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

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 <img src='https://api2.sgx.com/sites/default/files/2022-05/Capture_4.PNG' alt='S-Reits with significant Singapore-based retail assets' />
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 <div class='content-caption'>S-Reits with significant Singapore-based retail assets</div>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd">
<html><body>Singapore focused office S-Reits remain poised to benefit as more employees return to the office. The Urban Redevelopment Authority (URA) office rental index in the Central Region grew 1.6 per cent and for a second consecutive quarter in Q1 2022 driven by limited supply. 
CBRE Research also expects Core Central Business District (CBD) rents to increase by 6.9 per cent year on year for the whole of 2022. 
SGX lists 6 S-Reits with exposure to Singapore-based office assets. Keppel REIT is a pure-play office S-REIT while CapitaLand Integrated Commercial Trust (CICT), Mapletree Commercial Trust (MCT), Suntec REIT, OUE Commercial REIT and Lendlease Global Commercial REIT are diversified S-REITs with exposure to Singapore office properties. 
Keppel Reit reported a 4.3 per cent year-on-year growth in distributable income for Q1 2022 mainly from its acquisition of Keppel Bay Tower last year. 
Most of its new leases for Q1 2022 were in Singapore (Ocean Financial Centre, Marina Bay Financial Centre, and One Raffles Quay), with average signing rent for Singapore office leases at S$11.15 psf pm, higher than Singapore’s average core CBD Grade A office rents (S$10.95 psf pm). 
CICT reported improved portfolio occupancy of 92.3 per cent in its Singapore portfolio and has seen a 9.3 per cent increase in rent reversion in Q1 2022. 
CICT most recently completed its acquisition of a 70 per cent interest in CapitaSky (formerly known as 79 Robinson Road) which has a committed occupancy of 92.9 per cent and net property income yield of 4 per cent. 
MCT reported that its FY21/22 gross revenue from office/business park assets grew 1.9 per cent year on year driven by higher contributions from Mapletree Business City, mTower and MLHF. All its office/business park assets reported strong occupancy rates, with mTower observing significant growth from 75 per cent to 84.7 per cent. 
Mapletree Anson closed its transitional vacancy as it reported full commitment. MCT expects positive leasing momentum for office/business park to continue through to the new financial year. 
Suntec Reit saw its office committed occupancy strengthen to 97.5 per cent and recorded a 3.2 per cent increase in rent reversion for FY21. 
The Reit noted income contribution from its Singapore office portfolio is expected to grow, driven by cumulative positive rent reversions achieved in the past 11 quarters and full impact of revenue from leases committed in 2021. 
OUE Commercial Reit noted that average passing rents of its Singapore office properties were higher year on year, with OUE Bayfront hitting a high of S$12.49 psf. 
Its office properties were observed to record higher valuations ranging from 0.2 to 7.5 per cent year on year, compared to its other segments. 
Lendlease Global Commercial Reit completed its 100 per cent direct interest in Jem. Its Jem office component is fully leased to the Ministry of National Development on a 30-year master lease with a rent review every five years. REIT Watch is a weekly column on The Business Times,<a href="https://www.businesstimes.com.sg/companies-markets/tenant-sales-back-at-pre-covid-levels-for-retail-s-reits"> </a><a href="https://www.businesstimes.com.sg/companies-markets/singapore-based-office-s-reits-report-improved-metrics-and-higher-rents">read </a>the original version.</body></html>


      
    
    S-Reits with significant Singapore-based retail assets

Singapore focused office S-Reits remain poised to benefit as more employees return to the office. The Urban Redevelopment Authority (URA) office rental index in the Central Region grew 1.6 per cent and for a second consecutive quarter in Q1 2022 driven by limited supply.  
CBRE Research also expects Core Central Business District (CBD) rents to increase by 6.9 per cent year on year for the whole of 2022.  
SGX lists 6 S-Reits with exposure to Singapore-based office assets. Keppel REIT is a pure-play office S-REIT while CapitaLand Integrated Commercial Trust (CICT), Mapletree Commercial Trust (MCT), Suntec REIT, OUE Commercial REIT and Lendlease Global Commercial REIT are diversified S-REITs with exposure to Singapore office properties.  
Keppel Reit reported a 4.3 per cent year-on-year growth in distributable income for Q1 2022 mainly from its acquisition of Keppel Bay Tower last year.  
Most of its new leases for Q1 2022 were in Singapore (Ocean Financial Centre, Marina Bay Financial Centre, and One Raffles Quay), with average signing rent for Singapore office leases at S$11.15 psf pm, higher than Singapore’s average core CBD Grade A office rents (S$10.95 psf pm).  
CICT reported improved portfolio occupancy of 92.3 per cent in its Singapore portfolio and has seen a 9.3 per cent increase in rent reversion in Q1 2022.  
CICT most recently completed its acquisition of a 70 per cent interest in CapitaSky (formerly known as 79 Robinson Road) which has a committed occupancy of 92.9 per cent and net property income yield of 4 per cent.  
MCT reported that its FY21/22 gross revenue from office/business park assets grew 1.9 per cent year on year driven by higher contributions from Mapletree Business City, mTower and MLHF. All its office/business park assets reported strong occupancy rates, with mTower observing significant growth from 75 per cent to 84.7 per cent.  
Mapletree Anson closed its transitional vacancy as it reported full commitment. MCT expects positive leasing momentum for office/business park to continue through to the new financial year.  
Suntec Reit saw its office committed occupancy strengthen to 97.5 per cent and recorded a 3.2 per cent increase in rent reversion for FY21.  
The Reit noted income contribution from its Singapore office portfolio is expected to grow, driven by cumulative positive rent reversions achieved in the past 11 quarters and full impact of revenue from leases committed in 2021.  
OUE Commercial Reit noted that average passing rents of its Singapore office properties were higher year on year, with OUE Bayfront hitting a high of S$12.49 psf.  
Its office properties were observed to record higher valuations ranging from 0.2 to 7.5 per cent year on year, compared to its other segments.  
Lendlease Global Commercial Reit completed its 100 per cent direct interest in Jem. Its Jem office component is fully leased to the Ministry of National Development on a 30-year master lease with a rent review every five years.  REIT Watch is a weekly column on The Business Times, read the original version.


REIT Watch - Singapore-based Office S-REITs report improved metrics and higher rents 

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>We summarise the latest spreads and newsflow of merger arb situations covered by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia and the US (ADRs only).</li>
<li>This week, highest gross spreads are <a href="https://www.smartkarma.com/entities/shanghai-dongzheng-automotive-finance-co-ltd" target="_blank" data-smartkarma-citation="entities:27984:1" rel="noopener">Dongzheng Automotive Finance (2718 HK)</a>, <a href="https://www.smartkarma.com/entities/sezzle-inc" target="_blank" data-smartkarma-citation="entities:30969:1" rel="noopener">Sezzle Inc (SZL AU)</a>, <a href="https://www.smartkarma.com/entities/21-vianet-group-inc-adr" target="_blank" data-smartkarma-citation="entities:8489:1" rel="noopener">21Vianet Group (VNET US)</a>, <a href="https://www.smartkarma.com/entities/infomedia-ltd" target="_blank" data-smartkarma-citation="entities:11385:1" rel="noopener">Infomedia Ltd (IFM AU)</a>, <a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link Administration Holdings (LNK AU)</a>, Alliance Aviation.</li>
<li>Lowest gross spreads are <a href="https://www.smartkarma.com/entities/virtus-health-ltd" target="_blank" data-smartkarma-citation="entities:14776:1" rel="noopener">Virtus Health (VRT AU)</a>, <a href="https://www.smartkarma.com/entities/china-logistics-property-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:22799:1" rel="noopener">China Logistics Property Holdings (1589 HK)</a>, <a href="https://www.smartkarma.com/entities/uniti-group-ltd" target="_blank" data-smartkarma-citation="entities:29042:1" rel="noopener">Uniti Group Ltd (UWL AU)</a>, <a href="https://www.smartkarma.com/entities/mapletree-north-asia-commercial-trust" target="_blank" data-smartkarma-citation="entities:5127:1" rel="noopener">Mapletree North Asia Commercial Trust (MAGIC SP)</a>, <a href="https://www.smartkarma.com/entities/irongate-group" target="_blank" data-smartkarma-citation="entities:30897:1" rel="noopener">Irongate Group (IAP AU)</a>.</li>
</ul>


We summarise the latest spreads and newsflow of merger arb situations covered by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia and the US (ADRs only).
This week, highest gross spreads are Dongzheng Automotive Finance (2718 HK), Sezzle Inc (SZL AU), 21Vianet Group (VNET US), Infomedia Ltd (IFM AU), Link Administration Holdings (LNK AU), Alliance Aviation.
Lowest gross spreads are Virtus Health (VRT AU), China Logistics Property Holdings (1589 HK), Uniti Group Ltd (UWL AU), Mapletree North Asia Commercial Trust (MAGIC SP), Irongate Group (IAP AU).


Merger Arb Mondays (16 May) - Link Admin, Infomedia, VNET, Alliance Aviation, Ramsay, Link Net

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>There are 37 - mostly firm - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.</li>
<li>Three news deals this week: <a href="https://www.smartkarma.com/entities/mindtree-ltd" target="_blank" data-smartkarma-citation="entities:7297:1" rel="noopener">Mindtree Ltd (MTCL IN)</a>/ <a href="https://www.smartkarma.com/entities/larsen-toubro-infotech-ltd" target="_blank" data-smartkarma-citation="entities:22778:1" rel="noopener">Larsen &amp; Toubro Infotech (LTI IN)</a>'s  merger, <a href="https://www.smartkarma.com/entities/comany-inc" target="_blank" data-smartkarma-citation="entities:15602:1" rel="noopener">Comany Inc (7945 JP)</a> 's MBO, <a href="https://www.smartkarma.com/entities/infomedia-ltd" target="_blank" data-smartkarma-citation="entities:11385" rel="noopener">Infomedia Ltd (IFM AU)</a>'s proposal from TA/Viburnum Funds.</li>
<li>Key updates took place for: <a href="https://www.smartkarma.com/entities/agl-energy-ltd" target="_blank" data-smartkarma-citation="entities:554:1" rel="noopener">AGL Energy Ltd (AGL AU)</a>, <a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link Administration Holdings (LNK AU)</a>, <a href="https://www.smartkarma.com/entities/virtus-health-ltd" target="_blank" data-smartkarma-citation="entities:14776:1" rel="noopener">Virtus Health (VRT AU)</a>, <a href="https://www.smartkarma.com/entities/link-net-tbk-pt" target="_blank" data-smartkarma-citation="entities:1050:1" rel="noopener">Link Net (LINK IJ)</a> &amp; <a href="https://www.smartkarma.com/entities/beijing-enterprises-urban-re" target="_blank" data-smartkarma-citation="entities:29131:1" rel="noopener">Beijing Enterprises Urban Resources (3718 HK)</a>.</li>
</ul>


There are 37 - mostly firm - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Three news deals this week: Mindtree Ltd (MTCL IN)/ Larsen &amp; Toubro Infotech (LTI IN)'s  merger, Comany Inc (7945 JP) 's MBO, Infomedia Ltd (IFM AU)'s proposal from TA/Viburnum Funds.
Key updates took place for: AGL Energy Ltd (AGL AU), Link Administration Holdings (LNK AU), Virtus Health (VRT AU), Link Net (LINK IJ) &amp; Beijing Enterprises Urban Resources (3718 HK).


Asia-Pac Weekly Risk Arb Wrap: Mindtree/Larsen, AGL, Link Admin, Link Net, Comany, Infomedia

Alliance Aviation Services / Event-Driven

<ul>
<li>We summarise the latest spreads and newsflow of merger arb situations covered by us across Hong Kong, Australia, New Zealand, Singapore and the US (Chinese ADRs only).</li>
<li>This week, the highest gross spreads are <a href="https://www.smartkarma.com/entities/shanghai-dongzheng-automotive-finance-co-ltd" target="_blank" data-smartkarma-citation="entities:27984:1" rel="noopener">Dongzheng Automotive Finance (2718 HK)</a>, <a href="https://www.smartkarma.com/entities/yashili-international-holdings-ltd" target="_blank" data-smartkarma-citation="entities:3397:1" rel="noopener">Yashili International Holdings (1230 HK)</a>, <a href="https://www.smartkarma.com/entities/21-vianet-group-inc-adr" target="_blank" data-smartkarma-citation="entities:8489:1" rel="noopener">21Vianet Group (VNET US)</a>, <a href="https://www.smartkarma.com/entities/sezzle-inc" target="_blank" data-smartkarma-citation="entities:30969:1" rel="noopener">Sezzle Inc (SZL AU)</a>, <a href="https://www.smartkarma.com/entities/alliance-aviation-services-ltd" target="_blank" data-smartkarma-citation="entities:20401:1" rel="noopener">Alliance Aviation Services (AQZ AU)</a>. </li>
<li>The lowest gross spreads are <a href="https://www.smartkarma.com/entities/beijing-enterprises-urban-re" target="_blank" data-smartkarma-citation="entities:29131:1" rel="noopener">Beijing Enterprises Urban Resources (3718 HK)</a>, <a href="https://www.smartkarma.com/entities/virtus-health-ltd" target="_blank" data-smartkarma-citation="entities:14776:1" rel="noopener">Virtus Health (VRT AU)</a>, <a href="https://www.smartkarma.com/entities/uniti-group-ltd" target="_blank" data-smartkarma-citation="entities:29042:1" rel="noopener">Uniti Group Ltd (UWL AU)</a>, <a href="https://www.smartkarma.com/entities/china-logistics-property-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:22799:1" rel="noopener">China Logistics Property Holdings (1589 HK)</a>, <a href="https://www.smartkarma.com/entities/irongate-group" target="_blank" data-smartkarma-citation="entities:30897:1" rel="noopener">Irongate Group (IAP AU)</a>. </li>
</ul>


We summarise the latest spreads and newsflow of merger arb situations covered by us across Hong Kong, Australia, New Zealand, Singapore and the US (Chinese ADRs only).
This week, the highest gross spreads are Dongzheng Automotive Finance (2718 HK), Yashili International Holdings (1230 HK), 21Vianet Group (VNET US), Sezzle Inc (SZL AU), Alliance Aviation Services (AQZ AU). 
The lowest gross spreads are Beijing Enterprises Urban Resources (3718 HK), Virtus Health (VRT AU), Uniti Group Ltd (UWL AU), China Logistics Property Holdings (1589 HK), Irongate Group (IAP AU). 


Merger Arb Mondays (9 May) - Alliance Aviation, Ramsay Health, Yashili, VNET, Sezzle, Link

Mapletree Pan Asia Commercial Trust / Equity Bottom-Up

<figure>
 <img src='https://api2.sgx.com/sites/default/files/2022-05/Capture%201.PNG' alt='SREIT' />
 </figure>
 <div class='content-caption'>SREIT</div>
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<html><body>Singapore's retail sales increased 8.7 per cent in March 2022 on a year-on-year basis, a reversal from the 3.5 per cent decrease in February 2022, according to the Singapore Department of Statistics (SingStat). 
Within the retail trade sector, most industries recorded year-on-year sales growth in March 2022. 
Listed on the SGX are 7 S-Reits which have significant exposure to Singapore-based retail assets. 
All seven S-Reits have announced their financial results or business updates this reporting season and they are: CapitaLand Integrated Commercial Trust, Frasers Centrepoint Trust, Lendlease Global Commercial Reit, Mapletree Commercial Trust, SPH Reit, Starhill Global Reit and Suntec Reit. 
CapitaLand Integrated Commercial Trust’s (CICT) net property income (NPI) from its retail assets grew 0.6 per cent year on year to S$101.8 million in Q1 2022. 
Its retail occupancy maintained at 96.6 per cent as at Mar 31, 2022 while tenant retention rate is 91 per cent in Q1 2022. 
Frasers Centrepoint Trust (FCT) reported that its retail portfolio occupancy improved from 97.2 per cent last quarter to 97.8 per cent. 
It noted that shopper traffic has improved to around 65 per cent of pre-Covid levels during the January to March 2022 period while tenants’ sales have maintained at above pre-Covid levels since Oct 2021. 
Lendlease Global Commercial Reit (LReit) noted that its retail portfolio saw strong occupancy rate, maintaining above 99 per cent, with a healthy tenant retention rate of 71.1 per cent 
The Reit completed its capital fundraising exercise to acquire 100 per cent of Jem mall in April 2022. LReit is also confident that 313@somerset will benefit from the re-opening trajectory in Singapore. 
Mapletree Commercial Trust (MCT) saw healthy performance at VivoCity mall, which had a 99.2 per cent committed occupancy as at Mar 31, 2022. 
It noted that, in tandem with easing Covid-19 measures, tenant sales kept a steady recovery momentum with fourth quarter FY21/22 tenant sales rebounding by 10.3 per cent on a year-on-year basis, reaching pre-Covid levels. 
SPH Reit’s Singapore retail assets maintained an occupancy rate of 99.1 per cent as at Feb 28, 2022 and noted that overall tenant sales for the Singapore assets increased 2 per cent year on year for H1 FY2022. 
Starhill Global Reit’s Singapore retail occupancy rates remained at 98.9 per cent as at Mar 31, 2022. Shopper traffic and tenant sales at Wisma Atria increased 11.7 per cent and 18.2 per cent year on year respectively during the quarter. 
Suntec Reit reported 13.9 per cent year-on-year growth in Q1 2022 gross revenue, partly contributed by higher income from Suntec City Office and Suntec City Mall. 
The Reit believes that the easing of Covid-19 pandemic restrictions and the reopening of the economy will boost the recovery of footfall as well as tenant sales and that mall occupancy will likely remain stable at above 95 per cent. REIT Watch is a weekly column on The Business Times,<a href="https://www.businesstimes.com.sg/companies-markets/tenant-sales-back-at-pre-covid-levels-for-retail-s-reits"> read </a>the original version.</body></html>


      
    
    SREIT

Singapore's retail sales increased 8.7 per cent in March 2022 on a year-on-year basis, a reversal from the 3.5 per cent decrease in February 2022, according to the Singapore Department of Statistics (SingStat).  
Within the retail trade sector, most industries recorded year-on-year sales growth in March 2022.  
Listed on the SGX are 7 S-Reits which have significant exposure to Singapore-based retail assets.  
All seven S-Reits have announced their financial results or business updates this reporting season and they are: CapitaLand Integrated Commercial Trust, Frasers Centrepoint Trust, Lendlease Global Commercial Reit, Mapletree Commercial Trust, SPH Reit, Starhill Global Reit and Suntec Reit.  
CapitaLand Integrated Commercial Trust’s (CICT) net property income (NPI) from its retail assets grew 0.6 per cent year on year to S$101.8 million in Q1 2022.  
Its retail occupancy maintained at 96.6 per cent as at Mar 31, 2022 while tenant retention rate is 91 per cent in Q1 2022.  
Frasers Centrepoint Trust (FCT) reported that its retail portfolio occupancy improved from 97.2 per cent last quarter to 97.8 per cent.  
It noted that shopper traffic has improved to around 65 per cent of pre-Covid levels during the January to March 2022 period while tenants’ sales have maintained at above pre-Covid levels since Oct 2021.  
Lendlease Global Commercial Reit (LReit) noted that its retail portfolio saw strong occupancy rate, maintaining above 99 per cent, with a healthy tenant retention rate of 71.1 per cent  
The Reit completed its capital fundraising exercise to acquire 100 per cent of Jem mall in April 2022. LReit is also confident that 313@somerset will benefit from the re-opening trajectory in Singapore.  
Mapletree Commercial Trust (MCT) saw healthy performance at VivoCity mall, which had a 99.2 per cent committed occupancy as at Mar 31, 2022.  
It noted that, in tandem with easing Covid-19 measures, tenant sales kept a steady recovery momentum with fourth quarter FY21/22 tenant sales rebounding by 10.3 per cent on a year-on-year basis, reaching pre-Covid levels.  
SPH Reit’s Singapore retail assets maintained an occupancy rate of 99.1 per cent as at Feb 28, 2022 and noted that overall tenant sales for the Singapore assets increased 2 per cent year on year for H1 FY2022.  
Starhill Global Reit’s Singapore retail occupancy rates remained at 98.9 per cent as at Mar 31, 2022. Shopper traffic and tenant sales at Wisma Atria increased 11.7 per cent and 18.2 per cent year on year respectively during the quarter.  
Suntec Reit reported 13.9 per cent year-on-year growth in Q1 2022 gross revenue, partly contributed by higher income from Suntec City Office and Suntec City Mall.  
The Reit believes that the easing of Covid-19 pandemic restrictions and the reopening of the economy will boost the recovery of footfall as well as tenant sales and that mall occupancy will likely remain stable at above 95 per cent.  REIT Watch is a weekly column on The Business Times, read the original version.


REIT Watch - Tenant sales back at pre-Covid levels for Retail S-Reits

Singapore

Mapletree Pan Asia Commercial Trust is a Singapore-focused real estate investment trust. The Trust invests on a long-term basis, directly or indirectly, in a diversified portfolio of income-producing real estate used primarily for office and/or retail purposes, whether wholly or partially, as well as real estate-related assets.

Mapletree Pan Asia Commercial Trust (MCT SP)

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Mapletree Pan Asia Commercial Trust (MCT SP)

REIT Watch - Singapore-based Office S-REITs report improved metrics and higher rents

Singapore focused office S-Reits remain poised to benefit as more employees return to the office. The Urban Redevelopment...

Singapore Exchange Ltd (SGX)

Merger Arb Mondays (16 May) - Link Admin, Infomedia, VNET, Alliance Aviation, Ramsay, Link Net

This week, the highest gross spreads are Dongzheng AFC (40.7%), Sezzle (36.6%), VNET (33.6%), Infomedia (32.8%), Link Admin (24.4%), Alliance...

Arun George

Asia-Pac Weekly Risk Arb Wrap: Mindtree/Larsen, AGL, Link Admin, Link Net, Comany, Infomedia

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Merger Arb Mondays (9 May) - Alliance Aviation, Ramsay Health, Yashili, VNET, Sezzle, Link

This week, the highest gross spreads are Dongzheng AFC (52.2%), Yashili (30.4%), VNET (29.0%), Sezzle (18.5%), Alliance Aviation (14.7%), Ramsay...

Arun George

REIT Watch - Tenant sales back at pre-Covid levels for Retail S-Reits

Singapore's retail sales increased 8.7 per cent in March 2022 on a year-on-year basis, a reversal from the 3.5 per cent decrease...

Singapore Exchange Ltd (SGX)

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