Looking to Grow your CPF Ordinary Account? These 3 Singapore Blue-Chip Stocks

1) Singapore Technologies Engineering Ltd (SGX: S58)

2) DBS Group (SGX: D05)

3) Yangzijiang Shipbuilding Holdings Ltd (SGX: BS6)

Yangzijiang Shipbuilding, or YZJ, is one of the largest shipbuilding companies in China.

The group has four shipyards in China and manufactures a broad range of vessels including large containerships, bulk carriers, and LNG carriers.

1H 2023 saw an impressive performance from the shipbuilder as revenue climbed 16% year on year to RMB 11.3 billion.

Net profit soared by 47% year on year to RMB 1.7 billion.

The group paid out a total dividend of S$0.05 last year, giving its shares a trailing dividend yield of 2.9%.

Free cash flow for 1H 2023 catapulted 143% year on year to RMB 2.2 billion, thereby increasing the likelihood that YZJ will increase its dividend when it reports its full-year results.

In the first six months of this year, the shipbuilder grew its order book to a historic high of US$14.7 billion, up 40% from US$10.5 billion at the end of 2022.

In addition, the group also secured its first-ever orders for methanol dual-fuel containerships.

Its order wins for 1H 2023 have touched US$5.76 billion, easily surpassing its full-year 2023 goal of US$3 billion.

Regulatory revisions look set to drive fleet decarbonisation for containership owners, leading them to replace their vessels and thereby boosting the prospects for YZJ and its order book.

By the time your child grows up, inflation will have gobbled up their savings. If you not only want to protect their money but also grow it, there are 3 SGX stocks you can consider buying. One has already proven to give a 55.8% dividend pay rise.

Disclosure: Royston Yang owns shares of DBS Group.