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

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Nine SGX-listed companies, with a combined market cap of more than S$200 billion, have been included in two lists highlighting Asia-Pacific’s top-performing companies in terms of sales and/or earnings growth, compiled by Forbes Asia. 
	 </li>
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Eight of them – DBS, OCBC, UOB, Wilmar, CapitaLand, CityDev, Olam and Venture – made it to Forbes Asia’s inaugural Best Over A Billion series, announced last week. The ninth – AEM – was unveiled in Forbes’ long-established Best Under A Billion 2019 list in July. 
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In 8M2019, the three best-performing stocks among the nine were: AEM (+33.4%), Wilmar (+25.5%) and CityDev (+20.6%). 
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Nine SGX-listed companies, which have a combined market capitalisation of more than S$200 billion, have been included in two lists highlighting Asia-Pacific’s top-performing businesses in terms of sales and/or earnings growth. Compiled by media group <a href="https://www.forbes.com/forbesasia">Forbes Asia</a>, these two checklists comprehensively cover all of the region’s listed companies, selecting the best 400 from the smallest to the biggest, using US$1 billion in sales as a defining criteria.

Eight of them – DBS Group Holdings, Oversea-Chinese Banking Corp, United Overseas Bank, Wilmar International, CapitaLand Ltd, City Developments, Olam International and Venture Corp – made it to Forbes Asia’s inaugural <a href="http://www.forbes.com/bob">Best Over A Billion</a> series, announced last week. This tally spotlights 200 top-performing listed companies across the region with revenues of US$1 billion or more.

Seven of the eight stocks (except for Olam) are constituents of the benchmark Straits Times Index (STI). The eight are categorised to the banking and financial services, real estate, electronics manufacturing, as well as food and agri-business sectors.

The ninth company – semiconductor handling and test equipment manufacturer AEM Holdings – was featured in Forbes’ long-established <a href="http://www.forbes.com/bub">Best Under A Billion</a> 2019 list in July. This series highlights 200 top-performing, small and mid-sized companies in the region with less than US$1 billion in revenue and a track record of strong growth.

8M2019 Performance Highlights

In the first eight months of 2019, the eight constituents of Forbes’ Best Over A Billion tally have generated a total return of +13.2%, bringing their one-year and three-year total returns to +1.2% and +42.6% respectively. These eight stocks also average a price-earnings ratio of 13.0x and a dividend indicated yield of 3.6%.

The three best performers among the eight were Wilmar (+25.5%), CityDev (+20.6%) and Olam (+18.5%), while the three least performers were OCBC (-1.3%), UOB (+6.6%) and DBS (+8.3%).

Over the 8M2019 period, the sole constituent of Forbes’ Best Under A Billion series listed on SGX – AEM Holdings – has registered a total return of 33.4%, bringing its one-year and three-year total returns to 43.9% and 1,308% respectively. It also averages a price-earnings ratio of 8.3x and a dividend indicated yield of 3.8%.

The table below details the nine SGX-listed constituents of Forbes Asia’s Best Over A Billion and Best Under A Billion series, sorted by market cap.

<table class="table table-striped"><tbody>
<tr>
<td>
			Name
			</td>
			<td>
			SGX Code
			</td>
			<td>
			Market Cap (S$M)
			</td>
			<td>
			Total Return YTD (%)
			</td>
			<td>
			Total Return 1Y (%)
			</td>
			<td>
			Total Return 3Y (%)
			</td>
			<td>
			P/E (x)
			</td>
			<td>
			Div Ind Yld (%)
			</td>
		</tr>
<tr>
<td>
			DBS GROUP HLDGS
			</td>
			<td>
			D05
			</td>
			<td>
			62,665
			</td>
			<td>
			8.3
			</td>
			<td>
			1.5
			</td>
			<td>
			86.5
			</td>
			<td>
			10.7
			</td>
			<td>
			5.0
			</td>
		</tr>
<tr>
<td>
			OCBC LTD
			</td>
			<td>
			O39
			</td>
			<td>
			45,982
			</td>
			<td>
			-1.3
			</td>
			<td>
			-2.7
			</td>
			<td>
			38.3
			</td>
			<td>
			9.9
			</td>
			<td>
			4.5
			</td>
		</tr>
<tr>
<td>
			UOB LTD
			</td>
			<td>
			U11
			</td>
			<td>
			41,638
			</td>
			<td>
			6.6
			</td>
			<td>
			-3.2
			</td>
			<td>
			56.4
			</td>
			<td>
			10.2
			</td>
			<td>
			4.2
			</td>
		</tr>
<tr>
<td>
			WILMAR INTL
			</td>
			<td>
			F34
			</td>
			<td>
			24,133
			</td>
			<td>
			25.5
			</td>
			<td>
			22.8
			</td>
			<td>
			35.0
			</td>
			<td>
			16.3
			</td>
			<td>
			2.6
			</td>
		</tr>
<tr>
<td>
			CAPITALAND LTD
			</td>
			<td>
			C31
			</td>
			<td>
			17,480
			</td>
			<td>
			15.4
			</td>
			<td>
			4.3
			</td>
			<td>
			24.0
			</td>
			<td>
			9.0
			</td>
			<td>
			3.6
			</td>
		</tr>
<tr>
<td>
			CITY DEVTS
			</td>
			<td>
			C09
			</td>
			<td>
			8,688
			</td>
			<td>
			20.6
			</td>
			<td>
			5.3
			</td>
			<td>
			17.9
			</td>
			<td>
			14.3
			</td>
			<td>
			1.9
			</td>
		</tr>
<tr>
<td>
			OLAM INTL
			</td>
			<td>
			O32
			</td>
			<td>
			5,990
			</td>
			<td>
			18.5
			</td>
			<td>
			-6.0
			</td>
			<td>
			-1.5
			</td>
			<td>
			22.8
			</td>
			<td>
			4.0
			</td>
		</tr>
<tr>
<td>
			VENTURE CORP
			</td>
			<td>
			V03
			</td>
			<td>
			4,377
			</td>
			<td>
			12.2
			</td>
			<td>
			-12.3
			</td>
			<td>
			84.4
			</td>
			<td>
			10.9
			</td>
			<td>
			2.6
			</td>
		</tr>
<tr>
<td>
			AEM HLDGS
			</td>
			<td>
			AWX
			</td>
			<td>
			286
			</td>
			<td>
			33.4
			</td>
			<td>
			43.9
			</td>
			<td>
			1,308.0
			</td>
			<td>
			8.3
			</td>
			<td>
			3.8
			</td>
		</tr>
<tr>
<td>
			Average
			</td>
			<td>
			 
			</td>
			<td>
			 
			</td>
			<td>
			15.5
			</td>
			<td>
			5.9
			</td>
			<td>
			183.2
			</td>
			<td>
			12.5
			</td>
			<td>
			3.6
			</td>
		</tr>
</tbody></table>
Source: Bloomberg &amp; StockFacts (data as of 30 Aug 2019)
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Nine SGX-listed companies, with a combined market cap of more than S$200 billion, have been included in two lists highlighting Asia-Pacific’s top-performing companies in terms of sales and/or earnings growth, compiled by Forbes Asia. 
	 
	
Eight of them – DBS, OCBC, UOB, Wilmar, CapitaLand, CityDev, Olam and Venture – made it to Forbes Asia’s inaugural Best Over A Billion series, announced last week. The ninth – AEM – was unveiled in Forbes’ long-established Best Under A Billion 2019 list in July. 
	 
	
In 8M2019, the three best-performing stocks among the nine were: AEM (+33.4%), Wilmar (+25.5%) and CityDev (+20.6%). 
	 

Nine SGX-listed companies, which have a combined market capitalisation of more than S$200 billion, have been included in two lists highlighting Asia-Pacific’s top-performing businesses in terms of sales and/or earnings growth. Compiled by media group Forbes Asia, these two checklists comprehensively cover all of the region’s listed companies, selecting the best 400 from the smallest to the biggest, using US$1 billion in sales as a defining criteria.

Eight of them – DBS Group Holdings, Oversea-Chinese Banking Corp, United Overseas Bank, Wilmar International, CapitaLand Ltd, City Developments, Olam International and Venture Corp – made it to Forbes Asia’s inaugural Best Over A Billion series, announced last week. This tally spotlights 200 top-performing listed companies across the region with revenues of US$1 billion or more.

Seven of the eight stocks (except for Olam) are constituents of the benchmark Straits Times Index (STI). The eight are categorised to the banking and financial services, real estate, electronics manufacturing, as well as food and agri-business sectors.

The ninth company – semiconductor handling and test equipment manufacturer AEM Holdings – was featured in Forbes’ long-established Best Under A Billion 2019 list in July. This series highlights 200 top-performing, small and mid-sized companies in the region with less than US$1 billion in revenue and a track record of strong growth.

8M2019 Performance Highlights

In the first eight months of 2019, the eight constituents of Forbes’ Best Over A Billion tally have generated a total return of +13.2%, bringing their one-year and three-year total returns to +1.2% and +42.6% respectively. These eight stocks also average a price-earnings ratio of 13.0x and a dividend indicated yield of 3.6%.

The three best performers among the eight were Wilmar (+25.5%), CityDev (+20.6%) and Olam (+18.5%), while the three least performers were OCBC (-1.3%), UOB (+6.6%) and DBS (+8.3%).

Over the 8M2019 period, the sole constituent of Forbes’ Best Under A Billion series listed on SGX – AEM Holdings – has registered a total return of 33.4%, bringing its one-year and three-year total returns to 43.9% and 1,308% respectively. It also averages a price-earnings ratio of 8.3x and a dividend indicated yield of 3.8%.

The table below details the nine SGX-listed constituents of Forbes Asia’s Best Over A Billion and Best Under A Billion series, sorted by market cap.




			Name
			
			
			SGX Code
			
			
			Market Cap (S$M)
			
			
			Total Return YTD (%)
			
			
			Total Return 1Y (%)
			
			
			Total Return 3Y (%)
			
			
			P/E (x)
			
			
			Div Ind Yld (%)
			
		


			DBS GROUP HLDGS
			
			
			D05
			
			
			62,665
			
			
			8.3
			
			
			1.5
			
			
			86.5
			
			
			10.7
			
			
			5.0
			
		


			OCBC LTD
			
			
			O39
			
			
			45,982
			
			
			-1.3
			
			
			-2.7
			
			
			38.3
			
			
			9.9
			
			
			4.5
			
		


			UOB LTD
			
			
			U11
			
			
			41,638
			
			
			6.6
			
			
			-3.2
			
			
			56.4
			
			
			10.2
			
			
			4.2
			
		


			WILMAR INTL
			
			
			F34
			
			
			24,133
			
			
			25.5
			
			
			22.8
			
			
			35.0
			
			
			16.3
			
			
			2.6
			
		


			CAPITALAND LTD
			
			
			C31
			
			
			17,480
			
			
			15.4
			
			
			4.3
			
			
			24.0
			
			
			9.0
			
			
			3.6
			
		


			CITY DEVTS
			
			
			C09
			
			
			8,688
			
			
			20.6
			
			
			5.3
			
			
			17.9
			
			
			14.3
			
			
			1.9
			
		


			OLAM INTL
			
			
			O32
			
			
			5,990
			
			
			18.5
			
			
			-6.0
			
			
			-1.5
			
			
			22.8
			
			
			4.0
			
		


			VENTURE CORP
			
			
			V03
			
			
			4,377
			
			
			12.2
			
			
			-12.3
			
			
			84.4
			
			
			10.9
			
			
			2.6
			
		


			AEM HLDGS
			
			
			AWX
			
			
			286
			
			
			33.4
			
			
			43.9
			
			
			1,308.0
			
			
			8.3
			
			
			3.8
			
		


			Average
			
			
			 
			
			
			 
			
			
			15.5
			
			
			5.9
			
			
			183.2
			
			
			12.5
			
			
			3.6
			
		

Source: Bloomberg &amp; StockFacts (data as of 30 Aug 2019)



Forbes Asia’s Best-Performing Growth Companies on SGX 