Category

Singapore

Jun 07
0

Daily Brief Singapore: Jardine Matheson Holdings and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Jardine Matheson – The Slow Grind Lower Can Continue

Jardine Matheson – The Slow Grind Lower Can Continue

By Daniel Tabbush

  • There is nothing in the main investments at JM that suggests the grind lower on ROE and net profit will suddenly reverse, rather it should continue
  • Astra International, Hong Kong Land, and DFI Retail are key to JM and there is little joy here, with HKL potentially having more valuation impairments
  • Quarterly figures from Astra, which are a window on the current interim for JM, are not positive, with the worst quarter in over one year

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Jun 06
0

Daily Brief Singapore: Singtel and more

By | Daily Briefs, Singapore

In today’s briefing:

  • kopi-C with Singtel’s Group CFO: ‘We create an impact in the lives of more than 700 million people’

kopi-C with Singtel’s Group CFO: ‘We create an impact in the lives of more than 700 million people’

By Geoff Howie

  • kopi-C with Singtel’s Group CFO: ‘We create an impact in the lives of more than 700 million people’ With its new Singtel28 plan, Singtel is racing ahead to extend its lead in connectivity, digital services and digital infrastructure.
  • For businesses, Singtel offers a complementary array of workforce mobility solutions, data hosting, cloud, network infrastructure, analytics and cyber security capabilities.

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Jun 05
0

Daily Brief Singapore: Wirecard AG and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Using AI to Detect Fraud and Protect Your Investments

Using AI to Detect Fraud and Protect Your Investments

By Mark Jolley

  • Accounting fraud costs the global economy at least US$1 trillion each year in losses to investors, suppliers and consumers
  • Detecting accounting fraud early gives investors valuable intel to rethink certain stock or bond holdings.
  • Transparently.AI’s AI-powered solution is highly accurate in measuring and detecting accounting manipulation and fraud.

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Jun 04
0

Daily Brief Singapore: OCBC and more

By | Daily Briefs, Singapore

In today’s briefing:

  • The Tang group ventures into the S-Reit sector

The Tang group ventures into the S-Reit sector

By Geoff Howie

  • Institutions were net buyers of Singapore stocks over the five trading sessions through to May 30, with S$108.4 million of net institutional inflow, as 20 primary-listed companies conducted buybacks by way of market acquisition with a total consideration of S$37.9 million.
  • Meanwhile Mapletree Pan Asia Commercial Trust, Singapore Airlines, Mapletree Logistics Trust, Jardine Cycle & Carriage, CapitaLand Ascendas Reit, Sembcorp Industries, UOL Group, Jardine Matheson Holdings, Mapletree Industrial Trust, and Keppel Reit led the net institutional outflow over the five sessions.
  • In addition to the 9.3 per cent interest that the Tang group owns in ARA H-Trust, the proposed acquisition increases the Tangs’ holding in ARA H-Trust to 28.3 per cent.

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Jun 02
0

Daily Brief Singapore: Great Eastern Holdings and more

By | Daily Briefs, Singapore

In today’s briefing:

  • (Mostly) Asia M&A, May 2024: Malaysia Airports, Alps Logistics, Nihon Housing, Great Eastern

(Mostly) Asia M&A, May 2024: Malaysia Airports, Alps Logistics, Nihon Housing, Great Eastern

By David Blennerhassett

  • For the month of May 2024, 10 new transactions (firm and non-binding) were discussed on Smartkarma with an overall announced deal size of ~US$6.6bn.
  • The average premium for the new transactions announced (or first discussed) in May was ~60%. The average premium YTD is ~46%. Japan is well up yoy. Hong Kong is down.
  • This compares to the average premium for transactions in 2023 (117 transactions), 2022 (106), 2021 (165), 2020 (158), and 2019 (145 ) of 39%, 41%, 33%, 31%, and 31% respectively.

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May 30
0

Daily Brief Singapore: Thrixen Diagnostics and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Thrixen bags US$7M in funding to advance its diagnostics platform | e27

Thrixen bags US$7M in funding to advance its diagnostics platform | e27

By e27

  • Singapore-based startup Thrixen, which develops a diagnostics platform for infectious diseases, has secured funding, its co-founder and CEO Shavit Clein announced in a LinkedInpost.
  • The investors are 22Health Ventures, an early-stage healthtech investment firm and biotech company Aldevron’s co-founder John Ballantyne.
  • The development was first reported by The Business Times, which pegged the funding amount at US$7 million. The capital will be used to advance the development of its diagnostic technology platform.

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May 29
0

Daily Brief Singapore: Rize , UOL Group and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Temasek co-leads $14m round of SG agritech firm Rize
  • STI Gains 7% over Six Weeks on Net Institutional Inflow

Temasek co-leads $14m round of SG agritech firm Rize

By Tech in Asia

  • Rize, a Singapore-based agritech startup, has secured US$14 million in a series A funding round co-led by Breakthrough Energy Ventures, GenZero, Temasek, and Wavemaker Impact.
  • The company plans to use the funds to boost its presence in other markets like Indonesia and Vietnam.
  • It also aims to increase its team of agronomy experts to over 100. Rize’s platform gathers key agricultural information needed for sustainable farming.

STI Gains 7% over Six Weeks on Net Institutional Inflow

By Geoff Howie

  • On 27 May, the STI closed at 3,318.45, its highest close since August 2023.
  • STI stocks within the Real Estate Management and Development sector – Hongkong Land, City Developments and UOL Group – all booked net institutional inflow while averaging 7.1% total returns.
  • 10 Real Estate (Ex-REITs) stocks that booked most net institutional inflow since 16 April Code Mkt Cap S$M YTD ADT S$M YTD NIF S$M YTD TR % 17 April – 27 May NIF / Mkt Cap 16 April – 27 May TR % Sector.

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May 28
0

Daily Brief Singapore: Best World International, Seatrium , Linnovate Partners Afs , Allies Group , Grab Holdings , Staple AI , OUE Ltd and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Best World (BEST SP): Best & Final Offer
  • Seatrium – Offshore Ahoy!
  • SeaTown leads US$40M funding of asset servicing firm Linnovate Partners | e27
  • EBITA-profitable Allies of Skin raises $20m for US expansion
  • Grab Holdings: Improving Marketplace Efficiencies and Operating Leverage!
  • Wavemaker leads $4m round of Staple
  • AEM, UMS, NetLink and Baker Tech directors acquire stock

Best World (BEST SP): Best & Final Offer

By David Blennerhassett

  • The $2.50/share Exit Offer announced last month seemed fair. Not great, but okay. Best World International (BEST SP)‘s founders Dora Hoan and Doreen Tan have now blinked, and bumped. 
  • Terms are S$2.56/share – best & final.  The increase in the Exit Offer price followed “a review of its most recent financial and cash position“. More likely, shareholder pushback.
  • Elsewhere, nephews and siblings of Hoan, bought shares just prior to the initial Offer announcement; and have been selling since. Not a great look. 

Seatrium – Offshore Ahoy!

By Rikki Malik

  • An overlooked old economy sector in Asia ripe for a comeback
  • Industry dynamics will provide  a long-term tailwind for the company
  • Opportunity created by  deletion from an index and corporate restructuring

SeaTown leads US$40M funding of asset servicing firm Linnovate Partners | e27

By e27

  • Singapore-based Linnovate Partners, an asset servicing and fintech company for the alternative investment industry, has received a US$40 million funding commitment led by Temasek-owned SeaTown Private Capital Master Fund.
  • This capital infusion will enable Linnovate to scale operations and drive innovation.
  • Henry Lin, founder and CEO of Linnovate Partners, said: “This investment will be instrumental in accelerating our growth trajectory, providing us with the necessary resources to enhance our service offering, and continue delivering cutting-edge solutions to our clients and the industry itself.”

EBITA-profitable Allies of Skin raises $20m for US expansion

By Tech in Asia

  • Singapore-based beauty brand Allies of Skin is set to expand into the US after raising a US$20 million funding round from Meaningful Partners.
  • This follows the company hitting positive EBITA in 2023, its founder Nicolas Travis told Tech in Asia.
  • Allies of Skin, founded in 2016, said the round is its first institutional raise, but it has received private investments in the past – including capital from Crazy Rich Asians star Henry Golding.

Grab Holdings: Improving Marketplace Efficiencies and Operating Leverage!

By Baptista Research

  • Grab, a Singapore-based technology company offering ride-hailing transport, food delivery, and payment solutions, leveraged its vast user base of more than 2 million drivers and 63 million downloads in the fourth quarter of 2021.
  • Its financial performance for the first quarter of 2024 shows strong growth in several key areas, such as its delivery and mobility services, its financial services, and its strategic initiatives to sustain and generate growth.
  • In the first quarter of 2024, Grab’s revenue grew by 24% year over year and 29% in constant currency terms, reaching $653 million.

Wavemaker leads $4m round of Staple

By Tech in Asia

  • Companies handle anywhere from 1,000 to 100,000 documents in various formats on a monthly basis, and they usually rely on manual processes due to the unstructured nature of the data, says Paul Santos, managing partner at Wavemaker Partners.
  • To speed this up, Wavemaker Partners has invested in Staple, a Singapore-based startup that applies AI to provide document processing solutions.
  • The VC firm has led a US$4 million pre-series A funding round in the startup, which can process various document types across over 200 languages.

AEM, UMS, NetLink and Baker Tech directors acquire stock

By Geoff Howie

  • AEM, UMS, NetLink and Baker Tech directors acquire stock On May 20, OUE announced a proposed off-market purchase of up to 84,038,036 shares representing 10 per cent of the total number of shares in issue.
  • This increased her direct interest to 1.74 million shares, which represents 0.03 per cent of the company.

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May 26
0

Daily Brief Singapore: Best World International and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Best World (BEST SP): Best and Final S$2.56 Offer

Best World (BEST SP): Best and Final S$2.56 Offer

By Arun George

  • Best World International (BEST SP) has disclosed a revised exit offer which has been declared final. The S$2.56 offer is a modest 2.4% premium to the previous S$2.50 offer. 
  • The key conditions are approval for the selective capital reduction (at least 75% of eligible shareholders) and delisting resolution (a majority holding not less than 75% in value).
  • The revised offer remains underwhelming. However, the headcount test risk is lowering as retail seems resigned to accepting it. At the last close, the gross spread was 2.4%. 

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May 25
0

Daily Brief Singapore: UOB and more

By | Daily Briefs, Singapore

In today’s briefing:

  • STI Banks Book S$500M YTD Net Institutional Inflows

STI Banks Book S$500M YTD Net Institutional Inflows

By Geoff Howie

  • DBS, OCBC and UOB have booked S$500 million in combined net institutional inflow for the 2024 year through to 23 May.
  • Combined net interest income (NII) for the trio was S$8.3 billion in 1QFY24, the sixth consecutive quarter combined NII surpassed S$8.0 billion, and up 46% from the combined S$5.7 billion in 4QFY19.
  • This compares to the trio averaging 5.8% total returns for the full 2023 year, with S$2.5 billion of combined net institutional outflow.

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