Listing on the Singapore Exchange

Transcription

1 Listing on the Singapore Exchange Lawrence Wong EVP, Head of Listings 26 September 2012

2 Singapore: A Global Financial Centre World s Best Place for Doing Business* Wealth Management Hub of Asia with largest institutional investor base >US$1.8 trillion assets under management World s 4th largest foreign exchange trading centre >US$330 billion average daily volume Asian logistics centre and maritime hub World s largest bunker port and 2nd largest container port Trading centre for commodities 300 global trading companies 90 top global traders globally/regionally headquartered here Home to global companies Asia Pacific headquarters to >1/3 of Fortune 500 companies Source: Ranked by World Bank as World s best place for doing business, according to Report on Benchmarking global city competitiveness from the Economist Intelligence Unit Limited 2012, Commissioned by Citigroup Inc 1

3 SGX A Truly International Exchange London Stock Exchange New York Stock Exchange Hong Kong Stock Exchange Tokyo Stock Exchange Non-UK 24% Non-US 7% Non-China 2% Non-Japan 0% UK 76% US 93% China 98% Japan 100% Singapore Exchange Country of Origin for Overseas Companies 775 Listed Companies, Market Capitalisation US$720 billion Singapore 60% Non-Singapore 40% Greater China 68% Japan & Korea, 3% Australia, 3% Europe, 3% US, 2% Others, 1% India 1% Southeast Asia 19% Source: Bloomberg & Singapore Exchange (Aug 2012) 2

4 Maritime & Offshore Services Sector Breakdown by Percentage of Listings Key Exchanges in Asia SGX KRX 11% ASX 10% TWSE 6% SGX 30% Shipping 27% (12) Business Trusts 7% (3) Offshore Services 36% (16) HKEx 19% TSE 24% Shipyards 30% (13) Source: Bloomberg & SGX by ICB Classification 0573 (oil equipment & services), 2753 (commercial vehicles & trucks), 2773 (marine transportation) (Aug 2012) Note: For SGX (1) Based on mkt cap: Shipyards 69%, Business Trust 14%, Shipping 9% and Offshore Services 8%; (2) All listed on SGX-Mainboard except for 5 on Catalist. 3

5 SGX Maritime & Offshore Services Sector Cluster of 44 listed companies with total value of >US$46 billion, PE of 11.8x and velocity of 97% Total equity raised since 2010 is US$6.8 billion Market Cap No of Cos Ave PE / Yield * Ave T/O Velocity * Shipyards Shipping Business Trusts Offshore Services US$32.0 billion 13 (30%) 10.2x (PE) 88% Keppel Corporation Sembcorp Marine Yangzijiang Shipbuilding Cosco Corporation STX OSV Holdings Dyna-Mac Holdings Nam Cheong ASL Marine Otto Marine JES International Beng Kuang Marine AVIC International ES Group Holdings # US$4.0 billion 12 (27%) 11.1x (PE) 63% Neptune Orient Lines STX Pan Ocean Golden Ocean Pan-United Corporation Mercator Lines Marco Polo Marine Samudera Shipping Courage Marine Singapore Shipping Corp Seroja Investments Omega Navigation Ent. Berlian Laju Tanker US$6.3 billion 3 (7%) 8.5% (Yield) 53% Hutchison Port Holdings Rickmers Maritime First Ship Lease US$3.7 billion 16 (36%) 15.9x (PE) 148% Ezra Holdings Ezion Holdings Jaya Holdings Swiber Holdings CH Offshore KS Energy Jasper Investments Chuan Hup Holdings Mermaid Maritime Kreuz Holdings # Falcon Energy IEV Holdings # Swissco Holdings Nordic Group SBI Offshore # Jason Marine Group # Source: Bloomberg (Aug 2012); *using weighted market capitalization average excluding outliers; # listed on Catalist 4

6 Funds Raised (US$billion) Deep Market for Equity Fund Raising Fund-raising in Singapore proven in bull & bear markets In 2009, SGX listed companies raised >US$15 billion Largest IPO in 2011: raised US$8.3 billion YTD 31 Aug 2012 IPO and secondary fund raised: US$3.2 billion Secondary Fundraising IPO Fundraising /08 5

7 SGX A Leading Debt Listing Venue in Asia Over 1,200 bonds with nominal value of US$530 billion More than 60 bonds with nominal value of US$30 billion are from SGX Maritime & Offshore Services Sector SGX-listed Debt Securities by Industry Segments Banks/Financial Services SGX-listed Debt Securities by Currencies 4% 4% 5% 3% 3% 31% Industrial Property Sovereign & Quasigovernment 61.3% 8% Oil, Gas & Energy Others 21.0% 9% Transport 13% 19% Electric Metals 4.1% 4.0% 3.2% 1.8% 1.5% 1.4% 0.5% 0.3% 0.2% 0.2% 0.2% 0.2% 0.1% 0.1% 0.1% USD SGD CNY JPY EUR HKD AUD GBP IDR PHP CHF INR TWD ZAR CAD MYR THB Telecom Source: Bloomberg (Jul 2012) 6

8 Investors in SGX Maritime & Offshore Services Sector Aberdeen Asset Management Blackrock Fund Management Blackrock Asset Management Capital Group Investment Capital World Investment Credit Sussie Asset Management DBS Asset Management Deutsche Bank Deutsche Asset Management Invesco Asset Management JF Asset Management Legg Mason International Legg Mason Global Lion Group Investor Lion Group Global Investment Morgan Stanley Investment Management Nomura Asset Management Och-Ziff Capital Prudential Financial Schroder Investment Management Temasek Holdings UBS Strategy Fund Management UOB Asset Management Vanguard Group 7

9 Multiple Capital-Raising Solutions Mainboard Catalist Business Debt Equities REITS Trusts Securities Funds GDRs Equities Primary Listings Secondary Listings Via Initial Public Offering Primary Listing Via Initial Public Offering 8

10 Fast Time-to-Market Mainboard Timeline 7 weeks 2 weeks 1-2 weeks Pre-consult SGX & MAS Concurrent Review Lodgment and Public Exposure on OPERA Registration & Launch Trading Commences Catalist Timeline 4 weeks 2 weeks 1-2 weeks Notification to SGX Lodgment and Public Exposure on Catalodge Registration & Launch Trading Commences Wholesale / Retail * Debt Securities Timeline Within 48 hours / 2 weeks * Preparation to apply SGX Review Approval 9

11 Thank You For more information, please contact: Ms Alice Gwee Director, Listings, SGX DID: (65) HP: (65) Singapore Exchange London Tokyo Beijing 2 Shenton Way, #19-00 SGX Centre 1, Singapore Main: (65) Fax: (65) This presentation is being made available to certain authorized recipients for their general information only. While SGX and its affiliates have taken reasonable care to ensure the accuracy and completeness of the information provided in this presentation, they will not be liable for any loss or damage of any kind (whether direct, indirect or consequential losses or other economic loss of any kind) suffered due to any omission, error, inaccuracy, incompleteness, or otherwise, any reliance on such information. Neither SGX nor any of its affiliates shall be liable for the content of information provided by or quoted from third parties. Examples provided are for illustrative purposes only. The information in this presentation is subject to change without notice. Any recirculation, transmission or distribution of this presentation or any part thereof by any third party requires the prior written permission of SGX. SGX and its affiliates disclaim all responsibility and liability arising in connection with any unauthorised recirculation, transmission or distribution of this presentation or any part thereof. SGX Ltd, November 2010 SGX The Asian Gateway 10