SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

<ul><li>In 1Q24, 50 SGX primary-listed companies bought back shares by way of market acquisitions with a combined consideration of ~S$230 million.</li><li>CapitaLand Investment bought back 31.2 million shares at an average price of S$2.96 in 1Q24 and City Developments bought back 6.7 million shares at an average price of S$5.91 per share.</li><li>The 1Q24 buyback activity compared to 41 primary-listed companies conducting S$111 million in buyback consideration in 1Q23.</li></ul>

In 1Q24, 50 SGX primary-listed companies bought back shares by way of market acquisitions with a combined consideration of ~S$230 million.CapitaLand Investment bought back 31.2 million shares at an average price of S$2.96 in 1Q24 and City Developments bought back 6.7 million shares at an average price of S$5.91 per share.The 1Q24 buyback activity compared to 41 primary-listed companies conducting S$111 million in buyback consideration in 1Q23.

Singapore Primary-listed Companies Bought Back S$230M in Shares in 1Q24 

<ul><li>kopi-C with IREIT Global’s CEO: "Conviction is what matters" “Everyone was saying we were crazy, that retail is over due to e-commerce and Covid-19,” recalls Louis d’Estienne d’Orves, chief executive officer of IREIT.</li><li>The REIT also has the backing of its joint sponsors, global real estate firm City Developments Limited and international alternative asset management group Tikehau Capital.</li></ul>

kopi-C with IREIT Global’s CEO: "Conviction is what matters" “Everyone was saying we were crazy, that retail is over due to e-commerce and Covid-19,” recalls Louis d’Estienne d’Orves, chief executive officer of IREIT.The REIT also has the backing of its joint sponsors, global real estate firm City Developments Limited and international alternative asset management group Tikehau Capital.

kopi-C with IREIT Global’s CEO: "Conviction is what matters"

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<li>Raffles Medical executive chair continues acquisitions, CDL leads buyback consideration Institutions were net sellers of Singapore stocks over the five trading sessions through to Mar 14, with S$156 million of net institutional outflow, as 24 primary-listed companies conducted buybacks with a total consideration of S$35.3 million, up from the S$24.4 million in buyback consideration for the preceding five sessions.</li>
<li>Between Mar 7 and 13, Raffles Medical Group executive chairman Loo Choon Yong acquired 2.7 million shares at an average price of S$1.02 per share.</li>
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Raffles Medical executive chair continues acquisitions, CDL leads buyback consideration Institutions were net sellers of Singapore stocks over the five trading sessions through to Mar 14, with S$156 million of net institutional outflow, as 24 primary-listed companies conducted buybacks with a total consideration of S$35.3 million, up from the S$24.4 million in buyback consideration for the preceding five sessions.
Between Mar 7 and 13, Raffles Medical Group executive chairman Loo Choon Yong acquired 2.7 million shares at an average price of S$1.02 per share.


Raffles Medical executive chair continues acquisitions, CDL leads buyback consideration

Forensic Analyst

Jason Yap, CFA

Forensic Accounting

<p><a href="https://www.smartkarma.com/entities/city-developments-ltd" target="_blank" data-smartkarma-citation="entities:57:1" rel="noopener">City Developments (CIT SP)</a> wrote off a majority of its investments in Sincere Property and had pledged to “<em>ring-fence</em>” its financial exposures.  While it has taken decisive steps to stem the bleeding from the beleaguered China unit, the situation remains complex and highly fluid.  This article sets out a preliminary assessment of CDL's stated exposures compared to true underlying risks, key transactions and partner backgrounds, an outline of China's bankruptcy proceedings, and an indicative roadmap for a broader recovery. </p>

City Developments (CIT SP) wrote off a majority of its investments in Sincere Property and had pledged to “ring-fence” its financial exposures.  While it has taken decisive steps to stem the bleeding from the beleaguered China unit, the situation remains complex and highly fluid.  This article sets out a preliminary assessment of CDL's stated exposures compared to true underlying risks, key transactions and partner backgrounds, an outline of China's bankruptcy proceedings, and an indicative roadmap for a broader recovery. 

CDL - Remedies for a Beleaguered Chinese Investment and Belligerent JV Partner

Smartkarma Research Team, Smartkarma

Smartkarma Research

Smartkarma Research Team

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<div>For our next Webinar, we are excited to welcome Insight Provider <a href="https://www.smartkarma.com/profiles/jason-yap-cfa" target="_blank" data-smartkarma-citation="accounts:24996" rel="noopener">Jason Yap, CFA</a> who will share his insights on Forensic Accounting and how to apply it to the investment process. He will go over how to bridge existing knowledge gaps of traditional fundamental analysis, with the ultimate aim of maximising portfolio returns. </div>
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<h3>The webinar was hosted on Wednesday, 22 September 2021, 17:00 SGT/HKT.</h3>
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<p>Watch the full session:</p>
<p><iframe src="https://www.youtube.com/embed/RRdIcQu1X4w" width="560" height="315" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="allowfullscreen"></iframe></p>
<p>Or subscribe to our podcast feed and listen on the go:</p>
<p><iframe src="https://open.spotify.com/embed/episode/64qGiU89gmKE8GMzj9nEQl?utm_source=generator" width="100%" height="232" frameborder="0" allowfullscreen="allowfullscreen" allow="autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture"></iframe></p>
<p>Jason Yap is an independent Forensic Analyst with 11 years of experience. He was previously a Senior Forensic Analyst at a Singapore- and Shanghai-based fund with approximately US$2.5 billion in AUM, with an investment focus on China A/H shares and ADRs. Prior to that, he worked at leading Asia-based restructuring and forensic accounting firms, Borrelli Walsh Limited and nTan Corporate Advisory Pte Ltd.</p>
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For our next Webinar, we are excited to welcome Insight Provider Jason Yap, CFA who will share his insights on Forensic Accounting and how to apply it to the investment process. He will go over how to bridge existing knowledge gaps of traditional fundamental analysis, with the ultimate aim of maximising portfolio returns. 




The webinar was hosted on Wednesday, 22 September 2021, 17:00 SGT/HKT.



Watch the full session:

Or subscribe to our podcast feed and listen on the go:

Jason Yap is an independent Forensic Analyst with 11 years of experience. He was previously a Senior Forensic Analyst at a Singapore- and Shanghai-based fund with approximately US$2.5 billion in AUM, with an investment focus on China A/H shares and ADRs. Prior to that, he worked at leading Asia-based restructuring and forensic accounting firms, Borrelli Walsh Limited and nTan Corporate Advisory Pte Ltd.



Smartkarma Webinar | Incorporating Forensic Accounting into Investing

Singapore

City Developments Limited is a property developer and owner. The Company, through its subsidiaries, are principally engaged in the investment of properties and shares, property management, project management and the provision of consultancy services, hospitality-related information technology, and procurement services. City Developments has a global presence.

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City Developments (CIT SP)

Singapore Primary-listed Companies Bought Back S$230M in Shares in 1Q24

In 1Q24, 50 SGX primary-listed companies bought back shares by way of market acquisitions with a combined consideration of ~S$230...

Singapore Exchange Ltd (SGX)

kopi-C with IREIT Global’s CEO: "Conviction is what matters"

kopi-C with IREIT Global’s CEO: "Conviction is what matters" “Everyone was saying we were crazy, that retail is over due to e-commerce and...

Singapore Exchange Ltd (SGX)

Raffles Medical executive chair continues acquisitions, CDL leads buyback consideration

Raffles Medical executive chair continues acquisitions, CDL leads buyback consideration Institutions were net sellers of Singapore stocks over the...

Singapore Exchange Ltd (SGX)

CDL - Remedies for a Beleaguered Chinese Investment and Belligerent JV Partner

CDL wrote off its investment in Sincere Property and looks to turn the page. This article examines how this can be done with regard to risks, China...

Jason Yap, CFA

Smartkarma Webinar | Incorporating Forensic Accounting into Investing

On 22 September, 5pm SGT, Insight Provider Jason Yap, CFA will share his insights on Forensic Accounting and how to apply it to the investment...

Smartkarma Research

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