Distinguished guests, ladies and gentlemen, good evening and welcome yet again to a night of celebration.
Our CEO Bernard Tong has regrettably gotten Covid and I’m making this speech on his behalf. Thank you all for joining us this evening. I’m aware there are probably more exciting things to pay attention to at this moment, such as the imminent return of US President Donald Trump.
Here in Singapore, we watch how American voters decide, and we adapt our businesses according to who they wish to put in the White House.
What we can do more meaningfully is to make our own economy stronger and resilient so that we can be ready for the ever-shifting external landscape. Any functioning economy and its capital markets go hand in hand.
Tonight, we are recognising many of our Singapore-listed companies playing critical roles in our economy.
For example, we have Singtel and StarHub CC3 , without which we can’t communicate. We have Singapore Airlines C6L and ComfortDelGro C52 , without which we can’t travel. And we have Keppel, whose absence will leave us with a big void in power and energy. And of course, we have DBS Group Holdings, the region’s largest bank that has gone from strength to strength.
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Besides these big caps, we are happy to have with us, too, key companies that are leaders in their respective industry niches. BRC Asia BEC , for example, is a leading steel supplier for all the gleaming buildings and kilometres of MRT system. We have Hafary 5VS Holdings whose peerless range of floor tiles and associated building materials help make what we call homes.
Over the past few months, the Singapore market has reached a level not seen for 16 years. Part of the growth was due to the prospects of rate cuts in the US. A bigger reason is the optimism that the Review Group formed by the authorities will come up with sound ways to make the Singapore market livelier.
However, the gains are not quite widespread and there are numerous sectors that have yet to receive rightful recognition from the investment community. Many companies are trading at not just low valuations; there are plenty of cases of share prices below book values.
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Nonetheless, there are some bright spots, where companies that have done well are recognised. For example, Bumitama Agri P8Z is a regular winner here at the BDC. Last year, when it was recognised, it was in the Centurion Club for companies with a market value below $1 billion. Later tonight, you will see Bumitama receiving more accolades in the Billion Dollar Club category — a truly well-deserved upgrade for a company that is steadfastly doing better.
We hope to work more closely with our ecosystem of partners and newsmakers to uncover more of such companies. As long as the various stakeholders of our market ecosystem can work more closely together, the investing public, whom we all ultimately serve, will be for the better. Do let me also reiterate what my CEO said this time last year: we see our humble effort in organising this annual BDC awards our way of doing so.
And of course, we can’t have this event without a big thank you to our sponsors, partners and friends of this market ecosystem. First, McLaren, a brand name that needs no recognition, a company with a reputation of excellence and daring, and a builder of what many considered to be the greatest supercar ever. Let’s hope with the 20,000 additional C-O-Es announced recently, there will be more McLaren Artura Spiders seen on the streets here.
Next, CIMB Bank Singapore — a key partner to have for any company with growth ambitions across this region. Look out for more activities when business and economic links between Singapore and Johor become closer.
Our knowledge partners: EY, for yet another year of partnership — not just for the BDC but also for having us as one of their official media partners of EY’s annual Entrepreneur of the Year awards.
Sustainalytics, a unit of Morningstar — a team of dedicated professionals steadfastly collecting and poring through sustainability-related data, without which we won’t be able to include the ESG [environmental, social and governance] component into the scores.
And last but not least, our exchange, SGX [Singapore Exchange] — a close working partner day in, day out, and for recognising our editorial team’s journalistic excellence at the annual Orb Awards. And, more critically, for buttressing our market ecosystem amid all the ups and downs. I’m sure we are all looking forward to more “ups” down the road.
I wish you all a pleasant evening.
Cowie Tan, chief marketing officer of The Edge Singapore
