Singapore Exchange (SGX)

SGX kept at 'buy' by RHB as derivatives volume numbers remain strong
SINGAPORE (Apr 8): RHB Securities continues to rate Singapore Exchange (SGX) a “buy”, albeit with a lower target price of $8.10 from $8.20 previously. In 3Q19, SGX’s securities average daily value (SADV) declined 31% y-o-y to about $0.97 billion. In a Friday report, analyst Leng Seng Choons says, “We lowered our FY19 SADV to $1.04 billion from $1.07 billion, which is slightly above ...
Macro jitters propel S-REIT inflows to $240 mil in 1Q19
SINGAPORE (Apr 4): Singapore REITs (S-REITs) have a seen net institutional inflows of $82.7 million, $42.7 million and $114.2 million for the respective first three months of 2019, according to recent SGX data for 1Q19. This brings the sector’s inflows to $239.6 million for 1Q19, with S-REITs being the top net buy sector in Jan 2019. The five best-performing S-REITs in the year to date ...
Singapore authorities to continue investigation of key Midas personnel amid winding-up woes
SINGAPORE (April 2): Singapore’s authorities say they will continue their investigation into Midas Holdings’ former directors and officers in the event that the insolvent company winds up. This comes amid a year-long investigation into Midas Holdings as the company’s former directors and officers by the Commercial Affairs Department (CAD) and Monetary Authority of Singapore ...
SGX buys 20% stake in FX trading platform for US$25 mil
SINGAPORE (March 27): As part of its efforts to strengthen its multi-asset exchange strategy, the Singapore Exchange has acquired a 20% stake in BidFX for US$25 million ($33.8 miillion) in cash. BidFX is a cloud-based provider of electronic foreign exchange trading platform. It offers a cloud-based, front-end trading platform that supports FX spot, swaps and forwards for G10 and Asian ...
SGX target price cut by Phillip as derivatives revenue growth slows
SINGAPORE (Mar 20): Phillip Securities is cutting the target price of Singapore Exchange on lower FY19 forecast earnings as derivatives growth slows the most in almost two years. For the months of January and February, SGX saw derivatives daily average volume (DDAV) growth contract to 2.4% y-o-y and 1.4% y-o-y respectively compared to a 24.1% y-o-y jump in 2Q19 ended Dec 2018. The ...
Lendlease reportedly gunning for US$500 mil with intended retail REIT listing on SGX
SINGAPORE (Mar 19): Australia-listed developer Lendlease Group is planning to list a real estate investment trust (REIT) of its retail assets on the Singapore Exchange, according to sources of Thomson Reuters’ IFR Asia. Citing people with knowledge of the transaction, the online article published today said the group is planning to raise up to US$500 million, or $675.3 million, from the ...
Revamp of DBS Vickers a sign of things to come; can brokerages, remisiers maintain their relevance?
SINGAPORE (Mar 15): During a recent trip to Kuala Lumpur, I ran into an old friend whom I knew from my days in the brokerage business back in the 1990s. To my surprise, he told me that he still worked in the industry and appeared to be making a good living at it. After two financial crises and a collapse in brokerage commissions, just about everyone I know from this business has moved on. Many ...
Asia gets tougher on auditors after high-profile defaults
(Mar 14): Regulators in some Asian countries are getting tougher on auditors after landmark defaults, in an increasingly high-stakes game as investors call for earlier warning signs amid expectations for debt failures to mount. High-profile collapses of commodities trader Noble Group and India’s shadow lender Infrastructure Leasing & Financial Services have rocked investors over the past ...
Singapore expected to be among top 10 listing destinations in 2030: PwC
SINGAPORE (Mar 13): Apart from their own exchanges, more issuers would consider listing on the Singapore Exchange (SGX) in 2030 on the back of increasing focus on the Southeast Asian market, according to a new PwC report, Capital Markets in 2030. In a survey of nearly 400 executives at companies from across the globe, the report found that 15% of issuers would consider listing on SGX in 2030 ...
SGX faces threat from HKEX China share move
(Mar 12): Moves by Hong Kong’s stock exchange to start trading derivatives contracts based on Chinese-listed shares pose a new competitive threat to rival Singapore Exchange. Hong Kong Exchanges & Clearing announced on Monday it signed an agreement with index provider MSCI to start trading Chinese equity futures, laying the groundwork for another avenue through which global investors can ...