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.

Thematic (Sector/Industry)

<ul>
<li>In the 2016 calendar year, more than 100 companies were involved in share buybacks, with the buyback considerations amounting to S$826 million. <a href="https://www.smartkarma.com/entities/74" target="_blank" data-smartkarma-citation="entities:74">Singapore Airlines Ltd (SIA SP)</a>, <a href="https://www.smartkarma.com/entities/114" target="_blank" data-smartkarma-citation="entities:114">Oversea Chinese Banking Corp. Limited (OCBC SP)</a>, <a href="https://www.smartkarma.com/entities/2894" target="_blank" data-smartkarma-citation="entities:2894">Global Logistic Properties Ltd (GLP SP)</a>, <a href="https://www.smartkarma.com/entities/765" target="_blank" data-smartkarma-citation="entities:765">Olam International Ltd (OLAM SP)</a> and <a href="https://www.smartkarma.com/entities/22" target="_blank" data-smartkarma-citation="entities:22">DBS Group Holdings Ltd (DBS SP)</a> ranked highest in terms of buyback consideration value over the calendar year.</li>
<li>More recently, for the month of December 2016, there were a total of 13,915,200 shares…</li>
</ul>


In the 2016 calendar year, more than 100 companies were involved in share buybacks, with the buyback considerations amounting to S$826 million. Singapore Airlines Ltd (SIA SP), Oversea Chinese Banking Corp. Limited (OCBC SP), Global Logistic Properties Ltd (GLP SP), Olam International Ltd (OLAM SP) and DBS Group Holdings Ltd (DBS SP) ranked highest in terms of buyback consideration value over the calendar year.
More recently, for the month of December 2016, there were a total of 13,915,200 shares…


Over 100 Firms Conducted Share Buybacks Totaling S$826M in 2016

Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Equity Bottom-Up

According to Prof Savitri Ungsangchai of the Alcohol Research Insitute, Thai alcohol consumption is down 29% during the first 30 days of mourning, even though there are actually no laws against it. Some 46% of respondents said they abstain from alcohol entirely during this period, and her calculations show this cuts expenses by 66% yo. Now, this may sound like good news for religious groups or people who don't like booze and the social problems they bring, but it's certainly not good news for…

According to Prof Savitri Ungsangchai of the Alcohol Research Insitute, Thai alcohol consumption is down 29% during the first 30 days of mourning, even though there are actually no laws against it. Some 46% of respondents said they abstain from alcohol entirely during this period, and her calculations show this cuts expenses by 66% yo. Now, this may sound like good news for religious groups or people who don't like booze and the social problems they bring, but it's certainly not good news for…

Event-Driven

In this review, we explore existing major deals of 2016 and potential deals in the future as well as highlight the nation-shocking scandal around Nation, one of Thailand's largest English daily. Amongst the major deals of Thailand in 2016, the largest by far was BJC's 3bn euro acquisition of Big C, the second largest hypermarket, while we personally made the most of was the unconfirmed JTS deal.Going forward, we see: 1) the Triple T Banks (TISCO, TCAP, TMB) potentially being involved in some form of international divestment by foreign partners (Deutsche, Nova Scotia, ING); 2) the possibility of CP Group trying to buy Tesco's Thai operations, which were actually founded by CP pre-crisis; and 3) a 50-50 chance on the KKP deal with Temasek. If you are someone who believes in making money from M&amp;A, the mosaic principle, and Thai markets, this is the review for you. And to all investment bankers who have their cups in the Thai punch bowl, all I'm gonna say is....Congrats!

In this review, we explore existing major deals of 2016 and potential deals in the future as well as highlight the nation-shocking scandal around Nation, one of Thailand's largest English daily. Amongst the major deals of Thailand in 2016, the largest by far was BJC's 3bn euro acquisition of Big C, the second largest hypermarket, while we personally made the most of was the unconfirmed JTS deal.Going forward, we see: 1) the Triple T Banks (TISCO, TCAP, TMB) potentially being involved in some form of international divestment by foreign partners (Deutsche, Nova Scotia, ING); 2) the possibility of CP Group trying to buy Tesco's Thai operations, which were actually founded by CP pre-crisis; and 3) a 50-50 chance on the KKP deal with Temasek. If you are someone who believes in making money from M&amp;A, the mosaic principle, and Thai markets, this is the review for you. And to all investment bankers who have their cups in the Thai punch bowl, all I'm gonna say is....Congrats!

November & Beyond (Part 2): Party Time for the Deal Makers

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

His Majesty King Bhumibol Adulyadej (Rama IX) passed away at Siriraj Hospital in Bangkok yesterday, 13 October 2016, at 3.52pm. Our condolences to all our Thai friends in your time of grief.Thailand is sailing into unchartered waters, considering that nearly everyone alive has only known one King and that his fiat power was immense, built up over years of devotion to the country.We expect that the Thai stock market will be hurt in the near term, but will eventually stabilize.

His Majesty King Bhumibol Adulyadej (Rama IX) passed away at Siriraj Hospital in Bangkok yesterday, 13 October 2016, at 3.52pm. Our condolences to all our Thai friends in your time of grief.Thailand is sailing into unchartered waters, considering that nearly everyone alive has only known one King and that his fiat power was immense, built up over years of devotion to the country.We expect that the Thai stock market will be hurt in the near term, but will eventually stabilize.

Thailand Mourns Fallen King, Healing Will Take Some Time

Today, Charoen Sirivadhanabhakdi presides over an empire with almost complete domination of Thai liquor business and is a strong number 2 in beer, hypermarkets, potato chips, and tissue. On top of that, he has huge properties in Singapore and Thailand. Not bad for a fourth-grader who used to collect bottle caps! Within the Group, we like Thai Beverage and Berli Jucker, his two flagships in Thailand. In this review, we also discuss the recent rumors around his future M&amp;A (Ticon) and a interesting deal unrelated to his group (KKP) that surfaced around the same time and what you should do about it. His TCC Group is incredibly diversified. His story is legend. Enjoy!

Today, Charoen Sirivadhanabhakdi presides over an empire with almost complete domination of Thai liquor business and is a strong number 2 in beer, hypermarkets, potato chips, and tissue. On top of that, he has huge properties in Singapore and Thailand. Not bad for a fourth-grader who used to collect bottle caps! Within the Group, we like Thai Beverage and Berli Jucker, his two flagships in Thailand. In this review, we also discuss the recent rumors around his future M&amp;A (Ticon) and a interesting deal unrelated to his group (KKP) that surfaced around the same time and what you should do about it. His TCC Group is incredibly diversified. His story is legend. Enjoy!

Thai-Coons (Episode 2): Bottle Cap Boy Turned Beer Baron

Thailand

Berli Jucker PCL is a large Thai conglomerate whose business spans various industries. The Company's operations include the distribution and manufacturing of its own products plus contract distribution and manufacturing for other firms. BJC's core lines of business are packaging, consumer, healthcare, technical and other businesses.

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Berli Jucker (BJC TB)

Booze Bust: What's Charoen Gotta Do Yo?

According to Prof Savitri Ungsangchai of the Alcohol Research Insitute, Thai alcohol consumption is down 29% during the first 30 days of mourning,...

Athaporn Arayasantiparb, CFA

November & Beyond (Part 2): Party Time for the Deal Makers

In this review, we explore existing major deals of 2016 and potential deals in the future as well as highlight the nation-shocking scandal around...

Athaporn Arayasantiparb, CFA

Thailand Mourns Fallen King, Healing Will Take Some Time

His Majesty King Bhumibol Adulyadej (Rama IX) passed away at Siriraj Hospital in Bangkok yesterday, 13 October 2016, at 3.52pm. Our condolences to...

A. Stotz Investment Research

Thai-Coons (Episode 2): Bottle Cap Boy Turned Beer Baron

Today, Charoen Sirivadhanabhakdi presides over an empire with almost complete domination of Thai liquor business and is a strong number 2 in beer,...

Athaporn Arayasantiparb, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Over 100 Firms Conducted Share Buybacks Totaling S$826M in 2016

In the 2016 calendar year, more than 100 companies were involved in share buybacks, with the buyback considerations amounting to S$826 million....

Singapore Exchange Ltd (SGX)

Booze Bust: What's Charoen Gotta Do Yo?

According to Prof Savitri Ungsangchai of the Alcohol Research Insitute, Thai alcohol consumption is down 29% during the first 30 days of mourning,...

Athaporn Arayasantiparb, CFA

November & Beyond (Part 2): Party Time for the Deal Makers

In this review, we explore existing major deals of 2016 and potential deals in the future as well as highlight the nation-shocking scandal around...

Athaporn Arayasantiparb, CFA

Thailand Mourns Fallen King, Healing Will Take Some Time

His Majesty King Bhumibol Adulyadej (Rama IX) passed away at Siriraj Hospital in Bangkok yesterday, 13 October 2016, at 3.52pm. Our condolences to...

A. Stotz Investment Research

Thai-Coons (Episode 2): Bottle Cap Boy Turned Beer Baron

Today, Charoen Sirivadhanabhakdi presides over an empire with almost complete domination of Thai liquor business and is a strong number 2 in beer,...

Athaporn Arayasantiparb, CFA