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>Share buybacks by primary listed companies 4 - 10 Aug 2023 Institutions were net buyers of Singapore stocks over the four trading sessions through to Aug 10, with S$136 million of net institutional inflow, with eight primary-listed companies conducting buybacks with a total consideration of S$7.7 million.</li><li>The previous mandate saw the company buy back 14,250,100 of its shares which represented 2.12 per cent of its total number of issued shares (excluding treasury shares).</li></ul>

Share buybacks by primary listed companies 4 - 10 Aug 2023 Institutions were net buyers of Singapore stocks over the four trading sessions through to Aug 10, with S$136 million of net institutional inflow, with eight primary-listed companies conducting buybacks with a total consideration of S$7.7 million.The previous mandate saw the company buy back 14,250,100 of its shares which represented 2.12 per cent of its total number of issued shares (excluding treasury shares).

Fortress Minerals’ CEO Ivan Chee raises his stake

ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/grab-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26950:1" rel="noopener">Grab</a> recently announced the acquisition of Trans-cab in Singapore, the 3rd largest taxi operator there. This will help to solve driver shortage issues and improve cost efficiencies.</li>
<li>Taxis pay the lowest COE prices plus Grab can improve the productivity of taxi drivers through access to the Grab app. Trans-cab gives Grab access to street hailing. </li>
<li>
<a href="https://www.smartkarma.com/entities/grab-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26950:1" rel="noopener">Grab</a>'s Singapore digital bank recently raised new capital but has also seen its deposit cap lifted significantly, which is helping to significantly boost deposit growth.</li>
</ul>



Grab recently announced the acquisition of Trans-cab in Singapore, the 3rd largest taxi operator there. This will help to solve driver shortage issues and improve cost efficiencies.
Taxis pay the lowest COE prices plus Grab can improve the productivity of taxi drivers through access to the Grab app. Trans-cab gives Grab access to street hailing. 

Grab's Singapore digital bank recently raised new capital but has also seen its deposit cap lifted significantly, which is helping to significantly boost deposit growth.


Grab Holdings (GRAB IJ) - Winning with Trans-Cab and Deposits in Singapore

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Far Eastone Telecomm / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/far-eastone-telecomm-co-ltd" target="_blank" data-smartkarma-citation="entities:19488:1" rel="noopener">Far Eastone Telecomm (4904 TT)</a>’s (FE) parent aims to raise around US$165m via selling 1.9% of its stake.</li>
<li>As far as we could see this appears to be the first selldown by the parent and doesn’t seem to have been well flagged.</li>
<li>In this note, we will run the deal through our ECM framework and comment on other deal dynamics.</li>
</ul>



Far Eastone Telecomm (4904 TT)’s (FE) parent aims to raise around US$165m via selling 1.9% of its stake.
As far as we could see this appears to be the first selldown by the parent and doesn’t seem to have been well flagged.
In this note, we will run the deal through our ECM framework and comment on other deal dynamics.


Far EasTone Placement - Parent Selling, Recent Momentum Has Been Strong

External broker reports(aggregated public sources), UOB Kay Hian

UOB Kay Hian

External broker reports(aggregated public sources)

Backed by the UOB Group, UOB Kay Hian is one of Asia’s largest brokerage firms. Headquartered in Singapore, we are supported by more than 80 branches worldwide including a growing network of offices across Southeast Asia, Greater China, the United Kingdom and North America. Our global footprint and strong international presence have enabled us to feel the pulse of key financial markets and deliver incisive intelligence across industry sectors and asset classes. 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.

<ul><li>SingTel reported higher FY23 underlying revenue (+2% y-o-y) and PATMI (+7% y-o-y), driven by NCS, higher data roaming revenue and regional associates.</li><li>Singapore consumer continues to experience ARPU uplift from the ongoing recovery in international travel and ongoing 5G migration.</li><li>Maintain BUY recommendation on SingTel with target price: S$3.15.</li></ul><p><em>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.</em></p>

SingTel reported higher FY23 underlying revenue (+2% y-o-y) and PATMI (+7% y-o-y), driven by NCS, higher data roaming revenue and regional associates.Singapore consumer continues to experience ARPU uplift from the ongoing recovery in international travel and ongoing 5G migration.Maintain BUY recommendation on SingTel with target price: S$3.15.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.

SingTel - Improving Core Business Dragged By Weaker Overseas Contributions In FY23

5 in 5 with Singtel - Empowering Every Generation

Singapore

Singapore Telecommunications Limited wireless telecommunication services. The Company offers diverse range of services including fixed, mobile, data, internet, TV,  and digital solutions. Singapore Telecommunications serves customers worldwide.

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Singtel (ST SP)

Fortress Minerals’ CEO Ivan Chee raises his stake

Share buybacks by primary listed companies 4 - 10 Aug 2023 Institutions were net buyers of Singapore stocks over the four trading sessions through...

Singapore Exchange Ltd (SGX)

Grab Holdings (GRAB IJ) - Winning with Trans-Cab and Deposits in Singapore

Grab recently announced the acquisition of Trans-cab in Singapore, the 3rd largest taxi operator there. This will help to solve driver shortage...

Angus Mackintosh

Far EasTone Placement - Parent Selling, Recent Momentum Has Been Strong

Far Eastone Telecomm (4904 TT)’s (FE) parent aims to raise around US$165m via selling 1.9% of its stake. In this note, we talk about the deal...

Sumeet Singh

SingTel - Improving Core Business Dragged By Weaker Overseas Contributions In FY23

SingTel reported higher FY23 underlying revenue (+2% y-o-y) and PATMI (+7% y-o-y), driven by NCS, higher data roaming revenue and regional associates.

UOB Kay Hian

5 in 5 with Singtel - Empowering Every Generation

5 in 5 with Singtel - Empowering Every Generation

Singapore Exchange Ltd (SGX)

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