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

Samudera Shipping Line / Equity Bottom-Up





In 2021, Singapore’s 150 most traded stocks contributed the lion’s share of the day-to-day turnover of the stock market, which included 18 stocks that saw a 10-fold+ increase in daily turnover from 2020, and another 15 stocks that saw a 5-fold+ increase in daily turnover.  
	 
	
The 18 stocks with the 10-fold+ increase averaged 166% price gains (138% median) over the year, while averaging 102% price volatility. Of the 18 stocks, OIO saw the highest increase in turnover, RH Petrogas saw the highest return, and Del Monte Pacific currently maintains the highest market cap.   
	 
	
The 18 stocks included Grand Venture which completed its transfer from Catalist to the Mainboard on 30 Nov. On 5 Jan, the company announced its third facility acquisition in Malaysia (in the space of two years), as it gears up to meet the anticipated growth in demand for its services from the semiconductor industry.  
	 
	The next 15 stocks with the 5-fold+ increase in daily turnover averaged 47% price gains (48% median) in 2021, while averaging 56% price volatility. Of the 15 stocks, Leader Env saw the highest increase in turnover, The Hour Glass saw the highest return, and Thomson Medical currently maintains the highest market cap.  

 More than 90% of the day-to-day trading turnover of Singapore-listed stocks in 2021 was generated by the most traded 150 stocks. With both macroeconomic and microeconomic factors at play, as many as 18 (12%) of these 150 stocks saw their trading turnover in 2021 grow more than 10-fold from 2020 levels. Another 15 (10%) of the 150 stocks saw their trading turnover in 2021 grow more than 5-fold.  
Many of the key macroeconomic drivers of 2021, including resilient investment, new global trade records, higher commodity prices and semiconductor demand impacted the participation in these stocks last year.  
On the microeconomic front, strategic efforts to restructure or pivot to new businesses for the sake of increasing shareholder value was also a key theme for the year. This was a relevant theme for OIO Holdings, which maintained the highest turnover growth of the 150 most traded stocks in 2021. During the year, the group, which had previously focused its core business on the provision of mechanical and electrical services and solutions, announced its intentions to expand into blockchain agency and related businesses. The company on 31 Mar acquired Moonstake for S$7.1 million (click here for more). The founder of Moonstake, Mitsuru Tezuka, is a Japanese national who has years of experience in the blockchain industry mainly in Singapore and Japan. KGI Securities noted back in December (click here &amp; here for more reports) that OIO Holdings was a relevant play to the decentralisation of the metaverse, along with another Catalist-listed company Vividthree Holdings.  The 18 of the 150 stocks that saw their trading turnover in 2021 grow more than 10-fold from 2020 levels are tabled below. The 18 stocks included Grand Venture Technology which completed its transfer from Catalist to the Mainboard on 30 Nov, and on 5 Jan, the company announced its third facility acquisition in Malaysia (in the space of two years), as it gears up to meet the anticipated growth in demand for its services from the semiconductor industry.




			Stocks with 10fold+ increase in Daily T/O
			
			
			Code
			
			
			2021 Avg. Daily T/O S$M
			
			
			T/O Growth (x) 
			
			
			2021 Net Insti. Inflow S$M
			
			
			Mkt Cap S$M
			
			
			% Price Change 2021
			
			
			% Volatility 2021
			
			
			Board
			
			
			% 2020 Price Change 
			
		


			OIO
			
			
			KUX
			
			
			         0.85
			
			
			18749
			
			
			0.9
			
			
			66.3
			
			
			133
			
			
			183
			
			
			CATALIST
			
			
			5
			
		


			RH Petrogas
			
			
			T13
			
			
			         1.64
			
			
			855
			
			
			-0.3
			
			
			151.2
			
			
			552
			
			
			144
			
			
			MAINBOARD
			
			
			-19
			
		


			Metech Intl
			
			
			V3M
			
			
			         0.98
			
			
			514
			
			
			-3.4
			
			
			47.0
			
			
			250
			
			
			161
			
			
			CATALIST
			
			
			-9
			
		


			Mercurius
			
			
			5RF
			
			
			         0.88
			
			
			445
			
			
			4.7
			
			
			88.9
			
			
			167
			
			
			115
			
			
			CATALIST
			
			
			-48
			
		


			LHN
			
			
			41O
			
			
			         0.81
			
			
			72
			
			
			1.4
			
			
			130.9
			
			
			68
			
			
			59
			
			
			CATALIST
			
			
			42
			
		


			Kim Heng
			
			
			5G2
			
			
			         0.54
			
			
			45
			
			
			0.5
			
			
			56.6
			
			
			144
			
			
			95
			
			
			CATALIST
			
			
			-40
			
		


			Golden Energy
			
			
			AUE
			
			
			         0.79
			
			
			44
			
			
			-0.8
			
			
			705.9
			
			
			80
			
			
			67
			
			
			MAINBOARD
			
			
			3
			
		


			Hatten Land
			
			
			PH0
			
			
			         1.36
			
			
			41
			
			
			-12.7
			
			
			80.6
			
			
			-31
			
			
			144
			
			
			CATALIST
			
			
			-18
			
		


			Fortress Minerals
			
			
			OAJ
			
			
			        0.59
			
			
			35
			
			
			-1.2
			
			
			205.0
			
			
			32
			
			
			70
			
			
			CATALIST
			
			
			28
			
		


			Samudera Shipping
			
			
			S56
			
			
			         0.59
			
			
			32
			
			
			-0.3
			
			
			307.3
			
			
			128
			
			
			44
			
			
			MAINBOARD
			
			
			59
			
		


			Grand Venture
			
			
			JLB
			
			
			         0.62
			
			
			23
			
			
			6.8
			
			
			396.9
			
			
			261
			
			
			50
			
			
			MAINBOARD
			
			
			25
			
		


			Sinjia Land
			
			
			5HH
			
			
			         0.52
			
			
			21
			
			
			-3.1
			
			
			20.5
			
			
			464
			
			
			143
			
			
			CATALIST
			
			
			-4
			
		


			CFM
			
			
			5EB
			
			
			         1.22
			
			
			18
			
			
			0.1
			
			
			18.9
			
			
			162
			
			
			138
			
			
			CATALIST
			
			
			135
			
		


			The Place Hldg
			
			
			E27
			
			
			         1.95
			
			
			18
			
			
			3.7
			
			
			405.8
			
			
			142
			
			
			89
			
			
			MAINBOARD
			
			
			83
			
		


			VCPlus
			
			
			43E
			
			
			         0.48
			
			
			17
			
			
			2.9
			
			
			68.3
			
			
			143
			
			
			113
			
			
			CATALIST
			
			
			-22
			
		


			Geo Energy Res
			
			
			RE4
			
			
			         2.06
			
			
			16
			
			
			29.5
			
			
			465.0
			
			
			82
			
			
			49
			
			
			MAINBOARD
			
			
			30
			
		


			Metal Component
			
			
			5DX
			
			
			         0.66
			
			
			12
			
			
			-0.9
			
			
			27.2
			
			
			104
			
			
			131
			
			
			CATALIST
			
			
			-23
			
		


			Del Monte Pac
			
			
			D03
			
			
			         0.56
			
			
			10
			
			
			7.3
			
			
			758.1
			
			
			107
			
			
			46
			
			
			MAINBOARD
			
			
			43
			
		

Source: SGX, Refinitiv, Bloomberg (Data as of 31 December 2021), Note Mkt Cap as of 10 Jan 2022

 

As detailed in the table above, the price gains of the 18 stocks varied from a 31% price decline for Hatten Land, to a 552% price gain for RH Petrogas. Traditionally a leading property developer in Malaysia specialising in integrated residential, hotel and commercial developments, Hatten Land has been progressively scaling up Crypto Mining activities, and has entered into two agreements to install and operate around 3,000 Crypto Mining rigs at malls owned or managed by Hatten Land, of which the Group expects to install and operate over 2,500 Crypto Mining rigs in 2022 (click here for more). As highlighted last week, RH Petrogas was also the strongest performer of the 100 most traded Singapore stocks in 2021, while posting a turnaround net profit of US$13.8 million in its 9MFY21 (ended 30 Sep), on the back of Brent Crude Oil futures rallying (from US$48.50/bbl to US$78.50/bbl on 30 Sep, to US$75.20/bbl by the end of 2021).  
Of the 18 stocks tabled above, Del Monte Pacific currently maintains the highest market capitalisation at S$758.1 million. After reporting net profit soared to US$63.3 million in FY21 (ended 30 April), reversing the US$81.4 million loss in FY20, Del Monte Pacific reported 1HFY22 (ended 31 Oct) net profit tripled YoY to US$54.1 million, supported by higher US and international market sales including the S&amp;W business in Asia.  In addition to the 18 stocks that saw the highest increase in daily turnover in 2021 among the 150 most traded stocks, another 15 stocks saw 5-fold+ increases in daily turnover over the year. Of the 15 stocks, Leader Environmental Technologies saw the highest increase in turnover, The Hour Glass saw the highest return, and of the 15, Thomson Medical Group currently maintains the highest market capitalisation.




			Stocks with 5-fold+ increase in Daily T/O
			
			
			Code
			
			
			2021 Avg. Daily T/O 

			S$M
			
			
			T/O Growth (x) 
			
			
			2021 Net Insti. Inflow S$M
			
			
			Mkt Cap S$M
			
			
			% Price Change 2021
			
			
			% Volatility 2021
			
			
			Board
			
			
			% 2020 Price Change 
			
		


			Leader Env
			
			
			LS9
			
			
			          0.94
			
			
			9.6
			
			
			-1.5
			
			
			105.9
			
			
			-8
			
			
			79
			
			
			MAINBOARD
			
			
			498
			
		


			APAC Realty
			
			
			CLN
			
			
			          0.75
			
			
			9.3
			
			
			8.3
			
			
			248.6
			
			
			62
			
			
			39
			
			
			MAINBOARD
			
			
			-9
			
		


			Koh Eco
			
			
			5HV
			
			
			          0.59
			
			
			9.3
			
			
			-1.9
			
			
			138.1
			
			
			61
			
			
			105
			
			
			CATALIST
			
			
			-43
			
		


			InnoTek
			
			
			M14
			
			
			          0.87
			
			
			9.2
			
			
			0.0
			
			
			175.0
			
			
			34
			
			
			34
			
			
			MAINBOARD
			
			
			26
			
		


			Tuan Sing
			
			
			T24
			
			
			          1.27
			
			
			9.0
			
			
			6.1
			
			
			558.7
			
			
			44
			
			
			35
			
			
			MAINBOARD
			
			
			-5
			
		


			Hong Fok
			
			
			H30
			
			
			          0.88
			
			
			8.9
			
			
			-5.0
			
			
			637.7
			
			
			3
			
			
			34
			
			
			MAINBOARD
			
			
			-6
			
		


			MM2 Asia
			
			
			1B0
			
			
			          0.94
			
			
			8.5
			
			
			6.1
			
			
			120.9
			
			
			-55
			
			
			69
			
			
			MAINBOARD
			
			
			-51
			
		


			The Hour Glass
			
			
			AGS
			
			
			          0.56
			
			
			7.5
			
			
			2.3
			
			
			1371.3
			
			
			155
			
			
			35
			
			
			MAINBOARD
			
			
			-1
			
		


			PropNex
			
			
			OYY
			
			
			          1.11
			
			
			7.1
			
			
			0.5
			
			
			617.9
			
			
			117
			
			
			39
			
			
			MAINBOARD
			
			
			51
			
		


			Sarine Tech
			
			
			U77
			
			
			          1.46
			
			
			6.8
			
			
			-0.3
			
			
			207.1
			
			
			48
			
			
			53
			
			
			MAINBOARD
			
			
			14
			
		


			Thomson Medical
			
			
			A50
			
			
			          2.83
			
			
			6.6
			
			
			20.1
			
			
			2221.0
			
			
			68
			
			
			51
			
			
			MAINBOARD
			
			
			-22
			
		


			Q&amp;M Dental
			
			
			QC7
			
			
			          2.63
			
			
			6.5
			
			
			9.2
			
			
			563.7
			
			
			54
			
			
			38
			
			
			MAINBOARD
			
			
			-2
			
		


			Oceanus
			
			
			579
			
			
			          4.30
			
			
			5.6
			
			
			-27.3
			
			
			704.6
			
			
			11
			
			
			95
			
			
			MAINBOARD
			
			
			575
			
		


			Totm Tech
			
			
			42F
			
			
			          1.12
			
			
			5.6
			
			
			15.3
			
			
			229.7
			
			
			114
			
			
			76
			
			
			CATALIST
			
			
			773
			
		


			Enviro-Hub
			
			
			L23
			
			
			          0.52
			
			
			5.0
			
			
			-0.3
			
			
			85.6
			
			
			0
			
			
			55
			
			
			MAINBOARD
			
			
			196
			
		

Source: SGX, Refinitiv, Bloomberg (Data as of 31 December 2021), Note Mkt Cap as of 10 Jan 2022.

 

While the stocks tabled above, averaged higher returns than the STI they also saw comparatively higher volatility over the year. The 15 stocks with the 5-fold+ increase in daily turnover averaged 47% price gains (48% median) over the year, while averaging 56% volatility. The 18 stocks with the 10-fold+ increase averaged 166% price gains (138% median) over the year, on average volatility of 102%. By comparison, DBS Group Holdings, Oversea-Chinese Banking Corporation and United Overseas Bank which averaged 21% price gains in 2021 saw 16% volatility.  



Stocks with Significant Trading Growth in 2021 – Metaverse At Play?