{"id":13067,"date":"2025-11-20T10:29:32","date_gmt":"2025-11-20T02:29:32","guid":{"rendered":"https:\/\/sgbuzz.com\/?p=13067"},"modified":"2025-11-20T10:29:32","modified_gmt":"2025-11-20T02:29:32","slug":"10-singapore-growth-stocks-that-delivered-more-than-100-in-5-years","status":"publish","type":"post","link":"https:\/\/sgbuzz.com\/?p=13067","title":{"rendered":"10 Singapore Growth Stocks That Delivered More Than 100% in 5 Years"},"content":{"rendered":"


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Many investors think that the Singapore stock market is a low-growth stock market with value highly concentrated in just a few Straits Times Index stocks.<\/p>\n

Here we look to dispel this myth by highlighting 10 stocks that have achieved compounded revenue growth of more than 10%. With strong consistent revenue growth, the stocks have also seen their share price outperform the broader market.<\/p>\n

These 10 stocks were selected from the new iEdge Singapore Next 50 Index<\/a>.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Name<\/strong><\/td>\nTicker(SGX)<\/strong><\/td>\nRevenue CAGR (5y) (%)<\/strong><\/td>\n5 Years Total Return (%)<\/strong><\/td>\n<\/tr>\n
CSE Global<\/td>\n544<\/td>\n13.8%<\/td>\n190.5%<\/td>\n<\/tr>\n
UMS Integration Limited<\/td>\n558<\/td>\n12.9%<\/td>\n116.1%<\/td>\n<\/tr>\n
iFast Corporation Ltd<\/td>\nAIY<\/td>\n25.0%<\/td>\n167.5%<\/td>\n<\/tr>\n
BRC Asia Limited<\/td>\nBEC<\/td>\n10.2%<\/td>\n357.6%<\/td>\n<\/tr>\n
First Resources Limited<\/td>\nEB5<\/td>\n11.1%<\/td>\n127.9%<\/td>\n<\/tr>\n
Food Empire Holdings Limited<\/td>\nF03<\/td>\n10.5%<\/td>\n473.5%<\/td>\n<\/tr>\n
Centurion Corporation Limited<\/td>\nOU8<\/td>\n20.4%<\/td>\n386.0%<\/td>\n<\/tr>\n
PropNex Limited<\/td>\nOYY<\/td>\n13.3%<\/td>\n827.2%<\/td>\n<\/tr>\n
Geo Energy Resources Limited<\/td>\nRE4<\/td>\n10.0%<\/td>\n624.0%<\/td>\n<\/tr>\n
UOB-Kay Hian Holdings Limited<\/td>\nU10<\/td>\n14.3%<\/td>\n135.6%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n

The iEdge Singapore Next 50 Index is a new index launched by the SGX to track the 50 largest companies listed on the SGX Mainboard after<\/em><\/strong> the top 30, providing a barometer for Singapore\u2019s mid-cap market.<\/p>\n

It was created to enhance visibility and liquidity for mid-sized companies beyond the traditional blue chips.<\/p>\n

It uses market capitalization for weighting and includes a diverse mix of companies across various sectors. The index is rebalanced quarterly, with a 5% cap on each stock.<\/p>\n

There is sector diversity in this index as it includes companies from a variety of sectors such as industrials, financials, energy, and real estate investment trusts (REITs).<\/p>\n

Why does this Index matter?<\/strong><\/h2>\n

It is our opinion that it is likely that the $5 billion Equity Market Development Programme (EQDP) that was launched by the Monetary Authority of Singapore (MAS) in Feb 2025 would be deployed to many of these stocks as the EQDP is an initiative designed to boost the liquidity and visibility of Singapore-listed small-to-mid-cap stocks.<\/p>\n

Analysis of these 10 stocks<\/strong><\/h2>\n

Here we look at the growth drivers for each stock and assess whether their growth is likely to continue.<\/p>\n

1) CSE Global (SGX:544)<\/h2>\n
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CSE Global is doing well in the data center sector, and has recently formed strategic partnerships, most notably a game-changing partnership with Amazon<\/p>\n

Amazon could be placing up to an amazing USD1.5 billion of work with CSE over the next five years. Before this, CSE has already been servicing Amazon for the last few years with prior contract sizes of US$40m\u201350m.<\/p>\n

This new deal, which will see Amazon inject up to S$48.3 million cash by exercising warrants issued by CSE, is a game changer for CSE. It validates CSE as a serious player in the US data centre market, recognised by Amazon.<\/p>\n

CSE should be the most interesting company in this list, provided that they can deliver on their commitments.<\/p>\n

2) UMS Integration Limited (SGX:558)<\/h2>\n
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Despite a revenue decline this year, UMS could still have a strong revenue growth trajectory due to a major production ramp-up and new product introductions for a new key customer.<\/p>\n

It is strategically positioning itself to benefit from the ongoing shift of supply chains to Asia and the acceleration of AI investment and will benefit from strong industry tailwinds, with the global semiconductor market itself expected to see significant growth in the coming years.<\/p>\n

3) iFast Corporation Ltd (SGX:AIY)<\/h2>\n
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iFAST<\/a> is one stock with little doubt around its revenue growth. It has many engines firing all at once including from its Hong Kong ePension business and by steadily growing its asset under administration in its core wealth management platform.<\/p>\n

iFAST\u2019s digital bank achieved profitability in late 2024 and is expected to deliver a full year of profitability in 2025, adding another growth engine to the group\u2019s revenue.<\/p>\n

However, valuations have been a little lofty due to the continued strong share price performance, even though revenue has more than doubled compared to 3 years ago.<\/p>\n

4) BRC Asia Limited (SGX: BEC)<\/h2>\n
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BRC Asia experienced a 6% decline in revenue in the first half of year 2025, due to weaker steel prices and project bottlenecks in the construction sector. However, the company\u2019s revenue grew 7% in the third quarter of year 2025 compared to the previous year, driven by a 22% increase in steel volume delivered. Looking ahead, a record order book of S$2 billion, bolstered by recent contracts for Changi Airport T5, is expected to support future revenue growth.<\/p>\n

BRC Asia together with HG Metal are both held by the same substantial shareholder which gives them a significant market share in the steel market and benefits both companies.<\/p>\n

5) First Resources Limited (SGX: EB5)<\/h2>\n
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First Resources Limited\u2019s revenue growth has been strong recently, with a nearly 60% increase in the first nine months of 2025 compared to the same period in 2024. This growth was driven by higher crude palm oil (CPO) prices and increased production volumes, partly due to the acquisition of PT Austindo Nusantara Jaya (ANJ).<\/p>\n

Oil prices have been somewhat low due to the increased supply. With CPO prices somewhat correlated with oil prices, any crude oil price increases generally lead to higher CPO prices, though the strength of this correlation can vary based on factors like government policies and supply chain dynamics.<\/p>\n

6) Food Empire Holdings Limited (SGX: F03)<\/h2>\n
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Food Empire reported strong revenue growth in its first nine months of 2025, with a 24% increase in revenue. This performance was driven by growth across its core segments, particularly Southeast Asia and Russia, Ukraine, Kazakhstan, and CIS countries, and is on track for a fifth consecutive year of record topline revenue with focused marketing and brand investments in markets like Vietnam<\/p>\n

Food Empire has also expanded its distribution network in various ways, such as by selling a Vietnamese coffee product on AirAsia flights as well as through retail channels across the region.<\/p>\n

7) Centurion Corporation Limited (SGX: OU8)<\/h2>\n
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Centurion Corporation<\/a> saw a 12% revenue increase for the first nine months of 2025, driven by high occupancy and rental reversions in its worker and student accommodation segments. This growth was particularly strong in Singapore, which saw a 14% revenue increase for the period in its Purpose Built Workers Accommodation segment. The company anticipates continued growth due to a strong pipeline of new developments and positive market demand through its entity as well through its newly listed CAREIT.<\/p>\n

It has a healthy pipeline of projects scheduled for completion through 2026 and 2027 across Singapore, Malaysia, Australia, and the UK, suggesting potential for future growth as it focuses on organic growth, asset enhancement initiatives, new developments, and expanding fee-based income.<\/p>\n

8) PropNex Limited (SGX: OYY)<\/h2>\n
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A property agency\u2019s revenue is directly and significantly tied to property transaction volume. The primary revenue source for most property agencies is the commission earned on completed real estate sales and rentals, which are inherently volume-dependent<\/p>\n

Market Conditions: Overall market conditions, interest rates, and government policies can influence transaction volumes, causing agency revenues to fluctuate with the real estate cycle.<\/p>\n

9) Geo Energy Resources Limited (SGX: RE4)<\/h2>\n
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Geo Energy Resources has experienced significant revenue growth in 2025 so far, largely driven by a surge in sales volume that has offset lower average coal prices, with 3Q25 prices nearly halved of the 3Q24 prices.<\/p>\n

Strong future revenue growth is also expected due to expansion efforts. Geo Energy is investing in an MBJ Integrated Infrastructure Project which remains on track for completion by 1H26. The project includes a 92km hauling road and jetty, which is expected to reduce transportation costs by over US$10\/tonne and double production capacity to 25Mt per year with offtake agreements in place.<\/p>\n

10) UOB-Kay Hian Holdings Limited (SGX: U10)<\/h2>\n
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Similar to PropNex, a brokerage\u2019s revenue is directly and significantly tied to trading volume. There is also revenue from other key areas including margin financing, IPO and other corporate finance advisory, and equity underwriting and share placement.<\/p>\n

Overall trading sentiments will drive volume while macro market conditions such as economic growth and interest rates will drive corporate finance and fund raising activity.<\/p>\n

By and large, local brokerages such as UOBKH<\/a> are facing competition from an influx of foreign brokerages from the US and China.<\/p>\n

Closing statements<\/strong><\/h2>\n

It is clear that the new iEdge Singapore Next 50 Index will bring attention and trading liquidity to many of these small to mid cap stocks. Those companies who can deliver outsized strong revenue and profit growth will also see a rerating and carry valuation premium as opposed to a discount before.<\/p>\n

Of these 10 stocks, we favour CSE and UMS. CSE is a hot favourite now due to Amazon\u2019s interest while UMS is in a strategic industry with ample tailwinds despite the short term cyclical conditions. We also covered UOBKH recently as a potential delisting target <\/a>as the Wee family consolidates its holdings. The two resources companies First Resources and Geo Energy are a more commodity-centric play, which means investors must first be confident of their views of where commodity prices are heading before considering them.<\/p>\n

p.s. if you want to learn how to analyse and find the best stocks to buy,\u00a0<\/strong><\/em>Alvin shares our strategy at this live webinar<\/em><\/strong><\/a>.<\/strong><\/em><\/p>\n<\/p><\/div>\n


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