Wilmar, AEM, and DBS among Maybank KE’s top picks amid low utilisation levels in Singapore

SINGAPORE (June 29): The second phase of the reopening of Singapore includes broader economic segments including food and beverage (F&B) and retail, while the active number of Covid-19 cases have been halved from early June, says Maybank Kim Eng analyst Thilan Wickramasinghe.

Notably, utilisation levels, especially in the services and construction sectors, are expected to remain low, he says.

The contraction in May’s factory output reported on June 26, was led by a 55.1% plunge in marine and offshore engineering, and a 40.7% decline in transport engineering.