Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>This guide is part of a series of M&amp;A guides our Quiddity* team are publishing to aid investors in understanding the rules, parameters, possibilities, and processes when companies conduct M&amp;A.</li>
<li>The initial guide, <a href="https://www.smartkarma.com/compose/insight/219720/Quiddity%20Hong%20Kong%20M&amp;A%20Guide%202019.%20Read%20more:%20https:/skr.ma/7bVPk" target="_blank" rel="noopener">Quiddity Hong Kong M&amp;A Guide 2019</a>, was published in April 2019. Since that time, there have been various new developments. </li>
<li>This is an update. These insights are designed to be used as a reference. They are not actionable. For a list of Quiddity M&amp;A Guides, click <a href="https://www.smartkarma.com/search?q=%22quiddity%20M%26A%20Guide%22" target="_blank" rel="noopener">here</a>.</li>
</ul>


This guide is part of a series of M&amp;A guides our Quiddity* team are publishing to aid investors in understanding the rules, parameters, possibilities, and processes when companies conduct M&amp;A.
The initial guide, Quiddity Hong Kong M&amp;A Guide 2019, was published in April 2019. Since that time, there have been various new developments. 
This is an update. These insights are designed to be used as a reference. They are not actionable. For a list of Quiddity M&amp;A Guides, click here.


Mid-market focused investment bank within SE Asia, Evolve Capital Advisory Pte Ltd

Evolve Capital Research

Mid-market focused investment bank within SE Asia

Evolve Capital Advisory Pte Ltd

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/soon-hock-enterprise-holding-pte-ltd" target="_blank" data-smartkarma-citation="entities:45970:1" rel="noopener">Soon Hock Enterprise Holding (SHOCK SP)</a> is an established real estate developer that undertakes property development and property investment in Singapore.</li>
<li>The Group’s management has been involved in the launch of more than 1,200 units of strata-titled industrial properties in Singapore, achieving a total Gross Development Value (GDV) of S$1bn.</li>
<li>We initiate coverage on Soon Hock Enterprise with a RNAV-based TP of S$0.74, representing an upside of 27.6%.</li>
</ul>



Soon Hock Enterprise Holding (SHOCK SP) is an established real estate developer that undertakes property development and property investment in Singapore.
The Group’s management has been involved in the launch of more than 1,200 units of strata-titled industrial properties in Singapore, achieving a total Gross Development Value (GDV) of S$1bn.
We initiate coverage on Soon Hock Enterprise with a RNAV-based TP of S$0.74, representing an upside of 27.6%.


Soon Hock Enterprise Initiation - Established Player with Consistent Execution

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.

<ul><li>Success More Group sold 42 million China Sunsine shares for S$27.7 million, reducing its stake to 57.2%.</li><li>The iEdge Next 50 Index's technology stocks recorded S$179 million net institutional inflow in 2H25, led by iFAST.</li><li>China Sunsine's ADT increased to S$606k in 2025, with a 10.4% ROE and 7.6x P/E ratio.</li></ul>

Success More Group sold 42 million China Sunsine shares for S$27.7 million, reducing its stake to 57.2%.The iEdge Next 50 Index's technology stocks recorded S$179 million net institutional inflow in 2H25, led by iFAST.China Sunsine's ADT increased to S$606k in 2025, with a 10.4% ROE and 7.6x P/E ratio.

Growth in Motion: China Sunsine Married Deal & Next 50 Momentum

<ul><li>Institutions were net buyers of Singapore stocks with a S$57 million inflow, reversing a previous S$167 million outflow.</li><li>Eleven companies conducted share buybacks totaling S$13.6 million; United Overseas Bank led with 300,000 shares at S$34.57.</li><li>CapitaLand India Trust's 3Q 2025 update is due Oct 31; recent divestments aim to enhance financial flexibility.</li></ul>

Institutions were net buyers of Singapore stocks with a S$57 million inflow, reversing a previous S$167 million outflow.Eleven companies conducted share buybacks totaling S$13.6 million; United Overseas Bank led with 300,000 shares at S$34.57.CapitaLand India Trust's 3Q 2025 update is due Oct 31; recent divestments aim to enhance financial flexibility.

Real Estate Directors Continue to Build Interests

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

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

Research Reinvented

<ul>
 <li>
<a href="https://smartkarma.com/entities/centurion-corp-ltd">Centurion Corp</a> is a leading owner-operator of specialized accommodation, focusing on Purpose-Built Worker Accommodation (PBWA) in Singapore and Malaysia, and Purpose-Built Student Accommodation (PBSA) in the UK, Australia, and other markets.</li>
 <li>The company is poised for growth, driven by strong secular tailwinds in both its core segments, including regulatory pushes for higher quality worker dormitories and a persistent demand-supply imbalance in student housing in key educational hubs.</li>
 <li>A key strategic initiative is the planned spin-off of a portfolio of its stabilized assets into a REIT, which is expected to unlock significant value, transition the company towards an asset-light model, and enhance shareholder returns through capital recycling and potential special dividends.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
Centurion Corp is a leading owner-operator of specialized accommodation, focusing on Purpose-Built Worker Accommodation (PBWA) in Singapore and Malaysia, and Purpose-Built Student Accommodation (PBSA) in the UK, Australia, and other markets.
  The company is poised for growth, driven by strong secular tailwinds in both its core segments, including regulatory pushes for higher quality worker dormitories and a persistent demand-supply imbalance in student housing in key educational hubs.
  A key strategic initiative is the planned spin-off of a portfolio of its stabilized assets into a REIT, which is expected to unlock significant value, transition the company towards an asset-light model, and enhance shareholder returns through capital recycling and potential special dividends.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Centurion Corp (CENT SP) - Oct 2025

Singapore

Centurion Corporation Limited is a Singapore-based investment holding company that owns, develops, and manages specialized accommodation assets globally. It provides purpose-built worker accommodation under the "Westlite Accommodation" brand and purpose-built student accommodation under the "Dwell" and "EPIISOD" brands, alongside an optical storage media manufacturing business. The company was established in 1981 and is headquartered in Singapore.

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Centurion (CENT SP)

Quiddity M&A Guide 2026: Hong Kong

This guide is part of a series of M&A guides our Quiddity* team are publishing to aid investors in understanding the rules, parameters,...

David Blennerhassett

Soon Hock Enterprise Initiation - Established Player with Consistent Execution

Soon Hock Enterprise Holding (SHOCK SP) is an established real estate developer that undertakes property development and property investment in...

Evolve Capital Advisory Pte Ltd

Growth in Motion: China Sunsine Married Deal & Next 50 Momentum

Success More Group sold 42 million China Sunsine shares for S$27.7 million, reducing its stake to 57.2%. The iEdge Next 50 Index's technology...

Singapore Exchange Ltd (SGX)

Real Estate Directors Continue to Build Interests

Institutions were net buyers of Singapore stocks with a S$57 million inflow, reversing a previous S$167 million outflow. Eleven companies...

Singapore Exchange Ltd (SGX)

Primer: Centurion Corp (CENT SP) - Oct 2025

Centurion Corp is a leading owner-operator of specialized accommodation, focusing on Purpose-Built Worker Accommodation (PBWA) in Singapore and...

αSK Primers

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