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>In 2025, 78 primary-listed Singapore companies repurchased S$1.91 billion in shares, a 90% increase from 2024.</li><li>17Live Group repurchased S$6.2 million shares, 3.4% of its market capitalisation, reflecting disciplined capital deployment.</li><li>Jason Marine Group's first buyback since 2015 followed a 40% revenue increase and strong project deliveries.</li></ul>

In 2025, 78 primary-listed Singapore companies repurchased S$1.91 billion in shares, a 90% increase from 2024.17Live Group repurchased S$6.2 million shares, 3.4% of its market capitalisation, reflecting disciplined capital deployment.Jason Marine Group's first buyback since 2015 followed a 40% revenue increase and strong project deliveries.

2025 Buyback Consideration Surpasses 10-year High

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

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

Research Reinvented

<ul>
 <li>
Strategic Shift to Higher-Margin Products: Valuetronics is successfully transitioning its product mix from lower-margin Consumer Electronics (CE) towards more profitable and complex Industrial and Commercial Electronics (ICE), which is driving margin expansion and net income growth despite a decline in overall revenue.</li>
 <li>
Robust Financial Position and Shareholder Returns: The company maintains a strong, debt-free balance sheet with a significant net cash position, which represents a large portion of its market capitalization. This financial strength supports consistent dividend payments, special dividends, and share buyback programs, offering attractive returns to shareholders.</li>
 <li>
Dual Manufacturing Footprint Mitigates Geopolitical Risk: With established manufacturing campuses in both China and Vietnam, Valuetronics offers customers a 'China+1' strategy, providing supply chain diversification to mitigate risks from US-China trade tensions and tariffs.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
Strategic Shift to Higher-Margin Products: Valuetronics is successfully transitioning its product mix from lower-margin Consumer Electronics (CE) towards more profitable and complex Industrial and Commercial Electronics (ICE), which is driving margin expansion and net income growth despite a decline in overall revenue.
  
Robust Financial Position and Shareholder Returns: The company maintains a strong, debt-free balance sheet with a significant net cash position, which represents a large portion of its market capitalization. This financial strength supports consistent dividend payments, special dividends, and share buyback programs, offering attractive returns to shareholders.
  
Dual Manufacturing Footprint Mitigates Geopolitical Risk: With established manufacturing campuses in both China and Vietnam, Valuetronics offers customers a 'China+1' strategy, providing supply chain diversification to mitigate risks from US-China trade tensions and tariffs.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Valuetronics Holdings (VALUE SP) - Apr 2026

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

Thematic (Sector/Industry)

<ul>
<li>We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Five stocks remain, nine stocks added into portfolio</li>
<li>Since its inception, the portfolio has generated a before-fee total return of 333% versus MSCI ASEAN’s 83%</li>
</ul>


We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology
Portfolio changes: Five stocks remain, nine stocks added into portfolio
Since its inception, the portfolio has generated a before-fee total return of 333% versus MSCI ASEAN’s 83%


<ul>
<li>We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Four stocks remain, 10 stocks added into portfolio</li>
<li>Since its inception, the portfolio has generated a before-fee total return of 301% versus MSCI ASEAN’s 64%</li>
</ul>


We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology
Portfolio changes: Four stocks remain, 10 stocks added into portfolio
Since its inception, the portfolio has generated a before-fee total return of 301% versus MSCI ASEAN’s 64%


Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

<ul>
<li>CGSI's Ong increases Pan-United target price from $1.55 to $1.85.</li>
<li>KGI's Chen starts coverage on OKP, rating it 'outperform' with a $1.31 target.</li>
<li>RHB starts coverage on Tai Sin Electric with a 'buy' rating and 75 cents target.</li>
</ul>


CGSI's Ong increases Pan-United target price from $1.55 to $1.85.
KGI's Chen starts coverage on OKP, rating it 'outperform' with a $1.31 target.
RHB starts coverage on Tai Sin Electric with a 'buy' rating and 75 cents target.


Singapore Market Roundup (05-Jun-2026): CGSI's Ong raises Pan-United target price to $1.85.

Hong Kong

Valuetronics is an integrated Electronics Manufacturing Service (EMS) provider, offering design, engineering, manufacturing, and supply chain support for electronic and electro-mechanical products. The company specializes in Original Equipment Manufacturing (OEM) services, including PCBA and box-build assembly, for products such as smart lighting, printers, automotive, and medical equipment. It was established in 1992 and is headquartered in Hong Kong.

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Valuetronics (VALUE SP)

2025 Buyback Consideration Surpasses 10-year High

In 2025, 78 primary-listed Singapore companies repurchased S$1.91 billion in shares, a 90% increase from 2024. 17Live Group repurchased S$6.2...

Singapore Exchange Ltd (SGX)

Primer: Valuetronics Holdings (VALUE SP) - Apr 2026

Strategic Shift to Higher-Margin Products: Valuetronics is successfully transitioning its product mix from lower-margin Consumer Electronics...

αSK Primers

The Stocks to Own in ASEAN – Vol. 56

We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology. Portfolio changes: Five stocks remain; nine stocks were...

A. Stotz Investment Research

The Stocks to Own in ASEAN – Vol. 55

We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology. Portfolio changes: Four stocks remain, 10 stocks added.

A. Stotz Investment Research

Singapore Market Roundup (05-Jun-2026): CGSI's Ong raises Pan-United target price to $1.85.

CGSI's Ong raises Pan-United target price to $1.85. KGI's Chen starts coverage on OKP, rating it 'outperform' with a $1.31 target.

Singapore Market Roundup

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