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 Integrated Commercial Trust / Equity Bottom-Up

<ul><li>10 largest weights of the iEdge S-Reit Index THE FTSE EPRA Nareit Developed Index is designed to track the performance of listed real estate companies and real estate investment trusts (Reits) worldwide.</li><li>The 10 largest weights of the iEdge S-Reit Index make up close to 70 per cent of the index weights.</li></ul>

10 largest weights of the iEdge S-Reit Index THE FTSE EPRA Nareit Developed Index is designed to track the performance of listed real estate companies and real estate investment trusts (Reits) worldwide.The 10 largest weights of the iEdge S-Reit Index make up close to 70 per cent of the index weights.

REIT Watch - iEdge S-Reit Index vies for portfolio positioning

<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

<ul><li>Plato Capital chairman Lim Kian Onn boosts his stake Digital Core Reit Management bought back 210,000 units of Digital Core Reit.</li><li>On Apr 12, Plato Capital chairman and non-executive non-independent director Lim Kian Onn acquired 283,000 shares at an average price of S$2.21 per share.</li></ul>

Plato Capital chairman Lim Kian Onn boosts his stake Digital Core Reit Management bought back 210,000 units of Digital Core Reit.On Apr 12, Plato Capital chairman and non-executive non-independent director Lim Kian Onn acquired 283,000 shares at an average price of S$2.21 per share.

Plato Capital chairman Lim Kian Onn boosts his stake

Alpha-Centric ESG Research

Kyle Rudden

Thematic (Sector/Industry)

<ul><li>New SGX climate-related disclosure requirements based on ISSB's standards are more stringent than current requirements, most notably regarding <em>mandatory</em> Scope 3 emissions reporting.</li><li>The implications for S-REITs are significant. Real Estate is one of the most emissions-intensive sectors, and Scope 3 emissions comprise 85-95% of total emissions for real estate companies.</li><li>Motivated by a strong "business case" for best-in-class climate performance and transparency, many S-REITs are ahead of the curve, evidenced by prominence in climate-related indexes.</li></ul>

New SGX climate-related disclosure requirements based on ISSB's standards are more stringent than current requirements, most notably regarding mandatory Scope 3 emissions reporting.The implications for S-REITs are significant. Real Estate is one of the most emissions-intensive sectors, and Scope 3 emissions comprise 85-95% of total emissions for real estate companies.Motivated by a strong "business case" for best-in-class climate performance and transparency, many S-REITs are ahead of the curve, evidenced by prominence in climate-related indexes.

S-REITs: Climate Disclosures and Inclusion in ESG-Related Equity Indexes

<ul><li>Union Steel co-founder Ang Yew Chye ups stake Digital Core Reit Management also continued to buy back units of Digital Core Reit over three of the four sessions.</li><li>Between Mar 25 and 26, Union Steel Holdings executive director Ang Yew Chye bought 930,000 shares at S$0.47 per share.</li></ul>

Union Steel co-founder Ang Yew Chye ups stake Digital Core Reit Management also continued to buy back units of Digital Core Reit over three of the four sessions.Between Mar 25 and 26, Union Steel Holdings executive director Ang Yew Chye bought 930,000 shares at S$0.47 per share.

Union Steel co-founder Ang Yew Chye ups stake

Singapore

Capitaland Integrated Commercial Trust operates as a retail estate investment trust. The Compnay invests in retail and office properties and integrated developments. Capitaland Integrated Commercial Trust serves clients in Asia Pacific.

Capitaland Integrated Commercial Trust (CICT SP)

Capitaland Integrated Commercial Trust (CICT SP)

REIT Watch - iEdge S-Reit Index vies for portfolio positioning

10 largest weights of the iEdge S-Reit Index THE FTSE EPRA Nareit Developed Index is designed to track the performance of listed real estate...

Singapore Exchange Ltd (SGX)

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)

Plato Capital chairman Lim Kian Onn boosts his stake

Plato Capital chairman Lim Kian Onn boosts his stake Digital Core Reit Management bought back 210,000 units of Digital Core Reit. On Apr 12, Plato...

Singapore Exchange Ltd (SGX)

Union Steel co-founder Ang Yew Chye ups stake

Union Steel co-founder Ang Yew Chye ups stake Digital Core Reit Management also continued to buy back units of Digital Core Reit over three of the...

Singapore Exchange Ltd (SGX)

REIT Watch - iEdge S-Reit Index vies for portfolio positioning

10 largest weights of the iEdge S-Reit Index THE FTSE EPRA Nareit Developed Index is designed to track the performance of listed real estate...

Singapore Exchange Ltd (SGX)

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)

Plato Capital chairman Lim Kian Onn boosts his stake

Plato Capital chairman Lim Kian Onn boosts his stake Digital Core Reit Management bought back 210,000 units of Digital Core Reit. On Apr 12, Plato...

Singapore Exchange Ltd (SGX)

S-REITs: Climate Disclosures and Inclusion in ESG-Related Equity Indexes

​New SGX climate-related disclosure requirements based on ISSB's standards are more stringent than current requirements, most notably regarding...

Kyle Rudden

Union Steel co-founder Ang Yew Chye ups stake

Union Steel co-founder Ang Yew Chye ups stake Digital Core Reit Management also continued to buy back units of Digital Core Reit over three of the...

Singapore Exchange Ltd (SGX)

New SGX climate-related disclosure requirements based on ISSB's standards are more stringent than current requirements, most notably regarding...