Country / Singapore

Singapore

Group Research / April 01, 2019

Photo Credit - AFP

Singapore
 201620172018e2019f2020f
GDP growth, % YoY2.03.93.20.71.8
CPI inflation, % YoY-0.50.60.41.11.5
 2Q193Q194Q191Q202Q20
Exchange rates, end of period1.351.401.391.381.37
Policy interest rates, end of period1.951.801.601.601.60
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VivoCity remains the bedrock GSW rejuvenation in our view.SingaporeReal Estate/iwov-resources/aics/images/AICS/AIO/en/082019/190819_insights_thumb_property.jpg/aics/templatedata/article/generic/data/en/GR/082019/190819_insights_property.xmlSingapore Property: Reigniting stars in Singapore’s SouthAugust 19, 2019Given recent weak macro data-points, we continue to prefer the more resilient sub-sectors of retail and diversified industrial & logistics.SingaporeReal Estate/iwov-resources/aics/images/AICS/AIO/en/082019/190816_insights_thumb_singapore_reits.jpg/aics/templatedata/article/generic/data/en/GR/082019/190816_insights_singapore_reits.xmlSingapore REITS: S-REITs (Us) against the worldAugust 16, 2019The fastest may not always be the winner, and 5G is falling well short of the hype in most countries where adoptions are already underway.SingaporeTelecom/iwov-resources/aics/images/AICS/AIO/en/082019/190815_insights_thumb_5G_concorde.jpg/aics/templatedata/article/generic/data/en/GR/082019/190815_insights_5G_concorde.xml5G - The Concorde of Telecommunications?August 15, 2019Singapore Economics InsightsInsightsEconomicsView AllRead Morenotaligned25Growth outlook in the near term appears grim but expect marginal improvement in the coming quarters.SingaporeGrowth/iwov-resources/aics/images/AICS/AIO/en/062019/190603_insights_thumb_Singapore_chartbook.jpg/aics/templatedata/article/generic/data/en/GR/062019/190603_insights_Singapore_chartbook.xmlSingapore Chartbook: Down but not outJune 03, 2019While 1Q19 GDP has disappointed, growth is expected to pick up in 2H19.SingaporeGDP/iwov-resources/aics/images/AICS/AIO/en/042019/190416_insights_thumb_expect_a_better_2h19.jpg/aics/templatedata/article/generic/data/en/GR/042019/190416_insights_expect_a_better_2h19.xmlSingapore’s GDP: Expect a better 2H19April 16, 2019Despite external headwinds, the government continued to focus on strengthening Singapore’s security, enhancing economic transformation, and fostering an inclusive society.SingaporeEconomics/iwov-resources/aics/images/AICS/AIO/en/022019/190219_insights_thumb_Singapore_Budget_2019.jpg/aics/templatedata/article/generic/data/en/GR/022019/190219_insights_Singapore_Budget_2019.xmlSingapore: Singapore Budget 2019 – Deepening enterprise capabilities, strengthening social supportFebruary 19, 2019Singapore Economics DailyEconomicsView AllRead Morenotaligned48The official growth forecast for 2019 has been lowered on the back of poor 2Q19 GDP figures.SingaporeGrowth/iwov-resources/aics/images/AICS/AIO/en/082019/190813_insights_thumb_Singapores_dour_outlook.jpg/aics/templatedata/article/generic/data/en/GR/082019/190813_insights_Singapores_dour_outlook.xmlSingapore’s dour growth outlookAugust 13, 2019SGD liquidity is tight, but not as tight as in June.SingaporeRates/iwov-resources/aics/images/AICS/AIO/en/072019/190716_economics_thumb_SGD_rates.jpg/aics/templatedata/article/generic/data/en/GR/072019/190716_economics_SGD_rates.xmlSGD rates: The liquidity conundrumJuly 16, 2019We have lowered our full year GDP growth forecast for 2019 to 0.7% on the back of the latest set of exceptionally poor GDP data.SingaporeGrowth/iwov-resources/aics/images/AICS/AIO/en/072019/190715_insights_thumb_downgrading_Singapore.jpg/aics/templatedata/article/generic/data/en/GR/072019/190715_insights_downgrading_Singapore.xmlDowngrading Singapore’s growth forecastJuly 15, 2019Singapore EquitiesInsightsEquitiesView AllRead Morenotaligned101For this and other ideas, please check out the Singapore Stock Pulse. Your go-to morning essential that inspires you with investment and trading ideas daily.SingaporeStock Pulse/iwov-resources/aics/images/AICS/wired_daily_singapore/wired_article_01_thumb.jpg/aics/templatedata/article/generic/data/en/GR/082019/190819_singapore_stock_pulse.xmlReal estate sector to benefit from plans to develop Greater Southern WaterfrontAugust 19, 2019For this and other ideas, please check out the Singapore Stock Pulse. Your go-to morning essential that inspires you with investment and trading ideas daily.SingaporeStock Pulse/iwov-resources/aics/images/AICS/wired_daily_singapore/wired_article_05_thumb.jpg/aics/templatedata/article/generic/data/en/GR/082019/190816_singapore_stock_pulse.xmlRetail and office REITs to rise above market volatilityAugust 16, 2019The Straits Times Index (STI) has fallen 6.5% since our last update on 17 July.SingaporeEquities/iwov-resources/aics/images/MODEL-PORT/201903/thumb_sg_model_portfolio.jpg/aics/templatedata/article/generic/data/en/GR/000000/000000_insights_singapore_model_portfolio.xmlSingapore Equity PicksAugust 15, 2019

Disclaimers and Important Notices

The information herein is published by DBS Bank Ltd and PT Bank DBS Indonesia (collectively, the “DBS Group”). It is based on information obtained from sources believed to be reliable, but the Group does not make any representation or warranty, express or implied, as to its accuracy, completeness, timeliness or correctness for any particular purpose. Opinions expressed are subject to change without notice. Any recommendation contained herein does not have regard to the specific investment objectives, financial situation & the particular needs of any specific addressee. The information herein is published for the information of addressees only & is not to be taken in substitution for the exercise of judgement by addressees, who should obtain separate legal or financial advice. The Group, or any of its related companies or any individuals connected with the group accepts no liability for any direct, special, indirect, consequential, incidental damages or any other loss or damages of any kind arising from any use of the information herein (including any error, omission or misstatement herein, negligent or otherwise) or further communication thereof, even if the Group or any other person has been advised of the possibility thereof. The information herein is not to be construed as an offer or a solicitation of an offer to buy or sell any securities, futures, options or other financial instruments or to provide any investment advice or services. The Group & its associates, their directors, officers and/or employees may have positions or other interests in, & may effect transactions in securities mentioned herein & may also perform or seek to perform broking, investment banking & other banking or finan­cial services for these companies. The information herein is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. Sources for all charts & tables are CEIC & Bloomberg unless otherwise specified.

DBS Bank Ltd., 12 Marina Blvd, Marina Bay Financial Center Tower 3, Singapore 018982. Tel: 65-6878-8888. Company Registration No. 196800306E.

PT Bank DBS Indonesia, DBS Bank Tower, 33rd floor, Ciputra World 1, Jalan Prof. Dr. Satrio Kav 3-5, Jakarta, 12940, Indonesia. Tel: 62-21-2988-4000. Company Registration No. 09.03.1.64.96422.