SINGAPORE (Dec 3): Earnings forecasts for Singapore companies are likely to be cut again in 2016, after a dismal performance for many firms this year.

This as slowing demand from China and domestic policies to cool property prices hit stocks in the city-state, Credit Suisse says in a note.

The bank says it does not see much scope for a broad rerating despite improved valuations. Credit Suisse’s top picks for next year are DBS, Singapore Telecommunications and City Developments, while its list of bottom performers includes StarHub, M1 and Suntec Real Estate Investment Trust.