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>The number &amp; combined market cap of SGX listed stocks focused on thermal coal mining in Indonesia has grown fourfold over the past three years. Following Geo Energy’s listing in 2012, three RTOs have seen Resources Prima Group, BlackGold Natural Resources and Golden Energy and Resources list on SGX.</li><li>Two of these four stocks - Geo Energy Resources (<a href="http://www.sgx.com/wps/portal/sgxweb/home/company_disclosure/stockfacts?page=1&amp;code=RE4&amp;lang=en-us" target="_blank">RE4</a>) &amp; BlackGold Natural Resources (<a href="http://www.sgx.com/wps/portal/sgxweb/home/company_disclosure/stockfacts?page=1&amp;code=41H&amp;lang=en-us" target="_blank">41H</a>) - have generated triple digit returns over the past 12 months, taking the average 12 month return for the four thermal coal stocks to 58%.</li></ul><ul><li>Geo Energy reported quarterly net profit of US$14.7 million in 4Q2016, the highest ever quarterly profit recorded since it listed on SGX in 2012. Geo Energy achieved 5.5 million metric tonnes of coal sales in FY2016, which translated to sales revenue of US$182 million.</li><li>BlackGold Natural Resources reported a net loss in FY2016, which was 88% less than its FY2015 loss.  Revenues were generated from the Group's PT SB concession with production commencing in 1Q16 and sold to a Riau state-owned enterprise. Yesterday the stock requested a suspension pending the release of an announcement. </li></ul>

The number &amp; combined market cap of SGX listed stocks focused on thermal coal mining in Indonesia has grown fourfold over the past three years. Following Geo Energy’s listing in 2012, three RTOs have seen Resources Prima Group, BlackGold Natural Resources and Golden Energy and Resources list on SGX.Two of these four stocks - Geo Energy Resources (RE4) &amp; BlackGold Natural Resources (41H) - have generated triple digit returns over the past 12 months, taking the average 12 month return for the four thermal coal stocks to 58%.Geo Energy reported quarterly net profit of US$14.7 million in 4Q2016, the highest ever quarterly profit recorded since it listed on SGX in 2012. Geo Energy achieved 5.5 million metric tonnes of coal sales in FY2016, which translated to sales revenue of US$182 million.BlackGold Natural Resources reported a net loss in FY2016, which was 88% less than its FY2015 loss.  Revenues were generated from the Group's PT SB concession with production commencing in 1Q16 and sold to a Riau state-owned enterprise. Yesterday the stock requested a suspension pending the release of an announcement. 

Significant Expansion of Singapore's Coal Mining Stocks

Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

Chief Economist & Political Strategist

REAL-Economics.com

Macroeconomics

-The oil majors' favourite refining hub in ASEAN is Singapore, while the crude-oil/gas comes mainly from Indonesia, Malaysia and Brunei. Infusion of Saudi capital will help to partially redress that, although Saudi Arabia is only the 7th largest oil-refining country, and ARAMCO has moderate amounts of technological expertise (mainly from its ownership of S-Oil in Korea). -Malaysia and (especially) Indonesia have been wary of "Arabised" or Wahhabi Islam, and see Saudi offers to widen Arabic…

-The oil majors' favourite refining hub in ASEAN is Singapore, while the crude-oil/gas comes mainly from Indonesia, Malaysia and Brunei. Infusion of Saudi capital will help to partially redress that, although Saudi Arabia is only the 7th largest oil-refining country, and ARAMCO has moderate amounts of technological expertise (mainly from its ownership of S-Oil in Korea). -Malaysia and (especially) Indonesia have been wary of "Arabised" or Wahhabi Islam, and see Saudi offers to widen Arabic…

King Salman Bearing Gifts: Implications for ASEAN, Oil-Refining and Religion

<ul><li>Singapore lists four Coal mining plays - Golden Energy and Resources, Geo Energy Resources, Resources Prima Group and BlackGold Natural Resources. All four stocks mine thermal coal - used to generate electricity, with mining conducted in Indonesia, and all companies report in US Dollars.</li><li>The YTD returns of the four Coal miners have been mixed, with average returns of 1% in the 2016 year thus far. Geo Energy Resources has been the best performing of the four stocks with a 57% return.</li><li>Following a 3Q16 turnaround profit of US$11.6 million, the RTO of Golden Energy and Resources debuted this week on SGX Mainboard. As part of the RTO, the company placed out S$123 million of shares to institutions. The share price closed yesterday at a 28% discount to the S$0.67 share placement price. The Group’s coal business held by the PT Golden Energy Mines Tbk Group was valued at US$3.01 billion as of 31 August 2016.</li><li>The SGX Listing Rules for Mining plays recognise international best practices in reporting standards  - specifically JORC and NI43-101. Typically these reports will include the technical basis on which statements of reserves, resources or exploration results are made, and are available on all four Coal plays. </li></ul>

Singapore lists four Coal mining plays - Golden Energy and Resources, Geo Energy Resources, Resources Prima Group and BlackGold Natural Resources. All four stocks mine thermal coal - used to generate electricity, with mining conducted in Indonesia, and all companies report in US Dollars.The YTD returns of the four Coal miners have been mixed, with average returns of 1% in the 2016 year thus far. Geo Energy Resources has been the best performing of the four stocks with a 57% return.Following a 3Q16 turnaround profit of US$11.6 million, the RTO of Golden Energy and Resources debuted this week on SGX Mainboard. As part of the RTO, the company placed out S$123 million of shares to institutions. The share price closed yesterday at a 28% discount to the S$0.67 share placement price. The Group’s coal business held by the PT Golden Energy Mines Tbk Group was valued at US$3.01 billion as of 31 August 2016.The SGX Listing Rules for Mining plays recognise international best practices in reporting standards  - specifically JORC and NI43-101. Typically these reports will include the technical basis on which statements of reserves, resources or exploration results are made, and are available on all four Coal plays. 

SGX lists four Upstream Coal Plays: Geo Energy Resources, Resources Prima Group, BlackGold Natural Resources and Golden Energy &amp; Resources.Geo Energy Resources has been the strongest performer among the four upstream plays in the 2016 year to date with a 37.9% gain. On 12 August,  Geo Energy Group reported that for the six months ending 30 June 2016, company revenue was US$33 million compared to US$10 million for the same period a year ago.

SGX lists four Upstream Coal Plays: Geo Energy Resources, Resources Prima Group, BlackGold Natural Resources and Golden Energy &amp; Resources.Geo Energy Resources has been the strongest performer among the four upstream plays in the 2016 year to date with a 37.9% gain. On 12 August,  Geo Energy Group reported that for the six months ending 30 June 2016, company revenue was US$33 million compared to US$10 million for the same period a year ago.

Geo Energy Resources Led Upstream Coal Plays in 2016 YTD

Singapore

Established in 1828, Boustead Singapore Limited (SGX:F9D) is a progressive global Infrastructure-Related Engineering and Technology Group listed on the SGX Mainboard.

Focusing on the niche engineering and development of key infrastructure to support sustainable shared socio-economic growth in global markets, our strong suite of engineering services under our Energy Engineering Division and Real Estate Division centres on energy infrastructure and smart, eco-sustainable and future-ready business park and industrial developments.

In addition, we provide technology-driven transformative solutions to improve quality of life for all walks of life.  Our Geospatial Division provides professional services and exclusively distributes Esri ArcGIS technology – the world’s leading geographic information system, smart mapping and location analytics platform – to major markets in the Asia Pacific.  The software creates digital infrastructure solutions and digital twins that enable smart nations, smart cities and smart communities to solve the world’s most complex problems through effective and sustainable improvement of human wellbeing and ecosystems, and planning and management of key infrastructure and resources.  Our Healthcare Division provides innovative medical solutions that address niche age-related chronic diseases and mobility issues, with a focus on rehabilitative care and sports science in the Asia Pacific.

With a vast global network stretching across Asia, Australia, Europe, Africa and the Americas, we are ready to serve the world.  To date, we have undertaken projects in 90 countries and territories globally.

In 2008 and 2009, we were recognised in the prestigious Forbes Asia 200 Best Under A Billion as one of the Asia Pacific’s 200 best public-listed corporations under US$1 billion in revenue.  In 2017, we were ranked by FinanceAsia as Singapore’s Best Small-Cap in the annual Asia’s Best Companies Poll.  In 2019, we were awarded the Most Transparent Company in the Industrials Category and Sustainability Award (Runner-Up) in the Mid Cap Category by the Securities Investors Association (Singapore).  For the second successive year in 2021, we were ranked among Singapore’s Best Employers, at 40th overall and 1st under our respective category of Business Services & Supplies (including Real Estate) in an evaluation encompassing 1,700 large corporations.  In 2021, we were awarded the Corporate Excellence & Resilience Award at the Singapore Corporate Awards 2021 Special Edition, a recognition of our best practices in corporate governance and leadership, innovation and resilience during the COVID-19 pandemic – among only 26 SGX-listed corporations to be honoured across all market capitalisation categories and only seven in the Mid Cap Category.  We are also listed on the MSCI World Micro Cap Index, FTSE Global Small Cap Index, FTSE Developed Small Cap Index and FTSE ST Industrials Index.

Visit us at www.boustead.sg.

Mermaid Maritime PCL is a provider of drilling and sub-sea engineering services for the offshore oil and gas industry. The Company's sub-sea engineering division services clients in South East Asia, India, China, Sakhlin, the North Sea, the Middle East and South America.

Atlantic Navigation Holdings (Singapore) Ltd. is a shipping company. The Company offers an integrated platform of services including vessel owning, operating, chartering of third party vessels, maintenance workshop and steel fabrication works for the offshore industry. Atlantic primarily operates its fleet in the Middle East and Indian markets.

Atlantic Navigation Holdings (Sing) (ATL SP)

Baker Technology Limited manufactures and provides equipment and services for the oil & gas industry. The Company's products include offshore pedestal cranes, anchor winches, skidding systems, jacking systems and raw water tower structures. Baker also provides services such as project management, engineering services, quality assurance, and construction supervision.

Hai Leck Holdings Ltd. provides scaffolding and corrosion prevention and insulation services to the oil and natural gas and petrochemical industries.

Pacific Radiance Ltd. offers offshore vessels and support services. The Company owns and operates offshore vessels and provides subsea services, shipyard services, marine equipment as well as project logistics to the oil and gas industry around the world.

MTQ Corporation Limited provides oilfield engineering services. The Company also rents oilfield equipment, sells and services turbocharger and fuel injection parts.

CH Offshore Limited owns and charters vessels to support and service the offshore oil and gas industry.  The Company also provides seismic surveys, towing and anchor handling of drill rigs and equipment, and transportation of supplies and personnel.  CH Offshore provides supporting services for the construction of platforms and laying of the pipelines.

Jasper Investments Limited and its subsidiaries provide engineering and construction services.  The Company also manufactures and trades building materials, trades, services and rents construction machinery and equipment, and develops and invests in properties.

CosmoSteel Holdings Ltd. sources and distributes piping system components. The Company distributes piping system components including pipes, fittings and flanges. CosmoSteel also provides machining services.

Velesto Energy Berhad provides services to the oil and gas industry. The Company offers drilling operations, pipe manufacturing, and oilfield services.

Zhejiang Kingland Pipeline and Technologies Co., Ltd. develops, manufactures, and sells high-grade oil and gas pipelines.  The Company's products are spiral welded pipe, galvanized steel pipe, and steel-plastic composite pipe etc.

Zhejiang Kingland Pipeline And Tech Co (002443 CH)

China Oil HBP Science & Technology Company Limited designs and develops  oil and gas field development technology ground systems and full set equipment and provides engineering services.

China Oil Hbp Science&Technology (002554 CH)

SEAMEC Ltd owns and operates diving support vessels.  The Company performs subsea inspections, repair, maintenance and light construction on offshore oil equipment.

PetroVietnam Transportation Corporation provides maritime transportation and services to the oil and gas industry in Vietnam and internationally. It owns, operates, and charters crude oil, oil products, gas products, and chemical tankers, as well as offshore support vessels and other cargo ships. The company transports crude oil, refined oil products, and gas products and chemicals. It also provides offshore technical services, such as FPSO/FSO services, offshore support vessels, marine survey, offshore fabrication, transportation, installation, maintenance, and repair, as well as manpower supply, etc. In addition, the company offers logistics services; industrial, agricultural, fishery, and household products import and export services; travel and tourist services; and man power training services. Further, it provides other services, including the procurement and supply of marine, oil, and gas materials and equipment; marine and container freight forwarding services; road and inland waterway transportation services; gas taxi and passenger transportation services; freight forwarding services; multi-modal transportation; and real estate and financial investment services. The company was founded in 2002 and is based in Ho Chi Minh City, Vietnam. PetroVietnam Transportation Corporation is a subsidiary of Vietnam National Oil and Gas Group.

Chengdu Huaqi Houpu Holding Co., Ltd. operates as a clean fuel refueling solution provider. The Company provides station management for LNG, CNG, and L-CNG stations.  Chengdu Huaqi Houpu serves customers around the world.

Chengdu Huaqihoupu Holding Co (300471 CH)

Ensign Energy Services Inc provides oilfield services in Canada, the United States and internationally.  The Company offers land-based drilling and well servicing contractors serving crude oil, natural gas and geothermal operators. Additional services include directional drilling, rental equipment, managed pressure drilling, and production flow back units.

Dalian Energas Gas-System Co., Ltd. is a manufacturer of industrial systems. The Company offers fuel gas distribution system, fuel gas application system, spare parts, and services.

SEACOR Marine Holdings Inc. operates a fleet of offshore marine support vessels. The Company offers crew transportation, platform supply, offshore accommodation, maintenance support, standby safety, and anchor handling and mooring services. SEACOR Marine Holdings serves the offshore oil and gas exploration and production industry.

Matrix Service Company provides specialized on-site maintenance and construction services for petroleum refining and storage facilities, as well as water storage facilities for the private industry sector.  The Company's services include the maintenance, inspection, design, repair, and construction of aboveground storage tanks.

Dyna-Mac Holdings Ltd. offers engineering, procurement and construction services to the offshore oil and natural gas, marine construction and other industries.  The Company builds topside modules for floating production storage and offloading, semi-submersibles, manifolds, buoys, process piping, and tanks for petrochemical and pharmaceutical plants.

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Dyna Mac Holdings (DMHL SP)

Significant Expansion of Singapore's Coal Mining Stocks

The number & combined market cap of SGX listed stocks focused on thermal coal mining in Indonesia has grown fourfold over the past three...

Singapore Exchange Ltd (SGX)

King Salman Bearing Gifts: Implications for ASEAN, Oil-Refining and Religion

-The oil majors' favourite refining hub in ASEAN is Singapore, while the crude-oil/gas comes mainly from Indonesia, Malaysia and Brunei. Infusion...

Prasenjit K. Basu

Growth of Singapore's Coal Mining Stocks

Singapore lists four Coal mining plays - Golden Energy and Resources, Geo Energy Resources, Resources Prima Group and BlackGold Natural Resources....

Singapore Exchange Ltd (SGX)

Geo Energy Resources Led Upstream Coal Plays in 2016 YTD

SGX lists four Upstream Coal Plays: Geo Energy Resources, Resources Prima Group, BlackGold Natural Resources and Golden Energy & Resources.Geo...

Singapore Exchange Ltd (SGX)

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