External broker reports(aggregated public sources), KGI Securities Singapore

KGI Securities

External broker reports(aggregated public sources)

KGI Securities Singapore

We are a pioneer Securities & Derivatives, Trading and Clearing Member of Singapore Exchange as well as a pioneer member of ICE Futures Singapore & ICE Clear Singapore. We offer our valued clients round the clock (24 hour) single-touch point for multi-asset clients and 24 hour high-touch desk for global products. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Record FY23 earnings showcase strong consumer demand. Consumer demand stays resilient across Food Empire Holdings’ key markets despite ongoing geopolitical tensions worldwide, alongside a high interest rate environment.</li><li>Demand for coffee and tea remained strong across company’s all key markets, seeing volume growth YoY.</li><li>Russia saw a slight decline in revenue mainly due to the continued depreciation of the Russian Ruble against the US dollar</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Record FY23 earnings showcase strong consumer demand. Consumer demand stays resilient across Food Empire Holdings’ key markets despite ongoing geopolitical tensions worldwide, alongside a high interest rate environment.Demand for coffee and tea remained strong across company’s all key markets, seeing volume growth YoY.Russia saw a slight decline in revenue mainly due to the continued depreciation of the Russian Ruble against the US dollarContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Food Empire Holdings Ltd. - Soaring to New Heights

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.

<ul><li>While Singapore's exports have lagged behind Taiwan and Korea in Nov-Dec 2023, they have showed signs of recovery after a year of steep drops.</li><li>External factors also affect the prospects of the iEdge SG Advanced Manufacturing Index's most traded stocks.</li><li>Some of the most traded index stocks, such as Yangzijiang Shipbuilding, Dyna-Mac and Food Empire, have high P/B ratios compared to their historical averages, indicating strong market valuation.</li></ul>

While Singapore's exports have lagged behind Taiwan and Korea in Nov-Dec 2023, they have showed signs of recovery after a year of steep drops.External factors also affect the prospects of the iEdge SG Advanced Manufacturing Index's most traded stocks.Some of the most traded index stocks, such as Yangzijiang Shipbuilding, Dyna-Mac and Food Empire, have high P/B ratios compared to their historical averages, indicating strong market valuation.

Taking Stock of Singapore’s Trade Contraction in 2023 

ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Cross Asset Strategy

<ul>
<li>The past week saw insights on <a href="https://www.smartkarma.com/entities/ace-hardware-indonesia" target="_blank" data-smartkarma-citation="entities:12808:1" rel="noopener">Ace Hardware Indonesia (ACES IJ)</a>, <a href="https://www.smartkarma.com/entities/prodia-widyahusada" target="_blank" data-smartkarma-citation="entities:23663:1" rel="noopener">Prodia (PRDA IJ)</a>, <a href="https://www.smartkarma.com/entities/erajaya-swasembada-tbk-pt" target="_blank" data-smartkarma-citation="entities:18869:1" rel="noopener">Erajaya Swasembada (ERAA IJ)</a>, and <a href="https://www.smartkarma.com/entities/pt-barito-renewables-energy-tbk" target="_blank" data-smartkarma-citation="entities:40150:1" rel="noopener">Barito Renewables Energy (BREN IJ)</a>. </li>
<li>There was also a macro insight on Indonesia macro, as BI elected to keep interest rates on hold, and an insight looking at Saingapore's biggest movers in 2Q2024. </li>
<li>The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across Southeast Asia.</li>
</ul>


The past week saw insights on Ace Hardware Indonesia (ACES IJ), Prodia (PRDA IJ), Erajaya Swasembada (ERAA IJ), and Barito Renewables Energy (BREN IJ). 
There was also a macro insight on Indonesia macro, as BI elected to keep interest rates on hold, and an insight looking at Saingapore's biggest movers in 2Q2024. 
The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across Southeast Asia.


The Week That Was in ASEAN@Smartkarma - Prodia's Cure, Ace Hardware, and Erajaya's Growing Volumes

Yoma Strategic Holdings / Equity Bottom-Up

<ul><li>As of 20 June, the FTSE ST All-Share Index generated a 3.9% total return in 2Q24, outpacing the FTSE Asia Pacific Index (+2.7%) and FTSE ASEAN All-Share Index (-1.9%).</li><li>The 10 strongest performers of the FTSE ST All-Share Index in 2Q24 (to 20 June) averaged 37% total returns, and were led by Yoma Strategic, Samudera Shipping and Yangzijiang Shipbuilding.</li><li>On the other side of the FTSE ST All-Share Index constituent performances, Food Empire Holdings has declined 19% in 2Q24 (to 20 June), reducing its total return since the end of 2019 to 95%.</li></ul>

As of 20 June, the FTSE ST All-Share Index generated a 3.9% total return in 2Q24, outpacing the FTSE Asia Pacific Index (+2.7%) and FTSE ASEAN All-Share Index (-1.9%).The 10 strongest performers of the FTSE ST All-Share Index in 2Q24 (to 20 June) averaged 37% total returns, and were led by Yoma Strategic, Samudera Shipping and Yangzijiang Shipbuilding.On the other side of the FTSE ST All-Share Index constituent performances, Food Empire Holdings has declined 19% in 2Q24 (to 20 June), reducing its total return since the end of 2019 to 95%.

Singapore’s Biggest Index Movers in 2Q24 

<ul><li>Actively traded high-turnover stocks in 2023 YTD This year, close to a quarter of Singapore’s 100 most actively traded stocks have registered double-digit percentage growth in daily trading turnover from their respective 2022 levels.</li><li>This saw the stock rank among the 85 most traded stocks so far this year, after ranking just outside the 170 most traded stocks in 2022.</li></ul>

Actively traded high-turnover stocks in 2023 YTD This year, close to a quarter of Singapore’s 100 most actively traded stocks have registered double-digit percentage growth in daily trading turnover from their respective 2022 levels.This saw the stock rank among the 85 most traded stocks so far this year, after ranking just outside the 170 most traded stocks in 2022.

Vibrant activity among top traded stocks on SGX

Singapore

Food Empire Holdings Limited manufactures and markets instant beverage products, frozen convenience food, confectionery and snack food. The Company exports its products to markets such as Russia, Eastern Europe, Central Asia, the Middle East and Indochina.

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Food Empire Holdings (FEH SP)

Food Empire Holdings Ltd. - Soaring to New Heights

Record FY23 earnings showcase strong consumer demand. Consumer demand stays resilient across Food Empire Holdings’ key markets despite ongoing...

KGI Securities

Taking Stock of Singapore’s Trade Contraction in 2023

While Singapore's exports have lagged behind Taiwan and Korea in Nov-Dec 2023, they have showed signs of recovery after a year of steep...

Singapore Exchange Ltd (SGX)

The Week That Was in ASEAN@Smartkarma - Prodia's Cure, Ace Hardware, and Erajaya's Growing Volumes

The past week saw insights on Ace Hardware Indonesia (ACES IJ), Prodia (PRDA IJ), Erajaya Swasembada (ERAA IJ), and Barito Renewables Energy (BREN...

Angus Mackintosh

Singapore’s Biggest Index Movers in 2Q24

As of 20 June, the FTSE ST All-Share Index generated a 3.9% total return in 2Q24, outpacing the FTSE Asia Pacific Index (+2.7%) and FTSE ASEAN...

Singapore Exchange Ltd (SGX)

Vibrant activity among top traded stocks on SGX

Actively traded high-turnover stocks in 2023 YTD This year, close to a quarter of Singapore’s 100 most actively traded stocks have registered...

Singapore Exchange Ltd (SGX)

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