Asia Ex-J Consumer/ Transport analyst

Valerie Law, CFA

Thematic (Sector/Industry)

<p>There were a couple of news items this week that convinced me that the Singapore government will not protect traditional businesses or practices, from disruption. Even the Singapore government has started to shift its career-advancement practices (<a href="http://www.straitstimes.com/singapore/civil-servants-no-longer-grouped-by-education-level" target="_blank">civil servants no longer grouped by educational level</a>) and the channels it propagates messages. </p><p>1. <strong>First, a headline that can't be missed</strong>:  On Wednesday (22 February), the Business Times headline screams: Signal goes out to struggling firms: <strong>Buck up -</strong>…</p>

There were a couple of news items this week that convinced me that the Singapore government will not protect traditional businesses or practices, from disruption. Even the Singapore government has started to shift its career-advancement practices (civil servants no longer grouped by educational level) and the channels it propagates messages. 1. First, a headline that can't be missed:  On Wednesday (22 February), the Business Times headline screams: Signal goes out to struggling firms: Buck up -…

Singapore: Traditional Firms Must Disrupt Themselves or The Market Will Do It

Deciphering real estate markets globally., Rems Advisors

TAN Kok Keong

Deciphering real estate markets globally.

Rems Advisors

<p>The Grandeur Park Residences was launched over the weekend and was met with overwhelming response. It was reported in The Straits Times that more than 10,000 people visited the showflat over the weekend. One of the sale agents shared that the longest queueing time to view the showflat was up to 20 mins.</p><h2>About the project</h2><p>The project is developed by CEL Development, the same developer as High Park Residences, which is one of the best-selling projects in 2015. Grandeur Park has 720 units and two…</p>

The Grandeur Park Residences was launched over the weekend and was met with overwhelming response. It was reported in The Straits Times that more than 10,000 people visited the showflat over the weekend. One of the sale agents shared that the longest queueing time to view the showflat was up to 20 mins.About the projectThe project is developed by CEL Development, the same developer as High Park Residences, which is one of the best-selling projects in 2015. Grandeur Park has 720 units and two…

10,000 Visitors to a New Launch in 2 Days

<div><h2>Private Residential Primary Sales Status (Excluding Executive Condominiums)</h2></div><p>Singapore primary home sales in January saw a slight improvement after two consecutive months of decline. Developers sold a total of 381 units of new homes in January, a slight increase of 4% month-on-month and 18% year-on-year (see Figure 1). This may due to the higher number of units launched for sale in the month. Developers released another 108 units into the market in January, 20% more than the previous month but…</p>

Private Residential Primary Sales Status (Excluding Executive Condominiums)Singapore primary home sales in January saw a slight improvement after two consecutive months of decline. Developers sold a total of 381 units of new homes in January, a slight increase of 4% month-on-month and 18% year-on-year (see Figure 1). This may due to the higher number of units launched for sale in the month. Developers released another 108 units into the market in January, 20% more than the previous month but…

Singapore Primary Home Sales Inched Up 4% in January

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.

<ul>
<li><strong>SGX’s Real Estate Developers and Operators have returned 12% YTD, outperforming the STI’s +8%. Despite the rally, the price-to-book ratio of the Sector is still trading near one standard deviation below its historical mean.</strong></li>
<li>
<strong>Potential drivers for the Singapore property market exist on both the supply and demand front. The biggest Real Estate Developer stocks with substantial Singapore exposure include UOL Group, United Industrial Corporation, Wheelock Properties, Wing Tai Holdings and Bukit</strong>…</li>
</ul>


SGX’s Real Estate Developers and Operators have returned 12% YTD, outperforming the STI’s +8%. Despite the rally, the price-to-book ratio of the Sector is still trading near one standard deviation below its historical mean.

Potential drivers for the Singapore property market exist on both the supply and demand front. The biggest Real Estate Developer stocks with substantial Singapore exposure include UOL Group, United Industrial Corporation, Wheelock Properties, Wing Tai Holdings and Bukit…


Real Estate Sector Outperformed in the Year to Date

Special Situations, Content Strategist, Smartkarma

Crispin Francis

Special Situations, Content Strategist

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<p>The numbers are in; industrial S-REITs/Trusts ("SREITs") have reported their most recent quarterly results. In this piece, we look at the mid-sized industrial SREITs' 2016 financial performance and compare the figures to that of 2015. From the results, it is clear that headwinds in the sector have not left any unscathed. </p>

The numbers are in; industrial S-REITs/Trusts ("SREITs") have reported their most recent quarterly results. In this piece, we look at the mid-sized industrial SREITs' 2016 financial performance and compare the figures to that of 2015. From the results, it is clear that headwinds in the sector have not left any unscathed. 

SREIT M&A Season; Is The Writing on the Wall?

Singapore

City Developments Limited is a property developer and owner. The Company, through its subsidiaries, are principally engaged in the investment of properties and shares, property management, project management and the provision of consultancy services, hospitality-related information technology, and procurement services. City Developments has a global presence.

Frasers Property Limited provides real estate ownership and development services. The Company engages in the development of land, housing projects, apartments, as well as commercial, industrial, and retail properties. Frasers Property serves customers globally.

Singapore Land Group Limited operates as a real estate company. The Company develops and invests in properties, and provides property management, information technology, development management and consultancy services, as well as trades in computers and related products, and invests in hotels and retail centers. Singapore Land Group serves clients in Singapore.

Ascendas India Trust is a business trust that invests in real estate. The trust acquires, owns, and develops land for business use.

GuocoLand Limited is a regional property company with operations in Singapore, China, Malaysia and Vietnam. Headquartered in Singapore, the principal business activities of GuocoLand and its subsidiaries (“the Group”) are property development, property investment, hotel operations and property management.

Ho Bee Land Limited develops and invests in real estate properties in Singapore and United Kingdom.  The Company also operates hotels.

Wing Tai Holdings Limited is an investment holding company whose subsidiaries invest in and develop properties, manufacture woven labels, and trade garments and architectural products and accessories.  The Company also provides management services and operates restaurants.

First Sponsor Group Limited, an investment holding company, is engaged in the property development and investment activities primarily in the People's Republic of China. Its properties include residential and commercial properties.

Yanlord Land Group Ltd is a real estate development company. The Company develops high-end residential property projects in the Peoples Republic of China.

Bukit Sembawang Estates Limited, through its subsidiaries, operates in property development, property mortgage financing, and the holding of properties and investments. The Company provides residential property development throughout Singapore.

AEON Mall Co., Ltd. develops, manages, and maintains large-scale shopping malls throughout Japan. The Company develops shopping malls, rent the space, manages and maintains the shopping malls.

Highwealth Construction Corp. develops and sells residential and commercial buildings which are constructed by independent construction contractors.

Brigade Enterprises Limited operates as a real estate development company. The Company focuses on the development of residential, commercial, and hospitality properties.

China World Trade Center Co., Ltd. provides real estate services. The Company operates office building leasing business, shopping mall leasing business, apartment leasing business, hotel management business, and other related businesses. China World Trade Center offers services in China.

Tokyo Tatemono Co., Ltd. develops, sells, and leases commercial buildings, condominiums, and houses.   The Company also develops and manages hotels, vacation houses, leisure facilities, and resort places.

Lendlease Group designs, develops, and manages property and infrastructure assets. The Company constructs apartments, commercial buildings, government offices, retirement living, and educational facilities. Lendlease serves customers worldwide.

I-Sunny Construction & Development Co., Ltd. develops and sells real estate properties.

Isunny Construction&Development (2540 TT)

C&D International Investment Group Limited is a green building property development and management company based in Hong Kong.

Hangzhou Binjiang Real Estate Group Co., Ltd. develops and sells real estate properties. The Company also manages and operates hotels.

Hangzhou Binjiang Real Estate Grp (002244 CH)

Open House Co.,Ltd. provides real estate services. The Company offers services including renting, buying, selling and appraising real estate.

UOL Group Limited is a property company. The Company has a diversified portfolio of development and investment properties, hotels, and serviced suites. UOL Group, through its subsidiary owns a portfolio of commercial assets and hotels. UOL Group operates in Asia, Oceania, and North America.

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UOL Group (UOL SP)

Singapore: Traditional Firms Must Disrupt Themselves or The Market Will Do It

There were a couple of news items this week that convinced me that the Singapore government will not protect traditional businesses or...

Valerie Law, CFA

10,000 Visitors to a New Launch in 2 Days

The Grandeur Park Residences was launched over the weekend and was met with overwhelming response. It was reported in The Straits Times that more...

TAN Kok Keong

Singapore Primary Home Sales Inched Up 4% in January

Private Residential Primary Sales Status (Excluding Executive Condominiums)Singapore primary home sales in January saw a slight improvement after...

TAN Kok Keong

Real Estate Sector Outperformed in the Year to Date

SGX’s Real Estate Developers and Operators have returned 12% YTD, outperforming the STI’s +8%. Despite the rally, the price-to-book ratio of the...

Singapore Exchange Ltd (SGX)

SREIT M&A Season; Is The Writing on the Wall?

The numbers are in; industrial S-REITs/Trusts ("SREITs") have reported their most recent quarterly results. In this piece, we look at the mid-sized...

Crispin Francis

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