SGX Market Updates

5 Best Performers of SGX MOE Index Average 7% YTD Gain


PUBLISHED ON |

19 March 2019

  • The iEdge SG MOE Index is a free-float, market capitalisation-weighted index that measures the performance of listed maritime and offshore (MOE) companies in Singapore. The Index comprises 12 constituents, with a combined market cap of about S$30 billion.

  • In the YTD, the 5 best-performing Index constituents were: Yangzijiang Shipbuilding (+14.4%), Marco Polo Marine (+5.3%), Sembcorp Marine (+5.2%), COSCO Shipping (+4.5%), and Keppel Corp (+3.7%). They have averaged a total return of +6.6% over the period.

  • The five Index constituents that posted the strongest price rebound from their 52W lows were: Yangzijiang Shipbuilding (70.2%), Vallianz (26.7%), Mermaid Maritime (12.5%), COSCO Shipping (9.7%), and Sembcorp Marine (8.7%). They have averaged a 25.6% rebound from their respective 12M troughs, in line with the YTD rebound in oil prices.




The iEdge SG MOE Index is a free-float, market capitalisation-weighted index that measures the performance of listed maritime and offshore (MOE) companies in Singapore. Constituents in the Index include shipyard operators, shipping companies as well as those providing port and offshore services. The Index comprises 12 constituents with a combined market capitalisation of about S$30 billion.

The components with the 5 biggest weights – Yangzijiang Shipbuilding (15.21%), Sembcorp Marine (11.04%), Hutchison Port Holdings Trust (10.73%), Keppel Corp (10.59%), and COSCO Shipping International (10.55%) – account for more than half the Index’s weighting.

Singapore’s offshore and marine industry has been battered by a slump in oil prices over the past few years, cutbacks in exploration and production (E&P) spending, weak charter rates and delayed projects. This has forced a number of players to cut costs and restructure debt.

However, since the start of 2019, WTI crude has gained nearly 30%, and is set for its strongest advance since 2009. The Organization of Petroleum Exporting Countries (OPEC) and its partners – known as OPEC+ – have reduced output, while US sanctions on Iran and Venezuela have tightened supplies. Over the weekend, OPEC+ met in Azerbaijan to monitor their crude supply reduction pact, and said they would exceed commitments in the coming months. On Sunday, Saudi Arabia signalled that producers may need to extend their 1.2 million barrels per day of supply curbs past June into the second half of the year.

WTI Crude Oil Price

In the 2019 year-to-date, the five, best-performing Index constituents were: Yangzijiang Shipbuilding (+14.4%), Marco Polo Marine (+5.3%), Sembcorp Marine (+5.2%), COSCO Shipping International (+4.5%), and Keppel Corp (+3.7%). They averaged a total return of +6.6% in the YTD, bringing their one-year and three-year total returns to -22.5% and -4.4%.

The table details the 12 constituents of the iEdge SG MOE Index, sorted by YTD total return.

Name SGX
Code
Total
Return
YTD
(%)
Total
Return
1Y
(%)
Total
Return
3Y
(%)
P/E
(x)
P/B
(x)
YANGZIJIANG SHIPBUILDING BS6 14.4 14.7 59.9 7.4 1.0
MARCO POLO MARINE 5LY 5.3 -52.4 -89.6 0.4 0.6
SEMBCORP MARINE S51 5.2 -22.9 0.3 NA 1.5
COSCO SHIPPING INTL F83 4.5 -33.7 -9.2 59.5 1.5
KEPPEL CORP  BN4 3.7 -18.2 16.7 12.1 1.0
HUTCHISON PORT HOLDINGS TRUST NS8U 1.6 -20.8 -40.6 NA 0.6
SEMBCORP INDUSTRIES U96 -0.8 -17.1 -9.8 15.2 0.7
MERMAID MARITIME DU4 -1.1 -44.5 -16.5 NA 0.3
EZION HOLDINGS 5ME -6.5 -78.2 -92.1 NA -0.4
AUSGROUP LTD 5GJ -12.5 -46.7 -76.0 6.1 0.9
NORDIC GROUP MR7 -21.3 -43.9 88.5 10.7 1.5
VALLIANZ HOLDING WPC -36.0 -50.8 -86.2 7.5 0.3

Source: Bloomberg & StockFacts (data as of 15 March 2019)



The 5 Index constituents that posted the strongest price recovery from their 52-week lows were: Yangzijiang Shipbuilding (70.2%), Vallianz Holdings (26.7%), Mermaid Maritime (12.5%), COSCO Shipping (9.7%), and Sembcorp Marine (8.7%). These five stocks have averaged a 25.6% rebound from their respective 12-month troughs.

The table details the 12 constituents of the iEdge SG MOE Index, sorted by percentage price gain from 52-week lows.

Name SGX
Code
Index
Weight
(%)
Market
Cap
S$m
Last
Price
(S$)
52W Low
Price
(S$)
52W Low
Date
% Chg
vs
52W Low
YANGZIJIANG SHIPBUILDING BS6 15.21 5,721 1.43 0.84 07/18/2018 70.2
VALLIANZ HOLDINGS WPC 2.88 109 0.19 0.15 10/29/2018 26.7
MERMAID MARITIME DU4 6.75 120 0.09 0.08 03/11/2019 12.5
COSCO SHIPPING INTL F83 10.55 773 0.34 0.31 12/26/2018 9.7
SEMBCORP MARINE S51 11.04 3,363 1.62 1.49 12/26/2018 8.7
KEPPEL CORP  BN4 10.59 11,074 6.13 5.67 12/26/2018 8.1
HUTCHISON PORT HOLDINGS TRUST NS8U 10.73 2,835 0.32 0.30 03/01/2019 6.7
SEMBCORP INDUSTRIES U96 10.52 4,550 2.52 2.43 12/26/2018 3.7
EZION HOLDINGS 5ME 6.57 160 0.04 0.04 11/22/2018 0.0
NORDIC GROUP MR7 4.66 124 0.31 0.31 03/12/2019 0.0
AUSGROUP LTD 5GJ 5.22 88 0.03 0.03 03/08/2019 0.0
MARCO POLO MARINE 5LY 5.29 70 0.02 0.02 12/26/2018 0.0

Source: Bloomberg & StockFacts (data as of 15 March 2019)







This article is provided by SGX My Gateway.



SGX My Gateway

SGX's investor education portal with market, product and investment information and events. Sign up now at sgx.com/mygateway to receive our investment updates and economic calendar.

This document is not intended for distribution to, or for use by or to be acted on by any person or entity located in any jurisdiction where such distribution, use or action would be contrary to applicable laws or regulations or would subject Singapore Exchange Limited (“SGX”) to any registration or licensing requirement. This document is not an offer or solicitation to buy or sell, nor financial advice or recommendation for any investment product. This document is for general circulation only. It does not address the specific investment objectives, financial situation or particular needs of any person. Advice should be sought from a financial adviser regarding the suitability of any investment product before investing or adopting any investment strategies. Use of and/or reliance on this document is entirely at the reader’s own risk. Further information on this investment product may be obtained from www.sgx.com. Investment products are subject to significant investment risks, including the possible loss of the principal amount invested. Past performance of investment products is not indicative of their future performance. Examples provided are for illustrative purposes only. While each of SGX and its affiliates (collectively, the SGX Group Companies) have taken reasonable care to ensure the accuracy and completeness of the information provided, each of the SGX Group Companies disclaims any and all guarantees, representations and warranties, expressed or implied, in relation to this document and shall not be responsible or liable (whether under contract, tort (including negligence) or otherwise) for any loss or damage of any kind (whether direct, indirect or consequential losses or other economic loss of any kind, including without limitation loss of profit, loss of reputation and loss of opportunity) suffered or incurred by any person due to any omission, error, inaccuracy, incompleteness, or otherwise, any reliance on such information, or arising from and/or in connection with this document. The information in this document may have been obtained via third party sources and which have not been independently verified by any SGX Group Company. No SGX Group Company endorses or shall be liable for the content of information provided by third parties. The SGX Group Companies may deal in investment products in the usual course of their business, and may be on the opposite side of any trades. SGX is an exempt financial adviser under the Financial Advisers Act (Cap. 110) of Singapore. The information in this document is subject to change without notice. This document shall not be reproduced, republished, uploaded, linked, posted, transmitted, adapted, copied, translated, modified, edited or otherwise displayed or distributed in any manner without SGX’s prior written consent.












Stock / REIT Search

Advertisement

Advertisement