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

CapitaLand India Trust / Equity Bottom-Up

<ul><li>S-REITs have seen S$925 million in net retail buying in 2026, double the pace of 2025.  </li><li>UI Boustead REIT increased occupancy to 92.2% and co-invested in Japan's UIB Konan Phase 3 logistics.  </li><li>CapitaLand India Trust and CapitaLand Ascendas REIT drive income through leasing momentum and diversified industrial portfolios.</li></ul>

S-REITs have seen S$925 million in net retail buying in 2026, double the pace of 2025.  UI Boustead REIT increased occupancy to 92.2% and co-invested in Japan's UIB Konan Phase 3 logistics.  CapitaLand India Trust and CapitaLand Ascendas REIT drive income through leasing momentum and diversified industrial portfolios.

Director, Head of Research, Smartkarma

Pranav Rao

Director, Head of Research

Smartkarma

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

Research Reinvented

Equity Capital Markets

CapitaLand India Trust / Equity Capital Markets

<ul>
<li>Welcome to Curator’s Cut - a fortnightly roundup of standout themes from the 1,300+ insights published on Smartkarma.</li>
<li>In this cut, we examine why opportunities exist in Korea despite the record rally, look at the rush of shareholders trimming APAC stakes, and welcome coverage on 500+ private companies.</li>
<li>Want to dig deeper? Comment or message with the themes you’d like to see highlighted next.</li>
</ul>


Welcome to Curator’s Cut - a fortnightly roundup of standout themes from the 1,300+ insights published on Smartkarma.
In this cut, we examine why opportunities exist in Korea despite the record rally, look at the rush of shareholders trimming APAC stakes, and welcome coverage on 500+ private companies.
Want to dig deeper? Comment or message with the themes you’d like to see highlighted next.


Curator's Cut: Seoul Searching Redux, APAC Placements Apace & More Private Markets Coverage

APAC IPOs & Placements, Aequitas Research

Hong Jie Seow

APAC 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.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/capitaland-india-trust" target="_blank" data-smartkarma-citation="entities:935:1" rel="noopener">Capitaland India Trust (CLINT SP)</a> is looking to raise US$121m in a primary placement.</li>
<li>The purpose is for financing of two office buildings in Bangalore, India.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>



Capitaland India Trust (CLINT SP) is looking to raise US$121m in a primary placement.
The purpose is for financing of two office buildings in Bangalore, India.
In this note, we will talk about the placement and run the deal through our ECM framework.


Aequitas: Capitaland India Trust Placement - Accretive Raising For Asset Construction

<ul><li>CapitaLand India Trust, listed on SGX since 2007, has a portfolio valued at S$3.7 billion as of June 2025.  </li><li>For FY 2024, net property income rose 14% to S$205.6 million, with distributions to unitholders increasing 7% to S$101.5 million.  </li><li>The trust offers stable income distributions and growth by managing properties, developing land, and acquiring new assets.</li></ul>

CapitaLand India Trust, listed on SGX since 2007, has a portfolio valued at S$3.7 billion as of June 2025.  For FY 2024, net property income rose 14% to S$205.6 million, with distributions to unitholders increasing 7% to S$101.5 million.  The trust offers stable income distributions and growth by managing properties, developing land, and acquiring new assets.

kopi-C with CapitaLand India Trust - Singapore’s Gateway To Investing in India

Multi-Family Office & Asset Management, Phidelis Capital

Phidelis Capital

Multi-Family Office & Asset Management

A buy side firm - a multi-family office & an asset management firm - regulated by the Monetary Authority of Singapore (MAS), holding a Capital Markets Services (CMS) License under the Securities & Futures Act 2001

Thematic (Sector/Industry)

<ul>
<li>The second edition of Phidelis360 ESG Thematic report assesses  six SGX-listed REITs and business trusts (BTs) — OUE REIT, ESR REIT, CapitaLand India Trust (CIT), AIMS APAC REIT, Far East Hospitality Trust (FEHT), and CapitaLand China Trust (CCT).</li>
<li>These entities were shortlisted from the universe of midcap REITs and BTs  and assessed across four key dimensions - operating and financial performance, ESG assessments, and analyst coverage.</li>
<li>Singapore's S-REIT sector offers a structural backdrop: aggregate market capitalisation of approximately SGD104 billion at end-2025 equates to 10% of SGX's total market capitalisation and 13% of nominal GDP, while average distribution yield of 5.9% exceeds the FTSE Singapore Index's 4.6% and the 10-year government bond yield of 2.1%.</li>
</ul>


The second edition of Phidelis360 ESG Thematic report assesses  six SGX-listed REITs and business trusts (BTs) — OUE REIT, ESR REIT, CapitaLand India Trust (CIT), AIMS APAC REIT, Far East Hospitality Trust (FEHT), and CapitaLand China Trust (CCT).
These entities were shortlisted from the universe of midcap REITs and BTs  and assessed across four key dimensions - operating and financial performance, ESG assessments, and analyst coverage.
Singapore's S-REIT sector offers a structural backdrop: aggregate market capitalisation of approximately SGD104 billion at end-2025 equates to 10% of SGX's total market capitalisation and 13% of nominal GDP, while average distribution yield of 5.9% exceeds the FTSE Singapore Index's 4.6% and the 10-year government bond yield of 2.1%.


Assessing SGX-Listed REITs’ Financial & ESG Performance

Singapore

CapitaLand India Trust is a Singapore-listed property trust that invests in and develops income-producing real estate, primarily business spaces in India. Its portfolio includes IT business parks, industrial facilities, logistics parks, and data centers across major Indian cities. The trust was listed in August 2007 and is headquartered in Singapore.

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CapitaLand India Trust (CLINT SP)

REIT Watch - S REIT Retail Flows in 2026

S-REITs have seen S$925 million in net retail buying in 2026, double the pace of 2025. UI Boustead REIT increased occupancy to 92.2% and...

Singapore Exchange Ltd (SGX)

Curator's Cut: Seoul Searching Redux, APAC Placements Apace & More Private Markets Coverage

This Curator's Cut issue highlights opportunities in Korea amidst the record rally, shareholder stake trimming in APAC, and coverage on 500+...

Pranav Rao

Aequitas: Capitaland India Trust Placement - Accretive Raising For Asset Construction

Capitaland India Trust is raising $121m for two office buildings in Bangalore through a primary placement, analyzed in this note.

Hong Jie Seow

kopi-C with CapitaLand India Trust - Singapore’s Gateway To Investing in India

CapitaLand India Trust, listed on SGX since 2007, has a portfolio valued at S$3.7 billion as of June 2025. For FY 2024, net property income rose...

Singapore Exchange Ltd (SGX)

Assessing SGX-Listed REITs’ Financial & ESG Performance

The second edition of Phidelis360 ESG Thematic report assesses six SGX-listed REITs and business trusts (BTs) — OUE REIT, ESR REIT, CapitaLand...

Phidelis Capital

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

REIT Watch - S REIT Retail Flows in 2026

S-REITs have seen S$925 million in net retail buying in 2026, double the pace of 2025. UI Boustead REIT increased occupancy to 92.2% and...

Singapore Exchange Ltd (SGX)

Curator's Cut: Seoul Searching Redux, APAC Placements Apace & More Private Markets Coverage

This ​Curator's Cut issue highlights opportunities in Korea amidst the record rally, shareholder stake trimming in APAC, and coverage on 500+...

Pranav Rao

Aequitas: Capitaland India Trust Placement - Accretive Raising For Asset Construction

​Capitaland India Trust is raising $121m for two office buildings in Bangalore through a primary placement, analyzed in this note.

Hong Jie Seow

kopi-C with CapitaLand India Trust - Singapore’s Gateway To Investing in India

CapitaLand India Trust, listed on SGX since 2007, has a portfolio valued at S$3.7 billion as of June 2025. For FY 2024, net property income rose...

Singapore Exchange Ltd (SGX)

Assessing SGX-Listed REITs’ Financial & ESG Performance

The second edition of Phidelis360 ESG Thematic report assesses six SGX-listed REITs and business trusts (BTs) — OUE REIT, ESR REIT, CapitaLand...

Phidelis Capital

This Curator's Cut issue highlights opportunities in Korea amidst the record rally, shareholder stake trimming in APAC, and coverage on 500+...

Capitaland India Trust is raising $121m for two office buildings in Bangalore through a primary placement, analyzed in this note.