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

Established in 1996, Boustead Projects Limited is a leading industrial real estate solutions provider in Singapore, with core engineering expertise in the design–and–build and development of industrial facilities for multinational corporations and local enterprises. It has constructed and developed over 3 million sqm of industrial real estate in Singapore, China, Malaysia and Vietnam to-date. Boustead Projects is a 53%-owned subsidiary of Boustead Singapore.

Established in 1996, Boustead Projects Limited is a leading industrial real estate solutions provider in Singapore, with core engineering expertise in the design–and–build and development of industrial facilities for multinational corporations and local enterprises. It has constructed and developed over 3 million sqm of industrial real estate in Singapore, China, Malaysia and Vietnam to-date. Boustead Projects is a 53%-owned subsidiary of Boustead Singapore.

10 in 10 Boustead Projects Limited - Developing Tomorrow, Today

Partner, River Valley Asset Management

River Valley Asset Management

Partner

Singapore-based boutique asset management firm

River Valley Asset Management is a Singapore-based boutique asset management firm. Our team at RVAM strongly believes in being a trusted steward of our clients' wealth across generations.

Each of our fund managers has years of rich portfolio management experience over multiple market cycles at world-class investment houses. We bring our clients the combined strength of our investment team to manage their financial portfolios and to provide bespoke guidance on all aspects of their financial health.

We offer multi-asset class expert investment advice to accredited investors who are family offices, high net worth individuals and institutional investors to preserve and grow our clients' wealth.

The fund management team of the company includes Homiyar Vasania, Anand Ramachandran and Jamshed Desai.

MSCI AC Asia Pacific Excluding Japan Index / ESG

MSCI AC Asia Pacific Excluding Japan Index

All investments involve some degree of risk. In finance, risk refers to the degree of uncertainty and/or potential financial loss inherent in an investment decision. When making decisions we evaluate a variety of risks, business, economic, volatility, etc. Among them, regulatory risk is one of the most difficult ones to always get a grip on, across countries. Regulatory risks which many a times comes out of sharp changes in Government policy, are often unforeseen or least expected. Such risks often include seemingly and irrationally high unexpected doses of taxation, investors are caught blindsided, wondering how they could have missed handicapping such an event when building their investment case.The outcome of such actions often precipitates a violent reaction in the stock price of companies directly impacted, giving investors no time to respond or react when the first stab of price action happens. These are the proverbial bolts from the blue, that knock the stuffing out of stock prices for quite some time before some recover their pose, while many don’t for years. As markets enter phases of rising volatility, the risks of stock taking knocks from unexpected actions rise and we have seen quite a few this year. Our piece this month is inspired by some of these.

All investments involve some degree of risk. In finance, risk refers to the degree of uncertainty and/or potential financial loss inherent in an investment decision. When making decisions we evaluate a variety of risks, business, economic, volatility, etc. Among them, regulatory risk is one of the most difficult ones to always get a grip on, across countries. Regulatory risks which many a times comes out of sharp changes in Government policy, are often unforeseen or least expected. Such risks often include seemingly and irrationally high unexpected doses of taxation, investors are caught blindsided, wondering how they could have missed handicapping such an event when building their investment case.The outcome of such actions often precipitates a violent reaction in the stock price of companies directly impacted, giving investors no time to respond or react when the first stab of price action happens. These are the proverbial bolts from the blue, that knock the stuffing out of stock prices for quite some time before some recover their pose, while many don’t for years. As markets enter phases of rising volatility, the risks of stock taking knocks from unexpected actions rise and we have seen quite a few this year. Our piece this month is inspired by some of these. 

Malaysia

Westports Holdings Berhad provides port services. The Company offers container and cargo services, marine services, rental services and other ancillary services. Westports provides its services to the import and export industries.

Bintulu Port Holdings Berhad operates as a holding company. The Company, through its subsidiaries, provides port services. Bintulu Port Holdings serves customers in Malaysia.

Suria Capital Holdings Berhad is an investment holding and property development company.  The Company, through its subsidiaries, provides, maintains, regulates, and controls port services and facilities.

Lingkaran Trans Kota Holdings Berhad is an investment holding company.  The Company, through its subsidiaries, designs and constructs Lebuh Raya Damansara-Puchong and manages toll operations.  The Company also provides highway maintenance services.

Complete Logistic Services Bhd. is an investment holding company. The Company, through its subsidiaries, owns ships, provides marine transportation services, general trading, trading of freight, lorry and trucking services, and logistics.

Shin Yang Shipping Corp Bhd. provides shipping services. The Company provides domestic and international shipping services through its fleet of vessels.  The Company also builds and repairs ships and fabricates metal vessels.

GD Express Carrier Bhd offers package delivery services.  The Company delivers parcels by truck throughout Malaysia.

AirAsia X Berhad is a long-haul, low-cost airline based in Malaysia. The Company is an affiliate carrier of the AirAsia Group. AirAsia X offers flights on the Airbus A330-300 aircraft on routes beyond 4 hours flight duration across Asia Pacific and the Middle East.

Dialog Group Berhad is an investment holding company.  The Company, through its subsidiaries, provides engineering, procurement, construction and commissioning services, and plant maintenance services. Dialog also retails petroleum to oil, gas, and petrochemical industries, as well as markets specialty chemical and equipments.

Harbour-Link Group Berhad is an investment holding company and provides management service. The Company, through its subsidiaries, provides shipping, forwarding, and transportation services. Harbour-Link also operates plant and machinery renting business and provides engineering and civil works services.

Shenzhen Expressway Company Limited offers toll expressway and road construction and investment services. The Company provides expressway operation, maintenance, and service station leasing services. Shenzhen Expressway also conducts real estate development, advertising, and engineering consulting businesses.

Qube Holdings Ltd. is a logistics company. The Group operates in divisions covering Automotive, Bulk and General Stevedoring, Landside Logistics and Strategic Development Assets.

Zhejiang Expressway Co., Ltd., through its subsidiaries, designs, constructs, operates, and manages high grade roads, as well as develops and operates certain ancillary services, such as technical consultation, advertising, automobile servicing, and fuel facilities.

Guangzhou Baiyun International Airport Co., Ltd. operates the Guangzhou Baiyun International Airport and provides related transportation services, including ground, passenger, storage, airplane maintenance and repair, and other services.  The Company also provides food, space rental, and advertising services.

Guangzhou Baiyun International Airport (600004 CH)

Tangshan Port Group Co., Ltd. provides bulk cargo handling, transport, warehousing and other logistics business.  The Company also offers utilities, port information and other professional port services.

Japan Airport Terminal Co., Ltd. constructs, manages and maintains passenger terminals and airport facilities at Haneda and Narita airports.  The Company operates parking-lots, souvenir shops, and duty-free stores.  Japan Airport Terminal, through its subsidiaries, manages restaurants and in-flight meal services.

SATS Limited provides integrated ground handling and in-flight catering services at Singapore Changi Airport.  The Company also provides aviation security, airline laundry, and airport cargo delivery management services.

Hamburger Hafen und Logistik AG (HHLA) provides services to the port in the European North Range.  The Company's container terminals, transport systems, and logistic services provide a network between overseas port and European hinterland.

Hamburger Hafen und Logistik AG (HHFA GR)

Bangkok Expressway and Metro PCL is a transportation company. The Company combines toll and metro line networks. Bangkok Expressway and Metro is based in Thailand.

China Merchants Port Group Co., Ltd. offers port operation services. The Company mainly develops, operates, and manages ports. China Merchants Port Group also provides bonded logistics services.

Malaysia Airports Holdings Berhad is an investment holding company.  The Company, through its subsidiaries, provides management, maintenance, and operation of designated airports.  Malaysia Airports also operates duty-free and non-duty free stores as well as provides food and beverage outlets at the airports.

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Malaysia Airports Holdings (MAHB MK)

10 in 10 Boustead Projects Limited - Developing Tomorrow, Today

Established in 1996, Boustead Projects Limited is a leading industrial real estate solutions provider in Singapore, with core engineering expertise...

Singapore Exchange Ltd (SGX)

Bolts from the Blue

All investments involve some degree of risk. In finance, risk refers to the degree of uncertainty and/or potential financial loss inherent in an...

River Valley Asset Management

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