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

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Combined, the 10 most traded Catalist stocks in the 2020 year-to-14 Dec have seen more than S$50 million in turnover a day and include as many as five healthcare-related stocks – Medtecs, UG Healthcare, Biolidics, Clearbridge and Hyphens Pharma.  
	 </li>
	<li>
After ending 2019 with a market value of S$20 million, Medtecs has averaged S$20 million in daily turnover in 2020. For its 9MFY20 (ended Sep 30), the personal protective equipment vendor reported a 1,442% increase in its gross profit. 
	 </li>
	<li>The most recent company to list on Catalist, Aedge Group, based in Singapore, provides engineering services (such as scaffolding, shelters &amp; grating), transport services (88 buses with capacities ranging from 10 to 45 seats), and security and manpower services.</li>
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Since the end of 2007, SGX has brought to the marketplace numerous start-up businesses through the Catalist board including the listing of professional service group, Aedge Group on 14 December. The professional services of Aedge currently spans three key industries: engineering, security and manpower and transport. The company maintains a network of customers that comprises government agencies, multi-national companies, government-linked companies and established large corporations. Aedge maintains a market capitalisation of S$20 million and price to sales ratio of 0.8x and closed on its first day of trading at 21.0 cents. There are more than 200 stocks listed for trading on the Catalist Board.

The 10 most traded Catalist stocks in the 2020 year (to 14 Dec) have all ranked among Singapore’s 100 most traded stocks by turnover, with the 10 Catalist stocks combined seeing more than S$50 million in turnover a day. As detailed in the table below, the 10 stocks (ranked by turnover) include as many as five healthcare-related stocks – Medtecs International (“Medtecs”), UG Healthcare, Biolidics, Clearbridge and Hyphens Pharma. The 10 stocks generated a median total return of 117% in the 2020 year (to 14 Dec) , which includes a median 11% decline since the global rotation from momentum to value stocks in the second week of November.

 

<table class="table table-striped"><tbody>
<tr>
<td>
			Top 10 Catalist-traded Stocks in 2020 YTD
			</td>
			<td>
			SGX 

			Code
			</td>
			<td>
			Mkt Cap 

			S$
			</td>
			<td>
			Nov 6 - 14 Dec Total Return %
			</td>
			<td>
			YTD Total Return %
			</td>
			<td>
			Price/Sales
			</td>
			<td>
			260 Day Volatility %
			</td>
		</tr>
<tr>
<td>
			Medtecs Intl
			</td>
			<td>
			546
			</td>
			<td>
			521,940,672
			</td>
			<td>
			-17
			</td>
			<td>
			2,491
			</td>
			<td>
			2.0
			</td>
			<td>
			167
			</td>
		</tr>
<tr>
<td>
			UG Healthcare
			</td>
			<td>
			8K7
			</td>
			<td>
			350,537,792
			</td>
			<td>
			-41
			</td>
			<td>
			1,124
			</td>
			<td>
			2.6
			</td>
			<td>
			147
			</td>
		</tr>
<tr>
<td>
			Rex Intl
			</td>
			<td>
			5WH
			</td>
			<td>
			200,557,440
			</td>
			<td>
			16
			</td>
			<td>
			-25
			</td>
			<td>
			10.3
			</td>
			<td>
			80
			</td>
		</tr>
<tr>
<td>
			Jiutian Chemical
			</td>
			<td>
			C8R
			</td>
			<td>
			141,179,520
			</td>
			<td>
			-38
			</td>
			<td>
			318
			</td>
			<td>
			0.7
			</td>
			<td>
			132
			</td>
		</tr>
<tr>
<td>
			Biolidics
			</td>
			<td>
			8YY
			</td>
			<td>
			79,214,096
			</td>
			<td>
			-3
			</td>
			<td>
			22
			</td>
			<td>
			10.9
			</td>
			<td>
			112
			</td>
		</tr>
<tr>
<td>
			Aspen
			</td>
			<td>
			1F3
			</td>
			<td>
			238,319,312
			</td>
			<td>
			-17
			</td>
			<td>
			178
			</td>
			<td>
			3.2
			</td>
			<td>
			263
			</td>
		</tr>
<tr>
<td>
			Clearbridge
			</td>
			<td>
			1H3
			</td>
			<td>
			87,115,384
			</td>
			<td>
			-5
			</td>
			<td>
			4
			</td>
			<td>
			2.4
			</td>
			<td>
			77
			</td>
		</tr>
<tr>
<td>
			Alset
			</td>
			<td>
			40V
			</td>
			<td>
			103,843,968
			</td>
			<td>
			6
			</td>
			<td>
			56
			</td>
			<td>
			6.8
			</td>
			<td>
			114
			</td>
		</tr>
<tr>
<td>
			V2Y Corp
			</td>
			<td>
			V2Y
			</td>
			<td>
			15,600,691
			</td>
			<td>
			91
			</td>
			<td>
			197
			</td>
			<td>
			0.3
			</td>
			<td>
			152
			</td>
		</tr>
<tr>
<td>
			Hyphens Pharma
			</td>
			<td>
			1J5
			</td>
			<td>
			93,133,424
			</td>
			<td>
			-23
			</td>
			<td>
			54
			</td>
			<td>
			0.7
			</td>
			<td>
			92
			</td>
		</tr>
<tr>
<td>
			Median
			</td>
			<td>
			 
			</td>
			<td>
			 
			</td>
			<td>
			-11
			</td>
			<td>
			117
			</td>
			<td>
			3
			</td>
			<td>
			123
			</td>
		</tr>
<tr>
<td>
			Average
			</td>
			<td>
			 
			</td>
			<td>
			 
			</td>
			<td>
			-3
			</td>
			<td>
			442
			</td>
			<td>
			4
			</td>
			<td>
			134
			</td>
		</tr>
</tbody></table>
Source: SGX StockFacts, Bloomberg, Reuters (Data as of 14 December 2020)

 

The strongest perfomer of the 10 stocks in the 2020 year (to 14 Dec) was Medtecs. 

UG Healthcare was the next best performer reporting its 1QFY21 (ended 30 Sep) revenue more than doubled year-on-year on 5 November, mainly due to higher volume of gloves sold and average selling prices on the back of stronger demand for disposable gloves and supply constraints (click <a href="https://links.sgx.com/1.0.0/corporate-announcements/XZINZSWIGSX79HW2/8c4c259f215a42ec0abb196fea5ba05a39ed7e2f490435af854fa5d3c37dad7f">here</a> for more).

As reported on 11 November, Jiutian Chemical’s quarterly net profit for 3QFY20 (ended 30 Sep) soared 57% over 2QFY20 despite a 20-day routine maintenance shutdown in early September 2020. Jiutian Chemical’s 2QFY20 was already a record quarterly net profit since the Company was listed in 2006. With the results, the Chairman noted a surge in demand for its main products of Dimethylformamide and methylamine from downstream customers who in turn are experiencing strong growth in both local and export markets for their products, in addition to rising demand for its products from users in the lithium batteries and semiconductor sectors, which are experiencing strong and sustainable growth in China (click <a href="https://links.sgx.com/1.0.0/corporate-announcements/QTDXEXG54PC7J6TE/5c582e197a5e4db0169fc71a6bb3e42c24c9395f9da7163f510e23a41d397f80">here</a> for more).

Aspen (Group) Holdings achieved revenue of RM62.4 million as at 3QFY20 (ended 30 Sep), a RM 6.9 million increase in revenue compared to 2QFY20. The increase was contributed from additional units sold in Tri Pinnacle and Vervea, as well as the progressive construction of Beacon Executive Suites and Vertu Resort during Recovery Movement Control Order phase. Following the completion of placement by the Aspen (Group) Holdings on 18 November, the funds will be used mainly to fund the construction of Phase 1 of the glove manufacturing facility which is expected to be completed by 1QFY21 and the Group targets to commence production by 2Q21 to bring between 1.6-1.8 billion gloves annually to the market.

The strongest performer since November 8 when the US media called Joe Biden the Winner of the US Election, followed by the announcement of the Pfizer/BioNtech vaccine results, was V2Y Corporation. V2Y Corporation (formerly Synagie Corporation) has recently sold its e-commerce business while seeking opportunities to expand its InsurTech business.

Rex International has gained 16% between 6 November and 14 December, as the price of Brent Crude Oil rallied 26% in SGD terms. Since listing in July 2013, Rex International has achieved four offshore discoveries, one in Oman and three in Norway. The Group also offers Rex Virtual Drilling screening services to other oil exploration companies as an additional tool to increase the success rate of finding oil.

The operations of Alset (formerly Singapore eDevelopment) span operations comprise Property Development, Info-Tech Related, Investment and Biomedical Businesses as captured in an infographic (click <a href="https://links.sgx.com/1.0.0/corporate-announcements/OOT6LPHW4UO3Y647/de1b67da46ccd7f0f90835aa6806de93965c594b7ee53d919c6821dcfa383237">here</a>) in the Business Times in early October. 

 

Medtecs was also the Most Traded Catalist Stock by Turnover in 2020 

For its 9MFY20 (ended 30 Sep), Medtecs reported a 1,442 per cent YoY increase in its gross profit. This was mostly attributed to the exporting of personal protective equipment (“PPE”) to over 30 countries in Southeast Asia, North Asia, US, Australia and Europe. Medtecs also serves as a one-stop vendor to hospitals, supplying PPE, workwear and medical consumables to more than 200 hospitals in Taiwan and the Philippines.

Looking forward the Group intends to increase its market share in the US by supplying locally manufactured facemasks starting in 1QFY21 while key growth markets in Asia Pacific such as Singapore, the Philippines and Taiwan remain. Medtecs is also aiming to increase productivity by systematically automating manufacturing processes and enhance employee training and education programs to remain competitive. Backed by Medtecs’ sustainable and scalable business model, built over the past 30 years, the Group maintains it is ready to embark on its next phase of growth, which is to be a global procurement platform for medical consumables and PPE. 

Other notable accolades this year include joining the MSCI Singapore Small Cap Index on Nov 30 and the board proposing to apply for a transfer from Catalist to the main board. On 18 November, Medtecs chief executive William Yang, who has over 10 years' experience in the textile industry, acquired one million shares of the company at an average price of 92.2 cents per share.

Catalist, the SGX sponsor-supervised board for growth companies, is now in its 13th year and home to 218 companies with a combined market capitalisation of S$11 billion. They come from geographical regions such as Singapore, Australia, Greater China, Indonesia, Israel, Japan, Malaysia, South Korea, Sweden and United Kingdom, across diverse sectors including Consumer, Technology, Healthcare, Energy and Industrials. With a view to expand their offerings and geographical footprint, these Catalist-listings provide accessibility in the capital formation process for comparatively new businesses.

At the same time the Catalist Board caters to the needs of fast-growing enterprises. Companies seeking a primary listing on the  Catalist Board must be brought to list by approved sponsors via an Initial Public Offering or a Reverse Takeover.  There are no quantitative entry criteria required by SGX. Instead, sponsors decide if the listing applicant is suitable to be listed using their house criteria. The quotation, trading and settlement of a stock listed on Catalist works the same way as a stock listed on the SGX Mainboard.
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Combined, the 10 most traded Catalist stocks in the 2020 year-to-14 Dec have seen more than S$50 million in turnover a day and include as many as five healthcare-related stocks – Medtecs, UG Healthcare, Biolidics, Clearbridge and Hyphens Pharma.   
	 
	
After ending 2019 with a market value of S$20 million, Medtecs has averaged S$20 million in daily turnover in 2020. For its 9MFY20 (ended Sep 30), the personal protective equipment vendor reported a 1,442% increase in its gross profit. 
	 
	The most recent company to list on Catalist, Aedge Group, based in Singapore, provides engineering services (such as scaffolding, shelters &amp; grating), transport services (88 buses with capacities ranging from 10 to 45 seats), and security and manpower services.

 

Since the end of 2007, SGX has brought to the marketplace numerous start-up businesses through the Catalist board including the listing of professional service group, Aedge Group on 14 December. The professional services of Aedge currently spans three key industries: engineering, security and manpower and transport. The company maintains a network of customers that comprises government agencies, multi-national companies, government-linked companies and established large corporations. Aedge maintains a market capitalisation of S$20 million and price to sales ratio of 0.8x and closed on its first day of trading at 21.0 cents. There are more than 200 stocks listed for trading on the Catalist Board.

The 10 most traded Catalist stocks in the 2020 year (to 14 Dec) have all ranked among Singapore’s 100 most traded stocks by turnover, with the 10 Catalist stocks combined seeing more than S$50 million in turnover a day. As detailed in the table below, the 10 stocks (ranked by turnover) include as many as five healthcare-related stocks – Medtecs International (“Medtecs”), UG Healthcare, Biolidics, Clearbridge and Hyphens Pharma. The 10 stocks generated a median total return of 117% in the 2020 year (to 14 Dec) , which includes a median 11% decline since the global rotation from momentum to value stocks in the second week of November.

 




			Top 10 Catalist-traded Stocks in 2020 YTD
			
			
			SGX 

			Code
			
			
			Mkt Cap 

			S$
			
			
			Nov 6 - 14 Dec Total Return %
			
			
			YTD Total Return %
			
			
			Price/Sales
			
			
			260 Day Volatility %
			
		


			Medtecs Intl
			
			
			546
			
			
			521,940,672
			
			
			-17
			
			
			2,491
			
			
			2.0
			
			
			167
			
		


			UG Healthcare
			
			
			8K7
			
			
			350,537,792
			
			
			-41
			
			
			1,124
			
			
			2.6
			
			
			147
			
		


			Rex Intl
			
			
			5WH
			
			
			200,557,440
			
			
			16
			
			
			-25
			
			
			10.3
			
			
			80
			
		


			Jiutian Chemical
			
			
			C8R
			
			
			141,179,520
			
			
			-38
			
			
			318
			
			
			0.7
			
			
			132
			
		


			Biolidics
			
			
			8YY
			
			
			79,214,096
			
			
			-3
			
			
			22
			
			
			10.9
			
			
			112
			
		


			Aspen
			
			
			1F3
			
			
			238,319,312
			
			
			-17
			
			
			178
			
			
			3.2
			
			
			263
			
		


			Clearbridge
			
			
			1H3
			
			
			87,115,384
			
			
			-5
			
			
			4
			
			
			2.4
			
			
			77
			
		


			Alset
			
			
			40V
			
			
			103,843,968
			
			
			6
			
			
			56
			
			
			6.8
			
			
			114
			
		


			V2Y Corp
			
			
			V2Y
			
			
			15,600,691
			
			
			91
			
			
			197
			
			
			0.3
			
			
			152
			
		


			Hyphens Pharma
			
			
			1J5
			
			
			93,133,424
			
			
			-23
			
			
			54
			
			
			0.7
			
			
			92
			
		


			Median
			
			
			 
			
			
			 
			
			
			-11
			
			
			117
			
			
			3
			
			
			123
			
		


			Average
			
			
			 
			
			
			 
			
			
			-3
			
			
			442
			
			
			4
			
			
			134
			
		

Source: SGX StockFacts, Bloomberg, Reuters (Data as of 14 December 2020)

 

The strongest perfomer of the 10 stocks in the 2020 year (to 14 Dec) was Medtecs. 

UG Healthcare was the next best performer reporting its 1QFY21 (ended 30 Sep) revenue more than doubled year-on-year on 5 November, mainly due to higher volume of gloves sold and average selling prices on the back of stronger demand for disposable gloves and supply constraints (click here for more).

As reported on 11 November, Jiutian Chemical’s quarterly net profit for 3QFY20 (ended 30 Sep) soared 57% over 2QFY20 despite a 20-day routine maintenance shutdown in early September 2020. Jiutian Chemical’s 2QFY20 was already a record quarterly net profit since the Company was listed in 2006. With the results, the Chairman noted a surge in demand for its main products of Dimethylformamide and methylamine from downstream customers who in turn are experiencing strong growth in both local and export markets for their products, in addition to rising demand for its products from users in the lithium batteries and semiconductor sectors, which are experiencing strong and sustainable growth in China (click here for more).

Aspen (Group) Holdings achieved revenue of RM62.4 million as at 3QFY20 (ended 30 Sep), a RM 6.9 million increase in revenue compared to 2QFY20. The increase was contributed from additional units sold in Tri Pinnacle and Vervea, as well as the progressive construction of Beacon Executive Suites and Vertu Resort during Recovery Movement Control Order phase. Following the completion of placement by the Aspen (Group) Holdings on 18 November, the funds will be used mainly to fund the construction of Phase 1 of the glove manufacturing facility which is expected to be completed by 1QFY21 and the Group targets to commence production by 2Q21 to bring between 1.6-1.8 billion gloves annually to the market.

The strongest performer since November 8 when the US media called Joe Biden the Winner of the US Election, followed by the announcement of the Pfizer/BioNtech vaccine results, was V2Y Corporation. V2Y Corporation (formerly Synagie Corporation) has recently sold its e-commerce business while seeking opportunities to expand its InsurTech business.

Rex International has gained 16% between 6 November and 14 December, as the price of Brent Crude Oil rallied 26% in SGD terms. Since listing in July 2013, Rex International has achieved four offshore discoveries, one in Oman and three in Norway. The Group also offers Rex Virtual Drilling screening services to other oil exploration companies as an additional tool to increase the success rate of finding oil.

The operations of Alset (formerly Singapore eDevelopment) span operations comprise Property Development, Info-Tech Related, Investment and Biomedical Businesses as captured in an infographic (click here) in the Business Times in early October. 

 

Medtecs was also the Most Traded Catalist Stock by Turnover in 2020 

For its 9MFY20 (ended 30 Sep), Medtecs reported a 1,442 per cent YoY increase in its gross profit. This was mostly attributed to the exporting of personal protective equipment (“PPE”) to over 30 countries in Southeast Asia, North Asia, US, Australia and Europe. Medtecs also serves as a one-stop vendor to hospitals, supplying PPE, workwear and medical consumables to more than 200 hospitals in Taiwan and the Philippines.

Looking forward the Group intends to increase its market share in the US by supplying locally manufactured facemasks starting in 1QFY21 while key growth markets in Asia Pacific such as Singapore, the Philippines and Taiwan remain. Medtecs is also aiming to increase productivity by systematically automating manufacturing processes and enhance employee training and education programs to remain competitive. Backed by Medtecs’ sustainable and scalable business model, built over the past 30 years, the Group maintains it is ready to embark on its next phase of growth, which is to be a global procurement platform for medical consumables and PPE. 

Other notable accolades this year include joining the MSCI Singapore Small Cap Index on Nov 30 and the board proposing to apply for a transfer from Catalist to the main board. On 18 November, Medtecs chief executive William Yang, who has over 10 years' experience in the textile industry, acquired one million shares of the company at an average price of 92.2 cents per share.

Catalist, the SGX sponsor-supervised board for growth companies, is now in its 13th year and home to 218 companies with a combined market capitalisation of S$11 billion. They come from geographical regions such as Singapore, Australia, Greater China, Indonesia, Israel, Japan, Malaysia, South Korea, Sweden and United Kingdom, across diverse sectors including Consumer, Technology, Healthcare, Energy and Industrials. With a view to expand their offerings and geographical footprint, these Catalist-listings provide accessibility in the capital formation process for comparatively new businesses.

At the same time the Catalist Board caters to the needs of fast-growing enterprises. Companies seeking a primary listing on the  Catalist Board must be brought to list by approved sponsors via an Initial Public Offering or a Reverse Takeover.  There are no quantitative entry criteria required by SGX. Instead, sponsors decide if the listing applicant is suitable to be listed using their house criteria. The quotation, trading and settlement of a stock listed on Catalist works the same way as a stock listed on the SGX Mainboard.



Medtecs Led Most Traded Catalist Stocks in 2020