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>Net institutional inflows in Singapore's Technology sector reached S$572.6 million, concentrated in semiconductor production and AI hardware segments.</li><li>Valuation expansion is led by semiconductor-linked companies with AEM Holdings, UMS Integration, and Frencken Group showing significant P/E increases.</li><li>InnoTek's valuation reflects AI hardware demand, supported by institutional investments and its positioning in AI server supply chains.</li></ul>

Net institutional inflows in Singapore's Technology sector reached S$572.6 million, concentrated in semiconductor production and AI hardware segments.Valuation expansion is led by semiconductor-linked companies with AEM Holdings, UMS Integration, and Frencken Group showing significant P/E increases.InnoTek's valuation reflects AI hardware demand, supported by institutional investments and its positioning in AI server supply chains.

Semiconductor Test, Equipment and AI Demand Driving Flows and Re rating

<ul><li>SATS reported record FY26 revenue of S$6.35 billion, with a 17.0% increase in net profit from FY25.</li><li>Venture Corporation's revenue rose 1.9% YoY to S$628.5 million, supported by demand in technology segments.</li><li>UMS Integration's 1QFY26 revenue increased 20% YoY to S$69.4 million, with net profit rising 43% YoY.</li></ul>

SATS reported record FY26 revenue of S$6.35 billion, with a 17.0% increase in net profit from FY25.Venture Corporation's revenue rose 1.9% YoY to S$628.5 million, supported by demand in technology segments.UMS Integration's 1QFY26 revenue increased 20% YoY to S$69.4 million, with net profit rising 43% YoY.

STI Delivers 3.3% May Total Return as Economic Resilience Supports Market

<ul><li>Intel's 1Q26 results showed a 22% year-on-year increase in data centre and AI revenue, indicating strong demand for AI infrastructure.</li><li>Singapore's technology sector saw increased trading activity, institutional participation, and valuation multiples, with a shift to net institutional inflows.</li><li>Nanofilm's 1QFY26 update highlighted revenue growth, margin expansion, and cost control, leading to a 166% price gain in April.</li></ul>

Intel's 1Q26 results showed a 22% year-on-year increase in data centre and AI revenue, indicating strong demand for AI infrastructure.Singapore's technology sector saw increased trading activity, institutional participation, and valuation multiples, with a shift to net institutional inflows.Nanofilm's 1QFY26 update highlighted revenue growth, margin expansion, and cost control, leading to a 166% price gain in April.

Singapore’s Tech Rally: From Narrative to Delivery

Smartkarma's AI Co-Pilot, Smartkarma

αSK

Smartkarma's AI Co-Pilot

Smartkarma

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

Research Reinvented

<ul>
 <li>
<a href="https://smartkarma.com/entities/venture-corp-ltd">Venture Corp</a> demonstrates resilient execution through stable net margins of approximately 9% despite a recent downturn in revenue, showcasing strong cost control.</li>
 <li>The company is strategically focused on enhancing shareholder returns, evidenced by a stable and growing dividend policy and an active share buyback program.</li>
 <li>A return to growth is anticipated for FY26, driven by a recovery in the lifestyle products segment, new product introductions in the data center space, and increasing customer collaborations across its high-value technology domains.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
Venture Corp demonstrates resilient execution through stable net margins of approximately 9% despite a recent downturn in revenue, showcasing strong cost control.
  The company is strategically focused on enhancing shareholder returns, evidenced by a stable and growing dividend policy and an active share buyback program.
  A return to growth is anticipated for FY26, driven by a recovery in the lifestyle products segment, new product introductions in the data center space, and increasing customer collaborations across its high-value technology domains.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Alpha-Centric ESG Research

Kyle Rudden

<ul>
<li>The Monetary Authority of Singapore (MAS) recently launched a public consultation regarding a Code of Conduct for ESG ratings providers and ESG data product providers in Singapore.</li>
<li>It is the right approach for Singapore – a voluntary best-practices framework furthering one of the world's most credible "green" economies, not a regulatory force-fix of something broken.</li>
<li>No surprise ratings methodology changes. No en masse upgrades/downgrades. No acute shocks to the system. Just slow and steady progress for ESG investing and finance in Singapore.</li>
</ul>


The Monetary Authority of Singapore (MAS) recently launched a public consultation regarding a Code of Conduct for ESG ratings providers and ESG data product providers in Singapore.
It is the right approach for Singapore – a voluntary best-practices framework furthering one of the world's most credible "green" economies, not a regulatory force-fix of something broken.
No surprise ratings methodology changes. No en masse upgrades/downgrades. No acute shocks to the system. Just slow and steady progress for ESG investing and finance in Singapore.


Singapore Code of Conduct for ESG Ratings Is Less Risk and More Reward

Singapore

Venture Corporation is a leading global provider of technology services, products, and solutions, offering capabilities in research and development, product industrialization, advanced manufacturing, and supply chain management. The company serves diverse technology domains such as life sciences, MedTech, lifestyle and wellness, smart industrial, and next-gen communications. Headquartered in Singapore, Venture Corporation was established in 1989.

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Venture Corporation (VMS SP)

Semiconductor Test, Equipment and AI Demand Driving Flows and Re rating

Net institutional inflows in Singapore's Technology sector reached S$572.6 million, concentrated in semiconductor production and AI hardware...

Singapore Exchange Ltd (SGX)

STI Delivers 3.3% May Total Return as Economic Resilience Supports Market

SATS reported record FY26 revenue of S$6.35 billion, with a 17.0% increase in net profit from FY25. Venture Corporation's revenue rose 1.9% YoY to...

Singapore Exchange Ltd (SGX)

Singapore’s Tech Rally: From Narrative to Delivery

Intel's 1Q26 results showed a 22% year-on-year increase in data centre and AI revenue, indicating strong demand for AI infrastructure. Singapore's...

Singapore Exchange Ltd (SGX)

Primer: Venture Corp (VMS SP) - Mar 2026

Venture Corp demonstrates resilient execution through stable net margins of approximately 9% despite a recent downturn in revenue, showcasing...

αSK

Singapore Code of Conduct for ESG Ratings Is Less Risk and More Reward

Singapore's Code of Conduct for ESG ratings is more light-handed than other regulation-based approaches, but therein lies the "less risk and more...

Kyle Rudden

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