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

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<ul>
<li>Singapore’s 1Q22 GDP expanded 3.7% YoY, continuing the above trend momentum seen in 2021 with 7.6% growth. The GDP forecast for the full 2022 year is currently 3.0% to 5.0%, with growth likely to come in at the lower half of the forecast range. Manufacturing was again a key driver, expanding 7.1% YoY in 1Q22, extending 15.5% growth in 4Q21.</li>
</ul>
<ul>
<li>The STI has gained 3.4% in the 2022 YTD, with reinvested dividends boosting the total return to 5.5%. This has coincided with 30 constituents booking S$538 million of net institutional inflow. Singtel which reported FY22 results on Friday led the net institutional inflows of all SGX-listed stocks in the 2022 YTD, with S$666 million of net buying. </li>
</ul>
<ul>
<li>As many as 11 of the STI stocks have generated double digit percentage gains in the 2022 YTD. These stocks are Sembcorp Industries (44%), Jardine C&amp;C (43%), Yangzijiang Shipbuilding (40%), Keppel Corp (37%), City Dev (25%), CapitaLand Invest (19%), Singtel (16%), SATS (16%), ST Engineering (11%), UOB (11%) and Singapore Airlines (10%).</li>
</ul>
 

 

The STI has generated a 5.5% total return in the 2022 YTD, outpacing the FTSE Developed Index which has generated an 11.0% decline in total return in SGD terms. With average total returns of 4.6%, the trio of DBS Group Holdings, Oversea-Chinese Banking Corporation and United Overseas Bank have had the most impact on the STI performance due to their leading, heavy weightage. United Overseas Bank has led the trio in the 2022 YTD, with double-digit total returns of 11.4%. Globally, banks have seen just one-third of the declines of the technology sector, with index performances significantly influenced by their technology stock weights.

Asides from United Overseas Bank, there have been another 10 STI constituents that have generated double-digit total returns over the first 21 weeks of 2022. These 10 stocks, represent as many as seven sectors and are tabled below.
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 <img src='https://api2.sgx.com/sites/default/files/2022-05/table%201.PNG' alt='10 STI constituents that have generated double-digit total returns over the first 21 weeks of 2022' />
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 <div class='content-caption'>10 STI constituents that have generated double-digit total returns over the first 21 weeks of 2022</div>
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Globally, Energy and Utilities stocks have been the strongest sectors for the 2022 YTD, while Indonesia has been among the strongest emerging stock markets in the 2022 YTD. This has coincided with Sembcorp Industries and Jardine Cycle &amp; Carriage leading the STI over the past 21 weeks. Meanwhile the regional re-openings, have also coincided with City Developments, CapitaLand Investment, SATS and Singapore Airlines posting double digit percentage total returns in the 2022 YTD. 

On Friday, Singapore Telecommunications reported its FY22 (ended 31 Mar) underlying net profit improved 11% YoY to S$1.92 billion, mainly lifted by Bharti Airtel’s resilient turnaround. Singapore Telecommunications is pursuing an ongoing strategic reset to develop new growth engines in ICT and digital services aiming transform NCS into an Asian B2B digital services champion, and NCS-originated revenue was up a record 9% in FY22 as NCS has continued to diversify its revenue streams, with Digital, Cloud, Platforms and Cyber revenue now contributing 49% of total operating revenue, up from 41% last year.

 

Singapore GDP forecast to grow 3.0% to 5.0%, with growth likely to come in at the lower half of the forecast range.

Last week, Singapore’s 1Q22 GDP was <a href="https://www.singstat.gov.sg/gdp?force_isolation=true">reported</a> to grow 3.7% YoY, continuing the above trend momentum of 2021 at 7.6% YoY growth.

<ul>
<li>The GDP forecast for 2022 is currently 3.0% to 5.0%, with growth likely to come in at the lower half of the forecast range. The manufacturing sector expanded 7.1% YoY in 1Q22, extending the 15.5% growth in 4Q21, while construction grew 2.1% YoY, easing from the 2.9% YoY growth in 4Q21. Services Producing industries expanded 4.2% YoY, similar to the 4Q21 pace of 4.4% YoY growth, and led by growth in the real estate, information and communications and professional services segments.</li>
</ul>
<ul>
<li>For professional services the GDP report noted that “the rollout of the Vaccinated Travel Framework, alongside the easing of border restrictions in regional economies, is likely to boost the growth of the professional services sector as firms in segments like consultancy and legal can now better engage their overseas clients. Similarly, air travel and visitor arrivals are expected to pick up more quickly than earlier projected, thereby accelerating the recovery of aviation- and tourism-related sectors like air transport and arts, entertainment &amp; recreation”.</li>
</ul>
<ul>
<li>On a cautionary note, the report also maintained the external environment continues to be a challenge with the Russia-Ukraine conflict, global supply disruptions, monetary policy tightening and continued impact of COVID, and thus the growth outlook for some outward-oriented sectors in the Singapore economy has weakened. For instance the report noted that “as China is a key market for petroleum and chemicals products from Singapore, its economic slowdown is likely to adversely affect the growth prospects of Singapore’s chemicals cluster and the fuel &amp; chemicals segment of the wholesale trade sector”.</li>
</ul>
 

Singapore’s April Industrial Production Up 6.2% YoY

The Singapore 1Q22 GDP report noted last week that “the electronics cluster is expected to expand more strongly than earlier projected, bolstered by robust global demand for semiconductors from the 5G and automotive markets, as well as cloud services and data centres”. Last week, Singapore’s April Industrial Production was <a href="https://www.edb.gov.sg/en/about-edb/media-releases-publications/monthly-manufacturing-performance.html">reported</a> to grow 6.2% YoY, with transport engineering and electronics growing 17.2% YoY and 10.4% respectively. This means Singapore’s industrial production has gained ~7% in the first four months of 2022, following the ~13% growth of 2021.  

 

The STI includes two Singapore-based manufacturers – Venture Corporation and ST Engineering.

<ul>
<li>
Venture Corporation has declined 2.0% in the 2022 YTD, after a similar 1.9% decline in total return 2021. On 29 April, Venture reported its growth momentum continued from 2021, with a 30% YoY increase in 1Q22 revenue to S$889M on robust demand from customers in the Lifestyle &amp; Wellness, Advanced Payment Systems, Advanced Industrial and Instrumentation, Test and Measurement technology domains. Additionally, the company highlighted that several iniatives from its R&amp;D Labs have enabled it to mitigate supply chain disruptions and expand its capabilities to fulfil more orders.</li>
</ul>
<ul>
<li>
ST Engineering has generated an 11.5% total return in the 2022 YTD after a 2.3% gain in 2021. On 13 May, ST Engineering highlighted it had secured S$2.4B in new contracts in 1Q22, with an overall robust order book of S$21.3B, incl. $1.6B from TransCore and S$5.8B expected to be delivered in the remaining months of 2022. Management also flagged alignment with Digitalisation with the Cloud, AI Analytics, Cyber business to triple to &gt;S$500m by 2026.</li>
</ul>
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 <img src='https://api2.sgx.com/sites/default/files/2022-05/table%202.PNG' alt='The full 30 STI stocks are tabled below.' />
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 <div class='content-caption'>The full 30 STI stocks are tabled below.</div>




Singapore’s 1Q22 GDP expanded 3.7% YoY, continuing the above trend momentum seen in 2021 with 7.6% growth. The GDP forecast for the full 2022 year is currently 3.0% to 5.0%, with growth likely to come in at the lower half of the forecast range. Manufacturing was again a key driver, expanding 7.1% YoY in 1Q22, extending 15.5% growth in 4Q21.


The STI has gained 3.4% in the 2022 YTD, with reinvested dividends boosting the total return to 5.5%. This has coincided with 30 constituents booking S$538 million of net institutional inflow. Singtel which reported FY22 results on Friday led the net institutional inflows of all SGX-listed stocks in the 2022 YTD, with S$666 million of net buying. 


As many as 11 of the STI stocks have generated double digit percentage gains in the 2022 YTD. These stocks are Sembcorp Industries (44%), Jardine C&amp;C (43%), Yangzijiang Shipbuilding (40%), Keppel Corp (37%), City Dev (25%), CapitaLand Invest (19%), Singtel (16%), SATS (16%), ST Engineering (11%), UOB (11%) and Singapore Airlines (10%).

 

 

The STI has generated a 5.5% total return in the 2022 YTD, outpacing the FTSE Developed Index which has generated an 11.0% decline in total return in SGD terms. With average total returns of 4.6%, the trio of DBS Group Holdings, Oversea-Chinese Banking Corporation and United Overseas Bank have had the most impact on the STI performance due to their leading, heavy weightage. United Overseas Bank has led the trio in the 2022 YTD, with double-digit total returns of 11.4%. Globally, banks have seen just one-third of the declines of the technology sector, with index performances significantly influenced by their technology stock weights.

Asides from United Overseas Bank, there have been another 10 STI constituents that have generated double-digit total returns over the first 21 weeks of 2022. These 10 stocks, represent as many as seven sectors and are tabled below.



      
    
    10 STI constituents that have generated double-digit total returns over the first 21 weeks of 2022


Globally, Energy and Utilities stocks have been the strongest sectors for the 2022 YTD, while Indonesia has been among the strongest emerging stock markets in the 2022 YTD. This has coincided with Sembcorp Industries and Jardine Cycle &amp; Carriage leading the STI over the past 21 weeks. Meanwhile the regional re-openings, have also coincided with City Developments, CapitaLand Investment, SATS and Singapore Airlines posting double digit percentage total returns in the 2022 YTD. 

On Friday, Singapore Telecommunications reported its FY22 (ended 31 Mar) underlying net profit improved 11% YoY to S$1.92 billion, mainly lifted by Bharti Airtel’s resilient turnaround. Singapore Telecommunications is pursuing an ongoing strategic reset to develop new growth engines in ICT and digital services aiming transform NCS into an Asian B2B digital services champion, and NCS-originated revenue was up a record 9% in FY22 as NCS has continued to diversify its revenue streams, with Digital, Cloud, Platforms and Cyber revenue now contributing 49% of total operating revenue, up from 41% last year.

 

Singapore GDP forecast to grow 3.0% to 5.0%, with growth likely to come in at the lower half of the forecast range.

Last week, Singapore’s 1Q22 GDP was reported to grow 3.7% YoY, continuing the above trend momentum of 2021 at 7.6% YoY growth.


The GDP forecast for 2022 is currently 3.0% to 5.0%, with growth likely to come in at the lower half of the forecast range. The manufacturing sector expanded 7.1% YoY in 1Q22, extending the 15.5% growth in 4Q21, while construction grew 2.1% YoY, easing from the 2.9% YoY growth in 4Q21. Services Producing industries expanded 4.2% YoY, similar to the 4Q21 pace of 4.4% YoY growth, and led by growth in the real estate, information and communications and professional services segments.


For professional services the GDP report noted that “the rollout of the Vaccinated Travel Framework, alongside the easing of border restrictions in regional economies, is likely to boost the growth of the professional services sector as firms in segments like consultancy and legal can now better engage their overseas clients. Similarly, air travel and visitor arrivals are expected to pick up more quickly than earlier projected, thereby accelerating the recovery of aviation- and tourism-related sectors like air transport and arts, entertainment &amp; recreation”.


On a cautionary note, the report also maintained the external environment continues to be a challenge with the Russia-Ukraine conflict, global supply disruptions, monetary policy tightening and continued impact of COVID, and thus the growth outlook for some outward-oriented sectors in the Singapore economy has weakened. For instance the report noted that “as China is a key market for petroleum and chemicals products from Singapore, its economic slowdown is likely to adversely affect the growth prospects of Singapore’s chemicals cluster and the fuel &amp; chemicals segment of the wholesale trade sector”.

 

Singapore’s April Industrial Production Up 6.2% YoY

The Singapore 1Q22 GDP report noted last week that “the electronics cluster is expected to expand more strongly than earlier projected, bolstered by robust global demand for semiconductors from the 5G and automotive markets, as well as cloud services and data centres”. Last week, Singapore’s April Industrial Production was reported to grow 6.2% YoY, with transport engineering and electronics growing 17.2% YoY and 10.4% respectively. This means Singapore’s industrial production has gained ~7% in the first four months of 2022, following the ~13% growth of 2021.  

 

The STI includes two Singapore-based manufacturers – Venture Corporation and ST Engineering.



Venture Corporation has declined 2.0% in the 2022 YTD, after a similar 1.9% decline in total return 2021. On 29 April, Venture reported its growth momentum continued from 2021, with a 30% YoY increase in 1Q22 revenue to S$889M on robust demand from customers in the Lifestyle &amp; Wellness, Advanced Payment Systems, Advanced Industrial and Instrumentation, Test and Measurement technology domains. Additionally, the company highlighted that several iniatives from its R&amp;D Labs have enabled it to mitigate supply chain disruptions and expand its capabilities to fulfil more orders.



ST Engineering has generated an 11.5% total return in the 2022 YTD after a 2.3% gain in 2021. On 13 May, ST Engineering highlighted it had secured S$2.4B in new contracts in 1Q22, with an overall robust order book of S$21.3B, incl. $1.6B from TransCore and S$5.8B expected to be delivered in the remaining months of 2022. Management also flagged alignment with Digitalisation with the Cloud, AI Analytics, Cyber business to triple to &gt;S$500m by 2026.




      
    
    The full 30 STI stocks are tabled below.

STI Maintains 5.5% YTD Total Return as Economy Grew 3.7% in 1Q22

Capitaland Integrated Commercial Trust / Equity Bottom-Up

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 <img src='https://api2.sgx.com/sites/default/files/2022-05/sharebuyback_2.PNG' alt='Share buyback' />
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 <div class='content-caption'>Share buyback</div>
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For the 5 trading sessions that spanned May 20 to 26, the Straits Times Index (STI) gained 0.6 per cent, with the FTSE China A50 Index declining 1.1 per cent, the Hang Seng Index dipping 0.5 per cent and the FTSE Bursa Malaysia KLCI sliding 0.8 per cent. 

Overall, institutions were net sellers of Singapore stocks over the 5 sessions with S$109 million of net outflow, following the S$3.4 million of net inflow for the preceding 5 sessions. DBS Group Holdings, OCBC, Ascendas Reit, CapitaLand Integrated Commercial Trust and Suntec Reit led the net institutional outflows for the 5 sessions through to May 26. Share buybacks

There were 20 primary-listed stocks conducting share buybacks over the 5 sessions ended May 26, with a total consideration of S$51,483,484, down from the S$67,410,124 million for the preceding 5 sessions. 
Keppel Corporation led the consideration tally with 3,644,000 shares bought at an average price of S$6.80 per share. This brought the total amount of shares purchased on its current mandate to 0.86 per cent of its issued shares (excluding treasury shares).

The preceding mandate saw Keppel buy back 1.52 per cent of its issued shares.

On May 24, the company announced that Keppel Offshore &amp; Marine had, through its wholly owned subsidiaries, signed contracts for the bareboat charter of another 2 KFELS B Class rigs to be deployed in the Middle East. 
The rigs will be chartered to an established drilling company in the Middle East for deployment in Q4 2022 for a period of 3 years, with options for a year’s extension.

Total revenue from the charters, including the options and modification works by Keppel O&amp;M to prepare the rigs for on-site operations, is expected to be up to S$120 million.

Hong Fok Corporation : H30 0% led the buyback consideration tally for the non-STI stocks over the 5 sessions, purchasing 1,328,000 shares at an average price of 90.1 cents per share.

This brought the total amount of shares purchased on the current mandate to 0.82 per cent of its issued shares (excluding treasury shares).

At the Apr 27 AGM, the chairman of Hong Fok reported that the group had made a good recovery from the effects of the Covid-19 pandemic with an increase in revenue mainly from the sale of more residential units in Concourse Skyline, the sale of the last unit at Jewel of Balmoral, higher property management income and dividend income. Director and substantial shareholder transactions

The 5 trading sessions saw fewer than 70 changes to director interests and substantial shareholdings filed for just over 30 primary-listed stocks.

This included 7 company director acquisitions with 3 disposals filed, while substantial shareholders filed 3 acquisitions and 4 disposals.

Centurion Corporation

Between May 20 and 25, Centurion Corporation executive director and joint chairman David Loh Kim Kang acquired 1,831,300 shares of the purpose-built accommodation developer and manager for a consideration of S$640,955.

At 35.0 cents per share, this took his total interest in from 55.18 per cent to 55.40 per cent.

Loh’s preceding acquisition was in October 2020 with 200,000 shares acquired at 33.5 cents per share. He is responsible for the formulation of corporate and business strategies of the company and leads the execution of strategic growth plans of the group.

He has over 20 years of experience in the investment and brokerage industry and has been a principal and director of Centurion Global Ltd, a controlling shareholder of the company from April 2008 to the present.

On May 10, Centurion provided a business update, highlighting a 47 per cent year-on-year increase in Q1 2022 revenue.

This was attributed to higher contributions mainly from new purpose-built worker accommodation (PBWA) capacity and revenue streams, improved performance in Singapore PBWA accommodation assets, and recovery of occupancies in the UK and Australia purpose-built student accommodation portfolio.

These higher contributions were partly offset by the cessation of operations of dwell Selegie and the conclusion of management contracst for 2 factory-converted workers dormitories in Singapore.

Looking ahead, the company noted that as economies recover from Covid-19, and international travel resuming, populations of migrant workers and international students continue to expand across the geographies where Centurion operates. ABR Holdings

Between May 23 and 24, ABR Holdings managing director Ang Yee Lim acquired 301,700 shares of the company for a consideration of S$142,721 at an average price of 47.3 cents per share.

This took Ang’s interest in the restaurant operator from 51.71 per cent to 51.86 per cent. His preceding acquisition was on Dec 21 with 120,000 shares acquired at 46.0 cents per share.

ABR Holdings traces its roots to 1979 with the establishment of the 200-seater Swensen’s at Thomson Plaza, the first full-service ice-cream restaurant in Singapore.

Today, ABR operates more than 25 restaurant outlets and the Swensen’s brand has become synonymous with family friendly dining.

Ang was appointed to the board as an executive director in May 2004, and subsequently appointed managing director in July 2004.

He has over 20 years of experience in the food and beverage business and more than 30 years of experience in property development and investment in Singapore, Malaysia, Indonesia and Thailand. AnnAik

Between May 24 and 25, Low Kheng, spouse of AnnAik executive chairman cum CEO, Ow Chin Seng, purchased 1,794,900 shares of the company for a consideration of $155,292.

At an average price of 8.7 cents per share, this increased Ow’s total interest in the manufacturer and distributor of stainless-steel products from 38.34 per cent to 38.96 per cent.

Ow is primarily responsible for the business and strategic development of the group. With over 40 years of experience in the hardware and steel industry, he has been instrumental in the strategic direction and development of the group.

With last year’s hike in steel prices, strong demand of steel products and contribution of the environmental division, AnnAik achieved an attributable profit in 2021 of S$3.09 million, compared to S$177,000 in 2020. Dyna-Mac Holdings

On May 26, Dyna-Mac Holdings independent non-executive director Henry Tan Song Kok acquired 500,000 shares of the company at 15.7 cents per share.

With a consideration of S$78,600 this took his direct interest in the global multi-disciplinary contractor to 0.05 per cent.

Tan is also an independent director, on the boards of Asia Vets Holdings, BH Global Corporation, Penguin International and Trans-China Automotive Holdings. LHT Holdings

On May 24, LHT Holdings managing director, Yap Mui Kee, acquired 49,500 shares of the company for a consideration of S$34,719.

At an average price of 70.1 cents per share, this took her direct interest in the manufacturer of high-quality wooden pallets, boxes, and crates from 14.89 per cent to 14.99 per cent.

Preceding acquisitions saw Yap buy 52,100 shares at 71.0 cents per share on Mar 25, 17,700 shares at 70.0 cents per share on Mar 18 and 24,600 shares of at 69.1 cents per share on Mar 7.

Yap has over 35 years of experience in sales and marketing and plays a key role in exploring opportunities in new markets.

Part of her responsibility is also to monitor market developments and streamline the company’s product development efforts according to market demands.

Yap spearheads the group’s RFID (Radio Frequency Identification) ECR Pallet Tracking System and is actively involved in its ECR (Efficient Consumer Response) pallet rental business in Singapore and Malaysia. Oxley Holdings

On May 25, Oxley Holdings executive director and deputy CEO Eric Low See Ching acquired 50,000 shares of the company at an average price of 17.7 cents per share, at a consideration of S$8,850.

Low maintains a 28.13 per cent direct interest in Oxley Holdings and is responsible for the operation of the group, including sales and marketing, project development, business development and financial management.

Low also assists the CEO in charting and executing the strategic plans for the group. Inside Insights is a weekly column on The Business Times,<a href="https://www.businesstimes.com.sg/companies-markets/centurions-david-loh-raises-stake-keppel-leads-buyback-tally"> read </a>the original version.
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    Share buyback


For the 5 trading sessions that spanned May 20 to 26, the Straits Times Index (STI) gained 0.6 per cent, with the FTSE China A50 Index declining 1.1 per cent, the Hang Seng Index dipping 0.5 per cent and the FTSE Bursa Malaysia KLCI sliding 0.8 per cent. 

Overall, institutions were net sellers of Singapore stocks over the 5 sessions with S$109 million of net outflow, following the S$3.4 million of net inflow for the preceding 5 sessions. DBS Group Holdings, OCBC, Ascendas Reit, CapitaLand Integrated Commercial Trust and Suntec Reit led the net institutional outflows for the 5 sessions through to May 26.  Share buybacks

There were 20 primary-listed stocks conducting share buybacks over the 5 sessions ended May 26, with a total consideration of S$51,483,484, down from the S$67,410,124 million for the preceding 5 sessions.  
Keppel Corporation led the consideration tally with 3,644,000 shares bought at an average price of S$6.80 per share. This brought the total amount of shares purchased on its current mandate to 0.86 per cent of its issued shares (excluding treasury shares).

The preceding mandate saw Keppel buy back 1.52 per cent of its issued shares.

On May 24, the company announced that Keppel Offshore &amp; Marine had, through its wholly owned subsidiaries, signed contracts for the bareboat charter of another 2 KFELS B Class rigs to be deployed in the Middle East.  
The rigs will be chartered to an established drilling company in the Middle East for deployment in Q4 2022 for a period of 3 years, with options for a year’s extension.

Total revenue from the charters, including the options and modification works by Keppel O&amp;M to prepare the rigs for on-site operations, is expected to be up to S$120 million.

Hong Fok Corporation : H30 0% led the buyback consideration tally for the non-STI stocks over the 5 sessions, purchasing 1,328,000 shares at an average price of 90.1 cents per share.

This brought the total amount of shares purchased on the current mandate to 0.82 per cent of its issued shares (excluding treasury shares).

At the Apr 27 AGM, the chairman of Hong Fok reported that the group had made a good recovery from the effects of the Covid-19 pandemic with an increase in revenue mainly from the sale of more residential units in Concourse Skyline, the sale of the last unit at Jewel of Balmoral, higher property management income and dividend income.  Director and substantial shareholder transactions

The 5 trading sessions saw fewer than 70 changes to director interests and substantial shareholdings filed for just over 30 primary-listed stocks.

This included 7 company director acquisitions with 3 disposals filed, while substantial shareholders filed 3 acquisitions and 4 disposals.

Centurion Corporation

Between May 20 and 25, Centurion Corporation executive director and joint chairman David Loh Kim Kang acquired 1,831,300 shares of the purpose-built accommodation developer and manager for a consideration of S$640,955.

At 35.0 cents per share, this took his total interest in from 55.18 per cent to 55.40 per cent.

Loh’s preceding acquisition was in October 2020 with 200,000 shares acquired at 33.5 cents per share. He is responsible for the formulation of corporate and business strategies of the company and leads the execution of strategic growth plans of the group.

He has over 20 years of experience in the investment and brokerage industry and has been a principal and director of Centurion Global Ltd, a controlling shareholder of the company from April 2008 to the present.

On May 10, Centurion provided a business update, highlighting a 47 per cent year-on-year increase in Q1 2022 revenue.

This was attributed to higher contributions mainly from new purpose-built worker accommodation (PBWA) capacity and revenue streams, improved performance in Singapore PBWA accommodation assets, and recovery of occupancies in the UK and Australia purpose-built student accommodation portfolio.

These higher contributions were partly offset by the cessation of operations of dwell Selegie and the conclusion of management contracst for 2 factory-converted workers dormitories in Singapore.

Looking ahead, the company noted that as economies recover from Covid-19, and international travel resuming, populations of migrant workers and international students continue to expand across the geographies where Centurion operates.  ABR Holdings

Between May 23 and 24, ABR Holdings managing director Ang Yee Lim acquired 301,700 shares of the company for a consideration of S$142,721 at an average price of 47.3 cents per share.

This took Ang’s interest in the restaurant operator from 51.71 per cent to 51.86 per cent. His preceding acquisition was on Dec 21 with 120,000 shares acquired at 46.0 cents per share.

ABR Holdings traces its roots to 1979 with the establishment of the 200-seater Swensen’s at Thomson Plaza, the first full-service ice-cream restaurant in Singapore.

Today, ABR operates more than 25 restaurant outlets and the Swensen’s brand has become synonymous with family friendly dining.

Ang was appointed to the board as an executive director in May 2004, and subsequently appointed managing director in July 2004.

He has over 20 years of experience in the food and beverage business and more than 30 years of experience in property development and investment in Singapore, Malaysia, Indonesia and Thailand.  AnnAik

Between May 24 and 25, Low Kheng, spouse of AnnAik executive chairman cum CEO, Ow Chin Seng, purchased 1,794,900 shares of the company for a consideration of $155,292.

At an average price of 8.7 cents per share, this increased Ow’s total interest in the manufacturer and distributor of stainless-steel products from 38.34 per cent to 38.96 per cent.

Ow is primarily responsible for the business and strategic development of the group. With over 40 years of experience in the hardware and steel industry, he has been instrumental in the strategic direction and development of the group.

With last year’s hike in steel prices, strong demand of steel products and contribution of the environmental division, AnnAik achieved an attributable profit in 2021 of S$3.09 million, compared to S$177,000 in 2020.  Dyna-Mac Holdings

On May 26, Dyna-Mac Holdings independent non-executive director Henry Tan Song Kok acquired 500,000 shares of the company at 15.7 cents per share.

With a consideration of S$78,600 this took his direct interest in the global multi-disciplinary contractor to 0.05 per cent.

Tan is also an independent director, on the boards of Asia Vets Holdings, BH Global Corporation, Penguin International and Trans-China Automotive Holdings.  LHT Holdings

On May 24, LHT Holdings managing director, Yap Mui Kee, acquired 49,500 shares of the company for a consideration of S$34,719.

At an average price of 70.1 cents per share, this took her direct interest in the manufacturer of high-quality wooden pallets, boxes, and crates from 14.89 per cent to 14.99 per cent.

Preceding acquisitions saw Yap buy 52,100 shares at 71.0 cents per share on Mar 25, 17,700 shares at 70.0 cents per share on Mar 18 and 24,600 shares of at 69.1 cents per share on Mar 7.

Yap has over 35 years of experience in sales and marketing and plays a key role in exploring opportunities in new markets.

Part of her responsibility is also to monitor market developments and streamline the company’s product development efforts according to market demands.

Yap spearheads the group’s RFID (Radio Frequency Identification) ECR Pallet Tracking System and is actively involved in its ECR (Efficient Consumer Response) pallet rental business in Singapore and Malaysia.  Oxley Holdings

On May 25, Oxley Holdings executive director and deputy CEO Eric Low See Ching acquired 50,000 shares of the company at an average price of 17.7 cents per share, at a consideration of S$8,850.

Low maintains a 28.13 per cent direct interest in Oxley Holdings and is responsible for the operation of the group, including sales and marketing, project development, business development and financial management.

Low also assists the CEO in charting and executing the strategic plans for the group.  Inside Insights is a weekly column on The Business Times, read the original version.



Centurion’s David Loh raises stake; Keppel leads buyback tally

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 <img src='https://api2.sgx.com/sites/default/files/2022-05/sharebuyback.PNG' alt='Share buyback' />
 </figure>
 <div class='content-caption'>Share buyback</div>
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For the 5 trading sessions that spanned May 13 to 19, the Straits Times Index (STI) gained 0.8 per cent, with the FTSE China A50 Index adding 0.2 per cent, the Hang Seng Index gaining 2.5 per cent and the FTSE Bursa Malaysia KLCI declining 1.0 per cent.  
Overall, institutions were net buyers of Singapore stocks over the 5 sessions with S$3.4 million of net inflow, following S$145 million of net outflow for the preceding 5 sessions. OCBC, Keppel Corporation, UOB, Singapore Exchange and Singapore Telecommunications led the net institutional inflows for the 5 sessions through to May 19. Share buybacks

There were 17 primary-listed stocks conducting share buybacks over the 5 sessions ended May 19, with a total consideration of S$67,410,124, down from the S$122.8 million for the preceding 5 sessions. 
After buying back 10 million shares on May 12, CapitaLand Investment bought back another 6,106,600 million shares at an average price of S$3.80 per share, while Keppel Corporation led the consideration tally with 3,689,000 shares bought back at an average price of S$6.69 per share.   Director and substantial shareholder transactions

The 5 trading sessions saw over 100 changes to director interests and substantial shareholdings filed for more than 40 primary-listed stocks. This included 20 company director acquisitions with 2 disposals filed, while substantial shareholders filed 8 acquisitions and 4 disposals. UOL Group

On May 12, Wee Investments acquired 200,000 shares of UOL Group at an average price of S$6.99 per share. This took the total interest in the company of UOL Group chairman Wee Cho Yaw from 38.29 per cent to 38.32 per cent. It followed Wee Investments’ acquisition of 500,000 shares also at S$6.99 per share between May 10 and 11. Wee also serves as the chairman of UOL Group, United Overseas Insurance, Haw Par Corporation and Singapore Land Group. Trans-China Automotive Holdings

On May 18, Trans-China Automotive Holdings executive chairman and CEO Francis Tjia acquired 4.0 million shares of the Catalist-listed company at 21.0 cents per share, through Octo Holdings which he wholly owns. With a consideration of S$840,000, this increased his deemed interest in the vehicle dealership group from 77.93 per cent to 78.61 per cent. Tjia has more than 20 years of experience in the industry in China. Frencken Group

On May 19, Frencken Group non-executive non-independent chairman Gooi Soon Chai acquired 200,000 shares of the company at S$1.15 per share. With a consideration of S$230,000, this took his total interest in the integrated technology solutions company from 23.48 per cent to 23.53 per cent.

It followed his acquisition of 50,000 shares on Mar 11 at S$1.53 per share. He was appointed the group’s chairman in August 2016.

Also, on May 19, Frencken Group president and executive director Dennis Au acquired 200,000 shares of the company at S$1.16 per share. This took his interest from 0.89 per cent to 0.94 per cent. His preceding acquisitions were between Mar 7 and 8, with 150,000 shares acquired at S$1.52 per share. Chip Eng Seng Corporation

On May 13, Chip Eng Seng Corporation lead independent director Abdul Jabbar bin Karam Din acquired 292,400 shares of the company at 42.0 cents per share. With a consideration of S$122,808, this took his direct interest in the homegrown property development and construction group to 0.04 per cent.

Abdul Jabbar joined the board on Feb 2, 2018 as an independent director and was appointed lead independent director in April 2021. An executive committee partner with Rajah and Tann Singapore, he heads the firm’s corporate and transactional practice. He has more than 25 years’ extensive experience in mergers and acquisitions, joint ventures, employment, banking and finance, general commercial and private client work, both local and international. Transit-Mixed Concrete

Between May 11 and 12, Transit-Mixed Concrete executive director Lee Sai Sing acquired 833,400 shares at 14.5 cents per share. With a consideration of S$120,843, this increased his direct interest in the provider of concrete pumping services and waste management, from 55.07 per cent to 55.87 per cent. His preceding acquisition was on Dec 21, with 63,400 shares acquired at 13.9 cents per share.

Lee has extensive experience in investing in unlisted and listed Asian equities and serves as independent director at Maxi-Cash Financial Services Corporation. He is involved in advising corporations in restructurings, pre-initial public offerings and initial public offerings and has worked in the fund management industry for many years in major financial institutions like GIC, BNP Paribas Private Bank and Maybank-Kim Eng.

On Apr 27, the company reported that turnover grew by 64 per cent to S$8.24 million for the year ended Feb 28, compared with S$5.01 million in the previous year. JB Foods

On May 13, JB Foods executive director Goh Lee Beng acquired 192,000 shares of the listed company for a consideration of S$95,040. At 49.5 cents per share, this took Goh’s total interest from 1.59 per cent to 1.65 per cent. JB Cocoa Group Sdn Bhd also maintains a 45.52 per cent interest in JB Foods, of which Goh has a deemed interest. This brings her total interest in JB foods to 47.17 per cent.

With over 25 years of experience in the cocoa business, she is responsible for procurement of raw materials and managing the cocoa trading positions, which includes sourcing of cocoa beans and cocoa ingredients, managing the group’s cocoa hedging book, monitoring world cocoa trends, and marketing of cocoa butter. Bonvests Holdings

Between May 11 and 17, Bonvests Holdings executive chairman and managing director Henry Ngo acquired 86,300 shares of the company for a consideration of S$82,737, at an average price of 95.9 cents per share.

The acquisition was made though Allsland, which is wholly owned by Ngo and increased his total interest in Bonvests from 83.77 per cent to 83.80 per cent. Asian Pay Television Trust

On May 17, the CEO of the trustee-manager of Asian Pay Television Trust, Brian McKinley, acquired 300,000 units at 13.3 cents per unit. With a consideration of S$39,900, this increased his direct interest in the business trust from 0.13 per cent to 0.15 per cent.

His preceding acquisitions were on Feb 28, with 200,000 units acquired at 13.7 cents per unit; Nov 19, with 200,000 units bought at 13.6 cents per unit; and on Sept 10, with 400,000 units bought at 13.1 cents per unit. Prior to his appointment as CEO in Apr 2017, McKinley was the CFO of the trustee-manager, an office he held since the listing of APTT in May 2013.

On May 13, APTT reported revenue of S$73.6 million for its Q1 2022 which was down 1.1 per cent from S$74.4 million in Q1 2021, while Ebitda declined 4.8 per cent to S$43.2 million, on higher operating expenses. Broadband revenue for Q1 2022 recorded 16.5 per cent growth from Q1 2021, with continued increases in subscribers, ARPU and revenue in both S$ and NT$.

APTT is the first listed business trust in Asia focused on pay-TV and broadband businesses, with its current investment mandate to acquire controlling interests in and to own, operate and maintain mature, cash generative pay-TV and broadband businesses in Taiwan, Hong Kong, Japan, and Singapore. Dyna-Mac Holdings

On May 13, Dyna-Mac Holdings executive director and CEO, Lim Ah Cheng acquired 168,000 shares of the company at 14.2 cents per share. With a consideration of S$23,856, this increased Lim’s direct interest in the global multi-disciplinary contractor from 0.18 per cent to 0.19 per cent.

On May 12, Dyna-Mac Holdings reported its revenue increased to S$67.5 million in Q1 2022, from S$41.1 million in Q1 2021, mainly due to higher progress achieved for the projects carried out in Q1 2022. At the same time, Q1 2022 gross profit declined by S$0.2 million to S$5.7 million, from S$5.9 million in Q1 2021, mainly due to additional variation works recognised in Q1 2021.

Lim has more than 20 years of extensive working experience in project management, commercial management, yards operations and design engineering in the Oil and Gas Industries and was a Keppel Corporation Scholarship recipient. Prior to joining Dyna-Mac Holdings, he held various senior management positions in Keppel Offshore and Marine group. Oxley Holdings

Between May 13 and 18, Oxley Holdings executive director and deputy CEO Eric Low See Ching acquired 100,000 shares of the company at an average price of 17.4 cents per share, with a consideration of S$17,435. Low maintains a 28.13 per cent direct interest in the firm and is responsible for the operation of the group including sales and marketing, project development, business development and financial management. He also assists the CEO in charting and executing strategic plans. Inside Insights is a weekly column on The Business Times,<a href="https://www.businesstimes.com.sg/companies-markets/hong-fok-continues-buybacks-as-joint-ceo-raises-stake-0"> </a><a href="https://www.businesstimes.com.sg/companies-markets/uol-trans-china-automotive-frencken-chairmen-raise-stakes">read </a>the original version.
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    Share buyback


For the 5 trading sessions that spanned May 13 to 19, the Straits Times Index (STI) gained 0.8 per cent, with the FTSE China A50 Index adding 0.2 per cent, the Hang Seng Index gaining 2.5 per cent and the FTSE Bursa Malaysia KLCI declining 1.0 per cent.   
Overall, institutions were net buyers of Singapore stocks over the 5 sessions with S$3.4 million of net inflow, following S$145 million of net outflow for the preceding 5 sessions. OCBC, Keppel Corporation, UOB, Singapore Exchange and Singapore Telecommunications led the net institutional inflows for the 5 sessions through to May 19.  Share buybacks

There were 17 primary-listed stocks conducting share buybacks over the 5 sessions ended May 19, with a total consideration of S$67,410,124, down from the S$122.8 million for the preceding 5 sessions.  
After buying back 10 million shares on May 12, CapitaLand Investment bought back another 6,106,600 million shares at an average price of S$3.80 per share, while Keppel Corporation led the consideration tally with 3,689,000 shares bought back at an average price of S$6.69 per share.    Director and substantial shareholder transactions

The 5 trading sessions saw over 100 changes to director interests and substantial shareholdings filed for more than 40 primary-listed stocks. This included 20 company director acquisitions with 2 disposals filed, while substantial shareholders filed 8 acquisitions and 4 disposals.  UOL Group

On May 12, Wee Investments acquired 200,000 shares of UOL Group at an average price of S$6.99 per share. This took the total interest in the company of UOL Group chairman Wee Cho Yaw from 38.29 per cent to 38.32 per cent. It followed Wee Investments’ acquisition of 500,000 shares also at S$6.99 per share between May 10 and 11. Wee also serves as the chairman of UOL Group, United Overseas Insurance, Haw Par Corporation and Singapore Land Group.  Trans-China Automotive Holdings

On May 18, Trans-China Automotive Holdings executive chairman and CEO Francis Tjia acquired 4.0 million shares of the Catalist-listed company at 21.0 cents per share, through Octo Holdings which he wholly owns. With a consideration of S$840,000, this increased his deemed interest in the vehicle dealership group from 77.93 per cent to 78.61 per cent. Tjia has more than 20 years of experience in the industry in China.  Frencken Group

On May 19, Frencken Group non-executive non-independent chairman Gooi Soon Chai acquired 200,000 shares of the company at S$1.15 per share. With a consideration of S$230,000, this took his total interest in the integrated technology solutions company from 23.48 per cent to 23.53 per cent.

It followed his acquisition of 50,000 shares on Mar 11 at S$1.53 per share. He was appointed the group’s chairman in August 2016.

Also, on May 19, Frencken Group president and executive director Dennis Au acquired 200,000 shares of the company at S$1.16 per share. This took his interest from 0.89 per cent to 0.94 per cent. His preceding acquisitions were between Mar 7 and 8, with 150,000 shares acquired at S$1.52 per share.  Chip Eng Seng Corporation

On May 13, Chip Eng Seng Corporation lead independent director Abdul Jabbar bin Karam Din acquired 292,400 shares of the company at 42.0 cents per share. With a consideration of S$122,808, this took his direct interest in the homegrown property development and construction group to 0.04 per cent.

Abdul Jabbar joined the board on Feb 2, 2018 as an independent director and was appointed lead independent director in April 2021. An executive committee partner with Rajah and Tann Singapore, he heads the firm’s corporate and transactional practice. He has more than 25 years’ extensive experience in mergers and acquisitions, joint ventures, employment, banking and finance, general commercial and private client work, both local and international.  Transit-Mixed Concrete

Between May 11 and 12, Transit-Mixed Concrete executive director Lee Sai Sing acquired 833,400 shares at 14.5 cents per share. With a consideration of S$120,843, this increased his direct interest in the provider of concrete pumping services and waste management, from 55.07 per cent to 55.87 per cent. His preceding acquisition was on Dec 21, with 63,400 shares acquired at 13.9 cents per share.

Lee has extensive experience in investing in unlisted and listed Asian equities and serves as independent director at Maxi-Cash Financial Services Corporation. He is involved in advising corporations in restructurings, pre-initial public offerings and initial public offerings and has worked in the fund management industry for many years in major financial institutions like GIC, BNP Paribas Private Bank and Maybank-Kim Eng.

On Apr 27, the company reported that turnover grew by 64 per cent to S$8.24 million for the year ended Feb 28, compared with S$5.01 million in the previous year.  JB Foods

On May 13, JB Foods executive director Goh Lee Beng acquired 192,000 shares of the listed company for a consideration of S$95,040. At 49.5 cents per share, this took Goh’s total interest from 1.59 per cent to 1.65 per cent. JB Cocoa Group Sdn Bhd also maintains a 45.52 per cent interest in JB Foods, of which Goh has a deemed interest. This brings her total interest in JB foods to 47.17 per cent.

With over 25 years of experience in the cocoa business, she is responsible for procurement of raw materials and managing the cocoa trading positions, which includes sourcing of cocoa beans and cocoa ingredients, managing the group’s cocoa hedging book, monitoring world cocoa trends, and marketing of cocoa butter.  Bonvests Holdings

Between May 11 and 17, Bonvests Holdings executive chairman and managing director Henry Ngo acquired 86,300 shares of the company for a consideration of S$82,737, at an average price of 95.9 cents per share.

The acquisition was made though Allsland, which is wholly owned by Ngo and increased his total interest in Bonvests from 83.77 per cent to 83.80 per cent.  Asian Pay Television Trust

On May 17, the CEO of the trustee-manager of Asian Pay Television Trust, Brian McKinley, acquired 300,000 units at 13.3 cents per unit. With a consideration of S$39,900, this increased his direct interest in the business trust from 0.13 per cent to 0.15 per cent.

His preceding acquisitions were on Feb 28, with 200,000 units acquired at 13.7 cents per unit; Nov 19, with 200,000 units bought at 13.6 cents per unit; and on Sept 10, with 400,000 units bought at 13.1 cents per unit. Prior to his appointment as CEO in Apr 2017, McKinley was the CFO of the trustee-manager, an office he held since the listing of APTT in May 2013.

On May 13, APTT reported revenue of S$73.6 million for its Q1 2022 which was down 1.1 per cent from S$74.4 million in Q1 2021, while Ebitda declined 4.8 per cent to S$43.2 million, on higher operating expenses. Broadband revenue for Q1 2022 recorded 16.5 per cent growth from Q1 2021, with continued increases in subscribers, ARPU and revenue in both S$ and NT$.

APTT is the first listed business trust in Asia focused on pay-TV and broadband businesses, with its current investment mandate to acquire controlling interests in and to own, operate and maintain mature, cash generative pay-TV and broadband businesses in Taiwan, Hong Kong, Japan, and Singapore.  Dyna-Mac Holdings

On May 13, Dyna-Mac Holdings executive director and CEO, Lim Ah Cheng acquired 168,000 shares of the company at 14.2 cents per share. With a consideration of S$23,856, this increased Lim’s direct interest in the global multi-disciplinary contractor from 0.18 per cent to 0.19 per cent.

On May 12, Dyna-Mac Holdings reported its revenue increased to S$67.5 million in Q1 2022, from S$41.1 million in Q1 2021, mainly due to higher progress achieved for the projects carried out in Q1 2022. At the same time, Q1 2022 gross profit declined by S$0.2 million to S$5.7 million, from S$5.9 million in Q1 2021, mainly due to additional variation works recognised in Q1 2021.

Lim has more than 20 years of extensive working experience in project management, commercial management, yards operations and design engineering in the Oil and Gas Industries and was a Keppel Corporation Scholarship recipient. Prior to joining Dyna-Mac Holdings, he held various senior management positions in Keppel Offshore and Marine group.  Oxley Holdings

Between May 13 and 18, Oxley Holdings executive director and deputy CEO Eric Low See Ching acquired 100,000 shares of the company at an average price of 17.4 cents per share, with a consideration of S$17,435. Low maintains a 28.13 per cent direct interest in the firm and is responsible for the operation of the group including sales and marketing, project development, business development and financial management. He also assists the CEO in charting and executing strategic plans.  Inside Insights is a weekly column on The Business Times, read the original version.



UOL, Trans-China Automotive & Frencken chairmen raise stakes

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For the 5 trading sessions that spanned May 6 to 12, the Straits Times Index (STI) declined 5.3 per cent, with the FTSE China A50 Index declining 3.4 per cent, the Hang Seng Index falling 6.1 per cent and the FTSE Bursa Malaysia KLCI dipping 2.6 per cent. 

Overall, institutions were net sellers of Singapore stocks over the 5 sessions with S$145 million of net outflow, following S$67 million of net inflow for the preceding 5 sessions. 
DBS Group Holdings, UOB, Singapore Airlines, Yangzijiang Financial Holdings and Thai Beverage led the net institutional outflows for the 5 sessions through to May 12. Meanwhile, Singapore Telecommunications, OCBC, CapitaLand Investment, Venture Corporation and ST Engineering led the net institutional inflows for the 5 sessions. Overall, the net institutional inflows into Singapore stocks in the 2022 year to May 12 totalled S$307 million. Share buybacks

There were 15 primary-listed stocks conducting share buybacks over the 5 sessions ended May 12, with a total consideration of S$122.8 million, significantly higher than the S$44.5 million for the preceding 5 sessions.

CapitaLand Investment bought back 10 million shares at an average price of S$3.79 per share.

This represented 0.19 per cent of its issued shares (excluding treasury shares), with the buyback conducted in the session immediately after the leading global real estate investment manager provided a March quarter business update. 
For the quarter, CapitaLand Investment reported Q1 FY22 revenue increased 16 per cent year on year to S$598 million on growth in the fund management and lodging management segments, in addition to disciplined capital management. Director and substantial shareholder transactions 
The 5 trading sessions saw over 100 changes to director interests and substantial shareholdings filed for more than 40 primary-listed stocks. This included 21 company director acquisitions with no disposals filed, while substantial shareholders filed 12 acquisitions and 2 disposals. UOL Group 
Between May 10 and 11, Wee Investments acquired 500,000 shares of the company at an average price of S$6.99 per share. This took the total interest of UOL Group chairman Wee Cho Yaw in the company from 38.24 per cent to 38.29 per cent. The preceding acquisitions by Wee Investments were on Mar 8 with 899,200 shares acquired at S$6.80 per share, and Mar 7 with 964,000 shares acquired at S$6.85 per share.  
At the annual general meeting held on Apr 27, UOL Group’s CEO Liam Wee Sin maintained that with Singapore decisively moving from the pandemic to the endemic stage, he was cautiously optimistic that the company would emerge stronger from the pandemic with the opening of borders. He added that Singapore’s reconnection with the world would help to restore consumer confidence and give a much-needed boost to the businesses, in particular, the tourism/hospitality sector.  Liam also maintained that the company would continue to pursue asset enhancement initiatives for its investment portfolio while leveraging on its domain knowledge to deliver strong product offerings for residential projects. Challenger Technologies 
Between May 6 and 9, Challenger Technologies executive director and CEO Loo Leong Thye increased his deemed interest in the company, with his spouse Ong Sock Hwee acquiring 863,200 shares. The shares were acquired for a consideration of S$485,811 at an average price of 56.3 cents per share. This increased Loo’s total interest in Challenger Technologies from 47.11 per cent to 47.32 per cent 
Loo is responsible for the overall management of the group. He also charts the corporate directions, strategies and policies and grew the business operations of the group in 1982 from a sole proprietorship, to its present scale. Last year the group incorporated a few subsidiaries under its wholly-owned Challenge Ventures. At the beginning of 2022, 2 of these subsidiaries turned operational. Kingdom Technologies, a builder of customised personal computers, sells its products exclusively online under the Kingdom brand name. The second subsidiary is ITEZ.SG, is an online platform that offers affordable IT equipment rental on a subscription format. Bonvests Holdings 
Between May 6 and 10, Bonvests Holdings executive chairman and managing director Henry Ngo acquired 167,200 shares of the company for a consideration of S$158,340, at an average price of 94.7 cents per share. The acquisition was made though Allsland, which is wholly owned by Ngo and increased his total interest in Bonvests Holdings from 83.73 per cent to 83.77 per cent. His preceding acquisitions were between Mar 7 and 8, with 40,700 shares acquired at 92.0 cents per share. 
Ngo is the founder of Bonvests and responsible for mapping out the corporate and growth strategy of the group, with Bonvests establishing itself as an experienced player in the property leasing and management industry for more than 30 years. The group’s revenue increased by 11.5 per cent to S$134.4 million in 2021 from S$120.6 million in 2020, mainly due to higher revenue from the hotel division. Tai Sin Electric 
Between May 4 and 10, Tai Sin Electric executive director and CEO Bernard Lim Boon Hock’s deemed interest increased in the company by 500,000 shares at 39.0 cents per share. This was due to acquisitions made by both his spouse and daughter. With a consideration of S$195,000 the acquisitions took his total interest in the company from 17.38 per cent to 17.49 per cent. This followed his acquisition of 115,300 shares in his own name at 39.0 cents per share on Mar 23. Lim has gradually increased his total interest in Tai Sin Electric from 14.82 per cent at the end of 2019 and he has been an executive director of the company since September 1997.   iFAST Corporation 
On May 11, iFAST Corporation independent director Kok Chee Wai acquired 20,000 shares of the company at S$4.69 per share. With a consideration of S$93,795, this increased his deemed interest in the wealth management Fintech platform from 0.51 per cent to 0.52 per cent. Kok has been a partner in Allen &amp; Gledhill LLP since 1998, where he is currently the co-head of the firm’s financial services department, regional energy, infrastructure &amp; projects practice, and banking &amp; finance practice. He has broad and deep experience in domestic and international financing, and general banking and finance practice includes acting for lenders and major corporates on domestic and cross-border syndicated loans, structured and acquisition financing and debt restructuring. JB Foods 
On May 9, JB Foods executive director and CEO Tey How Keong acquired 97,000 shares of the company for a consideration of S$48,015. At 49.5 cents per share, this increased his total interest in JB Foods from 46.81 per cent to 46.84 per cent. This followed his acquisitions of 82,000 shares at 49.0 cents per share on Apr 29, 29,600 shares at 47.3 cents per share on Mar 23 and 400,000 shares at 52.0 cents per share on Dec 27. JB Foods core business is in the production and sale of cocoa ingredient products, with Tey responsible for the overall strategic, management and business development of the group. He has over 25 years of experience in the cocoa business. Q&amp;M Dental Group (Singapore) 
On May 12, Q &amp; M Dental Group (Singapore) independent non-executive director Harry Ng Weng Sui acquired 70,000 shares of the company for a consideration of S$34,500, at 49.3 cents per share. This increased his total interest in the private dental healthcare group from 0.04 per cent to 0.05 per cent. Similarly, on May 14, 2021, Ng acquired 60,000 shares of the company, at 63.0 cents per share. Lendlease Global Commercial REIT 
On May 6, Lendlease Global Commercial Trust Management independent non-executive director Simon John Perrott acquired 30,800 units of Lendlease Global Commercial Reit for a consideration of S$24,640. At 80.0 cents per unit, this took his direct interest to 114,650 units. Perrott was previously the chairman of CIMB Bank Australia from 2012 to 2014 and the chairman of RBS Australia from 2009 to 2012. From 2002 to 2009, he held various roles in ABN AMRO Bank where his last held role was co-head of banking. 
In April, Lendlease Global Commercial Trust Management completed the acquisition of a 100 per cent direct interest in Jem, with the manager maintaining that the enlarged portfolio with high-quality tenants such as the Ministry of National Development, IKEA and NTUC FairPrice Extra provides strong and stable cashflow for unitholders. Oxley Holdings 
Between May 9 and 10, Oxley Holdings executive director and deputy CEO Eric Low See Ching acquired 100,000 shares of the company at an average price of 17.8 cents per share. With a consideration of S$17,750, this increased his direct interest in Oxley Holdings from 28.12 per cent to 28.13 per cent. Low is responsible for the operation of the group including sales and marketing, project development, business development and financial management. Low also assists the CEO in charting and executing the strategic plans for the group. Inside Insights is a weekly column on The Business Times,<a href="https://www.businesstimes.com.sg/companies-markets/hong-fok-continues-buybacks-as-joint-ceo-raises-stake-0"> </a><a href="https://www.businesstimes.com.sg/companies-markets/cli-leads-buyback-tally-wee-investments-ups-uol-stake">read</a><a href="https://www.businesstimes.com.sg/companies-markets/wilmar-leads-buyback-tally-yzjfh-directors-acquire-shares"> </a>the original version.
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    Share buyback


For the 5 trading sessions that spanned May 6 to 12, the Straits Times Index (STI) declined 5.3 per cent, with the FTSE China A50 Index declining 3.4 per cent, the Hang Seng Index falling 6.1 per cent and the FTSE Bursa Malaysia KLCI dipping 2.6 per cent. 

Overall, institutions were net sellers of Singapore stocks over the 5 sessions with S$145 million of net outflow, following S$67 million of net inflow for the preceding 5 sessions.  
DBS Group Holdings, UOB, Singapore Airlines, Yangzijiang Financial Holdings and Thai Beverage led the net institutional outflows for the 5 sessions through to May 12. Meanwhile, Singapore Telecommunications, OCBC, CapitaLand Investment, Venture Corporation and ST Engineering led the net institutional inflows for the 5 sessions. Overall, the net institutional inflows into Singapore stocks in the 2022 year to May 12 totalled S$307 million.  Share buybacks

There were 15 primary-listed stocks conducting share buybacks over the 5 sessions ended May 12, with a total consideration of S$122.8 million, significantly higher than the S$44.5 million for the preceding 5 sessions.

CapitaLand Investment bought back 10 million shares at an average price of S$3.79 per share.

This represented 0.19 per cent of its issued shares (excluding treasury shares), with the buyback conducted in the session immediately after the leading global real estate investment manager provided a March quarter business update.  
For the quarter, CapitaLand Investment reported Q1 FY22 revenue increased 16 per cent year on year to S$598 million on growth in the fund management and lodging management segments, in addition to disciplined capital management.  Director and substantial shareholder transactions  
The 5 trading sessions saw over 100 changes to director interests and substantial shareholdings filed for more than 40 primary-listed stocks. This included 21 company director acquisitions with no disposals filed, while substantial shareholders filed 12 acquisitions and 2 disposals.  UOL Group  
Between May 10 and 11, Wee Investments acquired 500,000 shares of the company at an average price of S$6.99 per share. This took the total interest of UOL Group chairman Wee Cho Yaw in the company from 38.24 per cent to 38.29 per cent. The preceding acquisitions by Wee Investments were on Mar 8 with 899,200 shares acquired at S$6.80 per share, and Mar 7 with 964,000 shares acquired at S$6.85 per share.   
At the annual general meeting held on Apr 27, UOL Group’s CEO Liam Wee Sin maintained that with Singapore decisively moving from the pandemic to the endemic stage, he was cautiously optimistic that the company would emerge stronger from the pandemic with the opening of borders. He added that Singapore’s reconnection with the world would help to restore consumer confidence and give a much-needed boost to the businesses, in particular, the tourism/hospitality sector.  Liam also maintained that the company would continue to pursue asset enhancement initiatives for its investment portfolio while leveraging on its domain knowledge to deliver strong product offerings for residential projects.  Challenger Technologies  
Between May 6 and 9, Challenger Technologies executive director and CEO Loo Leong Thye increased his deemed interest in the company, with his spouse Ong Sock Hwee acquiring 863,200 shares. The shares were acquired for a consideration of S$485,811 at an average price of 56.3 cents per share. This increased Loo’s total interest in Challenger Technologies from 47.11 per cent to 47.32 per cent  
Loo is responsible for the overall management of the group. He also charts the corporate directions, strategies and policies and grew the business operations of the group in 1982 from a sole proprietorship, to its present scale. Last year the group incorporated a few subsidiaries under its wholly-owned Challenge Ventures. At the beginning of 2022, 2 of these subsidiaries turned operational. Kingdom Technologies, a builder of customised personal computers, sells its products exclusively online under the Kingdom brand name. The second subsidiary is ITEZ.SG, is an online platform that offers affordable IT equipment rental on a subscription format.  Bonvests Holdings  
Between May 6 and 10, Bonvests Holdings executive chairman and managing director Henry Ngo acquired 167,200 shares of the company for a consideration of S$158,340, at an average price of 94.7 cents per share. The acquisition was made though Allsland, which is wholly owned by Ngo and increased his total interest in Bonvests Holdings from 83.73 per cent to 83.77 per cent. His preceding acquisitions were between Mar 7 and 8, with 40,700 shares acquired at 92.0 cents per share.  
Ngo is the founder of Bonvests and responsible for mapping out the corporate and growth strategy of the group, with Bonvests establishing itself as an experienced player in the property leasing and management industry for more than 30 years. The group’s revenue increased by 11.5 per cent to S$134.4 million in 2021 from S$120.6 million in 2020, mainly due to higher revenue from the hotel division.  Tai Sin Electric  
Between May 4 and 10, Tai Sin Electric executive director and CEO Bernard Lim Boon Hock’s deemed interest increased in the company by 500,000 shares at 39.0 cents per share. This was due to acquisitions made by both his spouse and daughter. With a consideration of S$195,000 the acquisitions took his total interest in the company from 17.38 per cent to 17.49 per cent. This followed his acquisition of 115,300 shares in his own name at 39.0 cents per share on Mar 23. Lim has gradually increased his total interest in Tai Sin Electric from 14.82 per cent at the end of 2019 and he has been an executive director of the company since September 1997.    iFAST Corporation  
On May 11, iFAST Corporation independent director Kok Chee Wai acquired 20,000 shares of the company at S$4.69 per share. With a consideration of S$93,795, this increased his deemed interest in the wealth management Fintech platform from 0.51 per cent to 0.52 per cent. Kok has been a partner in Allen &amp; Gledhill LLP since 1998, where he is currently the co-head of the firm’s financial services department, regional energy, infrastructure &amp; projects practice, and banking &amp; finance practice. He has broad and deep experience in domestic and international financing, and general banking and finance practice includes acting for lenders and major corporates on domestic and cross-border syndicated loans, structured and acquisition financing and debt restructuring.  JB Foods  
On May 9, JB Foods executive director and CEO Tey How Keong acquired 97,000 shares of the company for a consideration of S$48,015. At 49.5 cents per share, this increased his total interest in JB Foods from 46.81 per cent to 46.84 per cent. This followed his acquisitions of 82,000 shares at 49.0 cents per share on Apr 29, 29,600 shares at 47.3 cents per share on Mar 23 and 400,000 shares at 52.0 cents per share on Dec 27. JB Foods core business is in the production and sale of cocoa ingredient products, with Tey responsible for the overall strategic, management and business development of the group. He has over 25 years of experience in the cocoa business.  Q&amp;M Dental Group (Singapore)  
On May 12, Q &amp; M Dental Group (Singapore) independent non-executive director Harry Ng Weng Sui acquired 70,000 shares of the company for a consideration of S$34,500, at 49.3 cents per share. This increased his total interest in the private dental healthcare group from 0.04 per cent to 0.05 per cent. Similarly, on May 14, 2021, Ng acquired 60,000 shares of the company, at 63.0 cents per share.  Lendlease Global Commercial REIT  
On May 6, Lendlease Global Commercial Trust Management independent non-executive director Simon John Perrott acquired 30,800 units of Lendlease Global Commercial Reit for a consideration of S$24,640. At 80.0 cents per unit, this took his direct interest to 114,650 units. Perrott was previously the chairman of CIMB Bank Australia from 2012 to 2014 and the chairman of RBS Australia from 2009 to 2012. From 2002 to 2009, he held various roles in ABN AMRO Bank where his last held role was co-head of banking.  
In April, Lendlease Global Commercial Trust Management completed the acquisition of a 100 per cent direct interest in Jem, with the manager maintaining that the enlarged portfolio with high-quality tenants such as the Ministry of National Development, IKEA and NTUC FairPrice Extra provides strong and stable cashflow for unitholders.  Oxley Holdings  
Between May 9 and 10, Oxley Holdings executive director and deputy CEO Eric Low See Ching acquired 100,000 shares of the company at an average price of 17.8 cents per share. With a consideration of S$17,750, this increased his direct interest in Oxley Holdings from 28.12 per cent to 28.13 per cent. Low is responsible for the operation of the group including sales and marketing, project development, business development and financial management. Low also assists the CEO in charting and executing the strategic plans for the group.  Inside Insights is a weekly column on The Business Times, read the original version.



CLI leads buyback tally, Wee Investments ups UOL stake

<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd">
<html><body>#whatstrending Ever wondered what is currently driving the local and regional markets? This new report series address some of the most trending questions/topics on the markets for investors. Designed to be educational, expect to get factual information on what is driving sectors and stocks listed on SGX Q: Singapore has announced further easing of border restrictions and stepped down DORSCON level from orange to yellow. How has this impacted the local equities market? 
Following the reopening of Singapore’s borders to all fully vaccinated travellers from 1 April 2022, Civil Aviation Authority of Singapore (CAAS) reported that air passenger traffic in Singapore reached 400,000 or 31% of pre-COVID levels in the week ending 17 April 2022, up from 18% a month ago. Transport Minister S Iswaran on 4 May stated Changi Airport passenger volumes has more than doubled to reach close to 40% of pre-COVID levels in end-April, up from 18% in March and on track to at least 50% of pre-COVID levels by this year. 
SIA also reported significant increase in passenger demand in its March operating results. The Group carried 893k passengers in March, a 792.1% YoY increase. Its group passenger capacity reached 51% of pre-COVID levels, and expects passenger capacity to reach 61% of pre-COVID levels by May 2022. 
We observed outperformance in the year-to-date for a number of reopening proxies including SATS, SIA, ComfortDelGro, Genting Singapore and SIA Engineering. These five stocks average total returns of 10.6%, outperforming STI’s +7.1% total returns YTD (as of 6 May ’22). On a funds flow perspective, these stocks saw a combined net institutional inflows of S$84.8 million in the YTD. 
The easing of measures also had an impact on the F&amp;B industry in Singapore. The top five actively traded SGX F&amp;B stocks with Singapore exposure are: Jumbo, Japan Foods, Pavillion, RE&amp;S and Kimly. Investors’ focus would be on Singapore’s F&amp;B service sales data for April. 
In the REITs Sector, SGX lists four stapled trusts and one REIT with significant exposure to Singapore hotels who may potentially benefit from reopening borders  - Ascott, CDL HT, Far East HT, Frasers HT, and OUE CREIT. These five trusts generated average total returns of 16.9% YTD (as of 6 May ’22). S-REITs with exposure to Singapore office assets as employees head back to office - Keppel REIT, CICT, Suntec REIT, MCT, and OUE CREIT.</body></html>

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 <img src='https://api2.sgx.com/sites/default/files/2022-05/Capture%201_0.PNG' alt='Mar 22 Changi Airport' />
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 <div class='content-caption'>Mar 22 Changi Airport</div>
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Q: Rate hikes to combat inflation continues to be a focus on investors globally. How is this impacting the markets? Which are the sectors which may see direct impact? 
The 16 March FOMC rate hike was in-line with market’s expectations. At the recent May FOMC, the Fed raised rates by 50bps, with a 75bps hike at the next meeting ruled out for now. Quantitative tightening will begin, with the Fed allowing up to US$47.5 billion/month in combined US treasuries and mortgage-backed securities to run off the balance sheet, increasing to US$95 billion after 3 months 
Rates sensitive sectors such as Financials and REITs typically come into investors’ minds during rate hike/cut cycles.

<ul>
<li>Notably, Singapore Banks – DBS (D05), OCBC (O39), and UOB (U11) has seen an average 7.2% gains since the start of heightened volatility in the markets (8 March), outperforming global banks and the STI. In the same period, the FTSE ST All-Share Index also saw total returns of +5.7%. 
	 </li>
	<li>REITs depend on borrowings/debt to help finance their asset purchases. Higher rates may impact their borrowing costs and dividend distributions. As a reminder, most of the S-REITs have gearing ratios (i.e. total debt/percentage of total assets) of c. 37%, below the regulatory limit of 50%. Further, S-REITs have, on average, also pegged more than 70% of their debt at fixed rates. Notably in this current rate hike environment, the sector (FTSE ST REIT Index) saw total returns of +6.4% from the year-low seen in late January.</li>
</ul>
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<figure>
 <img src='https://api2.sgx.com/sites/default/files/2022-05/Capture%202.PNG' alt='SREIT historical ' />
 </figure>
 <div class='content-caption'>SREIT historical </div>


#whatstrending  Ever wondered what is currently driving the local and regional markets? This new report series address some of the most trending questions/topics on the markets for investors. Designed to be educational, expect to get factual information on what is driving sectors and stocks listed on SGX  Q: Singapore has announced further easing of border restrictions and stepped down DORSCON level from orange to yellow. How has this impacted the local equities market?  
Following the reopening of Singapore’s borders to all fully vaccinated travellers from 1 April 2022, Civil Aviation Authority of Singapore (CAAS) reported that air passenger traffic in Singapore reached 400,000 or 31% of pre-COVID levels in the week ending 17 April 2022, up from 18% a month ago. Transport Minister S Iswaran on 4 May stated Changi Airport passenger volumes has more than doubled to reach close to 40% of pre-COVID levels in end-April, up from 18% in March and on track to at least 50% of pre-COVID levels by this year.  
SIA also reported significant increase in passenger demand in its March operating results. The Group carried 893k passengers in March, a 792.1% YoY increase. Its group passenger capacity reached 51% of pre-COVID levels, and expects passenger capacity to reach 61% of pre-COVID levels by May 2022.  
We observed outperformance in the year-to-date for a number of reopening proxies including SATS, SIA, ComfortDelGro, Genting Singapore and SIA Engineering. These five stocks average total returns of 10.6%, outperforming STI’s +7.1% total returns YTD (as of 6 May ’22). On a funds flow perspective, these stocks saw a combined net institutional inflows of S$84.8 million in the YTD.  
The easing of measures also had an impact on the F&amp;B industry in Singapore. The top five actively traded SGX F&amp;B stocks with Singapore exposure are: Jumbo, Japan Foods, Pavillion, RE&amp;S and Kimly. Investors’ focus would be on Singapore’s F&amp;B service sales data for April.  
In the REITs Sector, SGX lists four stapled trusts and one REIT with significant exposure to Singapore hotels who may potentially benefit from reopening borders  - Ascott, CDL HT, Far East HT, Frasers HT, and OUE CREIT. These five trusts generated average total returns of 16.9% YTD (as of 6 May ’22). S-REITs with exposure to Singapore office assets as employees head back to office - Keppel REIT, CICT, Suntec REIT, MCT, and OUE CREIT.


      
    
    Mar 22 Changi Airport


Q: Rate hikes to combat inflation continues to be a focus on investors globally. How is this impacting the markets? Which are the sectors which may see direct impact?  
The 16 March FOMC rate hike was in-line with market’s expectations. At the recent May FOMC, the Fed raised rates by 50bps, with a 75bps hike at the next meeting ruled out for now. Quantitative tightening will begin, with the Fed allowing up to US$47.5 billion/month in combined US treasuries and mortgage-backed securities to run off the balance sheet, increasing to US$95 billion after 3 months  
Rates sensitive sectors such as Financials and REITs typically come into investors’ minds during rate hike/cut cycles.


Notably, Singapore Banks – DBS (D05), OCBC (O39), and UOB (U11) has seen an average 7.2% gains since the start of heightened volatility in the markets (8 March), outperforming global banks and the STI. In the same period, the FTSE ST All-Share Index also saw total returns of +5.7%. 
	 
	REITs depend on borrowings/debt to help finance their asset purchases. Higher rates may impact their borrowing costs and dividend distributions. As a reminder, most of the S-REITs have gearing ratios (i.e. total debt/percentage of total assets) of c. 37%, below the regulatory limit of 50%. Further, S-REITs have, on average, also pegged more than 70% of their debt at fixed rates. Notably in this current rate hike environment, the sector (FTSE ST REIT Index) saw total returns of +6.4% from the year-low seen in late January.




      
    
    SREIT historical 

Navigating global reopening and rate hikes

Singapore

United Overseas Bank Limited provides a wide range of financial services including personal financial services, wealth management, private banking, commercial and corporate banking, transaction banking, investment banking, corporate finance, capital market activities, treasury services, futures broking, asset management, venture capital management and insurance.

DBS Group Holdings Limited and its subsidiaries provide a variety of financial services.  The Company offers services including mortgage financing, lease and hire purchase financing, nominee and trustee, funds management, corporate advisory and brokerage .  DBS Group also acts as the primary dealer in Singapore government securities.

Singapore Exchange Limited owns and operates Singapore's Securities and derivatives exchange and their related clearing houses.  The Company also provides ancillary securities processing and information technology services to participants in the financial sector.

Great Eastern Holdings Limited operates in the life insurance business. The Company provides fund management services including retirement plans and endowments as well as life and health insurance, personal accident insurance, and general insurance

UOB-Kay Hian Holdings Limited is an investment holding company whose subsidiaries provide management services.  The Company provides stock broking, futures broking, investment trading, nominee services, margin financing, and research activities.

Hong Leong Finance Limited provides depository and financing services to its clients.  The Company's services include hire purchase, leasing, factoring, mortgages, and other secured loans in the commercial, industrial, and consumer sectors.

Yangzijiang Financial Holding Ltd operates as an investment holding company. The Company serves customers in Singapore.

Pacific Century Regional Developments Limited operates in the holding of investments and development of infrastructure and properties.

Pacific Century Regional Developments (PAC SP)

Valuemax Group Ltd. operates pawnshops. The Company provides the valuation of products for pawning, selling and buying through its outlet stores..

G. K. Goh Holdings Limited is a diversified investment holding company with significant exposure to the aged care industry, corporate and business services, property development and fibre networks.

Kotak Mahindra Bank Limited is a full service commercial bank. The Bank offers a wide range of products and services such as personal, commercial, and corporate banking services, including deposit accounts, loans, and investments. Kotak Mahindra Bank serves customers in India.

Fifth Third Bancorp is a diversified financial services company that operates banking centers in the Midwestern and Southeastern regions of the United States. The Company's principal businesses include retail banking, commercial banking, investment advisory, and data processing.

Mizuho Financial Group, Inc. provides comprehensive financial services through its subsidiaries. The Group provides variety of financial services such as general banking, securities brokerage, trust banking, and assets management.

PNC Financial Services Group, Inc. is a diversified financial services organization.  The Company provides regional banking, wholesale banking, and asset management services nationally and in the Company's primary regional markets.

BOC Hong Kong (Holdings) Limited provides a comprehensive range of financial products and services to retail and corporate customers.  Its products include retail banking, corporate banking, and treasury services.  The Company operates its branches in Hong Kong and China.

PT Bank Mandiri (Persero) Tbk is formed by the merger of four state-owned banks, namely Pt Bank Bumi Daya, PT Bank Dagang Negara, PT Bank Ekspor Import Indonesia (Bank Exim), PT Bank Pembangunan Indonesia (Bank Bapindo). The Bank operates in the commercial banking services.

Westpac Banking Corporation offers general and savings banking services.  The Company provides investment portfolio management and advice, insurance services,  consumer finance, and money market services among other services.  Westpac Banking Corp. serves individuals, businesses, and corporations worldwide.

PT Bank Rakyat Indonesia (Persero) Tbk provides commercial banking activities and its related services. The Bank also provides banking activities based on shariah principles.

Bank of Nova Scotia provides retail, commercial, international, corporate, investment and private banking services and products.

Shanghai Pudong Development Bank Co., Ltd. provides banking services. The Company provides loans, deposits, accounts settlement, foreign exchange, and other services. Shanghai Pudong Development Bank provides its services to individuals, companies, and other groups.

Shanghai Pudong Development Bank Co. (600000 CH)

Oversea-Chinese Banking Corporation Limited offers a comprehensive range of financial services.  The Company's services include deposit-taking, corporate, enterprise and personal lending, international trade financing, investment banking, private banking, treasury, stockbroking, insurance, credit cards, cash management, asset management and other financial and related services.

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OCBC (OCBC SP)

STI Maintains 5.5% YTD Total Return as Economy Grew 3.7% in 1Q22

Singapore’s 1Q22 GDP expanded 3.7% YoY, continuing the above trend momentum seen in 2021 with 7.6% growth. The GDP forecast for the full 2022...

Singapore Exchange Ltd (SGX)

Centurion’s David Loh raises stake; Keppel leads buyback tally

For the 5 trading sessions that spanned May 20 to 26, the Straits Times Index (STI) gained 0.6 per cent, with the FTSE China...

Singapore Exchange Ltd (SGX)

UOL, Trans-China Automotive & Frencken chairmen raise stakes

For the 5 trading sessions that spanned May 13 to 19, the Straits Times Index (STI) gained 0.8 per cent, with the FTSE China...

Singapore Exchange Ltd (SGX)

CLI leads buyback tally, Wee Investments ups UOL stake

For the 5 trading sessions that spanned May 6 to 12, the Straits Times Index (STI) declined 5.3 per cent, with the FTSE China...

Singapore Exchange Ltd (SGX)

Navigating global reopening and rate hikes

#whatstrendingEver wondered what is currently driving the local and regional markets? This new report series address some of the most trending...

Singapore Exchange Ltd (SGX)

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