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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Biggest Hotel, Restaurant & Leisure Stocks Extend Average YTD Gain to 20%

Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

Value-focused bottom-up Asian equity research

NVB Asia Pte Ltd

Equity Bottom-Up

<p>On the 26th of July, I attended the AGM of <a href="https://www.smartkarma.com/entities/20224" target="_blank" data-smartkarma-citation="entities:20224:1">Accordia Golf Trust (AGT SP)</a> in Singapore. The meeting lasted exactly one hour.</p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/030/526/original/IMG_1745.JPG?1501119862" class="editor-image img-responsive" data-smartkarma-image-id="30526"></figure><p>The AGM was <strong>attended by about 150 investors</strong> who were given a presentation on the results of the last financial year and an update on the overall Japanese economy. Management believes the employment picture is improving so wages are gradually on the rise. Given the age-profile of Japan (35% of 127 million population is over the age of 60) the CEO believes that demand for golf…</p>

On the 26th of July, I attended the AGM of Accordia Golf Trust (AGT SP) in Singapore. The meeting lasted exactly one hour.The AGM was attended by about 150 investors who were given a presentation on the results of the last financial year and an update on the overall Japanese economy. Management believes the employment picture is improving so wages are gradually on the rise. Given the age-profile of Japan (35% of 127 million population is over the age of 60) the CEO believes that demand for golf…

AGM Accordia Golf Trust (AGT SP): Management Hopeful to Inject Assets in Next 12 Months

Special Situations, Content Strategist, Smartkarma

Crispin Francis

Special Situations, Content Strategist

Smartkarma

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

Research Reinvented

<p>Last night, <a href="https://www.smartkarma.com/entities/20224" target="_blank" data-smartkarma-citation="entities:20224:1">Accordia Golf Trust (AGT SP)</a> release their FY16/17 results. Key headlines are as follows:</p><ul>
<li>Operating Income fell 2.4% Y-o-Y to JPY 51,919m from JPY 53,175m</li>
<li>Profit (after tax) fell 38.3% Y-o-Y to JPY 4,113m from JPY 6,662m</li>
<li>Total Distributable Income fell 14.3% Y-o-Y to JPY 5,178m from JPY 6,041</li>
<li>DPU fell 8.9% Y-o-Y to SGD 6.04 from SGD 6.63</li>
</ul><div class="content-remarks"><p>Link to <a href="http://accordiagolftrust.listedcompany.com/newsroom/20170525_183557_ADQU_RRL9A22VE4KR13RC.2.pdf" target="_blank">Presentation</a>, <a href="http://accordiagolftrust.listedcompany.com/newsroom/20170525_183557_ADQU_RRL9A22VE4KR13RC.1.pdf" target="_blank">Financial results</a></p></div><p>AGT share price reacted negatively, opening at 0.755, down 3.2% from previous close of SGD 0.78. Through the…</p>

Last night, Accordia Golf Trust (AGT SP) release their FY16/17 results. Key headlines are as follows:
Operating Income fell 2.4% Y-o-Y to JPY 51,919m from JPY 53,175m
Profit (after tax) fell 38.3% Y-o-Y to JPY 4,113m from JPY 6,662m
Total Distributable Income fell 14.3% Y-o-Y to JPY 5,178m from JPY 6,041
DPU fell 8.9% Y-o-Y to SGD 6.04 from SGD 6.63
Link to Presentation, Financial resultsAGT share price reacted negatively, opening at 0.755, down 3.2% from previous close of SGD 0.78. Through the…

Accordia Golf Trust - Full Year FY16/17 Results

Japan/Asia Long-Short, LightStream Research

Mio Kato

Japan/Asia Long-Short

Japanese and Asian equity long/short strategies

Uzabase

Specialising in Japanese and Asian equity long/short strategies with a focus on rigorous, but targeted quantitative analysis to temper evaluations of company strategy, potential and vision. At Uzabase, our team of analysts provides coverage of industry dynamics with a local Asian flavour on Speeda, our financial information platform. Going forward we are aiming to channel our focus toward thematic research on emerging industries and company research.

Thematic (Sector/Industry)

<div class="content-highlight"><h2>Japan</h2></div><h2>Are Honda and Nissan's Brands Overrated?</h2><p><a href="https://www.smartkarma.com/profiles/988" target="_blank" data-smartkarma-citation="accounts:988">Noriaki Hirakata, CFA</a> examines perceptions vs. reality in <a href="https://www.smartkarma.com/insights/are-the-japanese-brands-still-competitive-quality-performance" target="_blank" data-smartkarma-citation="insights:9701">Are the Japanese Brands Still Competitive? (Quality Performance)</a>. He notes that Korean and American manufacturers have made significant progress in improving the quality of their vehicles and that a Japan premium may no longer be justified for any brand other than, to an extent, <a href="https://www.smartkarma.com/entities/73" target="_blank" data-smartkarma-citation="entities:73:1">Toyota Motor Corp (7203 JP)</a>.</p><p>Examining the individual stocks of <a href="https://www.smartkarma.com/entities/154" target="_blank" data-smartkarma-citation="entities:154:1">Honda Motor Co Ltd (7267 JP)</a> and <a href="https://www.smartkarma.com/entities/72" target="_blank" data-smartkarma-citation="entities:72:1">Nissan Motor Co Ltd</a>…</p>

JapanAre Honda and Nissan's Brands Overrated?Noriaki Hirakata, CFA examines perceptions vs. reality in Are the Japanese Brands Still Competitive? (Quality Performance). He notes that Korean and American manufacturers have made significant progress in improving the quality of their vehicles and that a Japan premium may no longer be justified for any brand other than, to an extent, Toyota Motor Corp (7203 JP).Examining the individual stocks of Honda Motor Co Ltd (7267 JP) and Nissan Motor Co Ltd…

The Week That Was in NorthAsia@Smartkarma - Japanese Autos, Toshiba, Lineage and Accordia Golf Trust

<p>On 1 April 2017,  I took a flight to Japan from Singapore to join a golf course tour conducted by <a href="https://www.smartkarma.com/entities/20224" target="_blank" data-smartkarma-citation="entities:20224:1">Accordia Golf Trust (AGT SP)</a>. </p><p>During the 2½ day trip, we visited a total of 6 golf courses owned by AGT:</p><ol><li>Tamagawa Country Club,</li><li>Yorii Country Club,</li><li>Myogi Country Club,</li><li>Midono Country Club,</li><li>Chichibu Kokusai Country Club, and</li><li>Sainomori Country Club.</li></ol><p>After each visit, we had a Q&amp;A session with AGT's CEO, Machida-san, and Senior Manager, Brenda Ng. Through the trip, we gained more insights into the operations of AGT.</p><p><em>In this insight, we bring to you the key highlights of the trip... more below the fold.</em></p>

On 1 April 2017,  I took a flight to Japan from Singapore to join a golf course tour conducted by Accordia Golf Trust (AGT SP). During the 2½ day trip, we visited a total of 6 golf courses owned by AGT:Tamagawa Country Club,Yorii Country Club,Myogi Country Club,Midono Country Club,Chichibu Kokusai Country Club, andSainomori Country Club.After each visit, we had a Q&amp;A session with AGT's CEO, Machida-san, and Senior Manager, Brenda Ng. Through the trip, we gained more insights into the operations of AGT.In this insight, we bring to you the key highlights of the trip... more below the fold.

Accordia Golf Trust - On the Ground, Japan Golf Tour

Singapore

Accordia Golf Trust is a business trust comprising of investments in golf course assets in Japan.

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Accordia Golf Trust (AGT SP)

Biggest Hotel, Restaurant & Leisure Stocks Extend Average YTD Gain to 20%

Singapore Exchange Ltd (SGX)

AGM Accordia Golf Trust (AGT SP): Management Hopeful to Inject Assets in Next 12 Months

On the 26th of July, I attended the AGM of Accordia Golf Trust (AGT SP) in Singapore. The meeting lasted exactly one hour.The AGM was attended by...

Nicolas Van Broekhoven

Accordia Golf Trust - Full Year FY16/17 Results

Last night, Accordia Golf Trust (AGT SP) release their FY16/17 results. Key headlines are as follows: Operating Income fell 2.4% Y-o-Y to JPY...

Crispin Francis

The Week That Was in NorthAsia@Smartkarma - Japanese Autos, Toshiba, Lineage and Accordia Golf Trust

JapanAre Honda and Nissan's Brands Overrated?Noriaki Hirakata, CFA examines perceptions vs. reality in Are the Japanese Brands Still Competitive?...

Mio Kato

Accordia Golf Trust - On the Ground, Japan Golf Tour

On 1 April 2017, I took a flight to Japan from Singapore to join a golf course tour conducted by Accordia Golf Trust (AGT SP). During the 2½ day...

Crispin Francis

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