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.

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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

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 <img src='https://api2.sgx.com/sites/default/files/2022-01/Oceanus-CEO.jpg' alt='Oceanus - CEO' />
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 <div class='content-caption'>Oceanus - CEO</div>
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Entrepreneur Peter Koh always focuses on leading by example, because he believes that actions resonate more powerfully than words. 
“Your titles may gain you some form of respect, but people don’t follow your title, they follow courage,” said the Chief Executive Officer of SGX-listed food technology company Oceanus Group Ltd.  
“They follow a leader who will lead them and show them the path that is made of purpose.” 
And it was this pursuit of purpose - coupled with a leap of faith - that led Koh to join Oceanus as its CEO in December 2014, when the company was close to rock bottom. 
“At that time, Oceanus was on the brink of winding up after losing its entire abalone farm due to bad weather; it was on the path of defaulting on a debt of S$94 million. So why did I choose to join Oceanus at such a turbulent time? I guess it’s faith,” Koh recalled. 
“I wasn’t looking for a job then, I was looking to do something of purpose in life. Oceanus then had close to 10,000 shareholders, with the majority in their golden years. Many were in tears at the thought of losing their life savings, and I told myself that if I could turn the company around, it would bring hope to all these people.” 
This was what drove Koh to step up when few believed the company stood a chance. “To me, it was never a job, but a mission in life. I took up the challenge in December 2014, with a simple contract that had no upside incentives, but all the responsibilities of a listed company CEO. That remains to this day,” he added. 
Oceanus was placed on the SGX watch-list in December 2015, and was granted four extensions to exit that list. The Group finally did so after nearly six years, in September 2021. Transformation Journey 
It was a long and arduous journey back to profitability for the debt-ridden firm. “I started by staying in the abalone farm in China, living at ground zero so as to better understand the situation, and come to grips with the actual problems,” Koh recounted.  
“I then formulated a strategy for the company that comprised three phases, with each phase spanning three years - the Clean Up, the Build Up and the Tech Up. My focus in the first three years was getting Oceanus out of insolvency.” 
In recognition of his efforts and pivotal role in the Group’s successful restructuring, Koh was conferred the Outstanding CEO Award by Influential Brands in 2018.  
“The biggest highlight for me was when my shareholders hugged me and uttered a simple “Thank you” with tears rolling down their cheeks, after we successfully completed our first three-year plan to clean up the company,” he recalled. 
Koh, 56, has more than three decades of experience across multiple industries, including media, branding, manufacturing and environmental sustainability. 
His past and present directorships include PT Kertas Blabak, Indonesia’s fourth-largest recycled paper mill, Eagle Coin, a joint venture with China’s largest food manufacturer and state-owned enterprise, as well as Biolidics Ltd, a SGX-listed developer of medical devices. He was also appointed Investment Advisor to the Sino-Indian Conglomerate Ramky-Revo for their overseas investments. 
An active champion of social causes, Koh was conferred the Public Service Medal in 2014. 
Listed on SGX Mainboard since May 2008, Oceanus has transformed from a distressed company into a multi-product, multi-country organisation today, with a diverse business portfolio spanning Food Production, Distribution, Services and Innovation. 
“Since 2018, we’ve been committed to growing our business beyond a “one product, one country” scope, focusing on four pillars of growth - Food Production, Distribution, Services and Innovation,” Koh noted. 
“Over the years, Oceanus seamlessly transformed and diversified with these four pillars, creating multiple revenue streams for long-term sustainable growth. Our international footprint has expanded beyond Singapore and China, to a total of 13 offices in six countries. Now that we are on firmer footing, I will expect all these pillars to continue expanding at a faster pace.” 
Notwithstanding the devastating effects of COVID-19, Oceanus achieved its highest-ever turnover since listing in 2020. “This is testament to the success of our strategic diversification beyond aquaculture since 2018, and our business transformation,” Koh pointed out. 
“Through our four synergistic pillars, we’re able to reap cross-selling opportunities. These highly scalable business segments also create new revenue streams along the aquaculture and FMCG value chain, allowing us to enjoy economies of scale with long-term revenue visibility.” Opportunity in Crisis 
Looking ahead, the next leg of growth lies in the Group’s Tech Up phase. “As we embark on our digital transformation, we’re confident we’ll be able to enhance working synergies across our business pillars through technology,” Koh said. 
“I am now most excited about projects in the pipeline that will further cement Oceanus as a key global food security contributor, and also an important player in the e-commerce space. We expect these plans to come to fruition within the next two to three years,” he added. 
In November 2020, Oceanus unveiled plans to establish a foodtech hub in Hainan, China. The hub will leverage vertical farming technology, supplied by a deep-tech company, Universal Aquaculture, in which Oceanus has invested an undisclosed amount. 
Oceanus also plans to set up a blockchain-based digital food exchange to connect producers, distributors and retailers, in a bid to beef up food security. 
Koh believes there could be no clearer wake-up call for this urgent and critical issue than the impact of the COVID-19 pandemic. 
“I'm a strong advocate of what Winston Churchill said, “You never waste a crisis”. The pandemic has underscored the importance of local food production, not only in Singapore, but globally,” he said. 
“In 2020, despite production levels remaining the same, every country struggled with food security, as logistics and distribution networks were badly affected. Looking at the current world situation, food technology is no longer an aspiration - to me, it has become a necessity.” 
At the same time, finding the right talent - people who share the Group’s vision - is Koh’s biggest challenge.  
“We’re looking at tech companies, both in Singapore and in the region, which we can acquire and expand with. The target company will then not only service Oceanus’ needs, but also its external customers. This has been in line with our strategy since 2018.” 
Another imperative is ensuring proper corporate governance within the Group. “Especially coming from our turbulent history, we have a lot to prove to our stakeholders and partners that Oceanus is now an organisation that emphasises transparency, credibility and accountability,” Koh noted. 
“We started working on this by first ensuring that the board comprises various members that are not only astute in their roles, but also with a heart to drive Oceanus to greater heights. Looking at recent additions to our board, it’s evident that we’re well on that path.” 
Between 2018 and 2020, Oceanus added four Independent, Non-Executive Directors to its Board – Edward Loy, Eugen Chua, Yaacob Bin Ibrahim and Zahidi bin Abdul Rahman. 
For Koh, even when he is out of the office, his mind is constantly occupied with the business - new ways to challenge his team, fresh strategies to drive growth, or novel ways to solve existing problems. 
“Unfortunately, this constant churning of ideas goes late into the night. Since joining Oceanus, sleep has become a luxury for me. My concern is that 24 hours to a day is just not enough!” he said with a laugh. 
“That’s because at the end of the day, one should live without regrets - we only have one life, unlike cats!” Oceanus Group Ltd 
Listed on SGX Mainboard since May 2008, food tech company Oceanus has a diverse business portfolio spanning Food Production, Distribution, Services and Innovation. With the mission of building sustainability today for the security of tomorrow, Oceanus is digitalising its entire business model, which will drive supply chain innovation to strengthen food security.  
The company website is: <a href="http://oceanus.com.sg/">oceanus.com.sg</a> 
Click <a href="https://www.sgx.com/securities/equities/579">here </a>for the company's StockFacts page. 
For the six months ended 30 June 2021 financial results, click <a href="https://links.sgx.com/1.0.0/corporate-announcements/XY39F8DZJU71KXEI/678429_2021%201H%20Results%20.pdf">here</a>. 
 

About kopi-C: the Company brew

Text: Jennifer Tan-Stanisic Photo: Company file kopi-C is a regular column on the SGX Research website that features C-level executives of leading companies listed on Singapore Exchange. These interviews are profiles of senior management aimed at helping investors better understand the individuals who run these corporations. 
For previous editions of kopi-C: the Company brew, please click <a href="https://www.sgx.com/research-education/market-dialogues">here</a>.   
For more information, or if you would like your senior executives to be featured on SGX Market Dialogues, please send suggestions to <a href="https://www.sgx.com/jennifer.t@sgx.com">jennifer.t@sgx.com</a>.
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    Oceanus - CEO


Entrepreneur Peter Koh always focuses on leading by example, because he believes that actions resonate more powerfully than words.  
“Your titles may gain you some form of respect, but people don’t follow your title, they follow courage,” said the Chief Executive Officer of SGX-listed food technology company Oceanus Group Ltd.   
“They follow a leader who will lead them and show them the path that is made of purpose.”  
And it was this pursuit of purpose - coupled with a leap of faith - that led Koh to join Oceanus as its CEO in December 2014, when the company was close to rock bottom.  
“At that time, Oceanus was on the brink of winding up after losing its entire abalone farm due to bad weather; it was on the path of defaulting on a debt of S$94 million. So why did I choose to join Oceanus at such a turbulent time? I guess it’s faith,” Koh recalled.  
“I wasn’t looking for a job then, I was looking to do something of purpose in life. Oceanus then had close to 10,000 shareholders, with the majority in their golden years. Many were in tears at the thought of losing their life savings, and I told myself that if I could turn the company around, it would bring hope to all these people.”  
This was what drove Koh to step up when few believed the company stood a chance. “To me, it was never a job, but a mission in life. I took up the challenge in December 2014, with a simple contract that had no upside incentives, but all the responsibilities of a listed company CEO. That remains to this day,” he added.  
Oceanus was placed on the SGX watch-list in December 2015, and was granted four extensions to exit that list. The Group finally did so after nearly six years, in September 2021.  Transformation Journey  
It was a long and arduous journey back to profitability for the debt-ridden firm. “I started by staying in the abalone farm in China, living at ground zero so as to better understand the situation, and come to grips with the actual problems,” Koh recounted.   
“I then formulated a strategy for the company that comprised three phases, with each phase spanning three years - the Clean Up, the Build Up and the Tech Up. My focus in the first three years was getting Oceanus out of insolvency.”  
In recognition of his efforts and pivotal role in the Group’s successful restructuring, Koh was conferred the Outstanding CEO Award by Influential Brands in 2018.   
“The biggest highlight for me was when my shareholders hugged me and uttered a simple “Thank you” with tears rolling down their cheeks, after we successfully completed our first three-year plan to clean up the company,” he recalled.  
Koh, 56, has more than three decades of experience across multiple industries, including media, branding, manufacturing and environmental sustainability.  
His past and present directorships include PT Kertas Blabak, Indonesia’s fourth-largest recycled paper mill, Eagle Coin, a joint venture with China’s largest food manufacturer and state-owned enterprise, as well as Biolidics Ltd, a SGX-listed developer of medical devices. He was also appointed Investment Advisor to the Sino-Indian Conglomerate Ramky-Revo for their overseas investments.  
An active champion of social causes, Koh was conferred the Public Service Medal in 2014.  
Listed on SGX Mainboard since May 2008, Oceanus has transformed from a distressed company into a multi-product, multi-country organisation today, with a diverse business portfolio spanning Food Production, Distribution, Services and Innovation.  
“Since 2018, we’ve been committed to growing our business beyond a “one product, one country” scope, focusing on four pillars of growth - Food Production, Distribution, Services and Innovation,” Koh noted.  
“Over the years, Oceanus seamlessly transformed and diversified with these four pillars, creating multiple revenue streams for long-term sustainable growth. Our international footprint has expanded beyond Singapore and China, to a total of 13 offices in six countries. Now that we are on firmer footing, I will expect all these pillars to continue expanding at a faster pace.”  
Notwithstanding the devastating effects of COVID-19, Oceanus achieved its highest-ever turnover since listing in 2020. “This is testament to the success of our strategic diversification beyond aquaculture since 2018, and our business transformation,” Koh pointed out.  
“Through our four synergistic pillars, we’re able to reap cross-selling opportunities. These highly scalable business segments also create new revenue streams along the aquaculture and FMCG value chain, allowing us to enjoy economies of scale with long-term revenue visibility.”  Opportunity in Crisis  
Looking ahead, the next leg of growth lies in the Group’s Tech Up phase. “As we embark on our digital transformation, we’re confident we’ll be able to enhance working synergies across our business pillars through technology,” Koh said.  
“I am now most excited about projects in the pipeline that will further cement Oceanus as a key global food security contributor, and also an important player in the e-commerce space. We expect these plans to come to fruition within the next two to three years,” he added.  
In November 2020, Oceanus unveiled plans to establish a foodtech hub in Hainan, China. The hub will leverage vertical farming technology, supplied by a deep-tech company, Universal Aquaculture, in which Oceanus has invested an undisclosed amount.  
Oceanus also plans to set up a blockchain-based digital food exchange to connect producers, distributors and retailers, in a bid to beef up food security.  
Koh believes there could be no clearer wake-up call for this urgent and critical issue than the impact of the COVID-19 pandemic.  
“I'm a strong advocate of what Winston Churchill said, “You never waste a crisis”. The pandemic has underscored the importance of local food production, not only in Singapore, but globally,” he said.  
“In 2020, despite production levels remaining the same, every country struggled with food security, as logistics and distribution networks were badly affected. Looking at the current world situation, food technology is no longer an aspiration - to me, it has become a necessity.”  
At the same time, finding the right talent - people who share the Group’s vision - is Koh’s biggest challenge.   
“We’re looking at tech companies, both in Singapore and in the region, which we can acquire and expand with. The target company will then not only service Oceanus’ needs, but also its external customers. This has been in line with our strategy since 2018.”  
Another imperative is ensuring proper corporate governance within the Group. “Especially coming from our turbulent history, we have a lot to prove to our stakeholders and partners that Oceanus is now an organisation that emphasises transparency, credibility and accountability,” Koh noted.  
“We started working on this by first ensuring that the board comprises various members that are not only astute in their roles, but also with a heart to drive Oceanus to greater heights. Looking at recent additions to our board, it’s evident that we’re well on that path.”  
Between 2018 and 2020, Oceanus added four Independent, Non-Executive Directors to its Board – Edward Loy, Eugen Chua, Yaacob Bin Ibrahim and Zahidi bin Abdul Rahman.  
For Koh, even when he is out of the office, his mind is constantly occupied with the business - new ways to challenge his team, fresh strategies to drive growth, or novel ways to solve existing problems.  
“Unfortunately, this constant churning of ideas goes late into the night. Since joining Oceanus, sleep has become a luxury for me. My concern is that 24 hours to a day is just not enough!” he said with a laugh.  
“That’s because at the end of the day, one should live without regrets - we only have one life, unlike cats!”  Oceanus Group Ltd  
Listed on SGX Mainboard since May 2008, food tech company Oceanus has a diverse business portfolio spanning Food Production, Distribution, Services and Innovation. With the mission of building sustainability today for the security of tomorrow, Oceanus is digitalising its entire business model, which will drive supply chain innovation to strengthen food security.   
The company website is: oceanus.com.sg  
Click here for the company's StockFacts page.  
For the six months ended 30 June 2021 financial results, click here.  
 

About kopi-C: the Company brew

Text: Jennifer Tan-Stanisic Photo: Company file  kopi-C is a regular column on the SGX Research website that features C-level executives of leading companies listed on Singapore Exchange. These interviews are profiles of senior management aimed at helping investors better understand the individuals who run these corporations.  
For previous editions of kopi-C: the Company brew, please click here.    
For more information, or if you would like your senior executives to be featured on SGX Market Dialogues, please send suggestions to jennifer.t@sgx.com.



Oceanus Group Secures Future With Food Technology

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<li>
Singapore’s 30 most traded stocks that maintain manufacturing-related businesses have averaged a 29% YTD gain, with a less skewed median gain of 16%. While the 30 stocks make up 14% of the total market capitalisation of all SGX-listed stocks, they have contributed 25% to average daily turnover in the 2021 year to 2 February. 
	 </li>
	<li>
These 30 stocks span multiple Sectors such as Consumer Non-Cyclicals, Industrials, Healthcare, Materials &amp; Resources, in addition to Technology. Returns across the Sectors have been more balanced in the 2021 YTD, than in 2020 when Healthcare and Materials &amp; Resources led the group. 
	 </li>
	<li>Regional manufacturing activity has continued to be resilient in early 2021 with recent economic indicators showing broadening growth across the various Sectors. Supply chain efficiencies, rising commodity and food prices and consensus expectations for economic rebounds also impacted manufacturing stocks in recent months. </li>
</ul>
 
 Regional manufacturing activity has continued to be resilient in early 2021, with both supply and demand drivers contributing to relevant stock price performances over the past five weeks. In Singapore, the 30 most traded stocks in the 2021 year to 2 February that maintain manufacturing-related activities have averaged a 29% gain, with a less skewed median gain of 16%. These 30 businesses span multiple Sectors such as Consumer Non-Cyclicals (i.e. food and beverage processing &amp; products), Industrials, Healthcare, Materials and Resources, in addition to Technology. While demand for medical supplies and technology equipment have been the more entrenched drivers of the goods producing stocks, more recent catalysts include industrial supply chain efficiencies, rising commodity and food prices and expectations for economic rebounds, particularly in China. 
The 30 most traded Singapore-listed stocks with manufacturing-related activities include Wilmar International, Thai Beverage PCL, Sembcorp Marine, AEM Holdings, ISDN Holdings and Medtecs International Corporation. Food producers suchs as Japfa and SATS are also included amongst the Group. The group also includes China-based stocks such as Catalist-listed Jiutian Chemical Group and Mainboard-listed Sunpower Group, with the latter announcing yesterday it had won a RMB141 million (S$29.1 million) manufacturing and services contract from an existing customer in the polycrystalline silicon industry. Singapore’s Broader Manufacturing Sector Continued Rebound in January 
The Manufacturing Sector was an important contributor to the Singapore economy in 2020, with advanced estimates that the Sector grew 7.1% in 2020, rebounding from a 1.4% decline in 2019. As noted <a href="https://www.sgx.com/research-education/market-updates/20210105-manufacturing-growth-extended-stocks-2020">here</a>, Singapore’s most traded manufacturing-related stocks also generated comparatively strong average and median returns in 2020. The strategic importance of the Sector was again underscored on 25 January, with Singapore’s Trade and Industry Minister Chan Chun Sing announcing a new 10-year plan to grow Singapore's manufacturing sector by 50% and maintain its share of about 20% GDP. 
The SIPMM Purchasing Managing Index (“PMI”) rose 0.2 points to 50.7 in January, with seven straight months of expansion. Over the past three months, the two sub-indices of the SIPMM PMI which saw the most decline from January 2018 to October 2020, New Orders and Output have continued to increase. The sub-index for New Orders has risen to 51.1 in January, from 50.6 in October 2020. 
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<figure>
 <img src='https://api2.sgx.com/sites/default/files/2021-02/Capture_2.PNG' alt='SIPMM PMI' />
 </figure>
 <div class='content-caption'>SIPMM PMI</div>
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<html><body>Back in January 2018, the SIPMM PMI recorded its highest expansion since December 2009, which followed a strong year for the Singapore economy and was also the month that marked a key beachhead in the US-China trade tensions. At 51.0, the SIPMM Electronics PMI declined 0.2 points in January from a 27 month high in December 2020. The pick-up in broader manufacturing was also evident in the Industrial Production report for December released on 26 January. As illustrated below, aside from the growth of the Electronic and Semiconductor indices, the steady gains made by General Manufacturing, Petroleum and Transport Engineering are slowly disbanding the K-shape in the relative performances clearly evident from April through to August.</body></html>

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 <img src='https://api2.sgx.com/sites/default/files/2021-02/Capture_3.PNG' alt='Singapore Industrial Production Sub-Indices' />
 </figure>
 <div class='content-caption'>Singapore Industrial Production Sub-Indices</div>
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Broad 2021 YTD Gains Across Manufacturing-Related Industries  Singapore’s 30 most traded stocks with manufacturing-related activities maintain a combined market capitalisation of S$127 billion, and so far in 2021 have seen S$353 million in average daily turnover. This means the 30 stocks made up 14% of the total market capitalisation of all stocks listed on Singapore Exchange and 25% of the day-to-day turnover in the 2021 year to 2 February. 
As detailed in the table below, the Industrial stocks account for the most number of stocks among the group of 30, and also contributed the most to the S$353 million in average daily turnover. While the five healthcare-related stocks led the group in 2020, gains have been more balanced in the 2021 year to 2 February.

<table class="table table-striped"><tbody>
<tr>
<td>
			Sectors of 30 Most Traded Manufacturing-Related Stocks
			</td>
			<td>
			Number of Stocks
			</td>
			<td>
			Average 2020 Total Return %
			</td>
			<td>
			Average 2021 to 2 Feb Price Change %
			</td>
			<td>
			2021 to 2 Feb Average Daily Turnover S$M
			</td>
		</tr>
<tr>
<td>
			Consumer Non-Cyclicals
			</td>
			<td>
			8
			</td>
			<td>
			68%
			</td>
			<td>
			45%
			</td>
			<td>
			110
			</td>
		</tr>
<tr>
<td>
			Industrials
			</td>
			<td>
			9
			</td>
			<td>
			58%
			</td>
			<td>
			30%
			</td>
			<td>
			117
			</td>
		</tr>
<tr>
<td>
			Healthcare
			</td>
			<td>
			5
			</td>
			<td>
			879%
			</td>
			<td>
			20%
			</td>
			<td>
			36
			</td>
		</tr>
<tr>
<td>
			Materials &amp; Resources
			</td>
			<td>
			2
			</td>
			<td>
			238%
			</td>
			<td>
			16%
			</td>
			<td>
			22
			</td>
		</tr>
<tr>
<td>
			Technology (Hardware/ Software)
			</td>
			<td>
			6
			</td>
			<td>
			34%
			</td>
			<td>
			15%
			</td>
			<td>
			68
			</td>
		</tr>
<tr>
<td>
			Total
			</td>
			<td>
			30
			</td>
			<td>
			205%
			</td>
			<td>
			29%
			</td>
			<td>
			353
			</td>
		</tr>
</tbody></table>
 Largely due to performances by Oceanus Group and Catalist-listed China Star Food Group, the average 2021 to 2 February gains of the eight Consumer Non-Cyclical stocks was 45%, with the less skewed median gain of the eight stocks at 17%.

 

<ul>
<li>Oceanus Group was placed on the SGX-ST Watch List with effect from 14 December 2015, and under the Financial Entry Criteria, the Company announced on 15 June 2020, that it received SGX-ST’s approval for its application for a further extension of time to 1 March 2021 to meet the Financial Exit Criteria. On 9 November, the company reported that for the 9MFY20 (ended 30 Sep) the Group generated total revenue amounting to RMB175.3 million. This was an RMB137.5 million (or 3.6 times) increase from RMB37.8 million recorded for 9MFY19 and represented the highest level of turnover for the Group since 2011, click <a href="https://links.sgx.com/1.0.0/corporate-announcements/HO64ME3OZ75700G2/9922377ccdc7ca6d4408be1f1ad542a03999004ec739fb141410d64e288d1070">here</a> more.</li>
</ul>
 

<ul>
<li>On 1 February, China Star Food Group completed a placement of 290 million New Ordinary Shares In the share capital of the Company. Back on 13 November, the company reported its 1HFY21 (ended 30 Sep) gross profit decreased by 46% YoY in tandem with lower revenue and additional expenses incurred to comply with the local government’s safety measures of ensuring a safe working environment for workers for the Group to continue operating amidst the global pandemic. For its 1HFY21, the company recorded a loss after tax of RMB 10.7 million, a reversal from the profit after tax of RMB 15.2 million in 1HFY20. The company noted the pandemic had quickened its pace in adopting technology in its traditional agriculture business, transforming the business into an “efficient Agri-tech supply chain operator in the sweet potato industry” – click <a href="https://links.sgx.com/FileOpen/CSFG%20-%201H%20FY2021%20Results%20-%20Press%20Release.ashx?App=Announcement&amp;FileID=639214">here</a> more.</li>
</ul>
 

Singapore’s 30 Most Traded Manufacturing-Related Stocks in Early 2021  
Together the 30 stocks that maintain manufacturing-related businesses have been recipient of S$153 million in net institutional inflows in the 2021 year to 2 February. The five of the 30 stocks that saw the highest net institutional inflows span multiple sectors and include Wilmar International, Fu Yu Corporation, AEM Holdings, UMS Holdings, and Sembcorp Marine. The latter four stocks were also among the five of the 30 stocks recipient to the highest net institutional inflows proportionate to market capitalisation, with Frencken Group the fifth stock.  The 30 stocks are sort by the highest trading turnover in the 2021 year to 2 February in the table below. Note there we a total of 33 stocks that have manufacturing-related businesses amongst Singapores most 100 traded stocks for the five weeks and hence the 30 stocks below are not necessarily an exclusive list of stocks that maintain a focus on manufacturing-related activity.

<table class="table table-striped"><tbody>
<tr>
<td>
			30 Most Traded Manufacturing-Related Stocks
			</td>
			<td>
			SGX Code
			</td>
			<td>
			Cap S$M
			</td>
			<td>
			2020 Total Return %
			</td>
			<td>
			2021 to 2 Feb Price Change %
			</td>
			<td>
			Net Insti Inflow YTD S$M
			</td>
			<td>
			Sector 
			</td>
		</tr>
<tr>
<td>
			Wilmar Intl
			</td>
			<td>
			F34
			</td>
			<td>
			34,241
			</td>
			<td>
			17
			</td>
			<td>
			17
			</td>
			<td>
			57
			</td>
			<td>
			Consumer Non-Cyclicals
			</td>
		</tr>
<tr>
<td>
			YZJ Shipbldg SGD
			</td>
			<td>
			BS6
			</td>
			<td>
			3,849
			</td>
			<td>
			-11
			</td>
			<td>
			5
			</td>
			<td>
			7
			</td>
			<td>
			Industrials
			</td>
		</tr>
<tr>
<td>
			ThaiBev
			</td>
			<td>
			Y92
			</td>
			<td>
			20,720
			</td>
			<td>
			-15
			</td>
			<td>
			12
			</td>
			<td>
			-14
			</td>
			<td>
			Consumer Non-Cyclicals
			</td>
		</tr>
<tr>
<td>
			AEM
			</td>
			<td>
			AWX
			</td>
			<td>
			1,198
			</td>
			<td>
			75
			</td>
			<td>
			26
			</td>
			<td>
			46
			</td>
			<td>
			Technology (Hardware/ Software)
			</td>
		</tr>
<tr>
<td>
			Sembcorp Marine
			</td>
			<td>
			S51
			</td>
			<td>
			1,908
			</td>
			<td>
			-83
			</td>
			<td>
			6
			</td>
			<td>
			29
			</td>
			<td>
			Industrials
			</td>
		</tr>
<tr>
<td>
			Venture
			</td>
			<td>
			V03
			</td>
			<td>
			5,861
			</td>
			<td>
			25
			</td>
			<td>
			4
			</td>
			<td>
			8
			</td>
			<td>
			Technology (Hardware/ Software)
			</td>
		</tr>
<tr>
<td>
			Jiutian Chemical*
			</td>
			<td>
			C8R
			</td>
			<td>
			207
			</td>
			<td>
			382
			</td>
			<td>
			27
			</td>
			<td>
			1
			</td>
			<td>
			Materials &amp; Resources
			</td>
		</tr>
<tr>
<td>
			ST Engineering
			</td>
			<td>
			S63
			</td>
			<td>
			11,715
			</td>
			<td>
			1
			</td>
			<td>
			-2
			</td>
			<td>
			-37
			</td>
			<td>
			Industrials
			</td>
		</tr>
<tr>
<td>
			UMS
			</td>
			<td>
			558
			</td>
			<td>
			736
			</td>
			<td>
			10
			</td>
			<td>
			28
			</td>
			<td>
			37
			</td>
			<td>
			Technology (Hardware/ Software)
			</td>
		</tr>
<tr>
<td>
			ISDN
			</td>
			<td>
			I07
			</td>
			<td>
			316
			</td>
			<td>
			79
			</td>
			<td>
			79
			</td>
			<td>
			-2
			</td>
			<td>
			Industrials
			</td>
		</tr>
<tr>
<td>
			Oceanus^
			</td>
			<td>
			579
			</td>
			<td>
			1,604
			</td>
			<td>
			575
			</td>
			<td>
			144
			</td>
			<td>
			-10
			</td>
			<td>
			Consumer Non-Cyclicals
			</td>
		</tr>
<tr>
<td>
			Top Glove
			</td>
			<td>
			BVA
			</td>
			<td>
			18,534
			</td>
			<td>
			300
			</td>
			<td>
			15
			</td>
			<td>
			-10
			</td>
			<td>
			Healthcare
			</td>
		</tr>
<tr>
<td>
			SATS
			</td>
			<td>
			S58
			</td>
			<td>
			4,423
			</td>
			<td>
			-21
			</td>
			<td>
			-1
			</td>
			<td>
			-10
			</td>
			<td>
			Industrials
			</td>
		</tr>
<tr>
<td>
			Medtecs Intl*
			</td>
			<td>
			546
			</td>
			<td>
			582
			</td>
			<td>
			2,628
			</td>
			<td>
			6
			</td>
			<td>
			-7
			</td>
			<td>
			Healthcare
			</td>
		</tr>
<tr>
<td>
			Nanofilm
			</td>
			<td>
			MZH
			</td>
			<td>
			3,375
			</td>
			<td>
			70
			</td>
			<td>
			16
			</td>
			<td>
			-9
			</td>
			<td>
			Technology (Hardware/ Software)
			</td>
		</tr>
<tr>
<td>
			Riverstone
			</td>
			<td>
			AP4
			</td>
			<td>
			2,253
			</td>
			<td>
			143
			</td>
			<td>
			37
			</td>
			<td>
			16
			</td>
			<td>
			Healthcare
			</td>
		</tr>
<tr>
<td>
			UG Healthcare*
			</td>
			<td>
			8K7
			</td>
			<td>
			475
			</td>
			<td>
			1,157
			</td>
			<td>
			32
			</td>
			<td>
			0.4
			</td>
			<td>
			Healthcare
			</td>
		</tr>
<tr>
<td>
			Sunpower
			</td>
			<td>
			5GD
			</td>
			<td>
			751
			</td>
			<td>
			30
			</td>
			<td>
			16
			</td>
			<td>
			-1
			</td>
			<td>
			Industrials
			</td>
		</tr>
<tr>
<td>
			Leader Env
			</td>
			<td>
			LS9
			</td>
			<td>
			231
			</td>
			<td>
			498
			</td>
			<td>
			132
			</td>
			<td>
			-2
			</td>
			<td>
			Industrials
			</td>
		</tr>
<tr>
<td>
			First Resources
			</td>
			<td>
			EB5
			</td>
			<td>
			2,509
			</td>
			<td>
			-31
			</td>
			<td>
			24
			</td>
			<td>
			1
			</td>
			<td>
			Consumer Non-Cyclicals
			</td>
		</tr>
<tr>
<td>
			Golden Agri-Res
			</td>
			<td>
			E5H
			</td>
			<td>
			2,361
			</td>
			<td>
			-30
			</td>
			<td>
			17
			</td>
			<td>
			5
			</td>
			<td>
			Consumer Non-Cyclicals
			</td>
		</tr>
<tr>
<td>
			Frencken
			</td>
			<td>
			E28
			</td>
			<td>
			602
			</td>
			<td>
			47
			</td>
			<td>
			7
			</td>
			<td>
			7
			</td>
			<td>
			Technology (Hardware/ Software)
			</td>
		</tr>
<tr>
<td>
			Japfa
			</td>
			<td>
			UD2
			</td>
			<td>
			1,844
			</td>
			<td>
			64
			</td>
			<td>
			-2
			</td>
			<td>
			0.1
			</td>
			<td>
			Consumer Non-Cyclicals
			</td>
		</tr>
<tr>
<td>
			Avarga
			</td>
			<td>
			U09
			</td>
			<td>
			275
			</td>
			<td>
			93
			</td>
			<td>
			5
			</td>
			<td>
			-1
			</td>
			<td>
			Materials &amp; Resources
			</td>
		</tr>
<tr>
<td>
			Fu Yu
			</td>
			<td>
			F13
			</td>
			<td>
			207
			</td>
			<td>
			10
			</td>
			<td>
			4
			</td>
			<td>
			47
			</td>
			<td>
			Industrials
			</td>
		</tr>
<tr>
<td>
			Sarine Tech
			</td>
			<td>
			U77
			</td>
			<td>
			198
			</td>
			<td>
			16
			</td>
			<td>
			35
			</td>
			<td>
			-6
			</td>
			<td>
			Industrials
			</td>
		</tr>
<tr>
<td>
			Vicplas Intl
			</td>
			<td>
			569
			</td>
			<td>
			143
			</td>
			<td>
			169
			</td>
			<td>
			12
			</td>
			<td>
			-0.3
			</td>
			<td>
			Healthcare
			</td>
		</tr>
<tr>
<td>
			China Star Food*
			</td>
			<td>
			42W
			</td>
			<td>
			29
			</td>
			<td>
			-23
			</td>
			<td>
			140
			</td>
			<td>
			0.3
			</td>
			<td>
			Consumer Non-Cyclicals
			</td>
		</tr>
<tr>
<td>
			Valuetronics
			</td>
			<td>
			BN2
			</td>
			<td>
			285
			</td>
			<td>
			-24
			</td>
			<td>
			11
			</td>
			<td>
			-0.5
			</td>
			<td>
			Technology (Hardware/ Software)
			</td>
		</tr>
<tr>
<td>
			Olam Intl
			</td>
			<td>
			O32
			</td>
			<td>
			5,145
			</td>
			<td>
			-11
			</td>
			<td>
			5
			</td>
			<td>
			4
			</td>
			<td>
			Consumer Non-Cyclicals
			</td>
		</tr>
<tr>
<td>
			Average
			</td>
			<td>
			 
			</td>
			<td>
			 
			</td>
			<td>
			205
			</td>
			<td>
			29
			</td>
			<td>
			 
			</td>
			<td>
			 
			</td>
		</tr>
<tr>
<td>
			Median
			</td>
			<td>
			 
			</td>
			<td>
			 
			</td>
			<td>
			27
			</td>
			<td>
			16
			</td>
			<td>
			 
			</td>
			<td>
			 
			</td>
		</tr>
</tbody></table>
 Note: *Listed on Catalist, ^on SGX Watch List. Sources SGX StockFacts, Refinitiv &amp; Bloomberg (Data as of 2 February 2021).
</body></html>





Singapore’s 30 most traded stocks that maintain manufacturing-related businesses have averaged a 29% YTD gain, with a less skewed median gain of 16%. While the 30 stocks make up 14% of the total market capitalisation of all SGX-listed stocks, they have contributed 25% to average daily turnover in the 2021 year to 2 February.  
	 
	
These 30 stocks span multiple Sectors such as Consumer Non-Cyclicals, Industrials, Healthcare, Materials &amp; Resources, in addition to Technology. Returns across the Sectors have been more balanced in the 2021 YTD, than in 2020 when Healthcare and Materials &amp; Resources led the group.  
	 
	Regional manufacturing activity has continued to be resilient in early 2021 with recent economic indicators showing broadening growth across the various Sectors. Supply chain efficiencies, rising commodity and food prices and consensus expectations for economic rebounds also impacted manufacturing stocks in recent months. 

 
 Regional manufacturing activity has continued to be resilient in early 2021, with both supply and demand drivers contributing to relevant stock price performances over the past five weeks. In Singapore, the 30 most traded stocks in the 2021 year to 2 February that maintain manufacturing-related activities have averaged a 29% gain, with a less skewed median gain of 16%. These 30 businesses span multiple Sectors such as Consumer Non-Cyclicals (i.e. food and beverage processing &amp; products), Industrials, Healthcare, Materials and Resources, in addition to Technology. While demand for medical supplies and technology equipment have been the more entrenched drivers of the goods producing stocks, more recent catalysts include industrial supply chain efficiencies, rising commodity and food prices and expectations for economic rebounds, particularly in China.  
The 30 most traded Singapore-listed stocks with manufacturing-related activities include Wilmar International, Thai Beverage PCL, Sembcorp Marine, AEM Holdings, ISDN Holdings and Medtecs International Corporation. Food producers suchs as Japfa and SATS are also included amongst the Group. The group also includes China-based stocks such as Catalist-listed Jiutian Chemical Group and Mainboard-listed Sunpower Group, with the latter announcing yesterday it had won a RMB141 million (S$29.1 million) manufacturing and services contract from an existing customer in the polycrystalline silicon industry.  Singapore’s Broader Manufacturing Sector Continued Rebound in January  
The Manufacturing Sector was an important contributor to the Singapore economy in 2020, with advanced estimates that the Sector grew 7.1% in 2020, rebounding from a 1.4% decline in 2019. As noted here, Singapore’s most traded manufacturing-related stocks also generated comparatively strong average and median returns in 2020. The strategic importance of the Sector was again underscored on 25 January, with Singapore’s Trade and Industry Minister Chan Chun Sing announcing a new 10-year plan to grow Singapore's manufacturing sector by 50% and maintain its share of about 20% GDP.  
The SIPMM Purchasing Managing Index (“PMI”) rose 0.2 points to 50.7 in January, with seven straight months of expansion. Over the past three months, the two sub-indices of the SIPMM PMI which saw the most decline from January 2018 to October 2020, New Orders and Output have continued to increase. The sub-index for New Orders has risen to 51.1 in January, from 50.6 in October 2020. 



      
    
    SIPMM PMI

Back in January 2018, the SIPMM PMI recorded its highest expansion since December 2009, which followed a strong year for the Singapore economy and was also the month that marked a key beachhead in the US-China trade tensions. At 51.0, the SIPMM Electronics PMI declined 0.2 points in January from a 27 month high in December 2020. The pick-up in broader manufacturing was also evident in the Industrial Production report for December released on 26 January. As illustrated below, aside from the growth of the Electronic and Semiconductor indices, the steady gains made by General Manufacturing, Petroleum and Transport Engineering are slowly disbanding the K-shape in the relative performances clearly evident from April through to August.


      
    
    Singapore Industrial Production Sub-Indices


Broad 2021 YTD Gains Across Manufacturing-Related Industries    Singapore’s 30 most traded stocks with manufacturing-related activities maintain a combined market capitalisation of S$127 billion, and so far in 2021 have seen S$353 million in average daily turnover. This means the 30 stocks made up 14% of the total market capitalisation of all stocks listed on Singapore Exchange and 25% of the day-to-day turnover in the 2021 year to 2 February.  
As detailed in the table below, the Industrial stocks account for the most number of stocks among the group of 30, and also contributed the most to the S$353 million in average daily turnover. While the five healthcare-related stocks led the group in 2020, gains have been more balanced in the 2021 year to 2 February.




			Sectors of 30 Most Traded Manufacturing-Related Stocks
			
			
			Number of Stocks
			
			
			Average 2020 Total Return %
			
			
			Average 2021 to 2 Feb Price Change %
			
			
			2021 to 2 Feb Average Daily Turnover S$M
			
		


			Consumer Non-Cyclicals
			
			
			8
			
			
			68%
			
			
			45%
			
			
			110
			
		


			Industrials
			
			
			9
			
			
			58%
			
			
			30%
			
			
			117
			
		


			Healthcare
			
			
			5
			
			
			879%
			
			
			20%
			
			
			36
			
		


			Materials &amp; Resources
			
			
			2
			
			
			238%
			
			
			16%
			
			
			22
			
		


			Technology (Hardware/ Software)
			
			
			6
			
			
			34%
			
			
			15%
			
			
			68
			
		


			Total
			
			
			30
			
			
			205%
			
			
			29%
			
			
			353
			
		

 Largely due to performances by Oceanus Group and Catalist-listed China Star Food Group, the average 2021 to 2 February gains of the eight Consumer Non-Cyclical stocks was 45%, with the less skewed median gain of the eight stocks at 17%.

 


Oceanus Group was placed on the SGX-ST Watch List with effect from 14 December 2015, and under the Financial Entry Criteria, the Company announced on 15 June 2020, that it received SGX-ST’s approval for its application for a further extension of time to 1 March 2021 to meet the Financial Exit Criteria. On 9 November, the company reported that for the 9MFY20 (ended 30 Sep) the Group generated total revenue amounting to RMB175.3 million. This was an RMB137.5 million (or 3.6 times) increase from RMB37.8 million recorded for 9MFY19 and represented the highest level of turnover for the Group since 2011, click here more.

 


On 1 February, China Star Food Group completed a placement of 290 million New Ordinary Shares In the share capital of the Company. Back on 13 November, the company reported its 1HFY21 (ended 30 Sep) gross profit decreased by 46% YoY in tandem with lower revenue and additional expenses incurred to comply with the local government’s safety measures of ensuring a safe working environment for workers for the Group to continue operating amidst the global pandemic. For its 1HFY21, the company recorded a loss after tax of RMB 10.7 million, a reversal from the profit after tax of RMB 15.2 million in 1HFY20. The company noted the pandemic had quickened its pace in adopting technology in its traditional agriculture business, transforming the business into an “efficient Agri-tech supply chain operator in the sweet potato industry” – click here more.

 

Singapore’s 30 Most Traded Manufacturing-Related Stocks in Early 2021    
Together the 30 stocks that maintain manufacturing-related businesses have been recipient of S$153 million in net institutional inflows in the 2021 year to 2 February. The five of the 30 stocks that saw the highest net institutional inflows span multiple sectors and include Wilmar International, Fu Yu Corporation, AEM Holdings, UMS Holdings, and Sembcorp Marine. The latter four stocks were also among the five of the 30 stocks recipient to the highest net institutional inflows proportionate to market capitalisation, with Frencken Group the fifth stock.   The 30 stocks are sort by the highest trading turnover in the 2021 year to 2 February in the table below. Note there we a total of 33 stocks that have manufacturing-related businesses amongst Singapores most 100 traded stocks for the five weeks and hence the 30 stocks below are not necessarily an exclusive list of stocks that maintain a focus on manufacturing-related activity.




			30 Most Traded Manufacturing-Related Stocks
			
			
			SGX Code
			
			
			Cap S$M
			
			
			2020 Total Return %
			
			
			2021 to 2 Feb Price Change %
			
			
			Net Insti Inflow YTD S$M
			
			
			Sector 
			
		


			Wilmar Intl
			
			
			F34
			
			
			34,241
			
			
			17
			
			
			17
			
			
			57
			
			
			Consumer Non-Cyclicals
			
		


			YZJ Shipbldg SGD
			
			
			BS6
			
			
			3,849
			
			
			-11
			
			
			5
			
			
			7
			
			
			Industrials
			
		


			ThaiBev
			
			
			Y92
			
			
			20,720
			
			
			-15
			
			
			12
			
			
			-14
			
			
			Consumer Non-Cyclicals
			
		


			AEM
			
			
			AWX
			
			
			1,198
			
			
			75
			
			
			26
			
			
			46
			
			
			Technology (Hardware/ Software)
			
		


			Sembcorp Marine
			
			
			S51
			
			
			1,908
			
			
			-83
			
			
			6
			
			
			29
			
			
			Industrials
			
		


			Venture
			
			
			V03
			
			
			5,861
			
			
			25
			
			
			4
			
			
			8
			
			
			Technology (Hardware/ Software)
			
		


			Jiutian Chemical*
			
			
			C8R
			
			
			207
			
			
			382
			
			
			27
			
			
			1
			
			
			Materials &amp; Resources
			
		


			ST Engineering
			
			
			S63
			
			
			11,715
			
			
			1
			
			
			-2
			
			
			-37
			
			
			Industrials
			
		


			UMS
			
			
			558
			
			
			736
			
			
			10
			
			
			28
			
			
			37
			
			
			Technology (Hardware/ Software)
			
		


			ISDN
			
			
			I07
			
			
			316
			
			
			79
			
			
			79
			
			
			-2
			
			
			Industrials
			
		


			Oceanus^
			
			
			579
			
			
			1,604
			
			
			575
			
			
			144
			
			
			-10
			
			
			Consumer Non-Cyclicals
			
		


			Top Glove
			
			
			BVA
			
			
			18,534
			
			
			300
			
			
			15
			
			
			-10
			
			
			Healthcare
			
		


			SATS
			
			
			S58
			
			
			4,423
			
			
			-21
			
			
			-1
			
			
			-10
			
			
			Industrials
			
		


			Medtecs Intl*
			
			
			546
			
			
			582
			
			
			2,628
			
			
			6
			
			
			-7
			
			
			Healthcare
			
		


			Nanofilm
			
			
			MZH
			
			
			3,375
			
			
			70
			
			
			16
			
			
			-9
			
			
			Technology (Hardware/ Software)
			
		


			Riverstone
			
			
			AP4
			
			
			2,253
			
			
			143
			
			
			37
			
			
			16
			
			
			Healthcare
			
		


			UG Healthcare*
			
			
			8K7
			
			
			475
			
			
			1,157
			
			
			32
			
			
			0.4
			
			
			Healthcare
			
		


			Sunpower
			
			
			5GD
			
			
			751
			
			
			30
			
			
			16
			
			
			-1
			
			
			Industrials
			
		


			Leader Env
			
			
			LS9
			
			
			231
			
			
			498
			
			
			132
			
			
			-2
			
			
			Industrials
			
		


			First Resources
			
			
			EB5
			
			
			2,509
			
			
			-31
			
			
			24
			
			
			1
			
			
			Consumer Non-Cyclicals
			
		


			Golden Agri-Res
			
			
			E5H
			
			
			2,361
			
			
			-30
			
			
			17
			
			
			5
			
			
			Consumer Non-Cyclicals
			
		


			Frencken
			
			
			E28
			
			
			602
			
			
			47
			
			
			7
			
			
			7
			
			
			Technology (Hardware/ Software)
			
		


			Japfa
			
			
			UD2
			
			
			1,844
			
			
			64
			
			
			-2
			
			
			0.1
			
			
			Consumer Non-Cyclicals
			
		


			Avarga
			
			
			U09
			
			
			275
			
			
			93
			
			
			5
			
			
			-1
			
			
			Materials &amp; Resources
			
		


			Fu Yu
			
			
			F13
			
			
			207
			
			
			10
			
			
			4
			
			
			47
			
			
			Industrials
			
		


			Sarine Tech
			
			
			U77
			
			
			198
			
			
			16
			
			
			35
			
			
			-6
			
			
			Industrials
			
		


			Vicplas Intl
			
			
			569
			
			
			143
			
			
			169
			
			
			12
			
			
			-0.3
			
			
			Healthcare
			
		


			China Star Food*
			
			
			42W
			
			
			29
			
			
			-23
			
			
			140
			
			
			0.3
			
			
			Consumer Non-Cyclicals
			
		


			Valuetronics
			
			
			BN2
			
			
			285
			
			
			-24
			
			
			11
			
			
			-0.5
			
			
			Technology (Hardware/ Software)
			
		


			Olam Intl
			
			
			O32
			
			
			5,145
			
			
			-11
			
			
			5
			
			
			4
			
			
			Consumer Non-Cyclicals
			
		


			Average
			
			
			 
			
			
			 
			
			
			205
			
			
			29
			
			
			 
			
			
			 
			
		


			Median
			
			
			 
			
			
			 
			
			
			27
			
			
			16
			
			
			 
			
			
			 
			
		

 Note: *Listed on Catalist, ^on SGX Watch List. Sources SGX StockFacts, Refinitiv &amp; Bloomberg (Data as of 2 February 2021).



Manufacturing Stocks Continued to Outpace in Early 2021 

Singapore

Oceanus Group Ltd is a marine aquaculture specialist focusing on large-scale, land-based, industrialized production and sale of Japanese abalones.

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Oceanus (OCNUS SP)

Oceanus Group Secures Future With Food Technology

Entrepreneur Peter Koh always focuses on leading by example, because he believes that actions resonate more powerfully than...

Singapore Exchange Ltd (SGX)

Manufacturing Stocks Continued to Outpace in Early 2021

Singapore’s 30 most traded stocks that maintain manufacturing-related businesses have averaged a 29% YTD gain, with a less skewed median gain...

Singapore Exchange Ltd (SGX)

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