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S i n g a p o r e

C o r p o r a t e

S ep t em be r 2 0 1 5

G u i d e

Market Outlook & Strategy

FSSTI

REVIEW: The global market rout continued in August and FSSTI was not spared, declining 8.8%
mom to 2,921.44. Market confidence was clearly shaken by external uncertainties, particularly
over Chinas economic outlook and fears of a currency war after the devaluation of the renminbi.
The uncertainties over the timing of the interest rate hike by the Fed also led to investor
uncertainties. On the local front, a better-than-expected 2Q15 GDP growth did not provide the
market lift. With the uncertain outlook, the Ministry of Trade and Industry (MTI) narrowed their
2015 GDP forecast to 2.0% to 2.5%, from 2.0% to 4.0% earlier. Company-specific news
dominated corporate newsflow as Silverlake was hit by another short-seller report. On a more
positive note, stocks such as Ezra and Olam received a lift after announcing new strategic
partners.
STRATEGY: With an uncertain external outlook and limited earnings visibility, the FSSTI is
expected to remain volatile. Against a difficult background and expectations of rising interest
rates, we would take a selective approach and would focus on liquid blue chips with reasonable
yield and strong financials. Investment themes we advocate are: a) resilient yield in low growth
environment, b) favourable risk-reward profile, c) M&A, and d) quality franchise at reasonable
valuations. On our BUY list are DBS, CapitaLand, CCT, SingTel, SingPost, SATS, STE,
ComfortDelGro and Sembcorp Industries. Our SELLs include SIA Engineering and Nam Cheong.
TOP GAINERS & LOSERS*
(S$)

Jul

Aug

% Chg

Pan Ocean

3.40

4.30

26.5

AliPictures2kHKD

1.00

1.20

20.0

0.455

0.545

19.8

Yuexiu Prop 2k

Noble Grp
Olam
Yanlord
Petra

(S$)

Jul

Aug

% Chg

Silverlake

0.97

0.56

(42.3)

Dairy Farm 900 US$

8.27

6.50

(21.4)

0.305

0.24

(21.3)
(21.3)

1.84

2.07

12.5

UE

2.49

1.96

0.965

1.085

12.4

FirstRes

1.90

1.525

(19.7)

2.87

2.94

2.4

Bumitama

0.925

0.75

(18.9)
(15.7)

Venture

7.85

8.01

2.0

GuocoLand

Sinarmas

0.555

0.565

1.8

ARA

1.31

1.32

0.8

1.525

1.535

0.7

AusNet Services
MapletreeInd

2.29

1.93

1.705

1.44

(15.5)

CDL HTrust

1.56

1.32

(15.4)

Yangzijiang

1.29

1.10

(14.7)

* Top 100 companies by market capitalisation

Refer to last page for important disclosures.

From 1/9/2014 to 31/8/2015

3600
3500
3400
3300
3200
3100
3000
2900
2800
2700
2600
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

SECTOR RATINGS & STOCK RECOMMENDATIONS


Sector
Aviation
Finance
Healthcare
LandTransport
Media
OilServices
Plantation
Property
REITs
Shipping
Shipyard
Supply Chain
Technology
Telecoms
Others
FSSTI

Aug/Jul (% Chg)
(6.4)
(12.4)
(9.3)
(7.9)
(5.7)
(19.0)
(10.7)
(10.1)
(7.0)
(11.3)
(8.6)
15.4
2.0
(8.1)
(11.9)

Weighting*
Market Weight
Overweight
Market Weight
Market Weight
Market Weight
Overweight
Overweight
Overweight
Overweight
Overweight
Market Weight
Market Weight
Overweight
Market Weight
-

Top Buys
SATS, ST Engrg
DBS, OCBC
ComfortDelGro
Ezion, Triyards
Wilmar,First Resources, Bumitama
CapitaLand, Wing Tai
CCT, MLT, ART, SGREIT
NOL
SCI
Venture
SingTel

(8.8)

* Refers to business prospects & earnings growth of the sector for the next 12 months.

S i n g a p o r e

C o r p o r a t e

S ep t em be r 2 0 1 5

G u i d e

Sector Performance
------------------- PE ------------------2014
2015F
2016F
(x)
(x)
(x)

------------- EPS Growth -----------2014


2015F
2016F
(%)
(%)
(%)

Net
Margin
(%)

ROA
(%)

ROE
(%)

--------- Yield --------2014


2015F
(%)
(%)

Price/
NTA ps
(x)

Net Cash
(Debt) to
Equity
(%)

Market
Cap.
(%)

Total
Market
Cap.
(S$m)

AVIATION

29.7

24.5

21.3

(18.6)

5.2

18.4

4.0

2.8

5.6

3.5

3.4

1.8

25.0

7.3

30,096

FINANCE

10.5

10.2

9.5

14.2

(0.7)

6.5

n.a.

1.1

13.0

3.7

3.8

1.4

n.a.

29.2

121,137

HEALTHCARE

51.1

45.6

37.2

6.5

11.4

22.5

11.2

3.2

4.7

0.6

0.5

4.0

(10.4)

4.4

18,376

LAND TRANSPORT

21.1

19.1

17.3

14.7

10.3

10.4

7.1

5.0

12.5

2.9

2.9

3.2

(22.5)

1.9

7,896

MEDIA

15.8

21.0

20.7

(6.3)

(25.0)

1.6

33.3

6.2

11.2

5.3

4.8

1.9

(16.9)

1.5

6,371

OIL SERVICES

3.8

6.1

3.7

3.9

(50.6)

64.9

13.1

4.8

13.0

2.5

0.4

0.4

(119.5)

0.6

2,338

PLANTATION

13.2

10.6

9.2

(18.0)

24.2

14.9

3.0

2.4

5.9

2.5

2.7

0.9

(73.4)

6.5

26,872

PROPERTY

7.3

14.7

14.1

46.2

(53.2)

4.6

37.1

4.1

9.6

2.7

2.5

0.7

(57.7)

6.9

28,618

REITS

18.4

16.3

15.3

(1.7)

10.0

5.0

52.7

3.3

5.1

6.6

6.7

0.9

(53.3)

9.3

38,503

SHIPPING

n.a.

n.a.

40.0

n.a.

n.a.

n.a.

(3.0)

(2.8)

(13.3)

0.0

0.0

0.6

(103.6)

0.5

2,147

SHIPYARD

7.2

8.6

9.0

2.3

(16.5)

(4.1)

10.6

5.5

17.0

5.8

5.4

1.1

(62.2)

6.9

28,603

SUPPLY CHAIN

11.6

9.8

8.6

13.9

10.2

12.8

0.6

1.8

7.5

6.1

3.6

1.0

(133.7)

2.1

8,833

TECHNOLOGY

15.8

14.8

13.5

6.7

7.4

9.1

5.7

5.6

7.6

6.2

6.2

1.9

8.5

0.5

2,213

TELECOMS

15.9

16.2

15.1

3.4

(2.2)

7.2

20.9

9.9

17.4

4.8

4.8

5.1

(31.4)

16.6

68,714

OTHERS

n.a.

19.5

16.4

n.a.

n.a.

18.4

(22.2)

(3.8)

(7.1)

4.4

4.4

1.2

(1.0)

5.8

24,165

OVERALL

14.0

13.3

12.2

(4.0)

2.2

8.3

9.0

1.8

9.1

4.1

4.0

1.4

(33.8)

100.0

414,883

S i n g a p o r e

C o r p o r a t e

S ep t em be r 2 0 1 5

G u i d e

Corporate Statistics
Rec

Price
31 Aug 15
(S$)

Last
Year
End

Company

Ticker

AVIATION
SIA
SIA Engg
SATS
ST Engrg
Tigerair
Sector

SIA SP
SIE SP
SATS SP
STE SP
TGR SP

SELL
SELL
BUY
BUY
HOLD

9.92
3.50
3.56
3.07
0.27

3/15
3/15
3/15
12/14
3/15

FINANCE
ARA
DBS
OCBC
SGX @
UOB@
Sector

ARA SP
DBS SP
OCBC SP
SGX SP
UOB SP

BUY
BUY
BUY
NR
NR

1.44
17.76
8.93
7.26
19.38

12/14
12/14
12/14
6/15
12/14

2014
(S$m)
367.9
183.3
195.7
532.0
(264.2)
1,014.6

Net Profit
2015F
(S$m)

EPS
2016F 2014 2015F 2016F
(S$m) (cents) (cents) (cents)

294.3
455.1
145.2
136.2
208.6
225.1
527.7 536.3
51.0
63.0
1,226.8 1,415.7

2014
(x)

PE
DPS
2015F 2016F 2014 2015F
(x)
(x) (cents) (cents)

Yield
Hist
Net
2014 2015F CFPS Margin ROA
(%)
(%)
(S$)
(%)
(%)

ROE
(%)

No of
shares
(m)

Market
Cap.
(S$m)

Book Price/ Net Cash/(Debt) to


NTA ps NTA ps Mkt Cap Equity
(S$)
(x)
(%)
(%)

Avg Daily
52-Wk Price Turnover
High Low 52-Wk
(S$)
(S$)
('000)

31.4
16.4
17.4
17.1
(17.7)
12.6

25.2
12.9
19.3
16.9
1.9
13.3

39.0
12.0
21.1
17.1
2.5
15.7

31.6
21.4
20.4
18.0
n.a.
29.7

39.4
27.1
18.4
18.2
14.5
24.5

25.4
29.1
16.8
17.9
10.7
21.3

22.0
14.5
14.0
15.0
0.0

22.0
12.0
15.1
15.0
0.0

2.2
4.1
3.9
4.9
0.0
3.5

2.2
3.4
4.2
4.9
0.0
3.4

1.65
2.4
0.20 16.4
0.23 11.2
0.23
8.1
(0.15) (39.0)
4.0

1.6
2.9
10.9
13.6
9.7
13.7
6.2
25.0
(26.3) (107.0)
2.8
5.6

1,199.9
1,123.3
1,124.1
3,122.5
2,498.6

11,902.5 10.25
3,931.5 1.16
4,001.6 1.19
9,586.1 0.42
674.6 0.08
30,096.3

1.0
3.0
3.0
7.4
3.2
1.8

29.3
11.6
9.2
0.6
0.3
14.5

28.0 12.91
33.3 4.80
24.8 3.92
3.0 3.82
1.1 0.37
25.0

9.57
3.20
2.83
2.70
0.22

1,317
482
1,476
2,880
6,663

87.5
111.3
90.9
10.4
4,046.0 4,383.0 4,670.8 163.0
3,842.0 3,841.2 4,127.4 102.5
320.4
348.6
376.2
30.0
3,249.0 3,189.4 3,419.5 198.0
11,544.9 11,873.5 12,684.8 118.9

13.2
174.0
92.5
32.6
197.5
118.1

10.8
184.9
98.8
35.1
211.8
125.8

13.9
10.9
8.7
24.2
9.8
10.5

10.9
10.2
9.7
22.3
9.8
10.2

13.4
9.6
9.0
20.7
9.2
9.5

5.0
58.0
36.0
28.0
75.0

6.1
60.0
36.0
28.0
76.3

3.5
3.3
4.0
3.9
3.9
3.7

4.2
3.4
4.0
3.9
3.9
3.8

0.10
n.a.
n.a.
0.38
n.a.

n.a.
n.a.
n.a.
44.8
n.a.
n.a.

22.6
1.0
1.0
20.3
1.1
1.1

28.3
11.6
14.4
36.7
12.6
13.0

845.2
2,513.3
4,055.2
1,071.6
1,614.5

1,217.0 0.41
44,636.7 13.25
36,213.0 6.53
7,780.1 0.75
31,289.9 15.12
121,136.7

3.5
1.3
1.4
9.7
1.3
1.4

n.a.
n.a.
n.a.
10.2
n.a.
n.a.

n.a. 1.83
n.a.21.5
n.a.10.92
80.9 8.8
n.a.25.05
n.a.

1.39
17.57
8.63
6.8
18.51

497
4,055
4,942
2,656
2,444

HEALTHCARE
IHH
IHH SP
Raffles Medical RFMD SP
Sector

HOLD
HOLD

1.93
4.37

12/14
12/14

292.1
67.6
359.8

333.5
70.5
404.0

415.1
79.9
495.0

3.6
12.1
4.1

4.1
12.3
4.6

5.1
13.9
5.6

53.9
36.1
51.1

47.4
35.6
45.5

38.1
31.4
37.1

1.0
5.5

0.8
5.5

0.5
1.3
0.6

0.4
1.3
0.5

0.06
0.14

10.3
18.1
11.2

2.7
11.0
3.2

4.1
13.4
4.7

8,223.2
573.3

15,870.8
2,505.3
18,376.2

0.48
1.01

4.0
4.3
4.0

(5.9)
4.5
(4.5)

(12.7)
19.5 4.99
(10.4)

2.25
3.75

1.735
419

LAND TRANSPORT
ComfortDelGro CD SP
SMRT
MRT SP
Sector

BUY
HOLD

2.81
1.22

12/14
3/15

283.5
91.0
374.5

316.0
96.4
412.3

345.0
110.3
455.3

13.3
6.0
10.2

14.9
6.3
11.3

16.2
7.2
12.5

21.1
20.4
21.1

18.9
19.3
19.1

17.3
16.8
17.3

8.3
3.3

8.0
3.5

2.9
2.7
2.9

2.9
2.9
2.9

0.30
0.19

7.0
7.4
7.1

5.5
3.9
5.0

13.1
11.0
12.5

2,148.4
1,523.9

6,036.9
1,859.1
7,896.0

0.74
0.57

3.8
2.1
3.2

(0.2)
(37.5)
(9.0)

(0.6)3.27
(79.2)
(22.5)

2.36
1.815

6,755
1.12

1,774

MEDIA
SPH
Sector

SPH SP

HOLD

3.94

8/14

404.3
404.3

303.2
303.2

308.2
308.2

25.0
25.0

18.8
18.8

19.1
19.1

15.8
15.8

21.0
21.0

20.7
20.7

21.0

18.8

5.3
5.3

4.8
4.8

0.28

33.3
33.3

6.2
6.2

11.2
11.2

1,616.9

6,370.8
6,370.8

2.09

1.9
1.9

(9.5)
(9.5)

(16.9)
(16.9)

4.35

3.86

3,157

OIL SERVICES
Ezion
Ezra
Marco Polo @
Nam Cheong
Pacific Radiance
Swiber
Triyards
Sector

EZI SP
EZRA SP
MPM SP
NCL SP
PACRA SP
SWIB SP
ETL SP

BUY
BUY
NR
SELL
BUY
SELL
BUY

0.72
0.13
0.21
0.147
0.315
0.111
0.325

12/14
8/14
9/14
12/14
12/14
12/14
8/14

283.4
56.9
10.1
116.9
86.6
27.5
33.5
614.8

211.7 338.8 20.9


63.6
56.4
3.5
16.7
34.2
3.0
23.5 46.5 5.6
19.1 69.9 11.9
11.2
35.2
4.5
39.1
55.5
11.4
384.9
636.6
8.5

13.2
2.2
4.9
1.1
2.6
1.2
12.1
4.2

21.2
2.0
10.0
2.2
9.6
3.8
17.1
6.9

3.4
3.7
7.0
2.6
2.6
2.5
2.9
3.8

5.4
5.8
4.3
13.1
12.0
9.1
2.7
6.1

3.4
6.5
2.1
6.7
3.3
2.9
1.9
3.7

0.1
0.0
0.0
1.5
3.0
0.0
1.0

0.1
0.0
1.0
0.0
0.0
0.0
1.0

0.1
0.0
0.0
10.2
9.5
0.0
3.1
2.5

0.1
0.0
4.8
0.0
0.0
0.0
3.1
0.4

0.31
0.15
0.09
0.06
0.17
0.14
0.15

57.9
3.0
9.0
15.6
39.7
3.0
9.9
13.1

8.7
1.4
2.3
11.3
8.4
1.0
7.8
4.8

20.6
4.0
6.1
28.4
16.6
4.3
16.7
13.0

1,580.9
2,942.4
340.8
2,103.1
725.8
918.9
324.5

1,138.3
382.5
71.6
309.2
228.6
102.0
105.5
2,337.6

0.96
0.59
0.52
0.21
0.77
0.75
0.80

0.7
0.2
0.4
0.7
0.4
0.1
0.4
0.4

(146.0)
(562.3)
(234.7)
(118.9)
(196.5)
(1,053.1)
(74.0)
(254.5)

(109.1)
(162.9)
(94.2)
(83.2)
(80.4)
(156.8)
(28.8)
(119.5)

1.915
0.671
0.36
0.47
1.51
0.42
0.81

382

0.535 15,354
0.095 18,886
0.18
127
0.14 5,109
0.29 1,970
0.09 5,125
0.23
577

S i n g a p o r e

C o r p o r a t e

S ep t em be r 2 0 1 5

G u i d e

Corporate Statistics
Price
31 Aug 15
(S$)

Last
Year
End

2014
(S$m)

Net Profit
2015F
(S$m)

EPS
2016F 2014 2015F 2016F
(S$m) (cents) (cents) (cents)

Company

Ticker

Rec

PLANTATION
Bumitama
FirstRes
GoldenAgri
IndoAgri
KencanaAgri
Wilmar
Sector

BAL SP
FR SP
GGR SP
IFAR SP
KAGR SP
WIL SP

BUY
0.75
BUY
1.525
BUY
0.315
HOLD
0.48
SELL 0.13
BUY
2.85

12/14
12/14
12/14
12/14
12/14
12/14

123.0
219.7
143.9
80.9
9.2
1,464.9
2,041.6

107.0 149.0
189.5 256.9
329.0 418.2
97.1
105.1
3.7
9.5
1,815.8 1,981.4
2,542.1 2,920.1

PROPERTY
CapitaLand
City Devt
GuocoLand
Ho Bee Land
OUE
Wheelock @
Wing Tai
Sector

CAPL SP
CIT SP
GUOL SP
HOBEE SP
OUE SP
WP SP
WINGT SP

BUY
BUY
BUY
BUY
BUY
NR
BUY

2.82
8.79
1.93
1.995
1.805
1.51
1.645

12/14
12/14
6/15
12/14
12/14
12/14
6/15

1,160.8
769.6
304.2
315.0
1,094.0
43.1
254.4
3,941.2

719.8
621.0
226.4
68.0
88.4
76.1
150.3
1,949.9

SHIPPING
NOL
Sector

NOL SP

BUY

0.825

12/14

(329.2)
(329.2)

(42.0)
(42.0)

SHIPYARD
COSCO Corp
Keppel Corp
Sembcorp Ind
Sembcorp Marine
Yangzijiang
Sector

COS SP
KEP SP
SCI SP
SMM SP
YZJSGD SP

SELL
HOLD
BUY
HOLD
HOLD

0.375
6.84
3.42
2.39
1.1

12/14
12/14
12/14
12/14
12/14

SUPPLY CHAIN
Noble Group
NOBL SP
Olam
OLAM SP
Sector

HOLD
BUY

0.545
2.07

TECHNOLOGY
Venture Corp
VMS SP
Sector

BUY

8.01

2014
(x)

PE
DPS
2015F 2016F 2014 2015F
(x)
(x) (cents) (cents)

Yield
Hist
Net
2014 2015F CFPS Margin ROA
(%)
(%)
(S$)
(%)
(%)

7.0
13.9
1.1
5.7
0.8
22.9
8.1

6.1
12.0
2.6
6.8
0.3
28.4
10.1

8.5
16.2
3.3
7.4
0.8
30.9
11.6

10.7
11.0
28.1
8.4
16.3
12.4
13.2

12.3
12.7
12.3
7.1
40.6
10.0
10.6

8.8
9.4
9.7
6.5
15.7
9.2
9.2

2.8
3.6
0.6
0.4
0.0
7.5

1.4
3.6
1.1
0.5
0.3
7.5

3.7
2.3
1.9
0.8
0.0
2.6
2.5

1.8
2.4
3.5
1.1
2.2
2.6
2.7

0.08
0.16
0.03
0.12
0.02
0.36

20.0
28.2
1.5
5.1
4.1
2.7
3.0

9.3
9.0
0.8
2.0
1.4
2.5
2.4

766.9
733.1
125.2
77.6
96.9
99.1
132.8
2,031.7

27.3
83.2
26.5
47.2
120.2
3.6
32.4
39.9

15.2
68.3
19.5
10.2
9.0
6.4
19.2
18.7

16.2
80.6
11.3
11.6
9.9
8.3
16.7
19.5

10.3
10.6
7.3
4.2
1.5
41.9
5.1
7.3

18.6
12.9
9.9
19.6
20.0
23.7
8.6
14.7

17.5
10.9
17.1
17.2
18.3
18.2
9.8
14.1

9.0
16.0
5.0
5.0
2.0
6.0
6.0

8.0
16.0
5.0
3.0
4.0
6.0
3.0

3.2
1.8
2.6
2.5
1.1
4.0
3.6
2.7

2.8
1.8
2.6
1.5
2.2
4.0
1.8
2.5

0.28 29.6
1.07 20.4
0.20 19.5
0.89 316.3
1.22 262.7
0.05 43.6
0.21 22.2
37.1

53.8
53.8

(12.7)
(12.7)

(1.6)
(1.6)

2.1
2.1

n.a.
n.a.

n.a.
n.a.

39.7
39.9

0.0

0.0

0.0
0.0

0.0
0.0

0.06

20.9
1,884.8
801.1
560.1
716.1
3,983.0

(10.0)
5.3
0.9
1,440.0 1,353.0 103.8
736.0 748.0 44.3
445.0
450.0
26.8
711.7 630.7 18.7
3,322.7 3,187.0
33.8

(0.4)
79.2
41.1
21.3
18.6
28.2

0.2
74.4
41.8
21.5
16.5
27.1

40.3
6.6
7.7
8.9
5.9
7.2

n.a.
8.6
8.3
11.2
5.9
8.6

159.0
9.2
8.2
11.1
6.7
9.0

0.5
48.0
16.0
13.0
5.5

0.0
47.1
14.4
10.6
5.6

1.3
7.0
4.7
5.4
5.0
5.8

0.0
6.9
4.2
4.5
5.1
5.4

12/14
12/14

167.3
591.0
758.3

530.7
611.6
2.0
376.0 411.6 23.9
906.7 1,023.2
8.5

8.1
11.9
9.4

9.4
13.0
10.6

27.0
8.7
11.6

6.7
17.4
9.7

5.8
15.9
8.6

5.2
7.5

2.9
5.0

9.5
3.6
6.1

12/14

139.8
139.8

149.8
149.8

54.6
54.6

59.6
59.6

15.7
15.8

14.7
14.8

13.4
13.5

50.0

50.0

6.2
6.2

163.4
163.4

50.9
50.9

ROE
(%)

No of
shares
(m)

Market
Cap.
(S$m)

Book Price/ Net Cash/(Debt) to


NTA ps NTA ps Mkt Cap Equity
(S$)
(x)
(%)
(%)

Avg Daily
52-Wk Price Turnover
High Low 52-Wk
(S$)
(S$)
('000)

19.6 1,757.5
16.5 1,584.1
1.3 12,837.6
5.5 1,447.8
4.2 1,148.0
7.4 6,403.4
5.9

1,318.1
2,415.7
4,043.8
694.9
149.2
18,249.7
26,871.6

0.36
0.79
0.91
0.81
0.18
2.32

2.1
1.9
0.3
0.6
0.7
1.2
0.9

(40.6)
(13.3)
(92.2)
(119.3)
(195.8)
(114.2)
(98.8)

(81.9)
(23.8)
(31.7)
(57.0)
(140.1)
(100.6)
(73.4)

1.15
2.19
0.525
0.9
0.24
3.42

0.685
463
1.435 1,936
0.28 30,913
0.44 1,082
0.13
134
2.7 5,644

2.6
4.1
2.5
9.4
16.7
1.1
3.1
4.1

7.1
9.5
8.1
12.8
32.4
1.4
4.9
9.6

4,274.3
909.3
1,183.4
703.3
981.6
1,196.6
793.9

12,053.5
7,992.8
2,283.9
1,403.2
1,771.8
1,806.8
1,306.0
28,617.9

3.93
9.36
2.48
3.70
4.30
2.62
4.00

0.7
0.9
0.8
0.5
0.4
0.6
0.4
0.7

(105.6)
(36.8)
(202.2)
(68.5)
(112.1)
(22.9)
(23.8)
(83.7)

(73.8)
(34.6)
(157.2)
(36.9)
(50.8)
(13.2)
(9.8)2.14
(57.7)

3.79
10.95
2.45
2.38
2.33
1.99
1.56

(3.0)
(3.0)

(2.8)
(2.8)

(13.3)
(13.3)

2,602.9

2,147.4
2,147.4

1.30

0.6
0.6

(172.0)
(172.0)

(103.6)
(103.6)

1.2

0.735

6,681

0.08
1.18
0.61
0.32
0.21

0.5
14.2
7.4
9.6
22.7
10.6

0.2
6.1
5.2
7.2
8.1
5.5

1.5
18.8
15.3
19.9
17.8
17.0

2,239.2
1,817.9
1,787.5
2,089.8
3,837.1

839.7
12,434.5
6,113.4
4,994.5
4,220.8
28,602.9

0.61
5.90
2.92
1.44
1.20

0.6
1.2
1.2
1.7
0.9
1.1

(494.5)
(40.6)
(67.4)
(33.1)
(21.0)
(55.5)

(302.1)
(46.6)
(72.9)
(54.3)
(19.3)
(62.2)

0.735
10.99
5.26
3.98
1.525

0.355
6.32
3
2.1
1.01

2,492
5,570
3,551
3,455
9,771

5.3
2.4
3.6

0.00
0.32

0.2
3.0
0.6

0.7
3.7
1.8

2.5
16.7
7.5

6,739.5
2,492.9

3,673.0
5,160.3
8,833.3

0.89
1.27

0.6
1.6
1.0

(158.8)
(155.4)
(156.8)

(90.3)
(205.7)
(133.7)

1.43
2.69

6.2
6.2

0.66

5.7
5.7

5.6
5.6

7.6
7.6

276.3

2,213.1
2,213.1

4.17

1.9
1.9

7.0
7.0

8.5 8.67
8.5

7.32

2.75 10,537
8.35 1,145
1.71
164
1.91
263
1.68
463
1.47
194
1,521

0.405 43,240
1.68 1,349

449

S i n g a p o r e

C o r p o r a t e

S ep t em be r 2 0 1 5

G u i d e

Corporate Statistics
Company

Ticker

TELECOMS
M1
SingTel
StarHub
Sector

M1 SP
ST SP
STH SP

HOLD
BUY
HOLD

OTHERS
Genting HK US$
Genting SP
HPH Trust US$
SingPost
SuperGroup
Sector

GENHK SP
GENS SP
HPHT SP
SPOST SP
SUPER SP

HOLD
BUY
BUY
BUY
HOLD

OVERALL

Rec

Price
31 Aug 15
(S$)
2.94
3.74
3.66

0.31
0.77
0.525
1.78
0.79

Last
Year
End
12/14
3/15
12/14

2014
(S$m)
175.8
3,781.5
370.5
4,327.8

12/14
487.1
12/14
517.3
12/14 (2,808.7)
3/15
157.6
12/14
68.8
(1,577.9)

Net Profit
2015F
(S$m)

EPS
2016F 2014 2015F 2016F
(S$m) (cents) (cents) (cents)

172.4
173.4
18.9
3,750.0 7 4,026.1 7 23.7
319.9 347.4 21.5
4,242.3 4,546.9
23.3
214.7
245.5
484.4 637.5
318.4
335.9
174.2
197.6
49.5 55.4
1,241.3 1,471.8

29,694.8 31,285.3 33,905.8

2014
(x)

PE
DPS
2015F 2016F 2014 2015F
(x)
(x) (cents) (cents)

Yield
Hist
Net
2014 2015F CFPS Margin ROA
(%)
(%)
(S$)
(%)
(%)

18.4
23.5
18.5
22.8

18.5
25.2
20.0
24.4

15.5
15.8
17.0
15.9

16.0
15.9
19.8
16.2

15.9
14.8
18.3
15.1

18.9
17.5
20.0

14.7
17.9
20.0

6.4
4.7
5.5
4.8

5.0
4.8
5.5
4.8

6.1
4.2
(32.2)
6.8
6.2
(4.9)

2.7
4.0
3.7
8.4
4.4
3.9

3.0
5.2
3.9
9.5
5.0
4.6

7.2
18.2
n.a.
26.0
12.8
n.a.

16.3
19.4
20.3
21.3
17.8
19.5

14.4
14.8
19.2
18.8
15.9
16.4

1.4
1.0
7.5
6.3
3.1

1.4
1.0
7.7
6.3
2.7

3.2
1.3
10.1
3.5
3.9
4.4

16.9

17.3

18.7

14.0

13.3

12.2

4.1

0.31
0.37
0.32

ROE
(%)

No of
shares
(m)

Market
Cap.
(S$m)

Book Price/ Net Cash/(Debt) to


NTA ps NTA ps Mkt Cap Equity
(S$)
(x)
(%)
(%)

Avg Daily
52-Wk Price Turnover
High Low 52-Wk
(S$)
(S$)
('000)

16.3
22.0
15.5
20.9

17.5
9.3
19.1
9.9

44.5
937.0
15.6 15,943.5
285.4 1,729.8
17.4

2,754.7
59,628.7
6,331.0
68,714.4

0.30
0.84
(0.14)

9.9
4.4
n.a.
5.1

(11.3)
(12.2)
(8.4)
(11.8)

(80.0)
(28.8)
(343.6)
(31.4)

3.99
4.57
4.46

2.800 1,353
3.630 20,428
3.420 1,865

3.2
1.3
10.3
3.5
3.4
4.4

0.07 67.4
0.07 18.1
n.a. (136.2)
0.10 17.1
0.08 12.7
(22.2)

9.7
4.0
(13.3)
8.0
11.2
(3.8)

12.3 8,482.5
7.0 12,084.8
(30.9) 8,711.1
12.2 2,151.9
14.3 1,115.5
(7.1)

3,712.4
9,305.3
6,456.6
3,830.4
881.2
24,186.0

0.86
0.59
0.41
0.40
0.45

0.5
1.3
1.8
4.5
1.8
1.2

28.8
29.9
(69.5)
8.6
8.0
(1.0)

14.5
38.5
(59.9)
28.4
14.1
(1.0)

0.41
1.24
0.74
2.16
1.54

0.3 3,127
0.725 22,665
0.51 16,730
1.7 5,428
0.745 1,554

4.0

9.0

1.8

1.4

(28.3)

(33.8)

9.1

414,903.8

S i n g a p o r e

C o r p o r a t e

S ep t em be r 2 0 1 5

G u i d e

Corporate Statistics
Avg Daily

Company

Ticker

REITs
Ascendasreit
AscottREIT
CACHE
CapitaCom Trust
CapitaMall Trust
CDL Htrust
FrasersCT
Frasers HTrust
Kep REIT
MapletreeInd
MapletreeLog
PLife REIT
Sabana REIT
Starhill Gbl
Suntec REIT
Sector

AREIT SP
ART SP
CACHE SP
CCT SP
CT SP
CDREIT SP
FCT SP
FHT SP
KREIT SP
MINT SP
MLT SP
PREIT SP
SSREIT SP
SGREIT SP
SUN SP

Rec

BUY
BUY
BUY
BUY
HOLD
BUY
HOLD
BUY
BUY
HOLD
BUY
HOLD
BUY
BUY
BUY

Price
31 Aug 15
(S$)

Last
Year
End

Net Profit
2014
2015F
(S$m)
(S$m)

2016F
(S$m)

2.23
1.25
1.01
1.33
1.92
1.32
1.945
0.745
0.98
1.535
0.98
2.28
0.775
0.77
1.53

3/15
12/14
12/14
12/14
12/14
12/14
9/14
9/13
12/14
3/15
3/15
12/14
12/14
6/15
12/14

259.2
74.2
56.8
228.6
374.9
104.8
90.2
52.9
147.3
176.9
172.4
62.3
39.1
108.3
149.3
2,097.2

381.3
107.0
65.8
305.7
380.4
106.4
101.4
60.8
184.8
179.9
182.2
72.9
50.4
124.6
208.8
2,512.4

365.5
104.1
61.2
281.6
374.4
100.5
101.0
56.6
162.4
176.6
179.6
71.9
46.8
109.9
176.0
2,367.9

2014
(cents)

EPU
2015F
(cents)

2016F
(cents)

2014
(cents)

10.8
4.9
7.3
7.8
10.8
10.7
10.5
4.4
5.2
10.3
7.0
10.3
5.6
5.0
6.0
7.7

15.2
6.8
7.8
9.2
10.8
10.2
11.0
4.7
5.1
9.9
7.3
11.9
6.3
5.1
7.0
8.5

15.8
7.0
8.3
9.8
11.0
10.7
11.0
5.1
5.7
9.8
7.3
12.0
6.1
5.7
8.2
8.9

14.6
8.2
8.6
8.5
10.8
11.0
11.2
6.1
7.2
10.4
7.5
11.5
7.3
5.1
9.3

DPU
2015F 2016F
(cents) (cents)
15.5
9.0
8.7
8.6
11.0
10.2
11.5
6.2
7.0
10.2
7.6
12.1
7.3
5.1
10.0

16.1
9.4
9.3
9.3
11.2
10.6
11.6
6.6
7.2
10.1
7.7
12.3
7.1
5.2
10.7

2014
(%)
6.5
6.6
8.5
6.4
5.6
8.3
5.8
8.2
7.4
6.8
7.7
5.1
9.5
6.6
6.1
6.6

Yield
Debt to
2015F 2016F Asset ROA
(%)
(%)
(%)
(%)
6.9
7.2
8.6
6.5
5.7
7.7
5.9
8.3
7.1
6.7
7.8
5.3
9.5
6.6
6.5
6.7

7.2
7.5
9.2
7.0
5.8
8.1
5.9
8.8
7.4
6.6
7.8
5.4
9.2
6.8
7.0
6.9

34.4
35.1
37.6
29.5
34.2
31.9
28.7
38.5
36.8
30.0
34.2
33.9
37.4
35.4
35.3
33.9

3.3
1.9
5.1
3.6
3.9
4.4
3.9
2.9
2.09
5.2
3.8
3.9
3.1
3.6
1.8
3.3

ROE
(%)
5.3
3.5
7.4
4.5
6.1
6.5
5.7
5.1
3.5
8.2
7.0
6.2
5.1
5.5
2.9
5.1

No of
shares
(m)

Market
Cap.
(S$m)

2,407.7
1,543.2
784.1
2,950.6
3,464.3
985.2
916.8
1,357.4
3,200.5
1,761.1
2,478.4
605.0
730.7
2,181.2
2,515.6

5,369.3
1,928.9
792.0
3,924.2
6,651.4
1,300.5
1,783.3
1,011.2
3,136.5
2,703.2
2,428.8
1,379.4
566.3
1,679.5
3,848.8
38,503.5

Book Price/
Net Cash/(Debt) to
52-Wk Price Turnover
NTA ps NTA ps Mkt Cap Equity High Low 52-Wk
(S$)
(x)
(%)
(%)
(S$)
(S$)
('000)
2.05
1.32
0.97
1.76
1.84
1.62
1.85
0.84
1.4
1.32
1.01
1.71
1.06
0.90
2.10

1.1
1.0
1.0
0.8
1.0
0.8
1.1
0.9
0.7
1.2
1.0
1.3
0.7
0.9
0.7
0.9

(51.5)
(47.4)
(57.8)
(55.4)
(41.5)
(55.3)
(39.1)
(60.1)
(107.06)
(36.4)
(62.2)
(38.7)
(82.5)
(64.2)
(75.2)
(56.9)

(56.2)
(55.2)
(60.0)
(41.8)
(43.4)
(45.0)
(41.1)
(59.5)
(75.5)
(42.2)
(60.4)
(51.6)
(60.4)
(54.4)
(54.8)
(52.7)

2.71
1.32
1.205
1.935
2.28
1.815
2.15
0.92
1.3
1.64
1.26
2.46
1.025
0.89
2.01

2.14
1.09
0.94
1.225
1.845
1.215
1.835
0.68
0.9
1.35
0.925
2.18
0.71
0.695
1.425

9,296
1,494
1,570
9,060
9,196
1,360
1,255
527
5456.8
2,985
3,626
503
914
2,448
8,357

Note:
If year end is before June, earnings are shown in the previous period
@ Consensus forecast

S i n g a p o r e

C o r p o r a t e

S ep t em be r 2 0 1 5

G u i d e

Economics
2013

2014

2015F

2016F

3Q14

4Q14

1Q15

2Q15

Apr-15

May-15

Jun-15

Jul-15

GDP by Sector (Real) (yoy % chg)


Total GDP
Goods Producing Industries
Manufacturing
Construction
Services Producing Industries
Wholesale & Retail Trade
Transport & Storage
Accommodation & Food Services
Information & Communications
Financial Services
Business Services

4.4
2.5
1.7
6.3
6.1
6.7
3.5
3.3
7.6
12.2
4.9

2.9
2.7
2.6
3.0
3.2
1.7
1.7
1.1
3.6
7.7
2.9

2.5
(0.2)
(0.9)
2.5
3.3
4.3
0.1
(0.0)
4.6
6.0
2.6

2.9
2.7
2.6
3.0
2.9
2.2
2.2
1.9
4.8
4.1
3.3

2.8
1.6
1.7
1.1
3.3
2.1
0.1
1.0
4.0
9.9
2.6

2.1
(0.8)
(1.3)
0.7
3.1
0.6
(0.4)
1.3
4.4
10.3
2.9

2.8
(1.5)
(2.4)
1.1
4.2
5.3
1.4
(0.1)
4.9
7.8
3.2

1.8
(3.2)
(4.9)
2.5
3.4
5.0
(0.9)
(0.6)
4.5
7.1
2.0

n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.

n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.

n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.

n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.

Trade Figures (Nominal) (yoy % chg)


Total Exports
Total Imports
Non-oil Domestic Exports

0.8
(1.4)
(5.6)

1.3
(0.4)
(0.5)

2.5
1.5
(1.0)

2.0
2.0
2.1

(1.4)
(5.8)
1.2

(3.6)
(5.9)
0.5

(5.7)
(16.2)
4.3

(8.6)
(12.8)
2.1

(9.4)
(14.3)
2.2

(10.1)
(19.6)
(0.3)

(6.2)
(4.5)
4.5

(4.0)
(9.2)
(0.8)

Monetary Data (End of period)


Loans Growth (yoy % chg)
M1 (yoy % chg)
M2 (yoy % chg)
Prime Lending Rate (%)
3mth Interbank Rate (%)
Exchange Rates (S$/US$)
Foreign Reserves (S$b)

17.7
14.8
7.8
5.38
0.40
1.26
343.8

11.5
4.2
1.9
5.35
0.46
1.32
337.8

6.3
4.5
1.9
5.38
1.30
1.44
342.4

6.6
4.0
2.5
5.38
2.07
1.38
361.2

11.1
1.9
1.7
5.38
0.41
1.26
336.4

7.4
4.1
2.6
5.35
0.46
1.32
337.8

3.3
1.8
3.3
5.35
1.01
1.38
342.1

1.5
2.4
3.5
5.35
0.82
1.35
340.8

0.5
1.2
4.5
5.35
0.89
1.3482
339.6

(0.1)
0.8
4.9
5.35
0.83
1.3344
333.9

1.5
2.4
3.5
5.35
0.82
1.3455
340.8

2.2
2.0
2.6
5.35
0.88
1.3616
340.6

Other Macro Variables (yoy % chg)


Industrial Production Index (2011=100)
Retail Sales Index (Current)
Visitor Arrivals
Inflation (2009=100)
Unemployment Rate sa (%) (end of period)
Changes in Employment

1.8
(5.1)
7.5
2.4
1.9
136.3

2.9
0.4
(3.0)
1.0
1.9
130.1

(1.0)
2.5
(1.0)
(0.3)
2.1
105.4

2.6
2.8
1.0
0.8
2.1
123.1

1.8
3.0
(5.2)
1.0
1.9
33.4

(1.1)
6.1
(1.3)
(0.0)
1.9
40.7

(2.4)
2.9
(6.1)
(0.3)
1.8
(6.1)

(4.9)
5.9
(0.5)
(0.4)
2.0
15.7

(8.8)
4.9
(2.9)
(0.5)
n.a.
n.a.

(1.8)
5.9
1.2
(0.4)
n.a.
n.a.

(4.0)
6.9
0.2
(0.3)
n.a.
n.a.

(6.1)
n.a.
n.a.
(0.4)
n.a.
n.a.

Source: CEIC, UOB-GEMR

S i n g a p o r e

C o r p o r a t e

S ep t em be r 2 0 1 5

G u i d e

Ranking By Market Parameters


Forward

Highest P/NTA (x) *

Hist.

Highest Dividend
Yield (%) *

Hist.

Highest 90 days Volatility (%) #

159.0
39.8
38.2
31.4
29.1
25.4
20.7
19.2
18.9
18.8

StarHub
SGX
DTAC 200US$
AusNet Services
M1
Dairy Farm 900 US$
Golden Energy
Silverlake
Sheng Siong
ARA

40.8
8.0
7.6
7.3
7.1
6.7
6.4
5.5
5.4
5.0

Asian Pay TV Tr
HPH Trust US$
CDL HTrust
MapletreeLog
Silverlake
Kep REIT
Kep Corp
CapitaRChina
Kep Infra Tr
MapletreeGCC

10.1
10.1
8.3
7.7
7.5
7.4
7.0
7.0
6.9
6.9

Noble Grp
Triyards
Ezra
EzionHldg
Pac Radiance
Nam Cheong
Swiber
NOL
TigerAir
FirstRes

Lowest PE (x) #

Forward

Lowest P/NTA (x) *

Hist.

Lowest Dividend
Yield (%) *

Hist.

Lowest 90 days Volatility (%) #

Triyards
Swiber
Pacific Radiance
Ezion
Noble Group
Ezra
IndoAgri
Nam Cheong
Yangzijiang
Sembcorp Ind

1.9
2.9
3.3
3.4
5.8
6.5
6.5
6.7
6.7
8.2

Highest PE (x) #
COSCO Corp
NOL
IHH
Raffles Medical
SIA Engg
SIA
SPH
HPH Trust US$
PLife REIT
SingPost

GoldenAgri
Wing Tai
OUE Ltd
Yuexiu Prop 2k
Yanlord
Genting HK US$
Ho Bee Land
Noble Grp
Perennial Hldgs
Wheelock

0.3
0.4
0.4
0.4
0.5
0.5
0.5
0.6
0.6
0.6

Citic Envirotech
IHH
BukitSem
Sinarmas
CITYDEV
UIC
JSH 500US$
Oxley
Fragrance
HPL

0.3
0.5
0.8
0.9
0.9
0.9
0.9
1.0
1.0
1.1

SPH
StarHub
CACHE
SuntecReit
Ho Bee
CapitaComm
SingPost
K-REIT
AscottREIT
MapletreeInd

Highest Market Cap (S$m) *


81.4
66.8
61.8
54.7
48.1
47.5
43.6
40.8
38.2
38.1

SingTel
PRU 500 US$
JMH 400US$
JSH 500US$
DBS
OCBC Bk
UOB
HKLand US$
Wilmar
THBEV

59,628.7
56,049.3
49,158.5
45,051.0
44,636.7
36,213.0
31,289.9
22,938.9
18,249.7
17,828.1

Lowest Market Cap (S$m) *


12.1
15.6
16.5
17.6
17.8
18.0
18.3
18.8
18.9
18.9

Pac Cent
Oxley
Asian Pay TV Tr
CapitaRChina
Biosensors
ARA
CWT
BukitSem
UE
Fragrance

1,162.5
1,164.6
1,171.0
1,184.5
1,210.5
1,217.0
1,224.6
1,227.2
1,248.8
1,283.5

# Based on UOB Kay Hians universe


* Based on top 100 companies by market cap
Source: Bloomberg, UOB Kay Hian

S i n g a p o r e

C o r p o r a t e

S ep t em be r 2 0 1 5

G u i d e

Performance At A Glance*
Company

---------- Price (S$) ---------31/08/15


31/07/15

--------------------- % Change --------------------mom


yoy
ytd

AVIATION
SIA
SIA Engg
SATS
ST Engrg
Tigerair
Sector

10.74
3.61
3.76
3.28
0.30

9.92
3.50
3.56
3.07
0.27

(7.6)
(3.0)
(5.3)
(6.4)
(10.0)
(6.4)

(1.8)
(23.6)
17.5
(16.1)
(21.5)
(8.7)

(14.5)
(17.1)
16.7
(9.7)
1.9
(9.8)

FINANCE
ARA
DBS
OCBC
S'pore Exchange @
UOB@
Sector

1.705
20.18
10.29
7.97
22.20

1.44
17.76
8.93
7.26
19.38

(15.5)
(12.0)
(13.2)
(8.9)
(12.7)
(12.4)

(19.1)
(0.9)
(10.7)
(0.3)
(15.5)
(8.2)

(15.3)
(13.8)
(14.6)
(7.0)
(21.0)
(15.6)

2.13
4.79

1.93
4.37

(9.4)
(8.8)
(9.3)

0.0
9.8
1.2

4.9
12.3
5.8

3.01
1.385

2.81
1.22

(6.6)
(11.9)
(7.9)

12.0
(22.0)
1.5

8.1
(22.8)
(1.2)

4.18

3.94

(5.7)
(5.7)

(5.1)
(5.1)

(6.4)
(6.4)

0.865
0.134
0.23
0.23
0.405
0.149

0.72
0.13
0.21
0.147
0.315
0.111

(16.8)
(3.0)
(8.7)
(36.1)
(22.2)
(25.5)

(60.7)
(80.0)
(39.1)
(68.4)
(65.0)
(73.1)

(35.7)
(59.0)
(23.6)
(53.3)
(60.1)
(51.1)

HEALTHCARE
IHH
Raffles Medical
Sector
LAND TRANSPORT
ComfortDelGro
SMRT
Sector
MEDIA
SPH
Sector
OIL SERVICES
Ezion
Ezra
Marco Polo @
Nam Cheong
Pacific Radiance
Swiber

Company
Triyards
Sector

---------- Price (S$) ---------31/07/15


31/08/15

--------------------- % % Change --------------------mom


yoy
ytd

0.405

0.325

(19.8)
(19.0)

(58.1)
(67.5)

(36.3)
(47.0)

PLANTATION
Bumitama
FirstRes
GoldenAgri
IndoAgri
KencanaAgri
Wilmar
Sector

0.925
1.90
0.315
0.585
0.19
3.20

0.75
1.525
0.315
0.48
0.13
2.85

(18.9)
(19.7)
0.0
(17.9)
(31.6)
(10.9)
(10.7)

(33.0)
(24.5)
(38.2)
(44.5)
(40.9)
(9.8)
(18.8)

(28.2)
(18.4)
(31.5)
(33.8)
(35.0)
(12.0)
(17.3)

PROPERTY
CapitaLand
City Devt
GuocoLand
Ho Bee Land
OUE
Wheelock @
Wing Tai
Sector

3.22
9.33
2.29
2.01
1.935
1.735
1.885

2.82
8.79
1.93
1.995
1.805
1.51
1.645

(12.4)
(5.8)
(15.7)
(0.7)
(6.7)
(13.0)
(12.7)
(10.1)

(15.1)
(12.4)
(8.5)
(8.9)
(21.5)
(22.6)
(12.0)
(14.4)

(14.8)
(14.4)
8.4
2.3
(11.5)
(14.2)
0.6
(11.6)

2.42
1.25
1.08
1.425
2.00
1.56
2.06
0.82
1.075
1.525
1.11
2.43
0.825
0.87

2.23
1.25
1.01
1.33
1.92
1.32
1.945
0.745
0.98
1.535
0.98
2.28
0.775
0.77

(7.9)
0.0
(6.5)
(6.7)
(4.0)
(15.4)
(5.6)
(9.1)
(8.8)
0.7
(11.7)
(6.2)
(6.1)
(11.5)

(5.1)
1.2
(13.7)
(21.8)
(4.0)
(20.0)
(2.8)
(15.3)
(21.6)
6.6
(16.6)
(3.0)
(22.9)
(5.5)

(6.3)
(1.6)
(12.9)
(24.2)
(5.9)
(24.1)
2.6
(15.3)
(19.7)
3.4
(17.3)
(4.2)
(17.6)
(3.8)

REITS
Ascendasreit
AscottREIT
CACHE
CapitaComm
CapitaMall
CDL Htrust
FrasersCT
Frasers HTrust
Kep REIT
MapletreeInd
MapletreeLog
PLife REIT
Sabana REIT
Starhill Gbl

S i n g a p o r e

C o r p o r a t e

S ep t em be r 2 0 1 5

G u i d e

Performance At A Glance*
Company
Suntec REIT
Sector
SHIPPING
NOL
Sector
SHIPYARD
COSCO Corp

----------Price (S$)---------31/08/15
31/07/15
1.705

1.53

0.93

0.825

--------------------- % Change --------------------mom


yoy
ytd

Company

(10.3)
(7.0)

(16.2)
(10.6)

(21.9)
(12.0)

(11.3)
(11.3)

(17.9)
(17.9)

(1.8)
(1.8)

OTHERS
Genting HK US$
Genting SP
HPH Trust US$
SingPost
SuperGroup
Sector

0.39

0.375

(3.8)

(48.3)

(33.0)

7.50
3.57
2.61
1.29

6.84
3.42
2.39
1.10

(8.8)
(4.2)
(8.4)
(14.7)
(8.6)

(37.2)
(33.2)
(39.6)
(5.6)
(34.0)

(22.7)
(23.1)
(26.7)
(8.7)
(22.1)

SUPPLY CHAIN
Noble Group
Olam
Sector

0.455
1.84

0.545
2.07

19.8
12.5
15.4

(59.9)
(21.9)
(44.0)

(52.2)
2.5
(30.5)

TECHNOLOGY
Venture Corp
Sector

7.85

8.01

2.0
2.0

(0.2)
(0.2)

1.8
1.8

TELECOMS
M1
S Telecoms
StarHub
Sector

3.13
4.09
3.83

2.94
3.74
3.66

(6.1)
(8.6)
(4.4)
(8.1)

(22.6)
(3.9)
(11.8)
(5.6)

(18.6)
(4.1)
(11.8)
(5.5)

Keppel Corp
Sembcorp Ind
Sembcorp Marine
Yangzijiang
Sector

OVERALL

---------- Price (S$) ---------31/07/15


31/08/15
0.34
0.88
0.60
1.955
1.005

0.31
0.77
0.525
1.78
0.79

--------------------- % % Change --------------------mom


yoy
ytd
(8.8)
(12.5)
(12.5)
(9.0)
(21.4)
(11.9)

(17.3)
(36.9)
(27.1)
3.2
(41.3)
(27.8)

(11.4)
(28.7)
(23.9)
(7.3)
(31.0)
(22.7)

(9.5)

(14.6)

(13.8)

10

S i n g a p o r e

C o r p o r a t e

S ep t em be r 2 0 1 5

G u i d e

Performance At A Glance*
Aviation

Finance

(31Dec14=100)
110
Aviation

105

Healthcare
(31Dec14=100)
120

(31Dec14=100)
110
FSSTI

105

115

Healthcare

110

100

100

FSSTI

95

105

95

90

90

85

85

100

Finance

FSSTI

95
90

80

85
80

80
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Jan

Feb

Mar

Apr

Land Transport

May

Jun

Jul

Aug

105

110

100

105

Media

95

100
95

90
FSSTI

90

85

85

80

80
Feb

Mar

Apr

May

Jun

Mar

Jul

Aug

Jan

Feb

Mar

Apr

May

Apr

May

Jun

Jul

Aug

Oil Services

FSSTI

Land Transport

Jan

Feb

Media
(31Dec14=100)
110

(31Dec14=100)
120
115

Jan

Jun

Jul

Aug

(31Dec14=100)
110
105
100
95
90
85
80
75
70
65
60
55
50
45
Jan
Feb

FSSTI

Oil Services

Mar

Apr

May

Jun

Jul

Aug

11

S i n g a p o r e

C o r p o r a t e

S ep t em be r 2 0 1 5

G u i d e

Performance At A Glance*
Plantation

Property
(31Dec14=100)
115

(31Dec14=100)
110
FSSTI

105

105

95

100

Plantation

90

95

85

90

80

85

75
Feb

Mar

Property

Apr

May

Jun

Jul

Aug

100

90
85
80

80
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Jan

Feb

Mar

Shipyard

105

FSSTI

100
95
Shipyard

90
85
80
75

Jun

Jul

Aug

Jan

Feb

Mar

Apr

May

Apr

May

Jun

Jul

Aug

Supply Chain

110

May

FSSTI

95

FSSTI

(31Dec14=100)

Apr

REITs

105

Shipping
(31Dec14=100)
140
135
130
Shipping
125
120
115
110
105
100
FSSTI
95
90
85
80
Jan
Feb
Mar

(31Dec14=100)
110

110

100

Jan

REITs

Jun

Jul

Aug

(31Dec14=100)
110
105
100
95
90
85
80
75
70
65
60
55
Jan
Feb

FSSTI

Supply Chain

Mar

Apr

May

Jun

Jul

Aug

12

S i n g a p o r e

C o r p o r a t e

S ep t em be r 2 0 1 5

G u i d e

Performance At A Glance*
Technology

Others

Telecoms
(31Dec14=100)
110

(31Dec14=100)
120

(31Dec14=100)
110
105

Technology

100

115

105
Telecoms

110
105

95

95

100

FSSTI

FSSTI

90

95

90

80

85
80

80
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Others

85

90
85

FSSTI

100

75
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

* Based on UOB Kay Hians universe

13

S i n g a p o r e

C o r p o r a t e

S ep t em be r 2 0 1 5

G u i d e

Diary Of Events
Sunday

Monday

37

Tuesday

Wednesday

Thursday

Friday

Saturday

52

10

11

12

Polling Day

13

14

15
Jul 15 Retail Sales

16

17

18

19

Aug 15 Trade Figures

14

S i n g a p o r e

C o r p o r a t e

S ep t em be r 2 0 1 5

G u i d e

Diary Of Events
Sunday
20

Monday
21

Tuesday
22

Wednesday
23

Thursday
24

Friday
25

Aug 15 CPI

Saturday
26

Aug 15 IPI

Hari Raya Aidil Adha

27

28

29

30
Aug 15 Money Supply

* Confirmed

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