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

Wee Hur Holdings Ltd provides building construction services and acts as the management or main contractor in construction projects for both private and public sectors. The Company's clients from the private sector include property owners and developers, and those from the public sector comprise government bodies and statutory boards.

<ul><li>In Oct, the STI generated a 0.7% decline in total return, with the FTSE ASEAN All-Share Index declining in total return and FTSE Asia Pacific Index declining 8%.</li><li>The trio of STI Banks averaged a 0.7% total return while the iEdge SG Adv Manufacturing Index declined 7% and the iEdge S-REIT Index declined 5.4%.</li><li>As detailed in the table above, among the 20 stocks that booked the highest net institutional inflow in Oct, Hongkong Land, Singapore Post, Wee Hur Holdings, DFI Retail Group Holdings and SATS generated the strongest total returns on the month, averaging 15.4% total returns.</li></ul>

In Oct, the STI generated a 0.7% decline in total return, with the FTSE ASEAN All-Share Index declining in total return and FTSE Asia Pacific Index declining 8%.The trio of STI Banks averaged a 0.7% total return while the iEdge SG Adv Manufacturing Index declined 7% and the iEdge S-REIT Index declined 5.4%.As detailed in the table above, among the 20 stocks that booked the highest net institutional inflow in Oct, Hongkong Land, Singapore Post, Wee Hur Holdings, DFI Retail Group Holdings and SATS generated the strongest total returns on the month, averaging 15.4% total returns.

HKL, SingPost & Wee Hur Led Net Institutional Inflow & Gainers in October

External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

Seritage Growth Properties / Equity Bottom-Up

Seritage Growth Properties is a real estate investment trust. The Company manages a portfolio of retail real estate properties which it leases to tenants throughout the United States.

<ul><li>Seritage Growth Properties entered liquidation in March 2022</li><li>Company has sold 87% of its portfolio, using proceeds to reduce debt significantly</li><li>Unsold assets estimated to be worth between $500 - $750 million, making preferred repayment likely and securities potentially generating a 34% return in one year</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Seritage Growth Properties entered liquidation in March 2022Company has sold 87% of its portfolio, using proceeds to reduce debt significantlyUnsold assets estimated to be worth between $500 - $750 million, making preferred repayment likely and securities potentially generating a 34% return in one yearThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Seritage Growth Properties (SRG.PA) - Friday, Aug 2, 2024

Listed Real Estate Asia, KT Capital Group

Jacob Cheng

Listed Real Estate Asia

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Hongkong Land is a major listed property investment, management and development group. 

The Group owns and manages more than 850,000 sq. m. of prime office and luxury retail property in key Asian cities, principally in Hong Kong, Singapore, Beijing and Jakarta.  The Group also has a number of high quality residential, commercial, and mixed-use projects under development in cities across Greater China and Southeast Asia.  In Singapore, its subsidiary, MCL Land, is a well-established residential developer.  

Hongkong Land Holdings Limited is incorporated in Bermuda and has a standard listing on the London Stock Exchange, with secondary listings in Bermuda and Singapore.  The Group’s assets and investments are managed from Hong Kong by Hongkong Land Limited.  Hongkong Land is a member of the Jardine Matheson Group.

<ul>
<li>HKL, a Central office landlord with more than 135 years of history, announced a strategy update, which we think is ambitious, dynamic, and bold</li>
<li>We think the strategic update is comprehensive, spreading across business operations, corporate governance and management alignment.  It will drive sustainable growth and deliver long-term shareholder’s returns</li>
<li>We think the proposed transformation can unlock value to shareholders, and tighten the NAV discount. </li>
</ul>


HKL, a Central office landlord with more than 135 years of history, announced a strategy update, which we think is ambitious, dynamic, and bold
We think the strategic update is comprehensive, spreading across business operations, corporate governance and management alignment.  It will drive sustainable growth and deliver long-term shareholder’s returns
We think the proposed transformation can unlock value to shareholders, and tighten the NAV discount. 


Hongkong Land HKL SP: A Strategic Update and on a Transformational Path

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior 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.

Credit

China Vanke Co., Ltd. operates real estate development businesses.  The Company provides housing renovation, housing loans, real estate brokerage, and other businesses. China Vanke also operates logistics, material supply, and other businesses.

<ul>
<li>In the US, September personal spending came in above estimates at 0.5% m-o-m (0.4% e / 0.3% revised p), while personal income edged up 0.3% m-o-m (0.3% e / 0.2% p).</li>
<li>Separately, the September PCE price index edged down to 2.1% y-o-y (2.1% e / 2.3% revised p), and was up 0.2% m-o-m (0.2% e / 0.1% p).</li>
<li>The core PCE price index rose 2.7% y-o-y (2.6% e / 2.7% p) and 0.3% m-o-m (0.3% e / 0.2% revised p). </li>
</ul>


In the US, September personal spending came in above estimates at 0.5% m-o-m (0.4% e / 0.3% revised p), while personal income edged up 0.3% m-o-m (0.3% e / 0.2% p).
Separately, the September PCE price index edged down to 2.1% y-o-y (2.1% e / 2.3% revised p), and was up 0.2% m-o-m (0.2% e / 0.1% p).
The core PCE price index rose 2.7% y-o-y (2.6% e / 2.7% p) and 0.3% m-o-m (0.3% e / 0.2% revised p). 


External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Prestige Estates Projects / Equity Bottom-Up

Prestige Estates Projects Ltd. develops real estate.  The Company builds residential projects including apartments, villas, plotted developments and integrated townships; commercial projects including corporate office buildings and technology parks; hotels and resorts; and retail buildings.

<ul><li>Launch trajectory for H2FY25: The management has guided a pre-sale of approximately Rs 24,000 Cr for the financial year.</li><li>In H1FY25, the company achieved pre-sales of around Rs 8,000 Cr.</li><li>The management is confident in reaching their guidance and launching major projects in the remaining quarters. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Launch trajectory for H2FY25: The management has guided a pre-sale of approximately Rs 24,000 Cr for the financial year.In H1FY25, the company achieved pre-sales of around Rs 8,000 Cr.The management is confident in reaching their guidance and launching major projects in the remaining quarters. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Prestige Estates Projects Ltd - Focus on H2 Launches; Maintain BUY

Real Estate
Real Estate Insights

HKL, SingPost & Wee Hur Led Net Institutional Inflow & Gainers in October

In Oct, the STI generated a 0.7% decline in total return, with the FTSE ASEAN All-Share Index declining in total return and FTSE Asia Pacific...

Singapore Exchange Ltd (SGX)

Seritage Growth Properties (SRG.PA) - Friday, Aug 2, 2024

Seritage Growth Properties entered liquidation in March 2022. Company has sold 87% of its portfolio, using proceeds to reduce debt significantly

Value Investors Club

Hongkong Land HKL SP: A Strategic Update and on a Transformational Path

Hongkong Land, the Central office landlord, announced a strategic update and we believe it is on a transformational path. The strategic update is...

Jacob Cheng

Lucror Analytics - Morning Views Asia

In the US, September personal spending came in above estimates at 0.5% m-o-m (0.4% e / 0.3% revised p), while personal income edged up 0.3% m-o-m...

Lucror Analytics

Prestige Estates Projects Ltd - Focus on H2 Launches; Maintain BUY

Launch trajectory for H2FY25: The management has guided a pre-sale of approximately Rs 24,000 Cr for the financial year. In H1FY25, the company...

Axis Direct