Singapore Exchange (SGX)

Markets

SGX Group proposes cap refinement on clearing member liability for multiple defaults

The proposal is subject to market feedback and a public consultation that is open till April 24.

Environmental, Social and Governance

SGX RegCo launches consultation on incorporating ISSB standards into sustainability reporting rules

The consultation is open till April 5 and the consultation paper is available on SGX RegCo’s website.

Restructuring

SGX RegCo suggests ways to quicken restructuring process for financially distressed companies

This may help already distressed companies lessen their financial burden, and attract “white knight” rescues with fresh funds.

Company in the news

SGX prices $300 mil notes due 2027

The notes will carry a coupon rate of 3.45% per annum, payable semi-annually in arrears.

Broker's Calls

SGX 'leaning on' FX, commodities as equities business stays 'unexciting': analysts

“Despite robust growth from the FICC segment, we reckon that there are no near-term catalysts to justify a higher valuation.”
Following SGX's 1HFY2024 results, Citi urges 'sell', Maybank and OCBC maintain 'hold' - THE EDGE SINGAPORE

Broker's Calls

Following SGX's 1HFY2024 results, Citi urges 'sell', Maybank and OCBC maintain 'hold'

With 3.8% yield versus 5.7% for the STI, the value proposition as a growth stock versus a yield stock is “unclear at this time”.
SGX enjoys FX, iron ore derivatives boost in 1HFY2024; insists spac rules 'work' - THE EDGE SINGAPORE

Results

SGX enjoys FX, iron ore derivatives boost in 1HFY2024; insists spac rules 'work'

“For a good de-spac, you also need a conducive IPO environment. Clearly, that hasn’t really been there in the last two years.”
Two remaining SGX-listed spac firms to dissolve, ending further despac hopes (update) - THE EDGE SINGAPORE

SPACs

Pegasus Asia to dissolve its spac. Will Novo Tellus follow suit? (update)

Should the spacs be dissolved, investors’ funds will be returned.

Broker's Calls

RHB stays 'neutral' on SGX as 'the disappointment continues'

RHB notes increased trading activity on the Singapore Exchange in November, but securities data still remains below estimates.

Broker's Calls

RHB keeps SGX's TP unchanged despite its securities turnover, daily average value running 'well below estimates'

Despite factoring in a mid-single digit percentage growth in dividends, SGX’s yield is well below the market yield of 5.6%.
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