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

Keppel Infrastructure Trust / Equity Bottom-Up

<h2>Keppel Infrastructure Trust</h2>
<div>
<div>
<div>
<p><strong>Looking for stable passive income? This defensive stock remains a solid pick.</strong></p>
<div>
<div>
<div>
<p>We provide an update on Keppel Infrastructure Trust, which remains as a solid dividend pick despite the current challenging operating environment.</p>
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/151/084/original/image_46025892181596748136049.png?1596748139" class="editor-image img-responsive" data-smartkarma-image-id="151084"></figure>
<div>
<div>
<div>
<div class="content-remarks">
<p style="text-align: right;">Photo by Austin on Unsplash</p>
</div>
<div>
<div>
<div>
<ul>
<li>
<p><strong>Keppel Infrastructure Trust (KIT)</strong> (SGX:A7RU) has reported resilient results despite the challenging operating environment. Distributable cash flows in 1Q 2020 increased by 5.6% year-on-year, largely due to the full-quarter revenue contribution from Ixom.</p>
</li>
<li>
<p>All of KIT’s businesses and assets are classified as essential services, and therefore they have not experienced any disruptions from the lockdown measures implemented by the Singapore, Australian, and New Zealand governments.</p>
</li>
<li>
<p>Net gearing ratio of 33.7% highlights KIT’s strong cash position. We believe that KIT’s balance sheet is strong enough to tide through the challenging operating environment.</p>
</li>
<li>
<p>With distributable cash flows sufficient for KIT to sustain its distributions, we believe that the Trust will continue to maintain its DPU of SGD 3.72 cents per year. <strong>This translates to an estimated distribution yield of 7.0%.</strong></p>
</li>
<li>
<p>We also maintain our target price of SGD 0.565, which represents an upside potential of 5.6% based on the closing price of SGD 0.535 on 2 June 2020. Thus, the potential total return is 12.6%.</p>
</li>
</ul>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>

Keppel Infrastructure Trust



Looking for stable passive income? This defensive stock remains a solid pick.



We provide an update on Keppel Infrastructure Trust, which remains as a solid dividend pick despite the current challenging operating environment.





Photo by Austin on Unsplash






Keppel Infrastructure Trust (KIT) (SGX:A7RU) has reported resilient results despite the challenging operating environment. Distributable cash flows in 1Q 2020 increased by 5.6% year-on-year, largely due to the full-quarter revenue contribution from Ixom.


All of KIT’s businesses and assets are classified as essential services, and therefore they have not experienced any disruptions from the lockdown measures implemented by the Singapore, Australian, and New Zealand governments.


Net gearing ratio of 33.7% highlights KIT’s strong cash position. We believe that KIT’s balance sheet is strong enough to tide through the challenging operating environment.


With distributable cash flows sufficient for KIT to sustain its distributions, we believe that the Trust will continue to maintain its DPU of SGD 3.72 cents per year. This translates to an estimated distribution yield of 7.0%.


We also maintain our target price of SGD 0.565, which represents an upside potential of 5.6% based on the closing price of SGD 0.535 on 2 June 2020. Thus, the potential total return is 12.6%.















Keppel Infrastructure Trust: Looking for Stable Passive Income? This Defensive Stock Remains a Solid Pick.