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

Zheneng Jinjiang Environment / Equity Bottom-Up

It might not be a stretch to say that bridge - one of the world's most popular card games - is in Wang Yuanluo's blood.
An accomplished bridge enthusiast, the Chairman of SGX-listed China Jinjiang Environment Holding Co Ltd hones her management skills by playing the tac cal game, which involves partnerships, auctions, and contracts.
A well-known mo o of the game - "The most important single skill any bridge player can possess is to be a good partner" - underscores the critical role that teamwork plays in any organisation, said Wang, who started playing bridge nearly four decades ago through her father's influence.
"It's not only about assessing the risks and making the right decisions, but also working with your team to reach a common goal," she noted.

It might not be a stretch to say that bridge - one of the world's most popular card games - is in Wang Yuanluo's blood.
An accomplished bridge enthusiast, the Chairman of SGX-listed China Jinjiang Environment Holding Co Ltd hones her management skills by playing the tac cal game, which involves partnerships, auctions, and contracts.
A well-known mo o of the game - "The most important single skill any bridge player can possess is to be a good partner" - underscores the critical role that teamwork plays in any organisation, said Wang, who started playing bridge nearly four decades ago through her father's influence.
"It's not only about assessing the risks and making the right decisions, but also working with your team to reach a common goal," she noted.

China Jinjiang Environment Tackles Growing Garbage Crisis

Credit Analyst, Lucror Analytics

Chuanyi Zhou

Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Debt Capital Markets

Zheneng Jinjiang Environment / Debt Capital Markets

China Jinjiang Environment (CJE) has priced its first time USD Notes. The size of the issuance is USD 200 mn due 2020. The coupon is at 6% and offered at 99.326, implying yield of 6.25% (IPT 6.5%). The Notes will be guaranteed by subsidiary guarantors. The company intends to use the proceeds for development of overseas waste-to-energy (WTE) projects. The company is rated Ba2/BB by Moody’s and S&P, respectively, with stable outlooks. The banker is MS. CJE is a WTE operator in China, with the largest waste treatment capacity. The company has an operating history of 18 years, and has been listed in SGX since August 2016. We view the current pricing of 6.25% as rich, given the event risk and oversea expansion plan.

China Jinjiang Environment (CJE) has priced its first time USD Notes. The size of the issuance is USD 200 mn due 2020. The coupon is at 6% and offered at 99.326, implying yield of 6.25% (IPT 6.5%). The Notes will be guaranteed by subsidiary guarantors. The company intends to use the proceeds for development of overseas waste-to-energy (WTE) projects. The company is rated Ba2/BB by Moody’s and S&P, respectively, with stable outlooks. The banker is MS. CJE is a WTE operator in China, with the largest waste treatment capacity. The company has an operating history of 18 years, and has been listed in SGX since August 2016.  We view the current pricing of 6.25% as rich, given the event risk and oversea expansion plan. 

China Jinjiang - New Issue Snapshot - Lucror Analytics

APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

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

Research Reinvented

Equity Capital Markets

Zheneng Jinjiang Environment / Equity Capital Markets

China Jinjiang Environment (CJE) is looking to raise US$137m in its IPO in Singapore, to fund acquisitions of two Waste To Energy (WTE) plants, investment in operating and pipeline projects and to pay down some debt.In this insight, we look into details of its operation and highlight corporate governance risks. Lastly, we compare China Jinjiang Environment with other listed peers.

China Jinjiang Environment (CJE) is looking to raise US$137m in its IPO in Singapore, to fund acquisitions of two Waste To Energy (WTE) plants, investment in operating and pipeline projects and to pay down some debt.In this insight, we look into details of its operation and highlight corporate governance risks. Lastly, we compare China Jinjiang Environment with other listed peers.

China Jinjiang Environment - An Average Waste to Energy Player in a Tough Environment

China

Zheneng Jinjiang Environment is a leading waste-to-energy (WTE) operator that provides recycling services, including the generation and sale of electricity and steam from municipal solid waste. The company also offers project management, technical consulting, and energy management contracting services. It is headquartered in Hangzhou, China, and was founded in 1998.

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Zheneng Jinjiang Environment (ZJE SP)

China Jinjiang Environment Tackles Growing Garbage Crisis

It might not be a stretch to say that bridge - one of the world's most popular card games - is in Wang Yuanluo's blood. An accomplished bridge...

Singapore Exchange Ltd (SGX)

China Jinjiang - New Issue Snapshot - Lucror Analytics

China Jinjiang Environment (CJE) has priced its first time USD Notes. The size of the issuance is USD 200 mn due 2020. The coupon is at 6% and...

Lucror Analytics

China Jinjiang Environment - An Average Waste to Energy Player in a Tough Environment

China Jinjiang Environment (CJE) is looking to raise US$137m in its IPO in Singapore, to fund acquisitions of two Waste To Energy (WTE) plants,...

Zhen Zhou, Toh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)