To The Moon

$DBS GROUP HOLDINGS LTD(D05.SI)$$OVERSEA-CHINESE BANKING CORP(O39.SI)$$UNITED OVERSEAS BANK LIMITED(U11.SI)$$SINGTEL(Z74.SI)$$CAPITALAND LIMITED(C31.SI)$

As it stands, the top 10 companies within the Singapore index account for over 70% of the index’s weightage, as shown in the table above.

In fact, Singapore’s three major banks, DBS Group Holdings Ltd (SGX: D05), Oversea-Chinese Banking Corp. Limited (SGX: O39), and United Overseas Bank Ltd (SGX: U11), account for a whopping 43.6% of the STI.

If you add the next largest company, namely Singapore Telecommunications Limited (SGX: Z74), the top four companies would account for almost half of the index’s weight.

The Straits Times Index (SGX: ^STI) is home to 30 of the largest companies in Singapore

Changes are also afoot at CapitaLand (SGX: C31) where its property development arm will be privatised, leaving behind a restructured real estate investment manager (REIM) renamed as CapitaLand Investment Management (CLIM).

Before its exit, CapitaLand delivered a final hurrah, with strong results in its final quarter in its current form.

Elsewhere, compared to our last review in September 2020, CapitaLand Integrated Commercial Trust (SGX: C38U) has made its move into the upper echelons in terms of index weightage.