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

Capitaland Integrated Commercial Trust / Equity Bottom-Up

<ul><li>Institutions were net buyers of Singapore stocks over the four trading sessions spanning Thursday August 8 through to Wednesday, August 14 close, with S$31.5 million of net institutional inflow.</li><li>Leading the net institutional inflow over the four sessions were Singapore Exchange, Singapore Telecommunications, Yangzijiang Shipbuilding (Holdings), Jardine Cycle & Carriage, CapitaLand Ascendas REIT, Sembcorp Industries, Keppel DC REIT, Sheng Siong Group, ComfortDelGro Corporation, and CapitaLand Integrated Commercial Trust.</li><li>On August 12, IFS Capital Executive Director & Group CEO Randy Sim Cheng Leong acquired 1.1 million shares at an average price of S$0.11 per share.</li></ul>

Institutions were net buyers of Singapore stocks over the four trading sessions spanning Thursday August 8 through to Wednesday, August 14 close, with S$31.5 million of net institutional inflow.Leading the net institutional inflow over the four sessions were Singapore Exchange, Singapore Telecommunications, Yangzijiang Shipbuilding (Holdings), Jardine Cycle & Carriage, CapitaLand Ascendas REIT, Sembcorp Industries, Keppel DC REIT, Sheng Siong Group, ComfortDelGro Corporation, and CapitaLand Integrated Commercial Trust.On August 12, IFS Capital Executive Director & Group CEO Randy Sim Cheng Leong acquired 1.1 million shares at an average price of S$0.11 per share.

SIA Leads Buyback Consideration, Multi-Chem CEO Trims 69% Stake

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Equity Capital Markets

<ul>
<li>Container ships are standardized, and fleets can be "market to market" values</li>
<li>This approach suggests TS Lines' equity could be worth &gt; US$2.0 bn</li>
<li>However, there are some caveats that come with this valuation approach</li>
</ul>


Container ships are standardized, and fleets can be "market to market" values
This approach suggests TS Lines' equity could be worth &gt; US$2.0 bn
However, there are some caveats that come with this valuation approach


TS Lines Pre-IPO: Adjusted Book Value Approach Yields Estimated Equity Valuation of US$1.96-2.06 Bn

Mapletree Industrial Trust / Equity Bottom-Up

<ul><li>Share buybacks by primary-listed companies The five sessions also saw nine primary-listed companies conducted buybacks with a total consideration of S$4.5 million.</li><li>With this transaction, the total proportion of shares bought back under the current mandate now stands at 1.47 per cent of the issued shares (not counting treasury shares) as of the date when the share buyback resolution was passed.</li></ul>

Share buybacks by primary-listed companies The five sessions also saw nine primary-listed companies conducted buybacks with a total consideration of S$4.5 million.With this transaction, the total proportion of shares bought back under the current mandate now stands at 1.47 per cent of the issued shares (not counting treasury shares) as of the date when the share buyback resolution was passed.

Buyback and director filings taper off during pre-earnings period

Yoma Strategic Holdings / Equity Bottom-Up

<ul><li>The top five performers among the 100 most traded stocks in Singapore for the year up to 17 July, were Beng Kuang Marine, Mermaid Maritime, Yoma Strategic, Yangzijiang Shipbuilding and Samudera Shipping.</li><li>Among the broader group of Singapore’s 200 most traded stocks this year, 63 stocks have generated YTD total returns of 10% or higher.</li><li>Among the 63 stocks, the Industrials Sector representing as many as 18 (29%) of the 63 stocks, compared to the sector representing 38 (19%) of the broader group of the 200 most traded stocks.</li></ul>

The top five performers among the 100 most traded stocks in Singapore for the year up to 17 July, were Beng Kuang Marine, Mermaid Maritime, Yoma Strategic, Yangzijiang Shipbuilding and Samudera Shipping.Among the broader group of Singapore’s 200 most traded stocks this year, 63 stocks have generated YTD total returns of 10% or higher.Among the 63 stocks, the Industrials Sector representing as many as 18 (29%) of the 63 stocks, compared to the sector representing 38 (19%) of the broader group of the 200 most traded stocks.

Singapore's Most Actively Traded Stocks with Double-Digit YTD Total Returns

<ul><li>Singapore's manufacturing sector saw a reduced contraction of 0.7% in the first five months of 2024, improving from a 4.3% contraction the previous year.</li><li>The iEdge SG Adv Manufacturing Index has also booked more than S$90 million of net institutional inflow in 2024 (up to 8 July) led by net inflows to YZJ Shipbldg, ST Engineering, Venture, SATS and ThaiBev, while Beng Kuang Marine, Dyna-Mac, Frencken, Global Invacom and Marco Polo Marine saw highest net inflow relative to market cap.</li><li>Leading the net institutional inflow for the 2024 year (up to 8 July) within the iEdge SG Advanced Manufacturing Index, were five STI stocks Yangzijiang Shipbuilding, Singapore Technologies Engineering, Venture Corporation, SATS and Thai Beverage: https://investors.sgx.com/securities/stocks?security=BS6 maintains an ROE of 21% and P/B of 4x, compared its 5-year average P/B of 0.9x.</li></ul>

Singapore's manufacturing sector saw a reduced contraction of 0.7% in the first five months of 2024, improving from a 4.3% contraction the previous year.The iEdge SG Adv Manufacturing Index has also booked more than S$90 million of net institutional inflow in 2024 (up to 8 July) led by net inflows to YZJ Shipbldg, ST Engineering, Venture, SATS and ThaiBev, while Beng Kuang Marine, Dyna-Mac, Frencken, Global Invacom and Marco Polo Marine saw highest net inflow relative to market cap.Leading the net institutional inflow for the 2024 year (up to 8 July) within the iEdge SG Advanced Manufacturing Index, were five STI stocks Yangzijiang Shipbuilding, Singapore Technologies Engineering, Venture Corporation, SATS and Thai Beverage: https://investors.sgx.com/securities/stocks?security=BS6 maintains an ROE of 21% and P/B of 4x, compared its 5-year average P/B of 0.9x.

Market Mechanics: Evaluating Singapore's Manufacturing and Equities

Singapore

Yangzijiang Shipbuilding (Holdings) Limited builds a wide range of ships. The Company produces a wide range of commercial vessels, mini bulk carriers, multi-purpose cargo vessels, containerships, chemical tankers, offshore supply vessels, rescue and salvage vessels, and lifting vessels.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Yangzijiang Shipbuilding (YZJSGD SP)

SIA Leads Buyback Consideration, Multi-Chem CEO Trims 69% Stake

Institutions were net buyers of Singapore stocks over the four trading sessions spanning Thursday August 8 through to Wednesday, August 14 close,...

Singapore Exchange Ltd (SGX)

TS Lines Pre-IPO: Adjusted Book Value Approach Yields Estimated Equity Valuation of US$1.96-2.06 Bn

Adjusting the book value of TS Lines' fleet based on recent newbuilding prices implies an equity valuation for the regional container carrier of as...

Tracking Traffic

Buyback and director filings taper off during pre-earnings period

Share buybacks by primary-listed companies The five sessions also saw nine primary-listed companies conducted buybacks with a total consideration...

Singapore Exchange Ltd (SGX)

Singapore's Most Actively Traded Stocks with Double-Digit YTD Total Returns

The top five performers among the 100 most traded stocks in Singapore for the year up to 17 July, were Beng Kuang Marine, Mermaid Maritime, Yoma...

Singapore Exchange Ltd (SGX)

Market Mechanics: Evaluating Singapore's Manufacturing and Equities

Singapore's manufacturing sector saw a reduced contraction of 0.7% in the first five months of 2024, improving from a 4.3% contraction the...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)