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I think even within STI, corporate governance is a factor. Thinking about Noble Group, Olam etc.
As for "Old" vs "New" economy, yes, it's a factor (maybe a big factor); but perhaps not the main focus of the original article and Prof Mak's remarks.
Here is another more detailed dissection of STI components, for those interested in the topic: https://www.drwealth.com/why-investors-a...lue-chips/
As for "Old" vs "New" economy, yes, it's a factor (maybe a big factor); but perhaps not the main focus of the original article and Prof Mak's remarks.
Here is another more detailed dissection of STI components, for those interested in the topic: https://www.drwealth.com/why-investors-a...lue-chips/
Quote:Why Investors Are Angry With Singapore Blue Chips
“If you buy a business just because it’s undervalued, then you have to worry about selling it when it reaches its intrinsic value. That’s hard. But if you can buy a few great companies, then you can sit on your ass. That’s a good thing.” - Charlie Munger