Latest news with #RexInternational
Business Times
2 days ago
- Business
- Business Times
US ETF outperforming S&P 500 becomes substantial shareholder in Rex, has stakes in 30 Singapore stocks
[SINGAPORE] A US-based exchange-traded fund (ETF) has recently become a substantial shareholder of Rex International after raising its stake in the oil exploration and production company. Avantis International Small Cap Value ETF (AVDV ETF), an actively managed ETF, in July increased its stake in Rex International to 5.3 per cent, or around 69 million shares. This crossed the 5 per cent threshold that qualifies substantial shareholders under Singapore law, the Singapore Exchange (SGX) said on Monday (Jul 28). The fund is managed by American Century Investment and focuses on undervalued small-cap companies with strong fundamentals in non-US developed markets. It has assets under management of close to US$11 billion. Its year-to-date return, as at Jun 30, is 24.05 per cent, according to its factsheet. That outperformed the S&P 500, which was up 5.48 per cent in the same period. The bourse operator noted that the fund's investment in 30 SGX-listed companies, including Rex International, is 'a recent milestone (that) underscores growing global interest in Singapore's capital markets'. 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 'This recognition by a US institutional investor reflects the growing visibility and attractiveness of SGX-listed companies on the global stage. It is also a timely reminder that Singapore's capital market continues to serve as a vital gateway for international exposure, especially for nimble, well-managed small-cap companies,' it said. The ETF's SGX-listed stock holdings Of the SGX stocks in its portfolio, it has the largest exposure to Yangzijiang Financial – the former investment arm of Yangzijiang Shipbuilding that was spun-off from the Chinese vesselmaker in 2022. The investment management, wealth advisory and fund management company ranks eighth in terms of stock weight in the fund as at Jul 24. AVDV ETF holds an estimated 2.6 per cent interest in the company – or around 89.6 million shares – which accounted for about 0.6 per cent of the fund's portfolio. This was followed by First Resources , which ranks second by stock weight among the SGX-listed stocks in the fund's portfolio. The Indonesian palm oil producer accounts for about 0.2 per cent of the ETF's portfolio. The fund holds around 1 per cent or 15.6 million of its shares. AVDV ETF owns a 0.1 per cent stake, or around 6.9 million shares, in Keppel Infrastructure Trust, which occupies 0.02 per cent of its portfolio. It also owns 2.3 per cent, or around 21.4 million shares, of construction engineering company Wee Hur, which has a 0.1 per cent stock weight in the ETF. The AVDV ETF targets companies with low valuations and strong profitability with the aim of boosting expected returns, SGX said. The portfolio managers evaluate these traits using financial and market data such as shares outstanding, book value, cash flows and accruals, its ETF prospectus indicated. Value is primarily assessed via the adjusted book-to-price ratio. Profitability is measured by the adjusted cash flow-to-book value ratio, while considering other metrics. A company's industry classification, relative performance, liquidity, float and tax or governance considerations, are also taken into account. Securities that meet the criteria are included in a diversified portfolio. Their weights are based on market capitalisation and are adjusted for value, profitability and performance.
Yahoo
03-07-2025
- Business
- Yahoo
Rex International Holding's (SGX:5WH) Returns On Capital Are Heading Higher
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. So on that note, Rex International Holding (SGX:5WH) looks quite promising in regards to its trends of return on capital. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. To calculate this metric for Rex International Holding, this is the formula: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.041 = US$19m ÷ (US$572m - US$107m) (Based on the trailing twelve months to December 2024). Therefore, Rex International Holding has an ROCE of 4.1%. Even though it's in line with the industry average of 4.3%, it's still a low return by itself. Check out our latest analysis for Rex International Holding Above you can see how the current ROCE for Rex International Holding compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering Rex International Holding for free. The fact that Rex International Holding is now generating some pre-tax profits from its prior investments is very encouraging. About five years ago the company was generating losses but things have turned around because it's now earning 4.1% on its capital. And unsurprisingly, like most companies trying to break into the black, Rex International Holding is utilizing 195% more capital than it was five years ago. This can tell us that the company has plenty of reinvestment opportunities that are able to generate higher returns. To the delight of most shareholders, Rex International Holding has now broken into profitability. Investors may not be impressed by the favorable underlying trends yet because over the last five years the stock has only returned 3.5% to shareholders. Given that, we'd look further into this stock in case it has more traits that could make it multiply in the long term. If you'd like to know about the risks facing Rex International Holding, we've discovered 1 warning sign that you should be aware of. While Rex International Holding may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. 登入存取你的投資組合
Zawya
25-06-2025
- Business
- Zawya
Oman's offshore Block 50 poised for growth with updated reserves
MUSCAT: Masirah Oil Ltd, with its primary owner Rex International Holding Ltd (87.5%), is set to unlock further value from its Yumna Field in Block 50 Offshore Oman, following a comprehensive independent reserves estimation report by Exceed Torridon Ltd (XCD). The summary report, issued on June 23, 2025, highlights updated reserves figures as of December 31, 2024, and outlines an ambitious development strategy that includes several new wells aimed at enhancing recovery and extending the field's life. The Yumna Field, the first discovery in Oman's Block 50, has been a significant asset for Masirah Oil since its initial discovery in 2013 and the spudding of the first development well, Yumna-1, in December 2019. The field has shown robust performance, with production transferred to a Mobile Offshore Production Unit (MOPU) in April 2020, and subsequent wells, Yumna-2, Yumna-3, Yumna-4, and Yumna-5, contributing to its output. According to the XCD report, which was prepared in line with the Petroleum Resource Management System (PRMS) standards, the Yumna Field had produced approximately 9 million stock tank barrels (MMstb) by December 31, 2024. The updated assessment reveals significant changes in the remaining reserves, attributed to continued production, improved terms, and further optimization of the depletion plan. For the "Base 2P" category, the current report estimates gross attributable reserves to the license at 6.0 MMstb, a notable increase from the previous report's 3.7 MMstb. This 27% change underscores the positive impact of ongoing field optimization. Similarly, the "High 3P" category shows an increase to 7.0 MMstb from 4.1 MMstb, representing a 34% change. The "Low 1P" reserves also saw a slight increase to 0.5 MMstb from 0.4 MMstb. These figures are based on new assumptions for economic cut-off, with the economic limit for 1P, 2P, and 3P reserves set at December 2025, November 2030, and June 2031, respectively. A key factor in the updated reserves is the continuous refinement of the reservoir model. XCD provided Masirah Oil with an updated static and dynamic reservoir model in late 2023, which informed the drilling of the Yumna-5 well. The field exceeded initial production forecasts, prompting a further model update in October 2024 to better reflect the production trends. The report notes that this updated forecast has been accurate. The forward plan for the Yumna Field is focused on continued production optimization from the existing wells and the phased introduction of new development wells. Yumna-6 is slated to begin in the second half of 2025 as a sidetrack from the existing Yumna-2 well, targeting reserves in the northwest. Following this, a new well, Yumna-7, will be a step-out to the northeast, and Yumna-8, featuring a horizontal completion, will target reserves in the far northern part of the field, north of Yumna-2 and Yumna-6. These three wells (Yumna-6, Yumna-7, and Yumna-8) are included in the 2P development plan. Beyond these, the 3P scenario includes the drilling of Yumna-9, Yumna-10, and Yumna-11, further expanding the field's drainage. The technical review within the report indicates a positive development of the estimated in-place resource. Well data, including from the recently drilled Yumna-5, has identified additional reserves and reduced uncertainty in the volume estimations between 2020 and 2024. The field continues to experience a strong water drive from a very large aquifer, and based on production data, a recovery factor of approximately 45% is considered appropriate. The reservoir properties observed in Yumna-5 align with predictions, with effective sweep and residual oil saturations in the lowermost part of the reservoir. In 2024, the Yumna Field produced 0.864 MMstb gross oil from four wells: Yumna-2, Yumna-3, Yumna-4, and Yumna-5. While Yumna-1 was shut-in due to Electrical Submersible Pump (ESP) issues and Yumna-2 was temporarily shut-in for gas lift optimization, the field's oil rate peaked at 4,300 stb/d on April 26, 2024, before slowly declining to 2,700 stb/d. A constant Brent price of $65/bbl was used for economic calculations to determine the cut-off limit for production in this report.
Business Times
23-06-2025
- Business
- Business Times
Singapore, Asia-Pacific markets fall after US strikes on Iran; oil prices surge, dollar strengthens
[SINGAPORE] Asia-Pacific markets declined in early trade on Monday (Jun 23) morning, as oil prices surged and the greenback reacted, after the US launched strikes against three nuclear facilities in Iran over the weekend. Singapore shares opened Monday lower, with the Straits Times Index (STI) down 0.9 per cent or 35.64 points at 3,847.79 as at 9.01 am. Across the broader market, losers outnumbered gainers 96 to 25 after around 80 million securities worth S$140.2 million changed hands. Thai Beverage was the most actively traded counter by volume. It was down 2.3 per cent or S$0.01 at S$0.435, with some 13.6 million shares changing hands. Other actively traded counters included CapitaLand Integrated Commercial Trust , which was down 0.9 per cent or S$0.02 at S$2.15 and multinational oil exploration and production company Rex International which was up 4.6 per cent or S$0.01 at S$0.23. The trio of Singapore banks were trading lower at open. DBS declined 1.6 per cent per cent or S$0.69 to S$43.19. OCBC slid 0.5 per cent or S$0.08 to S$15.82 and UOB fell 1 per cent or S$0.34 to S$34.55. Japan's Nikkei 225 tumbled 0.69 per cent while South Korea's Kospi fell over 1 per cent. Australia's ASX was down around 0.3 per cent. Oil prices surged in early trade on Monday, with Brent and the main US crude contract WTI both climbing more than four per cent to hit their highest price since January before paring gains. Brent last jumped 2.66 per cent to $79.06 per barrel after 9 am Singapore time and WTI was up 2.75 per cent at US$75.87. 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 Crude prices had already spiked last week after Israel attacked Iran. Brent has risen 13 per cent since the conflict began on Jun 3, while WTI has gained around 10 per cent, according to Reuters data on Monday. The US dollar index rose nearly 0.4 per cent, strengthening slightly around 0.17 per cent to the Singapore dollar at around S$1.2895, after 9am Singapore time. On Saturday, US President Donald Trump announced strikes against three Iranian nuclear facilities, boosting Israel's efforts to destroy Iran's nuclear programme. This followed more than a week of Israeli air attacks on Iran's nuclear and military facilities and US attempts to persuade Iran to reach a deal to dismantle its nuclear programme. In response, Iran on Sunday threatened US bases in the Middle East, intensifying concern of a deepening of conflict in the region. An adviser to Iran's supreme leader Ayatollah Ali Khamenei Ali said bases used by US forces could be attacked in retaliation given that the US 'has attacked the heart of the Islamic world and must await irreparable consequences'. He warned that countries in the region or elsewhere used by US forces to strike Iran would be considered legitimate targets for Iran's armed forces. Please check back for more updates.
Business Times
22-06-2025
- Business
- Business Times
Sustainable investors hold their ground as energy, defence stocks surge
[SINGAPORE] Regional wars, tariff threats and the US' pro-fossil fuel policies have sent defence and energy stocks soaring in 2025, but not all is lost for investors committed to sustainable and responsible investing, experts told The Business Times. Markets were closed on Jun 22, when US President Donald Trump ordered an attack on Iranian nuclear sites, but investors are bracing for a further spike in oil prices and rush to safe havens. The S&P 500 Energy sector index had risen 8.56 per cent month on month as at Jun 20, compared with the S&P 500's 2.11 per cent month-on-month gain. In Asia, several energy stocks rose after Israel launched air strikes on Iran on Jun 13, sending Brent futures up by US$5 to US$74 per barrel. Singapore-listed energy players such as Rex International and RH PetroGas surged more than 6 per cent at market open on Jun 16 after the strikes. The MSCI World Aerospace and Defense Index had an even larger surge, and was up 33.45 per cent year-to-date as at May 31. Comparatively, the MSCI World Socially Responsible Investment (SRI) Index has underperformed, rising 3.26 per cent year-to-date as at May 30, 2025, compared with the MSCI World index's 5.18 per cent year-to-date increase. A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up More than half (56 per cent) of global investors believe that Trump's pro-fossil fuels and anti-clean energy agenda will slow the net-zero transition, indicated asset management firm Robeco's fifth annual Global Climate Investing Survey 2025 released on Jun 3, 2025. 'Clearly, the world is currently facing a tremendous amount of uncertainty, which affects both companies and investors,' Jane Wadia, London-based head of sustainability for core products and clients at AXA Investment Managers (AXA IM), told BT. US tariffs will disrupt the global trade system, she said, 'which has implications for sustainability due to the strain on supply chains'. She added: 'As a result, it may become more challenging for businesses to source materials and finance long-term projects that contribute to their sustainability efforts.' Even so, sustainability investing experts like Wadia are not too worried about the underperformance of sustainable funds or environmental, social and governance (ESG)-integrated strategies in light of these geopolitical and policy-driven uncertainties. 'We continue to see significant progress in the transition to net zero. A recent report from the International Energy Agency suggests that more than one in four cars sold globally in 2025 will be electric,' she said. 'The cost of renewable energy is falling relative to oil and gas in the long term, while demand for electricity is rising, driven by the ongoing development in China and the growth of artificial intelligence and data centres.' Despite news headlines about the ESG backlash, the undercurrents of companies' continued commitment to the energy transition and emissions reduction are still 'quite positive', said Louise Dudley, Federated Hermes' portfolio manager for global equities, who also leads ESG and responsible investment research strategy. 'We are still continuing to see opportunities around the world.' Federated Hermes managed US$839.8 billion in assets as at Mar 31, 2025. The 'green-hushing' phenomenon – where companies are removing climate goals and Web pages from the public eye but are still committed to sustainable agendas – is still alive and well, she said in an interview with BT. In addition, some of the underperforming funds could have been those that 'went quite high-risk, quite concentrated', she said, adding: 'Those types of thematic funds will have periods of underperformance as well as periods of outperformance.' A fund that is less thematic and more diversified is likely to be more resilient in the long term, she added. 'Maybe you don't get the excitement of 'Oh, we're 6 per cent ahead', but when some of these thematic trends, such as inflation, interest rates and all those things (come into play), we'll be well positioned on that,' she noted. At the core of it, measuring ESG factors is a form of risk management, she added. 'Governance, we always feel, is the backbone (of a firm), where, if a company is doing well from a governance perspective, it's going to do well… because it's going to be thinking about the right kind of risk; and it has the right people in place to manage whatever environment they go into,' she said. Responsible energy and defence investments The rise in energy and defence stocks is not necessarily incompatible with sustainable investing either, said Lucian Peppelenbos, climate and biodiversity strategist at Robeco, which had US$222 billion in assets under management and advice, of which US$216 billion is managed in ESG-integrated assets, as at December 2024. 'Within energy stocks, there are companies seriously transitioning; and also in many cases, for example, where gas replaces coal, we can see it as a sustainable transition investment,' said Peppelenbos, who is based in Amsterdam, said in an interview with BT. For instance, Norwegian oil and gas company Aker BP, which is listed on the Oslo Stock Exchange with a market capitalisation of 176.59 billion kroner (S$22.49 billion) has been viewed as an energy business with strong transition commitments, a relatively clean eco-footprint and strong fundamentals. Several other, more well-known global names such as Exxon Mobil and Royal Dutch Shell have diversified into alternative energy sources to varying degrees, although some – such as British Petroleum (BP) – have rolled back their commitments to transition away from fossil fuels. When it comes to defence stocks, Robeco makes sure there is no exposure to controversial weapons – which is against the law, as Peppelenbos reminded – and the firm calls defence investments 'responsible investing' over 'sustainable investing'. Robeco considers controversial weapons to include cluster munitions, anti-personnel mines, white phosphorus and depleted uranium ammunition, along with chemical, biological and nuclear weapons. Most of these are banned under international treaties. '(Within) exposure to defence stocks more generally, for example, there are more cybersecurity-related defence stocks that are very well compatible within ESG-integrated strategies,' he said. For instance, a high-profile incident last year where Northern Korean hackers were accused of allegedly stealing over US$1 billion worth of cryptocurrency highlights how modern warfare has evolved beyond conventional wars to cyberwars. Peppelenbos also believes that ESG is a performance driver; and because sustainability risks 'can be and often are financially material', integrating those risks makes for better informed investment decisions to help risk-adjusted returns, he said. 'Our research shows, for example, that among companies across high emission sectors and low emission sectors, companies that have good transition plans in terms of climate change – meaning targets that are in line with how their sector should decarbonise over time and are reflected in a credible transition plan – those companies are outperforming the climate laggers in their sector. So that's clearly a piece of evidence where sustainability and performance can actually go hand in hand,' he added. One underappreciated aspect of clean energy is that it plays a crucial role in future geopolitical stability as conflicts historically often arise over food, resources and energy, Ulrik Fugmann, co-head of environmental strategies group at the BNP Paribas Asset Management, told BT. Clean energy solutions and environment infrastructure is growing across Asia, Europe and the US at unprecedented speed and scale, he said. This is because of its cost-competitiveness and ability to readily tackle an urgent need to address global power deficits that are accelerated by the progress in artificial intelligence and data centres, said Fugmann, who is based in London. The asset manager has 602 billion euros (S$892.9 billion) in assets under management, of which 418 billion euros is in ESG assets. 'Given recent years' rise in inflation, interest rates and uncertain policy environment that is now getting re-enforced in the US and Europe, the clean energy sector today trades at valuation levels not seen since the great financial crisis in 2008 and depths of the Covid-19 crisis – in sharp contrast to global markets and elevated valuations in the technology sector trading at all-time highs,' he said. 'The case for sustainable solutions in clean energy has rarely been this attractive – both from a top-down macro-economic perspective and bottom-up valuation point of view,' he added.
