Country / Singapore

Singapore

Group Research / April 01, 2019

Photo Credit - AFP

Singapore
 201620172018e2019f2020f
GDP growth, % YoY2.03.93.22.12.5
CPI inflation, % YoY-0.50.60.41.11.5
 Mar-292Q193Q194Q191Q20
Exchange rates, end of period1.361.371.401.391.38
Policy interest rates, end of period1.951.951.951.951.95
/aics/search.page[Akamai-Origin-Hop] = [3] [User-Agent] = [Mozilla/5.0 ((Windows; U; Windows NT 6.1; fr; rv:1.9.2) Gecko/20100115 Firefox/3.6)] [Connection] = [close] [X-Forwarded-Host] = [www.dbs.com] [Host] = [runtime-prod-01-pwebdsgsmc.sgp.dbs.com:8343] [Accept-Encoding] = [gzip] [True-Client-IP] = [163.172.71.24] [Akamai-Origin-Request] = [1] [Via] = [1.1 v1-akamaitech.net(ghost) (AkamaiGHost), 1.1 v1-akamaitech.net(ghost) (AkamaiGHost), 1.1 akamai.net(ghost) (AkamaiGHost)] [X-Akamai-CONFIG-LOG-DETAIL] = [true] [Cache-Control] = [max-age=21600] [X-Forwarded-For] = [163.172.71.24, 2.17.43.101, 10.86.215.211, 10.89.109.73] [X-Forwarded-Server] = [dbsweb-p00-grp.corp.dbs.com] templatedata/article/region/data/en/AIO/012016/19012016_singapore.xmlaics/regionSingaporeSingapore Industry InsightsInsightsIndustryView AllRead Morenotaligned124Network sharing emphasized following Singapore’s proposed 5G rollout given higher capex. We like NetLink for yield and Singtel for earnings recovery.SingaporeTelecom/iwov-resources/aics/images/AICS/AIO/en/052019/190508_insights_thumb_singapore_telecom.jpg/aics/templatedata/article/generic/data/en/GR/052019/190508_insights_singapore_telecom.xmlSingapore Telecom: 5G Framework encourages network sharingMay 08, 2019Singapore banks’ 1Q19 loan drawdowns expected to be well supported by developers, with full year loan growth projected to come between 4% to 6%.SingaporeFinancials/iwov-resources/aics/images/AICS/AIO/en/052019/190502_insights_thumb_singapore_banks.jpg/aics/templatedata/article/generic/data/en/GR/052019/190502_insights_singapore_banks.xmlSingapore Banks: Loans return to growth trajectoryMay 02, 2019Positive response at Amber Park official launch with steady crowd appearing at viewings.SingaporeReal Estate/iwov-resources/aics/images/AICS/AIO/en/042019/190430_insights_thumb_singapore_property.jpg/aics/templatedata/article/generic/data/en/GR/042019/190430_insights_singapore_property.xmlSingapore Property: Amber Park 2.0: Dare to DreamApril 30, 2019Singapore Economics InsightsInsightsEconomicsView AllRead Morenotaligned24While 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, 2019Do not underestimate the impact of SSBs.SingaporeRates/iwov-resources/aics/images/AICS/AIO/en/022019/190214_insights_thumb_the_SSB_swing_factor.jpg/aics/templatedata/article/generic/data/en/GR/022019/190214_insights_the_SSB_swing_factor.xmlThe SSB swing factorFebruary 14, 2019Singapore Economics DailyEconomicsView AllRead Morenotaligned73SGD liquidity is tight but may get some respite in June.SingaporeRates/iwov-resources/aics/images/AICS/AIO/en/052019/190522_economics_thumb_SGD_Rates_tight_liquidity.jpg/aics/templatedata/article/generic/data/en/GR/052019/190522_economics_SGD_Rates_tight_liquidity.xmlSGD rates: Tight liquidityMay 22, 2019We have lowered our full year GDP growth forecast for Singapore to 2.1%.SingaporeEconomics/iwov-resources/aics/images/AICS/AIO/en/052019/190521_insights_thumb_recalibrating_singapore_s_gdp_outlook.jpg/aics/templatedata/article/generic/data/en/GR/052019/190521_insights_recalibrating_singapore_s_gdp_outlook.xmlRecalibrating Singapore’s GDP outlookMay 21, 2019In our latest Macro Insights video, FX strategist Philip Wee provides a succinct overview of Singapore dollar’s role in monetary policy, as well as the currency’s drivers and outlook.SingaporeEconomics/iwov-resources/aics/images/video_images/201905/DBS_Macro_Insights_Singapore_dollar_thumb.jpg/aics/templatedata/article/generic/data/en/GR/052019/20190506_singapore_dollar_video.xmlDBS Macro Insights: Sing Dollar - What's it all aboutMay 06, 2019Singapore EquitiesInsightsEquitiesView AllRead Morenotaligned45For 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/052019/190524_singapore_stock_pulse.xmlSG market cheapest within Asia with highest dividend yieldMay 24, 2019The benchmark Straits Times Index (STI) fell 2.9% since our last update.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 PicksMay 23, 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_04_thumb.jpg/aics/templatedata/article/generic/data/en/GR/052019/190523_singapore_stock_pulse.xmlCapitaLand removed from Equities Pick Blue Chips categoryMay 23, 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.