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.

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SGX China Environmental Plays in Spotlight as China Goes Green

20 Largest China Plays Returned 27% in the YTD

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Equity Capital Markets

China Everbright Greentech / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/24085" target="_blank" data-smartkarma-citation="entities:24085:1">China Everbright Greentech (1412177D HK)</a>, a subsidiary of <a href="https://www.smartkarma.com/entities/15946" target="_blank" data-smartkarma-citation="entities:15946:1">China Everbright Intl Ltd (257 HK)</a>, plans to list in Hong Kong in an US$425m IPO. In this insight, we will discuss the fundamentals of the company, its growth drivers, key risks and our thoughts on valuation. The conclusion can be found at the end of my insight.</p><h2>Company background</h2><ul><li>The company (CEG) is a China-based specialty environmental protection service provider with a focus on biomass and hazardous waste treatment projects. The company…</li></ul>

China Everbright Greentech (1412177D HK), a subsidiary of China Everbright Intl Ltd (257 HK), plans to list in Hong Kong in an US$425m IPO. In this insight, we will discuss the fundamentals of the company, its growth drivers, key risks and our thoughts on valuation. The conclusion can be found at the end of my insight.Company backgroundThe company (CEG) is a China-based specialty environmental protection service provider with a focus on biomass and hazardous waste treatment projects. The company…

China Everbright Greentech IPO: Discounting for Biomass Energy Risks

The accounting research firm, GMT Research

Lisa Mangkornkarn

The accounting research firm

GMT Research

GMT Research provides independent insight into markets, sectors and companies throughout Asia. Our unique method of mining a comprehensive collection of corporate financial statements for key data allows us to evaluate the financial health of a company, sectors and the market at large. We also investigate the application of accounting standards by companies and sectors, shedding light on the quality of reported profits. Armed with this information, we help investment professionals navigate the financial landscape.

Equity Bottom-Up

Beijing Enterprises Water Group / Equity Bottom-Up

<p>Strip away questionable concession accounting and <a href="https://www.smartkarma.com/entities/1660" target="_blank" data-smartkarma-citation="entities:1660">Beijing Enterprises Water Group</a> (BEW) is barely able to generate a profit. Growth has been driven by accounting changes, the treatment of acquisitions, one-off gains and a host of other doubtful items. An inability to generate operating cash inflows would seem to confirm our concerns and suggests the company will have difficulty in servicing HK$28bn (US$3.6bn) of debt,<strong> around half of which is unhedged foreign debt.</strong></p><blockquote><p>BEW is only able to survive…</p></blockquote>

Strip away questionable concession accounting and Beijing Enterprises Water Group (BEW) is barely able to generate a profit. Growth has been driven by accounting changes, the treatment of acquisitions, one-off gains and a host of other doubtful items. An inability to generate operating cash inflows would seem to confirm our concerns and suggests the company will have difficulty in servicing HK$28bn (US$3.6bn) of debt, around half of which is unhedged foreign debt.BEW is only able to survive…

Singapore

SIIC Environment Holdings Ltd. is a leading integrated operator and investor in China's environmental protection industry. The company specializes in wastewater treatment, water supply, sludge treatment, and waste-to-energy incineration. It was founded in Singapore in 2002.

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SIIC Environment (807 HK)

SGX China Environmental Plays in Spotlight as China Goes Green

Singapore Exchange Ltd (SGX)

20 Largest China Plays Returned 27% in the YTD

Singapore Exchange Ltd (SGX)

FTSE ST China Index up 18% in 2017 YTD

Singapore Exchange Ltd (SGX)

China Everbright Greentech IPO: Discounting for Biomass Energy Risks

China Everbright Greentech (1412177D HK), a subsidiary of China Everbright Intl Ltd (257 HK), plans to list in Hong Kong in an US$425m IPO. In this...

Ke Yan, CFA, FRM

BJ ENT WATER: Hiding Behind the Numbers

Strip away questionable concession accounting and Beijing Enterprises Water Group (BEW) is barely able to generate a profit. Growth has been driven...

GMT Research

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