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[SINGAPORE] While a market meltdown in Indonesia has rattled investor confidence, Singapore-listed companies with sizable exposure to the country have been shielded from the impact.

Singapore Exchange (SGX) market strategist Geoff Howie noted that major agri-commodity plantation companies such as Wilmar International and Golden Agri-Resources have remained resilient, with no significant institutional outflows from the sector since the start of 2025.

The SGX-listed agri-players, he said, have delivered a “relatively defensive” performance so far this year, compared to last year.

In particular, agri-business giant Wilmar has gained traction. It has logged a net institutional inflow of S$51.1 million in the year to date – the sixth highest across the entire SGX market – and generated a total return of 5.8 per cent.

Among all the agri producers with significant Indonesian exposure, Olam Group recorded the largest net institutional outflows in the year to date, at S$16.2 million.