Why Defence Matters in 2026

The global outlook for 2026 remains uncertain despite lower inflation expectations and impending rate cuts by central banks. Geopolitical tensions, uneven global economic growth and shifting interest-rate expectations are the key factors driving market volatility. Given these uncertainties, investors should look towards defensive stocks to help cushion their portfolios with stable earnings and dependable cash flow. In this article, we look at three defensive Singapore stocks that stand out: Singtel, Sheng Siong and Raffles Medical Group.

Singapore Telecommunications (SGX: Z74, SingTel) – Asia’s Leading Communications Technology Group

Singtel is a leading communications technology group and has a wide presence across Asia, Australia and Africa, with mobile subscribers of over 800 million in 20 countries. Given Singtel’s telecom business being widely regarded as an essential service and the extensive business operations across different regions, the company is considered a defensive counter in the eyes of investors. With management’s ongoing efforts to unlock value and asset recycling...