Research from SooChow CSSD Capital Markets (Asia), SCCM Asia Research

SCCM Asia Research

Research from SooChow CSSD Capital Markets (Asia)

Thematic (Sector/Industry)

<h2>Singapore</h2>
<h3>
<a href="https://www.smartkarma.com/entities/esr-reit" target="_blank" data-smartkarma-citation="entities:10934" rel="noopener">ESR-REIT (EREIT SP)</a> and <a href="https://www.smartkarma.com/entities/ara-logos-logistics-trust" target="_blank" data-smartkarma-citation="entities:937" rel="noopener">ARA LOGOS (ALLT SP)</a> proposed merger to form ESR-LOGOS REIT; DPU accretive for both unitholders</h3>
<ul>
<li>The proposed merger will be effected by way of a Trust Scheme with EREIT acquiring all units of ALLT in exchange for a combination of cash and new units in EREIT. The merger is conditional upon, inter alia, the completion of ESR Cayman (“ESR” or the “Sponsor”) and ARA Asset Management’s merger. ALLT unitholders will receive a scheme consideration of S$0.95 for each ALLT unit comprising 1) the payment of S$0.095 in cash per ALLT unit and the allotment and issue of 1.6765 new EREIT units for each ALLT unit, issued at S$0.51. The total consideration for the proposed merger is ~S$1.4bn based on the Scheme Consideration of S$0.95 for each ALLT unit. Upon completion, the enlarged REIT will be renamed ESR-LOGOS REIT (E-LOG)</li>
<li>Post-merger, E-LOG will continue to be managed by EREIT manager. The shareholding structure of E-LOG will be: Summit Group (12.7%), ESR (10.9%), and public (76.4%). The merger also removes any potential overlapping mandate between EREIT and ALLT</li>
<li>From EREIT’s perspective, the merger is expected to be +5.8% DPU accretive on FY20 proforma basis and -6.4% NAV dilutive. From ALLT perspective, the merger is +8.2% DPU accretive on FY20 proforma basis and +2.2% NAV accretive as well</li>
<li>The effects of the merger: 1) Total assets will rise to 87 properties (S$5.4bn) with 2.2m sqft NLA and 437 tenants; 2) ~66% of portfolio exposure is in the new economy (logistics and hi-tech); 3) Rising occupancy to 94.5% (from 91.7%); 4) Increased WALE to 3.2yrs (from 2.8yrs); 5) Extend land lease expiry to 37.9yrs (from 31yrs); 6) lower cost of debt to 2.84% (from 3.24%) with longer WADE; and 7) +1.6x larger debt headroom</li>
<li>Unitholders’ approval for EREIT is required for both merger and issuance of units (&gt;50% of total number votes), while approval for ALLT are required for the scheme (&gt;50% in numbers, &gt;75% in value) and amendment of deed (&gt;=75%). Ivanhoe Cambridge Asia (holder of 8.74% of ALLT) has given an irrevocable undertaking to vote in favour of all resolutions</li>
<li>EREIT is trading at 1.17x P/B and 6.7% FY21E yield, while ALLT is trading at 1.39x P/B and 5.5% FY21E yield</li>
<li>The financing scheme and timeline is detailed on table below (illustrative purpose).</li>
</ul>

Singapore

ESR-REIT (EREIT SP) and ARA LOGOS (ALLT SP) proposed merger to form ESR-LOGOS REIT; DPU accretive for both unitholders

The proposed merger will be effected by way of a Trust Scheme with EREIT acquiring all units of ALLT in exchange for a combination of cash and new units in EREIT. The merger is conditional upon, inter alia, the completion of ESR Cayman (“ESR” or the “Sponsor”) and ARA Asset Management’s merger. ALLT unitholders will receive a scheme consideration of S$0.95 for each ALLT unit comprising 1) the payment of S$0.095 in cash per ALLT unit and the allotment and issue of 1.6765 new EREIT units for each ALLT unit, issued at S$0.51. The total consideration for the proposed merger is ~S$1.4bn based on the Scheme Consideration of S$0.95 for each ALLT unit. Upon completion, the enlarged REIT will be renamed ESR-LOGOS REIT (E-LOG)
Post-merger, E-LOG will continue to be managed by EREIT manager. The shareholding structure of E-LOG will be: Summit Group (12.7%), ESR (10.9%), and public (76.4%). The merger also removes any potential overlapping mandate between EREIT and ALLT
From EREIT’s perspective, the merger is expected to be +5.8% DPU accretive on FY20 proforma basis and -6.4% NAV dilutive. From ALLT perspective, the merger is +8.2% DPU accretive on FY20 proforma basis and +2.2% NAV accretive as well
The effects of the merger: 1) Total assets will rise to 87 properties (S$5.4bn) with 2.2m sqft NLA and 437 tenants; 2) ~66% of portfolio exposure is in the new economy (logistics and hi-tech); 3) Rising occupancy to 94.5% (from 91.7%); 4) Increased WALE to 3.2yrs (from 2.8yrs); 5) Extend land lease expiry to 37.9yrs (from 31yrs); 6) lower cost of debt to 2.84% (from 3.24%) with longer WADE; and 7) +1.6x larger debt headroom
Unitholders’ approval for EREIT is required for both merger and issuance of units (&gt;50% of total number votes), while approval for ALLT are required for the scheme (&gt;50% in numbers, &gt;75% in value) and amendment of deed (&gt;=75%). Ivanhoe Cambridge Asia (holder of 8.74% of ALLT) has given an irrevocable undertaking to vote in favour of all resolutions
EREIT is trading at 1.17x P/B and 6.7% FY21E yield, while ALLT is trading at 1.39x P/B and 5.5% FY21E yield
The financing scheme and timeline is detailed on table below (illustrative purpose).


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

<figure>
 <img src='https://api2.sgx.com/sites/default/files/2021-10/Capture.PNG' alt='Rebound in flows' />
 </figure>
 <div class='content-caption'>Rebound in flows</div>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd">
<html><body>
The iEdge S-REIT Index ended the third quarter of 2021 relatively flat with 0.2 per cent total returns, in line with global REIT markets which declined towards the later half of the quarter due to steepening of yield curves. This brings the index year-to-date total returns to 4.5 per cent.

There are 20 trusts which outperformed the index in 3Q2021, including ten of the 11 trusts that entered the FTSE EPRA Nareit Global Developed Index following the most recent September review. The top five performing trusts, which were all recent index inclusions, were: OUE Commercial REIT (14.2 per cent), Starhill Global REIT (12.4 per cent), ARA LOGOS Logistics Trust (10.1 per cent), Far East Hospitality Trust (9.9 per cent), and ESR-REIT (9.3 per cent). These five trusts received net institutional inflows of S$192 million and net retail outflows of S$89 million this quarter.

In the year-to-date, the five best performing trusts where: ARA LOGOS Logistics Trust (60.2 per cent), Sabana REIT (34.3 per cent), Starhill Global REIT (32.6 per cent), Keppel Pacific Oak US REIT (28.4 per cent) and First REIT (27.8 per cent). These five trusts received net institutional inflows of S$132 million and net retail outflows of S$66 million in the year-to-date. 
Overall, institutional investors were net buyers of the S-Reits and property trusts sector in the third quarter, after being net sellers in the first half of 2021.

The sector received three consecutive months of net institutional inflows from July to September 2021, amounting to S$270 million.

Retail investors continue to be net buyers of the sector since the start of the year, with the exception of July, which saw net retail outflows of S$95 million. In the year to date, retail investors net buying activities in the sector totalled S$917 million. 
There are four trusts that received net inflows from both institutional and retail investors in the year-to-date: Frasers Logistics &amp; Commercial Trust (institutional: S$16.4 million; retail: S$8.5 million) , Far East Hospitality Trust (institutional: S$8.2 million; retail: S$1.7 million), Keppel Pacific Oak US REIT (institutional: S$5.5 million; retail: S$9.7 million) and Prime US REIT (institutional: S$0.5 million; retail: S$12.8 million).

Top three performing sub-sectors for the 3Q2021 period are Industrial REITs (3.3 per cent total returns), Specialised REITs (2.9 per cent), and Diversified REITs (2.0 per cent). Top three performing sub-sectors in the year-to-date are Healthcare REITs (25.4 per cent total returns), Industrial REITs (21.0 per cent), and Office REITs (11.8 per cent). REIT Watch is a weekly column on The Business Times,<a href="https://www.businesstimes.com.sg/companies-markets/china-focused-s-reits-resilient-amid-onshore-property-focus"> </a><a href="https://www.businesstimes.com.sg/companies-markets/third-quarter-wrap-sees-institutional-investors-return-to-s-reits">read </a>the original version.
</body></html>


      
    
    Rebound in flows


The iEdge S-REIT Index ended the third quarter of 2021 relatively flat with 0.2 per cent total returns, in line with global REIT markets which declined towards the later half of the quarter due to steepening of yield curves. This brings the index year-to-date total returns to 4.5 per cent.

There are 20 trusts which outperformed the index in 3Q2021, including ten of the 11 trusts that entered the FTSE EPRA Nareit Global Developed Index following the most recent September review. The top five performing trusts, which were all recent index inclusions, were: OUE Commercial REIT (14.2 per cent), Starhill Global REIT (12.4 per cent), ARA LOGOS Logistics Trust (10.1 per cent), Far East Hospitality Trust (9.9 per cent), and ESR-REIT (9.3 per cent). These five trusts received net institutional inflows of S$192 million and net retail outflows of S$89 million this quarter.

In the year-to-date, the five best performing trusts where: ARA LOGOS Logistics Trust (60.2 per cent), Sabana REIT (34.3 per cent), Starhill Global REIT (32.6 per cent), Keppel Pacific Oak US REIT (28.4 per cent) and First REIT (27.8 per cent). These five trusts received net institutional inflows of S$132 million and net retail outflows of S$66 million in the year-to-date.  
Overall, institutional investors were net buyers of the S-Reits and property trusts sector in the third quarter, after being net sellers in the first half of 2021.

The sector received three consecutive months of net institutional inflows from July to September 2021, amounting to S$270 million.

Retail investors continue to be net buyers of the sector since the start of the year, with the exception of July, which saw net retail outflows of S$95 million. In the year to date, retail investors net buying activities in the sector totalled S$917 million.  
There are four trusts that received net inflows from both institutional and retail investors in the year-to-date: Frasers Logistics &amp; Commercial Trust (institutional: S$16.4 million; retail: S$8.5 million) , Far East Hospitality Trust (institutional: S$8.2 million; retail: S$1.7 million), Keppel Pacific Oak US REIT (institutional: S$5.5 million; retail: S$9.7 million) and Prime US REIT (institutional: S$0.5 million; retail: S$12.8 million).

Top three performing sub-sectors for the 3Q2021 period are Industrial REITs (3.3 per cent total returns), Specialised REITs (2.9 per cent), and Diversified REITs (2.0 per cent). Top three performing sub-sectors in the year-to-date are Healthcare REITs (25.4 per cent total returns), Industrial REITs (21.0 per cent), and Office REITs (11.8 per cent).  REIT Watch is a weekly column on The Business Times, read the original version.



REIT Watch - Third quarter wrap sees institutional investors return to S-Reits

Frencken, iFAST & First Resources Among Most Consistent Gainers in 3Q21

<figure>
 <img src='https://api2.sgx.com/sites/default/files/2021-09/Capture%201.PNG' alt='FTSE EPRA' />
 </figure>
 <div class='content-caption'>FTSE EPRA</div>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd">
<html><body>
On Sept 1, FTSE Russell announced that 11 SGX-listed Reits &amp; Property Trusts, with market capitalisation ranging from S$2.6 billion to S$1.1 billion, entered the FTSE EPRA Nareit Global Developed Index after its quarterly index review.

This followed from a change in index rules announced in June 2021, which lowered the inclusion market cap threshold for the Developed Asia series from 0.3 to 0.1 per cent.

A total of 24 Reits were added into the FTSE EPRA Nareit Global Developed Index following the review, including seven from Australia, two from Hong Kong, three from Japan, one from New Zealand and 11 from Singapore.

The FTSE EPRA Nareit Global Real Estate Index Series, designed to represent general trends in eligible real estate equities worldwide, is a widely followed global benchmark with an estimated US$340 billion of assets under management actively benchmarked or passively tracking the indices. 
As of June 2021, there were 23 SGX-listed real estate related equities in the index series, which included 19 S-Reits. 
The recent index review will bring the total number of SGX-listed Reits in the index series to 30, with a combined market capitalisation of S$108 billion.

After the announcement, the 11 new inclusions saw a boost in trading activities on Sept 2, with a 353 per cent increase in traded value compared to their 12-month total average daily traded value (ADTV).

The three S-REITs which saw the biggest increase in ADTV on 2 Sep were ARA LOGOS Logistics Trust (+541 per cent), Starhill Global REIT (+431 per cent) and SPH REIT (+426 per cent), while the three S-REITs which saw the largest price jumps on 2 Sep were ESR-REIT (+8.5 per cent), ARA LOGOS Logistics Trust (+6.1 per cent) and OUE Commercial REIT (+6.1 per cent).

ARA Logos Logistics Trust (ALOG), with year-to-date total returns of 65.5 per cent, is among the best performing S-Reit this year.

Karen Lee, chief executive officer of ARA Logos Logistics Trust's (ALOG) manager, commented that ALOG's entry into the index will not only enhance ALOG's trading liquidity and extend its institutional investor reach but will also further strengthen ALOG's growth story.

Similarly, Adrian Chui, chief executive officer and executive director of ESR-Reit's manager, noted that the inclusion in the index will enhance the Reit's trading liquidity and visibility to investors worldwide, solidifying its position among listed industrial Reits in Singapore and providing access to wider pools of capital as ESR-Reit executes organic and acquisition strategies.  REIT Watch is a weekly column on The Business Times, <a href="https://www.businesstimes.com.sg/companies-markets/heavy-trading-in-new-s-reit-inclusions-in-global-reit-benchmark">read</a><a href="https://www.businesstimes.com.sg/companies-markets/10-s-reits-yielding-long-term-annualised-returns"> </a>the original version.
</body></html>


      
    
    FTSE EPRA


On Sept 1, FTSE Russell announced that 11 SGX-listed Reits &amp; Property Trusts, with market capitalisation ranging from S$2.6 billion to S$1.1 billion, entered the FTSE EPRA Nareit Global Developed Index after its quarterly index review.

This followed from a change in index rules announced in June 2021, which lowered the inclusion market cap threshold for the Developed Asia series from 0.3 to 0.1 per cent.

A total of 24 Reits were added into the FTSE EPRA Nareit Global Developed Index following the review, including seven from Australia, two from Hong Kong, three from Japan, one from New Zealand and 11 from Singapore.

The FTSE EPRA Nareit Global Real Estate Index Series, designed to represent general trends in eligible real estate equities worldwide, is a widely followed global benchmark with an estimated US$340 billion of assets under management actively benchmarked or passively tracking the indices.  
As of June 2021, there were 23 SGX-listed real estate related equities in the index series, which included 19 S-Reits.  
The recent index review will bring the total number of SGX-listed Reits in the index series to 30, with a combined market capitalisation of S$108 billion.

After the announcement, the 11 new inclusions saw a boost in trading activities on Sept 2, with a 353 per cent increase in traded value compared to their 12-month total average daily traded value (ADTV).

The three S-REITs which saw the biggest increase in ADTV on 2 Sep were ARA LOGOS Logistics Trust (+541 per cent), Starhill Global REIT (+431 per cent) and SPH REIT (+426 per cent), while the three S-REITs which saw the largest price jumps on 2 Sep were ESR-REIT (+8.5 per cent), ARA LOGOS Logistics Trust (+6.1 per cent) and OUE Commercial REIT (+6.1 per cent).

ARA Logos Logistics Trust (ALOG), with year-to-date total returns of 65.5 per cent, is among the best performing S-Reit this year.

Karen Lee, chief executive officer of ARA Logos Logistics Trust's (ALOG) manager, commented that ALOG's entry into the index will not only enhance ALOG's trading liquidity and extend its institutional investor reach but will also further strengthen ALOG's growth story.

Similarly, Adrian Chui, chief executive officer and executive director of ESR-Reit's manager, noted that the inclusion in the index will enhance the Reit's trading liquidity and visibility to investors worldwide, solidifying its position among listed industrial Reits in Singapore and providing access to wider pools of capital as ESR-Reit executes organic and acquisition strategies.   REIT Watch is a weekly column on The Business Times, read the original version.



REIT Watch - Heavy trading in new S-Reit inclusions in global Reit benchmark

Olam, Frencken, YZJ, First Resources & UMS Led Most Actives in August

Singapore

SPH REIT is a Singapore-based REIT established principally to invest, directly or indirectly, in a portfolio of income-producing real estate which is used primarily for retail purposes in Asia-Pacific, as well as real estate-related assets.

Parkway Life Real Estate Investment Trust (Parkway Life REIT) invests primarily in income producing real estate and real estate related assets in the Asia Pacific region. The trust's real estate is used primarily for healthcare and healthcare-related purposes.

OUE Commercial Real Estate Investment Trust (“OUE C-REIT”) is one of the largest diversified Singapore REITs (“S-REITs”) with total assets of S$6.0 billion as at 31 December 2022. With seven properties across the commercial and hospitality segments in Singapore and Shanghai, the property portfolio comprises more than 2.1 million square feet of prime office and retail space, and 1,643 upper upscale hotel rooms.

OUE C-REIT invests in income-producing real estate used primarily for commercial purposes (including real estate used primarily for office and/or retail purposes) in financial and business hubs, hospitality and/or hospitality-related purposes, as well as real estate-related assets.

Fortune REIT is a real estate investment trust that invests in a portfolio of retail shopping malls located in Hong Kong.

CDL Hospitality Trusts is a stapled group compromising H-REIT and HBT. H-REIT is a real estate investment trust that invest in a portfolio of income-producing properties and HBT is a business trust.

Starhill Global REIT is a real estate investment trust.  The trust invests in retail and office buildings in Singapore and overseas.

Far East Hospitality Trust is a hospitality stapled group comprising Far East H-REIT and Far East H-BT. Far East H-REIT is a Singapore-based real estate investment trust, which invests in hospitality assets and Far East H-BT, a Singapore-based business trust which will be dormant as of the Listing Date.

Cromwell Real Estate Investment Trust is a real estate investment trust with a commercial portfolio of offices and light industrial /  logistics assets across Europe.

Keppel DC REIT is Asia's first pure-play data centre REIT listed on the Singapore Exchange. Keppel DC REIT's investment strategy is to principally invest, directly or indirectly, in a diversified portfolio of income-producing real estate assets which are used primarily for data centre purposes, as well as real estate related assets.

Suntec Real Estate Investment Trust is a commercial real estate investment trust. The Trust invests in income-producing real estate that is primarily used for retail and/or office purposes.

MORI HILLS REIT INVESTMENT CORPORATION is a real estate investment trust (REIT). The Company invests in real estate properties such as commercial and office buildings.

Mori Hills REIT Investment Corporation (3234 JP)

Retail Opportunity Investments Corp. is a fully integrated and self-managed real estate investment trust ("REIT").  The Company specializes in the acquisition, ownership and management of necessity-based community, and neighborhood shopping centers in the western and eastern regions of the United States anchored by national and regional supermarkets and drugstores.

Retail Opportunity Investments Corp. (ROIC US)

American Assets Trust Inc. is a full service, vertically integrated and self-administered real estate investment trust, or REIT. The Company owns, operates, acquires and develops retail and office properties in markets primarily in Southern California, Northern California and Hawaii.

Comforia Residential REIT, Inc. is a real estate investment trust (REIT). The company invests in leasing city apartments mainly in Tokyo area.

MORI TRUST Sogo Reit, Inc. is a real estate investment trust (REIT), which invests in income producing properties.  The Company mainly invests in office buildings in metropolitan area and local cities.

Getty Realty Corporation owns and leases properties in the Northeastern and Middle Atlantic states. These properties, consisting of service stations, convenience stores and petroleum marketing terminals are leased to Getty Petroleum Marketing Inc. Getty Realty Holding is also a marketer of heating oil in Pennsylvania and Maryland.

Activia Properties, Inc. is a real estate investment trust (J-REIT). The company mainly invests in commercial and office buildings in the Tokyo metropolitan area.

DiamondRock Hospitality Company is a self-advised real estate investment trust. The Company owns, acquires, and invests in upper scale and upscale hotel properties located in North America.  DiamondRock also invests in premium limited-service and extended-stay hotel properties in urban locations.

RLJ Lodging Trust is a self-advised and self-administered Maryland real estate investment trust. The Trust invests primarily in premium-branded, focused-service and compact full-service hotels. RLJ Lodging owns hotels in multiple states and the District of Columbia.

Empire State Realty Trust Inc. is a real estate investment trust. The trust owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area.

ESR-LOGOS Real Estate Investment Trust (“ESR-LOGOS REIT”) is a leading New Economy and future-ready Asia Pacific S-REIT. Listed on the Singapore Exchange Securities Trading Limited since 25 July 2006, ESR-LOGOS REIT invests in quality income-producing industrial properties in key gateway markets.

As at 28 April 2022, ESR-LOGOS REIT holds interests in a diversified portfolio of logistics properties, high-specifications industrial properties, business parks and general industrial properties with total assets of approximately S$5.5 billion. Its portfolio comprises 84 properties located across the developed markets of Singapore (63 assets) and Australia (21 assets), with a total gross floor area of approximately 2.4 million sqm, as well as investments in three property funds in Australia. ESR-LOGOS REIT is also a constituent of the FTSE EPRA Nareit Global Real Estate Index. 

ESR-LOGOS REIT is managed by ESR-LOGOS Funds Management (S) Limited (the “Manager”) and sponsored by the ESR Group (“ESR”). The Manager is owned by ESR (67.3%), Shanghai Summit Pte. Ltd. (25.0%), and Mitsui & Co., Ltd (7.7%), respectively.

For further information on ESR-LOGOS REIT, please visit www.esr-logosreit.com.sg.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

ESR-LOGOS REIT (EREIT SP)

ASEAN Builder's Scoop (15Oct21)

EREIT/ALLT merger, DPU accretive for both unitholders; AAREIT strong quarter, Upgrade to BUY; Porcelain Hotel on sale for S$90m; WCTHG mixed-use...

SCCM Asia Research

REIT Watch - Third quarter wrap sees institutional investors return to S-Reits

The iEdge S-REIT Index ended the third quarter of 2021 relatively flat with 0.2 per cent total returns, in line with global...

Singapore Exchange Ltd (SGX)

Frencken, iFAST & First Resources Among Most Consistent Gainers in 3Q21

With 3Q21 to conclude on Thursday, this is the STI’s narrowest quarterly trading range since 3Q17, with a 6% difference between the quarterly...

Singapore Exchange Ltd (SGX)

REIT Watch - Heavy trading in new S-Reit inclusions in global Reit benchmark

On Sept 1, FTSE Russell announced that 11 SGX-listed Reits & Property Trusts, with market capitalisation ranging from S$2.6...

Singapore Exchange Ltd (SGX)

Olam, Frencken, YZJ, First Resources & UMS Led Most Actives in August

Singapore’s 100 most traded stocks over the past eight months represent 70% of the total market value of all stocks listed on the exchange....

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)