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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, Fixed Income, Currencies and Commodities, Data, Connectivity & Indices and Corporate. The Fixed Income, Currencies and Commodities segment engages in Provision of fixed income issuer services, trading and clearing services and collateral management. The Equities segment engages in Provision of issuer services, securities trading and clearing, securities settlement and depository management, derivatives trading and clearing and collateral management. The Data, Connectivity & Indices segment engages in Provision of market data, connectivity and indices services. The Corporate segment is a Non-operating segment comprising 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 2020 SGDUSD
Revenue1,053.18M761.10M
Gross Profit909.58M657.32M
Operating income564.81M408.17M
Income before tax573.24M414.26M
Net income471.81M340.96M
EBITDA657.56M475.19M
Diluted EPS0.430.31
Dividends Per Share0.300.22
Total Assets2,679.48M1,920.71M
Total liabilities1,430.20M1,025.19M
Total equity1,244.84M892.33M
Operating cash flow637.70M460.85M
Currency in SGDCurrency in USD

Historical Data

 Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020
Revenue 828.88M 806.44M 855.15M 909.74M 1,053.18M
Gross Profit 551.48M 541.32M 572.43M 799.97M 909.58M
Operating income 420.03M 412.81M 436.28M 461.56M 564.81M
Income before tax 414.84M 408.88M 437.47M 474.48M 573.24M
Net income 349.01M 339.69M 363.20M 391.09M 471.81M
EBITDA 479.88M 470.34M 496.93M 524.08M 657.56M
Diluted EPS 0.32 0.31 0.33 0.36 0.43
Dividends Per Share 0.28 0.28 0.30 0.30 0.30
Total Assets 2,110.56M 2,046.60M 2,118.30M 2,132.28M 2,679.48M
Total liabilities 1,120.98M 1,014.07M 1,022.07M 1,041.43M 1,430.20M
Total equity 989.58M 1,032.53M 1,096.23M 1,090.84M 1,244.84M
Operating cash flow 435.04M 393.27M 448.71M 419.92M 637.70M
 Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020
Revenue 596.36M 579.19M 637.08M 666.34M 761.10M
Gross Profit 396.78M 388.78M 426.45M 585.94M 657.32M
Operating income 302.20M 296.48M 325.03M 338.07M 408.17M
Income before tax 298.47M 293.66M 325.91M 347.53M 414.26M
Net income 251.11M 243.97M 270.58M 286.46M 340.96M
EBITDA 345.27M 337.80M 370.21M 383.86M 475.19M
Diluted EPS 0.23 0.22 0.25 0.26 0.31
Dividends Per Share 0.20 0.20 0.22 0.21 0.22
Total Assets 1,568.14M 1,486.44M 1,553.58M 1,576.02M 1,920.71M
Total liabilities 832.89M 736.51M 749.59M 769.75M 1,025.19M
Total equity 735.25M 749.92M 803.98M 806.27M 892.33M
Operating cash flow 313.00M 282.45M 334.29M 307.57M 460.85M

Valuation Measures

Jun 2020
PER18.92
ROA19.61%
ROE40.40%
Operating margin53.62%
Profit margin44.79%

Key executives

  • CEO & Non-Independent Executive Director: Boon Chye Loh
  • Head-Operations & Market Services: Nico Torchetti
  • Chief Financial Officer: Lay Chew Chng
  • Chief Technology Officer & Senior MD: Tinku Gupta
  • Co-Secretary, Legal & Compliance: Kim Ming Seah

Shareholders

  • Temasek Holdings Pte Ltd. (Investment Company) (23.3%)
  • DBS Group Holdings Ltd. (7.6%)
  • The Vanguard Group, Inc. (2.2%)
  • BlackRock Fund Advisors (2.0%)
  • Japan Exchange Group, Inc. (1.7%)
  • Formuepleje A/S Fondsmaeglerselskab (1.3%)
  • AllianceBernstein LP (1.3%)
  • Norges Bank Investment Management (0.7%)
  • APG Asset Management NV (0.7%)
  • Epoch Investment Partners, Inc. (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. (United Kingdom)
  • BidFX Ltd.
  • Singapore Exchange Ltd. (Broker)
  • Singapore Exchange Ltd. (Illinois)
  • Sgx Bond Trading Pte Ltd.
  • Scientific Beta 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

  • Deutsche Boerse AG
  • PT Telekomunikasi Indonesia (Persero) Tbk. Class B
Last Updated on 23 Sep, 2020

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