Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Mapletree Pan Asia Commercial Trust / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mapletree-commercial-trust" target="_blank" data-smartkarma-citation="entities:106:1" rel="noopener">Mapletree Commercial Trust (MCT SP)</a> and <a href="https://www.smartkarma.com/entities/mapletree-north-asia-commercial-trust" target="_blank" data-smartkarma-citation="entities:5127:1" rel="noopener">Mapletree North Asia Commercial Trust (MAGIC SP)</a> announced their prospective merger on Friday. </li>
<li>The merger ratio provides an uplift to already strong recent relative performance for MAGIC holders, and strong pro-forma NAV and DPU accretion for MCT holders. </li>
<li>And it means a lot of flow. Lots and lots of flow. </li>
</ul>



Mapletree Commercial Trust (MCT SP) and Mapletree North Asia Commercial Trust (MAGIC SP) announced their prospective merger on Friday. 
The merger ratio provides an uplift to already strong recent relative performance for MAGIC holders, and strong pro-forma NAV and DPU accretion for MCT holders. 
And it means a lot of flow. Lots and lots of flow. 


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>Over the five trading sessions from Dec 6 to Dec 12, institutions were net sellers of Singapore stocks, leading to a net institutional outflow of S$104 million, reversing a quarter of the S$418 million net inflow over the preceding five sessions.</li><li>Stocks that led the net institutional outflow over the five sessions through to Dec 12 were DBS Group Holdings, Capitaland Investment, SATS, Singapore Exchange, Mapletree Industrial Trust, Capitaland Integrated Comm Trust, Genting Singapore, Capitaland Ascendas REIT, Singapore Telecommunications and Mapletree Pan Asia Commercial Trust.</li><li>The five trading sessions saw more than 50 director interests and substantial shareholdings filed for close to 25 primary-listed stocks.</li></ul>

Over the five trading sessions from Dec 6 to Dec 12, institutions were net sellers of Singapore stocks, leading to a net institutional outflow of S$104 million, reversing a quarter of the S$418 million net inflow over the preceding five sessions.Stocks that led the net institutional outflow over the five sessions through to Dec 12 were DBS Group Holdings, Capitaland Investment, SATS, Singapore Exchange, Mapletree Industrial Trust, Capitaland Integrated Comm Trust, Genting Singapore, Capitaland Ascendas REIT, Singapore Telecommunications and Mapletree Pan Asia Commercial Trust.The five trading sessions saw more than 50 director interests and substantial shareholdings filed for close to 25 primary-listed stocks.

<ul><li>Over the five trading sessions from Nov 1 to 7, institutions were net sellers of Singapore stocks, resulting in a net institutional outflow of S$141 million.</li><li>Stocks that led the net institutional outflow over those five sessions were OCBC, Capitaland Ascendas Reit, CapitaLand Integrated Commercial Trust, Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust, UOB, Frasers Centrepoint Trust, Suntec Reit, Frasers Logistics & Commercial Trust and Keppel.</li><li>Notably, in the November 2024 rebalance, Singapore stands out as the only Asia developed market with a net increase in MSCI Standard Index constituents.</li></ul>

Over the five trading sessions from Nov 1 to 7, institutions were net sellers of Singapore stocks, resulting in a net institutional outflow of S$141 million.Stocks that led the net institutional outflow over those five sessions were OCBC, Capitaland Ascendas Reit, CapitaLand Integrated Commercial Trust, Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust, UOB, Frasers Centrepoint Trust, Suntec Reit, Frasers Logistics & Commercial Trust and Keppel.Notably, in the November 2024 rebalance, Singapore stands out as the only Asia developed market with a net increase in MSCI Standard Index constituents.

SIA Engineering resumes buybacks after reporting H1 FY2025 results

<ul><li>Institutions were net sellers of Singapore stocks over the five trading sessions spanning Sep 20 to 26, with S$54 million of net institutional outflow, reducing total net inflows from the 20 trading sessions spanning Aug 30 (which included MSCI Index rebalancing) through to Sep 26, to S$1.165 billion.</li><li>Leading the net institutional outflow over the five sessions through to Sep 26 were Singapore Telecommunications, Yangzijiang Shipbuilding Holdings, CapitaLand Investment, Singapore Exchange, Mapletree Logistics Trust, Capitaland Ascendas REIT, City Developments, Jardine Cycle & Carriage, Frasers Logistics & Commercial Trust and Mapletree Industrial Trust.</li><li>Between Sep 24 and 25, Raffles Medical Group executive chairman Loo Choon Yong acquired 2.15 million shares at S$0.89 per share.</li></ul>

Institutions were net sellers of Singapore stocks over the five trading sessions spanning Sep 20 to 26, with S$54 million of net institutional outflow, reducing total net inflows from the 20 trading sessions spanning Aug 30 (which included MSCI Index rebalancing) through to Sep 26, to S$1.165 billion.Leading the net institutional outflow over the five sessions through to Sep 26 were Singapore Telecommunications, Yangzijiang Shipbuilding Holdings, CapitaLand Investment, Singapore Exchange, Mapletree Logistics Trust, Capitaland Ascendas REIT, City Developments, Jardine Cycle & Carriage, Frasers Logistics & Commercial Trust and Mapletree Industrial Trust.Between Sep 24 and 25, Raffles Medical Group executive chairman Loo Choon Yong acquired 2.15 million shares at S$0.89 per share.

Raffles Medical executive chairman expands interest; First REIT independent director cashes in

<ul><li>Institutions were net buyers of Singapore stocks over the five trading sessions spanning Aug 16 to 22, with S$184.7 million of net institutional inflow.</li><li>Leading the net institutional inflow were DBS, Singapore Exchange (SGX), Sats, UOB, Jardine Cycle & Carriage, Seatrium, Mapletree Industrial Trust, OCBC, Singtel and Singapore Technologies Engineering.</li><li>Between Aug 15 and 16, Wee Investments acquired two million shares of UOL at an average price of S$5.21 per share.</li></ul>

Institutions were net buyers of Singapore stocks over the five trading sessions spanning Aug 16 to 22, with S$184.7 million of net institutional inflow.Leading the net institutional inflow were DBS, Singapore Exchange (SGX), Sats, UOB, Jardine Cycle & Carriage, Seatrium, Mapletree Industrial Trust, OCBC, Singtel and Singapore Technologies Engineering.Between Aug 15 and 16, Wee Investments acquired two million shares of UOL at an average price of S$5.21 per share.

Director acquisitions rebound after earnings reporting season

Singapore

Mapletree Industrial Trust is a Singapore-focused real estate investment trust with a large and diversified portfolio of industrial properties. The Trust invests in a diverse portfolio of industrial properties with the primary objective of achieving an attractive level of return from rental income and for long-term capital growth.

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Mapletree Industrial Trust (MINT SP)

Mapletree Mega-Merger Means MCT Markup

The proposed Mapletree Commercial Trust and Mapletree North Asian Commercial Trust combination creates a Top 10 Asian REIT and one of Singapore's...

Travis Lundy

Tuan Sing CEO and director add to stakes

Over the five trading sessions from Dec 6 to Dec 12, institutions were net sellers of Singapore stocks, leading to a net institutional outflow of...

Singapore Exchange Ltd (SGX)

SIA Engineering resumes buybacks after reporting H1 FY2025 results

Over the five trading sessions from Nov 1 to 7, institutions were net sellers of Singapore stocks, resulting in a net institutional outflow of...

Singapore Exchange Ltd (SGX)

Raffles Medical executive chairman expands interest; First REIT independent director cashes in

Institutions were net sellers of Singapore stocks over the five trading sessions spanning Sep 20 to 26, with S$54 million of net institutional...

Singapore Exchange Ltd (SGX)

Director acquisitions rebound after earnings reporting season

Institutions were net buyers of Singapore stocks over the five trading sessions spanning Aug 16 to 22, with S$184.7 million of net institutional...

Singapore Exchange Ltd (SGX)

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