Singapore Exchange Ltd.

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Asian equities edge lower amid uncertainty over US-China trade Dec 10, 2019

See more articles on 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	SGD	USD
Revenue	909.74M	666.34M
Gross Profit	800.23M	586.13M
Operating income	461.82M	338.26M
Income before tax	472.98M	346.43M
Net income	391.09M	286.46M
EBITDA	524.08M	383.86M
Diluted EPS	0.36	0.26
Dividends Per Share	0.30	0.21
Total Assets	2,132.28M	1,576.02M
Total liabilities	1,041.43M	769.75M
Total equity	1,090.84M	806.27M
Operating cash flow	419.92M	307.57M
	Currency in SGD	Currency in USD

Historical Data

SGD | USD

	Jun 2015	Jun 2016	Jun 2017	Jun 2018	Jun 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 2015	Jun 2016	Jun 2017	Jun 2018	Jun 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
PER	21.66
ROA	18.40%
ROE	35.76%
Operating margin	50.76%
Profit margin	42.98%

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. (2.2%)
BlackRock Fund Advisors (1.8%)
Formuepleje A/S Fondsmaeglerselskab (1.3%)
AllianceBernstein LP (0.9%)
Norges Bank Investment Management (0.7%)
CPH Capital Fondsmaeglerselskab A/S (0.6%)
APG Asset Management NV (0.4%)
Robeco Institutional Asset Management BV (0.4%)

Contact Details

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

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Competitors

Last Updated on 6 Apr, 2020