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Sheng SiongSGX Delivers Record Results with Sustainable Dividend Growth Strategy
Is Singapore’s premier exchange finally hitting its stride as Asia’s most resilient trading venue? Here’s a slide-by-slide breakdown of FY2025 that turns headlines into portfolio actions for CPF/SRS investors.
Opening: Why This Matters Now
Singapore investors want two things: steady income and growth that can survive volatility. SGX just posted record revenue and profit while promising a predictable dividend climb. That’s rare in today’s markets. In this deep dive, we'll walk through SGX's FY2025 results slide by slide. You'll see what moved the numbers, where the risks lie, and how to position in CPF and SRS.
What’s ahead: topline and margin trends, segment drivers, volume pulse, expense discipline, earnings quality, balance sheet strength, dividend roadmap, medium-term guide, strategy, and capital allocation.
Slide 1: Group Net Revenue & Expenses — Foundation and Operating Leverage
This table shows how revenue growth far outpaced costs, lifting margins. For an exchange, fixed platforms scale with volumes. That’s why a 12% revenue lift turned into a bigger margin gain. It matters because margin durability supports dividends and buffers downturns.
SGX delivered its highest net revenue and NPAT. Net revenue rose 11.7% to S$1,298m. Adjusted expenses grew just 1.6% to S$543m. Operating leverage did the heavy lifting
Why it matters for SG investors:
- Operating leverage is real. As activity rises, costs don’t rise as fast.
- Margin expansion supports stable payouts through cycles.
- For CPF/SRS, this suits a core holding that compounds while paying you.
SGX just hit record revenue and profit because its engine scaled without bloating costs: net revenue rose 11.7% to S$1,298m while adjusted expenses rose only 1.6% to S$543m, so operating leverage did the heavy lifting. Why it matters for SG investors: as trading activity climbs, costs lag, lifting margins and supporting steady dividends through cycles. That margin expansion makes payouts more resilient and predictable. For CPF/SRS, SGX fits as a core holding that compounds quietly in the background while paying you along the way.
Read the full Investing Iguana article at https://open.substack.com/pub/investingiguana/p/the-multi-asset-powerhouse-sgx-delivers?r=5enmf1&utm_campaign=post&utm_medium=web&showWelcomeOnShare=false
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