<section>SINGAPORE - Shares of ST Engineering hit an all-time high last week after rising by 4.3 per cent to close on May 30 at $7.82.The company’s shares have been on a tear since the start of 2025, climbing more than 68 per cent on the back of record 2024 results and increased dividends over the period. It also reported a solid first quarter for 2025, driven by strong growth in its defence and public security segment. The strong share price performance came ahead of the weekend’s anticipated annual defence-focused Shangri-La Dialogue in Singapore.Addressing the audience at the dialogue on May 31, US Defence Secretary Pete Hegseth suggested that US allies and partners in Asia should take their cue from Europe, where members of the North Atlantic Treaty Organisation are committing to spend 5 per cent of their gross domestic product on defence. Shares of Singapore Exchange (SGX) climbed through the week to reach a high of $14.33 on May 30 before dropping abruptly by almost 2 per cent to close at $14.02. No announcements were made on the day.Trading activity on the exchange has increased in recent months, driven by market revival measures announced in February and growing investor interest in Singapore stocks as a safe haven amid global volatility.<div id="sph_cdp_10"></div>Almost 29.5 billion shares worth around $41 billion were traded in April, up from around 26.8 billion shares valued at $29.6 billion traded in March, according to SGX data. The average daily value of shares traded in April, at $1.9 billion, is the highest level since March 2020.<h2>Analysts pick potential winners ahead of $5 billion boost</h2>Trading on the SGX has included shares in companies outside the benchmark Straits Times Index (STI), supported by a central bank-led programme to allocate $5 billion in seed capital to Singapore-based funds for investing in local, non-STI stocks.Announced in February as part of the measures to revive the stock market, the Equity Market Development Programme (EQDP) has received positive interest from global fund managers, and suitable investment strategies will be shortlisted by end-September, the Monetary Authority of Singapore (MAS) said last week.Analysts reckon the funds will likely be deployed before the end of 2025 and have been highlighting stocks they believe could benefit from this bonanza.SIA Engineering is one of their favourites, with CGS CIMB, UOB KayHian, DBS and Morgan Stanley including the company in their list of stock picks. They like the company as demand for its aircraft maintenance, repairs and overhaul services is expected to grow. Systems assembly provider Frencken Group and property agency PropNex are also among the analysts’ top picks, owing to the companies’ strong revenue forecasts for 2025.Other selected stocks include instant coffee maker Food Empire, finance platform iFast, precision engineering business UMS Integration, supermarket chain Sheng Siong, Raffles Medical, technology solutions provider CSE Global, palm oil producer First Resources, transportation giant ComfortDelGro and construction firm Hong Leong Asia.</section>

ST Engineering's shares reached an all-time high of $7.82, rising 4.3% on May 30, driven by strong 2024 results and increased dividends. The company reported solid Q1 2025 growth in its defense and public security segments. Meanwhile, the Singapore Exchange saw increased trading activity, with 29.5 billion shares traded in April. The Monetary Authority of Singapore announced a $5 billion Equity Market Development Programme to boost local stocks, attracting global fund managers. Analysts have highlighted SIA Engineering, Frencken Group, and PropNex as potential winners from this initiative.

ST Engineering hits all-time high; stock picks roll in after MAS update on $5 billion equities boost