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.

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Oil & Maritime Indices Veered on Global Growth

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

This week I briefly look at recent bifurcations in: <a href="https://www.smartkarma.com/entities/21536" target="_blank" data-smartkarma-citation="entities:21536:1">Renault SA (RNO FP)</a> wherein the French government reduced its stake to 15.1% from 19.8%;  <a href="https://www.smartkarma.com/entities/8122" target="_blank" data-smartkarma-citation="entities:8122:1">Kingboard Chemical Holdings (148 HK)</a>, which sold its entire 9.6% stake in <a href="https://www.smartkarma.com/entities/243" target="_blank" data-smartkarma-citation="entities:243:1">Cathay Pacific Airways (293 HK)</a> to Qatar Airways; amongst others.These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold - the $ value of the holding/opco held, over the parent’s market capitalisation, expressed as a % - of at least 20%.A detailed NAV for a number of these parent/holding relationships highlighted can be found in our holdco monitor.

This week I briefly look at recent bifurcations in: Renault SA (RNO FP) wherein the French government reduced its stake to 15.1% from 19.8%;  Kingboard Chemical Holdings (148 HK), which sold its entire 9.6% stake in Cathay Pacific Airways (293 HK) to Qatar Airways; amongst others.These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold - the $ value of the holding/opco held, over the parent’s market capitalisation, expressed as a % - of at least 20%.A detailed NAV for a number of these parent/holding relationships highlighted can be found in our holdco monitor.

StubWorld - Set-Up & Unwind Extremes: Renault, Kingboard

This week I briefly look at recent (and ongoing) bifurcations in <a href="https://www.smartkarma.com/entities/15778" target="_blank" data-smartkarma-citation="entities:15778:1">Pasona Group Inc (2168 JP)</a>, <a href="https://www.smartkarma.com/entities/395" target="_blank" data-smartkarma-citation="entities:395:1">SK Telecom (017670 KS)</a>, <a href="https://www.smartkarma.com/entities/19943" target="_blank" data-smartkarma-citation="entities:19943:1">China Conch Venture Holdings Ltd (586 HK)</a>, <a href="https://www.smartkarma.com/entities/5290" target="_blank" data-smartkarma-citation="entities:5290:1">Guoco Group Ltd (53 HK)</a>, amongst others.These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold - the $ value of the holding/opco held, over the parent’s market capitalisation, expressed as a % - of at least 20%.A detailed NAV for a number of these parent/holding relationships highlighted can be found in our <a href="https://www.smartkarma.com/tools/holdcos" target="_blank">holdco monitor</a>.(Market cap and liquidity noted below are in US$. Liquidity is assessed on a 3-month average)

This week I briefly look at recent (and ongoing) bifurcations in Pasona Group Inc (2168 JP), SK Telecom (017670 KS), China Conch Venture Holdings Ltd (586 HK), Guoco Group Ltd (53 HK), amongst others.These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold - the $ value of the holding/opco held, over the parent’s market capitalisation, expressed as a % - of at least 20%.A detailed NAV for a number of these parent/holding relationships highlighted can be found in our holdco monitor.(Market cap and liquidity noted below are in US$. Liquidity is assessed on a 3-month average)

StubWorld - Set-Up & Unwind Extremes: Pasona, SK Telecom, China Conch, Guoco

SGX Sustainability Leaders Index generated 15% YTD Total Return

Singapore

Sembcorp Industries Ltd provides utilities and integrated services for industrial sites such as power, gas, steam, water, wastewater treatment and other on-site services. The Company's businesses also include marine & offshore engineering and urban development comprising industrial parks and business, commercial and residential spaces.

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Sembcorp Industries (SCI SP)

Oil & Maritime Indices Veered on Global Growth

Singapore Exchange Ltd (SGX)

StubWorld - Set-Up & Unwind Extremes: Renault, Kingboard

This week I briefly look at recent bifurcations in: Renault SA (RNO FP) wherein the French government reduced its stake to 15.1% from...

David Blennerhassett

StubWorld - Set-Up & Unwind Extremes: Pasona, SK Telecom, China Conch, Guoco

This week I briefly look at recent (and ongoing) bifurcations in Pasona Group Inc (2168 JP), SK Telecom (017670 KS), China Conch Venture Holdings...

David Blennerhassett

STI September Quarter Earnings Schedule

Singapore Exchange Ltd (SGX)

SGX Sustainability Leaders Index generated 15% YTD Total Return

Singapore Exchange Ltd (SGX)

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