Latest news with #EQDP
Business Times
3 days ago
- Business
- Business Times
Over 30 companies in IPO pipeline: SGX
[SINGAPORE] More than 30 companies are currently in the Singapore Exchange's (SGX) initial public offering (IPO) pipeline, according to the group's head of global sales and origination, Pol de Win. He shared this during the group's financial results briefing on Friday (Aug 8), in response to a question from Thilan Wickramasinghe, head of research for Singapore at Maybank Securities. Wickramasinghe had asked for further insights into the IPO pipeline, including the types of companies involved, sector representation and expected timelines. de Win said: 'We are certainly much more positive about the outlook for the IPO pipeline. I know we have said that before in recent years, but some important things have changed.' He noted that the outlook has improved meaningfully on the back of several listings in recent weeks. These include the NTT Data Centre Reit IPO – the exchange's largest in a decade, which also marked a shift towards digital infrastructure within the real estate investment trust space. Other listings such as software-as-a-service (SaaS) provider Info-Tech Systems and Lum Chang Creations on the Catalist board, which has performed strongly post-listing, have added to the momentum. The secondary listing of China Medical System also brought a sizeable life-sciences player to the market, de Win added. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'There is definitely also more of a risk on approach amongst investors that we are seeing, and more confidence around the rates outlook (and) more confidence around growth,' he said. de Win explained that the IPO pipeline can be defined as companies that have appointed advisers and begun preparatory work towards a listing. Beyond this group, there are many more issuers still evaluating market conditions. The current pipeline is split evenly between mainboard and Catalist candidates, spanning a diverse range of sectors. He expects this diversity to continue, building on recent activity which saw companies from digital infrastructure, SaaS, life sciences and construction services come to market. Some of these companies are already in discussions with Singapore Exchange Regulation (SGX RegCo), including those that have submitted their applications. The exchange is also in close contact with others still weighing their options, and expects more of them to be added to the pipeline as conditions evolve. While more than 30 companies are in SGX's pipeline, de Win said that 2025 remains a transitional year. This figure, he told The Business Times, should be viewed as a medium-term and sustainable target – one that can grow over time as deals materialise and sentiment improves. Separately, Ng Yao Loong, head of equities at SGX, told BT that action has already been taken under a review group led by the Monetary Authority of Singapore (MAS), with fund managers appointed as part of the Equity Market Development Programme (EQDP). 'We will be working on a series of things including how they intend to be drawn, how we can support some of the IPOs and also working with companies,' he added. Last month, MAS appointed three asset managers to inject an initial S$1.1 billion into Singapore equities under the EQDP. Ng also highlighted the importance of creating more companies with higher liquidity to strengthen the market, and the need for 'a bunch of pro-enterprise regulations without compromising on quality'. He also pointed out that roughly half of Singapore investors' portfolios are invested overseas, and expressed a clear goal to bring more of that capital back into the local market. Several Singapore-listed index stocks have performed very well recently, supporting this effort, he added. Tan Boon Gin, chief executive officer of SGX RegCo, told BT that it is important to take a holistic approach, with different parts of the market complementing one another. He highlighted the equities review group's initiatives and increasing institutional participation as key efforts that work alongside regulatory measures. SGX reported strong performance in cash equities in financial year 2025, with this segment contributing 45 per cent of the exchange's overall revenue growth. Average daily value rose 27 per cent year on year to S$1.34 billion, the highest in four years, outpacing regional peers. At the financial results briefing, SGX CEO Loh Boon Chye said the exchange is accelerating momentum in its cash equity business, with the IPO pipeline currently at its strongest in years. He added: 'On top of this momentum, the MAS equity market review group serves as a powerful tailwind and catalyst. The renewed focus on Singapore equities has been positive. As the review group initiatives are progressively rolled out, we look forward to the measures laying a stronger foundation for our stock market to grow sustainably.'
Business Times
7 days ago
- Business
- Business Times
Broadening bullishness in Singapore
In the latest episode of Mark To Market, a podcast by The Business Times, senior correspondent Ben Paul takes a hard look at Singapore's multi-billion-dollar shot in the arm for its flagging equity market and whether it's finally moving the needle. The spark? The Monetary Authority of Singapore's (MAS) Equity Market Development Programme (EQDP), which placed S$1.1 billion with three heavyweight fund managers Avanda, Fullerton and JP Morgan. The goal: to inject fresh capital beyond the usual STI suspects and revive interest in small to mid-cap stocks. Paul walks us through why this could be more than just a flash in the pan. Analysts are already flagging potential 'EQDP beneficiaries' like Food Empire, iFast and Sheng Siong whose stocks are seeing renewed investor interest. But the bigger story is how this could shift the way companies engage with shareholders, especially as MAS is also ramping up its GEMS scheme and introducing recourse mechanisms for investors burned by market misconduct. Paul delves into the critics' take and shares his opinion on these latest developments. The episode also unpacks MAS' upcoming consultations on investor recourse, including legal support for shareholder lawsuits and whistleblower protections. Why listen? Because this isn't just another reform package A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up MAS is putting real money behind market revitalisation and investors are paying attention. Because it's not just about liquidity, it's about accountability With more investor tools, underperformers can no longer hide behind excuses. Because the public market is getting a public reboot And Singapore Inc. needs to step up. Listen now to the full episode and stay ahead of market trends and corporate developments with Ben Paul. Mark To Market is a podcast of BT Correspondents. Look out for the next episode featuring wealth editor, Genevieve Cua. And if you have any thoughts or questions, feel free to reach out to us at btpodcasts@ . Written and hosted by: Ben Paul (benpaul@ Edited by: Howie Lim & Claressa Monteiro Produced by: Ben Paul, Howie Lim & Chai Pei Chieh A podcast by BT Podcasts, The Business Times, SPH Media --- Follow BT Correspondents: Channel: Amazon: Apple Podcasts: Spotify: YouTube Music: Website: Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party's products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: BT Podcasts: BT Market Focus: BT Branded Podcasts:
Business Times
31-07-2025
- Business
- Business Times
Singapore, Asia equities with high yields, growth potential focus of JPMAM's MAS EQDP fund strategy
[SINGAPORE] JP Morgan Asset Management (JPMAM) intends to focus on small- and mid-cap (SMID) Singapore stocks, as well as high-yielding markets in the Asia-Pacific, to revitalise investor interest in local equities. The fund strategy, announced at the asset manager's third-quarter outlook briefing on Tuesday (Jul 29), is part of the Equity Market Development Programme (EQDP) led by the Monetary Authority of Singapore (MAS). The SMID slant aligns with the EQDP's goals of spurring interest in Singapore equities as well as attracting 'new third-party capital', noted Pauline Ng, head of the Asean team at JPMAM's emerging markets and Apac equities division. MAS earlier this month highlighted the importance of fund strategies in improving liquidity and broadening participation in Singapore equities. It also cited the need for significant allocation to SMID stocks. JPMAM is among the first three asset managers selected by MAS to manage a combined initial sum of S$1.1 billion; a total of S$5 billion has been allocated for the EQDP. Fullerton Fund Management and Avanda Investment Management are the two other fund managers in this batch. Ng and JPMAM's Asean equities investment manager Ong Chang Qi will lead the fund strategy, supported by the American asset manager's derivatives capability. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up JPMAM chose not to reveal the name of the fund or specify capital allocation amounts at its Q3 2025 outlook briefing. However, it noted that what differentiates its fund strategy from existing offerings in the Singapore market is its income-focused approach. 'The aim is to generate consistent and high income, providing investors with stable income during periods of market volatility, while maintaining capital appreciation prospects (with) Asia and Singapore equities,' Ng told The Business Times. Fullerton Fund Management has said that its Singapore equities unit trust will be invested in Singapore Exchange-listed stocks across various market capitalisations. Avanda Investment Management's Avanda Singapore Discovery Fund, meanwhile, will prioritise SMID stocks which cover the areas of 'value-up, local champions and turnaround'. Interest in other Apac markets As one of the highest-yielding markets in Apac, Singapore will no doubt be the core focus of JPMAM's fund strategy. Singapore equities 'actually compound at the return more than Apac', said Ng. This is partly because the local banks form 'a very large part of the MSCI Singapore Index, which drives its overall return'. She cited DBS as an example: to intensify its income, the lender has altered its business model to be less capital-intensive and more focused on wealth management and fees. Nonetheless, JPMAM's fund will also invest in other high-yield markets within the region, including Indonesia, Hong Kong and Australia, said Ng. South Korea is also an 'interesting market' to the asset manager, she added. 'Although the overall level of dividend yield remains relatively low, payouts and share buybacks are increasing on the back of the government-led value-up plan. Therefore, we are seeing more interesting bottom-up investment opportunities.' Ng declined to share specifics on the allocations to these Apac markets. However, she said JPMAM will consider a variety of sectors, including consumer services, telecommunications, financial services and real estate investment trusts. Capital appreciation prospects also valued Although high dividends are top of mind for JPMAM, they are not the only criteria within its fund strategy. The asset manager will also prioritise picks that demonstrate a positive growth trajectory. 'The strategy also allows us to participate in capital appreciation prospects in Singapore and Asia,' said Ng in response to queries from BT. 'Some of these opportunities may have lower dividend yields now, but we expect higher dividends in the future as a result of growth or improved free cash-flow generation.' She noted that Asean equities have recently displayed growth, with Vietnam's benchmark index up 36 per cent from its low in April, though the country is not yet considered an emerging market by MSCI. Ng also cited US-listed Sea and Grab as 'Asean champions' which 'have the right to not be looked over'. Yet, the current state of regional equities could bring about advantages too, she said, explaining that a long-term investor's entry point could determine the level of annualised return. 'The advantage and attraction of Asean equities are how they have been (so ignored and under-owned that) their valuations are very attractive compared to their own history, and relative to the US and some other markets,' she added.
Business Times
31-07-2025
- Business
- Business Times
S'pore, Asia equities with high yields, growth potential focus of JPMAM's MAS EQDP fund strategy
[SINGAPORE] JP Morgan Asset Management (JPMAM) intends to focus on small- and mid-cap (SMID) Singapore stocks, as well as high-yielding markets in the Asia-Pacific, to revitalise investor interest in local equities. The fund strategy, announced at the asset manager's third-quarter outlook briefing on Tuesday (Jul 29), is part of the Equity Market Development Programme (EQDP) led by the Monetary Authority of Singapore (MAS). The SMID slant aligns with the EQDP's goals of spurring interest in Singapore equities as well as attracting 'new third-party capital', noted Pauline Ng, head of the Asean team at JPMAM's emerging markets and Apac equities division. MAS earlier this month highlighted the importance of fund strategies in improving liquidity and broadening participation in Singapore equities. It also cited the need for significant allocation to SMID stocks. JPMAM is among the first three asset managers selected by MAS to manage a combined initial sum of S$1.1 billion; a total of S$5 billion has been allocated for the EQDP. Fullerton Fund Management and Avanda Investment Management are the two other fund managers in this batch. Ng and JPMAM's Asean equities investment manager Ong Chang Qi will lead the fund strategy, supported by the American asset manager's derivatives capability. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up JPMAM chose not to reveal the name of the fund or specify capital allocation amounts at its Q3 2025 outlook briefing. However, it noted that what differentiates its fund strategy from existing offerings in the Singapore market is its income-focused approach. 'The aim is to generate consistent and high income, providing investors with stable income during periods of market volatility, while maintaining capital appreciation prospects (with) Asia and Singapore equities,' Ng told The Business Times. Fullerton Fund Management has said that its Singapore equities unit trust will be invested in Singapore Exchange-listed stocks across various market capitalisations. Avanda Investment Management's Avanda Singapore Discovery Fund, meanwhile, will prioritise SMID stocks which cover the areas of 'value-up, local champions and turnaround'. Interest in other Apac markets As one of the highest-yielding markets in Apac, Singapore will no doubt be the core focus of JPMAM's fund strategy. Singapore equities 'actually compound at the return more than Apac', said Ng. This is partly because the local banks form 'a very large part of the MSCI Singapore Index, which drives its overall return'. She cited DBS as an example: to intensify its income, the lender has altered its business model to be less capital-intensive and more focused on wealth management and fees. Nonetheless, JPMAM's fund will also invest in other high-yield markets within the region, including Indonesia, Hong Kong and Australia, said Ng. South Korea is also an 'interesting market' to the asset manager, she added. 'Although the overall level of dividend yield remains relatively low, payouts and share buybacks are increasing on the back of the government-led value-up plan. Therefore, we are seeing more interesting bottom-up investment opportunities.' Ng declined to share specifics on the allocations to these Apac markets. However, she said JPMAM will consider a variety of sectors, including consumer services, telecommunications, financial services and real estate investment trusts. Capital appreciation prospects also valued Although high dividends are top of mind for JPMAM, they are not the only criteria within its fund strategy. The asset manager will also prioritise picks that demonstrate a positive growth trajectory. 'The strategy also allows us to participate in capital appreciation prospects in Singapore and Asia,' said Ng in response to queries from BT. 'Some of these opportunities may have lower dividend yields now, but we expect higher dividends in the future as a result of growth or improved free cash-flow generation.' She noted that Asean equities have recently displayed growth, with Vietnam's benchmark index up 36 per cent from its low in April, though the country is not yet considered an emerging market by MSCI. Ng also cited US-listed Sea and Grab as 'Asean champions' which 'have the right to not be looked over'. Yet, the current state of regional equities could bring about advantages too, she said, explaining that a long-term investor's entry point could determine the level of annualised return. 'The advantage and attraction of Asean equities are how they have been (so ignored and under-owned that) their valuations are very attractive compared to their own history, and relative to the US and some other markets,' she added.
Business Times
31-07-2025
- Business
- Business Times
S'pore, Asia equities with high yields, growth potential focus of JPPAM's MAS EQDP fund strategy
[SINGAPORE] JP Morgan Asset Management (JPMAM) intends to focus on small- and mid-cap (SMID) Singapore stocks, as well as high-yielding markets in the Asia-Pacific, to revitalise investor interest in local equities. The fund strategy, announced at the asset manager's third-quarter outlook briefing on Tuesday (Jul 29), is part of the Equity Market Development Programme (EQDP) led by the Monetary Authority of Singapore (MAS). The SMID slant aligns with the EQDP's goals of spurring interest in Singapore equities as well as attracting 'new third-party capital', noted Pauline Ng, head of the Asean team at JPMAM's emerging markets and Apac equities division. MAS earlier this month highlighted the importance of fund strategies in improving liquidity and broadening participation in Singapore equities. It also cited the need for significant allocation to SMID stocks. JPMAM is among the first three asset managers selected by MAS to manage a combined initial sum of S$1.1 billion; a total of S$5 billion has been allocated for the EQDP. Fullerton Fund Management and Avanda Investment Management are the two other fund managers in this batch. Ng and JPMAM's Asean equities investment manager Ong Chang Qi will lead the fund strategy, supported by the American asset manager's derivatives capability. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up JPMAM chose not to reveal the name of the fund or specify capital allocation amounts at its Q3 2025 outlook briefing. However, it noted that what differentiates its fund strategy from existing offerings in the Singapore market is its income-focused approach. 'The aim is to generate consistent and high income, providing investors with stable income during periods of market volatility, while maintaining capital appreciation prospects (with) Asia and Singapore equities,' Ng told The Business Times. Fullerton Fund Management has said that its Singapore equities unit trust will be invested in Singapore Exchange-listed stocks across various market capitalisations. Avanda Investment Management's Avanda Singapore Discovery Fund, meanwhile, will prioritise SMID stocks which cover the areas of 'value-up, local champions and turnaround'. Interest in other Apac markets As one of the highest-yielding markets in Apac, Singapore will no doubt be the core focus of JPMAM's fund strategy. Singapore equities 'actually compound at the return more than Apac', said Ng. This is partly because the local banks form 'a very large part of the MSCI Singapore Index, which drives its overall return'. She cited DBS as an example: to intensify its income, the lender has altered its business model to be less capital-intensive and more focused on wealth management and fees. Nonetheless, JPMAM's fund will also invest in other high-yield markets within the region, including Indonesia, Hong Kong and Australia, said Ng. South Korea is also an 'interesting market' to the asset manager, she added. 'Although the overall level of dividend yield remains relatively low, payouts and share buybacks are increasing on the back of the government-led value-up plan. Therefore, we are seeing more interesting bottom-up investment opportunities.' Ng declined to share specifics on the allocations to these Apac markets. However, she said JPMAM will consider a variety of sectors, including consumer services, telecommunications, financial services and real estate investment trusts. Capital appreciation prospects also valued Although high dividends are top of mind for JPMAM, they are not the only criteria within its fund strategy. The asset manager will also prioritise picks that demonstrate a positive growth trajectory. 'The strategy also allows us to participate in capital appreciation prospects in Singapore and Asia,' said Ng in response to queries from BT. 'Some of these opportunities may have lower dividend yields now, but we expect higher dividends in the future as a result of growth or improved free cash-flow generation.' She noted that Asean equities have recently displayed growth, with Vietnam's benchmark index up 36 per cent from its low in April, though the country is not yet considered an emerging market by MSCI. Ng also cited US-listed Sea and Grab as 'Asean champions' which 'have the right to not be looked over'. Yet, the current state of regional equities could bring about advantages too, she said, explaining that a long-term investor's entry point could determine the level of annualised return. 'The advantage and attraction of Asean equities are how they have been (so ignored and under-owned that) their valuations are very attractive compared to their own history, and relative to the US and some other markets,' she added.
