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

CDL Hospitality Trusts / Equity Bottom-Up

<ul><li>REIT Watch - Hospitality S-Reits record 21% DPU growth in FY2023 The five hospitality trusts recorded, on average, 21 per cent yoy growth in FY2023 DPU.</li><li>Four of the trusts – ARA US Hospitality Trust (ARA H-Trust), CapitaLand Ascott Trust (Clas), CDL Hospitality Trusts (CDLHT) and Far East Hospitality Trust (FEHT) – reported full-year FY2023 earnings ending Dec 31, 2023.</li></ul>

REIT Watch - Hospitality S-Reits record 21% DPU growth in FY2023 The five hospitality trusts recorded, on average, 21 per cent yoy growth in FY2023 DPU.Four of the trusts – ARA US Hospitality Trust (ARA H-Trust), CapitaLand Ascott Trust (Clas), CDL Hospitality Trusts (CDLHT) and Far East Hospitality Trust (FEHT) – reported full-year FY2023 earnings ending Dec 31, 2023.

REIT Watch - Hospitality S-Reits record 21% DPU growth in FY2023

<ul><li>Share buybacks by primary listed companies 12 - 18 May 2023 DBS, Genting Singapore, UOB, CapitaLand Investment and Thai Beverage led the net institutional outflow for the five sessions.</li><li>At S$0.044 per share, the acquisition took Lee’s total interest in Marco Polo Marine from 4.56 per cent to 4.57 per cent.</li><li>His preceding acquisition was back on Jan 12, with 5 million shares acquired at S$0.04 per share.</li></ul>

Share buybacks by primary listed companies 12 - 18 May 2023 DBS, Genting Singapore, UOB, CapitaLand Investment and Thai Beverage led the net institutional outflow for the five sessions.At S$0.044 per share, the acquisition took Lee’s total interest in Marco Polo Marine from 4.56 per cent to 4.57 per cent.His preceding acquisition was back on Jan 12, with 5 million shares acquired at S$0.04 per share.

Aztech Global executive chair adds to stake

10 in 10 with ARA US Hospitality Trust - Recovery On Track

ARA US Hospitality Trust / Equity Bottom-Up

<ul><li>Of the 30 S-REITs which have declared full year 2022 distributions, median change in distribution per unit (DPU) increased marginally by 0.2 per cent year-on-year (y-o-y).</li><li>The five trusts with the highest y-o-y DPU increments for FY22 are: ARA US Hospitality Trust (760 per cent), Paragon REIT (34 per cent), CDL Hospitality Trusts (32 per cent), CapitaLand Ascott Trust (31 per cent) and Far East Hospitality Trust (24 per cent).</li><li>CDL Hospitality Trusts (CDLHT) declared a DPS of 5.63 Singapore cents for FY22, up 31.9 per cent y-o-y.</li></ul>

Of the 30 S-REITs which have declared full year 2022 distributions, median change in distribution per unit (DPU) increased marginally by 0.2 per cent year-on-year (y-o-y).The five trusts with the highest y-o-y DPU increments for FY22 are: ARA US Hospitality Trust (760 per cent), Paragon REIT (34 per cent), CDL Hospitality Trusts (32 per cent), CapitaLand Ascott Trust (31 per cent) and Far East Hospitality Trust (24 per cent).CDL Hospitality Trusts (CDLHT) declared a DPS of 5.63 Singapore cents for FY22, up 31.9 per cent y-o-y.

REIT Watch – Hospitality S-REITs’ DPU rebound 32% in 2022

<ul><li>Recent acquisitions made by CapitaLand India Trust and ARA US Hospitality Trust Singapore-listed real estate investment trust (S-Reit) acquisitions continue into 2023 with ARA US Hospitality Trust’s recent proposed acquisition of a Colorado Hilton-branded hotel in the US for US$29 million.</li><li>This was after CapitaLand India Trust (Clint) had announced two more acquisitions and a memorandum of understanding (MOU) in December 2022 to end the year.</li></ul>

Recent acquisitions made by CapitaLand India Trust and ARA US Hospitality Trust Singapore-listed real estate investment trust (S-Reit) acquisitions continue into 2023 with ARA US Hospitality Trust’s recent proposed acquisition of a Colorado Hilton-branded hotel in the US for US$29 million.This was after CapitaLand India Trust (Clint) had announced two more acquisitions and a memorandum of understanding (MOU) in December 2022 to end the year.

REIT Watch - Recent acquisitions made by CapitaLand India Trust and ARA US Hospitality Trust

Singapore

ARA US Hospitality Trust is a Singapore-listed stapled trust. It owns upscale select-service hotels in the US.

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ARA US Hospitality Trust (ARAUS SP)

REIT Watch - Hospitality S-Reits record 21% DPU growth in FY2023

REIT Watch - Hospitality S-Reits record 21% DPU growth in FY2023 The five hospitality trusts recorded, on average, 21 per cent yoy growth in...

Singapore Exchange Ltd (SGX)

Aztech Global executive chair adds to stake

Share buybacks by primary listed companies 12 - 18 May 2023 DBS, Genting Singapore, UOB, CapitaLand Investment and Thai Beverage led the net...

Singapore Exchange Ltd (SGX)

10 in 10 with ARA US Hospitality Trust - Recovery On Track

10 in 10 with ARA US Hospitality Trust - Recovery On Track

Singapore Exchange Ltd (SGX)

REIT Watch – Hospitality S-REITs’ DPU rebound 32% in 2022

Of the 30 S-REITs which have declared full year 2022 distributions, median change in distribution per unit (DPU) increased marginally by 0.2 per...

Singapore Exchange Ltd (SGX)

REIT Watch - Recent acquisitions made by CapitaLand India Trust and ARA US Hospitality Trust

Recent acquisitions made by CapitaLand India Trust and ARA US Hospitality Trust Singapore-listed real estate investment trust (S-Reit)...

Singapore Exchange Ltd (SGX)

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