Director and Founding Member, Corporate Monitor Limited

Tan Yee Peng

Director and Founding Member

Strengthening Corporate Performance

Corporate Monitor Limited

Corporate Monitor was established to encourage better performance of companies, particularly companies listed on the SGX, and hold their management and boards to account, for the benefit of their shareholders and stakeholders.

<ul>
<li>Since the acquisition of WFS 3 years ago, SATS has delivered consecutive years of growth in revenue and earnings.</li>
<li>In addition, margins, return on equity (ROE) and leverage have also improved.</li>
<li>The company is making real progress in meeting or exceeding the very comprehensive set of targets it set for FY2029. </li>
</ul>


Since the acquisition of WFS 3 years ago, SATS has delivered consecutive years of growth in revenue and earnings.
In addition, margins, return on equity (ROE) and leverage have also improved.
The company is making real progress in meeting or exceeding the very comprehensive set of targets it set for FY2029. 


Index Rebalance and Special Situations Coverage, Quiddity Advisors

Anjana Amarasuriya

Index Rebalance and Special Situations Coverage

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The SP 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.</li>
<li>In this insight, we have presented our expectations for ADDs and DELs for the upcoming quarterly review in March 2026.</li>
<li>We expect one intra-review index change <em>before</em> the regular rebalance and two changes during the March 2026 regular rebalance. There is an SP 400 intra-review change this week.</li>
</ul>


The SP 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.
In this insight, we have presented our expectations for ADDs and DELs for the upcoming quarterly review in March 2026.
We expect one intra-review index change before the regular rebalance and two changes during the March 2026 regular rebalance. There is an SP 400 intra-review change this week.


Quiddity Leaderboard SP500/600 Mar26 Rebal: TWO Regular ADDs/DELs + ONE Intra-Review Change Coming

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ntt-dc-reit" target="_blank" data-smartkarma-citation="entities:45414:1" rel="noopener">Ntt Dc Reit (NTTDCR SP)</a> (NDC), a data center REIT, aims to raise up to US$810m in its Singapore IPO.</li>
<li>The IPO portfolio comprises six mainly freehold data centres in the U.S., Austria and Singapore with an aggregate appraised valuation of US$1.6bn.</li>
<li>In this note, we look at the company's portfolio and its performance.</li>
</ul>



Ntt Dc Reit (NTTDCR SP) (NDC), a data center REIT, aims to raise up to US$810m in its Singapore IPO.
The IPO portfolio comprises six mainly freehold data centres in the U.S., Austria and Singapore with an aggregate appraised valuation of US$1.6bn.
In this note, we look at the company's portfolio and its performance.


NTT DC REIT IPO - Decent Yield, Strong Local Backing, a Few Issues

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Technical Analysis

<ul><li>The SET could extend its gains after Fitch Ratings upgraded the outlooks of five banks to "Stable."</li><li>The SET's rebound to above 1,600 points after a pullback signals buying interest at this level.</li><li>We recommend buying near support.</li></ul>

The SET could extend its gains after Fitch Ratings upgraded the outlooks of five banks to "Stable."The SET's rebound to above 1,600 points after a pullback signals buying interest at this level.We recommend buying near support.

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>Singapore stocks saw S$611 million net institutional inflow in June, reversing over 40% of prior five-month outflows.</li><li>Financial Services led June inflow with S$683 million net buying, despite a 1H26 net outflow of S$626 million.</li><li>Technology and Industrials attracted strong 1H26 net institutional inflow, driven by interest in AI, semiconductors, and infrastructure themes.</li></ul>

Singapore stocks saw S$611 million net institutional inflow in June, reversing over 40% of prior five-month outflows.Financial Services led June inflow with S$683 million net buying, despite a 1H26 net outflow of S$626 million.Technology and Industrials attracted strong 1H26 net institutional inflow, driven by interest in AI, semiconductors, and infrastructure themes.

Singapore Stocks Attract S$600M+ in Net Institutional Inflow in June

Singapore

SATS is a leading provider of gateway services and food solutions for the aviation industry and beyond. It offers air cargo handling, baggage and ramp handling, passenger services, aviation security, and in-flight catering, as well as food distribution and logistics. Headquartered in Singapore, the company was founded in 1972.

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SATS (SATS SP)

SATS Ltd Kudos for Flying High

Since the acquisition of WFS 3 years ago, SATS has delivered consecutive years of growth in revenue and earnings. In addition, margins, return on...

Corporate Monitor Limited

Quiddity Leaderboard SP500/600 Mar26 Rebal: TWO Regular ADDs/DELs + ONE Intra-Review Change Coming

There are now 19 Intra-review changes (25 flow lines) for SP 400, SP 600, and SP Completion and a couple of index upweights for SP 500. Over US$4...

Anjana Amarasuriya

NTT DC REIT IPO - Decent Yield, Strong Local Backing, a Few Issues

Ntt Dc Reit (NTTDCR SP) (NDC), a data center REIT, aims to raise up to US$810m in its Singapore IPO. In this note, we look at its portfolio and...

Sumeet Singh

Recommendation: Buying near Support

The SET could extend its gains after Fitch Ratings upgraded the outlooks of five banks to "Stable." The SET's rebound to above 1,600 points after...

Krungthai XSpring

Singapore Stocks Attract S$600M+ in Net Institutional Inflow in June

Singapore stocks saw S$611 million net institutional inflow in June, reversing over 40% of prior five-month outflows. Financial Services led June...

Singapore Exchange Ltd (SGX)

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