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

CapitaLand Ascendas REIT / Equity Bottom-Up

<ul><li>Kuok Khoon Hong and George Yeo boost Wilmar stakes Institutions were net sellers of Singapore stocks in the five trading sessions up to Jun 13, with S$3.6 million of net institutional outflow, as 23 primary-listed companies conducted buybacks with a total consideration of S$88.8 million.</li><li>Stamford Land Corp executive chairman Ow Chio Kiat increased his total interest from 45.86 to 45.88 per cent, acquiring 246,800 shares at S$0.40 a share between Jun 6 and 11.</li></ul>

Kuok Khoon Hong and George Yeo boost Wilmar stakes Institutions were net sellers of Singapore stocks in the five trading sessions up to Jun 13, with S$3.6 million of net institutional outflow, as 23 primary-listed companies conducted buybacks with a total consideration of S$88.8 million.Stamford Land Corp executive chairman Ow Chio Kiat increased his total interest from 45.86 to 45.88 per cent, acquiring 246,800 shares at S$0.40 a share between Jun 6 and 11.

Kuok Khoon Hong and George Yeo boost Wilmar stakes

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

<ul>
<li>We look at Asia, and see where there are interesting trade idea.  While HK/CH see investors’ capitulation, there are some interesting ideas in Singapore</li>
<li>We focus on real estate and look at S-REITs, which just wrap up their 4Q 23 results.  We see divergence in terms of industry fundamentals</li>
<li>Within S-REITs, we like industrial and retail given stronger industry fundamentals and stable asset valuation</li>
</ul>


We look at Asia, and see where there are interesting trade idea.  While HK/CH see investors’ capitulation, there are some interesting ideas in Singapore
We focus on real estate and look at S-REITs, which just wrap up their 4Q 23 results.  We see divergence in terms of industry fundamentals
Within S-REITs, we like industrial and retail given stronger industry fundamentals and stable asset valuation


S-REIT Pair Trade Idea: Long CLAR SP and SHORT Keppel REIT on Industry Fundamentals

Mapletree Industrial Trust / Equity Bottom-Up

<ul><li>Share buybacks by primary-listed companies The five sessions also saw nine primary-listed companies conducted buybacks with a total consideration of S$4.5 million.</li><li>With this transaction, the total proportion of shares bought back under the current mandate now stands at 1.47 per cent of the issued shares (not counting treasury shares) as of the date when the share buyback resolution was passed.</li></ul>

Share buybacks by primary-listed companies The five sessions also saw nine primary-listed companies conducted buybacks with a total consideration of S$4.5 million.With this transaction, the total proportion of shares bought back under the current mandate now stands at 1.47 per cent of the issued shares (not counting treasury shares) as of the date when the share buyback resolution was passed.

Buyback and director filings taper off during pre-earnings period

<ul><li>Coverage of climate-related disclosures by S-Reits vs global real estate sector average for each TCFD pillar The S-Reits industry, as with all other sectors, is experiencing growing pressure from investors, tenants, regulators, and other stakeholders to report key environment, social and governance (ESG) information.</li><li>The study reviewed the coverage and quality of disclosures by S-Reits against global peers and best practices based on the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.</li></ul>

Coverage of climate-related disclosures by S-Reits vs global real estate sector average for each TCFD pillar The S-Reits industry, as with all other sectors, is experiencing growing pressure from investors, tenants, regulators, and other stakeholders to report key environment, social and governance (ESG) information.The study reviewed the coverage and quality of disclosures by S-Reits against global peers and best practices based on the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.

REIT Watch - S-Reits raise their sustainability reporting standards

<ul><li>Top 10 retail net buy Reits in August (S$M) Top 10 institution net sell Reits in August (S$M)  Some of the top net buy sectors by retail investors were diversified Reits (+S$104.8 million), hospitality Reits (+S$40.6 million), and industrial Reits (+S$22.0 million).</li></ul>

Top 10 retail net buy Reits in August (S$M) Top 10 institution net sell Reits in August (S$M)  Some of the top net buy sectors by retail investors were diversified Reits (+S$104.8 million), hospitality Reits (+S$40.6 million), and industrial Reits (+S$22.0 million).

REIT Watch - Retail and institutions net buy industrial and retail S-Reits in August

Singapore

CapitaLand Ascendas REIT is an industrial real estate investment trust. The Trust invests in business and science park properties, integrated development, amenities, and retail (IDAR) properties, high-specifications industrial properties and data centers, light industrial and flatted factories, and logistics and distribution centers.

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CapitaLand Ascendas REIT (CLAR SP)

Kuok Khoon Hong and George Yeo boost Wilmar stakes

Kuok Khoon Hong and George Yeo boost Wilmar stakes Institutions were net sellers of Singapore stocks in the five trading sessions up to Jun 13,...

Singapore Exchange Ltd (SGX)

S-REIT Pair Trade Idea: Long CLAR SP and SHORT Keppel REIT on Industry Fundamentals

S-REITs have wrapped up their Q4 results and we see divergence in industry fundamentals. We like industrial and retail given stronger...

Jacob Cheng

Buyback and director filings taper off during pre-earnings period

Share buybacks by primary-listed companies The five sessions also saw nine primary-listed companies conducted buybacks with a total consideration...

Singapore Exchange Ltd (SGX)

REIT Watch - S-Reits raise their sustainability reporting standards

Coverage of climate-related disclosures by S-Reits vs global real estate sector average for each TCFD pillar The S-Reits industry, as with all...

Singapore Exchange Ltd (SGX)

REIT Watch - Retail and institutions net buy industrial and retail S-Reits in August

Top 10 retail net buy Reits in August (S$M) Top 10 institution net sell Reits in August (S$M) Some of the top net buy sectors by retail investors...

Singapore Exchange Ltd (SGX)

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