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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<li>
The 51-member FTSE ST Small Cap Index tracks the performance of small-cap companies that pass size, free float and liquidity screens and trade on SGX Mainboard. As the Index has a significant Real Estate weighting – with 19 REIT constituents – it maintains a relatively high average dividend indicated yield of about 4.5%, above the STI’s 3.9% yield. 
	 </li>
	<li>
Of the Index’s 32 non-REIT constituents, 12 have indicated yields of above 4%. Among these 12, the five best-yielding stocks are: Duty Free (9.3%), Delong (9.2%), SIIC Environment (6.3%), UMS (6.2%), and QAF (6.0%). They average an indicated yield of 7.4%. 
	 </li>
	<li>Among the 12 best-yielding stocks, the five best performers in the YTD were: QAF (+43.6%), UMS (+28.1%), Chip Eng Seng (+20.5%), Bumitama Agri (+15.3%) and Lian Beng Group (+15.1%). They have averaged a YTD total return of 24.5%.</li>
</ul>
 

The FTSE ST Small Cap Index is a free float-adjusted, market capitalisation-weighted index representing the performance of small-capitalised companies, which pass size, free float and liquidity screens and trade on SGX Mainboard. The Index comprises 51 constituents with a combined market capitalisation of about S$40 billion, ranging from S$63 million to over S$2 billion. More broadly, beyond the Index are approximately 200 stocks listed on SGX that fall within this market capitalisation range.

The 10 largest capitalised constituents of the FTSE ST Small Cap Index account for more than a third of the Index’s weighting, and comprise six Real Estate Investment Trusts (REITs), two consumer stocks, one healthcare play, and one financial services provider. Given the significant Real Estate weighting in the Index – there are a total of 19 REIT constituents – it maintains a relatively high average dividend indicated yield of about 4.5%, above the benchmark Straits Times Index’s (STI) 3.9% yield.

Excluding REITs and business trusts, the Index has 32 non-REIT constituents, with dividend indicated yields ranging from below 1% to above 9%. Of these 32, 12 stocks have indicated yields of above 4%. Among the 12, the five best-yielding Index constituents are: Duty Free International (9.3%), Delong Holdings (9.2%), SIIC Environment (6.3%), UMS Holdings (6.2%), and QAF Ltd (6.0%). These five have averaged an indicated yield of 7.4%.

The table below details the 12 non-REIT constituents of the FTSE ST Small Cap Index with yields above 4.0%, sorted by dividend indicated yield.

<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>
			Div Ind Yld (%)
			</td>
			<td>
			P/E (x)
			</td>
		</tr>
<tr>
<td>
			DUTY FREE INTL
			</td>
			<td>
			5SO
			</td>
			<td>
			234
			</td>
			<td>
			3.9
			</td>
			<td>
			-1.6
			</td>
			<td>
			-34.9
			</td>
			<td>
			9.3
			</td>
			<td>
			15.6
			</td>
		</tr>
<tr>
<td>
			DELONG HOLDINGS
			</td>
			<td>
			BQO
			</td>
			<td>
			673
			</td>
			<td>
			-3.2
			</td>
			<td>
			58.3
			</td>
			<td>
			2074.1
			</td>
			<td>
			9.2
			</td>
			<td>
			2.0
			</td>
		</tr>
<tr>
<td>
			SIIC ENVIRONMENT
			</td>
			<td>
			BHK
			</td>
			<td>
			808
			</td>
			<td>
			12.7
			</td>
			<td>
			-26.6
			</td>
			<td>
			-53.5
			</td>
			<td>
			6.3
			</td>
			<td>
			7.4
			</td>
		</tr>
<tr>
<td>
			UMS HOLDINGS
			</td>
			<td>
			558
			</td>
			<td>
			392
			</td>
			<td>
			28.1
			</td>
			<td>
			-28.0
			</td>
			<td>
			84.0
			</td>
			<td>
			6.2
			</td>
			<td>
			9.1
			</td>
		</tr>
<tr>
<td>
			QAF LTD
			</td>
			<td>
			Q01
			</td>
			<td>
			483
			</td>
			<td>
			43.6
			</td>
			<td>
			-14.9
			</td>
			<td>
			-11.5
			</td>
			<td>
			6.0
			</td>
			<td>
			59.1
			</td>
		</tr>
<tr>
<td>
			BUMITAMA AGRI
			</td>
			<td>
			P8Z
			</td>
			<td>
			1,242
			</td>
			<td>
			15.3
			</td>
			<td>
			3.4
			</td>
			<td>
			1.0
			</td>
			<td>
			5.6
			</td>
			<td>
			11.9
			</td>
		</tr>
<tr>
<td>
			HONG LEONG FINANCE
			</td>
			<td>
			S41
			</td>
			<td>
			1,242
			</td>
			<td>
			9.4
			</td>
			<td>
			4.2
			</td>
			<td>
			32.1
			</td>
			<td>
			5.4
			</td>
			<td>
			10.5
			</td>
		</tr>
<tr>
<td>
			CHIP ENG SENG
			</td>
			<td>
			C29
			</td>
			<td>
			498
			</td>
			<td>
			20.5
			</td>
			<td>
			-17.1
			</td>
			<td>
			31.0
			</td>
			<td>
			5.1
			</td>
			<td>
			8.0
			</td>
		</tr>
<tr>
<td>
			METRO HOLDINGS
			</td>
			<td>
			M01
			</td>
			<td>
			856
			</td>
			<td>
			2.0
			</td>
			<td>
			-8.0
			</td>
			<td>
			19.5
			</td>
			<td>
			4.9
			</td>
			<td>
			20.1
			</td>
		</tr>
<tr>
<td>
			CHINA SUNSINE CHEMICAL
			</td>
			<td>
			CH8
			</td>
			<td>
			570
			</td>
			<td>
			-7.9
			</td>
			<td>
			-21.4
			</td>
			<td>
			232.1
			</td>
			<td>
			4.7
			</td>
			<td>
			4.4
			</td>
		</tr>
<tr>
<td>
			CENTURION CORP
			</td>
			<td>
			OU8
			</td>
			<td>
			366
			</td>
			<td>
			4.8
			</td>
			<td>
			-2.3
			</td>
			<td>
			34.9
			</td>
			<td>
			4.6
			</td>
			<td>
			4.6
			</td>
		</tr>
<tr>
<td>
			LIAN BENG GROUP
			</td>
			<td>
			L03
			</td>
			<td>
			262
			</td>
			<td>
			15.1
			</td>
			<td>
			-8.7
			</td>
			<td>
			27.0
			</td>
			<td>
			4.3
			</td>
			<td>
			4.6
			</td>
		</tr>
<tr>
<td>
			Average
			</td>
			<td>
			 
			</td>
			<td>
			 
			</td>
			<td>
			12.0
			</td>
			<td>
			-5.2
			</td>
			<td>
			203.0
			</td>
			<td>
			5.9
			</td>
			<td>
			13.1
			</td>
		</tr>
</tbody></table>
Source: Bloomberg &amp; StockFacts (data as of 30 April 2019)

Among these 12 best-yielding stocks, the five best performers in the 2019 year-to-date were: QAF (+43.6%), UMS (+28.1%), Chip Eng Seng (+20.5%), Bumitama Agri (+15.3%) and Lian Beng Group (+15.1%). The five have averaged a YTD total return of 24.5%.

The table below details the 12 non-REIT constituents of the FTSE ST Small Cap Index with yields above 4.0%, sorted by YTD total return.

<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>
			Div Ind Yld (%)
			</td>
			<td>
			P/E (x)
			</td>
		</tr>
<tr>
<td>
			QAF LTD
			</td>
			<td>
			Q01
			</td>
			<td>
			483
			</td>
			<td>
			43.6
			</td>
			<td>
			-14.9
			</td>
			<td>
			-11.5
			</td>
			<td>
			6.0
			</td>
			<td>
			59.1
			</td>
		</tr>
<tr>
<td>
			UMS HOLDINGS
			</td>
			<td>
			558
			</td>
			<td>
			392
			</td>
			<td>
			28.1
			</td>
			<td>
			-28.0
			</td>
			<td>
			84.0
			</td>
			<td>
			6.2
			</td>
			<td>
			9.1
			</td>
		</tr>
<tr>
<td>
			CHIP ENG SENG
			</td>
			<td>
			C29
			</td>
			<td>
			498
			</td>
			<td>
			20.5
			</td>
			<td>
			-17.1
			</td>
			<td>
			31.0
			</td>
			<td>
			5.1
			</td>
			<td>
			8.0
			</td>
		</tr>
<tr>
<td>
			BUMITAMA AGRI
			</td>
			<td>
			P8Z
			</td>
			<td>
			1,242
			</td>
			<td>
			15.3
			</td>
			<td>
			3.4
			</td>
			<td>
			1.0
			</td>
			<td>
			5.6
			</td>
			<td>
			11.9
			</td>
		</tr>
<tr>
<td>
			LIAN BENG GROUP
			</td>
			<td>
			L03
			</td>
			<td>
			262
			</td>
			<td>
			15.1
			</td>
			<td>
			-8.7
			</td>
			<td>
			27.0
			</td>
			<td>
			4.3
			</td>
			<td>
			4.6
			</td>
		</tr>
<tr>
<td>
			SIIC ENVIRONMENT
			</td>
			<td>
			BHK
			</td>
			<td>
			808
			</td>
			<td>
			12.7
			</td>
			<td>
			-26.6
			</td>
			<td>
			-53.5
			</td>
			<td>
			6.3
			</td>
			<td>
			7.4
			</td>
		</tr>
<tr>
<td>
			HONG LEONG FINANCE
			</td>
			<td>
			S41
			</td>
			<td>
			1,242
			</td>
			<td>
			9.4
			</td>
			<td>
			4.2
			</td>
			<td>
			32.1
			</td>
			<td>
			5.4
			</td>
			<td>
			10.5
			</td>
		</tr>
<tr>
<td>
			CENTURION CORP
			</td>
			<td>
			OU8
			</td>
			<td>
			366
			</td>
			<td>
			4.8
			</td>
			<td>
			-2.3
			</td>
			<td>
			34.9
			</td>
			<td>
			4.6
			</td>
			<td>
			4.6
			</td>
		</tr>
<tr>
<td>
			DUTY FREE INTL
			</td>
			<td>
			5SO
			</td>
			<td>
			234
			</td>
			<td>
			3.9
			</td>
			<td>
			-1.6
			</td>
			<td>
			-34.9
			</td>
			<td>
			9.3
			</td>
			<td>
			15.6
			</td>
		</tr>
<tr>
<td>
			METRO HOLDINGS
			</td>
			<td>
			M01
			</td>
			<td>
			856
			</td>
			<td>
			2.0
			</td>
			<td>
			-8.0
			</td>
			<td>
			19.5
			</td>
			<td>
			4.9
			</td>
			<td>
			20.1
			</td>
		</tr>
<tr>
<td>
			DELONG HOLDINGS
			</td>
			<td>
			BQO
			</td>
			<td>
			673
			</td>
			<td>
			-3.2
			</td>
			<td>
			58.3
			</td>
			<td>
			2074.1
			</td>
			<td>
			9.2
			</td>
			<td>
			2.0
			</td>
		</tr>
<tr>
<td>
			CHINA SUNSINE CHEMICAL
			</td>
			<td>
			CH8
			</td>
			<td>
			570
			</td>
			<td>
			-7.9
			</td>
			<td>
			-21.4
			</td>
			<td>
			232.1
			</td>
			<td>
			4.7
			</td>
			<td>
			4.4
			</td>
		</tr>
<tr>
<td>
			Average
			</td>
			<td>
			 
			</td>
			<td>
			 
			</td>
			<td>
			12.0
			</td>
			<td>
			-5.2
			</td>
			<td>
			203.0
			</td>
			<td>
			5.9
			</td>
			<td>
			13.1
			</td>
		</tr>
</tbody></table>
Source: Bloomberg &amp; StockFacts (data as of 30 April 2019)
</body></html>





The 51-member FTSE ST Small Cap Index tracks the performance of small-cap companies that pass size, free float and liquidity screens and trade on SGX Mainboard. As the Index has a significant Real Estate weighting – with 19 REIT constituents – it maintains a relatively high average dividend indicated yield of about 4.5%, above the STI’s 3.9% yield. 
	 
	
Of the Index’s 32 non-REIT constituents, 12 have indicated yields of above 4%. Among these 12, the five best-yielding stocks are: Duty Free (9.3%), Delong (9.2%), SIIC Environment (6.3%), UMS (6.2%), and QAF (6.0%). They average an indicated yield of 7.4%. 
	 
	Among the 12 best-yielding stocks, the five best performers in the YTD were: QAF (+43.6%), UMS (+28.1%), Chip Eng Seng (+20.5%), Bumitama Agri (+15.3%) and Lian Beng Group (+15.1%). They have averaged a YTD total return of 24.5%.

 

The FTSE ST Small Cap Index is a free float-adjusted, market capitalisation-weighted index representing the performance of small-capitalised companies, which pass size, free float and liquidity screens and trade on SGX Mainboard. The Index comprises 51 constituents with a combined market capitalisation of about S$40 billion, ranging from S$63 million to over S$2 billion. More broadly, beyond the Index are approximately 200 stocks listed on SGX that fall within this market capitalisation range.

The 10 largest capitalised constituents of the FTSE ST Small Cap Index account for more than a third of the Index’s weighting, and comprise six Real Estate Investment Trusts (REITs), two consumer stocks, one healthcare play, and one financial services provider. Given the significant Real Estate weighting in the Index – there are a total of 19 REIT constituents – it maintains a relatively high average dividend indicated yield of about 4.5%, above the benchmark Straits Times Index’s (STI) 3.9% yield.

Excluding REITs and business trusts, the Index has 32 non-REIT constituents, with dividend indicated yields ranging from below 1% to above 9%. Of these 32, 12 stocks have indicated yields of above 4%. Among the 12, the five best-yielding Index constituents are: Duty Free International (9.3%), Delong Holdings (9.2%), SIIC Environment (6.3%), UMS Holdings (6.2%), and QAF Ltd (6.0%). These five have averaged an indicated yield of 7.4%.

The table below details the 12 non-REIT constituents of the FTSE ST Small Cap Index with yields above 4.0%, sorted by dividend indicated yield.




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


			DUTY FREE INTL
			
			
			5SO
			
			
			234
			
			
			3.9
			
			
			-1.6
			
			
			-34.9
			
			
			9.3
			
			
			15.6
			
		


			DELONG HOLDINGS
			
			
			BQO
			
			
			673
			
			
			-3.2
			
			
			58.3
			
			
			2074.1
			
			
			9.2
			
			
			2.0
			
		


			SIIC ENVIRONMENT
			
			
			BHK
			
			
			808
			
			
			12.7
			
			
			-26.6
			
			
			-53.5
			
			
			6.3
			
			
			7.4
			
		


			UMS HOLDINGS
			
			
			558
			
			
			392
			
			
			28.1
			
			
			-28.0
			
			
			84.0
			
			
			6.2
			
			
			9.1
			
		


			QAF LTD
			
			
			Q01
			
			
			483
			
			
			43.6
			
			
			-14.9
			
			
			-11.5
			
			
			6.0
			
			
			59.1
			
		


			BUMITAMA AGRI
			
			
			P8Z
			
			
			1,242
			
			
			15.3
			
			
			3.4
			
			
			1.0
			
			
			5.6
			
			
			11.9
			
		


			HONG LEONG FINANCE
			
			
			S41
			
			
			1,242
			
			
			9.4
			
			
			4.2
			
			
			32.1
			
			
			5.4
			
			
			10.5
			
		


			CHIP ENG SENG
			
			
			C29
			
			
			498
			
			
			20.5
			
			
			-17.1
			
			
			31.0
			
			
			5.1
			
			
			8.0
			
		


			METRO HOLDINGS
			
			
			M01
			
			
			856
			
			
			2.0
			
			
			-8.0
			
			
			19.5
			
			
			4.9
			
			
			20.1
			
		


			CHINA SUNSINE CHEMICAL
			
			
			CH8
			
			
			570
			
			
			-7.9
			
			
			-21.4
			
			
			232.1
			
			
			4.7
			
			
			4.4
			
		


			CENTURION CORP
			
			
			OU8
			
			
			366
			
			
			4.8
			
			
			-2.3
			
			
			34.9
			
			
			4.6
			
			
			4.6
			
		


			LIAN BENG GROUP
			
			
			L03
			
			
			262
			
			
			15.1
			
			
			-8.7
			
			
			27.0
			
			
			4.3
			
			
			4.6
			
		


			Average
			
			
			 
			
			
			 
			
			
			12.0
			
			
			-5.2
			
			
			203.0
			
			
			5.9
			
			
			13.1
			
		

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

Among these 12 best-yielding stocks, the five best performers in the 2019 year-to-date were: QAF (+43.6%), UMS (+28.1%), Chip Eng Seng (+20.5%), Bumitama Agri (+15.3%) and Lian Beng Group (+15.1%). The five have averaged a YTD total return of 24.5%.

The table below details the 12 non-REIT constituents of the FTSE ST Small Cap Index with yields above 4.0%, sorted by YTD total return.




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


			QAF LTD
			
			
			Q01
			
			
			483
			
			
			43.6
			
			
			-14.9
			
			
			-11.5
			
			
			6.0
			
			
			59.1
			
		


			UMS HOLDINGS
			
			
			558
			
			
			392
			
			
			28.1
			
			
			-28.0
			
			
			84.0
			
			
			6.2
			
			
			9.1
			
		


			CHIP ENG SENG
			
			
			C29
			
			
			498
			
			
			20.5
			
			
			-17.1
			
			
			31.0
			
			
			5.1
			
			
			8.0
			
		


			BUMITAMA AGRI
			
			
			P8Z
			
			
			1,242
			
			
			15.3
			
			
			3.4
			
			
			1.0
			
			
			5.6
			
			
			11.9
			
		


			LIAN BENG GROUP
			
			
			L03
			
			
			262
			
			
			15.1
			
			
			-8.7
			
			
			27.0
			
			
			4.3
			
			
			4.6
			
		


			SIIC ENVIRONMENT
			
			
			BHK
			
			
			808
			
			
			12.7
			
			
			-26.6
			
			
			-53.5
			
			
			6.3
			
			
			7.4
			
		


			HONG LEONG FINANCE
			
			
			S41
			
			
			1,242
			
			
			9.4
			
			
			4.2
			
			
			32.1
			
			
			5.4
			
			
			10.5
			
		


			CENTURION CORP
			
			
			OU8
			
			
			366
			
			
			4.8
			
			
			-2.3
			
			
			34.9
			
			
			4.6
			
			
			4.6
			
		


			DUTY FREE INTL
			
			
			5SO
			
			
			234
			
			
			3.9
			
			
			-1.6
			
			
			-34.9
			
			
			9.3
			
			
			15.6
			
		


			METRO HOLDINGS
			
			
			M01
			
			
			856
			
			
			2.0
			
			
			-8.0
			
			
			19.5
			
			
			4.9
			
			
			20.1
			
		


			DELONG HOLDINGS
			
			
			BQO
			
			
			673
			
			
			-3.2
			
			
			58.3
			
			
			2074.1
			
			
			9.2
			
			
			2.0
			
		


			CHINA SUNSINE CHEMICAL
			
			
			CH8
			
			
			570
			
			
			-7.9
			
			
			-21.4
			
			
			232.1
			
			
			4.7
			
			
			4.4
			
		


			Average
			
			
			 
			
			
			 
			
			
			12.0
			
			
			-5.2
			
			
			203.0
			
			
			5.9
			
			
			13.1
			
		

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



China Sunsine Chemical Holdings Ltd (CSSC SP)

Small Cap Index’s Five Best-Yielding Stocks Average 7.4% Yield      

Chip Eng Seng Corp

Small Cap Index’s Five Best-Yielding Stocks Average 7.4% Yield