Research from SooChow CSSD Capital Markets (Asia), SCCM Asia Research

SCCM Asia Research

Research from SooChow CSSD Capital Markets (Asia)

Headquartered in Singapore, SooChow CSSD Capital Markets (Asia) is an investment bank focusing on emerging growth companies across Asia, providing a full suite of investment banking services, including corporate finance, mergers and acquisitions advisory, equity capital markets, institutional equities sales and trading and equities research.

SooChow CSSD Capital Markets (Asia)

Thematic (Sector/Industry)

<ul><li><a href="https://www.smartkarma.com/entities/ascendas-india-trust" target="_blank" data-smartkarma-citation="entities:935" rel="noopener">Ascendas India Trust (AIT SP)</a> to invest in two additional industrial facilities at Chennai</li><li>Condominium saw rents rising by 2.1% MoM in Jun22</li><li>Retail sales normalizing to pre-pandemic levels but risk of recession persists</li></ul>

Ascendas India Trust (AIT SP) to invest in two additional industrial facilities at ChennaiCondominium saw rents rising by 2.1% MoM in Jun22Retail sales normalizing to pre-pandemic levels but risk of recession persists

ASEAN Builder's Scoop (15Jul22) - AIT to Add 2 Industrial Facilities at Chennai

<ul><li><a href="https://www.smartkarma.com/entities/vgo-corp-ltd" target="_blank" data-smartkarma-citation="entities:20687" rel="noopener">Hatten Land (HATT SP)</a> to rebrand Melaka mall into e-sports hub</li><li>KPMG moves to Asia Square Tower 2; ByteDance in negotiations to lease space in Capital Tower</li><li>East Village strata owners band together to sell their units for S$83m</li></ul>

Hatten Land (HATT SP) to rebrand Melaka mall into e-sports hubKPMG moves to Asia Square Tower 2; ByteDance in negotiations to lease space in Capital TowerEast Village strata owners band together to sell their units for S$83m

ASEAN Builder's Scoop (14Apr22) - HATT Rebrands Melaka Mall into E-Sports Hub

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.

§  Ascendas REIT has recently replaced CapitaLand Mall Trust as Singapore's largest capitalised REIT – and has been the second-best performing REIT in the YTD with an 11.9% total return.§  The capitalisation of Singapore’s REIT Sector has almost doubled over the past five years. Singapore’s REIT Sector also maintains a competitive edge with higher average yields and lower average gearing ratios than the combined REIT Sector of Japan, Australia and Hong Kong. §  The NikkoAM - StraitsTrading Asia ex Japan REIT ETF  which is expected to include up to 70% weightage in Singapore REITs is scheduled to list on SGX on 29 March 2017. Ascendas REIT and CapitaLand Mall Trust are expected to maintain relatively large weightings in the ETF.

§  Ascendas REIT has recently replaced CapitaLand Mall Trust as Singapore's largest capitalised REIT – and has been the second-best performing REIT in the YTD with an 11.9% total return.§  The capitalisation of Singapore’s REIT Sector has almost doubled over the past five years. Singapore’s REIT Sector also maintains a competitive edge with higher average yields and lower average gearing ratios than the combined REIT Sector of Japan, Australia and Hong Kong. §  The NikkoAM - StraitsTrading Asia ex Japan REIT ETF  which is expected to include up to 70% weightage in Singapore REITs is scheduled to list on SGX on 29 March 2017. Ascendas REIT and CapitaLand Mall Trust are expected to maintain relatively large weightings in the ETF. 

Ascendas REIT Is Now Singapore's Largest Capitalised REIT

<ul>
<li>SGX’s Real Estate Developers and Operators have returned 12% YTD, outperforming the STI’s +8%. Despite the rally, the price-to-book ratio of the Sector is still trading near one standard deviation below its historical mean.</li>
<li>
Potential drivers for the Singapore property market exist on both the supply and demand front. The biggest Real Estate Developer stocks with substantial Singapore exposure include UOL Group, United Industrial Corporation, Wheelock Properties, Wing Tai Holdings and Bukit…</li>
</ul>


SGX’s Real Estate Developers and Operators have returned 12% YTD, outperforming the STI’s +8%. Despite the rally, the price-to-book ratio of the Sector is still trading near one standard deviation below its historical mean.

Potential drivers for the Singapore property market exist on both the supply and demand front. The biggest Real Estate Developer stocks with substantial Singapore exposure include UOL Group, United Industrial Corporation, Wheelock Properties, Wing Tai Holdings and Bukit…


Real Estate Sector Outperformed in the Year to Date

Deciphering real estate markets globally., Rems Advisors

TAN Kok Keong

Deciphering real estate markets globally.

Rems Advisors

<h2>Rental continues on its moderate recovery path</h2>As at 4th quarter 2016, the serviced apartment rental in Yangon increased by 0.3% quarter-on-quarter (q-o-q) and 0.1% year-on-year to US$5,583 per month.  As compared to the peak in 1Q2015, the overall rent has declined by 6.7%.  While rent has weakened compare with previous peak levels, serviced apartments are still relatively expensive in Yangon if it is compared against other emerging market. The average rent of 1-bedroom was about US$4,000 per…

Rental continues on its moderate recovery pathAs at 4th quarter 2016, the serviced apartment rental in Yangon increased by 0.3% quarter-on-quarter (q-o-q) and 0.1% year-on-year to US$5,583 per month.  As compared to the peak in 1Q2015, the overall rent has declined by 6.7%.  While rent has weakened compare with previous peak levels, serviced apartments are still relatively expensive in Yangon if it is compared against other emerging market. The average rent of 1-bedroom was about US$4,000 per…

Yangon Serviced Apartment Sector Remains the Most Attractive Sector

Indonesia

PT Jaya Real Property Tbk develops residential properties in South Jakarta. The Company also manages commercial properties such as Slipi Shopping Mall, Senen Blocks IV and V Shopping Malls, and Bintaro Jaya Plaza.

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Jaya Real Property (JRPT IJ)

ASEAN Builder's Scoop (15Jul22) - AIT to Add 2 Industrial Facilities at Chennai

Resi condo rents +2.1% MoM in Jun22; Retail sales normalize to pre-pandemic levels; JRPT plans for IDR100bn shares buyback; TRCB generates...

SCCM Asia Research

ASEAN Builder's Scoop (14Apr22) - HATT Rebrands Melaka Mall into E-Sports Hub

KPMG moves to Asia Square Tower 2 and ByteDance talks with Capital Tower; East Village to sell units for S$83m; JRPT buys back IDR100bn; Ascott...

SCCM Asia Research

Ascendas REIT Is Now Singapore's Largest Capitalised REIT

§ Ascendas REIT has recently replaced CapitaLand Mall Trust as Singapore's largest capitalised REIT – and has been the second-best performing REIT...

Singapore Exchange Ltd (SGX)

Real Estate Sector Outperformed in the Year to Date

SGX’s Real Estate Developers and Operators have returned 12% YTD, outperforming the STI’s +8%. Despite the rally, the price-to-book ratio of the...

Singapore Exchange Ltd (SGX)

Yangon Serviced Apartment Sector Remains the Most Attractive Sector

Rental continues on its moderate recovery pathAs at 4th quarter 2016, the serviced apartment rental in Yangon increased by 0.3% quarter-on-quarter...

TAN Kok Keong

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