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>Earnings Focus Reduces Buybacks & Director Acquisition Filings The Hour Glass led the buyback consideration tally, buying back 795,000 shares at an average price of S$1.55 per share over two sessions.</li><li>Directors or CEOs filed eight acquisitions and one disposal while substantial shareholders filed three acquisitions and two disposals.</li></ul>

Earnings Focus Reduces Buybacks & Director Acquisition Filings The Hour Glass led the buyback consideration tally, buying back 795,000 shares at an average price of S$1.55 per share over two sessions.Directors or CEOs filed eight acquisitions and one disposal while substantial shareholders filed three acquisitions and two disposals.

Earnings Focus Reduces Buybacks & Director Acquisition Filings

Research from SooChow CSSD Capital Markets (Asia), SCCM Asia Research

SCCM Asia Research

Research from SooChow CSSD Capital Markets (Asia)

Headquartered in Singapore, SooChow CSSD Capital Markets (Asia) is an investment bank focusing on emerging growth companies across Asia, providing a full suite of investment banking services, including corporate finance, mergers and acquisitions advisory, equity capital markets, institutional equities sales and trading and equities research.

SooChow CSSD Capital Markets (Asia)

Thematic (Sector/Industry)

<ul><li><a href="https://www.smartkarma.com/entities/guocoland-ltd" target="_blank" data-smartkarma-citation="entities:17467" rel="noopener">GuocoLand (GUOL SP)</a> previews Lentor Modern on 2Sep22 with starting price at S$1,880psf</li><li>Two 99-year leasehold residential sites in Bukit Timah Link and Hillview Rise released on market; Expect healthy interests from developers</li><li>Price gap between new suburban condos and million-dollar HDB flats widens to 53.6% vs 1.3% in 2019</li></ul>

GuocoLand (GUOL SP) previews Lentor Modern on 2Sep22 with starting price at S$1,880psfTwo 99-year leasehold residential sites in Bukit Timah Link and Hillview Rise released on market; Expect healthy interests from developersPrice gap between new suburban condos and million-dollar HDB flats widens to 53.6% vs 1.3% in 2019

ASEAN Builder's Scoop (1Sep22) - GUOL Previews Lentor Modern at S$1,880psf

<ul><li><a href="https://www.smartkarma.com/entities/wing-tai-holdings-ltd" target="_blank" data-smartkarma-citation="entities:19015" rel="noopener">Wing Tai Holdings (WINGT SP)</a> FY22 net profit rose 222% YoY; Declared S$6c total dividends</li><li><a href="https://www.smartkarma.com/entities/frasers-property-ltd" target="_blank" data-smartkarma-citation="entities:1670" rel="noopener">Frasers Property Ltd (FPL SP)</a> to launch Sky Eden@Bedok with indicative pricing from S$1,937psf</li><li>Prime freehold resale homes on market at cheaper or equal to new OCR leasehold prices</li></ul>

Wing Tai Holdings (WINGT SP) FY22 net profit rose 222% YoY; Declared S$6c total dividendsFrasers Property Ltd (FPL SP) to launch Sky Eden@Bedok with indicative pricing from S$1,937psfPrime freehold resale homes on market at cheaper or equal to new OCR leasehold prices

ASEAN Builder's Scoop (26Aug22) - WINGT FY22 Earnings Rose 222%, Declared S$6c Total Divvy

<ul><li><a href="https://www.smartkarma.com/entities/wing-tai-holdings-ltd" target="_blank" data-smartkarma-citation="entities:19015" rel="noopener">Wing Tai Holdings (WINGT SP)</a> wins tender for Lakeside apartments collective sale</li><li>SingLand gets URA provisional nod to redevelop Clifford Centre</li><li>More Singapore property developers expect prices of new launches to go up</li></ul>

Wing Tai Holdings (WINGT SP) wins tender for Lakeside apartments collective saleSingLand gets URA provisional nod to redevelop Clifford CentreMore Singapore property developers expect prices of new launches to go up

ASEAN Builder's Scoop (26May22) - WINGT Won Tender for Lakeside Apartments

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Far East Hospitality Trust / Equity Bottom-Up

<ul>
<li>Not all hospitality REITs in Singapore are beneficiaries of the rebound in tourism in Singapore. </li>
<li>Genting, OUE Commercial REIT, and Fraser Hospitality Trust are not exactly beneficiaries to the current tourism rebound. </li>
<li>Only Far East Hospitality Trust has a 100% exposure in hotels in Singapore while CDL Hospitality Trust has 41% of the total contribution from Singapore. </li>
</ul>


Not all hospitality REITs in Singapore are beneficiaries of the rebound in tourism in Singapore. 
Genting, OUE Commercial REIT, and Fraser Hospitality Trust are not exactly beneficiaries to the current tourism rebound. 
Only Far East Hospitality Trust has a 100% exposure in hotels in Singapore while CDL Hospitality Trust has 41% of the total contribution from Singapore. 


Southeast Asia Tourism: Who Are the Beneficiaries

Singapore

Wing Tai Holdings Limited is an investment holding company whose subsidiaries invest in and develop properties, manufacture woven labels, and trade garments and architectural products and accessories.  The Company also provides management services and operates restaurants.

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Wing Tai Holdings (WINGT SP)

Earnings Focus Reduces Buybacks & Director Acquisition Filings

Earnings Focus Reduces Buybacks & Director Acquisition Filings The Hour Glass led the buyback consideration tally, buying back 795,000 shares...

Singapore Exchange Ltd (SGX)

ASEAN Builder's Scoop (1Sep22) - GUOL Previews Lentor Modern at S$1,880psf

Two GLS sites on market, expect healthy interest; New suburbs condo-S$1+m HDB price widens to ~54%; DILD 1H22 net loss widens; No recovery in Phils...

SCCM Asia Research

ASEAN Builder's Scoop (26Aug22) - WINGT FY22 Earnings Rose 222%, Declared S$6c Total Divvy

FPL launching Sky Eden@Bedok from S$1,937psf onwards; Prime freehold resale/new OCR leasehold prices narrow; ASRI 1H22 earnings returns to black

SCCM Asia Research

ASEAN Builder's Scoop (26May22) - WINGT Won Tender for Lakeside Apartments

URA approved the redevelopment of Clifford Centre; SG developers expect higher prices for new launches; MPL develops land in Johor; BSP hints a...

SCCM Asia Research

Southeast Asia Tourism: Who Are the Beneficiaries

the real beneficiaries of the Singapore rebound in tourism (ex-China) are limited to a few names only. Far East Hospitality Trust and CDL...

Henry Soediarko

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