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>DBS, OCBC and UOB comprise 46% of the STI weightages and have averaged 32% total returns since the end of 2019, outpacing the STI’s 15% total return over the period.</li><li>Among the current STI constituents, the three banks saw the fourth, seventh and tenth highest total returns since 2019.</li><li>DBS Group Holdings ("DBS"), Oversea-Chinese Banking Corp ("OCBC") and United Overseas Bank ("UOB") have averaged 32% total returns since the end of 2019, bringing their 10-year annualised total returns to 7.5% as of 12 May.</li></ul>

DBS, OCBC and UOB comprise 46% of the STI weightages and have averaged 32% total returns since the end of 2019, outpacing the STI’s 15% total return over the period.Among the current STI constituents, the three banks saw the fourth, seventh and tenth highest total returns since 2019.DBS Group Holdings ("DBS"), Oversea-Chinese Banking Corp ("OCBC") and United Overseas Bank ("UOB") have averaged 32% total returns since the end of 2019, bringing their 10-year annualised total returns to 7.5% as of 12 May.

DBS, OCBC & UOB Report Record Quarterly Net Profits

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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

Alibaba Group Holding  / Equity Capital Markets

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>
<a href="https://www.smartkarma.com/entities/mankind-pharma-ltd" target="_blank" data-smartkarma-citation="entities:36389:1" rel="noopener">Mankind Pharma</a> delivered some joy to the Indian equity markets over the past week.</li>
<li>There were no major placements over the past week but there were some lockup expiries.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Mankind Pharma delivered some joy to the Indian equity markets over the past week.
There were no major placements over the past week but there were some lockup expiries.


ECM Weekly (14th May 2023) - Mankind, Nexus REIT, SCG Chemicals, Guoquan, Shiyue, Medanta, Bikaji

<ul>
<li>
<a href="https://www.smartkarma.com/entities/scg-chemicals-pcl" target="_blank" data-smartkarma-citation="entities:39791:1" rel="noopener">SCG Chemicals (SCGC TB)</a> (SCGC) is looking to raise around US$1bn in its upcoming Thailand IPO.</li>
<li>SCG Chemicals, a part of the SCC group, is an integrated chemicals player in ASEAN, involved primarily in manufacturing, marketing and selling a diversified range of petrochemical products.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



SCG Chemicals (SCGC TB) (SCGC) is looking to raise around US$1bn in its upcoming Thailand IPO.
SCG Chemicals, a part of the SCC group, is an integrated chemicals player in ASEAN, involved primarily in manufacturing, marketing and selling a diversified range of petrochemical products.
In this note, we talk about the not-so-positive aspects of the deal.


SCG Chemicals Pre-IPO -The Negatives - Recent Performance Has Been Weak

Pertamina Hulu Energi / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pertamina-hulu-energi-pt" target="_blank" data-smartkarma-citation="entities:39781:1" rel="noopener">Pertamina Hulu Energi</a>  is looking to raise around US$1bn in its upcoming Indonesia IPO.</li>
<li>PHE is a subsidiary of  Pertamina (Persero), which operates an integrated end-to-end energy business, from upstream to downstream businesses. PHE manages the upstream oil and gas assets of its parent.</li>
<li>In this note, we will talk about the not-so-positive aspects of the deal.</li>
</ul>



Pertamina Hulu Energi  is looking to raise around US$1bn in its upcoming Indonesia IPO.
PHE is a subsidiary of  Pertamina (Persero), which operates an integrated end-to-end energy business, from upstream to downstream businesses. PHE manages the upstream oil and gas assets of its parent.
In this note, we will talk about the not-so-positive aspects of the deal.


Pertamina Hulu Energi Early Look - The Negatives - Past Growth Record Seems Lackluster

PT Pertamina (Persero) / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pertamina-hulu-energi-pt" target="_blank" data-smartkarma-citation="entities:39781:1" rel="noopener">Pertamina Hulu Energi</a>  is looking to raise around US$1bn in its upcoming Indonesia IPO.</li>
<li>PHE is a subsidiary of  <a href="https://www.smartkarma.com/entities/pt-pertamina-persero" target="_blank" data-smartkarma-citation="entities:35862:1" rel="noopener">Pertamina (Persero)</a>, which operates an integrated end-to-end energy business, from upstream to downstream businesses. PHE manages the upstream oil and gas assets of its parent.</li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>



Pertamina Hulu Energi  is looking to raise around US$1bn in its upcoming Indonesia IPO.
PHE is a subsidiary of  Pertamina (Persero), which operates an integrated end-to-end energy business, from upstream to downstream businesses. PHE manages the upstream oil and gas assets of its parent.
In this note, we will talk about the positive aspects of the deal.


Pertamina Hulu Energi Early Look - The Positives - High Domestic Market Share

Singapore

DBS Group Holdings Limited and its subsidiaries provide a variety of financial services.  The Company offers services including mortgage financing, lease and hire purchase financing, nominee and trustee, funds management, corporate advisory and brokerage .  DBS Group also acts as the primary dealer in Singapore government securities.

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DBS (DBS SP)

DBS, OCBC & UOB Report Record Quarterly Net Profits

DBS, OCBC and UOB comprise 46% of the STI weightages and have averaged 32% total returns since the end of 2019, outpacing the STI’s 15% total...

Singapore Exchange Ltd (SGX)

ECM Weekly (14th May 2023) - Mankind, Nexus REIT, SCG Chemicals, Guoquan, Shiyue, Medanta, Bikaji

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

SCG Chemicals Pre-IPO -The Negatives - Recent Performance Has Been Weak

SCG Chemicals (SCGC TB) (SCGC) is looking to raise around US$1bn in its upcoming Thailand IPO. In this note, we will talk about the not-so-positive...

Sumeet Singh

Pertamina Hulu Energi Early Look - The Negatives - Past Growth Record Seems Lackluster

Pertamina Hulu Energi is looking to raise around US$1bn in its upcoming Indonesia IPO. In this note we talk about the not so positive aspects of...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

DBS, OCBC & UOB Report Record Quarterly Net Profits

DBS, OCBC and UOB comprise 46% of the STI weightages and have averaged 32% total returns since the end of 2019, outpacing the STI’s 15% total...

Singapore Exchange Ltd (SGX)

ECM Weekly (14th May 2023) - Mankind, Nexus REIT, SCG Chemicals, Guoquan, Shiyue, Medanta, Bikaji

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

SCG Chemicals Pre-IPO -The Negatives - Recent Performance Has Been Weak

SCG Chemicals (SCGC TB) (SCGC) is looking to raise around US$1bn in its upcoming Thailand IPO. In this note, we will talk about the not-so-positive...

Sumeet Singh

Pertamina Hulu Energi Early Look - The Negatives - Past Growth Record Seems Lackluster

Pertamina Hulu Energi is looking to raise around US$1bn in its upcoming Indonesia IPO. In this note we talk about the not so positive aspects of...

Sumeet Singh

Pertamina Hulu Energi Early Look - The Positives - High Domestic Market Share

Pertamina Hulu Energi (PHE) is looking to raise around US$1bn in its upcoming Indonesia IPO. In this note, we talk about the positive aspects of...

Sumeet Singh