Singapore’s stock market is buzzing with energy as we look to 2025. The city’s trading floors echo with hope and ambition, riding a wave that’s lifted the STI by over 11% this year alone. Investors are watching the numbers climb, but they’re also searching for stories — small stocks with big dreams.
Step into the world of penny stocks, where companies like ComfortDelGro, StarHub, and Sheng Siong are writing their own success stories. ComfortDelGro’s buses and trains carry not just people, but steady growth — revenue is up 15%, and its price still looks fair. StarHub beams confidence, posting rising profits and proving that even in a crowded field, it can shine brighter.
Sheng Siong fills homes with food and hearts with trust, growing strong as new stores open across the island. Each of these companies has its own path, its own pace, and its own promise. AEM Holdings, though facing bumps along the way, is poised for a comeback — a chance for patient investors to catch the turn.
These are not just stocks; they are journeys. If you crave stability, consider the steady hands of ComfortDelGro or Sheng Siong. If adventure calls, look to the likes of AEM or CSE Global. The choice is yours — each name on this list could be your ticket to Singapore’s next chapter of growth.
This is your moment to dream bigger and invest smarter. The future belongs to those who dare to ride the wave.
Market Context:
- The market is trading at a PE ratio of 15.6x which is higher than its 3-year average PE of 13.7x Singaporean (SGX) Market Analysis & Valuation – Updated Today
- Year-to-date (YTD), the STI has delivered a commendable performance by rising 11.3% 4 Singapore Blue-Chip Stocks Lagging the Straits Times Index: Can They Play Catch-Up? – TheFinance.sg
- As of 4 July 2025, we’ve identified 8 such stocks—down from 11 last month—reflecting the bullish market sentiment 8 undervalued stocks in Singapore (Jul 2025) | Dr Wealth
Updated Financial Performance:
- ComfortDelGro: Revenue: S$4.48b (up 15% from FY 2023) ComfortDelGro Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags with PE ratio based on its reported earnings over the past 12 months is 14.23 Comfortdelgro Share Price – SGX:C52 Stock Research | Stockopedia
- StarHub: 2024 service revenue growth of 3.9% and net profit growth of 7.7% StarHub Ltd (CC3) with trailing 12-month revenue of $1.77B StarHub 2025 Company Profile: Stock Performance & Earnings | PitchBook
- Sheng Siong: Revenue for the group grew 4.5% y-o-y driven by the opening of six new stores Sheng Siong Group reports earnings of $137.5 mil for FY2024, up 2.9% y-o-y with strong performance metrics
- AEM Holdings: Facing challenges with 3Q24 revenue of SGD74.2mn (-6.5% q/q, -33.6% y/y) AEM Holdings Ltd: Still on course for earnings turnaround in FY25 despite timing shifts but positioned for recovery
The analysis provides detailed stock profiles with current financial metrics, investment thesis for each company, risk factors, and strategic recommendations. Each stock represents different risk-return profiles, from defensive plays like ComfortDelGro and Sheng Siong to more volatile growth opportunities in CSE Global and AEM Holdings.
Singapore Penny Stocks 2025 Outlook Analysis
Market Context for 2025
The Singapore equity market outlook for 2025 presents a nuanced picture with both opportunities and challenges. The broader market context shows that DBS projects the STI’s overall earnings growth will slow from 12.4% in 2024 to 3.4% in 2025, with the banking sector—a major index component—expected to see flat earnings growth. This deceleration reflects a maturing economic cycle but also creates opportunities for selective stock picking in the penny stock segment.
Economic fundamentals remain supportive: GDP growth forecast is maintained at 2.4% for 2025, with NODX growth at 1%. Electronics demand remains strong, providing a favorable backdrop for technology and industrial stocks. The service economy, represented by financial services and transportation, will continue to contain key sectors for growth.
Individual Stock Outlook Analysis
1. ComfortDelGro Corporation (C52) – POSITIVE OUTLOOK
Short-term Prospects (6-12 months)
Rating: DEFENSIVE GROWTH
ComfortDelGro shows strong momentum with robust fundamentals supporting continued growth. The company is forecast to grow earnings and revenue by 9.7% and 4.9% per annum respectively, with EPS expected to grow by 9.7% per annum. Return on equity is forecast to be 10.2% in 3 years.
Key Catalysts:
- Recovery in business travel and tourism sectors post-pandemic
- Market-leading position in essential transport services
- Geographic diversification across 13 countries reducing single-market risk
- Defensive characteristics providing stability during economic uncertainty
Long-term Outlook (2-3 years)
The transport sector benefits from Singapore’s recovery and continued infrastructure development. ComfortDelGro’s diversified international presence and essential service nature position it well for sustained growth.
Investment Verdict: Strong defensive play with steady dividend income and moderate capital appreciation potential.
2. Sheng Siong Group (OV8) – VERY POSITIVE OUTLOOK
Short-term Prospects (6-12 months)
Rating: AGGRESSIVE GROWTH
Sheng Siong presents the most compelling near-term outlook among the penny stocks analyzed. The company is ramping up its expansion strategy, targeting up to 10 new store openings in FY25—its highest since 2018. This aggressive growth comes after securing six new outlets in addition to two already launched in 1Q25.
Key Growth Drivers:
- Aggressive store expansion with up to 10 new openings in 2025
- “We expect the higher store count from new outlets to continue driving Sheng Siong’s earnings growth going forward”
- Four HDB tender sites and two private mall locations secured
- Strong defensive consumer staples business model
Long-term Outlook (2-3 years)
The grocery retail sector in Singapore offers limited but stable growth opportunities. Sheng Siong’s market-leading position and successful expansion strategy position it for continued outperformance.
Investment Verdict: Top pick for growth within defensive retail sector. Strong execution track record supports premium valuation.
3. CSE Global (544) – MODERATELY POSITIVE OUTLOOK
Short-term Prospects (6-12 months)
Rating: CYCLICAL RECOVERY
CSE Global benefits from infrastructure modernization trends and data center expansion globally. The company’s strong order book of S$673 million provides revenue visibility, while the 63.2% net profit growth in 2024 demonstrates operational leverage.
Key Opportunities:
- Growing data center infrastructure demand
- Electrification and automation solution trends
- Strong order book providing revenue predictability
- Beneficiary of digitalization investments
Long-term Outlook (2-3 years)
The infrastructure and data center markets offer substantial long-term growth potential. However, project-based revenue creates inherent volatility that requires careful monitoring.
Investment Verdict: Cyclical play with good upside potential but requires timing and risk management.
4. AEM Holdings (AWX) – CAUTIOUS OUTLOOK
Short-term Prospects (6-12 months)
Rating: RECOVERY PLAY WITH UNCERTAINTY
AEM Holdings faces near-term headwinds with Q3 2024 revenue declining 33.6% year-over-year. However, the company is positioned for semiconductor cycle recovery with exposure to AI hardware supply chains.
Challenges and Opportunities:
- Semiconductor cycle volatility continues to pressure near-term results
- AI hardware demand provides long-term structural growth opportunity
- Customer concentration risk creates earnings volatility
- Recovery timing remains uncertain
Long-term Outlook (2-3 years)
The semiconductor equipment sector offers significant upside potential during recovery cycles. AEM’s technological capabilities and customer relationships position it well for eventual rebound.
Investment Verdict: High-risk, high-reward play suitable only for risk-tolerant investors with strong conviction on semiconductor recovery timing.
5. StarHub (CC3) – MIXED OUTLOOK
Short-term Prospects (6-12 months)
Rating: CHALLENGED GROWTH
StarHub faces the most challenging outlook among the analyzed stocks. The company delivered mixed 2024 results with service revenue growth of 3.9% and net profit growth of 7.7%, but dividend concerns and competitive pressures weigh on sentiment.
Key Concerns:
- Intense competition in saturated telecom market
- Regulatory pressure on pricing and margins
- High capital expenditure requirements for 5G network upgrades
- Mixed analyst sentiment with some downgrades to Hold ratings
Long-term Outlook (2-3 years)
The telecommunications sector in Singapore faces structural headwinds from market saturation and regulatory pressures. 5G rollout provides some growth opportunities but requires significant capital investment.
Investment Verdict: Requires careful evaluation. Suitable only for investors seeking telecom exposure with understanding of sector challenges.
Strategic Investment Framework
Tier 1: Core Defensive Positions (40-50% allocation)
- Sheng Siong Group: Top pick for aggressive growth within defensive retail
- ComfortDelGro: Steady defensive play with reliable dividends
Tier 2: Cyclical Growth Opportunities (25-35% allocation)
- CSE Global: Infrastructure and data center beneficiary
Tier 3: Speculative Recovery Plays (10-20% allocation)
- AEM Holdings: Semiconductor cycle recovery play
- StarHub: Telecom exposure with dividend potential
Risk Management Considerations
Market-Level Risks
- Slowing earnings growth: STI earnings growth expected to decelerate from 12.4% to 3.4%
- Interest rate environment: Higher rates impact penny stock valuations disproportionately
- Economic uncertainty: Global economic headwinds affecting sentiment
Stock-Specific Risk Mitigation
- Position Sizing: Maximum 2% per individual penny stock
- Diversification: Spread across defensive and growth categories
- Stop Losses: Implement for speculative positions (AEM, StarHub)
- Regular Review: Quarterly assessment of fundamental changes
2025 Investment Strategy Recommendations
Q3-Q4 2025 Tactical Approach
- Overweight: Sheng Siong and ComfortDelGro for defensive growth
- Selective: CSE Global on infrastructure themes
- Underweight: AEM Holdings until semiconductor recovery clarity
- Avoid: StarHub until competitive dynamics improve
Key Monitoring Points
- Sheng Siong: Store opening execution and same-store sales growth
- ComfortDelGro: International expansion success and margin improvement
- CSE Global: Order book conversion and margin expansion
- AEM Holdings: Semiconductor cycle indicators and customer order patterns
- StarHub: 5G monetization progress and competitive positioning
Conclusion
The Singapore penny stock market in 2025 offers a bifurcated opportunity set. Defensive plays like Sheng Siong and ComfortDelGro provide attractive risk-adjusted returns with steady income streams. Growth opportunities exist in CSE Global for infrastructure exposure, while AEM Holdings represents higher-risk semiconductor cycle exposure.
Success requires disciplined stock selection, proper position sizing, and active portfolio management. The market environment favors quality companies with strong fundamentals over purely speculative plays.
The Penny Stock Whisperer
Chapter 1: The Marina Bay Morning
The first rays of sunlight painted Marina Bay Sands in shades of gold as Sarah Chen adjusted her trading monitors in the 42nd-floor office overlooking the Singapore River. At 6:30 AM, the Singapore Exchange was still two hours from opening, but Sarah’s day had already begun with her ritual review of overnight global markets.
“Another volatile night in the semis,” she muttered, watching AEM Holdings’ ADR price fluctuate in after-hours trading. As the head of small-cap research at Meridian Capital, Sarah had earned a reputation as Singapore’s “Penny Stock Whisperer” – a title she both embraced and found slightly embarrassing.
Her phone buzzed. A text from her mentor, the legendary investor Uncle Lim: “Sarah, my niece wants to invest her ang bao money in penny stocks. Can you teach her? She thinks it’s easy money.”
Sarah sighed. If she had a dollar for every time someone thought penny stock trading was a get-rich-quick scheme, she could retire to Sentosa. But Uncle Lim had given her her first break fifteen years ago, fresh out of NUS with an economics degree and dreams bigger than her bank account.
“Bring her by the office,” she texted back. “Time for some education.”
Chapter 2: The Student Arrives
At 10 AM, Uncle Lim arrived with his niece, Jessica – a 25-year-old marketing executive with designer handbag and smartphone in hand, her fingers already dancing across a trading app screen.
“Auntie Sarah!” Jessica beamed. “Uncle Lim says you’re the best penny stock trader in Singapore. I’ve already downloaded three trading apps and I’m ready to make some money!”
Sarah noticed Jessica’s screen showed a watchlist of speculative stocks priced under 50 cents – the typical beginner’s approach of equating cheap prices with good value.
“Jessica, before we start, tell me what you know about the companies on your watchlist.”
“Well, they’re cheap, so there’s more upside potential, right? And look – this one went up 30% yesterday!”
Sarah walked to her whiteboard, where she had written the five penny stocks from her latest research report. “Let me tell you a story about the market, Jessica. It’s not about cheap or expensive – it’s about understanding what you’re buying.”
Chapter 3: The Lesson of ComfortDelGro
“See this company, ComfortDelGro?” Sarah pointed to the C52 ticker. “Trading at $1.42. Your apps might not even flag it as a ‘penny stock’ because it’s above a dollar. But this is what we call a quality play.”
Sarah pulled up a chart on her main monitor. “ComfortDelGro operates in 13 countries. They own the taxis you take, the buses you ride. When COVID hit, everyone thought transport stocks were dead. The stock fell from $2.50 to under $1.00.”
“So you bought it when it was really cheap?” Jessica asked, leaning forward.
“Not immediately. I waited. I studied their balance sheet, their international operations, their debt levels. Then, when the borders reopened and I could see ridership recovering, I started accumulating. Not with one big purchase, but slowly, over months.”
Sarah highlighted the technical chart. “Look at this pattern. Support at $1.40, resistance at $1.48. When I buy, I buy near support. When it hits resistance, I might take some profits. This isn’t gambling, Jessica – it’s calculated risk-taking.”
“But it’s boring,” Jessica protested. “It only went up 6.7% this year.”
“Plus a 5.4% dividend yield,” Sarah added with a smile. “That’s 12.1% total return with relatively low risk. Your bank account gives you what, 0.1%?”
Chapter 4: The Growth Story
“Now, if you want growth,” Sarah continued, “let me tell you about CSE Global.”
She clicked to a new chart showing CSE’s dramatic recovery from 39 cents to 48 cents. “This company builds the infrastructure that powers our digital world – data centers, automation systems. When I first researched them at 42 cents, they had just reported a 63% increase in net profit.”
“That sounds better!” Jessica’s eyes lit up.
“But here’s the thing – I didn’t put my largest position here. You know why?”
Jessica shook her head.
“Because growth comes with risk. CSE’s business is project-based. One quarter they might win a huge data center contract, the next quarter might be quiet. Their weekly volatility is 5% – that means the stock can swing up or down 5% in a single week.”
Sarah opened her position sizing spreadsheet. “So I allocated 3% of my portfolio to CSE, versus 7% to ComfortDelGro. Same expected return potential, but I risk less on the volatile one.”
Chapter 5: The Cautionary Tale
“And now,” Sarah’s voice grew serious, “let me tell you about the dangers of chasing the shiny object.”
She clicked to AEM Holdings’ chart, showing its dramatic fall from over $3 to $1.24. “AEM makes semiconductor testing equipment. Very sophisticated stuff. During the AI boom in 2023, everyone wanted a piece of the action. The stock flew to $4.”
“What happened?” Uncle Lim asked, though Sarah suspected he already knew.
“The semiconductor cycle turned. Customer orders dried up. Revenue fell 33% year-over-year. Anyone who bought at the top thinking it was a ‘cheap’ penny stock at $2 lost half their money.”
Jessica’s trading app enthusiasm seemed to dim. “So how do you avoid that?”
“You don’t always avoid it,” Sarah admitted. “I lost money on AEM too. But I limited my position size, and I had a stop-loss. When the stock broke below $2, I sold. I lost 20% on that position, but it was only 2% of my portfolio, so my total loss was 0.4%.”
Chapter 6: The Defensive Champion
“But my best performer this year?” Sarah smiled, clicking to Sheng Siong’s chart. “The humble supermarket.”
The chart showed a steady climb from $1.60 to $2.01. “While everyone was chasing AI stocks and cryptocurrency, I was buying grocery stores. Boring, right?”
“Very boring,” Jessica confirmed.
“Boring made me 25.5% this year. Plus a 3.4% dividend. You know why Sheng Siong works as an investment?”
“Because people always need groceries?” Jessica ventured.
“Exactly. And they’re opening 10 new stores this year – their most aggressive expansion since 2018. Same-store sales are growing. They have pricing power. When inflation hits, grocery stores can pass on costs to consumers. It’s defensive, but it’s also growing.”
Sarah highlighted her portfolio allocation. “This is my largest position – 8% of my portfolio. High conviction, lower risk.”
Chapter 7: The Reality Check
“Now Jessica, let me show you what most people don’t want to see.”
Sarah opened a spreadsheet labeled “2024 Trading Results.”
“I made 23% returns this year, beating the STI index by 12%. Sounds impressive, right?”
Jessica nodded enthusiastically.
“But look at this column – ‘Losing Trades.’ I was wrong 43% of the time. Almost half my trades lost money.”
The room fell silent.
“The difference between me and the person who loses money in penny stocks isn’t that I’m always right. It’s that when I’m wrong, I lose small amounts. When I’m right, I make larger amounts. And I’m patient.”
Sarah pointed to another column. “My average holding period is 8.7 months. I’m not day-trading. I’m not chasing momentum. I buy good companies at reasonable prices and wait for the market to recognize their value.”
Chapter 8: The Portfolio Construction
“Let me show you how I actually build a penny stock portfolio,” Sarah said, opening her risk management dashboard.
“Rule number one: Never more than 2% in any single penny stock position. Rule number two: Total penny stock allocation never exceeds 20% of my portfolio.”
She showed her current allocation:
- ComfortDelGro: 7% (defensive)
- Sheng Siong: 8% (defensive growth)
- CSE Global: 3% (cyclical growth)
- AEM Holdings: 1.5% (speculative)
- StarHub: 0% (avoided due to competitive concerns)
“But Auntie, this doesn’t look like a penny stock portfolio,” Jessica observed. “It looks like… a regular portfolio with some smaller companies.”
“Exactly!” Sarah exclaimed. “That’s the secret. Penny stocks aren’t a separate asset class that follows different rules. They’re just smaller companies that require more research, more risk management, and more patience.”
Chapter 9: The Market Lesson
At 2 PM, Sarah’s screens flashed red. The STI had dropped 1.2% on concerns about global economic growth.
“Watch this,” Sarah told Jessica, pointing to her positions.
ComfortDelGro dropped to $1.38 – below her support level. CSE Global fell 4% on the day. AEM Holdings plunged 8%.
“Are you going to sell?” Jessica asked nervously.
“CSE and AEM, maybe. But look at ComfortDelGro – I’m actually buying more. The company didn’t change. Their buses are still running. Their earnings didn’t suddenly disappear. The market is just being emotional.”
Sarah placed an order for another 1,000 shares at $1.38.
“This is what separates investors from traders, Jessica. When you know a company intimately, market volatility becomes opportunity, not panic.”
Chapter 10: The Hard Truth
As the trading day ended, Sarah turned to Jessica and Uncle Lim.
“Jessica, I’m going to tell you something that no trading guru on YouTube will say: most people should not trade penny stocks.”
Jessica looked disappointed.
“The statistics are brutal. Studies show that 80% of day traders lose money. The smaller and more volatile the stocks, the worse the odds become. The house edge in penny stock trading is higher than in a casino.”
“So why do you do it?” Jessica asked.
“Because I’ve spent 15 years learning how to tilt the odds in my favor. I have access to institutional research, direct management access, sophisticated risk management tools. I treat it like a profession, not a hobby.”
Sarah leaned back in her chair. “If you want to invest in these companies, Jessica, buy them through a broad-based ETF or mutual fund. Let professionals like me take the stock-specific risks.”
Chapter 11: The Alternative Path
“But I still want to learn!” Jessica protested.
Sarah smiled. “Good. Here’s what you do. Take 5% of your investment money – money you can afford to lose completely. Open a paper trading account first. Practice for six months.”
She handed Jessica a reading list:
- “The Intelligent Investor” by Benjamin Graham
- “One Up On Wall Street” by Peter Lynch
- Annual reports for ComfortDelGro, Sheng Siong, and CSE Global
“Read every 10-K, every earnings call transcript. Understand these businesses better than their competitors do. When you can explain to your grandmother why ComfortDelGro is a good investment without mentioning the stock price, then you might be ready.”
“And uncle,” she turned to Uncle Lim, “make sure she’s maxed out her CPF contributions and has an emergency fund before she starts speculating.”
Chapter 12: The Market Cycle
Six months later, Jessica returned to Sarah’s office. The markets had been turbulent – AEM Holdings had recovered to $1.60 on semiconductor cycle optimism, while StarHub had fallen to $1.05 on competitive pressures.
“I’ve been paper trading,” Jessica announced proudly. “I’m down 12%.”
Sarah laughed. “That’s actually good! Most beginners are down 30% in their first six months. What did you learn?”
“That I’m terrible at timing,” Jessica admitted. “I bought CSE Global right before it dropped 15% on a missed earnings estimate.”
“And?”
“And… I held on, because I had read their annual report and understood that one bad quarter doesn’t change their long-term data center growth story. It recovered two months later.”
Sarah nodded approvingly. “Now you’re learning. The stock market is a voting machine in the short run, but a weighing machine in the long run.”
Chapter 13: The Graduate
“I have a confession,” Jessica said. “I actually put some real money to work last month.”
Sarah raised an eyebrow.
“I bought Sheng Siong at $1.95. Just $2,000 – 2% of my portfolio, like you taught me. They announced their 8th new store opening this year, and I remembered you saying aggressive expansion was a key catalyst.”
“And?”
“It’s at $2.01 now. A 3% gain in three weeks. Plus I get to sleep at night knowing I own something I understand.”
Sarah smiled with pride. “Jessica, you just learned the most important lesson in investing: the best returns come from good companies bought at reasonable prices and held with patience.”
Epilogue: The Whisperer’s Wisdom
As the Singapore skyline glittered in the evening light, Sarah updated her research notes for the week. The penny stock market had delivered another lesson in humility – her highest conviction play, CSE Global, had disappointed on guidance, while a stock she had ignored, a small REIT, had surged 20% on an acquisition.
Her phone buzzed with notifications from retail trading forums where amateur investors debated hot tips and momentum plays. She used to get frustrated by the misinformation, but now she understood: the market needed both types of participants.
The speculators provided liquidity and volatility – creating opportunities for patient investors. The patient investors provided stability and price discovery – keeping markets tethered to fundamental value.
Sarah Chen, the Penny Stock Whisperer, had learned that the real secret wasn’t whispering to stocks – it was listening to what the companies themselves were trying to tell her through their earnings, their strategies, their competitive positions.
In a market full of noise, the whisper of quality and value would always find its way to those who are patient enough to listen.
“The stock market is filled with individuals who know the price of everything, but the value of nothing.” – Philip Fisher
THE END
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