When 2 large businesses are combined, it does not mean it would become a giant stock. Capitaland + Ascendas-Singbridge of Temasek are merged into the 9th largest global property investment company (Asian largest), 51% shares is under control of Temasek.
Before merging, Capitaland has been a slower growth giant stock due to its large size. An investor may not need to consider large parent company. Instead, its subsidiary company with much smaller size could be more profitable, eg. Capitamall Trust (SGX: C38U) of Capitaland and Ascendas Reit (SGX: A17U) are stronger REIT / property giant stocks than its parent company stock.
A giant is not defined by its size of business, but by its internal strength of strong fundamental. An investor could have the best of 2 worlds investing in a strong subsidiary stock of a large parent company (fine if slow in growth), enjoying the fruit of profitable business in smaller market with protection of parent company.
For example, one could invest in Vicom (nearly monopoly business) with protection by parent company, ComfortDelgro. During the last subprime crisis in year 2008-2009, share price of Capitamall Trust drops significantly, Capitaland strongly support this subsidiary with injection of more funds during global financial crisis.
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