Winners and losers from Singapore's budget as election looms

SINGAPORE (Feb 19): Singapore Finance Minister Heng Swee Keat boosted health-care and military spending, gave tax rebates to citizens and tightened rules on foreign workers ahead of an election that could come as early as this year.

Heng announced a new $8 billion support package for seniors in his budget speech on Monday, as well as measures to help local businesses adopt new technologies. The expansionary fiscal plan will push the overall budget deficit to 0.7% of gross domestic product in the year ending March 2020, from a revised surplus of 0.4% this year.

Jumbo posts 23.9% lower 2Q earnings of $4.3 mil due to ongoing expansion

SINGAPORE (May 14): Jumbo Group announced earnings of $4.3 million for the 2Q ended March, down by 23.9% from its 2Q17 earnings of $5.7 million due to higher expenses mainly incurred as part of the group’s ongoing expansion.

The latest set of 2Q results brings Jumbo’s earnings for 1H18 to $77.5 million, which is 7.5% up from $72.1 million in the same period a year ago.

OCBC, Jumbo, Hyflux, Old Chang Kee, Metro

SINGAPORE (Feb 14): Here are some stocks that could move the market this Tuesday morning.

Oversea-Chinese Banking Corporation reported a 18% fall in earnings to $789 million for the 4Q16 ended Dec from a year ago as net interest income fell 7% to $1.25 billion on lower net interest margin from the continued compression in customer loan yields. OCBC closed at $9.75 on Monday.

Consumer space still offers attractive growth

SINGAPORE (Feb 1): OCBC is keeping its “neutral” call for the consumer sector but reiterating its “buy” on supermarket operator Sheng Siong Group with a target price of $1.15, thanks to the company’s management strength and largely stable, cash-generative business.

In a Wednesday report, lead analyst Jodie Foo says the year started off on a broadly positive note. The STI is up 5.8% year to date, while the FTSE Consumer Goods Index and FTSE Consumer Services Index were up 3.9% and 1.1%, respectively.

Ascendas India Trust, Fragrance, Cordlife, Jumbo, Trendlines

SINGAPORE (Feb 1): Here are some stocks that could move the market this Wednesday morning.

Ascendas India Trust reported a DPU of 1.42 cents for 3Q17, a 5% increase from 3Q16. Total property income rose 7% to IDR 1.9 billion ($201,000) in the quarter, thanks to additional income from recently acquired CyberVale 3. Shares in Ascendas India Trust closed at $1.05.

See: Ascendas India Trust posts 1.42 cents DPU for 3Q

Jumbo CEO Ang gives up chairmanship to focus on next stage of growth

SINGAPORE (Jan 31): Ang Kiam Meng, executive chairman and CEO of the Jumbo group of seafood restaurants, is relinquishing his role as chairman of the board to focus on the restaurant chain's next stage of growth.

Lead independent director Tan Cher Liang, who co-founded corporate services group Boardroom, will take over as the new independent chairman.

Ang will now be executive director and group CEO.

In FY16, Jumbo’s earnings rose 46.3% to $15.5 million from a year ago due to higher gross profit and share of results of associates.

CapitaLand, Jumbo, HC Surgical, ISR Capital, Midas

SINGAPORE (Jan 4): Here are some stocks that could move the market this Wednesday morning:

CapitaLand in alleged lease dispute with UK art gallery

Jumbo to open seafood restaurants in Vietnam

4 consumer goods stock picks that could fly off the shelves

SINGAPORE (Dec 19): DBS Group Research is keeping the Singapore consumer goods sector at “overweight” ahead of a projected 8.6% earnings growth in FY2017F.

This is on the back of companies’ exposure and growth outside of Singapore, says DBS lead analyst Andy Sim.

The growth will be “underpinned largely by expectations of a continued pick-up in consumer sentiment in regional economies, such as Thailand and Indonesia,” says Sim.

Meanwhile, domestic demand in Singapore is expected to remain “relatively lacklustre” due to subdued GDP growth and macro uncertainties.

This F&B stock is brimming with growth potential

SINGAPORE (Oct 10): UOB Kay Hian is keeping restaurant chain operator Jumbo Group at “hold” with an unchanged target price of 60 cents despite noting that the group is on track with its expansion plans, with more potential joint venture (JV) and franchise opportunities ahead.   

This is due to the stock’s current share price of 63 cents, as opposed to the research house’s recommended entry price of 54 cents.

In a Monday report, analysts Nicholas Leow and Andrew Chow say they continue to view Jumbo as a “strong cash-generative consumer play with defensive characteristics”.

Pan United, OUE, Wilmar, Jumbo, Metro, China Int’l

SINGAPORE (Oct 5): Here are some factors and stocks that could move the market this Wednesday morning:

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