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Finance

Singapore Exchange Ltd.

Company Background

Singapore Exchange (SGX) plays a key role in Asia's securities and derivatives market, offering the world's largest offshore market for Asian equities index derivatives. Its markets attract many overseas players, and approximately 40% of listed companies have their origins overseas. The company was formed in 1999 through a consolidation of three Singaporean companies that ran exchanges and clearing services, namely Stock Exchange of Singapore (SES), Singapore International Monetary Exchange (Simex) and Securities Clearing and Computer Services (SCCS). The company went public in November 2000. Over 20% of SGX shares are held by SEL Holdings, a special-purpose company wholly owned by Temasek Holdings under Singapore's regulations that restrict the exercise of votes attached to shares of financial exchange companies.

Magnus Bocker was appointed CEO in December 2009. Prior to joining SGX, he spearheaded the creation of the Nordic Exchanges Company (OMX), the world's largest provider of technology solutions for exchanges and clearing organizations. He also played a key role in OMX's merger with Nasdaq in 2008, eventually becoming president of Nasdaq OMX. Under Bocker's leadership, SGX has been diversifying its derivatives offerings. In recent years, SGX has launched Chinese yuan futures contracts as well as gold futures, the "Singapore Kilobar Gold Contract."

Business Summary

Singapore Exchange Ltd. is an investment holding company, which engages in the treasury management, provision of management and administrative services to related corporations, provision of contract processing and technology connectivity services. It operates through the following segments: Equities and Fixed Income, Derivatives, Market Data and Connectivity, and Corporate. The Equities and Fixed Income segment offers issuer services, securities trading and clearing, post trade services, membership, and collateral management. The Derivatives segment focuses on derivatives trading and clearing services, membership, and collateral management. The Market Data and Connectivity segment consists of market data and connectivity services. The Corporate segment includes corporate activities which are not allocated to the three operating segments. The company was founded on August 21, 1999 and is headquartered in Singapore.

Financial Highlights

Jun 2019 SGDUSD
Revenue909.74M666.34M
Gross Profit800.23M586.13M
Operating income461.82M338.26M
Income before tax472.98M346.43M
Net income391.09M286.46M
EBITDA524.08M383.86M
Diluted EPS0.360.26
Dividends Per Share0.300.21
Total Assets2,132.28M1,576.02M
Total liabilities1,041.43M769.75M
Total equity1,090.84M806.27M
Operating cash flow419.92M307.57M
Currency in SGDCurrency in USD

Historical Data

 Jun 2015Jun 2016Jun 2017Jun 2018Jun 2019
Revenue 784.62M 828.88M 806.44M 855.15M 909.74M
Gross Profit 530.50M 551.48M 541.32M 572.43M 800.23M
Operating income 408.00M 420.03M 412.81M 436.28M 461.82M
Income before tax 409.64M 414.84M 408.88M 437.47M 472.98M
Net income 348.61M 349.01M 339.69M 363.20M 391.09M
EBITDA 465.27M 479.88M 470.34M 496.93M 524.08M
Diluted EPS 0.32 0.32 0.31 0.33 0.36
Dividends Per Share 0.28 0.28 0.28 0.30 0.30
Total Assets 1,803.85M 2,110.56M 2,046.60M 2,118.30M 2,132.28M
Total liabilities 827.45M 1,120.98M 1,014.07M 1,022.07M 1,041.43M
Total equity 976.39M 989.58M 1,032.53M 1,096.23M 1,090.84M
Operating cash flow 431.40M 435.04M 393.27M 448.71M 419.92M
 Jun 2015Jun 2016Jun 2017Jun 2018Jun 2019
Revenue 598.54M 596.36M 579.19M 637.08M 666.34M
Gross Profit 404.69M 396.78M 388.78M 426.45M 586.13M
Operating income 311.24M 302.20M 296.48M 325.03M 338.26M
Income before tax 312.49M 298.47M 293.66M 325.91M 346.43M
Net income 265.93M 251.11M 243.97M 270.58M 286.46M
EBITDA 354.93M 345.27M 337.80M 370.21M 383.86M
Diluted EPS 0.24 0.23 0.22 0.25 0.26
Dividends Per Share 0.21 0.20 0.20 0.22 0.21
Total Assets 1,339.65M 1,568.14M 1,486.44M 1,553.58M 1,576.02M
Total liabilities 614.52M 832.89M 736.51M 749.59M 769.75M
Total equity 725.13M 735.25M 749.92M 803.98M 806.27M
Operating cash flow 329.09M 313.00M 282.45M 334.29M 307.57M

Valuation Measures

Jun 2019
PER21.66
ROA18.40%
ROE35.76%
Operating margin50.76%
Profit margin42.98%

Key executives

  • CEO & Non-Independent Executive Director: Boon Chye Loh
  • Chief Financial Officer: Lay Chew Chng
  • Chief Technology Officer & Senior MD: Tinku Gupta
  • Co-Secretary, Legal & Compliance: Kim Ming Seah
  • EVP, Head-Equities & Fixed Income: Sutat Chew

Shareholders

  • Temasek Holdings Pte Ltd. (Investment Company) (23.3%)
  • Japan Exchange Group, Inc. (3.4%)
  • The Vanguard Group, Inc. (2.1%)
  • BlackRock Fund Advisors (1.7%)
  • Norges Bank Investment Management (1.3%)
  • Formuepleje A/S Fondsmaeglerselskab (1.3%)
  • CPH Capital Fondsmaeglerselskab A/S (0.7%)
  • AllianceBernstein LP (0.6%)
  • GQG Partners LLC (0.5%)
  • Prusik Investment Management LLP (0.5%)

Contact Details

  • Website:http://www.sgx.com
  • Address: 2 Shenton Way, No. 02-02, SGX Centre 1, Singapore, 068804, Singapore
  • Phone: +65.6236.8888

Related Companies

  • Singapore Exchange Ltd. (Broker)
  • Singapore Exchange Ltd. (Illinois)
  • Sgx Bond Trading Pte Ltd.
  • Baltic Exchange Ltd.
  • Singapore Exchange
  • SGX Investment (Mauritius) Ltd.
  • Asian Gateway Investments Pte. Ltd.
  • Singapore Exchange Securities Trading Ltd.
  • Singapore Exchange Derivatives Clearing Ltd.
  • Singapore Commodity Exchange Ltd.
  • Singapore Exchange Derivatives Trading Ltd.
  • Joint Asian Derivatives Pte Ltd.
  • SGX MSCI Taiwan Index
  • Central Depository Pte Ltd.
  • Singapore Exchange IT Solutions Pte Ltd.

Competitors

    Last Updated on 6 Dec, 2019

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