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SGX
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PhillipTan
Supreme |
15-Feb-2022 21:01
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SGX offers more daily leverage certificates with UBS as new issuerSingapore Exchange (SGX) has, on Feb 15, welcomed UBS as its new daily leverage certificates (DLC) issuer.The DLCs will commence trading on the same day. They comprise 10 long and short DLCs that offer a fixed leverage of up to seven times the daily performance of Tencent, Alibaba, Meituan, BYD and the Hang Seng Index. All five underlying stocks and indices are among the top 10 most traded DLCs on SGX in 2021, says the exchange. The exchange was the first venue in Asia to offer DLCs, having launched the offering in July 2017. " We are delighted to have UBS come onboard as an issuer of DLCs. Investors have come to recognise the benefits of using DLCs to capitalise on short-term price movements and market trends. As interest in listed structured products grows in Asia, we will continue to work with issuers to offer investors a wider suite of investment options," says Michael Syn, head of equities at SGX. " With DLCs linked to regional indices gaining popularity, we are also seeing interest from issuers to launch DLCs with US indices as the underlying," he adds. " We are pleased to be one of the key issuers of DLCs in Singapore, the first market in Asia to offer trading in the instruments. This is another important milestone for our retail structured product business in Asia, following the launch of our warrant business in 2008. The ability to issue DLCs in Singapore will allow us to offer even more structured product choices to investors, and better match their needs," says Vassili Reperant, head of public distribution APAC at UBS. " The debut of UBS DLCs on the SGX allows us to offer even more structured product choices to investors and better match their needs," says Winni Cheuk, Head of Sales, Public Distribution for APAC at UBS. " We spotted quite a lot of volatility in the underlying Hong Kong stock names recently, and believe now is a good time to launch DLCs. This market environment allows investors who hold either a bullish or bearish view to gain more exposure with less required capital and a fixed daily leverage," adds Winni. |
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john_ric
Supreme |
15-Feb-2022 15:05
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drop after xd. seems stabilise now. |
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john_ric
Supreme |
09-Feb-2022 13:22
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look like any pull back is a chance to buy. layan taleh taleh. up & up. |
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PhillipTan
Supreme |
08-Feb-2022 22:40
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Singapore bets on niche SPAC listings to capture tech boomAfter years of struggling to emerge from the shadows of regional rivals, Singapore Exchange is looking to establish itself as the hub for blank-cheque firms, riding on regulatory overhaul, support by state firms, and a tech boom in its back yard.Encouraged by the flurry of Southeast Asian tech start-ups seeking funding and the bourse' s revised rules, Singapore could list up to a dozen special-purpose acquisition companies (SPACs) within the next 12-18 months, bankers, venture capitalists, and analysts say. A key test for SGX will come when such companies, also known as blank-cheque or shell firms, have to seal merger targets within two years, a " de-SPACing" process already weighing on US deals as hundreds of SPACs chase targets. Analysts say Singapore faces a challenge to get its traditionally risk-averse investors interested in a new asset class, especially after SGX has met with limited success in its previous attempts to shore up its equity market. In contrast, large international institutions have turned to Hong Kong for blockbuster equity listings over the past decade. While a craze in SPACs has fizzled out in the United States since early 2021 amid regulatory scrutiny and poor returns, SGX hosted three SPACs last month in their first major debut in Asia. The attraction is that they are simpler and typically more rewarding for startups than an IPO. " Looking at the response for the first SPACs, the pipeline is very strong," said Eng-Kwok Seat Moey, capital markets head at DBS, joint issue manager on two SPAC IPOs with Credit Suisse. Singapore SPACs are likely to chase targets in fintech, tech and consumer sectors, bankers say. Valuations of targets could range between S$800 million to up to S$2 billion, with dealmaking likely as early as this year. " The size of the opportunity, of younger companies scaling up and going for listings, is several times what it was many years ago and over the next decade it' ll be multiples of those," said Ashish Wadhwani, a Singapore-based managing partner at IvyCap Ventures, an Indian firm managing about US$400 million of assets. Last year, fundraising on SGX halved to US$565 million, a six-year low, with just eight listings, Refinitiv data shows. Underlying Singapore' s cautious approach, state investor Temasek-linked entities featured among cornerstone investors in two of the three SPACs, all of which were oversubscribed. Vertex Venture Holdings, a Temasek subsidiary, and one of South-east Asia' s largest funds, was the first to launch a S$200 million tech SPAC in January.
" I expect the exchange and regulators to be quite careful in all these processes. I don' t think they will suddenly just open up the floodgates and everybody can come," said Chua Kee Lock, CEO of Vertex, which manages US$5.1 billion of assets. |
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Singpost
Master |
07-Feb-2022 14:13
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london be bigger market |
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piscesmonkey
Supreme |
07-Feb-2022 11:50
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Saudi oil giant Aramco seeking secondary listing in either London or Singapore: reports |
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ozone2002
Supreme |
07-Feb-2022 11:49
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Last:9.89  +0.49superstar today sell on rally gd luck dyodd |
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erhaier
Senior |
07-Feb-2022 09:37
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China' s Telsa NIO lists on SGX instead of its motherland HKEX... hmm haha. |
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john_ric
Supreme |
07-Feb-2022 09:23
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Huat ah.
Below $10 must accumulate. |
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Singpost
Master |
07-Feb-2022 09:21
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take profit ...run .. |
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PhillipTan
Supreme |
05-Feb-2022 20:41
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SGX ' very viable pillar' for companies seeking dual listingThe Singapore Exchange (SGX) can be a " very viable pillar" for companies seeking a dual listing in an Asian timezone, says SGX CEO Loh Boon Chye.A secondary listing on SGX will give these companies " 24-hour liquidity across a global investor pool" , he adds. Speaking at a media briefing ahead of SGX' s 1HFY2022 results on Feb 4, Loh' s comments come amid reports that leading electric vehicle (EV) maker Nio is exploring a secondary listing on SGX. The China-based company has been listed on the New York Stock Exchange since 2018. According to the International Financing Review, Hong Kong is the favoured listing for these " home-coming" companies but SGX is positioned as a " neutral" location with good access for the international investment community as well. Says Loh: " With the initiatives that we' ve done in the last two years, whether that is investor outreach, regional retail market makers, interagency initiatives and our Spac frameworks, we' re really now seeing a few pockets of clear interests." " Dual listing is really one of a very viable capital raising options for companies and SGX does provide a conducive platform with a wide and complementary pool of investors for some of these companies," he adds. Beyond a dual listing, initiatives like Anchor Fund @ 65 and the EDBI Growth IPO Fund encourage companies to gun for a " pure IPO" , says Loh. Last September, the Singapore government co-invested $1.5 billion with Temasek Holdings, establishing the Anchor Fund @ 65. The fund will support high-growth enterprises eyeing an IPO, including secondary and dual listings on the SGX. EDBI - the venture arm of the Economic Development Board - also introduced the Growth IPO Fund. With $500 million for a start, it will invest in growth-stage companies to give them a leg up to an IPO here. There were six new equity listings on SGX in the 1HFY2022 period, which together raised $1.3 billion. Among them was Digital Core REIT, which raised US$600 million. Finally, while the Spac framework is in its early days, Loh is optimistic that the new option will spur interest in equity raising on SGX. " We will work through the framework to have a good group of sponsors coming through, but I think the key today is the subsequent business combinations." SGX welcomed three Spacs in January. Vertex Tech debuted on Jan 20, raising $200 million. Pegasus Asia followed on Jan 21, raising $170 million, while Novo Tellus Alpha listed on Jan 27 with $150 million raised. But while all three Spacs debuted at $5 per share, trading volume has been muted and share prices have slid to between $4.85 and $4.99, despite stabilising action by issue managers. That said, Spacs are " not expected to trade a lot" , says Loh. " Relative to the overall global market, I think the performance of the three Spacs has held up well." " Listing the Spac is only the initial step. The sponsors are clearly looking at potential acquisitions in a business combination. With the number of start-ups, businesses and unicorns, we are confident that this will actually create capital raising opportunities for these companies and create more choices for investors," he says. " It is now upon us to try and harness the interests of these prospects and work with them to an eventual listing. Obviously, we hope market conditions will continue to stay conducive," adds Loh. Shares in SGX closed 2 cents lower, or 0.21% down, at $9.40 on Feb 4. |
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lifeisgood
Supreme |
05-Feb-2022 15:24
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Read in today' s newspaper SGX trying to justify our 3 SPACS IPO performance considered very good already. |
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Joelton
Supreme |
05-Feb-2022 12:57
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SGX posts 8.8% drop in first-half profit on higher operating expenses
Bourse operator Singapore Exchange (SGX) posted a 8.8 per cent decline in net profit to $218.7 million for the first half of its financial year 2022 ended Dec 31, 2021, down from $239.8 million it reported a year ago.
After adjusting for net gains from long-term investments, amortisation of purchased intangible assets and other non-cash and non-recurring items that have less bearing on the company' s operating performance, it reported a 2.7 per cent decline in adjusted net profit to $221.8 million, down from $228 million in the same period last year.
Net profits fell in the half-year due to an 8.2 per cent increase in operating expenses to $215.6 million. These included staff expenses, which rose 8.2 per cent to $119.1 million, technology expenses, which rose 7.2 per cent to $36.5 million and professional fees, which climbed 24.8 per cent to $7.9 million.
Earnings per share on a fully diluted basis for the half-year declined 10.8 per cent to 19.9 cents, from 22.3 cents a year earlier.
SGX' s board of directors also declared an interim quarterly dividend of eight cents per share payable on Feb 21, which brings the total dividends for the half-year to 16 cents per share, the same amount as a year earlier.
Operating revenue in the first half of FY2022 was up 0.2 per cent to $521.6 million from the $520.8 million it reported a year earlier.
The company also noted that its underlying core businesses excluding treasury income rose by 6 per cent to $501 million from S$472.6 million a year ago.
The growth in operating revenue was led by its fixed income, currencies and commodities segment, which saw revenue rise 14.9 per cent to $114 million, and the data, connectivity and indexes segment, which rose 3.4 per cent to $73.1 million.
However, the equities segment saw revenue decline 4.7 per cent to $334.5 million.
Still, SGX remained optimistic and noted that it saw positive momentum in its equity listings and products.
" There is clear interest from potential issuers on the back of our new special purpose acquisition companies framework and joint inter-agency funding for high-growth companies," it said.
The company also noted that it anticipates inflationary pressures and interest rates to rise as Asian economies recover and noted that it could lead to higher demand for portfolio risk management solutions and access to growing Asian markets.
Chief executive officer Mr Loh Boon Chye said in a media briefing that even as net profit fell SGX' s underlying core revenue, which excludes non-core incomes and non-recurring expenses, grew by 6 per cent in the reported period.
" In the last two years, we have made $1 billion (Sing dollar) worth of acquisitions and investments to leapfrog our multi-asset strategy and capture the growth opportunities across asset classes and platforms."
He noted the currencies business can be scaled further as SGX integrates its
newly-acquired subsidiary MaxxTrader and ramp up its FX Electronic Communication Network in the coming months.
Looking ahead, Mr Loh said: " As Asian economies recover, demand for Asia-centric portfolio investment and risk management solutions will rise, while China will remain high on investors&rsquo radar as its economy will bounce back."
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Lobster
Elite |
04-Feb-2022 18:42
Yells: "Even Adam Khoo believes in the Black Market!" |
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Huh? Not bad? When I started investing in it.... my yield is more than 6%... no joke. now if you buy, your yield is less than 3.5%. 8 cents is very predictable, never improved. SGX posts 8.8 per cent decline in net profit due to increase in operating expenses |
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john_ric
Supreme |
04-Feb-2022 17:50
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The Board of Directors has declared an interim quarterly dividend of 8.0 cents (8.0 cents) per share, payable on 21 February 2022. This brings the total dividends in 1H FY2022 to 16.0 cents (16.0 cents) per share. not bad lah. |
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TikTalk
Supreme |
04-Feb-2022 17:40
Yells: "Anyone miss me?" |
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News Release 4 February 2022 SGX reports 1H FY2022 net profit of S$222 million 1H FY2022 Financial Summary 1H FY2022 1H FY2022 Adjusted* Revenue S$522 million, comparable EBITDA S$306 million, down 5% S$310 million, down 4% Net profit attributable to equity holders of the company (NPAT) S$219 million, down 9% S$222 million, down 3% Earnings per share (EPS) 20.4 cents 20.7 cents Interim quarterly dividend per share 8.0 cents * Adjusted EBITDA, NPAT and EPS exclude certain non-cash and non-recurring items that have less bearing on SGX&rsquo s operating performance. Hence, they better reflect the group&rsquo s underlying performance. Adjusted figures are non-SFRS(I) measures. Please refer to Section 7 of our financial results for reconciliations between the adjusted and their equivalent measures. All figures in the press release are for the year except for figures in brackets, which are for the year earlier, unless otherwise stated. Some figures may be subject to rounding. Singapore Exchange (SGX) today reported 1H FY2022 adjusted net profit of S$221.8 million (S$228.0 million). Total revenue of S$521.6 million (S$520.8 million) was comparable to the same period last year. Revenue from SGX&rsquo s underlying core businesses1 rose 6% to S$501.0 million (S$472.6 million), with higher trading and clearing revenues from equity, currency and commodity derivatives. SGX&rsquo s fastgrowing subsidiaries, BidFX and Scientific Beta, achieved collectively a 20% increase in revenues to S$40.4 million (S$33.8 million), accounting for 8% (7%) of SGX&rsquo s total revenue. Adjusted EBITDA was S$309.6 million (S$321.2 million), while adjusted earnings per share stood at 20.7 cents (21.3 cents). The Board of Directors has declared an interim quarterly dividend of 8.0 cents (8.0 cents) per share, payable on 21 February 2022. This brings the total dividends in 1H FY2022 to 16.0 cents (16.0 cents) per share. Loh Boon Chye, Chief Executive Officer of SGX, said, &ldquo We are making good progress in executing our multi-asset strategy. Our underlying core revenue has grown, with strong performance in our currencies and commodities, healthy market share and yields for our key equity derivative products, as well as steady growth in our market data and index business. In the last two years, we have made S$1 billion worth of acquisitions and investments to leapfrog our multi-asset strategy and capture 1 Excluding treasury income Page 2 the growth opportunities across asset classes and platforms. One clear example is in currencies where we now have a sizeable FX OTC and futures business that can scale further as we integrate our newly-acquired subsidiary MaxxTrader and ramp up our FX Electronic Communication Network (ECN) in the coming months.&rdquo During the period under review, total FX average daily volume (ADV) &ndash comprising both on-exchange futures and OTC &ndash increased 46% from US$39 billion to US$57 billion2 . SGX&rsquo s FX ECN went live in November 2021 with successful trades completed across different currency pairs. The acquisition of FX platform MaxxTrader was completed in January 2022. Looking ahead, Mr Loh added, &ldquo As Asian economies recover, demand for Asia-centric portfolio investment and risk management solutions will rise. China remains high on investors&rsquo radar, which is expected to spur more activity for our range of China-access products. We will continue to broaden our securities and derivatives product shelf, enhance our global connectivity to facilitate new capital flows, and boost our digitalisation and sustainability efforts. On the capital raising front, we are seeing clear interest from potential issuers on the back of our new Special Purpose Acquisition Companies (SPACs) framework and joint interagency funding initiatives3 for high-growth companies. Overall, we are optimistic of the opportunities ahead as an expanded SGX Group.&rdquo Results Summary Fixed Income, Currencies and Commodities (FICC) FICC revenue &ndash comprising Fixed Income as well as Currencies and Commodities &ndash Derivatives revenues &ndash increased 15% to S$114.0 million (S$99.2 million), accounting for 22% (19%) of total revenue. Fixed Income revenue was comparable at S$6.6 million (S$6.7 million). Listing revenue: S$4.9 million, down 4% from S$5.1 million Corporate actions and other revenue: S$1.7 million, comparable There were 492 (358) bond listings with amounts issued of S$209.4 billion (S$169.9 billion). Currencies and Commodities &ndash Derivatives revenue increased 16% to S$107.4 million (S$92.5 million), accounting for 21% (18%) of total revenue. Trading and clearing revenue: S$84.2 million, up 18% from S$71.4 million Treasury and other revenue: S$23.2 million, up 10% from S$21.1 million Trading and clearing revenue grew mainly due to higher clearing revenue from BidFX and increased volumes in commodity and currency derivatives. Commodity derivatives volumes increased 17% to 14.1 million contracts (12.0 million contracts), while currency derivatives volume increased 6% to 12.6 million contracts (11.8 million contracts). Treasury and other revenue increased mainly due to higher revenue from platform services. Equities Equities revenue &ndash comprising Equities &ndash Cash as well as Equities &ndash Derivatives revenues &ndash declined 5% to S$334.5 million (S$350.8 million), accounting for 64% (67%) of total revenue. Equities &ndash Cash revenue decreased 5% to S$190.7 million (S$201.1 million), accounting for 37% (39%) of total revenue. Listing revenue: S$17.2 million, comparable Corporate actions and other revenue: S$13.2 million, down 10% from S$14.7 million Trading and clearing revenue: S$100.8 million, down 10% from S$111.5 million Securities settlement and depository management revenue: S$55.8 million, up 5% from S$53.1 million Treasury and other revenue: S$3.7 million, down 24% from S$4.8 million There were 6 (5) new equity listings which raised S$1.3 billion (S$0.7 billion). Secondary equity funds raised were S$4.4 billion (S$6.5 billion). Daily average traded value (DAV) and total traded value declined 8% and 7% to S$1.2 billion (S$1.3 billion) and S$150.4 billion (S$161.8 billion), respectively. This was made up of Cash Equities4 , where total traded value decreased by 7% to S$144.7 billion (S$156.3 billion), and Other Products5 , where traded value increased 4% to S$5.7 billion (S$5.5 billion). There were 129 (128) trading days in 1H FY2022. Overall average clearing fees declined 4% to 2.60 basis points (2.71 basis points). Average clearing fees for Cash Equities decreased 4% to 2.66 basis points (2.77 basis points) due to higher participation from market makers. Average clearing fee for Other Products increased 10% to 1.09 basis points (0.99 basis points) due to increased activity from higher-yielding exchange-traded funds. Overall turnover velocity for 1H FY2022 was 39% (49%). Securities settlement and depository management revenue increased mainly due to higher Deliveryversus-Payment guarantee fees. Equities &ndash Derivatives revenue dipped 4% to S$143.8 million (S$149.7 million), accounting for 28% (29%) of total revenue. Trading and clearing revenue: S$131.3 million, up 19% from S$110.6 million Treasury and other revenue: S$12.5 million, down 68% from S$39.1 million Trading and clearing revenue increased mainly due to higher average fees from SGX FTSE China A50, Nifty 50 and FTSE Taiwan Index futures. Treasury and other revenue decreased mainly from lower treasury income, which declined primarily due to lower yield. Average fee per contract for Equity, Currency and Commodity derivatives was higher at S$1.50 (S$1.27) mainly due to higher fees for the SGX FTSE China A50 Index futures and the absence of introductory fees for the FTSE Asia expansion suite implemented a year ago. Data, Connectivity and Indices Data, Connectivity and Indices revenue increased 3% to S$73.1 million (S$70.7 million), accounting for 14% (14%) of total revenue. Market data and Indices revenue: S$41.4 million, up 5% from S$39.6 million Connectivity revenue: S$31.8 million, up 2% from S$31.2 million Market data and indices revenue increased 5% mainly due to higher revenue from Scientific Beta and an increase in data subscription. Adjusted total expenses increased 4% to S$252.1 million (S$242.1 million), which exclude amortisation of purchased intangibles, acquisition-related expenses and other one-off items. Operating expenses increased 8% to S$215.6 million (S$199.3 million) mainly from higher staff costs and technology expenses. Average headcount for the half-year was 980 (968), including 139 (120) staff from Scientific Beta and BidFX. Depreciation and amortisation decreased 5% to S$46.5 million (S$49.0 million) mainly due to fully depreciated system-related assets. This was partially offset by an increase in depreciation relating to BidFX. Total capital expenditure was S$16.5 million (S$19.8 million). These investments were mainly for upgrades to SGX&rsquo s Titan OTC trade reporting system, and the setup of infrastructure for BidFX and the NSE-SGX Gujarat International Finance Tec-City (GIFT) Connect. With effective management of expenses amidst inflationary pressures, total expenses for FY2022 will be kept between S$565 million and S$575 million, even with the inclusion of expenses relating to MaxxTrader. SGX&rsquo s capital expenditure guidance for FY2022 remains unchanged at between S$60 million and S$65 million. -End- |
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john_ric
Supreme |
04-Feb-2022 13:56
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results today after market close. |
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Joelton
Supreme |
19-Jan-2022 09:41
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SGX likely to post moderate H1 FY2022 earnings, dragged by cash equities: UOBKH
THE Singapore Exchange (SGX) SGX: S68 -0.93% is expected to grow year on year in most segments based on strong H1 financial year 2022 volumes, reported UOB Kay Hian (UOBKH) ahead of results announcements from the Singapore Exchange.
However, anticipate overall results to be flattish, due to predicted declines in the cash equities segment, the report released on Tuesday (Jan 18) added.
UOBKH analyst Llelleythan Tan maintains a " hold" call on the investments holding company, but has revised the target price to S$9.74, up S$0.33 from the previous target of S$9.41, which is 23.8 times its estimates for SGX' s FY2022 price to earnings ratio.
The brokerage has also revised its FY 2022, 2023 and 2024 earnings predictions down to S$437.8 million, S$468.9 million and S$490.9 million respectively. It also expects FY 2022 earnings to moderate slightly by 1.7 per cent year on year.
Shares of SGX closed at S$9.54, down S$0.09 or 0.9 per cent on Tuesday.
Among the segments, fixed income, currencies and commodities derivatives are " earmarked to be core revenue growth drivers" , said Tan. The segment will see an overall 16-18 per cent increase from the year before, as the global economy continues to recover alongside supply chain constraints.
The currencies and commodities derivatives segment is forecasted to increase 18.6 per cent from the year before, following strong volumes in the USD/CNH (US dollar and offshore Chinese yuan) and INR/USD (Indian rupee and US dollar) futures, as well as high growth in forward freight agreements, iron ore and petrochemical derivatives.
Fixed income revenue is also poised to go up S$0.5-1 million year on year, the analyst said, citing the higher amount of funds raised from bond listings.
Data, connectivity and indices will also be reliable sources of revenue, as the acquisition of smart data index firm Scientific Beta in FY2021 resulted in growing demand for index tracking, and environment, social and governance and thematic investing.
Equity derivatives is likely to see growth of 8.4 per cent this year, due to higher average fee per contract assumptions and removing introductory discounts for the FTSE China A50 contracts, despite dips in total contract volumes.
However, the projected growth will be dragged by cash equities, as lower securities were traded daily, bringing the securities daily average traded volume assumption down to S$1.28 billion, compared to S$1.35 billion in the previous year, the analyst noted.
" Based on H1 FY2022 market statistics, we expect the revenue to post a 3- 4 per cent year on year decline, forming 48 per cent of our FY22 forecasts as securities turnover value dropped 7 per cent year on year," he said.
Nonetheless, the overall decline in FY2022 may be stemmed by the new anticipated special purpose acquisition company (SPAC) listings in the second half of the year, depending on their successes, he added.
Stocks are likely to be impacted by record high inflation rates, as 3 interest rate hikes are expected this FY 2022, Tan said.
The hikes, with the first expected in June 2022, would boost SGX' s treasury income, although it may also depress trading velocity and revenue from cash equities, he wrote.
Despite the upwards revision of the target price, UOBKH is remaining cautious about the outlook of SGX, due to competition from the Hong Kong Exchange' s MSCI A50 index futures offering.
But Tan said that the success of " exciting initiatives" such as over-the-counter forex offerings, government initiatives, depositary receipt linkages and SPACs could " rerate SGX to trade similar to peers" .
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Zenjustzen
Member |
18-Jan-2022 17:15
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No dividend distribution for Jan 2022? |
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gosharej
Senior |
17-Jan-2022 16:21
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x 0 Alert Admin |
No crash, No bad news. well supported. |
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