Singapore Exchange 03 (Feb 11 - Dec 24)

[behappyalways]

SGX reports 12% higher 1H21 earnings of $240 mil, declares interim quarterly dividend of 8 cents per share
https://www.theedgesingapore.com/capita ... dividend-8

[winston]

not vested

Singapore Exchange Ltd (SGX SP) - Encouraging transition to FTSE

Operating an integrated securities and derivatives exchange across different asset classes.

SGX is the leading securities market in Southeast Asia, exchanging trade stocks and bonds, ETF, warrants, derivatives and infrastructure funds.

The Equities segment contribute an estimated 70-80% to total revenues, while Fixed Income, Currencies and Commodities (FICC) and Data, Connectivity and Indices (DCI) contribute 10-20% each.

Looking ahead, the company expects FICC and DCI to be relatively faster growth areas.

The company has committed to a progressive dividend policy, and guided for annualized dividend of 32 cents/sh (raised from FY20’s payout of 30.5 cents/share).

While we are positive on its initiatives to broaden its revenue streams, time will be needed while a key concern remains on competition risks in the China A50 equity derivatives space. HOLD.

Source: OCBC

[winston]

not vested

The Singapore Exchange (SGX) is exploring mergers and acquisitions (M&A) to drive its ambitions as a multi-asset exchange.

The bourse has operations in place across asset classes and now will concentrate on bolstering them, chief executive officer Loh Boon Chye said in an interview on Wednesday.

That means seeking deals that bulk up the foreign exchange, fixed income, data and capital markets connectivity businesses.

SGX had previously set a goal to have the fixed income, currencies and commodities segment, along with data, connectivity and indices, double revenues by about 2025.

It may reach that goal before the initial target date, he said, adding the segments combined could account for 50 per cent of revenue by then.

Source: Phillips

[winston]

not vested

Singapore Exchange Ltd (SGX SP) - Softening in April’s market activities

Operating an integrated securities and derivatives exchange across different asset classes.

SGX is the leading securities market in Southeast Asia, exchanging trade stocks and bonds, ETF, warrants, derivatives and infrastructure funds.

The Equities segment contribute an estimated 70-80% to total revenues, while Fixed Income, Currencies and Commodities (FICC) and Data, Connectivity and Indices (DCI) contribute 10-20% each.

Looking ahead, the company expects FICC and DCI to be relatively faster growth areas.

The company has committed to a progressive dividend policy, and guided for annualized dividend of 32 cents/sh (raised from FY20’s payout of 30.5 cents/share).

While we are positive on its initiatives to broaden its revenue streams, time will be needed while a key concern remains on competition risks in the China A50 equity derivatives space (China A50 index futures accounted for 34% of SGX’s FY20 revenues and ~46% of its FY20 equity derivative volumes). HOLD.

Source: OCBC

[behappyalways]

SGX is buying sell side FX company MaxxTrader for US$125 mil
https://www.theedgesingapore.com/issues ... -us125-mil

[winston]

not vested

SINGAPORE EXCHANGE LTD (SGX SP)

Recommendation : SELL
Fair Value : SGD 11.30

CLOSING FY21 ON A SOFTER NOTE.

FY21 net profit declined 6% yoy.

2HFY21 net profit of SGD205.6mn declined 20% yoy and 14% hoh driven by lower revenues as market activities softened.

Quarterly dividend of SGD0.08/sh was declared, meeting expectations, which brought FY21 dividends to SGD0.32/sh (vs FY20’s SGD0.30/sh).

Higher cost guided for FY22E as the company continues to invest on medium term growth initiatives. Valuations look fair while a key concern remains on potential future competition risks to its China FTSE A50 futures trading income.

Operating an integrated securities and derivatives exchange across different asset classes. SGX is the leading securities market in Southeast Asia, exchanging trade stocks and bonds, ETF, warrants, derivatives and infrastructure funds.

The Equities segment contribute an estimated 70-80% to total revenues, while Fixed Income, Currencies and Commodities (FICC) and Data, Connectivity and Indices (DCI) contribute 10-20% each.

Looking ahead, the company expects FICC and DCI to be relatively faster growth areas.

The company has a progressive dividend policy (FY21 dividends of 32 cents/sh was raised from FY20’s 30.5 cents/share) and is introducing a scrip dividend scheme in FY22 with 0-3% discount range guided, to provide shareholders with an option to invest their cash dividends in shares.

While we are positive on its various initiatives to broaden its revenue streams, time will be needed to execute its plans, while a key concern remains on competition risks in the China A50 equity derivatives space (China A50 index futures accounted for ~52.8% of its FY21 equity derivative volumes).

Source: OCBC

[behappyalways]

How Singapore’s ‘zombie’ stock exchange is undermining its financial hub dream
https://www.scmp.com/comment/opinion/as ... -financial

[behappyalways]

SGX 1H22 net profit inches down 3% to $222 mil
https://www.theedgesingapore.com/capita ... -3-222-mil

[behappyalways]

SGX reports FY2022 earnings of $451.4 million, up 1%; maintains full year dividend payout at 32 cents
https://www.theedgesingapore.com/capita ... -payout-32

[behappyalways]

SGX disposes investment in the ICBC CSOP FTSE Chinese Government Bond Index ETF for $31 mil
https://www.theedgesingapore.com/news/m ... etf-31-mil