Category

Singapore

Nov 26
0

Daily Brief Singapore: Keppel Corp, SGX Rubber Future TSR20, Jardine Matheson Holdings and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Keppel: Strategic Transformation to Asset Manager (Report 3)
  • Cambodia Consolidates In Rubber And Tire; Jan-Sept Period Impressive
  • ABR Holdings managing director continues to grow interest

Keppel: Strategic Transformation to Asset Manager (Report 3)

By Tan Yee Peng

  • This is the third report issued by CML on Keppel’s transformation to a global asset manager per its Vision 2030.
  • CML has earlier issued two reports on this subject. The first examines the lack of disclosure by Keppel on critical information and data pertaining to its asset management business.
  • This is disappointing as Keppel is almost halfway to its fund under management (‘FUM”) target of S$200bn, and we include peers which are similar in size.

Cambodia Consolidates In Rubber And Tire; Jan-Sept Period Impressive

By Vinod Nedumudy

  • Latex export revenue posts 18% growth YoY during Jan-Sept
  • Tire industry can consume 200,000 tons of latex a year at present
  • Govt placing a lot of attention on research, downstream foray

ABR Holdings managing director continues to grow interest

By Geoff Howie

  • Over the five trading sessions from Nov 15 to 21, institutions were net sellers of Singapore stocks, resulting in a net institutional outflow of S$38 million.
  • This marked a slight reversal from the net inflow of S$384 million observed over the five preceding sessions up to Nov 14.
  • Stocks that led the net institutional outflow over the five sessions through to Nov 22 were CapitaLand Integrated Commercial Trust, CapitaLand Ascendas REIT, DBS Group Holdings, Yangzijiang Shipbuilding Holdings, Genting Singapore, Mapletree Logistics Trust, Frasers Logistics & Commercial Trust, Keppel DC REIT, Wilmar International and Keppel REIT.

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Nov 24
0

Daily Brief Singapore: Oneteam and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Oneteam nets US$2.6M funding to revolutionise SME succession planning in Singapore | e27

Oneteam nets US$2.6M funding to revolutionise SME succession planning in Singapore | e27

By e27

  • Oneteam, a Singapore-based startup focused on transforming succession at small and medium-sized enterprises (SMEs) through employee ownership, has raised SGD 3.5 million (US$2.6 million) in seed funding.
  • Wavemaker Ventures, the early-stage fund of Wavemaker Partners, led the round.
  • About 70 per cent of the funding will be used to acquire small businesses, while the remaining funds will be used to build a strong core team and infrastructure to provide shared services for its portfolio.

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Nov 23
0

Daily Brief Singapore: SGX Rubber Future TSR20, Japfa Ltd, Portcast and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Malaysian NR Scene In Sept Nothing To Cheer About
  • Company Spotlight: Japfa
  • Portcast secures US$6.5M in Series A to enhance AI-powered supply chain visibility | e27

Malaysian NR Scene In Sept Nothing To Cheer About

By Vinod Nedumudy

  • Steep dip of 30.6% in NR exports month-on-month in Sept
  • Ivory Coast’s infusion touches an abysmal share of 14.9%
  • Rubber glove exports to be worth a record RM13.7 billion in 2024

Company Spotlight: Japfa

By Geoff Howie

Company Spotlight: Japfa

Portcast secures US$6.5M in Series A to enhance AI-powered supply chain visibility | e27

By e27

  • Singapore-based Portcast, a provider of real-time transportation visibility and predictive analytics, has secured US$6.5 million in Series A funding.
  • The round was led by Susquehanna Asia VC, with participation from new investors Hearst Ventures and Signal Ventures, alongside existing investors Wavemaker Partners, TMV, and Innoport.
  • The new funding will be strategically allocated to accelerate product innovation, particularly leveraging generative AI to enhance risk management, transport planning, and invoice auditing capabilities.

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Nov 22
0

Daily Brief Singapore: Straits Trading, Valuetronics Holdings and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Straits Trading (STRTR SP): An Undervalued Real Estate Stock with Multitude of Opportunities
  • Recent Driving Forces in the Technology Sector

Straits Trading (STRTR SP): An Undervalued Real Estate Stock with Multitude of Opportunities

By Kilde

  • Straits Trading (STRTR SP) is a conglomerate-investment company with diversified investments in resources, real estate and hospitality.
  • Straits Trading’s key growth engine is its real-estate arm – Straits Real Estate (SRE) which has a diversified property portfolio across different geographies and various sectors.
  • Despite fluctuations in STC’s earnings, the company continues to pay stable dividends to its shareholders. As at the end of June 30, 2024, Straits Trading generated cash and bank balances of SGD476.4m. STC continues to generate positive cash from operations.

Recent Driving Forces in the Technology Sector

By Geoff Howie

  • Back in 1H24, Gartner projected significant growth in global semiconductor sales for 2024 and 2025, driven by a rebound in AI chips, memory pricing, PCs, smartphones, and consumer devices.
  • Aztech, Valuetronics and ISDN have shown mixed returns this year, with Valuetronics trading above its 5-year P/S average.
  • Aztech, Valuetronics and ISDN have been enhancing their manufacturing operations with Manufacturing Execution Systems (MES), leveraging software to increase production efficiency.

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Nov 21
0

Daily Brief Singapore: BuzzAR, SGX Rubber Future TSR20 and more

By | Daily Briefs, Singapore

In today’s briefing:

  • BuzzAR lands US$1.16M in funding to boost Saudi tourism with AI-driven travel companion | e27
  • Ivory Coast Lists Four Point Strategy To Place Its Rubber Globally

BuzzAR lands US$1.16M in funding to boost Saudi tourism with AI-driven travel companion | e27

By e27

  • Singapore-based mixed reality and AI company BuzzAR has secured US$1.16 million in funding from the HSBC New Economy Fund.
  • The firm is using the money raised to expand its presence in the Middle East and North Africa (MENA) region, particularly Saudi Arabia, where it has partnered with the tourism department.
  • Founded in 2018 by Bell Beh and Ken Lim, BuzzAR specialises in experiential engagements that bridge the gap between offline and online spaces for its clients.

Ivory Coast Lists Four Point Strategy To Place Its Rubber Globally

By Farah Miller

  • Rubber Meet spots Risk Center, EUDR, industry academy as priorities
  • RAOT delegation holds talks with APROMAC top brass
  • Ivory Coast cup lump exports ban to stay, says APROMAC official

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Nov 20
0

Daily Brief Singapore: Keppel DC REIT and more

By | Daily Briefs, Singapore

In today’s briefing:

  • KDC REIT Placement – Accretive Acquisitions Should Garner Strong Support

KDC REIT Placement – Accretive Acquisitions Should Garner Strong Support

By Clarence Chu

  • Keppel DC REIT (KDCREIT SP) is looking to raise S$600m (US$450m) from a primary placement. The proceeds will be used to acquire interest in two data centers in Singapore.
  • The deal will be a large one to digest, accounting for 47 days of the stock’s three month ADV. That said, the acquisitions appear to be accretive to bottomline.
  • In this note, we’ll run the deal through our ECM framework and comment on deal dynamics.

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Nov 19
0

Daily Brief Singapore: Professional Computer Tech, Yangzijiang Financial Holding and more

By | Daily Briefs, Singapore

In today’s briefing:

  • PC Partner – Leading Manufacturer of Computer Electronics – Debuts on SGX
  • CapitaLand Investment leads buyback consideration tally in 2024 till Nov 13

PC Partner – Leading Manufacturer of Computer Electronics – Debuts on SGX

By Geoff Howie

  • Last Friday, SGX welcomed the secondary listing of PC Partner on the SGX Mainboard by way of introduction.
  • PC Partner is a leading provider of innovative and reliable products, with a focus on video graphics cards (VGA Cards) and electronics manufacturing services (EMS) solutions offerings.
  • PC Partner shares are primary listed on the HKEX and secondary listed on the SGX following the introduction.

CapitaLand Investment leads buyback consideration tally in 2024 till Nov 13

By Geoff Howie

  • Share buybacks can be used for employee compensation plans, such as share option schemes or employee share purchase plans, as well as for long-term capital management.
  • As at Nov 13, nearly 80 primary-listed companies have repurchased their shares on-market this year, amounting to S$1.03 billion in buyback consideration.
  • In 2024 to Nov 13, CLI bought back 126.2 million shares at an average price of S$2.72 per share.

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Nov 18
0

Daily Brief Singapore: SGX Rubber Future TSR20 and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Kerala Smallholders Turn The Heat On Tire Makers; To Cut Supply

Kerala Smallholders Turn The Heat On Tire Makers; To Cut Supply

By Vinod Nedumudy

  • Consortium appeals to farmers not to sell below INR 200/kg
  • Supply to market expected to fall by 30% in coming days
  • Compound rubber imports go up by 47.5% YoY until Sept

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Nov 17
0

Daily Brief Singapore: Sea and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Sea Ltd (SE US) – Firing Profitability On All Segments

Sea Ltd (SE US) – Firing Profitability On All Segments

By Angus Mackintosh

  • In 3Q2024, Sea Ltd demonstrated its ability to turn a profit at Shopee, whilst booking strong growth, with sales & marketing kept well in check and active users increasing substantially.
  • E-Commerce registered higher take rates, through higher commissions, more paid advertising, and increasing levels of self-fulfilment through SPX Express, whilst Digital Financial Services saw a rapid acceleration in loan growth.
  • Digital Entertainment was back on form with strong growth in bookings, active users, ARPU, and adjusted EBITDA. Management remains confident about 4Q2024 and the outlook for 2025.

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Nov 15
0

Daily Brief Singapore: Grab Holdings , AEM, SGX Rubber Future TSR20 and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Grab Holdings (GRAB US) – High-Value Products Take the Helm
  • Aem: Hoping for Better 2025
  • Tire Industry: Premium Brands Exit Small-Rim Market Amidst Rising Competition

Grab Holdings (GRAB US) – High-Value Products Take the Helm

By Angus Mackintosh

  • Grab booked an impressive performance in 3Q2024, with strong evidence of its high-value products such as advance bookings gaining traction along with increasing monthly transacting users through its Saver offering. 
  • The company’s delivery business benefitted from strong performance from GrabMart and GrabFood. Its Grab Unlimited subscription hit record new highs, with users transacting four times as frequently as non-users.
  • Grab also saw a strong performance from GrabFin and its digital banks, which all started lending in November plus rapid deposit growth. Guidance increased reflecting a more positive outlook. 

Aem: Hoping for Better 2025

By Nicolas Van Broekhoven

  • AEM (AEM SP) released 3Q24 numbers and bumped its guidance higher as its key customer pulled forward some orders.
  • In 2025 it will be the first year where customers outside of Intel will make up the majority of AEM’s revenues. This is a big milestone for AEM.
  • Continued business from Intel and growth in new key accounts means we should expect FY25 revenue growth. Guidance for FY25 will come by February 2025. 

Tire Industry: Premium Brands Exit Small-Rim Market Amidst Rising Competition

By Farah Miller

  • Premium brands focus on high-value large rims, leaving small-rim markets.
  • Factory closures signal overcapacity as brands exit small-rim tire production.
  • New players gain ground in small-rim segments in Europe and North America.

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