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>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

Mapletree Pan Asia Commercial Trust / Equity Bottom-Up

<ul><li>Singapore-based office S-Reits resilient despite concerns sparked by WeWork However, Singapore-listed real estate investment trusts (S-Reits) are showing signs of resiliency in their office portfolios.</li><li>Suntec Reit’s Singapore office portfolio recorded year-on-year growth in both gross revenue and net property income for H1 FY2023 by 8.1 per cent and 1.1 per cent respectively, citing higher occupancy and rent at its Suntec City Office and One Raffles Quay.</li></ul>

Singapore-based office S-Reits resilient despite concerns sparked by WeWork However, Singapore-listed real estate investment trusts (S-Reits) are showing signs of resiliency in their office portfolios.Suntec Reit’s Singapore office portfolio recorded year-on-year growth in both gross revenue and net property income for H1 FY2023 by 8.1 per cent and 1.1 per cent respectively, citing higher occupancy and rent at its Suntec City Office and One Raffles Quay.

REIT Watch - Singapore-based office S-Reits resilient despite concerns sparked by WeWork

Capitaland Integrated Commercial Trust / Equity Bottom-Up

<ul><li>10 largest weights of the iEdge S-Reit Index THE FTSE EPRA Nareit Developed Index is designed to track the performance of listed real estate companies and real estate investment trusts (Reits) worldwide.</li><li>The 10 largest weights of the iEdge S-Reit Index make up close to 70 per cent of the index weights.</li></ul>

10 largest weights of the iEdge S-Reit Index THE FTSE EPRA Nareit Developed Index is designed to track the performance of listed real estate companies and real estate investment trusts (Reits) worldwide.The 10 largest weights of the iEdge S-Reit Index make up close to 70 per cent of the index weights.

REIT Watch - iEdge S-Reit Index vies for portfolio positioning

<ul><li>In terms of net fund flows over the month, retail investors net bought S$8.2 million of S-Reits while institutional investors net sold S$86.4 million in the sector.</li><li>However, there were 10 S-Reits and property trusts which recorded net institutional inflows in the month of July.</li><li>They were Keppel DC Reit, CapitaLand Integrated Commercial Trust (CICT), CapitaLand India Trust (Clint), ESR-Logos Reit, Far East Hospitality Trust, Digital Core Reit, Paragon Reit, Sasseur Reit, First Reit, and BHG Retail Reit.</li></ul>

In terms of net fund flows over the month, retail investors net bought S$8.2 million of S-Reits while institutional investors net sold S$86.4 million in the sector.However, there were 10 S-Reits and property trusts which recorded net institutional inflows in the month of July.They were Keppel DC Reit, CapitaLand Integrated Commercial Trust (CICT), CapitaLand India Trust (Clint), ESR-Logos Reit, Far East Hospitality Trust, Digital Core Reit, Paragon Reit, Sasseur Reit, First Reit, and BHG Retail Reit.

REIT Watch - Institutional investors net buyers of these 10 S-Reits in July

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Mapletree Industrial Trust / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mapletree-industrial-trust" target="_blank" data-smartkarma-citation="entities:40:1" rel="noopener">Mapletree Industrial Trust (MINT SP)</a> is looking to raise at least S$202m (US$150m) in its primary placement.</li>
<li>The proceeds will be used to partially fund its acquisition of a data centre asset in downtown Osaka, Japan, while the remainder will be funded by debt.</li>
<li>In this note, we'll run the deal through our ECM framework and comment on deal dynamics.</li>
</ul>



Mapletree Industrial Trust (MINT SP) is looking to raise at least S$202m (US$150m) in its primary placement.
The proceeds will be used to partially fund its acquisition of a data centre asset in downtown Osaka, Japan, while the remainder will be funded by debt.
In this note, we'll run the deal through our ECM framework and comment on deal dynamics.


Mapletree Industrial Trust Placement - Data Centre Exposure Still on the Rise

Singapore

Capitaland Integrated Commercial Trust operates as a retail estate investment trust. The Compnay invests in retail and office properties and integrated developments. Capitaland Integrated Commercial Trust serves clients in Asia Pacific.

Capitaland Integrated Commercial Trust (CICT SP)

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Capitaland Integrated Commercial Trust (CICT SP)

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 - Singapore-based office S-Reits resilient despite concerns sparked by WeWork

Singapore-based office S-Reits resilient despite concerns sparked by WeWork However, Singapore-listed real estate investment trusts (S-Reits) are...

Singapore Exchange Ltd (SGX)

REIT Watch - iEdge S-Reit Index vies for portfolio positioning

10 largest weights of the iEdge S-Reit Index THE FTSE EPRA Nareit Developed Index is designed to track the performance of listed real estate...

Singapore Exchange Ltd (SGX)

REIT Watch - Institutional investors net buyers of these 10 S-Reits in July

In terms of net fund flows over the month, retail investors net bought S$8.2 million of S-Reits while institutional investors net sold S$86.4...

Singapore Exchange Ltd (SGX)

Mapletree Industrial Trust Placement - Data Centre Exposure Still on the Rise

Mapletree Industrial Trust (MINT SP) is looking to raise at least S$202m (US$150m) in its primary placement. In this note, we'll run the deal...

Ethan Aw

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)