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>Raffles Medical executive chair continues acquisitions, CDL leads buyback consideration Institutions were net sellers of Singapore stocks over the five trading sessions through to Mar 14, with S$156 million of net institutional outflow, as 24 primary-listed companies conducted buybacks with a total consideration of S$35.3 million, up from the S$24.4 million in buyback consideration for the preceding five sessions.</li>
<li>Between Mar 7 and 13, Raffles Medical Group executive chairman Loo Choon Yong acquired 2.7 million shares at an average price of S$1.02 per share.</li>
</ul>


Raffles Medical executive chair continues acquisitions, CDL leads buyback consideration Institutions were net sellers of Singapore stocks over the five trading sessions through to Mar 14, with S$156 million of net institutional outflow, as 24 primary-listed companies conducted buybacks with a total consideration of S$35.3 million, up from the S$24.4 million in buyback consideration for the preceding five sessions.
Between Mar 7 and 13, Raffles Medical Group executive chairman Loo Choon Yong acquired 2.7 million shares at an average price of S$1.02 per share.


Raffles Medical executive chair continues acquisitions, CDL leads buyback consideration

<ul><li>Director filings and buybacks continue at stronger pace INSTITUTIONS were net sellers of Singapore stocks over the five trading sessions through to Mar 7, with S$224 million of net institutional outflow, as 26 primary-listed companies conducted buybacks with a total consideration of S$24.4 million, quadrupling the buyback consideration of the preceding five sessions.</li><li>This increased his total interest from 53.27 per cent to 53.61 per cent.</li><li>This followed his acquisition of 4.5 million shares between Feb 27 and 28.</li></ul>

Director filings and buybacks continue at stronger pace INSTITUTIONS were net sellers of Singapore stocks over the five trading sessions through to Mar 7, with S$224 million of net institutional outflow, as 26 primary-listed companies conducted buybacks with a total consideration of S$24.4 million, quadrupling the buyback consideration of the preceding five sessions.This increased his total interest from 53.27 per cent to 53.61 per cent.This followed his acquisition of 4.5 million shares between Feb 27 and 28.

Director Filings & Buybacks Continue Stronger Pace

<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

<ul><li>The first six weeks of 3Q22 has seen the technology sector lead the global stock market, after ranking as the laggard sector in both 1Q22 and 2Q22.</li><li>Global technology stocks, in addition to e-commerce retailers make up approximately 25% of the FTSE Developed Index, with the slump in these industries in 1Q22 and 2Q22 driving the decline of the broader Developed economy benchmark through the end of June.</li><li>Together the seven stocks averaged 9% total returns over the six weeks, reducing their average decline in total return to 12%.</li></ul>

The first six weeks of 3Q22 has seen the technology sector lead the global stock market, after ranking as the laggard sector in both 1Q22 and 2Q22.Global technology stocks, in addition to e-commerce retailers make up approximately 25% of the FTSE Developed Index, with the slump in these industries in 1Q22 and 2Q22 driving the decline of the broader Developed economy benchmark through the end of June.Together the seven stocks averaged 9% total returns over the six weeks, reducing their average decline in total return to 12%.

Tech Sector Leads Global Stocks in 3Q22-to-date, AEM Beats & Raises

<figure class="editor-figure mceNonEditable"><img src="https://api2.sgx.com/sites/default/files/2021-10/Aztech-COO.jpg" class="editor-image img-responsive"></figure>
<div class="content-caption">Aztech COO</div>

For Jeremy Mun, an electronics industry veteran of over two decades, building a culture of inclusion, acceptance and support among employees in his organisation has always been the bedrock of his management philosophy. “The one important value I caught from my father is treating employees as part of the family,” said the Executive Director and Chief Operating Officer of SGX-listed technology group Aztech Global Ltd. His father, Michael Mun, is Aztech Global’s Executive Chairman and Chief Executive Officer. Putting this philosophy into practice, Mun believes in the principle of empowerment - building accountability and trust by giving employees a degree of autonomy and responsibility in their daily decision-making. “This helps cultivate a sense of ownership and pride in their achievements. In short, I want everyone to experience a colourful and enriching career journey with the Aztech family,” he added. Mun, who graduated with a Bachelor of Science in Management degree from the University of London in 2000, has been with the Aztech Group since 2002. Before he was appointed to the Board and his current role in 2017, Mun was involved in product development and sales of the Group’s LED lighting business. He was stationed in the Group’s Hong Kong and China offices for more than 10 years to oversee the operations in China. “Watching first-hand how the company has transformed and evolved over all these years has been my highest privilege. The most exciting part is often witnessing the development of new products, and their increasing adoption and acceptance, leading to the creation of new markets,” he recalled. “Being an early adopter of technology myself, I am thrilled whenever presented with new manufacturing technologies that we can leverage to unlock new growth opportunities and propel the Group forward.” Aztech Global is the technology arm of Singapore-based conglomerate Aztech Group, which was established in 1986 and delisted from SGX in 2017. In March this year, Aztech Global made its debut on SGX Mainboard. The Group is a key technology enabler for the connected world of tomorrow, with a focus on providing one-stop design and manufacturing services. Supported by its core strengths in research and development (R&amp;D), design, engineering and manufacturing, its key products are Internet of Things (IoT) devices, data communication products and LED lighting products.&nbsp; Leveraging on its expertise, it also provides one-stop design and manufacturing services to clients that include blue-chip customers and technology start-ups.&nbsp; Aztech Global has four R&amp;D centres in Singapore, Hong Kong and China, as well as three manufacturing facilities in Dongguan, China, and Johor, Malaysia. To-date, the Group has close to 3,000 employees worldwide. Transformation Journey “Our Mainboard listing in March is just the beginning of our transformed growth story,” Mun pointed out. “Reimagining possibilities in the growing IoT and data communications space, as well as smart LED lighting where our core strengths lie, are focus areas that will take the Group to the next stage of growth.” In particular, the Group’s Original Design Manufacturing (ODM) and Joint Development Manufacturing (JDM) businesses are expanding its smart devices for home and office applications, while its R&amp;D division has embarked on collaborative efforts with customers to tap on growth opportunities offered by the proliferation of IoT in the healthtech industry.&nbsp; With the global shortage of components unlikely to abate in the foreseeable future, Aztech Global continues to work closely with its customers, suppliers, and relevant stakeholders to ensure smooth production and timely delivery of orders.&nbsp; According to Frost &amp; Sullivan, the IoT industry is expected to continue expanding at a compound annual growth rate (CAGR) of 20.8% to reach US$425.2 billion by 2023 from 2019, while the data communication industry is forecast to grow at a CAGR of 5.9% from 2019 to US$59.0 billion in 2023. Another important step in the Group’s future development is harnessing the power of data analytics, Mun added.&nbsp; “I’m looking to automate the data collection process for the Group to achieve optimal decision-making prowess. With greater demand from customers for transparent and live information on their order processes, we're working with them to develop the platform that will allow for greater synergies and collaboration.” Despite the disruptions and turbulence created by COVID-19, the pandemic has taught the Group a number of invaluable lessons. “COVID-19 has shown us that we need to be always prepared for the worst-case scenario - it’s crucial to have procedures and policies in place even before a crisis strikes,” Mun noted. “The pandemic is also one example where our empowered staff members are being put to the test to run operations independently.” Talent Challenge Nonetheless, the fluidity of the situation remains a concern for Mun.&nbsp;“With the new COVID-19 variants transmitting more quickly, my concern remains for our staff. We have put in place safety measures to protect them, and will continue our best to do so,” he said. Other challenges that the Group grapples with include talent acquisition and retention. “Talent is always an issue in any fast-moving industry,” Mun acknowledged.&nbsp; “Engineering skillsets are in high demand, not only in the electronics industry, but also in other sectors such as fintech. Creating the right environment for our staff to grow and contribute, as well as remodelling our HR practices, are some ways to recruit and retain key personnel.” At the same time, Aztech Global remains focused on fine-tuning its Environmental, Social and Governance (ESG) strategy. “ESG is one area we’re constantly working on. Right now, we are producing our first sustainability report. With the data collected, we’ll be able to set objectives with a view to achieving lower or carbon neutral targets and quality employment for our members in the Aztech family,” Mun said. “As we are working with some of the biggest companies in the world, we do have policies and audits in place to ensure compliance with international standards.” While work can be all-consuming for this 45-year-old, there’s never a dull moment. “What gets me going every day is the vision of a successful launch of our customer’s product - one that has been designed and manufactured by Aztech,” he said with a smile. Nurturing the values of trust and integrity among employees and clients is also another priority. “These values are the cornerstone to building long and lasting relationships with colleagues and customers,” Mun added. “I always tell my staff that there’s no right or wrong decision. I encourage them to make and take ownership of their decisions, so that together, we learn from our experiences to grow and do better each time.” Aztech Global Ltd Aztech Global is a key technology enabler for the connected world of tomorrow, with a focus on providing one-stop design and manufacturing services. Supported by its core strengths in R&amp;D, design, engineering and manufacturing, its key products are IoT devices, data-communication products and LED lighting products. Leveraging on this expertise, the Group also provides one-stop design and manufacturing services to blue-chip customers and technology start-ups. Headquartered in Singapore, the Group has four R&amp;D centres in Singapore, Hong Kong and China, namely in Shenzhen and Dongguan, and three manufacturing facilities in Dongguan, China and Johor, Malaysia. To-date, the Group has close to 3,000 employees worldwide.
The company website is: <a href="http://www.aztechglobal.com/" target="_blank" rel="noopener">www.aztechglobal.com</a> Click&nbsp;<a href="https://www.sgx.com/securities/equities/8AZ" target="_blank" rel="noopener">here&nbsp;</a>for the company's StockFacts page. For the three months ended 30 June 2021 financial results, click&nbsp;<a href="https://links.sgx.com/1.0.0/corporate-announcements/T2X3HF5DM3U3I0KP/676663_1H%202021%20Results%20Press%20Release.pdf" target="_blank" rel="noopener">here</a>. &nbsp;
About&nbsp;kopi-C: the Company brew
Text: Jennifer Tan-Stanisic Photo: Company file kopi-C&nbsp;is a regular column on the SGX Research website that features C-level executives of leading companies listed on Singapore Exchange. These interviews are profiles of senior management aimed at helping investors better understand the individuals who run these corporations. For previous editions of&nbsp;kopi-C: the Company brew,&nbsp;please click&nbsp;<a href="https://www.sgx.com/research-education/market-dialogues" target="_blank" rel="noopener">here</a>. &nbsp; For more information, or if you would like your senior executives to be featured on SGX Market Dialogues, please send suggestions to&nbsp;<a href="https://www.sgx.com/jennifer.t@sgx.com" target="_blank" rel="noopener">jennifer.t@sgx.com</a>.


Aztech COO

For Jeremy Mun, an electronics industry veteran of over two decades, building a culture of inclusion, acceptance and support among employees in his organisation has always been the bedrock of his management philosophy.  “The one important value I caught from my father is treating employees as part of the family,” said the Executive Director and Chief Operating Officer of SGX-listed technology group Aztech Global Ltd. His father, Michael Mun, is Aztech Global’s Executive Chairman and Chief Executive Officer.  Putting this philosophy into practice, Mun believes in the principle of empowerment - building accountability and trust by giving employees a degree of autonomy and responsibility in their daily decision-making.  “This helps cultivate a sense of ownership and pride in their achievements. In short, I want everyone to experience a colourful and enriching career journey with the Aztech family,” he added.  Mun, who graduated with a Bachelor of Science in Management degree from the University of London in 2000, has been with the Aztech Group since 2002. Before he was appointed to the Board and his current role in 2017, Mun was involved in product development and sales of the Group’s LED lighting business. He was stationed in the Group’s Hong Kong and China offices for more than 10 years to oversee the operations in China.  “Watching first-hand how the company has transformed and evolved over all these years has been my highest privilege. The most exciting part is often witnessing the development of new products, and their increasing adoption and acceptance, leading to the creation of new markets,” he recalled.  “Being an early adopter of technology myself, I am thrilled whenever presented with new manufacturing technologies that we can leverage to unlock new growth opportunities and propel the Group forward.”  Aztech Global is the technology arm of Singapore-based conglomerate Aztech Group, which was established in 1986 and delisted from SGX in 2017. In March this year, Aztech Global made its debut on SGX Mainboard.  The Group is a key technology enabler for the connected world of tomorrow, with a focus on providing one-stop design and manufacturing services. Supported by its core strengths in research and development (R&amp;D), design, engineering and manufacturing, its key products are Internet of Things (IoT) devices, data communication products and LED lighting products.&nbsp;  Leveraging on its expertise, it also provides one-stop design and manufacturing services to clients that include blue-chip customers and technology start-ups.&nbsp;  Aztech Global has four R&amp;D centres in Singapore, Hong Kong and China, as well as three manufacturing facilities in Dongguan, China, and Johor, Malaysia. To-date, the Group has close to 3,000 employees worldwide.  Transformation Journey  “Our Mainboard listing in March is just the beginning of our transformed growth story,” Mun pointed out.  “Reimagining possibilities in the growing IoT and data communications space, as well as smart LED lighting where our core strengths lie, are focus areas that will take the Group to the next stage of growth.”  In particular, the Group’s Original Design Manufacturing (ODM) and Joint Development Manufacturing (JDM) businesses are expanding its smart devices for home and office applications, while its R&amp;D division has embarked on collaborative efforts with customers to tap on growth opportunities offered by the proliferation of IoT in the healthtech industry.&nbsp;  With the global shortage of components unlikely to abate in the foreseeable future, Aztech Global continues to work closely with its customers, suppliers, and relevant stakeholders to ensure smooth production and timely delivery of orders.&nbsp;  According to Frost &amp; Sullivan, the IoT industry is expected to continue expanding at a compound annual growth rate (CAGR) of 20.8% to reach US$425.2 billion by 2023 from 2019, while the data communication industry is forecast to grow at a CAGR of 5.9% from 2019 to US$59.0 billion in 2023.  Another important step in the Group’s future development is harnessing the power of data analytics, Mun added.&nbsp;  “I’m looking to automate the data collection process for the Group to achieve optimal decision-making prowess. With greater demand from customers for transparent and live information on their order processes, we're working with them to develop the platform that will allow for greater synergies and collaboration.”  Despite the disruptions and turbulence created by COVID-19, the pandemic has taught the Group a number of invaluable lessons.  “COVID-19 has shown us that we need to be always prepared for the worst-case scenario - it’s crucial to have procedures and policies in place even before a crisis strikes,” Mun noted.  “The pandemic is also one example where our empowered staff members are being put to the test to run operations independently.”  Talent Challenge  Nonetheless, the fluidity of the situation remains a concern for Mun.&nbsp;“With the new COVID-19 variants transmitting more quickly, my concern remains for our staff. We have put in place safety measures to protect them, and will continue our best to do so,” he said.  Other challenges that the Group grapples with include talent acquisition and retention. “Talent is always an issue in any fast-moving industry,” Mun acknowledged.&nbsp;  “Engineering skillsets are in high demand, not only in the electronics industry, but also in other sectors such as fintech. Creating the right environment for our staff to grow and contribute, as well as remodelling our HR practices, are some ways to recruit and retain key personnel.”  At the same time, Aztech Global remains focused on fine-tuning its Environmental, Social and Governance (ESG) strategy.  “ESG is one area we’re constantly working on. Right now, we are producing our first sustainability report. With the data collected, we’ll be able to set objectives with a view to achieving lower or carbon neutral targets and quality employment for our members in the Aztech family,” Mun said.  “As we are working with some of the biggest companies in the world, we do have policies and audits in place to ensure compliance with international standards.”  While work can be all-consuming for this 45-year-old, there’s never a dull moment. “What gets me going every day is the vision of a successful launch of our customer’s product - one that has been designed and manufactured by Aztech,” he said with a smile.  Nurturing the values of trust and integrity among employees and clients is also another priority. “These values are the cornerstone to building long and lasting relationships with colleagues and customers,” Mun added.  “I always tell my staff that there’s no right or wrong decision. I encourage them to make and take ownership of their decisions, so that together, we learn from our experiences to grow and do better each time.”  Aztech Global Ltd  Aztech Global is a key technology enabler for the connected world of tomorrow, with a focus on providing one-stop design and manufacturing services. Supported by its core strengths in R&amp;D, design, engineering and manufacturing, its key products are IoT devices, data-communication products and LED lighting products. Leveraging on this expertise, the Group also provides one-stop design and manufacturing services to blue-chip customers and technology start-ups. Headquartered in Singapore, the Group has four R&amp;D centres in Singapore, Hong Kong and China, namely in Shenzhen and Dongguan, and three manufacturing facilities in Dongguan, China and Johor, Malaysia. To-date, the Group has close to 3,000 employees worldwide.
The company website is: www.aztechglobal.com  Click&nbsp;here&nbsp;for the company's StockFacts page.  For the three months ended 30 June 2021 financial results, click&nbsp;here.  &nbsp;
About&nbsp;kopi-C: the Company brew
Text: Jennifer Tan-Stanisic Photo: Company file  kopi-C&nbsp;is a regular column on the SGX Research website that features C-level executives of leading companies listed on Singapore Exchange. These interviews are profiles of senior management aimed at helping investors better understand the individuals who run these corporations.  For previous editions of&nbsp;kopi-C: the Company brew,&nbsp;please click&nbsp;here. &nbsp;  For more information, or if you would like your senior executives to be featured on SGX Market Dialogues, please send suggestions to&nbsp;jennifer.t@sgx.com.

Aztech Global: Enabling Technologies for a Connected Future

Singapore

Aztech Global Ltd. is a key technology enabler for the connected world of tomorrow, with a focus on providing one-stop design and manufacturing services. Supported by core strengths in R&D, design, engineering and manufacturing, our key products are IoT Devices, Data-communication products and LED lighting products.

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Aztech Global (AZTECH SP)

Raffles Medical executive chair continues acquisitions, CDL leads buyback consideration

Raffles Medical executive chair continues acquisitions, CDL leads buyback consideration Institutions were net sellers of Singapore stocks over the...

Singapore Exchange Ltd (SGX)

Director Filings & Buybacks Continue Stronger Pace

Director filings and buybacks continue at stronger pace INSTITUTIONS were net sellers of Singapore stocks over the five trading sessions through...

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)

Tech Sector Leads Global Stocks in 3Q22-to-date, AEM Beats & Raises

The first six weeks of 3Q22 has seen the technology sector lead the global stock market, after ranking as the laggard sector in both 1Q22 and...

Singapore Exchange Ltd (SGX)

Aztech Global: Enabling Technologies for a Connected Future

For Jeremy Mun, an electronics industry veteran of over two decades, building a culture of inclusion, acceptance and support among employees in...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)