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.

Asia’s leading multi-asset exchange

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Equity Bottom-Up

<h2>10 Questions for Prime US REIT</h2>
Company Overview Prime US REIT (PRIME) has a focus on stabilised income-producing office assets in the US. PRIME offers investors a unique exposure to a high-quality, geographically diversified portfolio of 12 prime and freehold office properties, strategically located in 10 primary markets in the US, with a total appraised value of US$1.42 billion as at 31 March 2020.
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<li>What are some of PRIME’s notable developments or achievements since the IPO?</li>
</ol>
• PRIME has achieved several milestones since our listing in July 2019. Key highlights for 1Q2020 include:
• Outperformance of gross revenue and net property income (NPI) against the IPO projection for 1Q2020. Gross revenue exceeded by 4.1% (US$35.1m vs. US$33.7m) and NPI exceeded by 6.7% (US$23.5m vs. US$22.0m). Distributable income exceeded the IPO projection by 12.9% (US$17.6m vs. US$15.6m).
• Inclusion into MSCI Singapore Small Cap Index post-listing on 26 November 2019. We believe the inclusion will improve our trading liquidity and visibility within the investment community.
• Maiden acquisition of Park Tower in Sacramento for US$165.5 million, funded by our first private placement in February 2020 – raising US$120.0 million, with the upsize option exercised. It was 4.8 times subscribed at the top end price of US$0.957 per new unit, driven by strong demand from long-only institutional investors, private wealth clients and multi-strategy funds.

10 Questions for Prime US REIT
Company Overview Prime US REIT (PRIME) has a focus on stabilised income-producing office assets in the US. PRIME offers investors a unique exposure to a high-quality, geographically diversified portfolio of 12 prime and freehold office properties, strategically located in 10 primary markets in the US, with a total appraised value of US$1.42 billion as at 31 March 2020.

What are some of PRIME’s notable developments or achievements since the IPO?

• PRIME has achieved several milestones since our listing in July 2019. Key highlights for 1Q2020 include:
• Outperformance of gross revenue and net property income (NPI) against the IPO projection for 1Q2020. Gross revenue exceeded by 4.1% (US$35.1m vs. US$33.7m) and NPI exceeded by 6.7% (US$23.5m vs. US$22.0m). Distributable income exceeded the IPO projection by 12.9% (US$17.6m vs. US$15.6m).
• Inclusion into MSCI Singapore Small Cap Index post-listing on 26 November 2019. We believe the inclusion will improve our trading liquidity and visibility within the investment community.
• Maiden acquisition of Park Tower in Sacramento for US$165.5 million, funded by our first private placement in February 2020 – raising US$120.0 million, with the upsize option exercised. It was 4.8 times subscribed at the top end price of US$0.957 per new unit, driven by strong demand from long-only institutional investors, private wealth clients and multi-strategy funds.

10 in 10 with Prime US REIT - Primed for Robust Growth