Singapore lists 5 property trusts exclusively investing in China – CapitaLand Retail China Trust, Sasseur REIT, Dasin Retail Trust, EC World REIT and BHG Retail REIT. The average P/B ratio for the 5 property trusts is now 0.64x, converging with 150 property stocks listed in Singapore, Hong Kong, Japan, Australia and Taiwan, that generate all their revenue in China.
As many as 20 of Singapore’s most actively traded 50 stocks were recipient to net institutional inflows for sessions spanning 9 to 10 March that saw the STI decline 4.3%, bringing its 2020 YTD decline to 11.9%.
The FTSE Value-Stocks ASEAN Index consists of 50 stocks subject to Contrarian, Quality and Valuation screenings. With a sharp 9% decline on Monday, the FTSE Value-Stocks ASEAN Index has declined 18% in the 2020 YTD, reducing its 3-year total return to a 3% decline. The first two sessions of this week saw the Index P/B ratio trade at 1.06x, a record low of since the Index launch in Nov 2013.
The 3 largest telecommunications service providers on SGX – Singtel, NetLink NBN Trust and StarHub – have a combined market cap of about S$55 billion. Over a 12M period, the 3 telcos have averaged a total return of 14.5%.
SGX lists 3 rubber glove plays – Top Glove Corp, Riverstone Holdings and UG Healthcare Corp – which have a combined market cap of more than S$5 billion. Global demand for rubber gloves is expected to increase as countries step up efforts to contain the spread of the COVID-19.
Over the last few years, Singapore’s three banks have been expanding their wealth management income, which now accounts for an increasing share of non-interest income. For FY19, the trio averaged 18% YoY growth in their wealth management income, ranging from 16% for DBS to 20% for OCBC.
In Feb 2020, 17 SGX primary-listed stocks bought back shares for a total consideration of S$68 million. DBS, Keppel Corp and Silverlake Axis led the share buyback consideration tally, with the average buyback prices at S$24.623, S$6.720 and S$0.338 respectively. Buybacks for DBS made up S$43 million of the S$68 million total consideration.
Since 2010, DBS, OCBC & UOB have increased their combined annual income that is segmented to Greater China by 175%. Combined Greater China income grew from S$2.33 billion in 2010, to S$6.42 billion in 2019.
Manulife US REIT, Prime US REIT and Keppel Pacific Oak US REIT – are focused on the US office market. For the quarter ended 31 Dec 2019, the three trusts averaged a DPU of 1.57 US cents. The trio averaged a net property income of US$24.2 million and a gross revenue of US$38.7 million.
For the year ended 31 Dec 2019, Singapore's 3 listed banks averaged a net profit of S$5.2 billion, up 10.1% YoY. Among the 3, DBS reported the highest FY19 net profit of S$6.4 billion, reflecting a 13.6% YoY increase. Over the 2019 calendar year, the 3 banks averaged a total return of 10.0%. The 2 best performers in 2019 were DBS and UOB, with total returns of 15.5% and 12.8% respectively.
These articles are provided by 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.
These articles are 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.