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>Of the actively traded stocks listed on SGX, Singapore Medical Group saw the biggest jump in volume in August compared to its three-month average volume. The stock also gained 91.4% in August and earlier in the month reported a turnaround net profit of S$0.8 million for 1H2016 compared to a net loss of S$0.1 million in 1H2015.</li></ul><ul><li>
Consumer Staples plays, Sheng Siong Group and Dairy Farm International Holdings were also amongst the 10 actively traded stocks that saw the biggest jump in August volume.…</li></ul>

Of the actively traded stocks listed on SGX, Singapore Medical Group saw the biggest jump in volume in August compared to its three-month average volume. The stock also gained 91.4% in August and earlier in the month reported a turnaround net profit of S$0.8 million for 1H2016 compared to a net loss of S$0.1 million in 1H2015.
Consumer Staples plays, Sheng Siong Group and Dairy Farm International Holdings were also amongst the 10 actively traded stocks that saw the biggest jump in August volume.…

10 Biggest Volume Jumpers in August Spanned Seven Sectors

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/1087" target="_blank" data-smartkarma-citation="entities:1087:1">Sembcorp Industries Ltd (SCI SP)</a> reported its 2Q16 results this evening (link to <a href="http://www.sembcorp.com/en/src/downloads/SCI_1H2016_Results%20Slides.pdf" target="_blank">presentation</a>, <a href="http://www.sembcorp.com/en/src/downloads/SCI_1H2016_Financial%20Statements.pdf" target="_blank">financial statement</a>) following <a href="https://www.smartkarma.com/entities/11" target="_blank" data-smartkarma-citation="entities:11:1">Sembcorp Marine Ltd (SMM SP)</a>'s 2Q results announced last Thursday (see my earlier insight: <a href="https://www.smartkarma.com/insights/sembcorp-marine-2q16-floater-and-platform-shined-but-what-s-next" target="_blank" data-smartkarma-citation="insights:4956">Sembcorp Marine 2Q16: Floater and Platform Shined, but What’s Next?</a> ). I have discussed in details how SCI's India mega plant, namely TPCIL and SGPL will provide valuation lift in the long term and their future IPO could be an opportunity for the company to realise the value from…

Sembcorp Industries Ltd (SCI SP) reported its 2Q16 results this evening (link to presentation, financial statement) following Sembcorp Marine Ltd (SMM SP)'s 2Q results announced last Thursday (see my earlier insight: Sembcorp Marine 2Q16: Floater and Platform Shined, but What’s Next? ). I have discussed in details how SCI's India mega plant, namely TPCIL and SGPL will provide valuation lift in the long term and their future IPO could be an opportunity for the company to realise the value from…

Sembcorp Industries 2Q16: Long Term Prospects Come with Short Term Challenges

<a href="https://www.smartkarma.com/entities/11" target="_blank" data-smartkarma-citation="entities:11:1">Sembcorp Marine Ltd (SMM SP)</a> reported its 2Q16 results hours ago (link to its <a href="http://infopub.sgx.com/FileOpen/SCM2Q2016%20Results%20Briefing.ashx?App=Announcement&amp;FileID=414471" target="_blank">presentation</a>, <a href="http://infopub.sgx.com/FileOpen/SCM2Q2016%20FinancialStatements%2028July2016.ashx?App=Announcement&amp;FileID=414469" target="_blank">financial statement</a>, <a href="http://infopub.sgx.com/FileOpen/SCM2Q2016%20CEO%20Address.ashx?App=Announcement&amp;FileID=414472" target="_blank">CEO's speech</a>). First Revenue was 27% lower compared to a year ago. First half EBITDA was 44% lower YoY. I have been warning the risk of the street under-estimating deceleration of rig builders' revenue (because of failure to replenish their order book and order delays) and profit (because of negative operating leveraging and order cancellation). Subscribers can read my previous…

Sembcorp Marine Ltd (SMM SP) reported its 2Q16 results hours ago (link to its presentation, financial statement, CEO's speech). First Revenue was 27% lower compared to a year ago. First half EBITDA was 44% lower YoY. I have been warning the risk of the street under-estimating deceleration of rig builders' revenue (because of failure to replenish their order book and order delays) and profit (because of negative operating leveraging and order cancellation). Subscribers can read my previous…

Sembcorp Marine 2Q16: Floater and Platform Shined, but What's Next?

Co-founder & Managing Director, Marketnomix 

Rajan Govil

Co-founder & Managing Director

Marketnomix 

Macroeconomics

Singapore’s GDP grew by 1.8% y-o-y in 1Q2016 similar to the growth experienced in the previous two quarters. Private consumption expenditure contributed about one-percentage points while government expenditure contributed 0.7 percentage points to the growth. Net exports detracted 3.8% from GDP growth the in quarter ended March 2016.While services sector remains a major contributor to overall GDP, 1Q2016 saw its contribution decelerate from 2.8% in 1Q2015 to 0.9% in 1Q2016 while that of goods…

Singapore’s GDP grew by 1.8% y-o-y in 1Q2016 similar to the growth experienced in the previous two quarters. Private consumption expenditure contributed about one-percentage points while government expenditure contributed 0.7 percentage points to the growth. Net exports detracted 3.8% from GDP growth the in quarter ended March 2016.While services sector remains a major contributor to overall GDP, 1Q2016 saw its contribution decelerate from 2.8% in 1Q2015 to 0.9% in 1Q2016 while that of goods…

Singapore: GDP Grows by 1.8% in 1Q2016 Driven by Consumption Expenditure

Equity Capital Markets

Pt Cikarang Listrindo Tbk / Equity Capital Markets

PT Cikarang Listrindo, the first IPP in Indonesia, is selling up to US$357m worth of shares. <ul><li>In this insight, I examine its fundamentals, growth drivers, risks and shareholders. </li><li>Investors should know what are the assumptions for moving parts when comparing valuation to peers.</li><li>Last but not the least, our Smartkarma IPO framework rates the deal at the borderline for participation. </li></ul>

PT Cikarang Listrindo, the first IPP in Indonesia, is selling up to US$357m worth of shares. In this insight, I examine its fundamentals, growth drivers, risks and shareholders. Investors should know what are the assumptions for moving parts when comparing valuation to peers.Last but not the least, our Smartkarma IPO framework rates the deal at the borderline for participation. 

PT Cikarang Listrindo IPO: Patience Needed for Moving Parts To Settle

Singapore

Sembcorp Industries Ltd provides utilities and integrated services for industrial sites such as power, gas, steam, water, wastewater treatment and other on-site services. The Company's businesses also include marine & offshore engineering and urban development comprising industrial parks and business, commercial and residential spaces.

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Sembcorp Industries (SCI SP)

10 Biggest Volume Jumpers in August Spanned Seven Sectors

Of the actively traded stocks listed on SGX, Singapore Medical Group saw the biggest jump in volume in August compared to its three-month average...

Singapore Exchange Ltd (SGX)

Sembcorp Industries 2Q16: Long Term Prospects Come with Short Term Challenges

Sembcorp Industries Ltd (SCI SP) reported its 2Q16 results this evening (link to presentation, financial statement) following Sembcorp Marine Ltd...

Ke Yan, CFA, FRM

Sembcorp Marine 2Q16: Floater and Platform Shined, but What's Next?

Sembcorp Marine Ltd (SMM SP) reported its 2Q16 results hours ago (link to its presentation, financial statement, CEO's speech). First Revenue was...

Ke Yan, CFA, FRM

Singapore: GDP Grows by 1.8% in 1Q2016 Driven by Consumption Expenditure

Singapore’s GDP grew by 1.8% y-o-y in 1Q2016 similar to the growth experienced in the previous two quarters. Private consumption expenditure...

Rajan Govil

PT Cikarang Listrindo IPO: Patience Needed for Moving Parts To Settle

PT Cikarang Listrindo, the first IPP in Indonesia, is selling up to US$357m worth of shares. In this insight, I examine its fundamentals, growth...

Ke Yan, CFA, FRM

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