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>Sanli Environmental and mDR saw significant increases in average daily trading turnover, with returns of 98.9% and 137.5% respectively.</li><li>Q&M Dental led net institutional inflows with S$7.68 million, alongside increased CEO ownership and active share buybacks.</li><li>OKP Holdings secured a S$258 million contract, boosting its order book to S$736 million, with visibility to 2031.</li></ul>

Sanli Environmental and mDR saw significant increases in average daily trading turnover, with returns of 98.9% and 137.5% respectively.Q&M Dental led net institutional inflows with S$7.68 million, alongside increased CEO ownership and active share buybacks.OKP Holdings secured a S$258 million contract, boosting its order book to S$736 million, with visibility to 2031.

Markets in Motion: Turnover Gains Spark Sharper Spreads

<ul><li>Oxley Holdings' ADT surged to S$0.583 million since May, a 10.6× increase, with S$5.3 million profit before tax in 1HFY25.</li><li>UOB-Kay Hian Holdings recorded S$23.09 million net institutional inflow, with P/E ratio rising from 7x to 10x.</li><li>Non-index mid and small cap stocks attracted over S$100 million net institutional inflows since May, led by UOBKH and CSE Global.</li></ul>

Oxley Holdings' ADT surged to S$0.583 million since May, a 10.6× increase, with S$5.3 million profit before tax in 1HFY25.UOB-Kay Hian Holdings recorded S$23.09 million net institutional inflow, with P/E ratio rising from 7x to 10x.Non-index mid and small cap stocks attracted over S$100 million net institutional inflows since May, led by UOBKH and CSE Global.

Mid & Small Cap Surge: Liquidity, Inflows and Big Movers Since May

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

<ul><li>ADIA and Hines sell Shanghai Tower for $1.5B to insurer-backed fund, showcasing large-scale real estate transactions.</li><li>Keppel DC REIT sells German data centre at 39% loss from 2019 purchase price, indicating potential challenges in the real estate market.</li><li>TPG offers $65M for Econ Healthcare, Singapore nursing home operator, amidst growing interest in healthcare industry investments.</li></ul>

ADIA and Hines sell Shanghai Tower for $1.5B to insurer-backed fund, showcasing large-scale real estate transactions.Keppel DC REIT sells German data centre at 39% loss from 2019 purchase price, indicating potential challenges in the real estate market.TPG offers $65M for Econ Healthcare, Singapore nursing home operator, amidst growing interest in healthcare industry investments.

Asia Real Estate Tracker (18-Feb-2025): ADIA, Hines sell Shanghai Trophy Tower for $1.5B

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>
<a href="https://www.smartkarma.com/entities/slb-development-ltd" target="_blank" data-smartkarma-citation="entities:26989:1" rel="noopener">SLB Development (SLB SP)</a> disclosed a scheme privatisation from <a href="https://www.smartkarma.com/entities/lian-beng-group-ltd" target="_blank" data-smartkarma-citation="entities:17636:1" rel="noopener">Lian Beng (LBG SP)</a> at S$0.23 per share, a 36.1% premium to the undisturbed price of S$0.169 (22 January).</li>
<li>The Ong family previously privatised Lian Beng, the parent company. The offer price, which is equal to the IPO price, is attractive compared to peer multiples and historical trading ranges.</li>
<li>The scheme vote is low-risk, as no disinterested shareholder holds a blocking stake, and the offer is attractive. Expect a scheme meeting in April.  </li>
</ul>



SLB Development (SLB SP) disclosed a scheme privatisation from Lian Beng (LBG SP) at S$0.23 per share, a 36.1% premium to the undisturbed price of S$0.169 (22 January).
The Ong family previously privatised Lian Beng, the parent company. The offer price, which is equal to the IPO price, is attractive compared to peer multiples and historical trading ranges.
The scheme vote is low-risk, as no disinterested shareholder holds a blocking stake, and the offer is attractive. Expect a scheme meeting in April.  


SLB Development (SLB SP): Ong Family’s S$0.23 Scheme Offer

<ul><li>Share buybacks by primary listed companies 5 May - 11 May 2023 Institutions were net sellers of Singapore stocks over the five sessions with S$155 million of net outflow.</li><li>There were 15 companies conducting share buybacks over the five trading sessions through to May 11, with a total consideration of S$22.2 million.</li></ul>

Share buybacks by primary listed companies 5 May - 11 May 2023 Institutions were net sellers of Singapore stocks over the five sessions with S$155 million of net outflow.There were 15 companies conducting share buybacks over the five trading sessions through to May 11, with a total consideration of S$22.2 million.

iFast chairman Lim Chung Chun increases stake

Singapore

Oxley Holdings Ltd. develops real estate. The Company develops residential and commercial projects in accessible locations. Oxley also develops light industrial buildings that include swimming pools and other recreational amenities.

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Oxley Holdings (OHL SP)

Markets in Motion: Turnover Gains Spark Sharper Spreads

Sanli Environmental and mDR saw significant increases in average daily trading turnover, with returns of 98.9% and 137.5% respectively. Q&M...

Singapore Exchange Ltd (SGX)

Mid & Small Cap Surge: Liquidity, Inflows and Big Movers Since May

Oxley Holdings' ADT surged to S$0.583 million since May, a 10.6× increase, with S$5.3 million profit before tax in 1HFY25. UOB-Kay Hian Holdings...

Singapore Exchange Ltd (SGX)

Asia Real Estate Tracker (18-Feb-2025): ADIA, Hines sell Shanghai Trophy Tower for $1.5B

ADIA and Hines sell Shanghai Tower for $1.5B, Keppel DC REIT sells German data centre, TPG offers $65M for Econ Healthcare, while Singapore home...

Asia Real Estate Tracker

SLB Development (SLB SP): Ong Family’s S$0.23 Scheme Offer

The offer price, which is equal to the IPO price, is attractive compared to peer multiples and historical trading ranges. This is a done deal.

Arun George

iFast chairman Lim Chung Chun increases stake

Share buybacks by primary listed companies 5 May - 11 May 2023 Institutions were net sellers of Singapore stocks over the five sessions with S$155...

Singapore Exchange Ltd (SGX)

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