Author: SGX My Gateway

September Quarter Earnings Schedule for S-REITs

SPH REIT kicked off the September quarter financial reporting season for the 36 constituents of the SGX S-REIT Index, reporting its fiscal 4Q 2017 results. Soilbuild Business Space REIT and Keppel DC REIT have followed suit with their fiscal 3Q 2017 results. The SGX S-REIT Index generated a total return of +21.2% in the year-to-date, outperforming the S&P Asia Pacific REIT Index and MSCI World REIT Index, which generated total returns of -0.7% and +1.5% respectively in SGD terms. The 36 trusts averaged a year-to-date total return of +21.4%, while maintaining an average distribution yield of 6.4%. Of these...

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Catalist Stocks Offer Diversity Across Sectors and Geography

Approximately one-fifth of Catalist companies generate at least half their revenue from ASEAN (excluding Singapore). With its geographical proximity, ASEAN is expected to be a key beneficiary and bridgehead of OBOR as it sees more infrastructure developments, increased trade and regional connectivity.  All 11 GICS® sectors are well-represented on the Catalist board, with wider diversity on the Industry level, providing investors with the opportunity to invest in a wide range of businesses or industries.  In the recent years, there were many “firsts” and niche industry segments to list on Catalist. Examples include the first coffee shop operator (Kimly Limited)...

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STI September Quarter Earnings Schedule

Singapore Press Holdings will kick-start the September quarter earnings reporting season for Straits Times Index (STI) constituents tomorrow. Keppel Corp will follow suit next week, releasing their earnings on 19 October. In the year-to-date, the Straits Times Index (STI) generated a total return of 17.6%, above the average of 15.1% for regional indices in SGD terms. The simple average total return of the 30 constituents was 17.7% in the year-to-date, and they have a median Return on Equity (ROE) of 9.7%. They averaged Price-to-Earnings (P/E) and Price-to-Book (P/B) ratios of 15.7x and 2.4x respectively, and a ROE of 15.9%*....

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Pure-Play Real Estate Broker APAC Realty Debuts on SGX

APAC Realty, a market-leading Singapore-based real estate brokerage, made its trading debut on the Mainboard today. It has three main business segments – Real Estate Brokerage Services, Franchise Arrangements, and Training, Valuation & other Ancillary Services.  Singapore’s primary residential market (excl. ECs) transaction volume is forecast to grow at a CAGR of 5.6% from 2017 to 2021. Government policies, steady population income growth, and limited supply of residential units are some potential drivers for the industry.  APAC Realty intends to recommend and distribute dividends of at least 50% of net profit after tax (ex. Exceptional items) for FY17 and...

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Ten Largest Catalist Stocks Outperformed STI Benchmark in YTD

Catalist, a platform for smaller-sized yet fast-growing enterprises, celebrates its 10th year anniversary. It has doubled its size in the past decade, listing 197 stocks with a combined market capitalisation of S$11.6 billion today. Fund-raising activities on Catalist have also accelerated in recent years. In the past five years, IPO market capitalisation has grown over 140%, and initial funds raised were nearly 180% larger compared to the platform’s initial five years after it was established.  The 10 biggest Catalist stocks have a market capitalisation-weighted average price return of +35.2% in the YTD, outperforming STI’s +12.4%. The five best performing...

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Tech Sector Led in Sep, Venture now Biggest Stock in the STI Reserve List

The IT Sector was the strongest of Singapore’s Sectors in September, with market capitalisation weighted total returns of 3.9%. This was followed by the Energy Sector with a 2.6% return and the Consumer Discretionary Sector with a 1.1% return. Overnight, SIPMM reported that Singapore’s electronics cluster’s PMI posted a reading of 53.6 in September, up from August’s reading of 53.2, its 14th straight month of expansion and the highest recorded reading since July 2010. In addition to being the largest capitalised stock of the IT Sector, Venture is currently the biggest stock on the STI Reserve List by full...

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This Week’s ETF Focus includes APAC REIT Dividend-Plays

The Phillip SGX APAC Dividend Leaders REIT ETF is distributing 2.05 US cents per unit with an ex-dividend date of Friday 29 Sep while the NikkoAM-StraitsTrading Asia ex Japan REIT ETF will distribute 1.128 SGD cents per unit with an ex-dividend date of Monday 2 Oct.  Both these REIT-focused ETFs have outperformed the MSCI World Equity REITs Index from their respective inception dates. The Phillip SGX APAC Dividend Leaders REIT ETF listed in Oct 2016 and the NikkoAM-StraitsTrading Asia ex Japan REIT ETF listed in Mar 2017.  Other relevant ETF highlights included Chancellor of Germany Angela Merkel winning her...

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UnUsUaL & Kimly have Biggest Weights in FTSE Catalist Index

With effect from this week, more than a dozen stocks were added to the FTSE ST Catalist Index. Two of these entrants  – UnUsUaL and Kimly – now maintain the highest and second highest weights within the Index. UnUsUaL was listed in April 2017, has gained 137.5% from its initial offer price and maintains a 6% weight in the Index. Kimly was listed in March 2017, has gained 46% from its initial offer price and maintains a 5% weight in the Index. Aspen (Group) Holdings, which listed in July 2017, is now the fifth biggest weight of the FTSE...

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China-Focused Materials Stocks Led Sector’s YTD Gains

The Materials Sector has been Singapore’s second best performing Sector in the 2017 YTD with   a market capitalisation-weighted average price gain of 31%.  This compared to a 10% gain for the MSCI World Materials Index. The YTD median gain of Singapore’s 10 largest capitalised Materials stocks was 5%, with a much higher average gain of 54%. Meanwhile, Singapore’s 10 largest capitalised Materials stocks that report the majority of their revenue to China generated a YTD median gain of 44% and average gain of 87%. As many as seven of Singapore’s 10 largest capitalised Materials stocks with a China revenue...

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Singapore’s REIT Sector Averaged 19% YTD Total Return

Singapore’s 31 REITs and six Stapled Trusts have averaged a 19% total return in the 2017 YTD. All these trusts have generated gains over the period which range from 5% for Fortune REIT to 34% for Sabana Shariah Compliant Industrial REIT.  Singapore REITs have a current gearing ratio limit of 45%. The 31 REITs and six stapled trusts average a 34.6% gearing ratio, which range from 25.6% for SPH REIT to 43.4% for Cache Logistics Trust. In addition to the type of property assets and geographical locations, varied gearing ratios may also serve as a differentiator for REIT Sector...

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Extensive Regional Linkages of the Consumer Sectors

Both the Consumer Discretionary and Consumer Staples Sectors have generated gains in the 2017 YTD, with Discretionary leading Staples. The majority of the biggest stocks that make up these Sectors report regional revenue. Consumer Discretionary heavyweight Dairy Farm International will join the FTSE ST Large & Mid Cap Index on 18 September. The eligibility of Dairy Farm for the STI will be assessed in March 2018, and will be based on comparative market capitalisation in addition to reviews of its liquidity, free float and shares in issue. This morning, Consumer Staples stock Del Monte Pacific reported 1QFY18 results. The...

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August’s IT Sector Gains Coincided with Strong Electronics PMI

The IT Sector was the strongest of Singapore’s Sectors in August, with market capitalisation weighted total returns of 11.7%. This was followed by the Industrial Sector with a 2.9% return and the Utilities Sector with a 2.6% return. SIPMM reported last night that Singapore’s electronics cluster’s PMI posted a reading of 53.2 in August, up from July’s reading of 52.2 and the highest recorded reading since November 2010.  The largest capitalised stock of Singapore’s IT Sector – Venture Corporation – will join the STI Reserve List on 18 September. With a market capitalisation of  S$4.5 billion, Venture makes up...

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GEAR, Geo Energy & BlackGold Reported 2QFY17 Revenue Growth

Golden Energy and Resources (“GEAR”), Geo Energy Resources and BlackGold Natural Resources have all generated share price gains in the 2017 YTD. This has coincided with the monthly Harga Batubara Acuan thermal coal price being set at a seven-month high on 7 August.  Two of these stocks reported significant profit growth in their 1HFY17. GEAR reported net profit of US$48.7 million in 1HFY17, up from US$1.7 million in 1HFY16. Geo Energy posted 1HFY17 net profit from continuing operations at US$24.6 million, up from US$1.4 million in 1H16.   BlackGold reported a net loss of US$2.8M in 1HFY17, with revenue...

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SGX Healthcare Index Outperformed Asian Benchmark in YTD

In the 2017 year-to-date, the SGX All Healthcare Index has registered a price gain of 2.7%, outperforming the MSCI AC Asia ex Japan Health Care Index’s 1.9% in Singapore dollar terms. The five best-performing index constituents have averaged a price return of 63.8% in the year-to-date: Suntar Eco-City (+113.3%), International Healthway Corp (+76.0%), STAR Pharmaceutical (+44.8%), Singapore Medical Group (+42.5%), and Healthway Medical Corp (+42.4%).  Many Singapore-listed healthcare providers are leveraging on the industry’s favourable demand trends, expanding into regional and/or global markets to meet growing patient needs. Among the 10 constituent stocks with the highest weightings in the...

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STI’s Recent Risk-Adjusted Returns Beat Regional Benchmarks

The STI generated a weighted 12.7% price return in the 2017 YTD, whilst generating a weighted 180 day annualised volatility of 8.5%. This is compared to an average of 7.3% in price return for the S&P/ASX 200, Hang Seng Index and the Nikkei 225 Index, with average 180 day annualised volatility of 12.1%. The STI’s 10 Industrial stocks have averaged 12.3% price returns in the 2017 YTD, marginally outpacing non-weighted average price returns of the 30 STI stocks at 12.1%. The marginal excess return came with a proportional level of added risk.  The STI’s Industrial stocks that generated the strongest...

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