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>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

Equity Analyst - Asia Consumer Sector, Investory

Devi Subhakesan

Equity Analyst - Asia Consumer Sector

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

Equity Bottom-Up

<ul>
<li>Singapore’s small- and mid-cap equities have surged over the past month, defying a generally cautious macroeconomic backdrop.</li>
<li>The rally is widely linked to expectations of significant capital inflows from the Monetary Authority of Singapore’s (MAS) Equity Market Development Programme (EQDP).</li>
<li>A firm Singapore dollar and comparatively attractive dividend yields have further supported investor interest in these stocks.</li>
</ul>


Singapore’s small- and mid-cap equities have surged over the past month, defying a generally cautious macroeconomic backdrop.
The rally is widely linked to expectations of significant capital inflows from the Monetary Authority of Singapore’s (MAS) Equity Market Development Programme (EQDP).
A firm Singapore dollar and comparatively attractive dividend yields have further supported investor interest in these stocks.


55 SGX Stocks Up >15% in a Month – EQDP Attracting Investor Attention

ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

<ul>
<li>
<a href="https://www.smartkarma.com/entities/delfi-ltd" target="_blank" data-smartkarma-citation="entities:19714:1" rel="noopener">Delfi Ltd (DELFI SP)</a> saw some impact from the weaker IDR and higher cocoa prices in 1H2024 but prospects for 2H2024 look more promising with less expected disruption.</li>
<li>The company continues to roll out new distribution across modern trade independent and general trade as well as new variants for existing best-selling brands such as Silver Queen chocolate.</li>
<li>The company remains confident that the cocoa price will decline from current levels although it may remain higher than historic levels. Valuations remain attractive. </li>
</ul>



Delfi Ltd (DELFI SP) saw some impact from the weaker IDR and higher cocoa prices in 1H2024 but prospects for 2H2024 look more promising with less expected disruption.
The company continues to roll out new distribution across modern trade independent and general trade as well as new variants for existing best-selling brands such as Silver Queen chocolate.
The company remains confident that the cocoa price will decline from current levels although it may remain higher than historic levels. Valuations remain attractive. 


Delfi Ltd (DELFI SP) - Sweeter Times Ahead?

<ul>
<li>
<a href="https://www.smartkarma.com/entities/delfi-ltd" target="_blank" data-smartkarma-citation="entities:19714:1" rel="noopener">Delfi Ltd (DELFI SP)</a> is Asia's largest confectioner, with circa 50% market share of chocolate in its largest market Indonesia, despite competition from global confectionary players over many years. </li>
<li>The company produces products that are engrained in local tastes but it also produces products in different categories that compete directly with foreign competitors with a local twist. </li>
<li>The negative headwinds from higher cocoa prices have started to stabilise and Delfi has deployed various strategies to offset the impact on packaging and ingredients. </li>
</ul>



Delfi Ltd (DELFI SP) is Asia's largest confectioner, with circa 50% market share of chocolate in its largest market Indonesia, despite competition from global confectionary players over many years. 
The company produces products that are engrained in local tastes but it also produces products in different categories that compete directly with foreign competitors with a local twist. 
The negative headwinds from higher cocoa prices have started to stabilise and Delfi has deployed various strategies to offset the impact on packaging and ingredients. 


Delfi Ltd (DELFI SP) - The Chameleon of Confectionary

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Key points<ul><li>Delfi, the leading chocolate company in Indonesia, is experiencing challenges due to rising cocoa prices</li><li>Despite a decrease in share price, analysts remain optimistic about Delfi's future prospects</li><li>The company's management team is implementing strategic measures to protect profit margins and improve financial performance, with initiatives planned for 2024 expected to mitigate the impact of cocoa price increases</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key pointsDelfi, the leading chocolate company in Indonesia, is experiencing challenges due to rising cocoa pricesDespite a decrease in share price, analysts remain optimistic about Delfi's future prospectsThe company's management team is implementing strategic measures to protect profit margins and improve financial performance, with initiatives planned for 2024 expected to mitigate the impact of cocoa price increasesThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Delfi Ltd (DELFI.SI) - Friday, Mar 29, 2024

Singapore

Delfi Limited is a Singapore-headquartered investment holding company that manufactures, markets, and distributes chocolate confectionery and related consumer products. Its portfolio includes popular brands like SilverQueen, Ceres, Delfi, Goya, and KnickKnacks, primarily serving Indonesia, the Philippines, Singapore, and Malaysia, and exporting to over 10 other countries. The company was incorporated in Singapore in 1984 and is headquartered in Singapore.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Delfi (DELFI SP)

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)

55 SGX Stocks Up >15% in a Month – EQDP Attracting Investor Attention

List of 55 SGX stocks (> USD 100 mn Mkt cap) that appreciated more than 15% in the past month - likely driven by anticipated impact of fund inflows...

Devi Subhakesan

Delfi Ltd (DELFI SP) - Sweeter Times Ahead?

Delfi Ltd (DELFI SP) saw some impact from the weaker IDR and higher cocoa prices in 1H2024 but prospects for 2H2024 look more promising with less...

Angus Mackintosh

Delfi Ltd (DELFI SP) - The Chameleon of Confectionary

Delfi Ltd (DELFI SP) is Asia's largest confectioner, with circa 50% market share of chocolate in its largest market Indonesia, despite competition...

Angus Mackintosh

Delfi Ltd (DELFI.SI) - Friday, Mar 29, 2024

Delfi, the leading chocolate company in Indonesia, is experiencing challenges due to rising cocoa prices. Despite a decrease in share price,...

Value Investors Club (VIC)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)