Private Wealth Management and Asset Management., FPA Financial

FPA Financial

Private Wealth Management and Asset Management.

FPA Financial is an independent and boutique financial firm specializing in private wealth management and asset management.

Thematic (Sector/Industry)

<ul><li>Palm oil is an edible oil with a variety of uses, including in food, consumer products, and as biodiesel feedstock.</li><li>One growing use is biodiesel, with Indonesian domestic consumption of palm oil for biodiesel exceeding that for food in around June 2023.</li><li>Accordingly, Crude Palm Oil (“CPO”) prices have been showing some correlation with crude oil prices, such that the recent rise in crude oil prices amid the ongoing U.S.-Israeli war against Iran may have raised CPO prices.</li></ul>

Palm oil is an edible oil with a variety of uses, including in food, consumer products, and as biodiesel feedstock.One growing use is biodiesel, with Indonesian domestic consumption of palm oil for biodiesel exceeding that for food in around June 2023.Accordingly, Crude Palm Oil (“CPO”) prices have been showing some correlation with crude oil prices, such that the recent rise in crude oil prices amid the ongoing U.S.-Israeli war against Iran may have raised CPO prices.

GROW with Singlife, Navigator Investment Services

GROW with Singlife

Navigator Investment Services

We’ve made it our mission to enable advisers to partner with clients to make more considered choices, across their entire financial life journey. Together, we’re building an industry where financial advisers do better.

<ul><li>Food consumption in Singapore remains broadly non-cyclical, anchored by steady household demand across income segments. This defensive earnings base is now complemented by structural growth drivers.</li><li>Policy support remains central to the sector’s evolution. Initiatives such as the Singapore Food Story 2, the Green Plan 2030, and AgriFood Cluster Transformation Fund are fostering investment in local production, food innovation, and ESG adoption.</li><li>Singapore’s F&amp;B brands are leveraging their reputation for quality, safety, and design-led branding to penetrate fast-growing ASEAN markets.</li></ul>

Food consumption in Singapore remains broadly non-cyclical, anchored by steady household demand across income segments. This defensive earnings base is now complemented by structural growth drivers.Policy support remains central to the sector’s evolution. Initiatives such as the Singapore Food Story 2, the Green Plan 2030, and AgriFood Cluster Transformation Fund are fostering investment in local production, food innovation, and ESG adoption.Singapore’s F&amp;B brands are leveraging their reputation for quality, safety, and design-led branding to penetrate fast-growing ASEAN markets.

Beyond the Plate: Food & Beverage Sector in Singapore

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

<ul><li>Singapore's top 10 non-cyclical consumer stocks averaged a 26.7% YTD return, driven by firm CPO prices and retail demand.</li><li>First Resources and Bumitama Agri led performance, with YTD returns of 116.7% and 59.5%, supported by biodiesel mandates.</li><li>Wilmar International reported a 12.8% increase in pre-tax profit for 1H2026, with S$276.7 million net institutional inflows.</li></ul>

Singapore's top 10 non-cyclical consumer stocks averaged a 26.7% YTD return, driven by firm CPO prices and retail demand.First Resources and Bumitama Agri led performance, with YTD returns of 116.7% and 59.5%, supported by biodiesel mandates.Wilmar International reported a 12.8% increase in pre-tax profit for 1H2026, with S$276.7 million net institutional inflows.

Sector Sweep - Defensive Consumer Stocks Deliver Robust Performance Amid Strong  Institutional Inflows 

<ul><li>STI constituents are expected to deliver around 10% earnings growth in their current FYs, with similar growth implied for the following FY.</li><li>Retail flows concentrated in DBS, Singapore Telecommunications, CapitaLand Ascendas REIT, Genting Singapore, and Sembcorp Industries, with OCBC recording both net institutional and retail inflows.</li><li>SATS reported FY26 EPS of 19.2 cents, with current consensus forecast for FY27F EPS at 21.825 cents, illustrating evolving earnings expectations.</li></ul>

STI constituents are expected to deliver around 10% earnings growth in their current FYs, with similar growth implied for the following FY.Retail flows concentrated in DBS, Singapore Telecommunications, CapitaLand Ascendas REIT, Genting Singapore, and Sembcorp Industries, with OCBC recording both net institutional and retail inflows.SATS reported FY26 EPS of 19.2 cents, with current consensus forecast for FY27F EPS at 21.825 cents, illustrating evolving earnings expectations.

STI Hits Record as Focus Shifts to Earnings

Yangzijiang Shipbuilding / Equity Bottom-Up

<ul><li>In 1Q26, STI ETFs recorded 13 consecutive months of net inflows, totaling S$981 million, with AUM reaching S$4.2 billion.</li><li>Share buybacks in Singapore reached approximately S$560 million in 1Q26, led by Singtel's S$2 billion programme.</li><li>The SMID segment attracted close to S$470 million net institutional inflow in 1Q26, with combined ADT nearing S$670 million.</li></ul>

In 1Q26, STI ETFs recorded 13 consecutive months of net inflows, totaling S$981 million, with AUM reaching S$4.2 billion.Share buybacks in Singapore reached approximately S$560 million in 1Q26, led by Singtel's S$2 billion programme.The SMID segment attracted close to S$470 million net institutional inflow in 1Q26, with combined ADT nearing S$670 million.

Singapore

Wilmar International is Asia's leading agribusiness group, operating an integrated model across the agricultural commodity business. Its activities include oil palm cultivation, oilseed crushing, edible oils refining, flour and rice milling, sugar milling and refining, and manufacturing of consumer products, specialty fats, oleochemicals, biodiesel, and fertilizers. The company was founded in 1991 and is headquartered in Singapore.

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Wilmar International (WIL SP)

Palm Oil Sector Report (21 August 2026)

Palm oil is an edible oil with a variety of uses, including in food, consumer products, and as biodiesel feedstock. One growing use is biodiesel,...

FPA Financial

Beyond the Plate: Food & Beverage Sector in Singapore

With rising ESG standards and innovation-driven competitiveness, Singapore’s F&B sector stands out as a resilient and underappreciated growth story...

GROW with Singlife

Sector Sweep - Defensive Consumer Stocks Deliver Robust Performance Amid Strong Institutional Inflows

Singapore's top 10 non-cyclical consumer stocks averaged a 26.7% YTD return, driven by firm CPO prices and retail demand. First Resources and...

Singapore Exchange Ltd (SGX)

STI Hits Record as Focus Shifts to Earnings

STI constituents are expected to deliver around 10% earnings growth in their current FYs, with similar growth implied for the following FY. Retail...

Singapore Exchange Ltd (SGX)

STI Books 5.6% Total Return in 1Q26

In 1Q26, STI ETFs recorded 13 consecutive months of net inflows, totaling S$981 million, with AUM reaching S$4.2 billion. Share buybacks in...

Singapore Exchange Ltd (SGX)

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