This week brought a mix of corporate milestones and index developments for Singapore investors.
A pan-Asian retailer unveiled ambitious growth targets with higher dividend payouts, while a healthcare technology company achieved the largest non-REIT initial public offering on the SGX in eight years.
Meanwhile, the December quarterly review of the Straits Times Index (SGX: ^STI) saw two well-known names return to the reserve list.
DFI Retail Group Raises Dividend Payout Ratio to 70%
DFI Retail Group Holdings Limited (SGX: D01), the pan-Asian retailer behind brands such as Guardian, 7-Eleven, Cold Storage and IKEA, announced a new three-year strategic plan at its investor day on 3 December 2025.
The group raised its dividend payout ratio to 70%, up from the previous 60% guidance, effective from the final dividend of 2025.
DFI is targeting an underlying profit compound annual growth rate (CAGR) of 11–15% from 2025 to 2028, with ambitions to achieve US$310–350 million by 2028.
Group CFO Tom van der Lee noted that DFI expects to improve its return on capital employed (ROCE) to at least 15% by 2028.
The company plans to increase its online sales mix to 7–10% and expand its Health & Beauty and Convenience store networks through a capital-light franchise model.
DFI operates over 7,400 outlets across 12 markets, with total annual revenue of US$24.9 billion in 2024.
UltraGreen.ai Closes Up 4.8% in SGX Trading Debut
UltraGreen.ai Limited (SGX: ULG), a global leader in fluorescence-guided surgery technology, made a strong debut on the Singapore Exchange on 3 December 2025, marking the largest non-REIT IPO on the bourse since 2017.
The company priced its shares at US$1.45 apiece and raised US$400 million.
Shares jumped as much as 12% during intraday trading before closing 4.8% higher at US$1.52, giving the company a market capitalisation of approximately US$1.67 billion.
The IPO was 13.6 times oversubscribed, reflecting strong demand.
For FY2024, UltraGreen.ai posted revenue of US$114.7 million, representing 59.3% year-on-year growth, with net profit of US$56 million at a net margin of 48.8%.
CEO Ravinder Sajwan stated the company is now strategically expanding from Singapore to capture growth in Asia following its success in Europe and North America.
CapitaLand Ascott Trust and Sheng Siong Group Enter STI Reserve List
The December 2025 quarterly review of the Straits Times Index saw CapitaLand Ascott Trust (SGX: HMN) and Sheng Siong Group (SGX: OV8) enter the STI reserve list, which comprises the five highest-ranking non-constituent stocks by market capitalisation.
CapitaLand Ascott Trust is the largest lodging trust in Asia Pacific, with an asset value of S$8.8 billion as at 30 September 2025.
The trust owns a diversified portfolio across 16 countries, including serviced residences, rental housing and student accommodation.
Sheng Siong Group, one of Singapore’s leading supermarket chains, operates over 80 stores islandwide.
In its third quarter of 2025 (3Q2025) results, the group recorded revenue of S$415.5 million and net profit of S$43.8 million, up 14.4% and 12% year on year respectively.
Both companies have market capitalisations exceeding S$3 billion, positioning them as potential future additions to Singapore’s benchmark index.
Imagine a life where steady income flows, no matter the market. Our new free report, “Retire Early with Dividends,” reveals how. We’ve pinpointed 5 dependable Singapore dividend stocks that offer a proven, stress-free path to financial freedom. Stop just dreaming and start building your early retirement plan today. Your free guide awaits here.
Follow us on Facebook, Instagram and Telegram for the latest investing news and analyses!
