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>Wilmar chairman Kuok, QAF MD Lin Kejian continue to build interests OCBC led the share buyback consideration tally, buying back 2 million shares at an average price of S$12.67 per share, followed by Olam Group, which bought back 7 million shares at an average price of S$1.08 per share.</li><li>Between Sep 13 and Sep 15, QAF joint group managing director and executive director Lin Kejian acquired 945,600 shares at an average price of S$0.824 per share.</li></ul>

Wilmar chairman Kuok, QAF MD Lin Kejian continue to build interests OCBC led the share buyback consideration tally, buying back 2 million shares at an average price of S$12.67 per share, followed by Olam Group, which bought back 7 million shares at an average price of S$1.08 per share.Between Sep 13 and Sep 15, QAF joint group managing director and executive director Lin Kejian acquired 945,600 shares at an average price of S$0.824 per share.

Wilmar’s Chairman Kuok & QAF MD Lin Kejian Continue to Build Interests

<ul><li>Kopi-C with StarHub’s CEO: “There’s no other telco like ours” StarHub’s CEO Nikhil Eapen shares how reinvention and diversification can help firms to retain and attract more customers for long-term growth After nearly a year at the helm, Eapen launched StarHub’s new DARE+ initiative in late 2021, a visionary plan to offer new products and services to connect customers’ digital lives.</li></ul>

Kopi-C with StarHub’s CEO: “There’s no other telco like ours” StarHub’s CEO Nikhil Eapen shares how reinvention and diversification can help firms to retain and attract more customers for long-term growth  After nearly a year at the helm, Eapen launched StarHub’s new DARE+ initiative in late 2021, a visionary plan to offer new products and services to connect customers’ digital lives.

kopi-C with StarHub’s CEO: “There’s no other telco like ours”

<ul><li>Share buybacks by primary listed companies 25 - 31 Aug 2023 UOB again led the share buyback consideration tally, buying back 360,000 shares at an average price of S$28.41 per share, followed by Olam Group which bought back 3.25 million shares at an average price of S$1.25 per share.</li><li>Between Aug 28 and 31, SunMoon Food Company non-independent and non-executive director Song XiaoJun acquired 2,055,500 shares at an average price of S$0.02 per share.</li></ul>

Share buybacks by primary listed companies 25 - 31 Aug 2023 UOB again led the share buyback consideration tally, buying back 360,000 shares at an average price of S$28.41 per share, followed by Olam Group which bought back 3.25 million shares at an average price of S$1.25 per share.Between Aug 28 and 31, SunMoon Food Company non-independent and non-executive director Song XiaoJun acquired 2,055,500 shares at an average price of S$0.02 per share.

Directors of agri-food and F&B companies raise their stakes

External broker reports(aggregated public sources), UOB Kay Hian

UOB Kay Hian

External broker reports(aggregated public sources)

Backed by the UOB Group, UOB Kay Hian is one of Asia’s largest brokerage firms. Headquartered in Singapore, we are supported by more than 80 branches worldwide including a growing network of offices across Southeast Asia, Greater China, the United Kingdom and North America. Our global footprint and strong international presence have enabled us to feel the pulse of key financial markets and deliver incisive intelligence across industry sectors and asset classes. 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>StarHub (SGX:CC3) exceeded its 2023 guidance checklist in 1Q23.</li><li>1Q23 headline revenue and service revenue grew 8.7% y-o-y and 11.0% y-o-y respectively, driven by higher ARPU uplift across all segments and the consolidation of MyRepublic Broadband.</li><li>StarHub reported 1Q23 headline revenue and PATMI of S$577.4m (+8.7% y-o-y) and S$37.5m (+26.3% y-o-y) respectively, above our expectations and forming 26.5% and 30.7% of our full-year forecasts respectively.</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.

StarHub (SGX:CC3) exceeded its 2023 guidance checklist in 1Q23.1Q23 headline revenue and service revenue grew 8.7% y-o-y and 11.0% y-o-y respectively, driven by higher ARPU uplift across all segments and the consolidation of MyRepublic Broadband.StarHub reported 1Q23 headline revenue and PATMI of S$577.4m (+8.7% y-o-y) and S$37.5m (+26.3% y-o-y) respectively, above our expectations and forming 26.5% and 30.7% of our full-year forecasts respectively.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.

StarHub - 1Q23 Exceeds Expectations; Strong Start To 2023

External broker reports(aggregated public sources), RHB Invest

RHB Invest

RHB Investment Bank is one of the leading capital market players in Malaysia. Supported by an award-winning research team of experienced product specialists, RHB Group Investment Banking offers a full range of investment banking products and services covering primary markets, such as advisory (corporate & debt restructuring, mergers and acquisitions, takeovers), fundraising via both equity and debt instruments, and secondary markets including securities trading for both institutional and retail clients. 

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>StarHub’s 1Q23 results were broadly in line.</li><li>We expect operating expenses and capex related to the DARE+ transformation programme to ramp up in subsequent quarters, notwithstanding the strong 26% y-o-y pick-up in 1Q23 earnings, which were bolstered in part by seasonally stronger EBITDA margins.</li><li>StarHub (SGX:CC3)'s 1Q23 core earnings (adjusted for one-off opex in the preceding quarter) jumped 26% y-o-y (+45.3% q-o-q) on seasonally stronger EBITDA margin and a 11% y-o-y lift in service revenue – slightly ahead of the full-year guidance.</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.

StarHub’s 1Q23 results were broadly in line.We expect operating expenses and capex related to the DARE+ transformation programme to ramp up in subsequent quarters, notwithstanding the strong 26% y-o-y pick-up in 1Q23 earnings, which were bolstered in part by seasonally stronger EBITDA margins.StarHub (SGX:CC3)'s 1Q23 core earnings (adjusted for one-off opex in the preceding quarter) jumped 26% y-o-y (+45.3% q-o-q) on seasonally stronger EBITDA margin and a 11% y-o-y lift in service revenue – slightly ahead of the full-year guidance.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.

StarHub - Harvesting Early DARE+ Outcomes

Singapore

StarHub is a Singaporean multinational telecommunications conglomerate that provides mobile, broadband internet, pay TV, and enterprise solutions including cybersecurity, cloud services, data analytics, IoT, and robotics. Headquartered in Singapore, the company was founded on May 7, 1998.

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StarHub (STH SP)

Wilmar’s Chairman Kuok & QAF MD Lin Kejian Continue to Build Interests

Wilmar chairman Kuok, QAF MD Lin Kejian continue to build interests OCBC led the share buyback consideration tally, buying back 2 million shares...

Singapore Exchange Ltd (SGX)

kopi-C with StarHub’s CEO: “There’s no other telco like ours”

Kopi-C with StarHub’s CEO: “There’s no other telco like ours” StarHub’s CEO Nikhil Eapen shares how reinvention and diversification can help firms...

Singapore Exchange Ltd (SGX)

Directors of agri-food and F&B companies raise their stakes

Share buybacks by primary listed companies 25 - 31 Aug 2023 UOB again led the share buyback consideration tally, buying back 360,000 shares at an...

Singapore Exchange Ltd (SGX)

StarHub - 1Q23 Exceeds Expectations; Strong Start To 2023

StarHub (SGX:CC3) exceeded its 2023 guidance checklist in 1Q23. 1Q23 headline revenue and service revenue grew 8.7% y-o-y and 11.0% y-o-y respectively

UOB Kay Hian

StarHub - Harvesting Early DARE+ Outcomes

We expect operating expenses and capex related to the DARE+ transformation programme to ramp up in subsequent quarters, notwithstanding the strong...

RHB Invest

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