Of the REITs listed on SGX, the 3 largest REITs with 100% US assets are Manulife US REIT, Prime US REIT and Keppel Pacific Oak US REIT, with all three focused on the office market. For 1H2020, these three US-focused REITs averaged a DPU of 3.22 US cents, up an average 2.9% y-o-y, and a net property income of US$50.5 million, up 14% y-o-y.
Together, Koufu Group, Jumbo Group & Kimly have been Singapore’s most traded Restaurant & Catering stocks in the 2020 year to 12 August, contributing 90% of the turnover of the entire Sector. The trio maintain similar market capitalisations with average capitalisation of S$288 million. The trio have performed comparatively defensively in the 2020 year to 12 August. The trio have maintained a highly defensive performance since the STI formed its recent high of 2839 on 9 June.
In July, 13 SGX primary-listed stocks bought back shares for a total consideration of S$3 million. The S$3 million in buyback consideration represented a modern monthly low since SGX Market Updates began reporting buyback considerations in October 2014. STI constituent ST Engineering led the buyback consideration in July, while four companies commenced new updates - Spackman Entertainment Group, Zhongmin Baihui Retail Group, LY Corporation and Choo Chiang Holdings.
Since 2014, the STI has seen as many as 5 new companies and 5 REITs join the Index, attributed to increased STI liquidity requirements and comparatively strong performances of the global REIT Sector. Another 2 stocks, Jardine Matheson & Jardine Strategic re-joined the STI in 2016 and 2017. Together the 10 new entrants have averaged 8.8% annualised 5-year total returns (median 9.9%) through to the end of July 2020.
SGX’s three largest Mapletree REITs by market cap are Mapletree Logistics Trust, Mapletree Industrial Trust and Mapletree Commercial Trust. For the quarter, Mapletree Logistics Trust and Mapletree Industrial Trust reported a DPU of 2.045 Singapore cents and 2.87 Singapore cents, up 1.0% and down 7.4% y-o-y respectively. Mapletree Commercial Trust, which provided a business update, did not report a DPU.
4 of Singapore’s 5 most traded energy stocks have outperformed global peers over the past 12-month of swinging oil prices. The 5 Singapore stocks - Rex International, Interra Resources, Mermaid Maritime PCL, AusGroup and China Aviation Oil generated a median decline of 1% over the 12-month. Both Exploration & Production stocks, Rex International and Interra Resources, generated respective gains of 178% and 70%.
SPH REIT kicked off the current financial reporting season for Singapore REITs on 1 July 2020 with the release of its fiscal 3Q ended 31 May 2020 business update. A total of 19 S-REITs have confirmed that they will unveil results for the half year ended 30 June 2020 between 16 July and 29 July.
SATS kicked off the current financial reporting season for STI constituents on 9 July 2020. Mapletree Logistics Trust, Mapletree Industrial Trust, CapitaLand Mall Trust, Ascendas REIT and CapitaLand Commercial Trust – will unveil their earnings over the next week.
Singapore’s 5 most traded stocks that either provide semiconductor services or manufacture semiconductors are AEM, UMS, ASTI Holdings, Avi-Tech Electronics and Micro-Mechanics. The 5 stocks have also suited shorter term momentum traders in the 2020 year to date, with average declines of 36% in the declines to 23 March, followed by average gains of 73% between 23 March and 8 July.
Median returns indicate that regional Utility stocks have been less volatile and better performing than Energy stocks in the 2020 YTD. Catalist-listed Union Gas has led the performance of Singapore’s largest Utility plays in the 2020 YTD with a 20% total return. The demerger of Singapore’s largest Utility play, Sembcorp Industries, from Sembcorp Marine (announced 8 June) aims to strengthen both firms’ financial positions, enabling each entity to better focus on its respective industry and pursue a sustainable growth path.
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