DBS, OCBC & UOB averaged 4.2% total returns in August, outpacing 1.6% flat median returns of the top quartile of global banking stocks by market value. DBS and OCBC remain amongst the top ten constituents of the FTSE Developed Asia Pacific ex-Japan Sustainable Yield Index.
SGX lists 3 rubber glove plays – Top Glove Corp, Riverstone Holdings and UG Healthcare Corp. Due to the exponential increase in glove demand, the three rubber glove makers reported stellar results for their respective financial periods, with earnings surging as much as five-fold.
Healthcare service providers listed on SGX operate patient care services and facilities, both locally and worldwide. Two of three largest healthcare services providers – IHH Healthcare Bhd and Thomson Medical Group were also among the 30 stocks that saw the highest net institutional inflows in the 2020 YTD.
Singapore’s 30 actively traded stocks that were recipient to the highest net institutional inflows over the first eight months of 2020, included nine STI stocks, in addition to multiple healthcare, technology and real estate plays. More than one-third of the 30 stocks maintain a market capitalisation of less than S$1 billion including Medtecs Intl, Accordia Golf Trust, GL, Hong Fok, UMS, Sabana REIT, Q&M Dental, Jumbo Group, Sing Holdings, Synagie and Kitchen Culture.
In August, 18 SGX primary-listed stocks bought back shares for a total consideration of S$15 million, higher than the S$3 million in consideration for July 2020, and seasonally lower than the S$70 million buyback consideration reported in August 2019. STI constituents ST Engineering and Keppel Corporation led the buyback consideration in August. As many as 11 companies commenced new mandates, which included Keppel Corporation, AEM Holdings, First Resources and Straco Corporation
Sabana REIT saw the S-REITs’ highest proportionate net institutional inflows since 9 June. As the Manger reiterated on 28 Aug, the proposed ESR REIT merger offers opportunities for re-rating and for reducing the NAV discount in the long term as part of a larger, more liquid and scalable REIT, backed by a developer-sponsor.
5 of Singapore’s 10 stocks with the highest positive quality factor exposure (with high ROE and low Debt-to-Equity) represent the Technology Sector and include AEM, Valuetronics, Silverlake Axis, Venture Corp and UMS.
SGX’s three gold mining plays – CNMC Goldmine, Wilton Resources and Anchor Resources – are in different stages of the gold exploration, development and production cycle. The 1H2020 performances of the trio were impacted by COVID-19 lockdowns and travel restrictions, which curtailed operations. CNMC Goldmine swung to a 1H2020 net loss from a year-earlier net profit, but both Wilton Resources and Anchor Resources narrowed their net losses in 1H2020 y-o-y.
Of the REITs listed on SGX, the 3 REITs with 100% of their assets located in Europe are Cromwell European REIT, IREIT Global and Elite Commercial REIT, with the trio focused on commercial and/or industrial property segments. For 1H2020, Cromwell European REIT reported a DPU of EUR1.74 cents, down 14.7% y-o-y, while IREIT Global reported a DPU after retention of EUR1.82 cents, down 1.1% y-o-y. Elite Commercial REIT unveiled a DPU of GBP1.95 pence, up 1.0% from its IPO forecast for the period from 6 Feb 2020 (IPO date ) to 30 June 2020.
Since the STI high on 9 June, iEdge SG All Healthcare Index has generated a 34% total return. Constituents that saw a significant pick up in trading activity over those nine weeks included the Vicplas International, QT Vascular, Hyphens Pharma International, Top Glove Corp Bhd and UG Healthcare.
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