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.

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20 Largest China Plays Returned 27% in the YTD

Jardine Strategic Scheduled to Join STI on 18 September

Equity Research Analyst, Maritime sector, Drewry Maritime Financial Research

Ankush Kathuria CFA, FRM

Equity Research Analyst, Maritime sector

Maritime Sector, Equity & Credit Research

Drewry Maritime Financial Research

With no ties to other players in the shipping, finance or banking world, we provide a uniquely impartial view of the markets and companies we cover. Our parent organization, Drewry is a leading independent provider of research services to the maritime and shipping industry, employing over 100 professionals across an international network of offices in London, Delhi, Singapore and Shanghai. Combining our market-leading resources with seasoned sector expertise DFRS offers a highly differentiated and comprehensive range of investment and financial research services to lenders and prospective investors in publicly listed maritime and shipping companies. The full service of reports, supporting resources and sector orientated webinars provides our clients with the most complete picture of the organisations under coverage as is possible. We have been charting and analysing the world’s maritime markets for more than 40 years. This unrivalled intelligence and understanding provides the foundation of our research service. Our analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.

Equity Bottom-Up

Hutchison Port Holdings / Equity Bottom-Up

<ul><li>
Light at the end of the tunnel, but the walk is long: Hutchison Port Trust (HPHT) reported its 2Q17 results, which revealed more valuation-negatives than we had expected. EBIT for the quarter strengthened 2.0% y/y, from HKD 936.6m to HKD 954.9m, on the back of a 1.5%y/y decrease in revenue to HKD 2,894.3m. At the consolidated level, the Trust handled lower volumes, which then lowers the operating cost. The operating margin climbed from 31.9% to 33.0% on better cost management. While EBITDA…</li></ul>


Light at the end of the tunnel, but the walk is long: Hutchison Port Trust (HPHT) reported its 2Q17 results, which revealed more valuation-negatives than we had expected. EBIT for the quarter strengthened 2.0% y/y, from HKD 936.6m to HKD 954.9m, on the back of a 1.5%y/y decrease in revenue to HKD 2,894.3m. At the consolidated level, the Trust handled lower volumes, which then lowers the operating cost. The operating margin climbed from 31.9% to 33.0% on better cost management. While EBITDA…

Drewry Maritime Research has raised the 2017 global throughput forecast. In particular, US and Europe containerised volumes are expected to accelerate 3.0% and 3.9% this year; a marked improvement from last year’s forward projection of 2.0% and 1.6% respectively. As HPHT has significant trade exposure to the US and Europe, we believe the market is pricing in a strong 2Q17 report card which will be revealed on 19 July 2017.<ul><li>
Volume-driven play.While buoyant macro data in the US and Eurozone lifted…</li></ul>

Drewry Maritime Research has raised the 2017 global throughput forecast. In particular, US and Europe containerised volumes are expected to accelerate 3.0% and 3.9% this year; a marked improvement from last year’s forward projection of 2.0% and 1.6% respectively. As HPHT has significant trade exposure to the US and Europe, we believe the market is pricing in a strong 2Q17 report card which will be revealed on 19 July 2017.
Volume-driven play.While buoyant macro data in the US and Eurozone lifted…

HPHT Clambers Higher on Upbeat Expectations

Singapore

Hutchison Port Holdings Trust is a Singapore-based business trust that invests in, develops, operates, and manages deep-water container ports. It provides cargo handling and port-related services, including trucking, warehousing, and distribution, primarily in the Pearl River Delta of South China, encompassing Hong Kong and Mainland China. The trust was founded in 2011 and is headquartered in Singapore.

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Hutchison Port Holdings (HPHT SP)

20 Largest China Plays Returned 27% in the YTD

Singapore Exchange Ltd (SGX)

FTSE ST China Index up 18% in 2017 YTD

Singapore Exchange Ltd (SGX)

Jardine Strategic Scheduled to Join STI on 18 September

Singapore Exchange Ltd (SGX)

HPHT 2Q17 – Downgrade to Unattractive

Light at the end of the tunnel, but the walk is long: Hutchison Port Trust (HPHT) reported its 2Q17 results, which revealed more...

Drewry Maritime Financial Research

HPHT Clambers Higher on Upbeat Expectations

Drewry Maritime Research has raised the 2017 global throughput forecast. In particular, US and Europe containerised volumes are expected to...

Drewry Maritime Financial Research

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52-week Range

Market Cap (USDm)

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