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.

Asia’s leading multi-asset exchange

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Equity Bottom-Up

<h2>10 Questions for Heeton Holdings</h2>
Company Overview Heeton Holdings is a real estate company focused on property development, investment and management. It has a diverse real estate portfolio comprising quality residential and commercial properties, and has rapidly expanded its geographical footprint across Singapore, Thailand, Australia, Japan, and the UK. Since 2011, Heeton has further diversified its portfolio into the hospitality asset class, with the vision of becoming a strategic player in the international hospitality sector.
<ol>
<li>What are Heeton’s business mix and segments? Which are the key revenue/growth drivers?</li>
</ol>
<ul>
<li>Heeton operates three business segments:
<ul>
<li>Property development (17.0%) – As a boutique property developer, it develops distinctive, quality residential properties in major cities in the world including Singapore, Bangkok and London. It started to venture into township development with projects in Leeds, UK and Gaobeidian, China.</li>
<li>Property Investment (17.3%) – The Heeton Group manages a stable portfolio of investment properties ranging from hotels and residences to commercial properties including shopping malls and serviced offices. Hospitality assets are currently the Group’s key focus area and it has a portfolio of 13 operating hotels across the UK, Japan and Thailand.</li>
<li>Hospitality (63.7%) – This segment covers hotel operational income, which is derived from Heeton managing either hotel operations under a franchise or a hotel of its own brand.</li>
</ul>
</li>
<li>We expect the hotel development and management business to continue to be the key revenue driver for the Group as we continue to look for opportunities to expand our hospitality portfolio.</li>
</ul>
2. Heeton was primarily focused on the development of residential properties. In 2011, there was a shift in focus to hospitality properties, with strong focus on the UK. Why so?
<ul>
<li>Macroeconomic volatility and risks, and policy changes by the Singapore government such as the implementation of cooling measures have created challenges for the property market. Hence, we decided to branch out into the hospitality sector as it offers a stable long-term source of recurring income for the Group. Nevertheless, we will continue to identify opportunities for development projects.</li>
<li>We did not set out to focus on the UK. Rather, it was a market that we were familiar with, given our two residential development properties in the UK, namely the 15-unit Britton and the 14-unit Earlington in London. This gave us a reasonably good understanding of the UK property sector and a network of business contacts to enter into the UK hospitality segment.</li>
</ul>

10 Questions for Heeton Holdings
Company Overview Heeton Holdings is a real estate company focused on property development, investment and management. It has a diverse real estate portfolio comprising quality residential and commercial properties, and has rapidly expanded its geographical footprint across Singapore, Thailand, Australia, Japan, and the UK. Since 2011, Heeton has further diversified its portfolio into the hospitality asset class, with the vision of becoming a strategic player in the international hospitality sector.

What are Heeton’s business mix and segments? Which are the key revenue/growth drivers?


Heeton operates three business segments:

Property development (17.0%) – As a boutique property developer, it develops distinctive, quality residential properties in major cities in the world including Singapore, Bangkok and London. It started to venture into township development with projects in Leeds, UK and Gaobeidian, China.
Property Investment (17.3%) – The Heeton Group manages a stable portfolio of investment properties ranging from hotels and residences to commercial properties including shopping malls and serviced offices. Hospitality assets are currently the Group’s key focus area and it has a portfolio of 13 operating hotels across the UK, Japan and Thailand.
Hospitality (63.7%) – This segment covers hotel operational income, which is derived from Heeton managing either hotel operations under a franchise or a hotel of its own brand.


We expect the hotel development and management business to continue to be the key revenue driver for the Group as we continue to look for opportunities to expand our hospitality portfolio.

2. Heeton was primarily focused on the development of residential properties. In 2011, there was a shift in focus to hospitality properties, with strong focus on the UK. Why so?

Macroeconomic volatility and risks, and policy changes by the Singapore government such as the implementation of cooling measures have created challenges for the property market. Hence, we decided to branch out into the hospitality sector as it offers a stable long-term source of recurring income for the Group. Nevertheless, we will continue to identify opportunities for development projects.
We did not set out to focus on the UK. Rather, it was a market that we were familiar with, given our two residential development properties in the UK, namely the 15-unit Britton and the 14-unit Earlington in London. This gave us a reasonably good understanding of the UK property sector and a network of business contacts to enter into the UK hospitality segment.


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