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.

Thematic (Sector/Industry)

<ul><li>Of the actively traded stocks listed on SGX, Singapore Medical Group saw the biggest jump in volume in August compared to its three-month average volume. The stock also gained 91.4% in August and earlier in the month reported a turnaround net profit of S$0.8 million for 1H2016 compared to a net loss of S$0.1 million in 1H2015.</li></ul><ul><li>
Consumer Staples plays, Sheng Siong Group and Dairy Farm International Holdings were also amongst the 10 actively traded stocks that saw the biggest jump in August volume.…</li></ul>

Of the actively traded stocks listed on SGX, Singapore Medical Group saw the biggest jump in volume in August compared to its three-month average volume. The stock also gained 91.4% in August and earlier in the month reported a turnaround net profit of S$0.8 million for 1H2016 compared to a net loss of S$0.1 million in 1H2015.
Consumer Staples plays, Sheng Siong Group and Dairy Farm International Holdings were also amongst the 10 actively traded stocks that saw the biggest jump in August volume.…

10 Biggest Volume Jumpers in August Spanned Seven Sectors

§ The 10 biggest SGX-listed F&amp;B plays average a market cap of S$3.5 billion, and averaged a 23% gain in the 2016 year through to 26 August. Japfa, Thai Beverage PCL and Jumbo Group were the strongest performers of the 10.§ The next 10 biggest SGX-listed F&amp;B plays average a market cap of S$153 million, and also averaged a 23% gain in the 2016 year through to 26 August. Food Empire Holdings and Katrina Group were the amongst strongest performers of the 10.§ Katrina Group was incorporated in 1995…

§ The 10 biggest SGX-listed F&amp;B plays average a market cap of S$3.5 billion, and averaged a 23% gain in the 2016 year through to 26 August. Japfa, Thai Beverage PCL and Jumbo Group were the strongest performers of the 10.§ The next 10 biggest SGX-listed F&amp;B plays average a market cap of S$153 million, and also averaged a 23% gain in the 2016 year through to 26 August. Food Empire Holdings and Katrina Group were the amongst strongest performers of the 10.§ Katrina Group was incorporated in 1995…

Singapore's Strongest Food & Beverage Stocks in 2016 YTD

Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Equity Bottom-Up

In this review, we compare the two largest food processors in Thailand and favor CPF over TU (Thai Union), the world's biggest seafood company, with five reasons in favor of the former and three in favor of the latter. While slightly more expensive, CPF operates in less political terrain, and its recent deal track record is much better than TU.For investors who can buy less liquid stocks, we actually prefer TVO (soybean meal giant) and CFRESH (a much smaller and opportunistic seafood company than TU). Both of them trade well below market average valuations and have dividend yields of almost 7%. If you prefer only one, we pick TVO because of better demographics and lower risk, since human trafficking concerns have become an issue for all seafood companies operating from Thailand.

In this review, we compare the two largest food processors in Thailand and favor CPF over TU (Thai Union), the world's biggest seafood company, with five reasons in favor of the former and three in favor of the latter. While slightly more expensive, CPF operates in less political terrain, and its recent deal track record is much better than TU.For investors who can buy less liquid stocks, we actually prefer TVO (soybean meal giant) and CFRESH (a much smaller and opportunistic seafood company than TU). Both of them trade well below market average valuations and have dividend yields of almost 7%. If you prefer only one, we pick TVO because of better demographics and lower risk, since human trafficking concerns have become an issue for all seafood companies operating from Thailand.

<ul>
<li>Industry Associations see ongoing transformation of Singapore’s F&amp;B industry as manufacturers look towards innovation, growth, and internationalisation.</li>
<li>The 10 biggest Packaged Foods &amp; Meats stocks in Singapore have averaged a 12.6% total return in the year thus far. This compared to 10.1% for Asia Pacific’s biggest Packaged Foods &amp; Meats stocks and 8.9% for the world’s biggest Packaged Foods &amp; Meats stocks.</li>
<li>
<a href="https://www.smartkarma.com/entities/19714" target="_blank" data-smartkarma-citation="entities:19714:1">Delfi Ltd (DELFI SP)</a>, <a href="https://www.smartkarma.com/entities/15597" target="_blank" data-smartkarma-citation="entities:15597:1">Japfa Ltd (JAP SP)</a>, <a href="https://www.smartkarma.com/entities/20972" target="_blank" data-smartkarma-citation="entities:20972:1">Super Group Ltd (SUPER SP)</a>, <a href="https://www.smartkarma.com/entities/9051" target="_blank" data-smartkarma-citation="entities:9051:1">Yeo Hiap Seng Ltd</a>…</li>
</ul>


Industry Associations see ongoing transformation of Singapore’s F&amp;B industry as manufacturers look towards innovation, growth, and internationalisation.
The 10 biggest Packaged Foods &amp; Meats stocks in Singapore have averaged a 12.6% total return in the year thus far. This compared to 10.1% for Asia Pacific’s biggest Packaged Foods &amp; Meats stocks and 8.9% for the world’s biggest Packaged Foods &amp; Meats stocks.

Delfi Ltd (DELFI SP), Japfa Ltd (JAP SP), Super Group Ltd (SUPER SP), Yeo Hiap Seng Ltd…


Key Drivers of the Packaged Food Industry

Managing Partner at Fresco Capital, Fresco Capital

Tytus Michalski

Managing Partner at Fresco Capital

Fresco Capital

The acquisition of Dollar Shave Club by Unilever for $1B is an inflection point in the Fast Moving Consumer Goods (FMCG) industry. The old formula of relying on research and development, massive marketing spending and traditional distribution channels is being replaced by a new formula. While the disruption of the industry won't happen overnight, there are 3 things to watch out for when looking to identify which companies will be at risk.

The acquisition of Dollar Shave Club by Unilever for $1B is an inflection point in the Fast Moving Consumer Goods (FMCG) industry. The old formula of relying on research and development, massive marketing spending and traditional distribution channels is being replaced by a new formula. While the disruption of the industry won't happen overnight, there are 3 things to watch out for when looking to identify which companies will be at risk. 

Billion Dollar Shave Club & The New FMCG Formula

Thailand

CP ALL PCL operates convenience store chains in Thailand and China.  The Company also owns and operates the a department store chain located primarily in Shanghai city and Chonqing city of China.

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CP ALL PCL (CPALL TB)

10 Biggest Volume Jumpers in August Spanned Seven Sectors

Of the actively traded stocks listed on SGX, Singapore Medical Group saw the biggest jump in volume in August compared to its three-month average...

Singapore Exchange Ltd (SGX)

Singapore's Strongest Food & Beverage Stocks in 2016 YTD

§ The 10 biggest SGX-listed F&B plays average a market cap of S$3.5 billion, and averaged a 23% gain in the 2016 year through to 26 August....

Singapore Exchange Ltd (SGX)

Food Fight: CPF Vs TU

In this review, we compare the two largest food processors in Thailand and favor CPF over TU (Thai Union), the world's biggest seafood company,...

Athaporn Arayasantiparb, CFA

Key Drivers of the Packaged Food Industry

Industry Associations see ongoing transformation of Singapore’s F&B industry as manufacturers look towards innovation, growth, and...

Singapore Exchange Ltd (SGX)

Billion Dollar Shave Club & The New FMCG Formula

The acquisition of Dollar Shave Club by Unilever for $1B is an inflection point in the Fast Moving Consumer Goods (FMCG) industry. The old...

Tytus Michalski

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