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>Of the 200+ Singapore-listed stocks that booked positive total returns in 2023, more than 80 stocks have added gains or maintained their positive total return in 1Q24 (as at 25 March).</li><li>Seven of these 10 stocks maintain a single digit P/E ratio with three of the seven stocks also trading below book value.</li><li>According to the SGX Stock Screener, Beng Kuang Marine maintains the next highest ROE of the 80+ stocks at 43.7%, with a P/E ratio of 4.5x as of 25 March.</li></ul>

Of the 200+ Singapore-listed stocks that booked positive total returns in 2023, more than 80 stocks have added gains or maintained their positive total return in 1Q24 (as at 25 March).Seven of these 10 stocks maintain a single digit P/E ratio with three of the seven stocks also trading below book value.According to the SGX Stock Screener, Beng Kuang Marine maintains the next highest ROE of the 80+ stocks at 43.7%, with a P/E ratio of 4.5x as of 25 March.

80 Singapore Stocks that Added Gains or Maintained Returns in 1Q24

<ul><li>Accrelist chairman Terence Tea increases stake in firm CapitaLand Investment led the consideration tally, buying back 1,072,100 shares at an average price of S$3.00 per share on Jan 10.</li><li>Between Jan 4 and 9, Accrelist executive chairman and managing director Terence Tea acquired 2,365,900 shares at S$0.039 per share.</li></ul>

Accrelist chairman Terence Tea increases stake in firm CapitaLand Investment led the consideration tally, buying back 1,072,100 shares at an average price of S$3.00 per share on Jan 10.Between Jan 4 and 9, Accrelist executive chairman and managing director Terence Tea acquired 2,365,900 shares at S$0.039 per share.

Accrelist chairman Terence Tea increases stake in firm

Yoma Strategic Holdings / Equity Bottom-Up

<ul><li>The top five performers among the 100 most traded stocks in Singapore for the year up to 17 July, were Beng Kuang Marine, Mermaid Maritime, Yoma Strategic, Yangzijiang Shipbuilding and Samudera Shipping.</li><li>Among the broader group of Singapore’s 200 most traded stocks this year, 63 stocks have generated YTD total returns of 10% or higher.</li><li>Among the 63 stocks, the Industrials Sector representing as many as 18 (29%) of the 63 stocks, compared to the sector representing 38 (19%) of the broader group of the 200 most traded stocks.</li></ul>

The top five performers among the 100 most traded stocks in Singapore for the year up to 17 July, were Beng Kuang Marine, Mermaid Maritime, Yoma Strategic, Yangzijiang Shipbuilding and Samudera Shipping.Among the broader group of Singapore’s 200 most traded stocks this year, 63 stocks have generated YTD total returns of 10% or higher.Among the 63 stocks, the Industrials Sector representing as many as 18 (29%) of the 63 stocks, compared to the sector representing 38 (19%) of the broader group of the 200 most traded stocks.

Singapore's Most Actively Traded Stocks with Double-Digit YTD Total Returns

<ul><li>Singapore's manufacturing sector saw a reduced contraction of 0.7% in the first five months of 2024, improving from a 4.3% contraction the previous year.</li><li>The iEdge SG Adv Manufacturing Index has also booked more than S$90 million of net institutional inflow in 2024 (up to 8 July) led by net inflows to YZJ Shipbldg, ST Engineering, Venture, SATS and ThaiBev, while Beng Kuang Marine, Dyna-Mac, Frencken, Global Invacom and Marco Polo Marine saw highest net inflow relative to market cap.</li><li>Leading the net institutional inflow for the 2024 year (up to 8 July) within the iEdge SG Advanced Manufacturing Index, were five STI stocks Yangzijiang Shipbuilding, Singapore Technologies Engineering, Venture Corporation, SATS and Thai Beverage: https://investors.sgx.com/securities/stocks?security=BS6 maintains an ROE of 21% and P/B of 4x, compared its 5-year average P/B of 0.9x.</li></ul>

Singapore's manufacturing sector saw a reduced contraction of 0.7% in the first five months of 2024, improving from a 4.3% contraction the previous year.The iEdge SG Adv Manufacturing Index has also booked more than S$90 million of net institutional inflow in 2024 (up to 8 July) led by net inflows to YZJ Shipbldg, ST Engineering, Venture, SATS and ThaiBev, while Beng Kuang Marine, Dyna-Mac, Frencken, Global Invacom and Marco Polo Marine saw highest net inflow relative to market cap.Leading the net institutional inflow for the 2024 year (up to 8 July) within the iEdge SG Advanced Manufacturing Index, were five STI stocks Yangzijiang Shipbuilding, Singapore Technologies Engineering, Venture Corporation, SATS and Thai Beverage: https://investors.sgx.com/securities/stocks?security=BS6 maintains an ROE of 21% and P/B of 4x, compared its 5-year average P/B of 0.9x.

Market Mechanics: Evaluating Singapore's Manufacturing and Equities

<ul><li>Institutions were net buyers of Singapore stocks over the four trading sessions through to May 2, with S$12.9 million of net institutional inflow, as 17 primary-listed companies conducted buybacks with a total consideration of S$28.4 million.</li><li>Leading the net institutional inflow over the four sessions were DBS, UOB, Seatrium, City Developments, UOL Group, iFast Corporation, Singapore Tech Engineering, Singapore Exchange, Cortina Holdings, CapitaLand Integrated Commercial Trust and Hongkong Land Holdings.</li><li>For the month of April, Singapore stocks booked S$225 million of net institutional inflow, following S$1.15 billion of net institutional outflow in Q1.</li></ul>

Institutions were net buyers of Singapore stocks over the four trading sessions through to May 2, with S$12.9 million of net institutional inflow, as 17 primary-listed companies conducted buybacks with a total consideration of S$28.4 million.Leading the net institutional inflow over the four sessions were DBS, UOB, Seatrium, City Developments, UOL Group, iFast Corporation, Singapore Tech Engineering, Singapore Exchange, Cortina Holdings, CapitaLand Integrated Commercial Trust and Hongkong Land Holdings.For the month of April, Singapore stocks booked S$225 million of net institutional inflow, following S$1.15 billion of net institutional outflow in Q1.

Singapore

Southern Archipelago Ltd is a Singapore-based company with a global portfolio of diversified assets in the minerals and energy resources sector, including coking coal, thermal coal, gold, copper and uranium. The Company is also engaged in transferable securities investments, the provision of sterilisation and polymerisation services, and development of properties for sale and rental.

Union Steel Holdings Limited recycles ferrous and non-ferrous scrap metals, trades steel products, and provides waste collection and management, demolition, steel plate rentals, and car scrapping.

Chasen Holdings Limited operates as a holding company. The Company, through its subsidiaries, offers industrial relocation and warehousing services. The Company engages in the provision of machinery and equipment moving services through projects and maintenance contracts and third party logistics. Chasen Holdings serves manufacturing industries worldwide.

Colex Holdings Limited provides waste management services such as waste disposal and contract cleaning services to commercial, industrial, and residential properties.

Leader Environmental Technologies Ltd. provides environmental protection solutions. The Company researches and develops, designs, manufactures, assembles, installs and provides support services for environmental protection systems, primarily for industrial wastegas and wastewater emissions.

Leader Environmental Technologies (LET SP)

Nippecraft Limited and its subsidiaries design, manufacture, and distribute paper-based diaries, organizers, stationery, and related products.

Abundance International Limited is primarily engaged in the business of commercial printing. The Company prints quality calendars, hard-cover case-bound books, trade and educational books and publications for niche markets like museums, medical journals, limited edition prints and educational prints.

ecoWise Holdings Limited provides waste management services and environmental solutions to maximize use of resources and minimize waste by recycling waste into usable products.  The Company also provides clearance and disposal services for used copper slag and general waste including wooden crates and pallets.

Xpress Holdings Limited is an integrated communication solutions provider.  The Company provides solutions for communication services. Xpress also provides general printing, multimedia and pre-press work, general trading, and other business management services.

Versalink Holdings Ltd. is engaged in the design, manufacture and supply of a wide range of system furniture and the provision of workspace planning and consulting services. The Company also distributes ancillary products such as seating models and work tools that are sourced from third party manufacturers. Versalink services clients world wide.

Baguio Green Group Ltd is an industrial cleaning corporation. The Company provides integrated environmental services, including cleaning services, pest control, landscape services and waste management to buildings, residential premises, and shopping malls.

CSS HOLDINGS, LTD. provides outsourced kitchen services to major hotels. The Company's stewards undertake tasks such as washing dishes and monitoring tableware inventory.  CSS HOLDINGS also provides consulting services in hotel and restaurant management.

PT Multifiling Mitra Indonesia Tbk provides document management solutions. The Company offers all aspects of document management, starting from paper document sorting up to storing the information into the chosen media, such as paper, film, digital/electronic or others.

MITSUMURA PRINTING CO., LTD. provides offset and gravure printing service.  Main customers include Shiseido, Kodansha, and Mitsubishi Electric.  The Company also provides contractual printing for Yomiuri Shinbun newspaper and expands into liquid crystal display (LCD) related business.

Teems, Inc. researches and develops educational furniture. Main products are desk and chair for school students and for lectures,  multi-purpose educational table, and locker, etc.

Escrow Agent Japan Co Ltd. provides escrow services for the real estate industry in Japan.  The Company also provides outsourcing services for financial insititution.

CERESPO CO., LTD. plans and manages a wide range of ceremonies, general events, sports events, and sales promotional events for corporations, local communities, and other organizations.

Globe Industries Corporation manufactures and markets adhesive tapes.  The Company's products include polyvinyl chloride (PVC) tapes and oriented polypropylene (OPP) tapes.

Shanghai Jielong Industry Corporation Limited is an investment holding company.  Through its subsidiaries, the Company provides color printing and packaging services, manufactures metal wires, operates in import and export trading, and develops real estate.

Team, Inc. provides specialized industrial services, including leak repair, hot tapping, emissions control, concrete repair, energy management, and mechanical inspection services. The Company has 40 customer service locations throughout the United States and three subsidiaries in England, Trinidad, and Singapore. The company also manufactures industrial equipment.

Beng Kuang Marine Limited provides corrosion prevention and infrastructure engineering services.  The Group also provides hydro-jet cleaning and tank cleaning services. Beng Kuang Marine trades copper slag and waste management, supplies and distributes hardware equipment and tools to the marine and oil and gas industries.

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Beng Kuang Marine (BKM SP)

80 Singapore Stocks that Added Gains or Maintained Returns in 1Q24

Of the 200+ Singapore-listed stocks that booked positive total returns in 2023, more than 80 stocks have added gains or maintained their positive...

Singapore Exchange Ltd (SGX)

Accrelist chairman Terence Tea increases stake in firm

Accrelist chairman Terence Tea increases stake in firm CapitaLand Investment led the consideration tally, buying back 1,072,100 shares at an...

Singapore Exchange Ltd (SGX)

Singapore's Most Actively Traded Stocks with Double-Digit YTD Total Returns

The top five performers among the 100 most traded stocks in Singapore for the year up to 17 July, were Beng Kuang Marine, Mermaid Maritime, Yoma...

Singapore Exchange Ltd (SGX)

Market Mechanics: Evaluating Singapore's Manufacturing and Equities

Singapore's manufacturing sector saw a reduced contraction of 0.7% in the first five months of 2024, improving from a 4.3% contraction the...

Singapore Exchange Ltd (SGX)

Seatrium initiates buyback programme

Institutions were net buyers of Singapore stocks over the four trading sessions through to May 2, with S$12.9 million of net institutional inflow,...

Singapore Exchange Ltd (SGX)

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