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>Institutions were net buyers of Singapore stocks from May 2 to May 8, with S$123 million inflow, reducing 2025's net outflow to S$1.61 billion.</li><li>United Overseas Bank's CEO acquired 100,000 shares, increasing total interest to 10.76%, following a S$1.49 billion 1QFY25 net profit.</li><li>Q & M Dental increased interest in Aoxin to 50.53% and proposed a secondary listing on Bursa Malaysia.</li></ul>

Institutions were net buyers of Singapore stocks from May 2 to May 8, with S$123 million inflow, reducing 2025's net outflow to S$1.61 billion.United Overseas Bank's CEO acquired 100,000 shares, increasing total interest to 10.76%, following a S$1.49 billion 1QFY25 net profit.Q & M Dental increased interest in Aoxin to 50.53% and proposed a secondary listing on Bursa Malaysia.

Director Filings Across Financials, Real Estate & Singapore’s Largest Private Dental Group

External broker reports(aggregated public sources), KGI Securities Singapore

KGI Securities

External broker reports(aggregated public sources)

KGI Securities Singapore

We are a pioneer Securities & Derivatives, Trading and Clearing Member of Singapore Exchange as well as a pioneer member of ICE Futures Singapore & ICE Clear Singapore. We offer our valued clients round the clock (24 hour) single-touch point for multi-asset clients and 24 hour high-touch desk for global products. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Expansion of AI Solutions Business. EM2AI, a 49%-owned associate of Q &amp; M Dental, has secured regulatory licenses across multiple jurisdictions for its dental AI solutions.</li><li>The company also signed a Memorandum of Understanding (MoU) with a regional dental solutions provider, enabling it to expand its footprint.</li><li>With this collaboration, EM2AI is now set to provide its AI-powered dental solutions to over 1,100 clinics across the region, positioning the company for further growth.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Expansion of AI Solutions Business. EM2AI, a 49%-owned associate of Q &amp; M Dental, has secured regulatory licenses across multiple jurisdictions for its dental AI solutions.The company also signed a Memorandum of Understanding (MoU) with a regional dental solutions provider, enabling it to expand its footprint.With this collaboration, EM2AI is now set to provide its AI-powered dental solutions to over 1,100 clinics across the region, positioning the company for further growth.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Q&M Dental Group Ltd. (QNM SP/ QC7.SI): More AI Business Opportunities.

<ul><li>Focusing on organic growth. Amidst a saturated dental market in Singapore, Q &amp; M Dental Group is shifting its stance to focusing on organic growth to increas e the efficiency and effectiveness of its business process in each clinic.</li><li>The company has rolled out several new technological initiatives, such as a new dental mobile application and the integration of new dental technologies.</li><li>Integration of new technology. Q &amp; M Dental Group recently announced the integration of Align Technology’s latest iTero Lumina Intraoral Scanner across its dental clinics in Singapore .</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Focusing on organic growth. Amidst a saturated dental market in Singapore, Q &amp; M Dental Group is shifting its stance to focusing on organic growth to increas e the efficiency and effectiveness of its business process in each clinic.The company has rolled out several new technological initiatives, such as a new dental mobile application and the integration of new dental technologies.Integration of new technology. Q &amp; M Dental Group recently announced the integration of Align Technology’s latest iTero Lumina Intraoral Scanner across its dental clinics in Singapore .Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Q & M Dental Group (QNM SP) - Focusing on Organic Growth

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Malo Medical Management / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/malo-medical-management" target="_blank" data-smartkarma-citation="entities:40035:1" rel="noopener">Malo Medical Management (MMM HK)</a> (MMM) is looking to raise around US$100m (estimated) in its upcoming Hong Kong IPO. The deal will be run by Haitong.</li>
<li>MMM is a dental service provider in China. It ranked ninth among all private dental service providers and second among all premium dental service providers, as per F&amp;S.</li>
<li>MMM provides dental services to patients through a widespread network of Malo Clinic-branded specialty dental clinics. As of Apr 2023, it owned 29 dental clinics in 13 cities in China.</li>
</ul>



Malo Medical Management (MMM HK) (MMM) is looking to raise around US$100m (estimated) in its upcoming Hong Kong IPO. The deal will be run by Haitong.
MMM is a dental service provider in China. It ranked ninth among all private dental service providers and second among all premium dental service providers, as per F&amp;S.
MMM provides dental services to patients through a widespread network of Malo Clinic-branded specialty dental clinics. As of Apr 2023, it owned 29 dental clinics in 13 cities in China.


Malo Medical Management Pre-IPO Tearsheet

First Real Estate Investment Trust / Equity Bottom-Up

First Real Estate Investment Trust (FIRT SP)

<ul><li>The global Healthcare sector has expanded at a rapid pace over the recent years, driven by significant medical advances, accelerated drug approval processes for high unmet needs and overall increased access to healthcare.</li><li>The iEdge SG All Healthcare Index, which tracks the performance of the listed healthcare segment in Singapore, generated a 5% decline (in total return terms) in the first 2 months of 2023, with the top 10 constituents by weightage, averaging 0.8% gain in total returns.</li><li>Q & M Dental Group, reported a 12% decline in full year total FY22 revenue as Covid-19 testing revenue significantly decreased.</li></ul>

The global Healthcare sector has expanded at a rapid pace over the recent years, driven by significant medical advances, accelerated drug approval processes for high unmet needs and overall increased access to healthcare.The iEdge SG All Healthcare Index, which tracks the performance of the listed healthcare segment in Singapore, generated a 5% decline (in total return terms) in the first 2 months of 2023, with the top 10 constituents by weightage, averaging 0.8% gain in total returns.Q & M Dental Group, reported a 12% decline in full year total FY22 revenue as Covid-19 testing revenue significantly decreased.

Bright Spots in Singapore's Healthcare sector

Singapore

Q & M Dental Group is the largest private dental healthcare group in Singapore, providing a comprehensive range of primary and specialist dental services. The company also distributes dental equipment and supplies, operates medical clinics, and offers higher education programs for dentists. Headquartered in Singapore, the group was established in November 1996.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Q & M Dental Group (QNM SP)

Director Filings Across Financials, Real Estate & Singapore’s Largest Private Dental Group

Institutions were net buyers of Singapore stocks from May 2 to May 8, with S$123 million inflow, reducing 2025's net outflow to S$1.61...

Singapore Exchange Ltd (SGX)

Q&M Dental Group Ltd. (QNM SP/ QC7.SI): More AI Business Opportunities.

xpansion of AI Solutions Business. EM2AI, a 49%-owned associate of Q & M Dental, has secured regulatory licenses across multiple jurisdictions for...

KGI Securities