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.
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.
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