SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

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.

Equity Bottom-Up

Japfa Ltd. operates in the agricultural industry. The Company breeds and processes chicken, pork and beef. Japfa also operates dairy farms.

Valuetronics Holdings Ltd. offers original equipment manufacturing and original design manufacturing services.  The Company serves customers in the telecommunications, industrial, commercial electronic products, and consumer electronic products industries.

<ul><li>Back in 1H24, Gartner projected significant growth in global semiconductor sales for 2024 and 2025, driven by a rebound in AI chips, memory pricing, PCs, smartphones, and consumer devices.</li><li>Aztech, Valuetronics and ISDN have shown mixed returns this year, with Valuetronics trading above its 5-year P/S average.</li><li>Aztech, Valuetronics and ISDN have been enhancing their manufacturing operations with Manufacturing Execution Systems (MES), leveraging software to increase production efficiency.</li></ul>

Back in 1H24, Gartner projected significant growth in global semiconductor sales for 2024 and 2025, driven by a rebound in AI chips, memory pricing, PCs, smartphones, and consumer devices.Aztech, Valuetronics and ISDN have shown mixed returns this year, with Valuetronics trading above its 5-year P/S average.Aztech, Valuetronics and ISDN have been enhancing their manufacturing operations with Manufacturing Execution Systems (MES), leveraging software to increase production efficiency.

Recent Driving Forces in the Technology Sector

Yangzijiang Financial Holding / Equity Bottom-Up

Yangzijiang Financial Holding Ltd operates as an investment holding company. The Company serves customers in Singapore.

<ul><li>Share buybacks can be used for employee compensation plans, such as share option schemes or employee share purchase plans, as well as for long-term capital management.</li><li>As at Nov 13, nearly 80 primary-listed companies have repurchased their shares on-market this year, amounting to S$1.03 billion in buyback consideration.</li><li>In 2024 to Nov 13, CLI bought back 126.2 million shares at an average price of S$2.72 per share.</li></ul>

Share buybacks can be used for employee compensation plans, such as share option schemes or employee share purchase plans, as well as for long-term capital management.As at Nov 13, nearly 80 primary-listed companies have repurchased their shares on-market this year, amounting to S$1.03 billion in buyback consideration.In 2024 to Nov 13, CLI bought back 126.2 million shares at an average price of S$2.72 per share.

CapitaLand Investment leads buyback consideration tally in 2024 till Nov 13

Professional Computer Tech / Equity Bottom-Up

Professional Computer Technology Limited distributes flash memories, TV (television) encoders, and passive components.  The Company acts as an agent for SST, Insyde, Apacer, ART, DiBcom, Emuzed, Ethertronics, Fidelica, J-Tek, Music, PARA, RadarSync, and Zytronic.

<ul><li>Last Friday, SGX welcomed the secondary listing of PC Partner on the SGX Mainboard by way of introduction.</li><li>PC Partner is a leading provider of innovative and reliable products, with a focus on video graphics cards (VGA Cards) and electronics manufacturing services (EMS) solutions offerings.</li><li>PC Partner shares are primary listed on the HKEX and secondary listed on the SGX following the introduction.</li></ul>

Last Friday, SGX welcomed the secondary listing of PC Partner on the SGX Mainboard by way of introduction.PC Partner is a leading provider of innovative and reliable products, with a focus on video graphics cards (VGA Cards) and electronics manufacturing services (EMS) solutions offerings.PC Partner shares are primary listed on the HKEX and secondary listed on the SGX following the introduction.

PC Partner – Leading Manufacturer of Computer Electronics – Debuts on SGX

Lundin Gold Inc. is a Canadian mining company. The Company owns and operates gold projects located in southeast Ecuador.

<ul><li>Ivan Chee, chief executive officer of iron ore producer Fortress Minerals, shares how it is innovating and diversifying into copper, a key material in green technologies, for its next stage of growth For Malaysian mining and iron ore producing company Fortress Minerals, the industrial boom since the end of the Covid-19 pandemic has been good for business.</li><li>The firm supplies iron ore to steel mills to make various products, and currently sells over 600,000 wet metric tonnes (WMT) of iron ore per year.</li></ul>

Ivan Chee, chief executive officer of iron ore producer Fortress Minerals, shares how it is innovating and diversifying into copper, a key material in green technologies, for its next stage of growth For Malaysian mining and iron ore producing company Fortress Minerals, the industrial boom since the end of the Covid-19 pandemic has been good for business.The firm supplies iron ore to steel mills to make various products, and currently sells over 600,000 wet metric tonnes (WMT) of iron ore per year.

kopi-C with Fortress Minerals’ CEO: ‘Our goal is to be a great Malaysian mining company’

Mr. Howie is the Singapore Exchange’s Market Strategist, responsible for communicating developments in Singapore’s stock market. He is the author of the SGX My Gateway Report, which has been educating investors since 2012. The report now has one of the largest subscriber bases in the Singapore market.
