And here’s the silver lining in property stocks.
Flaps of political wings in Brazil are setting off a storm around Singapore’s Sembcorp Marine. Through Monday, shares in the state-run builder of offshore oil rigs have already dropped around 10% in 2016. The weak oil price doesn’t help, but a more immediate issue is the corruption scandal enveloping Brazil’s national oil giant Petrobras. Read more here.
Singapore Exchange Ltd. is reviewing a 13-year-old rule requiring listed companies to provide quarterly financial reports in light of moves by other regulatory jurisdictions including the U.K. to drop the practice. “We are aware that there are strong proponents and arguments on both sides of the quarterly reporting debate,” SGX said in an e-mail Monday. “The arguments need to be viewed against a regulatory landscape that has changed since 2003. We will consult the public if there is to be any change in the listing rules.” Find out more here.
While Singapore property stocks have taken a hit, DBS Vickers Securities says some sectors may still offer good returns. DBS said it expects the retail sector to remain resilient even as rents and prices are expected to drop across most major real estate sub-sectors due to the modest economic outlook. Read more here.
Do you know more about this story? Contact us anonymously through this link.