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>Schedule of S-REITs & Property Trusts’ Earnings or Business Updates Mapletree Logistics Trust 25-Jul 26-Jul  This coming week, another 17 S-Reits and property trusts will be releasing their earnings or business updates for the period ended Jun 30, 2023.</li></ul>

Schedule of S-REITs & Property Trusts’ Earnings or Business Updates Mapletree Logistics Trust 25-Jul 26-Jul  This coming week, another 17 S-Reits and property trusts will be releasing their earnings or business updates for the period ended Jun 30, 2023.

REIT Watch - 17 S-Reits reporting earnings during the week

Frasers Logistics & Commercial Trust / Equity Bottom-Up

Frasers Logistics & Commercial Trust (FLT SP)

<ul><li>S-REITs actively manage impact of rising rates; average ICR at 4.3 times Higher interest rates have typically been associated with higher borrowing costs and therefore lower distributions available for unitholders.</li><li>To hedge the impact of rising rates, S-REITs have been actively managing interest rate exposures.</li></ul>

S-REITs actively manage impact of rising rates; average ICR at 4.3 times Higher interest rates have typically been associated with higher borrowing costs and therefore lower distributions available for unitholders.To hedge the impact of rising rates, S-REITs have been actively managing interest rate exposures.

REIT Watch - S-REITs actively manage impact of rising rates; average ICR at 4.3 times

<ul><li>Top 10 S-Reits & property trusts that gained during the week of FOMC June 2023 meeting Key news last week was the US Federal Reserve’s decision to put a pause on interest rates, keeping them unchanged as announced during this month’s Federal Open Market Committee (FOMC) meeting.</li><li>The top 5 gainers among S-REITs & Property Trusts during the week until Thursday’s close were: Keppel REIT (5.9 per cent), Mapletree Pan Asia Commercial Trust (5.6 per cent), Mapletree Logistics Trust (5.5 per cent), CapitaLand India Trust (4.7 per cent), and CapitaLand Ascendas REIT (3.8 per cent).</li></ul>

Top 10 S-Reits & property trusts that gained during the week of FOMC June 2023 meeting Key news last week was the US Federal Reserve’s decision to put a pause on interest rates, keeping them unchanged as announced during this month’s Federal Open Market Committee (FOMC) meeting.The top 5 gainers among S-REITs & Property Trusts during the week until Thursday’s close were: Keppel REIT (5.9 per cent), Mapletree Pan Asia Commercial Trust (5.6 per cent), Mapletree Logistics Trust (5.5 per cent), CapitaLand India Trust (4.7 per cent), and CapitaLand Ascendas REIT (3.8 per cent).

REIT Watch – S-REITs rally on sigh of relief post June FOMC pause

Mapletree Industrial Trust / Equity Bottom-Up

<ul><li>Among the constituents of the Straits Times Index, three S-Reits are members of the Mapletree family – Mapletree Pan Asia Commercial Trust, Mapletree Logistics Trust, and Mapletree Industrial Trust – and they make up a third of S-Reits’ representation in the index.</li><li>Mapletree Pan Asia Commercial Trust (MPACT) invests primarily in commercial assets for office and retail purposes across five key Asian markets, with total assets under management (AUM) of S$16.6 billion.</li><li>Mapletree Logistics Trust (MLT) invests in logistics assets across nine countries worldwide, with total AUM of S$12.8 billion.</li></ul>

Among the constituents of the Straits Times Index, three S-Reits are members of the Mapletree family – Mapletree Pan Asia Commercial Trust, Mapletree Logistics Trust, and Mapletree Industrial Trust – and they make up a third of S-Reits’ representation in the index.Mapletree Pan Asia Commercial Trust (MPACT) invests primarily in commercial assets for office and retail purposes across five key Asian markets, with total assets under management (AUM) of S$16.6 billion.Mapletree Logistics Trust (MLT) invests in logistics assets across nine countries worldwide, with total AUM of S$12.8 billion.

REIT Watch - Mapletree S-Reits see strong performance amid active acquisitions

<ul><li>S-Reit acquisitions continue with Clar’s S$218 million buy Earlier last week, CapitaLand Ascendas Reit (Clar) announced the proposed acquisition of an integrated high-specification research and development (R&D) facility and business park property from Seagate Singapore International Headquarters for a purchase consideration of S$218.2 million.</li><li>In April, MLT announced the acquisition of six logistics assets located in Japan, and one logistics property in Sydney, Australia.</li></ul>

S-Reit acquisitions continue with Clar’s S$218 million buy Earlier last week, CapitaLand Ascendas Reit (Clar) announced the proposed acquisition of an integrated high-specification research and development (R&D) facility and business park property from Seagate Singapore International Headquarters for a purchase consideration of S$218.2 million.In April, MLT announced the acquisition of six logistics assets located in Japan, and one logistics property in Sydney, Australia.

REIT Watch - S-Reit acquisitions continue with Clar’s S$218 million buy

Singapore

Mapletree Logistics Trust is a Singapore-based real estate investment trust (REIT) that invests in a diversified portfolio of income-producing logistics real estate and related assets across Asia Pacific. It provides logistics spaces and offers services such as leasing, sale & leaseback, asset enhancement, and development. The company is headquartered in Singapore and was founded in 2004.

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Mapletree Logistics (MLT SP)

REIT Watch - 17 S-Reits reporting earnings during the week

Schedule of S-REITs & Property Trusts’ Earnings or Business Updates Mapletree Logistics Trust 25-Jul 26-Jul This coming week, another 17...

Singapore Exchange Ltd (SGX)

REIT Watch - S-REITs actively manage impact of rising rates; average ICR at 4.3 times

S-REITs actively manage impact of rising rates; average ICR at 4.3 times Higher interest rates have typically been associated with higher...

Singapore Exchange Ltd (SGX)

REIT Watch – S-REITs rally on sigh of relief post June FOMC pause

Top 10 S-Reits & property trusts that gained during the week of FOMC June 2023 meeting Key news last week was the US Federal Reserve’s...

Singapore Exchange Ltd (SGX)

REIT Watch - Mapletree S-Reits see strong performance amid active acquisitions

Among the constituents of the Straits Times Index, three S-Reits are members of the Mapletree family – Mapletree Pan Asia Commercial Trust,...

Singapore Exchange Ltd (SGX)

REIT Watch - S-Reit acquisitions continue with Clar’s S$218 million buy

S-Reit acquisitions continue with Clar’s S$218 million buy Earlier last week, CapitaLand Ascendas Reit (Clar) announced the proposed acquisition...

Singapore Exchange Ltd (SGX)

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