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>REIT Watch – Retail S-REITs’ metrics surpass pre-Covid; poised to benefit from tourism boost The Singapore Tourism Board expects the nation to receive up to 14 million international visitors this year, more than double the 6.3 million recorded in 2022.</li><li>Frasers Centrepoint Trust reported that shopper traffic and tenant sales in Q1 FY23 remained robust and grew 38.3 per cent and 13.4 per cent yoy, respectively.</li></ul>

REIT Watch – Retail S-REITs’ metrics surpass pre-Covid; poised to benefit from tourism boost The Singapore Tourism Board expects the nation to receive up to 14 million international visitors this year, more than double the 6.3 million recorded in 2022.Frasers Centrepoint Trust reported that shopper traffic and tenant sales in Q1 FY23 remained robust and grew 38.3 per cent and 13.4 per cent yoy, respectively.

REIT Watch – Retail S-REITs’ metrics surpass pre-Covid; poised to benefit from tourism boost

<ul><li>Source: Company announcements extracted as of 27 Jan 2023 before market opens.</li><li>Five S-Reits have released their financial results or business updates for the latest reporting period, of which Suntec Reit announced its full year results.</li><li>However, full year DPU grew 2.5 per cent to 8.884 cents due to higher NPI contribution and a capital distribution of S$23.0 million.</li></ul>

Source: Company announcements extracted as of 27 Jan 2023 before market opens.Five S-Reits have released their financial results or business updates for the latest reporting period, of which Suntec Reit announced its full year results.However, full year DPU grew 2.5 per cent to 8.884 cents due to higher NPI contribution and a capital distribution of S$23.0 million.

REIT Watch - S-Reits’ upcoming 2022 report cards

Lendlease Global Commercial REIT / Equity Bottom-Up

Lendlease Global Commercial REIT (LREIT SP)

<ul><li>October’s retail sales increased 10.4 per cent year on year (yoy), extending September’s 11.3 per cent growth and marking its seventh consecutive month of double-digit yoy growth.</li><li>The estimated total retail sales value in October was S$4.0 billion, of which online retail sales made up an estimated 13.0 per cent, compared to the 13.9 per cent recorded in September.</li><li>CapitaLand Integrated Commercial Trust reported 21.3 per cent y-o-y growth in tenant sales and 21.9 per cent y-o-y growth in shopper traffic for 9M 2022.</li></ul>

October’s retail sales increased 10.4 per cent year on year (yoy), extending September’s 11.3 per cent growth and marking its seventh consecutive month of double-digit yoy growth.The estimated total retail sales value in October was S$4.0 billion, of which online retail sales made up an estimated 13.0 per cent, compared to the 13.9 per cent recorded in September.CapitaLand Integrated Commercial Trust reported 21.3 per cent y-o-y growth in tenant sales and 21.9 per cent y-o-y growth in shopper traffic for 9M 2022.

REIT Watch - Recovery continues for S-Reits with Singapore retail assets

<ul><li>REIT Watch - S-REIT earnings and updates schedule for this reporting season Some 33 S-Reits and property trusts have confirmed dates of their upcoming financial results or business updates for this reporting season, with SPH Reit 0% kicking off the release of its full year FY22 financial results, along with Sabana Industrial Reit’s +1.28% Q3 FY22 business update.</li><li>Sabana Industrial Reit updated that it reached portfolio occupancy levels of 89.1 per cent, a new high since Q3FY17.</li></ul>

REIT Watch - S-REIT earnings and updates schedule for this reporting season Some 33 S-Reits and property trusts have confirmed dates of their upcoming financial results or business updates for this reporting season, with SPH Reit 0% kicking off the release of its full year FY22 financial results, along with Sabana Industrial Reit’s +1.28% Q3 FY22 business update.Sabana Industrial Reit updated that it reached portfolio occupancy levels of 89.1 per cent, a new high since Q3FY17.

REIT Watch - S-Reits confirm schedule for latest results and updates

Singapore

Paragon REIT is a real estate investment trust that primarily invests in income-producing retail properties across Singapore and the Asia-Pacific region. Its portfolio includes upscale retail malls, medical suites, and shopping centers such as Paragon, The Clementi Mall, and Westfield Marion Shopping Centre. The company is headquartered in Singapore and was founded in 2013.

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Paragon REIT (PGNREIT SP)

REIT Watch – Retail S-REITs’ metrics surpass pre-Covid; poised to benefit from tourism boost

REIT Watch – Retail S-REITs’ metrics surpass pre-Covid; poised to benefit from tourism boost The Singapore Tourism Board expects the nation to...

Singapore Exchange Ltd (SGX)

S-Reits’ upcoming 2022 report cards

Source: Company announcements extracted as of 27 Jan 2023 before market opens. Five S-Reits have released their financial results or business...

Singapore Exchange Ltd (SGX)

REIT Watch - S-Reits’ upcoming 2022 report cards

Source: Company announcements extracted as of 27 Jan 2023 before market opens. Five S-Reits have released their financial results or business...

Singapore Exchange Ltd (SGX)

REIT Watch - Recovery continues for S-Reits with Singapore retail assets

October’s retail sales increased 10.4 per cent year on year (yoy), extending September’s 11.3 per cent growth and marking its seventh consecutive...

Singapore Exchange Ltd (SGX)

REIT Watch - S-Reits confirm schedule for latest results and updates

REIT Watch - S-REIT earnings and updates schedule for this reporting season Some 33 S-Reits and property trusts have confirmed dates of their...

Singapore Exchange Ltd (SGX)

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