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>We commend StarHub for putting shareholder returns as a key priority; it is front and centre in its annual reports, and a significant portion of the CEO’s compensation is tied to returns targets.</li><li>This is certainly not common among SGX listed companies, many of which do not even have Return on Equity (“ROE”) targets.</li><li>In fact, less than 20% of SGX companies have 5-year average ROE of more than 10%, which is approximately the cost of equity for most companies.</li></ul>

We commend StarHub for putting shareholder returns as a key priority; it is front and centre in its annual reports, and a significant portion of the CEO’s compensation is tied to returns targets.This is certainly not common among SGX listed companies, many of which do not even have Return on Equity (“ROE”) targets.In fact, less than 20% of SGX companies have 5-year average ROE of more than 10%, which is approximately the cost of equity for most companies.

Starhub Ltd: An Analysis of the Returns to Shareholders and Governance

Mid-market focused investment bank within SE Asia, Evolve Capital Advisory Pte Ltd

Evolve Capital Research

Mid-market focused investment bank within SE Asia

Evolve Capital Advisory Pte Ltd

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/isoteam-ltd" target="_blank" data-smartkarma-citation="entities:6201:1" rel="noopener">Isoteam Ltd (ISO SP)</a> is a SGX-Catalist listed company with a focus on Singapore’s building maintenance and estate upgrading industry, providing solutions across the entire lifecycle of buildings and infrastructure. </li>
<li>Since inception, the firm has completed over 900 projects on more than 7,500 buildings. Its projects are mainly based in Singapore, with approximately 70% derived from public sector contracts. </li>
<li>We initiate non-rated coverage on ISOTeam. Post-COVID, the firm's order book has rebounded and profitability is back in the black since FY23. </li>
</ul>



Isoteam Ltd (ISO SP) is a SGX-Catalist listed company with a focus on Singapore’s building maintenance and estate upgrading industry, providing solutions across the entire lifecycle of buildings and infrastructure. 
Since inception, the firm has completed over 900 projects on more than 7,500 buildings. Its projects are mainly based in Singapore, with approximately 70% derived from public sector contracts. 
We initiate non-rated coverage on ISOTeam. Post-COVID, the firm's order book has rebounded and profitability is back in the black since FY23. 


ISOTeam Initiation - Order Book Close to Record High

GEMS Reports, Aletheia Capital

GEMS Research – Aletheia Capital

GEMS Reports

Independent and original Asian investment research

Aletheia Capital

Aletheia Capital (HK) Ltd. (previously known as Asianomics) combines the extensive knowledge of its experienced team with technology and regulatory changes to disrupt Global Markets business in Asia. The firm is completely independent with no conflicts of interest either on Investment Banking advisory or Capital Markets execution.

Yangzijiang Shipbuilding / Equity Bottom-Up

<ul><li>Singapore’s yield superiority is not restricted to the REIT and Banking Sectors.</li><li>There are 13 stocks (that are not REITs or Banks) that have been identified as high performing dividend stocks.</li><li>These stocks trade more than US$3m ADT in the last six months and are outside the REIT and Banking sectors. </li></ul>

Singapore’s yield superiority is not restricted to the REIT and Banking Sectors.There are 13 stocks (that are not REITs or Banks) that have been identified as high performing dividend stocks.These stocks trade more than US$3m ADT in the last six months and are outside the REIT and Banking sectors. 

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.

<ul><li>Global communication indices have outpaced broader global benchmarks this year, while Singtel, AIS TH SDR, NetLink, Starhub and APTT have averaged 20% total returns.</li><li>Singtel has led these five counters this year, with a 37% total return, while also seeing its 2024 ADT soar 90% from 2023 levels.</li><li>Singtel has led the net insti inflow into all local stocks this year with S$938 million of net buying.</li></ul>

Global communication indices have outpaced broader global benchmarks this year, while Singtel, AIS TH SDR, NetLink, Starhub and APTT have averaged 20% total returns.Singtel has led these five counters this year, with a 37% total return, while also seeing its 2024 ADT soar 90% from 2023 levels.Singtel has led the net insti inflow into all local stocks this year with S$938 million of net buying.

Key Telecommunication Stocks On the Move in Singapore 

Thematic (Sector/Industry)

<ul><li>Singapore stands out as a compelling market for income investing.</li><li>Singapore has consistently offered superior dividend yields relative to its ASEAN peers and the broader MSCI Asia ex-Japan Index.</li><li>Most global markets focus on capital appreciation. Singapore’s listed equities on the SGX (Singapore Exchange) have been favoured by investors seeking stable and rising income streams.</li></ul>

Singapore stands out as a compelling market for income investing.Singapore has consistently offered superior dividend yields relative to its ASEAN peers and the broader MSCI Asia ex-Japan Index.Most global markets focus on capital appreciation. Singapore’s listed equities on the SGX (Singapore Exchange) have been favoured by investors seeking stable and rising income streams.

What Are Singapore’s Dividend Diamonds?

Singapore

StarHub Ltd. is a fully-integrated info-communication company offering a full range of information, communications, and entertainment services for both consumer and corporate markets in Singapore. The Company provides mobile network and multi-channel cable TV services, including high definition and on-demand services, as well as high-speed residential broadband services.

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StarHub Ltd (STH SP)

Starhub Ltd: An Analysis of the Returns to Shareholders and Governance

We commend StarHub for putting shareholder returns as a key priority; it is front and centre in its annual reports, and a significant portion...

Corporate Monitor Limited

ISOTeam Initiation - Order Book Close to Record High

Isoteam is a SGX-Catalist listed company focusing on Singapore’s building maintenance and estate upgrading industry, providing solutions across the...

Evolve Capital Advisory Pte Ltd

Which Dividend Diamonds Will Sparkle?

We have expanded our dividend analysis to find the players that could provide a dividend surprise. We have found that Yangzijiang Shipbuilding and...

GEMS Research – Aletheia Capital

Key Telecommunication Stocks On the Move in Singapore

Global communication indices have outpaced broader global benchmarks this year, while Singtel, AIS TH SDR, NetLink, Starhub and APTT have averaged...

Singapore Exchange Ltd (SGX)

What Are Singapore’s Dividend Diamonds?

Singapore stands out as a compelling market for income investing. Singapore has consistently offered superior dividend yields relative to its ASEAN...

GEMS Research – Aletheia Capital

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