Singapore Press and ComfortDelGro are among some of the worst performing stocks this year, according to a release by the Singapore Exchange.
While Straits Times Index (STI) generated a total return of 24.1% year-to-date, Singapore Press and ComfortDelGro generated negative returns of 22 percent and 15 percent in the same priod, respectively.
Singapore Press, the city-state's dominant newspaper publisher, like many of its peers in the industry, is grappling with digital disruption that has eroded readership and advertising revenue, the report said.
The company said it is focusing on the disruption to its media business as it accelerated a previously announced round of job cuts.
Meanwhile, Singapore's largest taxi company, ComfortDelGro is facing tough competition from private-hire services such as Uber and Grab, which make up half the market for point-to-point transport options.
The stock's market capitalisation has declined by US$1.2 billion so far this year, mainly on concerns about its taxi business, Bloomberg data showed.
On the bright side, stocks such as Hi-P International, Venture and Shangri-La were the strongest performers in the so far this year.
Hi-P International has been the strongest performer of the billionaire stocks in the year thus far, in addition to the second best performer in the December quarter-to-date.
The stock price has gained more than 200 percent in the year-to-date, with a 30% gain generated for the quarter-to-date. The stock also joined the FTSE ST China Index, along with Valuetronics, in September.
