The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
0450 GMT - Investors looking for Singapore ESG picks should go for those that have scope to outperform the STI without losing their sustainability potential, CGS-CIMB says. For analysts Lim Siew Khee, Lock Mun Yee and Melvin Lim, these include conglomerate Keppel, Sembcorp Industries and Yangzijiang Shipbuilding. Investors have responded well to the companies' eco-friendly moves, like Keppel selling its offshore and marine arm and transferring legacy rigs, Sembcorp selling its India coal plant while adding renewable capacity and Yangzijiang signaling more green vessels in its pipeline with its maiden LNG carrier newbuild contract. They also like City Developments, Singtel and ST Engineering--all early movers in carbon commitments in their respective fields. Since September 2021, the analysts' portfolios of ESG picks have outperformed the STI by 25%. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
May 09, 2023 00:50 ET (04:50 GMT)
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