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

Yangzijiang Shipbuilding / Equity Bottom-Up

<ul><li>Institutions were net sellers of Singapore stocks over the five trading sessions to Aug 1, with S$115 million of net institutional outflow, following the similar pace of S$95 million of net outflow for the preceding five sessions to Jul 26.</li><li>The five sessions to Aug 1 also saw 11 primary-listed companies conduct buybacks with a total consideration of S$6.4 million.</li><li>For context, in FY2023 and FY2022, the net profit attributable to shareholders came to S$8.3 million and $13.4 million, respectively.</li></ul>

Institutions were net sellers of Singapore stocks over the five trading sessions to Aug 1, with S$115 million of net institutional outflow, following the similar pace of S$95 million of net outflow for the preceding five sessions to Jul 26.The five sessions to Aug 1 also saw 11 primary-listed companies conduct buybacks with a total consideration of S$6.4 million.For context, in FY2023 and FY2022, the net profit attributable to shareholders came to S$8.3 million and $13.4 million, respectively.

Mapletree Logistics Trust chairman increases interest at S$1.31 per unit

<ul><li>Centurion CEO Kong Chee Min adds to interest at S$0.59 per share CapitaLand Investment led the buyback consideration tally, acquiring 8,312,600 shares at an average price of S$2.64 per share.</li><li>On Jul 4, Centurion Corp CEO Kong Chee Min acquired 115,000 shares, at an average price of S$0.59 cents per share.</li></ul>

Centurion CEO Kong Chee Min adds to interest at S$0.59 per share CapitaLand Investment led the buyback consideration tally, acquiring 8,312,600 shares at an average price of S$2.64 per share.On Jul 4, Centurion Corp CEO Kong Chee Min acquired 115,000 shares, at an average price of S$0.59 cents per share.

Centurion CEO Kong Chee Min adds to interest at S$0.59 per share

Investment Research - Asia Consumer Sector, Investory

Devi Subhakesan

Investment Research - Asia Consumer Sector

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

Thematic (Sector/Industry)

<ul>
<li>Welcome to <strong><em>Consumer Tales &amp; Trends</em></strong>, your weekly roundup of the latest corporate developments, investment reports and sector events in the consumer industry.</li>
<li>
<a href="https://www.smartkarma.com/entities/jollibee-foods-corp" target="_blank" data-smartkarma-citation="entities:987:1" rel="noopener">Jollibee Foods (JFC PM)</a> dives into Korea's coffee war zone with a new acquisition. But with expensive funding, selling cheap coffee isn't so cool anymore.</li>
<li>Tiger Balm, the beloved pain relief elixir, is under valued in its holding-company, <a href="https://www.smartkarma.com/entities/haw-par-corp-ltd" target="_blank" data-smartkarma-citation="entities:9898:1" rel="noopener">HawPar Corp</a> . In an aging world full of aches, it's time to let Tiger Balm roar!</li>
</ul>


Welcome to Consumer Tales &amp; Trends, your weekly roundup of the latest corporate developments, investment reports and sector events in the consumer industry.

Jollibee Foods (JFC PM) dives into Korea's coffee war zone with a new acquisition. But with expensive funding, selling cheap coffee isn't so cool anymore.
Tiger Balm, the beloved pain relief elixir, is under valued in its holding-company, HawPar Corp . In an aging world full of aches, it's time to let Tiger Balm roar!


Consumer Tales & Trends #July 1-10: Korea Coffee War, Crazy Rich Asians & More

<ul>
<li>
<a href="https://www.smartkarma.com/entities/haw-par-corp-ltd" target="_blank" data-smartkarma-citation="entities:9898:1" rel="noopener">Haw Par Corp (HPAR SP)</a>, with a rich investment portfolio and an attractive consumer health care business, trades at 4% dividend yield but at a steep discount to SOTP value.</li>
<li>The recent rise in share price of <a href="https://www.smartkarma.com/entities/united-overseas-bank-ltd" target="_blank" data-smartkarma-citation="entities:113:1" rel="noopener">UOB (UOB SP)</a> , where it holds a 4.5% stake, has widened this discount.</li>
<li>We believe the management can unlock immense value for share holders by de-merging the consumer healthcare business and publicly listing it.</li>
</ul>



Haw Par Corp (HPAR SP), with a rich investment portfolio and an attractive consumer health care business, trades at 4% dividend yield but at a steep discount to SOTP value.
The recent rise in share price of UOB (UOB SP) , where it holds a 4.5% stake, has widened this discount.
We believe the management can unlock immense value for share holders by de-merging the consumer healthcare business and publicly listing it.


Haw Par Corp (HPAR SP): Unleash the Tiger, Unlock Shareholder Value

Alpha-Centric ESG Research

Kyle Rudden

<ul><li>Singapore's major banks – DBS, OCBC, and UOB – have set sector-specific emissions targets for indirect emissions related to financial activities, known as Scope 3 "financed" emissions.</li><li>Collectively, these sector targets span ten carbon-intensive sectors, represent S$200+ billion in corporate loan portfolios, and cover the majority of the banks' total financed emissions.</li><li>Financed emissions targets facilitate decarbonisation of emissions-intensive clients, reducing climate-related risks and creating opportunities for new and innovative financial products.</li></ul>

Singapore's major banks – DBS, OCBC, and UOB – have set sector-specific emissions targets for indirect emissions related to financial activities, known as Scope 3 "financed" emissions.Collectively, these sector targets span ten carbon-intensive sectors, represent S$200+ billion in corporate loan portfolios, and cover the majority of the banks' total financed emissions.Financed emissions targets facilitate decarbonisation of emissions-intensive clients, reducing climate-related risks and creating opportunities for new and innovative financial products.

Singapore Banks and Financed Emissions: DBS, OCBC, and UOB

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.

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UOB (UOB SP)

Mapletree Logistics Trust chairman increases interest at S$1.31 per unit

Institutions were net sellers of Singapore stocks over the five trading sessions to Aug 1, with S$115 million of net institutional outflow,...

Singapore Exchange Ltd (SGX)

Consumer Tales & Trends #July 1-10: Korea Coffee War, Crazy Rich Asians & More

Consumer Tales & Trends, your weekly roundup of the latest corporate developments, investment reports and sector events in the consumer industry.

Devi Subhakesan

Haw Par Corp (HPAR SP): Unleash the Tiger, Unlock Shareholder Value

Haw Par Corp's discount to NAV has widened, even with a 4% dividend yield. Discover the potential value unlock if its consumer healthcare business...

Devi Subhakesan

Singapore Banks and Financed Emissions: DBS, OCBC, and UOB

Singapore's major banks – DBS, OCBC, and UOB – have set sector-specific emissions targets for indirect emissions related to financial activities,...

Kyle Rudden

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Mapletree Logistics Trust chairman increases interest at S$1.31 per unit

Institutions were net sellers of Singapore stocks over the five trading sessions to Aug 1, with S$115 million of net institutional outflow,...

Singapore Exchange Ltd (SGX)

Centurion CEO Kong Chee Min adds to interest at S$0.59 per share

Centurion CEO Kong Chee Min adds to interest at S$0.59 per share CapitaLand Investment led the buyback consideration tally, acquiring 8,312,600...

Singapore Exchange Ltd (SGX)

Consumer Tales & Trends #July 1-10: Korea Coffee War, Crazy Rich Asians & More

Consumer Tales & Trends, your weekly roundup of the latest corporate developments, investment reports and sector events in the consumer industry.

Devi Subhakesan

Haw Par Corp (HPAR SP): Unleash the Tiger, Unlock Shareholder Value

​Haw Par Corp's discount to NAV has widened, even with a 4% dividend yield. Discover the potential value unlock if its consumer healthcare business...

Devi Subhakesan

Singapore Banks and Financed Emissions: DBS, OCBC, and UOB

Singapore's major banks – DBS, OCBC, and UOB – have set sector-specific emissions targets for indirect emissions related to financial activities,...

Kyle Rudden

Haw Par Corp's discount to NAV has widened, even with a 4% dividend yield. Discover the potential value unlock if its consumer healthcare business...