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.

<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd">



20 Largest China Plays Returned 27% in the YTD

Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

Value-focused bottom-up Asian equity research

NVB Asia Pte Ltd

Equity Bottom-Up

Bund Center Investment / Equity Bottom-Up

<p>On Tuesday 25th of April I attended the AGM of <a href="https://www.smartkarma.com/entities/3813" target="_blank" data-smartkarma-citation="entities:3813:1">Bund Center Investment Ltd (BCI SP)</a> in Singapore. There were about 75-80 people in attendance.</p><figure class="editor-figure mceNonEditable"><img class="editor-image img-responsive" src="https://static-prod.smartkarma.com/images/media/000/024/966/original/25-4-2017%208-30-55%20PM.jpg?1493123481" data-smartkarma-image-id="24966"></figure><p>The CFO gave a short introduction to the company. Highlighting the decline in revenue in 2016 (-8%) which was primarily due to the RMB depreciation vs SGD. Recall that all revenue and income of this group is generated by two assets in China. Please see <a href="https://www.smartkarma.com/insights/discover-singapore-bund-center-investment-bci-sp-70-discount-to-nav-and-churning-out-dividends" target="_blank" data-smartkarma-citation="insights:10117">Discover Singapore: Bund Center Investment (BCI SP); 70% Discount to NAV and Churning Out Dividends</a> for…</p>

On Tuesday 25th of April I attended the AGM of Bund Center Investment Ltd (BCI SP) in Singapore. There were about 75-80 people in attendance.The CFO gave a short introduction to the company. Highlighting the decline in revenue in 2016 (-8%) which was primarily due to the RMB depreciation vs SGD. Recall that all revenue and income of this group is generated by two assets in China. Please see Discover Singapore: Bund Center Investment (BCI SP); 70% Discount to NAV and Churning Out Dividends for…

AGM Bund Center Investment (BCI SP): Chairman Prefers Dividends over Acquisitions

ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

Smartkarma

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

Research Reinvented

Thematic (Sector/Industry)

<h2>The Week that Was in <a href="mailto:ASEAN@Smartkarma" target="_blank">ASEAN@Smartkarma </a>
</h2><p>No doubt that the <strong>biggest event of the week was the second round of the election run-off for Governor of Jakarta</strong>. The market seems to have taken the surprisingly convincing win by Anies Basewedan in its stride. He toppled the incumbent Chinese Christian Governor, Basuki "Ahok" Tjahaja Purnama, with 58% of the vote versus Ahok's 42% (quick count). The lead was way beyond that was forecast by any of the pre-election surveys. The way the election played out…</p>

The Week that Was in ASEAN@Smartkarma 
No doubt that the biggest event of the week was the second round of the election run-off for Governor of Jakarta. The market seems to have taken the surprisingly convincing win by Anies Basewedan in its stride. He toppled the incumbent Chinese Christian Governor, Basuki "Ahok" Tjahaja Purnama, with 58% of the vote versus Ahok's 42% (quick count). The lead was way beyond that was forecast by any of the pre-election surveys. The way the election played out…

The Week that Was in ASEAN@Smartkarma - Coal, Space Ships, And Apartments

<ul><li><a href="https://www.smartkarma.com/entities/3813" target="_blank" data-smartkarma-citation="entities:3813:1">Bund Center Investment Ltd (BCI SP)</a> was spun off from <a href="https://www.smartkarma.com/entities/1144" target="_blank" data-smartkarma-citation="entities:1144:1">Sinarmas Land Ltd (SML SP)</a> in 2010</li><li>BCI owns property in Shanghai and Ningbo</li><li>Core asset: Westin Bund Center in Shanghai</li><li>Independent Appraisal value over 2 billion SGD, suggesting NAV per share of 2.71 SGD</li><li>Market Value of 607 million SGD, at current 0.80 SGD/share valuation</li><li>70% discount to NAV</li><li>Net Cash on Balance Sheet and good dividend track record since 2013</li><li>Fair Value: 1 SGD (base case)- 22% upside or 1.36 SGD (bull case) - 66% upside</li></ul>

Bund Center Investment Ltd (BCI SP) was spun off from Sinarmas Land Ltd (SML SP) in 2010BCI owns property in Shanghai and NingboCore asset: Westin Bund Center in ShanghaiIndependent Appraisal value over 2 billion SGD, suggesting NAV per share of 2.71 SGDMarket Value of 607 million SGD, at current 0.80 SGD/share valuation70% discount to NAVNet Cash on Balance Sheet and good dividend track record since 2013Fair Value: 1 SGD (base case)- 22% upside or 1.36 SGD (bull case) - 66% upside

Discover Singapore: Bund Center Investment (BCI SP); 70% Discount to NAV and Churning Out Dividends

Deciphering real estate markets globally., Rems Advisors

TAN Kok Keong

Deciphering real estate markets globally.

Rems Advisors

<p>We visited the newly completed residential project, The Crest on 17th Mar 2017. The Crest is developed by <a href="https://www.smartkarma.com/entities/19015" target="_blank" data-smartkarma-citation="entities:19015:1">Wing Tai Holdings Ltd (WINGT SP)</a> and designed by award-winning Japanese architect Toyo Ito. The Crest is located at the high-end Jervois precinct, fronted by the ultra-high end Good Class Bungalow estates of Chatsworth and Bishop Gate.  The project has just obtained Temporary Occupation Permit and the developer held a briefing and site visit for real estate agents. </p><h2>What is on offer? </h2><p>The…</p>

We visited the newly completed residential project, The Crest on 17th Mar 2017. The Crest is developed by Wing Tai Holdings Ltd (WINGT SP) and designed by award-winning Japanese architect Toyo Ito. The Crest is located at the high-end Jervois precinct, fronted by the ultra-high end Good Class Bungalow estates of Chatsworth and Bishop Gate.  The project has just obtained Temporary Occupation Permit and the developer held a briefing and site visit for real estate agents. What is on offer? The…

Singapore

Bund Center Investment, Ltd. invests in commercial property in China. The Company owns office buildings, hotels, and retail malls.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Bund Center Investment (BCI SP)

20 Largest China Plays Returned 27% in the YTD

Singapore Exchange Ltd (SGX)

AGM Bund Center Investment (BCI SP): Chairman Prefers Dividends over Acquisitions

On Tuesday 25th of April I attended the AGM of Bund Center Investment Ltd (BCI SP) in Singapore. There were about 75-80 people in attendance.The...

Nicolas Van Broekhoven

The Week that Was in ASEAN@Smartkarma - Coal, Space Ships, And Apartments

The Week that Was in ASEAN@Smartkarma No doubt that the biggest event of the week was the second round of the election run-off for Governor of...

Angus Mackintosh

Discover Singapore: Bund Center Investment (BCI SP); 70% Discount to NAV and Churning Out Dividends

Bund Center Investment Ltd (BCI SP) was spun off from Sinarmas Land Ltd (SML SP) in 2010 BCI owns property in Shanghai and Ningbo Core asset:...

Nicolas Van Broekhoven

On Site: The Crest by WingTai Holdings

We visited the newly completed residential project, The Crest on 17th Mar 2017. The Crest is developed by Wing Tai Holdings Ltd (WINGT SP) and...

TAN Kok Keong

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)