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SGX My Gateway Market Updates

3 Best-Performing SGX Office REITs Averaged 7% Total Return in 2H18-To-Date

05 December 2018

In the 2H18 to-date (29 June-3 Dec 2018), the three best-performing REITs with office assets were Keppel REIT (+9.0%), CapitaLand Commercial Trust (+6.5%), and Suntec REIT (+5.7%). The trio averaged a total return of +7.1% over the period, bringing their YTD, 3Y and 5Y total returns to -6.6%, +45.0% and +48.8% respectively. Analysts have noted revived investor interest in Singapore REITs, driven by a flight to safety amidst rising risk-aversion. In November 2018, the REITs sector saw net inflow of S$28.1 million by institutional investors, reversing three consecutive months of net outflows.

Jardine Stocks Advanced 9% in November 2018

SGX My Gateway

04 December 2018

SGX lists Jardine Matheson Holdings and Jardine Strategic Holdings, in addition to four companies held by Jardine Strategic Holdings - Hongkong Land, Dairy Farm International, Mandarin Oriental and Jardine Cycle & Carriage. The six stocks averaged 9% gains in the month of November 2018. The November gains, brought the average total return of the six stocks to 5% in the 2018 YTD with 10 year average annualised returns of 14%, ranging from 10% for Dairy Farm International to 18% for Jardine Cycle & Carriage.

SG Banks Bought Back S$88 Million in Shares in November 2018

SGX My Gateway

03 December 2018

In November, 29 SGX-listed stocks repurchased 40 million shares for a total consideration of S$109 million. This was up from S$60 million in buyback consideration in October, and S$39 million in November 2017. The three banks - DBS, OCBC and UOB made up four-fifths or S$88 million of the S$109 million in total buyback consideration for November. Last week marked 50 years since the largest capitalised of the three, DBS, was quoted for trading on the stock market.

Mapletree REITs Amongst the Most Defensive Stocks in 2018

SGX My Gateway

26 November 2018

3 of the Mapletree REITs are in the STI Reserve List - used to advance stocks into the STI should an STI constituent be deleted ahead of the next quarterly review. For 1HFY18/19 (ending 30 Sep), the four Mapletree REITs all reported YoY growth in Gross Revenue & DPU. In 2018 YTD, the four Mapletree REITs averaged a 1% decline in total return, following 33% average total returns in 2017. By comparison the FTSE EPRA/NAREIT Asia Pacific ex-Japan Index declined 3% & the iEdge S-REIT Index declined 4% in the 2018 YTD.

SGX’s 10 Largest Developers Average 6% Rebound From 12-Month Troughs

SGX My Gateway

15 November 2018

The iEdge SG Real Estate Developers & Operators Index is a free-float, market capitalisation-weighted index that measures the performance of listed real estate developers and operators in Singapore. The Index's 10 largest constituents, with a combined market capitalisation of S$56 billion, have averaged a 6% price rebound from their 12M troughs. In particular, Ho Bee Land, City Developments and Yanlord Land each have registered price gains of 9% from their 52-week lows.

Highlights of Singapore’s Billionaire Stocks

SGX My Gateway

13 November 2018

Singapore Exchange lists close to 100 stocks with a market cap above S$1 billion. In the 2018 YTD, the 10 best-performing billionaire stocks were: Sri Trang (48.2%), Best World (44.0%), Top Glove (42.9%), Japfa (41.7%), M1 (26.7%), Keppel T&T (21.2%), Sheng Siong (18.4%), Dairy Farm (17.4%), ComfortDelGro (15.3%), and Haw Par (14.8%). In the 2018 YTD, the 10 least-performing billionaire stocks were: Oxley Holdings (-40.9%), Thomson Medical Group (-38.8%), CITIC Envirotech (-37.8%), Shangri-La Asia (-34.9%), Sinarmas Land (-34.8%), Hutchison Port Holdings Trust (-32.6%), Golden Agri-Resources (-32.2%), City Developments (-31.2%), Fraser and Neave (-29.7%), and StarHub Ltd (-27.8%).

5 Best-Performing S-REITs Average 6% Total Return in July-Oct 2018

SGX My Gateway

05 November 2018

The iEdge S-REIT Index is a free-float, market capitalisation-weighted index that tracks the performance of listed REITs in Singapore. In July-October 2018, the 10 best-performing constituents of the Index were: Ascendas India Trust (+6.9%), Starhill (+5.5%), Mapletree Commercial (+5.4%), Keppel REIT (+5.2%), Suntec REIT (+5.2%), CapitaLand Commercial (+4.7%), Frasers Hospitality (+4.4%), CapitaLand Mall (+3.3%), Frasers Commercial (+2.7%) and SPH REIT (+2.3%).

SGX October 2018 Buybacks at S$60M, 7 Stocks Begin New Mandates

SGX My Gateway

01 November 2018

In October, 29 SGX-listed stocks repurchased 31 million shares for a total consideration of S$60 million. This brought the total buyback consideration over the first 10 months of 2018 to SS$1.34 billion, which is more than three times the total buyback consideration in 2017. The 29 stocks included 6 STI constituents - DBS, CDL, SATS, SPH, SGX & Sembcorp Industries and STI Reserve stock Keppel REIT. 7 stocks commenced new buyback mandates in October - Advancer Global, Avarga, Global Palm Resources Holdings, GP Industries, Jumbo Group, Singapore Exchange and The Straits Trading Company.

9 SGX Listed Trusts Raised S$2.7 Billion via Rights Issues in Last 18 Months

SGX My Gateway

30 October 2018

Between January 2017 and June 2018, 8 REITs and 1 stapled trust have raised a total of S$2.7 billion in funds through rights issues, mostly to finance new property investments. They are: Frasers Logistics, Manulife REIT, ESR-REIT, CCT, Mapletree Logistics, Cache, CDL, Ascott Residence, and Sabana REIT. In 3Q18, these 9 trusts have registered a total return of +1.9%. This brings their 12M and 3Y total returns to -3.8% and +15.0% respectively. They have also averaged an aggregate leverage ratio of 35.6%, a dividend indicated yield of 6.9% and a price-to-book ratio of 0.9.

2018 September Quarter S-REITs Earnings Schedule

SGX My Gateway

18 October 2018

The latest quarterly reporting season for Singapore REITs and Business Trusts began last week, with SPH REIT releasing its results for the year ended 31 Aug 2018. This was followed by Keppel REIT, Keppel DC REIT, and First REIT, which unveiled their 3Q earnings earlier this week. The iEdge S-REIT Index has 36 constituents, comprising 28 REITs, six stapled trusts and two property trusts. With a combined market capitalisation of nearly S$80 billion, they have averaged a total return of -5.7% in the 2018 YTD, bringing their 12-month and three-year total returns to -2.5% and 24.5% respectively.

These articles are provided by SGX My Gateway.

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