Can SGX draw both Reits and tech stocks?

Two corporate transactions have been quietly telling a bigger story about Singapore’s market this week. One involves a landmark S$3.9 billion deal that puts one of Orchard Road’s most recognisable assets into new hands. The other involves a home-grown tech company chasing a Nasdaq listing for its most exciting business unit. Together they say a lot about where Singapore’s market is strong, where it is still lagging and what the revitalisation push is really up against.

In this episode of Mark To Market, a podcast of BT Correspondents, Ben Paul analyses both transactions through the lens of Singapore’s ongoing market revival efforts, including the Value Unlock programme and the planned SGX-Nasdaq dual-listing bridge. This is a sharp, opinionated take from someone who has been watching this market closely for a long time.

Why listen

• What CICT’s S$3.9 billion acquisition of Paragon actually reveals The deal raises pointed questions about why Cuscaden Peak took Paragon private in the first place and what it means that the numbers look so different now.

• Why Singapore’s largest Reits are doing the heavy lifting for the whole market Paul makes the case that size and Singapore focus are the two variables that matter most for sustaining the Reit sector’s vibrancy, and draws out the implications for possible mergers ahead.

• Whether Addvalue is right to pursue a separate Nasdaq listing The stock jumped 33 per cent on the news but Paul urges caution, explaining why a higher Nasdaq valuation may not flow back to Singapore shareholders the way they expect.

• What the SGX-Nasdaq dual-listing bridge could change and what it cannot The potential is real but so are the limits.

The deals are interesting but the implications may be more so. Listen now.

Discover more BT Correspondents episodes at bt.sg/podcasts. Got feedback? Email us at btpodcasts@sph.com.sg.

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Written and hosted by: Ben Paul (benpaul@sph.com.sg)

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

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