Yahoo Finance Share Prices of These 5 Singapore Blue-Chip Stocks Are Hitting Their 52-Week Lows: Are They a Bargain?
Blue-chip stocks are famed for their resilience and solid track record.
Investors include such stocks within their portfolios to act as a stable foundation through various economic cycles.
Despite their status as dependable businesses, blue-chip stocks do come under pressure from time to time as sentiment towards their businesses may sour.
The key is for investors to discern if such troubles are temporary and that the shares could represent attractive bargains.
Here are five Singapore blue-chip stocks that recently plumbed their 52-week lows. Do these businesses deserve a place within your buy watchlist?
City Developments Limited (SGX: C09)
City Developments Limited, or CDL, is a global real estate company with a network covering 163 locations within 29 countries.
The group’s portfolio comprises residences, offices, hotels, serviced apartments, retail malls, and integrated developments.
Shares of the property giant have tumbled by 20.6% year-to-date (YTD) and recently touched their 52-week low of S$5.16.
CDL released an encouraging operational update for the first quarter of 2024 (1Q 2024).
In Singapore, the group and its associates sold 429 residential units that generated sales revenue of S$736.8 million.
This performance was sharply higher than the prior year’s 88 units with a sales value of S$213.2 million.
Over at CDL’s hotels division, room occupancy rose 3.1 percentage points for 1Q 2024 to 70.1%.
Revenue per available room (RevPAR) improved by 5.3% year on year to S$139.4 for the quarter.
Back in May, CDL purchased the 268-room Hilton Paris Opera Hotel for around S$356 million, marking the group’s third acquisition of a European property from a fund run by Blackstone.
Frasers Logistics & Commercial Trust (SGX: BUOU)
Frasers Logistics & Commercial Trust, or FLCT, has a portfolio comprising 112 industrial and commercial properties across Australia, Singapore, Germany, the UK, and the Netherlands.
FLCT’s assets under management (AUM) stood at S$6.8 billion as of 31 March 2024.
The REIT’s unit price has declined by 17% YTD to S$0.945, just slightly above its 52-week low of S$0.94.
FLCT released a mixed set of earnings for the first half of fiscal 2024 (1H FY2024) ending 31 March 2024.
Revenue rose 3.9% year on year to S$216 million because of acquisitions in Germany along with the completion of a development in the UK.
However, finance costs climbed 34.5% year on year to S$29.2 million because of the rise in interest rates, causing distribution per unit (DPU) for 1H FY2024 to dip by 1.1% year on year to S$0.0348.
Despite the lower DPU, FLCT maintained a healthy portfolio occupancy of 94.3% and also chalked up a positive rental reversion of 14.2% for its latest quarter.
Seatrium Limited (SGX: 5E2)
Seatrium provides engineering solutions to the global offshore, marine, and energy industries.
The group has more than 60 years of experience in the design and construction of oil rigs, floaters, offshore platforms, and specialised vessels.
Seatrium’s share price has plunged 40% YTD to S$1.44, just a whisker away from its 52-week low of S$1.36.
The Monetary Authority of Singapore and the Commercial Affairs Department have requested information relating to Operation Car Wash, a long-running corruption case in Brazil.
Back in March, Seatrium also entered into a deferred prosecution agreement relating to this case where the group may potentially be liable to pay US$57 million as a financial penalty.
For its 1Q 2024 business update, the engineering firm reported that its net order book stood at S$25.8 billion consisting of 31 projects with deliveries stretching till 2030.
In addition, management also established a S$100 million share buyback programme.
Mapletree Logistics Trust (SGX: M44U)
Mapletree Logistics Trust, or MLT, is an industrial REIT with a portfolio of 187 properties across eight countries with an AUM of S$13.2 billion as of 31 March 2024.
The logistics REIT’s unit price has slid 24% YTD and is close to its 52-week low of S$1.28.
For its fiscal 2024 (FY2024) ending 31 March 2024, gross revenue inched up 0.4% year on year to S$733.9 million while net property income stayed flat year on year at S$634.9 million.
DPU slipped slightly by 0.1% year on year to S$0.09003.
The manager of MLT warned that replacement loans and hedges to refinance its debt will be at significantly higher rates than existing ones.
The persistent weakness of regional currencies should also exert pressure on DPU.
MLT’s portfolio occupancy remained healthy at 96% and the REIT registered a positive rental reversion of 2.9% for its latest quarter.
MLT’s manager continues to be proactive in capital recycling.
Last month, the REIT divested a logistics warehouse in Xi’An and sold off 119 Neythal Road in Singapore.
Thai Beverage PLC (SGX: Y92)
Thai Beverage is Thailand’s largest beverage company with distilleries in Thailand, the UK, and China.
The group sells hard liquor under the Hong Thong and Ruang Khao brands as well as beer under the Chang brand.
Thai Beverage’s share price has steadily fallen to its 52-week low of S$0.43, and shares are down nearly 17% YTD.
The group reported a downbeat set of earnings for the first half of fiscal 2024 (1H FY2024).
Revenue dipped by 0.4% year on year to THB 147.7 billion.
Net profit fell by almost 5% year on year to THB 16.8 billion.
The beverage manufacturer generated a positive free cash flow of THB 14.3 billion for the half year.
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Disclosure: Royston Yang owns shares of Frasers Logistics & Commercial Trust.
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