💡Analyst Spotlight for 31 March 2021
⏺ Company Update on Hyphens Pharma (1J5) by SAC Capital: Growing regional presence
Proprietary brands were key revenue driver. Maintain BUY but at lower fair value of S$0.37 (from S$0.39). DCF-derived target price translates into a FY21E P/E of 18.3x.
https://bit.ly/31xnsuy
⏺ Company Update on ARA US Hospitality Trust (XZL) by DBS Research: Recovery within reach
Attractive dividend yield in excess of 10% once recovery takes hold. Maintain BUY with DCF-derived TP of US$0.69 is based on WACC of 7.62% and terminal growth rate of 2.25%.
https://bit.ly/3fuKJWb
⏺ Company Update on UMS Holdings (558) by KGI Securities: Market leader rallies the troops
Reported 4Q20 results with sales +9% YoY. Key customer continues raising guidance. Maintain OUTPERFORM with raised TP of S$1.43.
https://bit.ly/2PotKKL
🗂 For more broker research reports: https://bit.ly/318TlLk
⏺ Company Update on Hyphens Pharma (1J5) by SAC Capital: Growing regional presence
Proprietary brands were key revenue driver. Maintain BUY but at lower fair value of S$0.37 (from S$0.39). DCF-derived target price translates into a FY21E P/E of 18.3x.
https://bit.ly/31xnsuy
⏺ Company Update on ARA US Hospitality Trust (XZL) by DBS Research: Recovery within reach
Attractive dividend yield in excess of 10% once recovery takes hold. Maintain BUY with DCF-derived TP of US$0.69 is based on WACC of 7.62% and terminal growth rate of 2.25%.
https://bit.ly/3fuKJWb
⏺ Company Update on UMS Holdings (558) by KGI Securities: Market leader rallies the troops
Reported 4Q20 results with sales +9% YoY. Key customer continues raising guidance. Maintain OUTPERFORM with raised TP of S$1.43.
https://bit.ly/2PotKKL
🗂 For more broker research reports: https://bit.ly/318TlLk
SGX Research's kopi-C: Grand Venture Technology: Engineering Cutting-Edge Growth
Recently, we spoke with Julian Ng, CEO of Catalist-listed manufacturing solutions and services provider Grand Venture Technology Ltd (GVT). Find out how the 49-year-old intends to realise the Group's vision of building a home-grown brand in advanced manufacturing capabilities, serving the semiconductor, analytical life sciences, medical and industrial automation industries.
Read more at: https://bit.ly/3rGR3fZ
Learn more about investing and trading with curated series of Educational Videos at https://bit.ly/3dNupwV
Recently, we spoke with Julian Ng, CEO of Catalist-listed manufacturing solutions and services provider Grand Venture Technology Ltd (GVT). Find out how the 49-year-old intends to realise the Group's vision of building a home-grown brand in advanced manufacturing capabilities, serving the semiconductor, analytical life sciences, medical and industrial automation industries.
Read more at: https://bit.ly/3rGR3fZ
Learn more about investing and trading with curated series of Educational Videos at https://bit.ly/3dNupwV
[Partner's post] (Smartkarma Corporate Webinar): On 6 April, 5pm SGT, join us as iFAST (IFAST SP) Jean Paul Wong, Director of Corporate Communications and General Manager, FSMOne share a short company presentation and have a fireside chat with Smartkarma Insight Provider, Mio Kato, followed by a live Q&A session. Register here: https://bit.ly/3cEOl6f
Investors can now gain access into the China technology sector through a range of SGX listed products, including Daily Leveraged Certificates (DLC), Exchange Traded Funds (ETF) and Structured Warrants (SW).
Find out more about the different instruments that provide access to this sector and sign up for the webinar series, where product issuers and market analysts share on the key market opportunities and risks of investing into China technology sector. https://bit.ly/3sM7pFy
Find out more about the different instruments that provide access to this sector and sign up for the webinar series, where product issuers and market analysts share on the key market opportunities and risks of investing into China technology sector. https://bit.ly/3sM7pFy
[The Business Times: S-Reits seek out green and sustainability-linked loans]
Green loans are generally structured in the same way as standard loans except that proceeds from green loans are tracked and used for specific green projects which meet certain benchmarked criteria.
As many as 12 Singapore Reits and property trusts have secured new or refinanced their green and/or sustainability-linked loans since the start of 2020 to March 30, 2021.
Together, the 12 S-Reits obtained more than S$2 billion in loan amount, of which close to 54 per cent are in the form of green loans while the other 46 per cent are sustainability-linked loans.
Read more: https://bit.ly/3dxGg2t
🕹 Visit https://bit.ly/3ktBLbK to understand what you need to know about investing in REITs.
Green loans are generally structured in the same way as standard loans except that proceeds from green loans are tracked and used for specific green projects which meet certain benchmarked criteria.
As many as 12 Singapore Reits and property trusts have secured new or refinanced their green and/or sustainability-linked loans since the start of 2020 to March 30, 2021.
Together, the 12 S-Reits obtained more than S$2 billion in loan amount, of which close to 54 per cent are in the form of green loans while the other 46 per cent are sustainability-linked loans.
Read more: https://bit.ly/3dxGg2t
🕹 Visit https://bit.ly/3ktBLbK to understand what you need to know about investing in REITs.
🗞 My Gateway Newsletter highlights of the week:
Singapore-listed Real Estate Developers & Operators were among the strongest segments of Singapore's stock market ahead of the quarterly URA report. This saw the iEdge SG Real Estate Developers & Operators Index generate a 5.6% return from 18 March to the 1 April close, outpacing the STI's 1.6% total return over the 10 sessions.
Read more: https://bit.ly/31MgMZF
📨 Subscribe to My Gateway Newsletter https://bit.ly/31mhbCr to receive weekly curation of market news and events.
Singapore-listed Real Estate Developers & Operators were among the strongest segments of Singapore's stock market ahead of the quarterly URA report. This saw the iEdge SG Real Estate Developers & Operators Index generate a 5.6% return from 18 March to the 1 April close, outpacing the STI's 1.6% total return over the 10 sessions.
Read more: https://bit.ly/31MgMZF
📨 Subscribe to My Gateway Newsletter https://bit.ly/31mhbCr to receive weekly curation of market news and events.
SGX Research's 10 in 10 with Rex International (5WH|REXI SP)
🛢️⛽👷
Rex International Holding is an oil exploration and production (E&P) with interests in an oil production asset in Oman and 13 exploration licences in Norway. Since its IPO in July 2013, the Group has achieved four offshore discoveries - one in Oman and three in Norway.
Read on to find out what Rex has in store this FY2021 with its three production wells.
➡️ https://bit.ly/39OB1u6
🗂 Visit https://bit.ly/357jRG4 to find out more on how you can invest your SRS funds.
🛢️⛽👷
Rex International Holding is an oil exploration and production (E&P) with interests in an oil production asset in Oman and 13 exploration licences in Norway. Since its IPO in July 2013, the Group has achieved four offshore discoveries - one in Oman and three in Norway.
Read on to find out what Rex has in store this FY2021 with its three production wells.
➡️ https://bit.ly/39OB1u6
🗂 Visit https://bit.ly/357jRG4 to find out more on how you can invest your SRS funds.
26 Primary Listed Stocks Conducted Buybacks in March
💰 For 1Q21, there were 37 SGX primary-listed stocks that conducted buybacks over the quarter, with consideration totaling S$134 million. Over the quarter, the Straits Times Index (STI) gained 11.3%, and the buyback consideration represented 0.01 per cent of the S$943.8 billion in market capitalisation of all stocks listed on SGX as of 31 March.
Read full article: https://bit.ly/3mq2SGc
🎦 Learn more about investing and trading with curated series of Educational Videos at https://bit.ly/3dNupwV
💰 For 1Q21, there were 37 SGX primary-listed stocks that conducted buybacks over the quarter, with consideration totaling S$134 million. Over the quarter, the Straits Times Index (STI) gained 11.3%, and the buyback consideration represented 0.01 per cent of the S$943.8 billion in market capitalisation of all stocks listed on SGX as of 31 March.
Read full article: https://bit.ly/3mq2SGc
🎦 Learn more about investing and trading with curated series of Educational Videos at https://bit.ly/3dNupwV
Manufacturing Stocks Extend Gains in 1Q21
⚙️ Singapore's most traded manufacturing-related stocks have generated 15% median gains in 2021 YTD, compared to 56% median gains in 2020. Returns across the various manufacturers were more symmetric in 1Q20 compared to 2020, reflecting more confidence in the broad economy.
Read full article: https://bit.ly/3rYJsto
📍 Plug into SGX Stock Screener https://bit.ly/2H3kqrh to access the stocks fundamentals on all SGX-listed stocks.
⚙️ Singapore's most traded manufacturing-related stocks have generated 15% median gains in 2021 YTD, compared to 56% median gains in 2020. Returns across the various manufacturers were more symmetric in 1Q20 compared to 2020, reflecting more confidence in the broad economy.
Read full article: https://bit.ly/3rYJsto
📍 Plug into SGX Stock Screener https://bit.ly/2H3kqrh to access the stocks fundamentals on all SGX-listed stocks.
SGX Research's kopi-C: GHY Culture & Media: Captivating Audiences With Content
Recently, we spoke with Guo Jingyu, Executive Chairman, CEO and Founder of Mainboard-listed G.H.Y Culture & Media Holding Co Ltd, which focuses on production and promotion of dramas, films and concerts in the Asia-Pacific region. Read on to find out how the 49-year-old entertainment industry veteran intends to grow GHY through sustainable innovation and high-quality content development.
Read more at: https://bit.ly/2RoJ5f7
🗂 Visit https://bit.ly/3escX1j to understand the 5 financial metrics you need to know when evaluating stocks.
Recently, we spoke with Guo Jingyu, Executive Chairman, CEO and Founder of Mainboard-listed G.H.Y Culture & Media Holding Co Ltd, which focuses on production and promotion of dramas, films and concerts in the Asia-Pacific region. Read on to find out how the 49-year-old entertainment industry veteran intends to grow GHY through sustainable innovation and high-quality content development.
Read more at: https://bit.ly/2RoJ5f7
🗂 Visit https://bit.ly/3escX1j to understand the 5 financial metrics you need to know when evaluating stocks.
China Equities & Corporate Bond ETFs Join Most Traded ETFs in 1Q21
💵 The combined AUM of all 30 ETFs listed for trading in Singapore has grown 68% to S$8.99 billion in 1Q21, from S$5.34 billion in 1Q20. At $1.57 billion in 1Q21, combined turnover of the 30 ETFs decreased 12% YoY from S$1.78 billion in 1Q20 (amid significant market volatility) and increased by 34% QoQ from $1.17 billion in 4Q20.
Read full article: https://bit.ly/2RgFXBH
🕹 Select an ETF that suits your investment appetite with ETF Screener: https://bit.ly/30a2j8W
💵 The combined AUM of all 30 ETFs listed for trading in Singapore has grown 68% to S$8.99 billion in 1Q21, from S$5.34 billion in 1Q20. At $1.57 billion in 1Q21, combined turnover of the 30 ETFs decreased 12% YoY from S$1.78 billion in 1Q20 (amid significant market volatility) and increased by 34% QoQ from $1.17 billion in 4Q20.
Read full article: https://bit.ly/2RgFXBH
🕹 Select an ETF that suits your investment appetite with ETF Screener: https://bit.ly/30a2j8W
🎙️ Podcast: In ’Market View Wrap' for end of this week, Geoff Howie, SGX Market Strategist joins Claressa Monteiro and Finance Presenter JP Ong to provide a summary of the trading week with focus on STI second and third liners, home prices in Australia, inflation in China, vaccination rollout in Singapore as well as globally and many more.
Tune in now: https://bit.ly/3d2Klgj
Tune in now: https://bit.ly/3d2Klgj
[The Business Times: S-Reits under S$1b lead sector in Q1 2021]
▪️Eleven smaller cap Reits in the iEdge S-Reit Index with market capitalisation under S$1 billion have all generated positive returns in Q1 2021.
▪️The 11 Reits posted 14.0% total returns in the year-to-date (YTD) through to April 8, outperforming the index's 2.4% total returns.
▪️The top five best performing smaller cap Reits of the index in the YTD through to April 8 are: ARA Logos Logistics Trust (25.6%), Sabana Shari'ah Compliant Reit (23.9%), ARA US Hospitality Trust (22.2%), First Reit and Lippo Malls Indonesia Retail Trust (both 16.9%).
Read more: https://bit.ly/3a2B3yR
📚 Visit https://bit.ly/3ktBLbK to understand what you need to know about investing in REITs.
▪️Eleven smaller cap Reits in the iEdge S-Reit Index with market capitalisation under S$1 billion have all generated positive returns in Q1 2021.
▪️The 11 Reits posted 14.0% total returns in the year-to-date (YTD) through to April 8, outperforming the index's 2.4% total returns.
▪️The top five best performing smaller cap Reits of the index in the YTD through to April 8 are: ARA Logos Logistics Trust (25.6%), Sabana Shari'ah Compliant Reit (23.9%), ARA US Hospitality Trust (22.2%), First Reit and Lippo Malls Indonesia Retail Trust (both 16.9%).
Read more: https://bit.ly/3a2B3yR
📚 Visit https://bit.ly/3ktBLbK to understand what you need to know about investing in REITs.
[Partner's post] (Smartkarma Corporate Webinar): On 14 April, 5pm SGT, join us as we are delighted to welcome Insight Provider Kyle Rudden, to discuss the rising ecosystem of index providers and the SRI (sustainable and responsible investing) and ESG (Environmental, Social, and Governance) indices and benchmarks they create, enabling the current growth in sustainable investing.
Register here: https://bit.ly/3dWubEh
Register here: https://bit.ly/3dWubEh
🗞 My Gateway Newsletter highlights of the week:
Singapore's 21 most traded non-STI stocks in the 2021 YTD have traded S$220 million in turnover a day, 15% of the total turnover of all stocks and trusts listed on SGX. Key contributors to trading activity included stock capitalisation, previous earnings reports, and economic drivers, namely semiconductor demand and defensive COVID-19 traits.
Read more: https://bit.ly/3dekH84
📨 Subscribe to My Gateway Newsletter https://bit.ly/31mhbCr to receive weekly curation of market news and events.
Singapore's 21 most traded non-STI stocks in the 2021 YTD have traded S$220 million in turnover a day, 15% of the total turnover of all stocks and trusts listed on SGX. Key contributors to trading activity included stock capitalisation, previous earnings reports, and economic drivers, namely semiconductor demand and defensive COVID-19 traits.
Read more: https://bit.ly/3dekH84
📨 Subscribe to My Gateway Newsletter https://bit.ly/31mhbCr to receive weekly curation of market news and events.
📽️ SGX Facebook Live: Eurasia's 2021 Macro Outlook - Could Singapore be the region's hydrogen hub in the making?
Date/Time: 20 Apr (Tuesday), 10am.
Hydrogen is emerging as a key element of the clean energy transition. Clean hydrogen can be produced from renewable power (green hydrogen), or by capturing and storing greenhouse gas emissions from fossil fuel production like natural gas (blue hydrogen). Eurasia Group, a political risk consultancy, believes that Singapore has the potential to position itself as a key hydrogen trading hub of the Asia/Pacific region.
Join us as we hear from Eurasia Group's Director of Energy, Climate & Resources Henning Gloystein as he elaborates on Singapore's prospects in positioning itself at the heart of this major emerging industry.
Register your interest to receive notification when we go live! ➡️ https://bit.ly/3e45QfK
Do you have a question about the topic for the Speaker? Submit your question here: https://pigeonhole.at/FBLIVE20APR
Date/Time: 20 Apr (Tuesday), 10am.
Hydrogen is emerging as a key element of the clean energy transition. Clean hydrogen can be produced from renewable power (green hydrogen), or by capturing and storing greenhouse gas emissions from fossil fuel production like natural gas (blue hydrogen). Eurasia Group, a political risk consultancy, believes that Singapore has the potential to position itself as a key hydrogen trading hub of the Asia/Pacific region.
Join us as we hear from Eurasia Group's Director of Energy, Climate & Resources Henning Gloystein as he elaborates on Singapore's prospects in positioning itself at the heart of this major emerging industry.
Register your interest to receive notification when we go live! ➡️ https://bit.ly/3e45QfK
Do you have a question about the topic for the Speaker? Submit your question here: https://pigeonhole.at/FBLIVE20APR
Frasers L&C Trust Joins STI, Boosting the Benchmark's REIT Exposure to 15%
🏢 Effective 13 April 2021, Frasers Logistic & Commercial Trust has joined the STI with an indicative weight of 1.3%, taking the number of REITs within the STI to seven, with a combined Index weight of 15%. This makes REITs the third largest Sector by Index weight of the STI after Financials and Industrials.
Read full article: https://bit.ly/2QoKt0I
📚 Visit https://bit.ly/3ktBLbK to understand what you need to know about investing in REITs.
🏢 Effective 13 April 2021, Frasers Logistic & Commercial Trust has joined the STI with an indicative weight of 1.3%, taking the number of REITs within the STI to seven, with a combined Index weight of 15%. This makes REITs the third largest Sector by Index weight of the STI after Financials and Industrials.
Read full article: https://bit.ly/2QoKt0I
📚 Visit https://bit.ly/3ktBLbK to understand what you need to know about investing in REITs.
SGX Research - SREITs & Property Trusts Chartbook - April 2021
🏙️ SGX lists 43 REITs & Property Trusts with a combined market cap of S$110B. Average yield spread is at 340bps, with average dividend yield at 5.8%. SREITs are now trading at P/B of 1.01x.
Download chartbook at: https://bit.ly/3g7YLxB
Visit https://bit.ly/3ktBLbK to understand what you need to know about investing in REITs."
🏙️ SGX lists 43 REITs & Property Trusts with a combined market cap of S$110B. Average yield spread is at 340bps, with average dividend yield at 5.8%. SREITs are now trading at P/B of 1.01x.
Download chartbook at: https://bit.ly/3g7YLxB
Visit https://bit.ly/3ktBLbK to understand what you need to know about investing in REITs."
<Analyst Spotlight for 15 Apr 2021>
➡️ Company update on Jiutian Chemical Group Ltd (C8R): Riding the upturn (CGS-CIMB) https://bit.ly/2RASO1S
1. Driven by downstream demand, Jiutian's product Dimethylformamide (DMF) prices continue on uptrend YTD to Rmb11,000/ton (+40% YTD, +120% yoy)
2. CGS-CIMB expects 1Q21F to see record profits, with 28-fold increase yoy in core net profit
3. Maintain ADD with an unchanged TP of S$0.135 (5.7x FY22F P/E)
➡️ Company update on Frasers Centrepoint Trust (J69U): Leaner and keener to excel (DBS Research) https://bit.ly/3geNNGr
1. Portfolio of suburban malls remain operationally sound; leaner portfolio of dominant malls to drive outperformance to peers
2. DBS projects DPU in FY21 to be c.4% higher than pre-COVID-19 levels, ahead of peer growth rate
3. Maintain BUY and TP of S$3.00, implying a target yield of 4.2%
➡️ Company initiation on Hong Leong Asia (H22): There is more value in the break-up (CGS-CIMB) https://bit.ly/3wXZZ4f
1. CGS-CIMB forecasts 54% NPAT growth in FY21F for HLA, riding on strong diesel engine sales in CN and construction activity recovery in SG
2. Potential secondary listing of its diesel engine arm China Yuchai could be a key re-rating catalyst. CYD trades at 5.6x CY22F P/E, c.60% discount vs. peers
3. Initiate with ADD (SOP-based TP of S$1.18), valuing engine/building materials at 8/12x FY22F P/E respectively, supported by S$114m ex-CYD net cash
🗂 For more broker research reports: https://bit.ly/318TlLk
➡️ Company update on Jiutian Chemical Group Ltd (C8R): Riding the upturn (CGS-CIMB) https://bit.ly/2RASO1S
1. Driven by downstream demand, Jiutian's product Dimethylformamide (DMF) prices continue on uptrend YTD to Rmb11,000/ton (+40% YTD, +120% yoy)
2. CGS-CIMB expects 1Q21F to see record profits, with 28-fold increase yoy in core net profit
3. Maintain ADD with an unchanged TP of S$0.135 (5.7x FY22F P/E)
➡️ Company update on Frasers Centrepoint Trust (J69U): Leaner and keener to excel (DBS Research) https://bit.ly/3geNNGr
1. Portfolio of suburban malls remain operationally sound; leaner portfolio of dominant malls to drive outperformance to peers
2. DBS projects DPU in FY21 to be c.4% higher than pre-COVID-19 levels, ahead of peer growth rate
3. Maintain BUY and TP of S$3.00, implying a target yield of 4.2%
➡️ Company initiation on Hong Leong Asia (H22): There is more value in the break-up (CGS-CIMB) https://bit.ly/3wXZZ4f
1. CGS-CIMB forecasts 54% NPAT growth in FY21F for HLA, riding on strong diesel engine sales in CN and construction activity recovery in SG
2. Potential secondary listing of its diesel engine arm China Yuchai could be a key re-rating catalyst. CYD trades at 5.6x CY22F P/E, c.60% discount vs. peers
3. Initiate with ADD (SOP-based TP of S$1.18), valuing engine/building materials at 8/12x FY22F P/E respectively, supported by S$114m ex-CYD net cash
🗂 For more broker research reports: https://bit.ly/318TlLk
SGX Research's kopi-C: MC Payment Capitalises on Digital Commerce Boom
Recently, we spoke with Anthony Koh, Co-Founder and CEO of SGX-listed digital payments services firm MC Payment Ltd. Read on to find out how the 50-year-old plans to capitalise on the significant and expanding opportunities in the Asian digital payments market to grow the fintech company.
Read more at: https://bit.ly/3wYtO4F
🕹 Plug into SGX Stock Screener https://bit.ly/2H3kqrh to access the stocks fundamentals on all SGX-listed stocks.
Recently, we spoke with Anthony Koh, Co-Founder and CEO of SGX-listed digital payments services firm MC Payment Ltd. Read on to find out how the 50-year-old plans to capitalise on the significant and expanding opportunities in the Asian digital payments market to grow the fintech company.
Read more at: https://bit.ly/3wYtO4F
🕹 Plug into SGX Stock Screener https://bit.ly/2H3kqrh to access the stocks fundamentals on all SGX-listed stocks.