Singapore firms likely to report lower profits, while banks may come out tops:Analyst

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SINGAPORE: The year 2015 was a bad one on the economic front with slowing exports, a sharp drop in oil prices and higher interest rates, and this is expected to show when Singapore firms report quarterly earnings in the coming weeks.

According to analysts, much of the bad news is likely to come from the oil and commodities-related sectors, with some players - Sembcorp Marine, COSCO Singapore and Rickmers Maritime - having already issued profit warnings for the three months to December.

While property prices in Singapore are expected to decline this year, analysts said stocks in the sector have fallen to attractive levels. Data compiled by SGX My Gateway show Singapore's largest property developers and REITs are currently trading around 20 per cent below their book value.

Property stocks account for around one-third of Singapore's biggest stocks, SGX said in a note released on Monday (Jan 11).

http://www.channelnewsasia.com/news/...o/2416280.html


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