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.

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SGX’s 20 Biggest China-Related Enterprises Returned 39.8% in YTD

20 Largest China Plays Returned 27% in the YTD

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/11" target="_blank" data-smartkarma-citation="entities:11:1">Sembcorp Marine Ltd (SMM SP)</a> reported disappointing results yesterday. It is significantly below what the street was expecting. In this insight, I interpret the numbers and give updates to recent drilling rig market conditions. 1Q17 headline revenue/net profit is lowered by 17.2%/28% YoY. However, excluding one-off gains from the sale of <a href="https://www.smartkarma.com/entities/671" target="_blank" data-smartkarma-citation="entities:671:1">COSCO Corp Singapore Ltd (COS SP)</a>, SMM would have reported a net loss of S$7.3m. 1Q revenue accounted for 25% of full-year consensus revenue estimates. The…

Sembcorp Marine Ltd (SMM SP) reported disappointing results yesterday. It is significantly below what the street was expecting. In this insight, I interpret the numbers and give updates to recent drilling rig market conditions. 1Q17 headline revenue/net profit is lowered by 17.2%/28% YoY. However, excluding one-off gains from the sale of COSCO Corp Singapore Ltd (COS SP), SMM would have reported a net loss of S$7.3m. 1Q revenue accounted for 25% of full-year consensus revenue estimates. The…

SMM 1Q17: Sank to A Loss, Yet to See Lights at the End of the Tunnel

Asia Ex-J Consumer/ Transport analyst

Valerie Law, CFA

Thematic (Sector/Industry)

There were a couple of news items this week that convinced me that the Singapore government will not protect traditional businesses or practices, from disruption. Even the Singapore government has started to shift its career-advancement practices (<a href="http://www.straitstimes.com/singapore/civil-servants-no-longer-grouped-by-education-level" target="_blank">civil servants no longer grouped by educational level</a>) and the channels it propagates messages. 1. First, a headline that can't be missed:  On Wednesday (22 February), the Business Times headline screams: Signal goes out to struggling firms: Buck up -…

There were a couple of news items this week that convinced me that the Singapore government will not protect traditional businesses or practices, from disruption. Even the Singapore government has started to shift its career-advancement practices (civil servants no longer grouped by educational level) and the channels it propagates messages. 1. First, a headline that can't be missed:  On Wednesday (22 February), the Business Times headline screams: Signal goes out to struggling firms: Buck up -…

Singapore: Traditional Firms Must Disrupt Themselves or The Market Will Do It

Extending my point about more demanding transportation frameworks going forward (see <a href="https://www.smartkarma.com/insights/comfortdelgro-fy16-results-an-era-where-competition-hits-a-higher-gear" target="_blank" data-smartkarma-citation="insights:8719">ComfortDelGro FY16 Results: An Era Where Competition Hits a Higher Gear</a> ), the recent fire-bomb attack on Hong Kong’s MTR that left 19 injured signals increasing costs for transport operators. This article presents another reason why investors should sell MTR Corp, on top of points already provided by fellow insight provider Sameer Taneja in an earlier piece <a href="https://www.smartkarma.com/insights/mtr-66-hk-conviction-sell-thesis" target="_blank" data-smartkarma-citation="insights:7982">MTR (66 HK): Conviction Sell Thesis</a><h2>Security Costs to</h2>…

Extending my point about more demanding transportation frameworks going forward (see ComfortDelGro FY16 Results: An Era Where Competition Hits a Higher Gear ), the recent fire-bomb attack on Hong Kong’s MTR that left 19 injured signals increasing costs for transport operators. This article presents another reason why investors should sell MTR Corp, on top of points already provided by fellow insight provider Sameer Taneja in an earlier piece MTR (66 HK): Conviction Sell ThesisSecurity Costs to…

66 HK and SBUS SP: Attack on HK Metro Signals Increases in Transport Operators' Costs

Singapore

COSCO SHIPPING International (Singapore) Co., Ltd. provides ship building and repairing and marine engineering services. The Company offers bulk, liquefied natural gas, and special purpose carriers, as well as oil tankers. COSCO SHIPPING International serves customers worldwide.

COSCO SHIPPING International (Singapore) (COS SP)

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COSCO SHIPPING International (Singapore) (COS SP)

20 Largest China Plays Returned 27% in the YTD

Singapore Exchange Ltd (SGX)

SMM 1Q17: Sank to A Loss, Yet to See Lights at the End of the Tunnel

Sembcorp Marine Ltd (SMM SP) reported disappointing results yesterday. It is significantly below what the street was expecting. In this insight, I...

Ke Yan, CFA, FRM

Singapore: Traditional Firms Must Disrupt Themselves or The Market Will Do It

There were a couple of news items this week that convinced me that the Singapore government will not protect traditional businesses or...

Valerie Law, CFA

66 HK and SBUS SP: Attack on HK Metro Signals Increases in Transport Operators' Costs

Extending my point about more demanding transportation frameworks going forward (see ComfortDelGro FY16 Results: An Era Where Competition Hits a...

Valerie Law, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)