Blue chip stocks are known for their ability to maintain good performance during periods of market volatility.。In this article, we will focus on four blue chips in the Singapore stock market that offer both growth and dividend appeal.。

OCBC Bank

Overseas-Chinese Banking Corporation Limited (OCBC) is Singapore's second-largest bank, providing comprehensive banking, investment and insurance services to individuals and companies.。

The bank reported excellent results in its third quarter 2023 as rising interest rates boosted net interest income.。In the first nine months to 2023, total revenue increased 24% year-on-year to 10.2 billion Singapore dollars, of which net interest income increased 35% year-on-year to 7.2 billion Singapore dollars.。

Before provisions, operating profit rose 40 per cent year-on-year to S $6.3 billion, while net profit rose 32 per cent year-on-year to S $5.4 billion.。Net Interest Net Interest Margin (NIM) for the first nine months of 2023 reached 2.28%, much higher than the previous year's 1.78%。Fee income also reached its highest level in the past four quarters.。

OCBC CEO Wang Jingyi believes the bank is moving towards a flexible performance target for 2023, with a return on equity target of 14% and a net interest margin target of about 2.25%。The bank raised its interim dividend to zero last year..40 Singapore dollars, up from 0 paid a year ago.28 Singapore dollar nearly 43% higher。

OCBC expected to continue to grow its revenue as interest rates remain high。Last July, the bank launched the One Group strategy at a re-branding campaign, complete with a new logo and tagline.。With its new ASEAN and Greater China focus, OCBC expects to accelerate its growth and achieve additional revenue growth of S $3 billion in 2025, surpassing its current growth trajectory.。

Singapore Exchange

Singapore Exchange Limited ("SGX") is the only stock exchange operator in Singapore.。The group operates a platform for buying and selling various securities such as stocks, bonds, derivatives and currencies。

SGX reports solid results for its fiscal year 2023 ended June 30, 2023。Revenue increased by 8.7% to S $1.2 billion, net profit up 26% YoY.5%, reached 5.70.9 billion Singapore dollars。After deducting one-off and abnormal items, net profit will increase by 10.3% to 5.03.2 billion Singapore dollars。

In line with the good results, the exchange operator also raised its quarterly dividend per share to zero..085 Singapore dollars, compared to 0.08 Singapore Dollar。

In September 2023, SGX announced a new corporate structure designed to leverage its multiple asset strengths and enable organizations to grow across all aspects of their products and platforms.。The group's goals also include building a fully integrated and scalable platform to become a one-stop trading venue for international foreign exchange futures and OTC participants in Asia.。Over the medium term, SGX aims to achieve high single-digit revenue growth, as well as single-digit dividend per share growth。

Fengshu Logistics Trust

Mapletree Logistics Trust ("MLT") is an industrial property trust with a portfolio of 187 properties in 8 countries.。As at 31 December 2023, total assets under management were S $13.3 billion。

Despite resistance from higher interest rates, the logistics property trust posted admirable results。For the first nine months of fiscal 2024, MLT's total revenue increased slightly by 0% year-over-year..2% to 5.52.9 billion Singapore dollars。Property net income fell 0.2% to 4.79.6 billion Singapore dollars。However, the allotment per unit allotment increased by 0.7%, reached 0.06792 Singapore Dollar。The REIT's occupancy rate is close to 96% and reports 3.8% Rent Increase。

Logistics Property Trust May Have More Growth Opportunities。During the first nine months of fiscal 2024, MLT completed acquisitions of nine properties that will increase its per-unit allocation.。During the same period, it also sold eight properties in Malaysia, Japan and Singapore, all of which were priced above valuation.。

Singapore Technology Engineering

Singapore Technologies Engineering Ltd ("STE") is a group that provides engineering and technical services to customers in the aerospace, smart city, defense and public safety sectors.。

In its business update for the first nine months of 2023, STE reported a 12% year-over-year increase in revenue to S $7.3 billion.。In particular, revenue from the group's commercial aviation division rose 30% year-on-year to S $2.8 billion, following a surge in air travel.。STE secured new contracts totaling S $11.7 billion in the first nine months of 2023, and its order book reached S $27.5 billion as of September 30, 2023.。

The engineering giant has also invested in airframe repair hangars in Florida and Singapore, which will help further expand its capacity.。As of Q3 2023, the interim dividend per share was 0.04 Singapore dollars to raise annual dividend per share to 0.16 Singapore dollars。