🌟 SGX FTSE ST Mid‑Cap Index – Full Stocks List & Market Cap (2025)
After diving deeper into Singapore’s mid-tier companies, here’s what I found: the FTSE ST Mid‑Cap Index is a strong reflection of SGX’s evolving middle-class of stocks—those that aren’t massive blue-chips but still pack serious market power. In 2025, this index includes around 32 companies—a mix of rising stars and sector leaders outside the top 30 STI names.
🏦 Mid‑Cap Index Overview
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Constituents: About 32 stocks, excluding STI names but all within the top 90% of SGX market cap.
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Total market cap: Roughly S$125 billion.
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Average daily volume: Around S$340 million.
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Recent performance: Slight dip (~‑1.5%), but some stocks have delivered strong returns.
📊 Top 12 Mid‑Cap Stocks by Market Cap
Here are the heaviest hitters, ranked by their approximate market caps:
| Rank | Company | Ticker | Market Cap (SGD billion) |
|---|---|---|---|
| 1 | UOL Group | U14 | 5.1 |
| 2 | DFI Retail | D01 | 4.6 |
| 3 | SIA Engineering | S59 | 3.5 |
| 4 | Sheng Siong | OV8 | 2.8 |
| 5 | Raffles Medical | BSL | 1.8 |
| 6 | CapitaLand Comm Trust | C61U | 4.5 |
| 7 | Suntec REIT | T82U | 4.3 |
| 8 | Singapore Post | S08 | 4.1 |
| 9 | SATS | S58 | 4.0 |
| 10 | Yangzijiang Shipbuilding | BS6 | 5.1 |
| 11 | Keppel REIT | K71U | 3.6 |
| 12 | First Resources | EB5 | 3.4 |
These twelve alone add up to nearly S$45 billion—a massive chunk of the mid-cap universe.
🔥 Performance Highlights (1H 2025)
Some companies really stood out in the first half of 2025:
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SIA Engineering: Market cap ~3.5 b; total return +31% YTD.
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UOL Group: ~5.1 b; +21.5% YTD.
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Sheng Siong: ~2.8 b; strong ROE at 26.7%.
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Raffles Medical: ~1.8 b; +14.5% YTD.
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DFI Retail: ~4.6 b; +12% YTD.
These names led the index despite the overall market being slightly down, showing strength in niche segments like healthcare, retail, and engineering.
🧩 Sector Snapshot
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Industrials & Services: SIA Engineering, SATS
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Real estate (ex-REIT): UOL
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Consumer staples: Sheng Siong, DFI Retail
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Healthcare: Raffles Medical
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REITs: CapitaLand Comm Trust, Suntec REIT, Keppel REIT
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Industrial/export: Yangzijiang, First Resources, Singapore Post
It's a diverse mix—and that's exactly what makes mid-caps interesting. These companies aren’t just big enough to be stable; they’re nimble enough to grow fast.
📝 Why This Index Is Worth Watching
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Growth potential: These firms are large enough to ride trends but still offer upside.
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Attractive yields: Cap-weighted REITs and stable consumer players deliver solid income.
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Active interest: Average trading volumes are healthy, meaning liquidity for investors.
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Sector diversity: From aviation and property development to food retail and healthcare—all in one index.
✅ Final Thoughts
The FTSE ST Mid‑Cap Index in 2025 is a treasure trove of solid mid-tier companies—some topping S$5 b in market cap, others quietly delivering strong returns. It’s a fantastic way to balance portfolios: skip the mega-caps and explore the next wave of SGX movers.