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>REIT Watch - Hospitality S-Reits record 21% DPU growth in FY2023 The five hospitality trusts recorded, on average, 21 per cent yoy growth in FY2023 DPU.</li><li>Four of the trusts – ARA US Hospitality Trust (ARA H-Trust), CapitaLand Ascott Trust (Clas), CDL Hospitality Trusts (CDLHT) and Far East Hospitality Trust (FEHT) – reported full-year FY2023 earnings ending Dec 31, 2023.</li></ul>

REIT Watch - Hospitality S-Reits record 21% DPU growth in FY2023 The five hospitality trusts recorded, on average, 21 per cent yoy growth in FY2023 DPU.Four of the trusts – ARA US Hospitality Trust (ARA H-Trust), CapitaLand Ascott Trust (Clas), CDL Hospitality Trusts (CDLHT) and Far East Hospitality Trust (FEHT) – reported full-year FY2023 earnings ending Dec 31, 2023.

REIT Watch - Hospitality S-Reits record 21% DPU growth in FY2023

10 in 10 with CDL Hospitality Trusts - Taking a Long-Term View on Singapore

SIA Engineering Company / Equity Bottom-Up

<ul><li>Singapore received over 9 million tourist arrivals from the start of 2023 to end August, a 204.5% year-on-year increase.</li><li>The 10 most actively traded stocks in the tourism and hospitality sectors have booked net institutional inflows of S$2 million, and returned an average 2.3% total returns in the year-to-date ending 21 Sep.</li><li>International visitor arrivals to Singapore in August dipped slightly to 31 million in August, due to seasonality and after school holidays.</li></ul>

Singapore received over 9 million tourist arrivals from the start of 2023 to end August, a 204.5% year-on-year increase.The 10 most actively traded stocks in the tourism and hospitality sectors have booked net institutional inflows of S$2 million, and returned an average 2.3% total returns in the year-to-date ending 21 Sep.International visitor arrivals to Singapore in August dipped slightly to 31 million in August, due to seasonality and after school holidays.

Tourism & Hospitality stocks poised to benefit from F1 and large scale events in coming months

<ul><li>5 S-Reits with year-on-year improvements in H1 2023 DPU Among them, 10 S-Reits reported higher year-on-year (yoy) net property income (NPI) for the half-year period ended Jun 30, 2023.</li><li>CDL Hospitality Trusts’ H1 2023 NPI increased by 23.3 per cent yoy, largely attributed to Singapore, Japan, Australia, Europe and UK markets.</li></ul>

5 S-Reits with year-on-year improvements in H1 2023 DPU Among them, 10 S-Reits reported higher year-on-year (yoy) net property income (NPI) for the half-year period ended Jun 30, 2023.CDL Hospitality Trusts’ H1 2023 NPI increased by 23.3 per cent yoy, largely attributed to Singapore, Japan, Australia, Europe and UK markets.

REIT Watch - Hospitality trusts report higher DPU for H1 2023

Far East Hospitality Trust / Equity Bottom-Up

<ul><li>10 S-Reits buck the trend despite Reits lagging in June The month of June (till Jun 28, 2023) saw the iEdge S-Reit index record flattish performance at 0.3 per cent total returns for the month, improving from the 3.0 per cent declines in May.</li><li>The 10 best performing S-Reits for the month of June (till Jun 28, 2023) averaged over 7 per cent in total returns.</li></ul>

10 S-Reits buck the trend despite Reits lagging in June The month of June (till Jun 28, 2023) saw the iEdge S-Reit index record flattish performance at 0.3 per cent total returns for the month, improving from the 3.0 per cent declines in May.The 10 best performing S-Reits for the month of June (till Jun 28, 2023) averaged over 7 per cent in total returns.

REIT Watch - 10 S-REITs buck the trend despite REITs lagging in June

Singapore

CDL Hospitality Trusts is a stapled group that invests in a diversified global portfolio of income-producing real estate for hospitality, hospitality-related, and other accommodation purposes, including hotels, resorts, student accommodation, and build-to-rent apartments. Its portfolio includes 22 properties across eight countries. The company is headquartered in Singapore and was founded in 2006.

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CDL Hospitality (CDREIT SP)

REIT Watch - Hospitality S-Reits record 21% DPU growth in FY2023

REIT Watch - Hospitality S-Reits record 21% DPU growth in FY2023 The five hospitality trusts recorded, on average, 21 per cent yoy growth in...

Singapore Exchange Ltd (SGX)

10 in 10 with CDL Hospitality Trusts - Taking a Long-Term View on Singapore

10 in 10 with CDL Hospitality Trusts - Taking a Long-Term View on Singapore

Singapore Exchange Ltd (SGX)

Tourism & Hospitality stocks poised to benefit from F1 and large scale events in coming months

Singapore received over 9 million tourist arrivals from the start of 2023 to end August, a 204.5% year-on-year increase. The 10 most actively...

Singapore Exchange Ltd (SGX)

REIT Watch - Hospitality trusts report higher DPU for H1 2023

5 S-Reits with year-on-year improvements in H1 2023 DPU Among them, 10 S-Reits reported higher year-on-year (yoy) net property income (NPI) for...

Singapore Exchange Ltd (SGX)

REIT Watch - 10 S-REITs buck the trend despite REITs lagging in June

10 S-Reits buck the trend despite Reits lagging in June The month of June (till Jun 28, 2023) saw the iEdge S-Reit index record flattish...

Singapore Exchange Ltd (SGX)

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