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>Yangzijiang Shipbuilding led STI constituents in August with a 22.5% rally, record 1H26 net profit, and increased order-book growth.</li><li>Institutional flows rotated towards developers, with Hongkong Land, City Developments, and UOL accounting for 95% of S$127 million improvement.</li><li>Frencken announced a S$100 million placement for business expansion, manufacturing capacity, and strategic investments, reflecting sector demand trends.</li></ul>

Yangzijiang Shipbuilding led STI constituents in August with a 22.5% rally, record 1H26 net profit, and increased order-book growth.Institutional flows rotated towards developers, with Hongkong Land, City Developments, and UOL accounting for 95% of S$127 million improvement.Frencken announced a S$100 million placement for business expansion, manufacturing capacity, and strategic investments, reflecting sector demand trends.

August Focus: Macro Resilience, Micro Efficiency and Earnings Delivery

Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>RHB anticipates Info-Tech will gain from the government's AI initiatives.</li><li>DBS's Mittal keeps 'buy' rating on Singtel after Gulf Development stake sale.</li><li>UOB Kay Hian maintains 'buy' on Food Empire, target price at $3.49.</li></ul>

RHB anticipates Info-Tech will gain from the government's AI initiatives.DBS's Mittal keeps 'buy' rating on Singtel after Gulf Development stake sale.UOB Kay Hian maintains 'buy' on Food Empire, target price at $3.49.

Singapore Market Roundup (23-Jun-2026): RHB expects Info-Tech to benefit from government AI plans.

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/first-resources-ltd">First Resources</a> is a leading, integrated palm oil producer in Indonesia with a strong growth trajectory, evidenced by a 57% YoY increase in FY25 core PATMI.</li>
  <li>The company has a positive outlook for FY26, with an expected 5%-10% growth in Fresh Fruit Bunch (FFB) output, although earnings may be tempered by potentially lower Crude Palm Oil (CPO) prices.</li>
  <li>A revised dividend policy, with a potential payout of up to 60% of underlying profits from FY26, signals a strong commitment to enhancing shareholder returns, supported by a high dividend score of 5/5.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  
First Resources is a leading, integrated palm oil producer in Indonesia with a strong growth trajectory, evidenced by a 57% YoY increase in FY25 core PATMI.
  The company has a positive outlook for FY26, with an expected 5%-10% growth in Fresh Fruit Bunch (FFB) output, although earnings may be tempered by potentially lower Crude Palm Oil (CPO) prices.
  A revised dividend policy, with a potential payout of up to 60% of underlying profits from FY26, signals a strong commitment to enhancing shareholder returns, supported by a high dividend score of 5/5.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: First Resources (FR SP) - Apr 2026

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

<ul>
<li>We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Five stocks remain, nine stocks added into portfolio</li>
<li>Since its inception, the portfolio has generated a before-fee total return of 333% versus MSCI ASEAN’s 83%</li>
</ul>


We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology
Portfolio changes: Five stocks remain, nine stocks added into portfolio
Since its inception, the portfolio has generated a before-fee total return of 333% versus MSCI ASEAN’s 83%


Private Wealth Management and Asset Management., FPA Financial

FPA Financial

Private Wealth Management and Asset Management.

FPA Financial is an independent and boutique financial firm specializing in private wealth management and asset management.

<ul><li>Palm oil is an edible oil with a variety of uses, including in food, consumer products, and as biodiesel feedstock.</li><li>One growing use is biodiesel, with Indonesian domestic consumption of palm oil for biodiesel exceeding that for food in around June 2023.</li><li>Accordingly, Crude Palm Oil (“CPO”) prices have been showing some correlation with crude oil prices, such that the recent rise in crude oil prices amid the ongoing U.S.-Israeli war against Iran may have raised CPO prices.</li></ul>

Palm oil is an edible oil with a variety of uses, including in food, consumer products, and as biodiesel feedstock.One growing use is biodiesel, with Indonesian domestic consumption of palm oil for biodiesel exceeding that for food in around June 2023.Accordingly, Crude Palm Oil (“CPO”) prices have been showing some correlation with crude oil prices, such that the recent rise in crude oil prices amid the ongoing U.S.-Israeli war against Iran may have raised CPO prices.

Singapore

First Resources is a leading palm oil producer involved in cultivating oil palms, harvesting fresh fruit bunches, and milling them into crude palm oil and palm kernel. The company further processes these into higher-value palm-based products such as biodiesel, refined palm oil, and palm kernel oil. Headquartered in Singapore, the company was founded in 1992.

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First Resources (FR SP)

August Focus: Macro Resilience, Micro Efficiency and Earnings Delivery

Yangzijiang Shipbuilding led STI constituents in August with a 22.5% rally, record 1H26 net profit, and increased order-book growth. Institutional...

Singapore Exchange Ltd (SGX)

Singapore Market Roundup (23-Jun-2026): RHB expects Info-Tech to benefit from government AI plans.

RHB expects Info-Tech to benefit from government AI initiatives. DBS's Mittal maintains 'buy' on Singtel post Gulf Development stake sale; UOB Kay...

Singapore Market Roundup

Primer: First Resources (FR SP) - Apr 2026

First Resources is a leading, integrated palm oil producer in Indonesia with a strong growth trajectory, evidenced by a 57% YoY increase in...

αSK Primers

The Stocks to Own in ASEAN – Vol. 56

We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology. Portfolio changes: Five stocks remain; nine stocks were...

A. Stotz Investment Research

Palm Oil Sector Report (21 August 2026)

Palm oil is an edible oil with a variety of uses, including in food, consumer products, and as biodiesel feedstock. One growing use is biodiesel,...

FPA Financial

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