The 5 non-REIT constituents of the FTSE ST Small Cap Index with the highest dividend indicated yields are: UMS (7.4%), Valuetronics (7.1%), QAF (6.8%), Duty Free Intl (6.7%) and Chip Eng Seng (6.4%). They average a 12M indicated yield of 6.9%, vs the STI’s yield of about 4%, and SGS 5Y and 10Y yields of around 1.6%.
The FTSE ST Small Cap Index is a free float-adjusted, market cap-weighted index, representing the performance of small-cap companies that pass size, free float and liquidity screens and trade on SGX Mainboard. In the YTD, the 5 best-performing, non-REIT constituents of the Index were: Indofood Agri Resources (+71.7%), Hi-P (+33.8%), QAF (+33.8%), Hong Leong Asia (+23.5%) and Koufu Group (+19.7%).
Of the 36 REITs on SGX, 6 report more than half their total revenues to China or Greater China, and have a combined market cap of over S$8 billion. In 9M2019, the 3 best-performing REITs that report more than half their total revenues to China/Greater China were: Sasseur REIT (+33.6%), CapitaLand Retail China Trust (+21.3%) and Mapletree North Asia Commercial Trust (+21.1%).
For the month of September 2019, 23 primary-listed SGX stocks repurchased more than 30 million shares with a total consideration of S$15 million. September buyback consideration was led by Yangzijiang Shipbuilding, Stamford Land Corporation, Singapore Press Holdings, ST Engineering and Global Investments.
Keppel DC REIT, Mapletree Industrial Trust and Wing Tai Holdings maintain varied levels of exposure to the Data Centre ("DC") market, with all three stocks announcing acquisitions to expand their DC assets last week. Keppel DC REIT's private placement for the acquisition of two DCs in Singapore was fully covered within the first hour of bookbuilding, at the top end of the pricing range, and ended up being 9.3 times covered.
Temasek’s investment portfolio had a net value of S$313 billion as at 31 March 2019. The portfolio includes at least 25 listings on SGX, comprising 15 companies and 10 trusts with a combined market cap of more than S$260 billion. In the last 3 years, the 3 best-performing SGX-listed stocks in Temasek’s portfolio were DBS (+88.5%), ST Engineering (+33.6%) and Keppel Corp (+27.9%). The 3 best-performing SGX-listed trusts were Mapletree Logistics Trust (+84.2%), Mapletree Industrial Trust (+71.9%) and Mapletree Commercial Trust (+70.8%).
The new unified CapitaLand Group consisting of CapitaLand and Ascendas-Singbridge have eight stocks listed on SGX with a combined market cap of more than S$50 billion that contribute more than 10% of the day-to-day stock market turnover.
In March this year, SGX-listed Frasers Logistics & Industrial Trust (FLT) was included in the FTSE EPRA Nareit Global Developed Index. From next Monday, two more Singapore REITs – Frasers Centrepoint Trust and Keppel DC REIT – will join the Index, bringing the total list of Singapore constituents to 15.
The 10 largest stocks by market cap that added to their 1H19 gains in the quarter-to-date are all STI or STI Reserve List stocks – they were Wilmar, Thai Beverage, CapitaLand, CapitaLand Mall Trust, Ascendas REIT, SGX, City Developments, CapitaLand Commercial Trust, Mapletree Commercial Trust & Suntec REIT.
Singapore REITs was the top net buy sector in August, garnering total institutional flows of S$124.6 million. In 8M2019, the sector drew net institutional inflows of S$311.7 million. The top institutional net buy REITs in August were: Mapletree Commercial Trust, CapitaLand Commercial Trust, Ascendas REIT and CapitaLand Mall Trust.
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