YoY to JPY21,393 on a same-store basis.
This increase in RevPAU in Japan is due to a rise in the average daily rate as international leisure bookings strengthen.
Another driver for CLAS’s increase in overall RevPAU is due to its successful asset enhancement initiatives (AEIs).
CLAS’s UK properties reported a 1Q 2025 RevPAU increase of 12% YoY to GBP139.
The largest contributing factor was the higher RevPAU of Citadines Holborn-Covent Garden London where the room rates were over 20% higher than 1Q 2023 after CLAS’s AEI.
The trust continues to offer an attractive dividend payout with a trailing distribution of S$0.061 per stapled security.
At S$0.865, CLAS offers a 7.1% distribution yield.
Keppel REIT (SGX: K71U)
Keppel REIT, or KREIT, is a commercial REIT that focuses on high-quality office properties in the Asia Pacific region.
The REIT is home to 13 commercial buildings worth US$9.5 billion as of March 2025.
The scale of its ownership shows up in its financials.
For 1Q 2025, KREIT reported a property income of S$68.7 million and net property income (NPI) of S$50.1 million.
The REIT is demonstrating growth, too.
For 1Q 2025, KREIT’s Australian portfolio saw a 20.8% YoY growth in attributable NPI (including joint ventures and associates) to S$27.1 million.
This growth is mainly contributed by the strong demand for KREIT’s four completed fitted suites at 255 George Street and increased occupancy at 2 Blue Street.
For the Singapore office market in 1Q 2025, a favourable rental environment contributed to a positive rental reversion.
However, the average office occupancy in the core central business district dipped 1% quarter-on-quarter, suggesting a softening of tenant demand.
Nonetheless, KREIT has the capacity to brave this risk due to its geographically diverse portfolio and commitment to AEIs.
At S$0.865, Keppel REIT offers a 6.5% distribution yield.
NetLink NBN Trust (SGX: CJLU)
NetLink NBN Trust is the sole consumer fibre network infrastructure provider supporting Singapore’s Nationwide Broadband Network (NBN).
This fact alone provides fuel to its bid in becoming a blue-chip stock.
For the fiscal year ended 31 March 2025 (FY2025), the trust reported a decline in revenue by 1% YoY to S$407 million.
This decline was due to a fall in ancillary project revenue from fewer work orders.
For context, ancillary projects are generally one-off implementation jobs that are a non-core segment of the trust’s fibre business.
NetLink NBN Trust shows an overall resilient portfolio with its recurring fibre connection revenue.
The trust saw residential connections increase from 1,506,997 in FY2024 to 1,523,724 in FY2025.
This segment continues to be the largest contributor to its overall revenue.
The revenue from the trust’s core business was also able to sustain a strong operating cash flow to support a 1.1% YoY rise in DPU to S$0.0536 for FY2025.
At S$0.870, Netlink Trust NBN offers a 6.2% dividend yield.
Looking ahead, the island nation’s launch of Smart Nation 2.0 in October 2024 is a big step forward to upgrade the city state’s broadband speeds to 10Gbps by 2026.
This government initiative will be a driver for NetLink NBN Trust’s business offerings in the future.
Suntec REIT (SGX: T82U)
Suntec REIT is a commercial REIT with a portfolio consisting of offices, retail and convention properties across Singapore, Australia and the United Kingdom (UK).
The REIT’s stake in Suntec City makes up the bulk of its rental income.
The REIT maintains a high occupancy rate of more than 90% across its portfolio.
Suntec REIT’s Singapore portfolio exhibited the greatest YoY rent reversion growth of 8% and 10.3% for its office and retail properties, respectively.
The REIT is also committed to having a diverse group of tenants for its mall, such as the inclusion of Paul and Kind Kones as new tenants at its namesake Suntec City Mall.
Elsewhere, Suntec Convention had a substantial NPI growth of almost 177% YoY.
This high growth is attributed to the 10 new-to-Singapore and new-to-Suntec meetings, incentives, conferences, and exhibitions (MICE) events in 1Q 2025 such as the AI Festival and IB Global Conference.
Suntec REIT also has a healthy distributed debt maturity profile and has refinanced their loans due in FY2025 and FY2026, reducing short-term debt maturity pressures.
At S$1.13, Suntec REIT offers a 5.5% distribution yield.
ComfortDelGro (SGX: C52)
ComfortDelGro or CDG is a multinational transport company with a primary focus on public and private transportation, vehicle rentals and automotive development across five countries.
For a sense of scale, the transportation company has operations in 13 countries with a fleet size of over 54,000.
In 1Q 2025, CDG also saw a rise in profits after tax and minority interest (PATMI) by 19% YoY to S$48.3 million.
Singapore emerged as the geographical segment with the highest operating profit of S$49.1 million in 1Q 2025, up from S$41.8 million in 1Q 2024.
This high operating profit is attributed to improved cost control and internal efficiencies across Singapore business segments.
For 1Q 2025, public transportation was the business segment with the highest operating profit of S$36.7 million.
During this period, operating profit rose by nearly 53% YoY due to its UK Metroline London public bus contract renewals at improved margins and commencement of the new UK Metroline Manchester.
Meanwhile, CDG also made strategic acquisitions such as A2B and Addison Lee where it leveraged their P2P business and technologies to stay competitive.
More importantly, for 2024, CDG increased its dividend payout by 16.7% YoY to S$0.077.
At S$1.41, CDG offers a 5.5% dividend yield.
Get Smart: Looking to join the big boys
As the markets evolve, Smart Investors should explore high-quality stocks beyond the usual fare.
While these stocks are not yet blue chip stocks, their performance trajectories and dividend reliability suggest they are well on track.
For investors seeking a balanced blend of growth and income in 2025 and beyond, these stocks offer a compelling place to start.
Some companies cut dividends in a downturn. These 5 didn’t.
Find out which Singapore blue chips have weathered past chaos…and why they could be your portfolio’s anchors in the next wave of downturn. Download the report free.
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Disclosure: Gabriel Lim does not own shares of any of the companies mentioned.
