Singapore indicates region's weakest hiring intentions for 1Q19: ManpowerGroup

Singapore indicates region's weakest hiring intentions for 1Q19: ManpowerGroup

By: 
Michelle Zhu
11/12/18, 11:12 am

SINGAPORE (Dec 11): Singapore’s hiring pace is expected to moderate in 1Q19 after three consecutive quarters of strengthening labour market activity, according to the latest ManpowerGroup Employment Outlook Survey.

After accounting for seasonal variations, ManpowerGroup notes that the net employment outlook was +10%, unchanged y-o-y but down from 11%-13% over 2Q-4Q18. This means hiring intentions declined by 3 percentage points when compared to the previous quarter, but unchanged in comparison to a year ago.  

ManpowerGroup’s net employment outlook indicator is derived from taking the percentage of employers anticipating an increase in hiring activity, and subtracting from it the percentage of employers expecting to see a decrease in employment at their location over the next quarter.

Out of the 645 employers who participated in the latest edition of the survey, 10% intended to hire in the quarter ahead, with 1% forecasting a decrease and 86% expecting no change.

In all, ManpowerGroup notes that Singapore’s employers are anticipating an increase in payrolls across all seven industry sectors in 1Q – most notably in the manufacturing sector, where employers reported the industry’s strongest forecast in more than 4 years with a net employment outlook of +14%.

On the other end of the spectrum, the weakest labour market for 1Q19 is anticipated in the transportation & utilities sector, with an outlook of just +3%.

Hiring prospects declined in six out of the seven industry sectors on a q-o-q basis. This change is most marked in the public administration & education sector, which declined by 19 percentage points from a quarter ago.

Singapore’s relatively low net employment outlook score is on par with China’s, with both countries reporting the weakest hiring intentions in the region. On the other hand, Japanese employers reported the strongest outlook in Asia Pacific. 

“Employers in Singapore are currently cautious in their business outlooks due to escalating trade tensions between the United States and China. Most employers are opting to maintain their workforce numbers in the upcoming quarter while they observe developments in the situation,” notes Linda Teo, country manager of ManpowerGroup Singapore.

Keppel REIT posts 4.9% lower 4Q DPU of 1.36 cents

SINGAPORE (Jan 21): The manager of Keppel REIT has declared a 4Q18 distribution per unit (DPU) of 1.36 cents, representing a 4.9% decline from its quarterly DPU of 1.43 cents a year ago. This brings the trust’s FY18 DPU to 5.56 cents, down 2.5% from its DPU of 5.7 cents in FY17. Property income for the latest quarter under review fell 14.8% to $37.8 million from $44.4 million previously due to lower income contributions from Ocean Financial Centre, 275 George Street and 8 Exhibition Street. Share of results of associates and joint ventures declined 14.7% and 7.7%, respectively, to $....
Read More >>

Soildbuild REIT posts 4.9% increase in 4Q DPU to 1.451 cents

SINGAPORE (Jan 21): The manager of Soilbuild Business Space REIT (Soilbuild REIT) has declared distribution per unit (DPU) of 1.451 cents for the 4Q18 ended December, some 4.9% higher than DPU of 1.383 cents a year ago. This brings total DPU for FY18 to 5.284 cents, some 7.5% lower than total DPU of 5.712 cents a year ago. Gross revenue grew 24.3% to $25.8 million in 4Q18, from $20.7 million a year ago. This was mainly due to the liquidation proceeds received from Technics Offshore Engineering, conversion of Solaris into a multi-tenanted property, and the maiden contribution from two ....
Read More >>

ST Engineering's electronics arm secures $351 mil contract wins in 4Q18

SINGAPORE (Jan 21): ST Engineering announced that its electronics arm has secured $351 million worth of contracts in 4Q18, bringing the total amount of contract wins in 2018 to $2.19 billion. These contracts were for its solutions in mobility, satellite communications, Internet of Things (IoT), and cybersecurity, as well as defence. The group secured contracts to supply a Passenger Information System for Shanghai Metro Line 14, and Platform Screen Doors for Bangkok’s MRT line. In Singapore, contracts were secured to supply communications systems for Circle Line Stage 6 and Thomson L....
Read More >>