Best Defensive Stocks to Watch in Singapore

Footnotes

_{¹ Dividend yield data sourced from Singapore Exchange (SGX) market data, May 2025.}

_{² https://sginvestors.io/analysts/research/2025/01/singtel-uob-kay-hian-research-2025-01-21}

_{³ https://www.iras.gov.sg/taxes/individual-income-tax/basics-of-individual-income-tax/what-is-taxable-what-is-not/dividends}

_{⁴ Based on SGX sector performance data during the April 2025 market correction following US tariff announcements, when the STI declined 10.7% while defensive sectors showed significantly less volatility. Source: Reuters, “Singapore’s high-yield stocks gain from tariff-induced flight to safety,” April 24, 2025.}

_{⁵ Historical performance analysis of Singapore market sectors during 2020-2025 economic cycles, as documented by DBS Research in their “Singapore Equity Picks” report, April 2025.}

_{⁶ Beta values calculated based on 3-year correlation with Straits Times Index (STI), as reported in DBS Stock Pulse, April 8, 2025.}

_{⁷ The following information is correct as of 7 May 2025}

_{⁸ Correct as of 26 May 2025}

_{⁹ Singtel Q3 FY2025 Financial Results, released February 2025.}

_{¹⁰ DBS “Safest Bank in Asia” recognition by Global Finance for 16 consecutive years (2009-2024), as announced in DBS press release, October 18, 2024.}

_{¹¹ Correct as of 1 April 2025}

_{¹² DBS “Safest Bank in Asia” recognition by Global Finance for 16 consecutive years (2009-2024), as announced in DBS press release, October 18, 2024.}

_{¹³ Correct as of 25 April 2025}

_{¹⁴ Wilmar International’s 12.1% per annum growth forecast from SimplyWall.st analyst consensus, May 2025, based on data from 12 analysts covering the company.}

_{¹⁵ Correct as of 26 May 2025}

_{¹⁶ Sembcorp Industries FY2024 Annual Report and the “Weekly Market Review with SIAS” by Growbeansprout.com, April 1, 2025, which confirms the 17GW renewable energy capacity.}

_{¹⁷ Correct as of 23 May 2025}

_{¹⁸ Raffles Medical Group performance data and regional expansion announcements, Q1 2025.}