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)

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§  The Consumer Staples Sector is made up of businesses less sensitive to economic cycles. In comparison, the performance of businesses in the Consumer Discretionary Sector tend to be more impacted by these cycles.
 
§  Globally, the MSCI World Consumer Staples Index has generated a 2.7% dividend inclusive YTD return while regionally, the MSCI AC Asia Pacific Consumer Staples Index generated a 5.7% dividend inclusive YTD return. This compared to a 1.3% decline and 0.8% gain for the…
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§  The Consumer Staples Sector is made up of businesses less sensitive to economic cycles. In comparison, the performance of businesses in the Consumer Discretionary Sector tend to be more impacted by these cycles.
 
§  Globally, the MSCI World Consumer Staples Index has generated a 2.7% dividend inclusive YTD return while regionally, the MSCI AC Asia Pacific Consumer Staples Index generated a 5.7% dividend inclusive YTD return. This compared to a 1.3% decline and 0.8% gain for the…




Consumer Staples Offered Investor Returns Amid Lower Growth Outlooks

Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Equity Bottom-Up

Coup'la years ago, the Goldman Sachs, the mightiest firm on Wall Street which already had a stake in Four Seasons, tried to buy the Regent in Thailand, but was defeated Bill Heinecke, but how did he do it? Heinecke is no master strategist like Sun Tzu. He's more like a Thai-American Richard Branson. Came down with Mama and decided to stay long term, and the rest is history. The former AMCHAM (American Chamber of Commerce) Chairman and first farang to hit our list, Heinecke loves go-karting, and his conglomerate seems messy and more Thai than you'd expect for a focussed American business.Today, he runs MINT (Minor International), Thailand's biggest hotel and restaurant chain. If you've eaten at Burger King, Sizzler, or the Pizza in Bangkok, you've just made him a little richer. His book The Enterprenuer is a bestseller; his eccentric story is legend. His scuffle with Goldman...hmm they rather keep that under the rug haha...so enjoy, folks! Oh he told me you guys should drink some Dairy Queen Moolata while you're at it; he sells those too Haha.

Coup'la years ago, the Goldman Sachs, the mightiest firm on Wall Street which already had a stake in Four Seasons, tried to buy the Regent in Thailand, but was defeated Bill Heinecke, but how did he do it? Heinecke is no master strategist like Sun Tzu. He's more like a Thai-American Richard Branson. Came down with Mama and decided to stay long term, and the rest is history. The former AMCHAM (American Chamber of Commerce) Chairman and first farang to hit our list, Heinecke loves go-karting, and his conglomerate seems messy and more Thai than you'd expect for a focussed American business.Today, he runs MINT (Minor International), Thailand's biggest hotel and restaurant chain. If you've eaten at Burger King, Sizzler, or the Pizza in Bangkok, you've just made him a little richer. His book The Enterprenuer is a bestseller; his eccentric story is legend. His scuffle with Goldman...hmm they rather keep that under the rug haha...so enjoy, folks! Oh he told me you guys should drink some Dairy Queen Moolata while you're at it; he sells those too Haha.

We introduce our new series about the story, businesses, and investment themes of the top ten Thai tycoons who have exposure to stock markets, starting the season premiere with the CP Group. Valued at US$14.4bn, Dhanin Cheravonont is Thailand's richest man. Though not the founder, he was the man who put this Group on the map. With his extended family, he controls an empire spanning diverse sectors such as retailing, food, telecoms, and insurance, though we consider food to be the core. They are listed on more than three exchanges, including Thailand, HK, and Indonesia. Within this empire, we see significant corporate governance challenges, though we also see some investment opportunities in two stocks, namely CPF and DIF. We are bearish on True Corp and think that CP All is already fairly priced. At the end of the day, this is the biggest private conglomerate in Thailand yo. At the very least, if you are seriously investing in this market, it would help to know their background.

We introduce our new series about the story, businesses, and investment themes of the top ten Thai tycoons who have exposure to stock markets, starting the season premiere with the CP Group. Valued at US$14.4bn, Dhanin Cheravonont is Thailand's richest man. Though not the founder, he was the man who put this Group on the map. With his extended family, he controls an empire spanning diverse sectors such as retailing, food, telecoms, and insurance, though we consider food to be the core. They are listed on more than three exchanges, including Thailand, HK, and Indonesia. Within this empire, we see significant corporate governance challenges, though we also see some investment opportunities in two stocks, namely CPF and DIF. We are bearish on True Corp and think that CP All is already fairly priced. At the end of the day, this is the biggest private conglomerate in Thailand yo. At the very least, if you are seriously investing in this market, it would help to know their background.

Thai-Coons (Season Premiere): The Richest Man in Thailand

<ul><li>Of the actively traded stocks listed on SGX, Singapore Medical Group saw the biggest jump in volume in August compared to its three-month average volume. The stock also gained 91.4% in August and earlier in the month reported a turnaround net profit of S$0.8 million for 1H2016 compared to a net loss of S$0.1 million in 1H2015.</li></ul><ul><li>
Consumer Staples plays, Sheng Siong Group and Dairy Farm International Holdings were also amongst the 10 actively traded stocks that saw the biggest jump in August volume.…</li></ul>

Of the actively traded stocks listed on SGX, Singapore Medical Group saw the biggest jump in volume in August compared to its three-month average volume. The stock also gained 91.4% in August and earlier in the month reported a turnaround net profit of S$0.8 million for 1H2016 compared to a net loss of S$0.1 million in 1H2015.
Consumer Staples plays, Sheng Siong Group and Dairy Farm International Holdings were also amongst the 10 actively traded stocks that saw the biggest jump in August volume.…

10 Biggest Volume Jumpers in August Spanned Seven Sectors

§ The 10 biggest SGX-listed F&amp;B plays average a market cap of S$3.5 billion, and averaged a 23% gain in the 2016 year through to 26 August. Japfa, Thai Beverage PCL and Jumbo Group were the strongest performers of the 10.§ The next 10 biggest SGX-listed F&amp;B plays average a market cap of S$153 million, and also averaged a 23% gain in the 2016 year through to 26 August. Food Empire Holdings and Katrina Group were the amongst strongest performers of the 10.§ Katrina Group was incorporated in 1995…

§ The 10 biggest SGX-listed F&amp;B plays average a market cap of S$3.5 billion, and averaged a 23% gain in the 2016 year through to 26 August. Japfa, Thai Beverage PCL and Jumbo Group were the strongest performers of the 10.§ The next 10 biggest SGX-listed F&amp;B plays average a market cap of S$153 million, and also averaged a 23% gain in the 2016 year through to 26 August. Food Empire Holdings and Katrina Group were the amongst strongest performers of the 10.§ Katrina Group was incorporated in 1995…

Singapore's Strongest Food & Beverage Stocks in 2016 YTD

Thailand

CP ALL PCL operates convenience store chains in Thailand and China.  The Company also owns and operates the a department store chain located primarily in Shanghai city and Chonqing city of China.

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CP ALL PCL (CPALL TB)

Consumer Staples Offered Investor Returns Amid Lower Growth Outlooks

§ The Consumer Staples Sector is made up of businesses less sensitive to economic cycles. In comparison, the performance of businesses...

Singapore Exchange Ltd (SGX)

Thai-Coons Ep. 9: Beating Goldman Sachs

Coup'la years ago, the Goldman Sachs, the mightiest firm on Wall Street which already had a stake in Four Seasons, tried to buy the Regent in...

Athaporn Arayasantiparb, CFA

Thai-Coons (Season Premiere): The Richest Man in Thailand

We introduce our new series about the story, businesses, and investment themes of the top ten Thai tycoons who have exposure to stock markets,...

Athaporn Arayasantiparb, CFA

10 Biggest Volume Jumpers in August Spanned Seven Sectors

Of the actively traded stocks listed on SGX, Singapore Medical Group saw the biggest jump in volume in August compared to its three-month average...

Singapore Exchange Ltd (SGX)

Singapore's Strongest Food & Beverage Stocks in 2016 YTD

§ The 10 biggest SGX-listed F&B plays average a market cap of S$3.5 billion, and averaged a 23% gain in the 2016 year through to 26 August....

Singapore Exchange Ltd (SGX)

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