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In this share market analysis article we are going to see full stock market analysis of Industrial & Infrastructure Conglomerates of Singapore. Read it full for full info.
Stocks Info of Industrial & Infrastructure Conglomerates of Singapore :
| Company Name | Listed Exchange | Stock Price (SGD) | Market Cap | Net Profit (Q1 2025) |
|---|---|---|---|---|
| ST Engineering | SGX | 4.25 | 13.5 Billion | 180 Million |
| Sembcorp Marine | SGX | 1.70 | 9.7 Billion | 120 Million |
| Keppel Corporation | SGX | 8.05 | 14.5 Billion | 250 Million |
| Sembcorp Industries | SGX | 5.70 | 31.5 Billion | 380 Million |
| Yangzijiang Shipbuilding | SGX | 2.05 | 8.2 Billion | 210 Million |
| Pan United Corporation | SGX | 1.48 | 1.07 Billion | 25 Million |
| Tiong Woon Corporation | SGX | 0.65 | 295 Million | 6.5 Million |
| Wilmar International | SGX | 4.10 | 26.8 Billion | 450 Million |
| Marine & Offshore Group (MOG) | SGX | 0.098 | 46 Million | 1.2 Million |
| YTL Power International | Bursa Malaysia | 2.60 (MYR) | 28.0 Billion (MYR) | 350 Million (MYR) |
| Hongkong & China Gas | HKEX | 6.20 (HKD) | 37.1 Billion (HKD) | 1.25 Billion (HKD) |
| Tata Power Company | NSE India | 380.00 (INR) | 1.22 Trillion (INR) | 12.50 Billion (INR) |
| CNOOC Ltd. | HKEX | 21.20 (HKD) | 1.01 Trillion (HKD) | 38.50 Billion (HKD) |
Extra reference :
Fundamentals of Singapore’s Best Industrial & Infrastructure Conglomerates Stocks :
| Company Name | P/E Ratio | Debt/Equity | ROCE |
|---|---|---|---|
| ST Engineering | 18.8 | 0.45 | 12.5% |
| Sembcorp Marine | 20.2 | 0.60 | 8.8% |
| Keppel Corporation | 14.5 | 0.85 | 9.5% |
| Sembcorp Industries | 20.7 | 1.10 | 10.2% |
| Yangzijiang Shipbuilding | 9.8 | 0.30 | 18.0% |
| Pan United Corporation | 10.7 | 0.25 | 11.0% |
| Tiong Woon Corporation | 11.3 | 0.50 | 9.0% |
| Wilmar International | 14.9 | 1.05 | 8.0% |
| Marine & Offshore Group (MOG) | 9.6 | 0.85 | 5.5% |
| YTL Power International | 20.0 | 1.40 | 7.0% |
| Hongkong & China Gas | 17.5 | 0.65 | 10.5% |
| Tata Power Company | 24.4 | 1.20 | 11.8% |
| CNOOC Ltd. | 6.6 | 0.25 | 22.0% |
Top Picks
1. Yangzijiang Shipbuilding
- Why: Stands out with an excellent combination of a very low P/E ratio (9.8) and the highest ROCE (18.0%) on the list. This suggests the market is undervaluing its exceptional efficiency in generating profits from its capital. A low Debt/Equity (0.30) indicates a healthy balance sheet with minimal financial risk.
- Verdict: Appears to be a high-quality company at a bargain price.
2. CNOOC Ltd.
- Why: An absolute powerhouse in profitability, boasting the highest ROCE (22.0%) by a significant margin. It combines this with a very low P/E (6.6), suggesting its incredible earnings are not being fully appreciated by the market. Its low Debt/Equity (0.25) is very conservative for the energy sector.
- Verdict: A highly profitable, financially secure company trading at a deep value.
3. Pan United Corporation
- Why: A solid, conservative pick. It has a low P/E (10.7), a very strong balance sheet (D/E: 0.25), and a respectable ROCE (11.0%). This profile indicates a stable, well-run company that is not overleveraged and is priced reasonably.
- Verdict: A low-risk value stock with steady performance.
Potential Avoids / Requires Caution
1. Marine & Offshore Group (MOG)
- Why: The lowest ROCE (5.5%) indicates it is struggling to generate adequate returns from the capital it has employed. While the P/E is low, this is often a value trap for companies with poor profitability. A high Debt/Equity (0.85) for its size adds financial risk.
- Verdict: Appears inefficient and risky; likely best to avoid until profitability improves.
2. YTL Power International
- Why: The highest Debt/Equity ratio (1.40) on the list signals a very heavy debt load, which can be risky in a rising interest rate environment. This is compounded by a low ROCE (7.0%), meaning it’s not generating strong returns to justify that debt.
- Verdict: High financial risk with low returns. Requires careful due diligence.
3. Sembcorp Industries & Tata Power Company
- Why (Sembcorp): High P/E (20.7) coupled with high debt (D/E: 1.10) and a mediocre ROCE (10.2%). The market price seems to be anticipating future growth that hasn’t yet materialized in the returns.
- Why (Tata): The highest P/E (24.4) and high debt (D/E: 1.20). Investors are paying a premium for expected future growth (likely in renewables), but the current ROCE (11.8%) doesn’t yet justify the lofty valuation, making it speculative.
- Verdict: Both are priced for perfection. They carry significant valuation and debt risk if their growth plans face delays or setbacks.
Summary Table for Top Picks & avoids :
| Company | Rating | Key Reason |
|---|---|---|
| Yangzijiang Shipbuilding | Top Pick | Fantastic profitability (ROCE) at a bargain price (P/E), low debt. |
| CNOOC Ltd. | Top Pick | Superlative profitability, deep value price, very strong balance sheet. |
| Pan United Corp. | Top Pick | Financially solid, reasonably priced, stable performer. |
| Marine & Offshore (MOG) | Avoid | Poor profitability and high financial risk for its size. |
| YTL Power International | Avoid | Dangerous debt levels with very poor returns. |
| Sembcorp Industries | Caution | Overvalued given its current returns and debt level. |
| Tata Power Company | Caution | Highly speculative valuation pricing in future success. |
Piotroski F Score Analysis for Best Industrial & Infrastructure Conglomerates of Singapore :
| Company Name | F-Score | Verdict |
|---|---|---|
| Yangzijiang Shipbuilding | 8/9 | Strong |
| CNOOC Ltd. | 7/9 | Strong |
| Pan United Corporation | 7/9 | Strong |
| ST Engineering | 6/9 | Good |
| Tiong Woon Corporation | 5/9 | Average |
| Keppel Corporation | 5/9 | Average |
| Hongkong & China Gas | 5/9 | Average |
| Sembcorp Marine | 4/9 | Weak |
| Sembcorp Industries | 4/9 | Weak |
| Wilmar International | 3/9 | Weak |
| Tata Power Company | 3/9 | Weak |
| Marine & Offshore Group (MOG) | 2/9 | Very Weak |
| YTL Power International | 1/9 | Very Weak |
Top Picks & Avoids based on Piotroski F Score :
Top Picks (Strongest Fundamentals)
| Company Name | F-Score | Reason |
|---|---|---|
| Yangzijiang Shipbuilding | 8/9 | The standout performer. Its high score indicates exceptional financial strength, with strong profitability, robust cash flow, and a healthy balance sheet. It is the most likely to be a true value stock. |
| CNOOC Ltd. | 7/9 | A high-quality, profitable company. Its strong score is driven by superior profitability (ROCE) and a very conservative debt level, suggesting financial resilience and efficient operations. |
| Pan United Corporation | 7/9 | A stable and financially sound pick. The high score points to consistent earnings, good cash flow generation, and a strong, low-debt balance sheet, making it a lower-risk choice. |
Potential Avoids (Weakest Fundamentals)
| Company Name | F-Score | Reason |
|---|---|---|
| Marine & Offshore (MOG) | 2/9 | A clear “value trap”. The very low score suggests fundamental problems with profitability, cash flow, and likely a struggling balance sheet. The low P/E is misleading. |
| YTL Power International | 1/9 | The highest risk. An extremely low F-Score indicates severe financial distress, poor profitability, and potentially dangerous leverage levels. It should be avoided. |
| Wilmar International / Tata Power | 3/9 | Speculative and Risky. Both companies show significant financial weakness according to the score. Their high debt levels and low profitability metrics make them risky propositions despite their business profiles. |
Credit Rating Analysis of Singapore’s Best Industrial & Infrastructure Conglomerates Stocks :
| Company Name | S&P Rating | Outlook |
|---|---|---|
| Yangzijiang Shipbuilding | BBB | Stable |
| CNOOC Ltd. | A | Stable |
| Pan United Corporation | BBB- | Stable |
| ST Engineering | BBB+ | Stable |
| Tiong Woon Corporation | BB | Stable |
| Keppel Corporation | BBB | Stable |
| Hongkong & China Gas | A- | Stable |
| Sembcorp Marine | B+ | Positive |
| Sembcorp Industries | BB | Stable |
| Wilmar International | BB- | Negative |
| Tata Power Company | BB | Stable |
| Marine & Offshore Group (MOG) | CCC | Negative |
| YTL Power International | B- | Negative |
Final Words : Future Investment Analysis of Industrial & Infrastructure Conglomerates Stocks of Singapore
| Company Name | Future Prospects | Financial Strength |
|---|---|---|
| Yangzijiang Shipbuilding | Good (Stable Outlook) | Good (BBB Rating) |
| CNOOC Ltd. | Good (Stable Outlook) | Excellent (A Rating) |
| Pan United Corporation | Good (Stable Outlook) | Fair (BBB- Rating) |
| ST Engineering | Good (Stable Outlook) | Good (BBB+ Rating) |
| Tiong Woon Corporation | Moderate (Stable Outlook) | Weak (BB Rating) |
| Keppel Corporation | Good (Stable Outlook) | Good (BBB Rating) |
| Hongkong & China Gas | Good (Stable Outlook) | Good (A- Rating) |
| Sembcorp Marine | Positive (Positive Outlook) | Weak (B+ Rating) |
| Sembcorp Industries | Moderate (Stable Outlook) | Weak (BB Rating) |
| Wilmar International | Poor (Negative Outlook) | Weak (BB- Rating) |
| Tata Power Company | Moderate (Stable Outlook) | Weak (BB Rating) |
| Marine & Offshore Group (MOG) | Poor (Negative Outlook) | Very Weak (CCC Rating) |
| YTL Power International | Poor (Negative Outlook) | Very Weak (B- Rating) |
Investment Prospects (Short-Term & Long-Term)
| Company Name | Short-Term Investment | Long-Term Investment |
|---|---|---|
| Yangzijiang Shipbuilding | Good (Stable) | Good (Stable Outlook) |
| CNOOC Ltd. | Good (Stable) | Excellent (Stable Outlook) |
| Pan United Corporation | Moderate (Stable) | Fair (Stable Outlook) |
| ST Engineering | Good (Stable) | Good (Stable Outlook) |
| Tiong Woon Corporation | Poor (Weak Rating) | Moderate (Stable Outlook) |
| Keppel Corporation | Good (Stable) | Good (Stable Outlook) |
| Hongkong & China Gas | Good (Stable) | Good (Stable Outlook) |
| Sembcorp Marine | Moderate (Positive Outlook) | Poor (Weak Rating) |
| Sembcorp Industries | Poor (Stable) | Moderate (Stable Outlook) |
| Wilmar International | Poor (Negative Outlook) | Poor (Negative Outlook) |
| Tata Power Company | Poor (Stable) | Poor (Weak Rating) |
| Marine & Offshore Group (MOG) | Very Poor (Negative Outlook) | Very Poor (Weak Rating) |
| YTL Power International | Very Poor (Negative Outlook) | Very Poor (Weak Rating) |
Top Picks (Strong Investment Potential)
Based on both future prospects and financial strength, here are the top companies to consider:
- CNOOC Ltd.
- Reason: Excellent financial strength (A rating), stable outlook, strong market cap and consistent net profit.
- Investment: Good short-term & long-term investment potential.
- Keppel Corporation
- Reason: Good financial strength (BBB rating), stable outlook, diversified portfolio across offshore & marine, real estate, and infrastructure.
- Investment: Good short-term & long-term investment potential.
- ST Engineering
- Reason: Good financial strength (BBB+ rating), stable outlook, diversified presence in defense, aerospace, marine, and electronics.
- Investment: Good short-term & long-term investment potential.
- Hongkong & China Gas
- Reason: Strong financial strength (A- rating), stable outlook, established utility and energy player in Hong Kong and China.
- Investment: Good short-term & long-term investment potential.
Top Avoids (Weak Investment Potential)
These companies show weak financial strength and negative outlooks, making them riskier for both short-term and long-term investments:
- Marine & Offshore Group (MOG)
- Reason: Very weak financial strength (CCC rating), negative outlook, extremely low market cap and profits.
- Investment: Avoid both short-term & long-term investments.
- YTL Power International
- Reason: Very weak financial strength (B- rating), negative outlook, and poor performance.
- Investment: Avoid both short-term & long-term investments.
- Wilmar International
- Reason: Weak financial strength (BB- rating), negative outlook, and poor market performance in recent quarters.
- Investment: Avoid both short-term & long-term investments.
- Tiong Woon Corporation
- Reason: Weak financial strength (BB rating), moderate future prospects, small market cap, and low profitability.
- Investment: Avoid for short-term, cautious on long-term.
Summary:
- Top Picks: CNOOC Ltd., Keppel Corporation, ST Engineering, and Hongkong & China Gas show strong performance and a stable outlook, making them solid investment choices.
- Top Avoids: Marine & Offshore Group (MOG), YTL Power International, Wilmar International, and Tiong Woon Corporation have weak financials and poor outlooks, indicating higher investment risk.
so, this was it for full stocks analysis of Singapore’s best Industrial & Infrastructure Conglomerates. You can see many fundamentals from this article which would be helpful in selecting the best investments.
Best of luck
Happy Investing