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>Over the five trading sessions from Nov 29 to Dec 5, institutions were net buyers of Singapore stocks, leading to a net institutional inflow of S$418 million.</li><li>Stocks that led the net institutional inflow over the five sessions until Dec 5 inclusive were DBS, Suntec Real Estate Investment Trust (Reit), Yangzijiang Shipbuilding, Sembcorp Industries, Singtel, Keppel, Thai Beverage, Seatrium, Jardine Matheson, and Singapore Airlines.</li><li>Union Steel ranks among the 250 most-traded stocks this year, and among the 150 stocks that booked the highest net institutional inflow.</li></ul>

Over the five trading sessions from Nov 29 to Dec 5, institutions were net buyers of Singapore stocks, leading to a net institutional inflow of S$418 million.Stocks that led the net institutional inflow over the five sessions until Dec 5 inclusive were DBS, Suntec Real Estate Investment Trust (Reit), Yangzijiang Shipbuilding, Sembcorp Industries, Singtel, Keppel, Thai Beverage, Seatrium, Jardine Matheson, and Singapore Airlines.Union Steel ranks among the 250 most-traded stocks this year, and among the 150 stocks that booked the highest net institutional inflow.

Marco Polo Marine Directors Boost Shareholding

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

DigiCo Infrastructure REIT / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/digico-reit" target="_blank" data-smartkarma-citation="entities:44091:1" rel="noopener">DigiCo REIT (DIGICO AU)</a> is looking to raise around US$1.3bn in its Australian IPO.</li>
<li>DigiCo REIT (DREIT) aims to be a diversified owner, operator and developer of data centres, with a global portfolio and broad investment mandate across stabilised, value-add and development opportunities</li>
<li>We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.</li>
</ul>



DigiCo REIT (DIGICO AU) is looking to raise around US$1.3bn in its Australian IPO.
DigiCo REIT (DREIT) aims to be a diversified owner, operator and developer of data centres, with a global portfolio and broad investment mandate across stabilised, value-add and development opportunities
We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.


DigiCo Infrastructure REIT IPO - Looks Decent - After All the Adjustments

<ul><li>Over the five trading sessions from Nov 22 to 28, institutions were net buyers of Singapore stocks, resulting in a net institutional inflow of S$188 million, reversing the net outflow of S$38 million observed over the five preceding sessions up to Nov 21.</li><li>Stocks that led the net institutional inflow over the five sessions through to Nov 22 were Yangzijiang Shipbuilding Holdings, Oversea-Chinese Banking Corporation, Keppel, CapitaLand Integrated Commercial Trust, Singapore Exchange, United Overseas Bank, Seatrium, Jardine Matheson Holdings, Eneco Energy and Thai Beverage Public Co.</li><li>On Nov 22, Lim Keen Ban Holdings Pte Ltd acquired 1.6 million shares of Cortina Holdings at S$2.90 per share.</li></ul>

Over the five trading sessions from Nov 22 to 28, institutions were net buyers of Singapore stocks, resulting in a net institutional inflow of S$188 million, reversing the net outflow of S$38 million observed over the five preceding sessions up to Nov 21.Stocks that led the net institutional inflow over the five sessions through to Nov 22 were Yangzijiang Shipbuilding Holdings, Oversea-Chinese Banking Corporation, Keppel, CapitaLand Integrated Commercial Trust, Singapore Exchange, United Overseas Bank, Seatrium, Jardine Matheson Holdings, Eneco Energy and Thai Beverage Public Co.On Nov 22, Lim Keen Ban Holdings Pte Ltd acquired 1.6 million shares of Cortina Holdings at S$2.90 per share.

DBS buys back nearly S$15m of its shares; AGT Partners becomes Oiltek’s substantial shareholder

Jardine Matheson Holdings / Equity Bottom-Up

<ul><li>Over the five trading sessions from Nov 15 to 21, institutions were net sellers of Singapore stocks, resulting in a net institutional outflow of S$38 million.</li><li>This marked a slight reversal from the net inflow of S$384 million observed over the five preceding sessions up to Nov 14.</li><li>Stocks that led the net institutional outflow over the five sessions through to Nov 22 were CapitaLand Integrated Commercial Trust, CapitaLand Ascendas REIT, DBS Group Holdings, Yangzijiang Shipbuilding Holdings, Genting Singapore, Mapletree Logistics Trust, Frasers Logistics & Commercial Trust, Keppel DC REIT, Wilmar International and Keppel REIT.</li></ul>

Over the five trading sessions from Nov 15 to 21, institutions were net sellers of Singapore stocks, resulting in a net institutional outflow of S$38 million.This marked a slight reversal from the net inflow of S$384 million observed over the five preceding sessions up to Nov 14.Stocks that led the net institutional outflow over the five sessions through to Nov 22 were CapitaLand Integrated Commercial Trust, CapitaLand Ascendas REIT, DBS Group Holdings, Yangzijiang Shipbuilding Holdings, Genting Singapore, Mapletree Logistics Trust, Frasers Logistics & Commercial Trust, Keppel DC REIT, Wilmar International and Keppel REIT.

ABR Holdings managing director continues to grow interest

Director and Founding Member, Corporate Monitor Limited

Tan Yee Peng

Director and Founding Member

Strengthening Corporate Performance

Corporate Monitor Limited

Corporate Monitor was established to encourage better performance of companies, particularly companies listed on the SGX, and hold their management and boards to account, for the benefit of their shareholders and stakeholders.

<ul>
<li>This is the third report issued by CML on Keppel’s transformation to a global asset manager per its Vision 2030.</li>
<li>CML has earlier issued two reports on this subject. The first examines the lack of disclosure by Keppel on critical information and data pertaining to its asset management business.</li>
<li>This is disappointing as Keppel is almost halfway to its fund under management (‘FUM”) target of S$200bn, and we include peers which are similar in size.</li>
</ul>


This is the third report issued by CML on Keppel’s transformation to a global asset manager per its Vision 2030.
CML has earlier issued two reports on this subject. The first examines the lack of disclosure by Keppel on critical information and data pertaining to its asset management business.
This is disappointing as Keppel is almost halfway to its fund under management (‘FUM”) target of S$200bn, and we include peers which are similar in size.


Keppel: Strategic Transformation to Asset Manager (Report 3)

Singapore

Keppel Corporation Limited's core businesses are offshore and marine, infrastructure, property investment and development, telecommunications and transportation, energy, and engineering.

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Keppel Corp (KEP SP)

Marco Polo Marine Directors Boost Shareholding

Over the five trading sessions from Nov 29 to Dec 5, institutions were net buyers of Singapore stocks, leading to a net institutional inflow of...

Singapore Exchange Ltd (SGX)

DigiCo Infrastructure REIT IPO - Looks Decent - After All the Adjustments

DigiCo REIT (DIGICO AU) is looking to raise around US$1.3bn in its Australian IPO. In this note, we look at the company's valuations.

Sumeet Singh

DBS buys back nearly S$15m of its shares; AGT Partners becomes Oiltek’s substantial shareholder

Over the five trading sessions from Nov 22 to 28, institutions were net buyers of Singapore stocks, resulting in a net institutional inflow of...

Singapore Exchange Ltd (SGX)

ABR Holdings managing director continues to grow interest

Over the five trading sessions from Nov 15 to 21, institutions were net sellers of Singapore stocks, resulting in a net institutional outflow of...

Singapore Exchange Ltd (SGX)

Keppel: Strategic Transformation to Asset Manager (Report 3)

This is the third report issued by CML on Keppel’s transformation to a global asset manager per its Vision 2030. CML has earlier issued two reports...

Corporate Monitor Limited

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