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

DFI Retail Group Holdings / Equity Bottom-Up

<ul><li>Yangzijiang Shipbuilding secured US$920 million in new contracts for 22 vessels, boosting its 2025 orderbook to US$1.46 billion.</li><li>iFAST's UK-based iGB achieved S$1.7 million profit in 1HFY25, driven by increased customer deposits and net interest revenue.</li><li>City Developments reported S$1.7 billion revenue in 1HFY25, with significant divestment gains expected from South Beach stake sale.</li></ul>

Yangzijiang Shipbuilding secured US$920 million in new contracts for 22 vessels, boosting its 2025 orderbook to US$1.46 billion.iFAST's UK-based iGB achieved S$1.7 million profit in 1HFY25, driven by increased customer deposits and net interest revenue.City Developments reported S$1.7 billion revenue in 1HFY25, with significant divestment gains expected from South Beach stake sale.

New STI Highs Extends 2025 Total Return to 20%

Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul>
<li>RHB's Yeo raises Food Empire target price to $2.72.                            </li>
<li>UOB Kay Hian maintains 'buy' on Prime US REIT due to low valuation.</li>
<li>RHB's Natarajan ups Suntec REIT target price to $1.48.</li>
</ul>


RHB's Yeo raises Food Empire target price to $2.72.                            
UOB Kay Hian maintains 'buy' on Prime US REIT due to low valuation.
RHB's Natarajan ups Suntec REIT target price to $1.48.


Singapore Market Roundup (10-Sep-2025): RHB's Yeo raises Food Empire target to $2.72

<ul>
<li>UOB Kay Hian's Koh maintains 'buy' on Prime US REIT due to low valuation.</li>
<li>RHB's Natarajan increases Suntec REIT target price to $1.48.</li>
<li>CGSI boosts Yangzijiang Financial target price to $1.25, citing Maritime spin-off.</li>
</ul>


UOB Kay Hian's Koh maintains 'buy' on Prime US REIT due to low valuation.
RHB's Natarajan increases Suntec REIT target price to $1.48.
CGSI boosts Yangzijiang Financial target price to $1.25, citing Maritime spin-off.


Singapore Market Roundup (09-Sep-2025): UOB's Koh Keeps 'buy' on Prime US REIT

<ul><li>Morningstar lowers Singapore banks' uncertainty ratings to 'low' after tariff scare.</li><li>Aletheia Capital sees Sing Investments, Advanced Holdings, and Koyo Int’l as undervalued.</li><li>PhillipCapital raises Singtel's target price to $4.86 due to mobile and data growth.</li></ul>

Morningstar lowers Singapore banks' uncertainty ratings to 'low' after tariff scare.Aletheia Capital sees Sing Investments, Advanced Holdings, and Koyo Int’l as undervalued.PhillipCapital raises Singtel's target price to $4.86 due to mobile and data growth.

Singapore Market Roundup (02-Sep-2025): Morningstar cuts Singapore banks' uncertainty ratings to

Mapletree Pan Asia Commercial Trust / Equity Bottom-Up

<ul><li>Institutions were net sellers of Singapore stocks from August 8 to 14, with a net outflow of S$465 million.</li><li>Suntec REIT saw S$8.5 million net inflow, increasing its 2025 cumulative net inflows to S$53.7 million.</li><li>Keppel led share buybacks, purchasing 2.99 million shares at S$8.41 each, totaling S$55.8 million in consideration.</li></ul>

Institutions were net sellers of Singapore stocks from August 8 to 14, with a net outflow of S$465 million.Suntec REIT saw S$8.5 million net inflow, increasing its 2025 cumulative net inflows to S$53.7 million.Keppel led share buybacks, purchasing 2.99 million shares at S$8.41 each, totaling S$55.8 million in consideration.

Singapore

Singapore Telecommunications Limited wireless telecommunication services. The Company offers diverse range of services including fixed, mobile, data, internet, TV,  and digital solutions. Singapore Telecommunications serves customers worldwide.

Singtel (Singapore Telecommunications) (ST SP)

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Singtel (Singapore Telecommunications) (ST SP)

New STI Highs Extends 2025 Total Return to 20%

Yangzijiang Shipbuilding secured US$920 million in new contracts for 22 vessels, boosting its 2025 orderbook to US$1.46 billion. iFAST's UK-based...

Singapore Exchange Ltd (SGX)

Singapore Market Roundup (10-Sep-2025): RHB's Yeo raises Food Empire target to $2.72

RHB's Yeo raises Food Empire target to $2.72; UOB Kay Hian keeps 'buy' on Prime US REIT; Natarajan increases Suntec REIT target to $1.48.

Singapore Market Roundup

Singapore Market Roundup (09-Sep-2025): UOB's Koh Keeps 'buy' on Prime US REIT

UOB Kay Hian's Koh keeps 'buy' on Prime US REIT for low valuation; RHB raises Suntec REIT target to $1.48; CGSI ups Yangzijiang Financial to $1.25.

Singapore Market Roundup

Singapore Market Roundup (02-Sep-2025): Morningstar cuts Singapore banks' uncertainty ratings to

Morningstar downgrades Singapore banks' uncertainty ratings to 'low.' Aletheia Capital finds Sing Investments, Advanced Holdings, and Koyo Int’l...

Singapore Market Roundup

IFS Capital Chairman and CEO Up Stakes

Institutions were net sellers of Singapore stocks from August 8 to 14, with a net outflow of S$465 million. Suntec REIT saw S$8.5 million net...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)