SGX
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SGX is a definite buy below 7.50, a screaming buy below 7.20 - if it gets there again! :)
SGX recent 1Q2014 earnings above estimate, despite market volatility due to U.S. tapering and debt issues. SGX to introduce more derivative products, securities activities likely to improve in the coming months.. smart longists huat ar!
how nice.. :)
To be more exact....... should be listing fees instead of maintenance fees. Huat arh.....
WanSiTong ( Date: 26-Jul-2013 10:35) Posted:
and don't forget they are going to increase the maintenance fees for the listed Cos. Huat ah !
Bottom line will be boosted !! 
Mr_SGX ( Date: 26-Jul-2013 10:28) Posted:
Make no mistake, SGX is one of the better good quality stock around.. very good growth potential, reasonably good dividend payout, zero debt etc.
MrSGX like like.. 
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CIMB TP : 8.69 Outperform
Many little positives
SGX kicked off its FY14 by beating expectations handsomely. Securities clearing fees rate was higher-than-expected. Listing fees crept up and tech expenses growth was curbed. With new products to cement its position as the derivatives exchange of Asia, we turn positive.
1Q14 profit (S$92.3m) was 10% above our expectations and 11% above the Street?s. 1Q was 25% of FY14 estimates, more than we expected as 3Q (Jan-Mar) is typically stronger. The beat came from a variety of factors, which we think can keep up. We raise our FY14-16 EPS by 10-17%, roll forward our DDM-based target price to S$8.69 and upgrade from Underperform to Outperform. Catalysts include new derivatives products gaining traction.
What went right?
1) Securities revenue (38% of the total) came in strong as the clearing rate rose to 3.2bp (vs. average of 2.9bp). The higher rate was due to a low proportion of capped trades as retail activity rose and institutional trades shifted to a more diversified pool of smaller stocks. Although the 3.2bp rate is a little high and will recede, the focus on smaller names in Singapore means that the clearing rate should be higher than before.
2) Listing fees (6% of total) crept up. This was due to a phased increase of listing fees and more rights and bonds issuances. The full effect of the fees hike is yet to be felt.
3) Technology expenses did not rise as guided. SGX has guided for a rise in costs in FY14, but we think the original cost guidance was too high.
Earnings drivers in 2H14
We believe there are two key earnings catalysts to look for in 2H14-FY15. The first is the increase in listing fees which will come into full effect in 2H14. The second is the launch of new derivative products (Thai and the Philippines index futures) and further traction in the derivative space.
Our favourite: derivatives
Interestingly, derivative open interest rose 6% qoq in a quarter where volumes fell 16%. As products come on and add to client stickiness, there are clear signs that SGX is becoming the derivatives exchange of choice in Asia. We believe that is the key reason to buy SGX.
https://brokingrfs.cimb.com/iJFFMxRR2H2p1-2SDnfdKfkyAsXLnryKdTaymeI-R8gxPW9Gud0QLvuF1d3nhRZ515AlTGYYw5c1.pdf
Results was still above estimates, despite the group reporting core net profit down 10% q/q to $92m, which was underscored by the softened market momentum during the quarter. Bottom-line was helped partly to a 5% quarterly decline in operating costs. Cash turnover dropped 15% q/q derivatives turnover also declined at a similar pace owing to the weaker turnover in Japan (though partly compensated by the active China market). Average daily turnover (ADT) for securities fell to $1.1bn month-to-date in October 2013 and velocity is now 39%, which is in the low-end of the historical range and well below the 55% five-year trailing average. This implies limited downside risk, although cash turnover would normally slow down into the year-end. Turnover of the Nikkei 225 Index future dropped over 40% q/q alongside the lower cash turnover in Japan. But this could be a temporary break ? in 3Q13, total cash turnover in Japan was up 127% y/y and SGX?s Nikkei futures turnover was up ?only? 20% y/y. Even taking into account the lower market share, there is ample room to catch up. Latest broker ratings as follows: CIMB upgrades to O/p with $8.69 TP HSBC maintains O/w with $8.50 TP
17 October 2013
SGX reports first-quarter net profit of $92 million
?
? Operating profit: $107 million, up 21%
? Net profit: $92 million, up 24%
? Earnings per share: 8.6 cents, up 24%
? Interim dividend per share: 4.0 cents
For the full SGX Financial Statements announcement, please visit www.sgx.com.
Revenue: $184 million, up 15% from a year earlier
CS reiterates its Outperform rating on counter, with TP $9.00 (24.5% upside) pegged to 25x forward earnings (8-year average). House see some downside risk to consensus earnings and share price if equity volumes remain weak. The key investment case for SGX is longer-term growth through both existing market growth and success in its strategy to become an Asian regional gateway, with derivatives being the medium-term driver. Nearer term, its fortunes are more linked to current market volumes. Catalysts include higher trading volumes, IPOs and subsequent capital raisings and success of new product launches.
Technically SGX show potential rebound from here.
http://mystocksinvesting.com/singapore-stocks/singapore-exchange-sgx/singapore-exchange-sgx-rebound-from-here/ WanSiTong ( Date: 04-Oct-2013 17:17) Posted:
Singapore Exchange - Continued positive outlook on shift towards Equities
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Singapore Exchange - Continued positive outlook on shift towards Equities
SGX: trading and clearing volumes in Sep. Total securities turnover was $30.0b, +6% yoy, thanks to one more trading day in Sep for this year. Otherwise, the securities daily average value (SDAV) was up 1% to $1.4b. Catalist turnover rose 5x yoy to $2.9b. Derivatives continued to grow, as total futures and options volume increased 26% yoy to 8.9m contracts, led by a yoy doubling of China A50 Index Futures volume to 1.7m contracts. Meanwhile, SGX is becoming more attractive as a listing venue for early-stage mineral, oil and gas firms. Australian upstream O& G co Linc Energy announced plans to move its listing from Australia to SGX. Linc produces oil in US, and owns undeveloped coal and shale resources in Australia also possesses unique underground coal gasification UCG technology. Highlights listing on SGX will improve co's access to intl capital mkts and co " will be well positioned to capitalise on Spore's strategy to become one of the world's top 3 major O& G trading hubs" . Linc will hold EGM on 6 Nov, with shs expected to be admitted to SGX on 6 Dec.
Singapore Exchange ST: rebound expected.
Update on supports and resistances.
Pivot: 7.1
Our preference: Long positions above 7.1 with targets @ 7.55 & 7.68 in extension.
Alternative scenario: Below 7.1 look for further downside with 6.95 & 6.8 as targets.
Comment: the RSI calls for a rebound.
Key levels
7.85
7.68
7.55
7.33 last
7.1
6.95
6.8
Copyright 1999 - 2013 TRADING CENTRAL
SGX announced new mainboard admission rules and continuing listing obligations for mineral, oil and gas (MOG) companies. The new rules seek enhanced disclosure to better safeguard investors? interests, will come into effect 27 Sep. Admission standards for MOG aspirants that are not in production: i) Market cap > $300m based on issue price and post-invitation share capital ii) Discloses its plans, milestones and capital expenditure to advance to production stage. Requirements for all MOG companies: i) Existence of any resource or exploration results must be quantified ii) Have sufficient working capital for 18 months from listing iii) Have at least one independent director with appropriate industry experience and expertise iv) Appoint an audit firm with the relevant industry experience MOG companies are also required to include a valuation report on its reserves in the offer document, attached with an independent qualified person on any significant resource or reserve they have or find going forward.
CS reduced its forecast by 3% following review of Aug statistics, with overall equities volumes remaining subdued, albeit improving from July. TP reduced to $9.00 (from $9.25), implying 22x 12-month forward earnings (around its eight-year average). CS see downside risk to its forecasts (FY14E ADT of $1.5b) should current weak volumes sustain. House believe the SGX does have a solid longer-term growth profile as a regional hub (especially in derivatives), with nearer-term fortunes of the stock more market-volume related. CS note that Jul/ Aug is often a seasonally weak month, so would not read too much into the weakness. The stand-out area for SGX remains derivatives, where CS believe it is starting to build critical mass in many products and SGX stands a good chance of becoming a regional trading hub for such contracts.
Aug operating data. Securities daily average value was down 4% to $1.4b, despite Catalist turnover surging nearly 5-fold yoy to $1.4b. Growth continued to be driven by derivatives trades. Total futures and options volume rose 32% yoy to 8.6m contracts, boosted by China A50 Index Futures (doubled to 1.8m contracts yoy), Nifty Index Futures (volume +34% to 1.6m contracts). Meanwhile, the volume of OTC commodities cleared increased 29% yoy to 49,667 contracts, and volume of iron ore swaps cleared increased 53% yoy to 45,610 contracts.
SGX IS MOVING AGAIN ... :)
Seems you predicted quite close, this morning bear feelings around.
hotokee ( Date: 28-Jul-2013 10:13) Posted:
Be careful, don't be over confident.
Evidence showing bearishness on the horizon for global stocks and Singapore stocks may not like to be standing on their own. Most of the time STI will copy other markets.
Two clear signals are there raring the ugly head for the coming of the bears.
1. The divergence in US Shares, where indices continuing upwards but many shares are falling down.
2. China slower growth can cause concerns for investors as this also affects American stocks having their investments in China. Only Chinese property counters are worthwhile because as the economy weakens, land and development resources will be cheaper and helps future growth and profitability of these companies.
3. Britain is recovering from recession and this will attract investments that pull out from the US causing more catalysts for US shares to fall as a result. When US markets fall, we in Singapore will become more kiasu.
Thus I warn that a bear is coming. It is just a matter of time. But how long the market will stay bearish after that, who knows?
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Be careful, don't be over confident.
Evidence showing bearishness on the horizon for global stocks and Singapore stocks may not like to be standing on their own. Most of the time STI will copy other markets.
Two clear signals are there raring the ugly head for the coming of the bears.
1. The divergence in US Shares, where indices continuing upwards but many shares are falling down.
2. China slower growth can cause concerns for investors as this also affects American stocks having their investments in China. Only Chinese property counters are worthwhile because as the economy weakens, land and development resources will be cheaper and helps future growth and profitability of these companies.
3. Britain is recovering from recession and this will attract investments that pull out from the US causing more catalysts for US shares to fall as a result. When US markets fall, we in Singapore will become more kiasu.
Thus I warn that a bear is coming. It is just a matter of time. But how long the market will stay bearish after that, who knows?
FV from $6.80 to $8.10 ..this shows what a joker is capable of doing.
MrSGX never depend on the so-called analysts' TP/FA out there, read read only no harm but never follow.. best to depend on own analysis.
SGX is a blue-chip with zero debt n tremendous growth potential.. MrSGX not surprise if its share price say hallo to $10 n above anytime.
..
WanSiTong ( Date: 27-Jul-2013 23:06) Posted:
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SGX’s 4QFY13 core net profit rose 68% y-o-y (+5% q-o-q) to SGD103m, backed by average daily turnover (ADT) in the securities market of SGD1.6bn (+42% y-o-y -7% q-o-q), and a record quarter for derivatives. Dividends, however, were slightly disappointing. OSK-DMG raises its FY14 net profit forecast by 7% and its FV to SGD8.10 (23x CY14 EPS) from SGD6.80. Upgrade to Neutral from Sell.
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SGX’s 4QFY13 core net profit rose 68% y-o-y (+5% q-o-q) to SGD103m, backed by average daily turnover (ADT) in the securities market of SGD1.6bn (+42% y-o-y -7% q-o-q), and a record quarter for derivatives. Dividends, however, were slightly disappointing. OSK-DMG raises its FY14 net profit forecast by 7% and its FV to SGD8.10 (23x CY14 EPS) from SGD6.80. Upgrade to Neutral from Sell.
and don't forget they are going to increase the maintenance fees for the listed Cos. Huat ah !
Bottom line will be boosted !!
Mr_SGX ( Date: 26-Jul-2013 10:28) Posted:
Make no mistake, SGX is one of the better good quality stock around.. very good growth potential, reasonably good dividend payout, zero debt etc.
MrSGX like like..
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On a q-q basis, we expect lower revenue due to the lower trading activities for both Securities and Derivatives.
