All it took was another rate cut: Economic growth expectations surged and risk-taking took off in November, according to the Bofa-ML fund managers survey.
Perennial reported Tuesday it swung to a net loss of S$9.93 million for the third quarter, due to a year-ago fair value gain and higher finance costs.
AIMS APAC REIT reported Tuesday its fiscal 2Q net property income increased 16.6% on-year to S$22.49 million on higher gross revenue after an acquisition.
The ECB’s decision to cut rates is a “game changer,” set to force the hand of the Fed, Markus Schomer, chief economist at PineBridge, said Monday.
Ascendas REIT reported Friday its fiscal 2Q net property income climbed 12% on-year to S$177.9M on the acquisitions of 38 logistics properties in the U.K.
UOB reported Friday its third quarter net profit climbed 8 percent to S$1.12 billion on stronger client franchise income and trading and investment income.
Hi-P International reported Wednesday its third quarter net profit fell 2.7 percent on-year to S$32.87 million as the gross profit margin declined.
Hutchison Ports Holdings Trust reported Friday its profit attributable to unitholders, or net profit, fell 2.9% on-year to HK$232.5M (S$40.44M).
Cache Logistics Trust reported Friday its 3Q19 net property income fell 8.3% on-year to S$21.14M, partly on converting the Cache Gul LogisCentre to a multi-tenancy structure.
ESR-REIT reported Friday its 3Q19 net profit jumped 101.1 percent on-year to S$45.3 million, partly on the acquisition of Viva Trust’s nine properties.
Frasers Centrepoint Trust reported Wednesday its fiscal 4Q net property income slipped 0.1 percent on-year to S$32.85M. The results missed a Daiwa forecast.
Mapletree Industrial Trust reported Tuesday its fiscal 2Q net property income rose 13.3 percent on-year to S$79.99M on contributions from new projects.
Mapletree Logistics Trust reported Monday its fiscal 2Q net property income rose 21% on-year to S$109.13M, coming in slightly ahead of a Daiwa forecast.
Mapletree Logistics Trust said Monday it plans to acquire seven logistics properties across Malaysia, Vietnam and China for around S$383.9 million.
Valuetronics said Thursday it set up a subsidiary in Vietnam to expand its operations in the country as it shifts some manufacturing out of China.
Ornamental fish breeder Qian Hu reported Wednesday its 3Q19 net profit surged 72 percent on-year to S$301,000, despite a long-running dragon fish price war.
Fund managers are more dispirited about the potential for a trade war resolution, according to the October BofA-ML fund manager survey, released Wednesday.
The MAS reduced the Singapore dollar’s rate of appreciation slightly Monday, taking a more prudent approach to easing policy than some analysts expected.
The U.S. trade war with China may be drawing unstable lines in the sand, but Singapore’s Deputy PM Heng said Thursday Asia remained committed to free trade.
Fund managers’ recession expectations have hit levels last seen during the Global Financial Crisis, according to the BofA-ML September survey Tuesday.
Trading volume of commodity derivatives surged 91% on-year in August to 2.74 million contracts as markets remained jittery, Singapore Exchange said Tuesday.
Del Monte Pacific reported Friday a fiscal 1Q net loss of US$38.26 million on one-off items related to closing plants in the U.S.
Valuetronics said Wednesday its fiscal 1Q net profit fell 3.1% on-year to HK$48.1M as the U.S. trade war spurs customers to seek production outside China.
Global fund managers are still nervous in August, pulling away from equities and turning to “insurance,” the BofA-ML fund manager survey said Tuesday.
Singapore is likely to meet slowing economic growth with targeted fiscal help, Selina Ling, head of treasury research and strategy at OCBC, said Tuesday.
Singapore’s NODX dropped 14.6% on-year in 2Q19, hurt by lower shipments of both electronics and non-electronic products, Enterprise Singapore said Tuesday.
Singapore’s GDP growth forecast has been cut to 0.0 percent to 1.0 percent for 2019, amid the escalation of the U.S.-China trade war, the MTI said Tuesday.
Hi-P reported Thursday its second quarter net profit rose 16.9% on-year to S$14.38M as a change in product mix and better cost management boosted margins.
Singapore Airlines reported Wednesday its fiscal 1Q net profit dropped 20.7% on-year to S$111 million on higher estimated losses from Virgin Australia.
Maybank KimEng downgraded DBS to Hold from Buy, citing increased uncertainty from slower economic growth, potential rate cuts and “souring asset quality.”
DBS is expected to report its 2Q19 earnings grew on-year, but analysts expect the quarter may mark the peak for the bank’s net interest margin.
Sabana REIT reported Thursday its second quarter net property income dropped 4.2% on-year to S$12.04M after the divestment of the 9 Tai Seng Drive property.
AIMS APAC REIT reported Thursday its fiscal 1Q net property income rose 18.1% on-year to S$22.94M on lower property operating expenses and higher revenue.
HPHT reported Wednesday its second quarter net profit fell 19.7 percent on-year to HK$136.5 million amid a hit from the ongoing U.S.-China trade war.
Mapletree Industrial Trust reported Tuesday its fiscal 1Q net property income rose 12.2% on-year to S$77.92M on revenue contributions from new projects.
ESR-REIT reported Monday second quarter net property income jumped 103.9 percent on-year to S$47.8 million, broadly in line with forecasts from Daiwa.
SATS reported Thursday its fiscal first quarter net profit dropped 14.4 percent on-year to S$54.7 million amid amid trade uncertainty.
Fish breeder Qian Hu reported Wednesday its 2Q19 net profit surged 61.6% on-year despite lower sales of pet fish, amid a boost from its edible fish segment.
Global fund managers were a tad less pessimistic, but they continued to fret over economic risks, the BofA-ML fund manager survey for July found.
Maybank Kim Eng cut its outlook for Singapore economic growth Friday after second-quarter data came in worse than expected, with a rising recession risk.