Home Capital Investing ideas

RHB: Singapore’s slowing GDP growth belies attractive stock picks including banks, telcos and REITs

Khairani Afifi Noordin
Khairani Afifi Noordin8/11/2022 08:31 PM GMT+08  • 6 min read
RHB: Singapore’s slowing GDP growth belies attractive stock picks including banks, telcos and REITs
RHB expects inflation to moderate by year-end and debt level for its coverage universe to remain manageable. Photo: Bloomberg
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Singapore’s economy is seen to slow from the wider global woes of inflation and geopolitical risks. Yet, Singapore stocks are seen to continue earnings growth as the companies here ride on growth momentum of exports and strong recovery in services. Consequently, RHB Group Research maintains its earlier call that the Straits Times Index (STI) will end this year higher over 2021, albeit via “slow grind”.

“We expect inflation to moderate by year-end and debt level for our coverage universe to remain manageable. STI’s forward P/E is below its historical average, while its forward yield is still amongst the highest in Asia,” writes RHB’s Shekhar Jaiswal in his Aug 10 report.

RHB’s economist Barnabas Gan had earlier trimmed his Singapore GDP forecast for 2022 to 3.2% from 3.5% — a level that is slightly lower than the consensus forecast of 3.8%, as well as within the lower half of the current official estimates of between 3% and 5%.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.