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>The first batch of 3 Singapore Depository Receipts (SDRs) represent the beneficial ownership interest in the underlying securities of Airports of Thailand (AOT), CP All (CPALL) and PTT Exploration & Production (PTTEP), which are constituents of the benchmark SET50 Index.</li><li>Through the SDRs, investors are now able to gain access to an underlying security which is currently listed on an overseas exchange.</li><li>SDRs are instruments each representing beneficial interest in an underlying security listed on an overseas exchange.</li></ul>

The first batch of 3 Singapore Depository Receipts (SDRs) represent the beneficial ownership interest in the underlying securities of Airports of Thailand (AOT), CP All (CPALL) and PTT Exploration & Production (PTTEP), which are constituents of the benchmark SET50 Index.Through the SDRs, investors are now able to gain access to an underlying security which is currently listed on an overseas exchange.SDRs are instruments each representing beneficial interest in an underlying security listed on an overseas exchange.

Singapore Depository Receipts provide investors access to some of Thailand’s largest companies

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

<div><div><div><p><strong>Still struggling due to the pandemic</strong><br>AOT continued to report weak earnings results QoQ in 3QFY20/21 owing in part to the new round of the pandemic. Meanwhile, we believe the ongoing spread of COVID-19 in the country will pressure AOT’s share price. We thus maintain our Hold rating pending improvement in the situation and wider deployment of vaccines.</p></div></div></div>

Still struggling due to the pandemic AOT continued to report weak earnings results QoQ in 3QFY20/21 owing in part to the new round of the pandemic. Meanwhile, we believe the ongoing spread of COVID-19 in the country will pressure AOT’s share price. We thus maintain our Hold rating pending improvement in the situation and wider deployment of vaccines.

Company Update: Airports of Thailand Plc. (AOT)

Thailand

Airports of Thailand Public Company Limited (AOT) operates and manages six international airports in Thailand, including Suvarnabhumi Airport and Don Mueang International Airport. The company provides aeronautical services such as landing and parking, passenger service, and aircraft service charges. It also offers non-aeronautical services, including concession revenues, office and property rentals, hotel and restaurant businesses, ground services, and security services. AOT was founded in 1979 and is headquartered in Bangkok, Thailand.

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Airports of Thailand (AOT TB)

Singapore Depository Receipts provide investors access to some of Thailand’s largest companies

The first batch of 3 Singapore Depository Receipts (SDRs) represent the beneficial ownership interest in the underlying securities of Airports of...

Singapore Exchange Ltd (SGX)

Company Update: Airports of Thailand Plc. (AOT)

Still struggling due to the pandemic, AOT continued to report weak earnings results QoQ in 3QFY20/21 owing in part to the new round of the pandemic.

Krungthai XSpring

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