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.

Thematic (Sector/Industry)

<ul>
<li><strong>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.</strong></li>
<li>
<strong>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</strong>…</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><strong>Rental continues on its moderate recovery path</strong></h2><p>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…</p>

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

<div><h2>Private Residential Primary Sales Status (Excluding Executive Condominiums)</h2></div><p>The month of October saw the second consecutive month of improvement in Singapore primary home sales. We saw developers sold 1,252 units of new homes (ex-ECs), 148% increase month-on-month and 128% increase year-on-year. This makes October sales the highest volume sold in the past 15 months (see Figure 1). </p><p>Figure 1: October 2016 Primary Sales (Excluding Executive Condominium)</p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/016/390/original/Units%20launched%20and%20sold%20in%20the%20month.png?1479195867" class="editor-image img-responsive" data-smartkarma-image-id="16390"></figure><p>Source: URA, REMS Advisors</p><p>The strong sale in…</p>

Private Residential Primary Sales Status (Excluding Executive Condominiums)The month of October saw the second consecutive month of improvement in Singapore primary home sales. We saw developers sold 1,252 units of new homes (ex-ECs), 148% increase month-on-month and 128% increase year-on-year. This makes October sales the highest volume sold in the past 15 months (see Figure 1). Figure 1: October 2016 Primary Sales (Excluding Executive Condominium)Source: URA, REMS AdvisorsThe strong sale in…

Singapore's Primary Home Sales Surged in October

<div><h2>Private Residential Primary Sales Status (Excluding Executive Condominiums)</h2></div><p>For the month of September, primary home sales in Singapore increased by 8% increase month-on-month, continuing the build up of postive momentum in the market (see Figure 1). Developers sold a total of 509 units of new homes (ex-ECs). The improving sentiment is visible as this is a 49% increase over the sales figure last year. </p><p>Figure 1: September 2016 Primary Sales (Excluding Executive Condominium)</p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/014/886/original/Sept%202016%20Primary%20sale%20%28ex%20Ec%29.png?1476758876" class="editor-image img-responsive" data-smartkarma-image-id="14886"></figure><p>Source: URA, REMS…</p>

Private Residential Primary Sales Status (Excluding Executive Condominiums)For the month of September, primary home sales in Singapore increased by 8% increase month-on-month, continuing the build up of postive momentum in the market (see Figure 1). Developers sold a total of 509 units of new homes (ex-ECs). The improving sentiment is visible as this is a 49% increase over the sales figure last year. Figure 1: September 2016 Primary Sales (Excluding Executive Condominium)Source: URA, REMS…

Singapore's Primary Home Sales Pick Up in September

<p>A key issue facing many Government across the globe is how to keep home affordable while maintaining an environment attractive for foreign investments.  This issue runs deep whether you are in developed countries like United Kingdom, Australia, Singapore or emerging markets like Myanmar, Cambodia, Vietnam, etc.</p><p>The huge disparity in prices of luxury homes vs what middle to lower income groups can afford has been largely caused by the relative strong purchasing powers of foreign participants in…</p>

A key issue facing many Government across the globe is how to keep home affordable while maintaining an environment attractive for foreign investments.  This issue runs deep whether you are in developed countries like United Kingdom, Australia, Singapore or emerging markets like Myanmar, Cambodia, Vietnam, etc.The huge disparity in prices of luxury homes vs what middle to lower income groups can afford has been largely caused by the relative strong purchasing powers of foreign participants in…

Indonesia

Lippo Karawaci is Indonesia's leading integrated real estate and healthcare platform, engaged in the development and management of townships, residential homes, retail malls, hospitals, and hotels. The company's diverse portfolio also includes asset management and lifestyle offerings. It was founded in 1990 and is headquartered in Tangerang, Indonesia.

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Lippo Karawaci (LPKR IJ)

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

Singapore's Primary Home Sales Surged in October

Private Residential Primary Sales Status (Excluding Executive Condominiums)The month of October saw the second consecutive month of improvement in...

TAN Kok Keong

Singapore's Primary Home Sales Pick Up in September

Private Residential Primary Sales Status (Excluding Executive Condominiums)For the month of September, primary home sales in Singapore increased by...

TAN Kok Keong

Helping People Own a Home

A key issue facing many Government across the globe is how to keep home affordable while maintaining an environment attractive for foreign...

TAN Kok Keong

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