APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

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

Research Reinvented

Equity Capital Markets

Dm Wenceslao And Associates / Equity Capital Markets

<div class="content-highlight"><h2>Summary from previous <a href="https://www.smartkarma.com/insights/dm-wenceslao-pre-ipo-review-a-bet-on-aseana-city" target="_blank">Insight</a>
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<a href="https://www.smartkarma.com/entities/26806" target="_blank" data-smartkarma-citation="entities:26806:1">Dm Wenceslao And Associates (DMW PM)</a> 's large land bank in Aseana City at a low cost gives the company an advantage over other larger property developers in such as Ayala Land and SM Prime.</li>
<li>The company has been able to diversify its revenue stream away from rental income by selling its non-core land holdings and converting the remaining into investment properties for residential and commercial purposes.</li>
<li>Visibility in future growth can be seen clearly from its…</li>
</ul>

Summary from previous Insight


Dm Wenceslao And Associates (DMW PM) 's large land bank in Aseana City at a low cost gives the company an advantage over other larger property developers in such as Ayala Land and SM Prime.
The company has been able to diversify its revenue stream away from rental income by selling its non-core land holdings and converting the remaining into investment properties for residential and commercial purposes.
Visibility in future growth can be seen clearly from its…


DM Wenceslao IPO Review - Priced To Reflect Concentration Risk

<p><a href="https://www.smartkarma.com/entities/26806" target="_blank" data-smartkarma-citation="entities:26806:1">Dm Wenceslao And Associates (DMW PM)</a> is looking to raise approximately US$300m in its upcoming IPO. Proceeds raised will be mainly used to fund the development of its pipeline projects, obtain land assets through potential share acquisitions.</p><p>In this insight, we will look at the company's financial and operational performance in the past three years, its different business segments, and compare it against other Philippines-listed property developers. </p>

Dm Wenceslao And Associates (DMW PM) is looking to raise approximately US$300m in its upcoming IPO. Proceeds raised will be mainly used to fund the development of its pipeline projects, obtain land assets through potential share acquisitions.In this insight, we will look at the company's financial and operational performance in the past three years, its different business segments, and compare it against other Philippines-listed property developers. 

DM Wenceslao Pre-IPO Review - A Bet on Aseana City

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.

Thematic (Sector/Industry)

<p>§  <strong>Ascendas REIT has recently replaced CapitaLand Mall Trust as Singapore's largest capitalised REIT – and has been the second-best performing REIT in the YTD with an 11.9% total return.</strong></p><p>§  <strong>The capitalisation of Singapore’s REIT Sector has almost doubled over the past five years. Singapore’s REIT Sector also maintains a competitive edge with higher average yields and lower average gearing ratios than the combined REIT Sector of Japan, Australia and Hong Kong. </strong></p><p>§  <strong>The NikkoAM - StraitsTrading Asia ex Japan REIT ETF  which is expected to include up to 70% weightage in Singapore REITs is scheduled to list on SGX on 29 March 2017. Ascendas REIT and CapitaLand Mall Trust are expected to maintain relatively large weightings in the ETF. </strong></p>

§  Ascendas REIT has recently replaced CapitaLand Mall Trust as Singapore's largest capitalised REIT – and has been the second-best performing REIT in the YTD with an 11.9% total return.§  The capitalisation of Singapore’s REIT Sector has almost doubled over the past five years. Singapore’s REIT Sector also maintains a competitive edge with higher average yields and lower average gearing ratios than the combined REIT Sector of Japan, Australia and Hong Kong. §  The NikkoAM - StraitsTrading Asia ex Japan REIT ETF  which is expected to include up to 70% weightage in Singapore REITs is scheduled to list on SGX on 29 March 2017. Ascendas REIT and CapitaLand Mall Trust are expected to maintain relatively large weightings in the ETF. 

Ascendas REIT Is Now Singapore's Largest Capitalised REIT

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<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>
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<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

Deciphering real estate markets globally., Rems Advisors

TAN Kok Keong

Deciphering real estate markets globally.

Rems Advisors

<h2><strong>Rental continues on its moderate recovery path</strong></h2><p>As at 4th quarter 2016, the serviced apartment rental in Yangon increased by 0.3% quarter-on-quarter (q-o-q) and 0.1% year-on-year to US$5,583 per month.  As compared to the peak in 1Q2015, the overall rent has declined by 6.7%.  While rent has weakened compare with previous peak levels, serviced apartments are still relatively expensive in Yangon if it is compared against other emerging market. The average rent of 1-bedroom was about US$4,000 per…</p>

Rental continues on its moderate recovery pathAs at 4th quarter 2016, the serviced apartment rental in Yangon increased by 0.3% quarter-on-quarter (q-o-q) and 0.1% year-on-year to US$5,583 per month.  As compared to the peak in 1Q2015, the overall rent has declined by 6.7%.  While rent has weakened compare with previous peak levels, serviced apartments are still relatively expensive in Yangon if it is compared against other emerging market. The average rent of 1-bedroom was about US$4,000 per…

Yangon Serviced Apartment Sector Remains the Most Attractive Sector

Philippines

Vista Land & Lifescapes, Inc. is an investment holding company. The Company, through its subsidiaries develops and sells residential subdivisions and housing units. Vista Land operates in the Philippines.

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Vista Land & Lifescapes (VLL PM)

DM Wenceslao IPO Review - Priced To Reflect Concentration Risk

Summary from previous Insight Dm Wenceslao And Associates (DMW PM) 's large land bank in Aseana City at a low cost gives the company an advantage...

Zhen Zhou, Toh

DM Wenceslao Pre-IPO Review - A Bet on Aseana City

Dm Wenceslao And Associates (DMW PM) is looking to raise approximately US$300m in its upcoming IPO. Proceeds raised will be mainly used to fund the...

Zhen Zhou, Toh

Ascendas REIT Is Now Singapore's Largest Capitalised REIT

§ Ascendas REIT has recently replaced CapitaLand Mall Trust as Singapore's largest capitalised REIT – and has been the second-best performing REIT...

Singapore Exchange Ltd (SGX)

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)

Yangon Serviced Apartment Sector Remains the Most Attractive Sector

Rental continues on its moderate recovery pathAs at 4th quarter 2016, the serviced apartment rental in Yangon increased by 0.3% quarter-on-quarter...

TAN Kok Keong

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