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>Schedule of S-REITs & Property Trusts Earnings or Business Updates ParkwayLife REIT 16-Oct After Market Business Update 18-Oct Before Market Business Update  CapitaLand Integrated Commercial Trust 5-Nov Before Market Business Update 5-Nov Before Market Business Update 5-Nov Before Market Financial Results.</li></ul>

Schedule of S-REITs & Property Trusts Earnings or Business Updates ParkwayLife REIT 16-Oct After Market Business Update 18-Oct Before Market Business Update  CapitaLand Integrated Commercial Trust 5-Nov Before Market Business Update 5-Nov Before Market Business Update 5-Nov Before Market Financial Results.

REIT Watch – S-REITs announce their schedule for upcoming earnings season

<ul><li>Sabana Industrial REIT reported a 26.5% year-on-year growth in 1Q25 DPU, with NPI and gross revenue increasing by 22.0% and 4.6% respectively.</li><li>Keppel DC REIT achieved a 14.2% year-on-year growth in DPU, driven by acquisitions and contract renewals, with NPI and gross revenue growing 24.1% and 22.6% respectively.</li><li>Keppel Pacific Oak US REIT experienced a 19.3% year-on-year decline in income available for distribution due to lower rental income.</li></ul>

Sabana Industrial REIT reported a 26.5% year-on-year growth in 1Q25 DPU, with NPI and gross revenue increasing by 22.0% and 4.6% respectively.Keppel DC REIT achieved a 14.2% year-on-year growth in DPU, driven by acquisitions and contract renewals, with NPI and gross revenue growing 24.1% and 22.6% respectively.Keppel Pacific Oak US REIT experienced a 19.3% year-on-year decline in income available for distribution due to lower rental income.

S-REITs kick off earnings season; Sabana REIT and Keppel DC REIT report double-digit jump in DPU so far

Mapletree Pan Asia Commercial Trust / Equity Bottom-Up

<ul><li>Institutional investors rotated into S-REITs with S$26 million net inflows on April 3 amid market volatility.</li><li>S-REITs ended Q1 2025 with 2.8% total returns, driven by a 5.0% price gain in March.</li><li>Franklin Resources acquired 5.06% interest in Digital Core REIT, buying 969,800 units at US$0.577 each.</li></ul>

Institutional investors rotated into S-REITs with S$26 million net inflows on April 3 amid market volatility.S-REITs ended Q1 2025 with 2.8% total returns, driven by a 5.0% price gain in March.Franklin Resources acquired 5.06% interest in Digital Core REIT, buying 969,800 units at US$0.577 each.

REIT Watch - S-REITs record net institutional inflows in March as sector snaps 5-month losing streak

Capitaland India Trust / Equity Bottom-Up

<ul><li>Keppel DC REIT's FY2024 net property income rose 6.3% to S$260.3 million, with DPU increasing 0.7% to S$0.09451.  </li><li>Digital Core REIT's FY2024 distributable income rose 10.9% to US$46.0 million, driven by robust cloud and AI demand.  </li><li>Mapletree Industrial Trust's third-quarter FY2024 DPU increased 1.5%, with growth from Osaka Data Centre and Tokyo facility acquisition.</li></ul>

Keppel DC REIT's FY2024 net property income rose 6.3% to S$260.3 million, with DPU increasing 0.7% to S$0.09451.  Digital Core REIT's FY2024 distributable income rose 10.9% to US$46.0 million, driven by robust cloud and AI demand.  Mapletree Industrial Trust's third-quarter FY2024 DPU increased 1.5%, with growth from Osaka Data Centre and Tokyo facility acquisition.

REIT Watch – Data Centre S-REITs report growth in latest results

<ul><li>Retail investors have been net buyers of real estate investment trust (S-REITs) in 2024 amid volatile performance for the sector during the year.</li><li>These investors net bought some S$1.6 billion across the sector in 2024, bringing their total net inflows into S-REITs over the past five years to over S$6 billion.</li><li>Across the broader Singapore market, the REIT sector was also the sector with the highest net retail inflows in 2024, followed by Real Estate (excluding REITs), which saw around S$400 million in net inflows.</li></ul>

Retail investors have been net buyers of real estate investment trust (S-REITs) in 2024 amid volatile performance for the sector during the year.These investors net bought some S$1.6 billion across the sector in 2024, bringing their total net inflows into S-REITs over the past five years to over S$6 billion.Across the broader Singapore market, the REIT sector was also the sector with the highest net retail inflows in 2024, followed by Real Estate (excluding REITs), which saw around S$400 million in net inflows.

REIT Watch - Larger S-Reits rank among those with highest net retail inflows in 2024

Singapore

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.

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

Keppel DC REIT (KDCREIT SP)

REIT Watch – S-REITs announce their schedule for upcoming earnings season

Schedule of S-REITs & Property Trusts Earnings or Business Updates ParkwayLife REIT 16-Oct After Market Business Update 18-Oct Before Market...

Singapore Exchange Ltd (SGX)

S-REITs kick off earnings season; Sabana REIT and Keppel DC REIT report double-digit jump in DPU so far

Sabana Industrial REIT reported a 26.5% year-on-year growth in 1Q25 DPU, with NPI and gross revenue increasing by 22.0% and 4.6%...

Singapore Exchange Ltd (SGX)

REIT Watch - S-REITs record net institutional inflows in March as sector snaps 5-month losing streak

Institutional investors rotated into S-REITs with S$26 million net inflows on April 3 amid market volatility. S-REITs ended Q1 2025 with 2.8%...

Singapore Exchange Ltd (SGX)

REIT Watch – Data Centre S-REITs report growth in latest results

Keppel DC REIT's FY2024 net property income rose 6.3% to S$260.3 million, with DPU increasing 0.7% to S$0.09451. Digital Core REIT's FY2024...

Singapore Exchange Ltd (SGX)

REIT Watch - Larger S-Reits rank among those with highest net retail inflows in 2024

Retail investors have been net buyers of real estate investment trust (S-REITs) in 2024 amid volatile performance for the sector during the...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)