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>S-Reit acquisitions continue with Clar’s S$218 million buy Earlier last week, CapitaLand Ascendas Reit (Clar) announced the proposed acquisition of an integrated high-specification research and development (R&D) facility and business park property from Seagate Singapore International Headquarters for a purchase consideration of S$218.2 million.</li><li>In April, MLT announced the acquisition of six logistics assets located in Japan, and one logistics property in Sydney, Australia.</li></ul>

S-Reit acquisitions continue with Clar’s S$218 million buy Earlier last week, CapitaLand Ascendas Reit (Clar) announced the proposed acquisition of an integrated high-specification research and development (R&D) facility and business park property from Seagate Singapore International Headquarters for a purchase consideration of S$218.2 million.In April, MLT announced the acquisition of six logistics assets located in Japan, and one logistics property in Sydney, Australia.

REIT Watch - S-Reit acquisitions continue with Clar’s S$218 million buy

External broker reports(aggregated public sources), UOB Kay Hian

UOB Kay Hian

External broker reports(aggregated public sources)

Backed by the UOB Group, UOB Kay Hian is one of Asia’s largest brokerage firms. Headquartered in Singapore, we are supported by more than 80 branches worldwide including a growing network of offices across Southeast Asia, Greater China, the United Kingdom and North America. Our global footprint and strong international presence have enabled us to feel the pulse of key financial markets and deliver incisive intelligence across industry sectors and asset classes. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>The Shugart at one-north district provides attractive NPI yield of 8.3% (7.8% post-transaction costs).</li><li>The development of a six storey high-specification ramp-up logistics facility in Singapore provides attractive stabilised yield of 7.5-8.5%.</li><li>Including the potential acquisition in Europe, the basket of 3 initiatives provides DPU accretion of 1.2-1.3%.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The Shugart at one-north district provides attractive NPI yield of 8.3% (7.8% post-transaction costs).The development of a six storey high-specification ramp-up logistics facility in Singapore provides attractive stabilised yield of 7.5-8.5%.Including the potential acquisition in Europe, the basket of 3 initiatives provides DPU accretion of 1.2-1.3%.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CLAR SP - Growing Through 3 Initiatives While Preserving Resiliency Of Balance Sheet

External broker reports(aggregated public sources), RHB Invest

RHB Invest

RHB Investment Bank is one of the leading capital market players in Malaysia. Supported by an award-winning research team of experienced product specialists, RHB Group Investment Banking offers a full range of investment banking products and services covering primary markets, such as advisory (corporate & debt restructuring, mergers and acquisitions, takeovers), fundraising via both equity and debt instruments, and secondary markets including securities trading for both institutional and retail clients. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>CapitaLand Ascendas REIT (SGX:A17U)’s proposed acquisition of Seagate’s R&amp;D facility is positive – we like the asset’s modern specifications, location, and long lease term.</li><li>It is also in the process of finalising another acquisition in Europe and redevelopment of a logistics facility in Singapore.</li><li>Overall, we believe the transaction reinforces CapitaLand Ascendas REIT’s dominant positioning in the business space and life sciences sectors, and the one-north cluster.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CapitaLand Ascendas REIT (SGX:A17U)’s proposed acquisition of Seagate’s R&amp;D facility is positive – we like the asset’s modern specifications, location, and long lease term.It is also in the process of finalising another acquisition in Europe and redevelopment of a logistics facility in Singapore.Overall, we believe the transaction reinforces CapitaLand Ascendas REIT’s dominant positioning in the business space and life sciences sectors, and the one-north cluster.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CapitaLand Ascendas REIT - Strengthening Its Market Positioning; Stay BUY

CapitaLand Ascendas REIT - Growing Through 3 Initiatives

CapitaLand Integrated Commercial Trust / Equity Bottom-Up

CapitaLand Integrated Commercial Trust (CICT SP)

<ul><li>Capitaland Investment (CLI), one of Singapore’s largest global real estate investment managers, oversees S$133 billion in real estate asset under management (RE AUM) and S$89 billion in fund under management (FUM) as of Mar 31, 2023.</li><li>CLI’s fund management business includes 36 private funds and six listed real estate investment trusts (Reits) and business trusts, of which five are listed in Singapore.</li><li>CapitaLand Ascott Trust (CLAS) saw Q1 2023 gross profit increase by 59 per cent year on year due to stronger operating performance and contributions from new properties.</li></ul>

Capitaland Investment (CLI), one of Singapore’s largest global real estate investment managers, oversees S$133 billion in real estate asset under management (RE AUM) and S$89 billion in fund under management (FUM) as of Mar 31, 2023.CLI’s fund management business includes 36 private funds and six listed real estate investment trusts (Reits) and business trusts, of which five are listed in Singapore.CapitaLand Ascott Trust (CLAS) saw Q1 2023 gross profit increase by 59 per cent year on year due to stronger operating performance and contributions from new properties.

REIT Watch - CapitaLand Reits average 39% gearing; see operational growth

Singapore

CapitaLand Ascendas REIT is Singapore's first and largest listed business space and industrial real estate investment trust. It focuses on a diversified portfolio of business and industrial properties, including business and science parks, high-specification industrial properties, data centers, light industrial properties, and logistics and distribution centers across Singapore, Australia, Europe, and the US. Headquartered in Singapore, the company was established in 2002.

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CapitaLand Ascendas (CLAR SP)

REIT Watch - S-Reit acquisitions continue with Clar’s S$218 million buy

S-Reit acquisitions continue with Clar’s S$218 million buy Earlier last week, CapitaLand Ascendas Reit (Clar) announced the proposed acquisition...

Singapore Exchange Ltd (SGX)

CLAR SP - Growing Through 3 Initiatives While Preserving Resiliency Of Balance Sheet

The development of a six storey high-specification ramp-up logistics facility in Singapore provides attractive stabilised yield of 7.5-8.5%.

UOB Kay Hian

CapitaLand Ascendas REIT - Strengthening Its Market Positioning; Stay BUY

CapitaLand Ascendas REIT (SGX:A17U)’s proposed acquisition of Seagate’s R&D facility is positive – we like the asset’s modern specifications,...

RHB Invest

CapitaLand Ascendas REIT - Growing Through 3 Initiatives

Growing Through 3 Initiatives While Preserving Resiliency Of Balance Sheet. The Shugart at one-north district provides attractive NPI yield of...

UOB Kay Hian

REIT Watch - CapitaLand Reits average 39% gearing; see operational growth

Capitaland Investment (CLI), one of Singapore’s largest global real estate investment managers, oversees S$133 billion in real estate asset under...

Singapore Exchange Ltd (SGX)

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