UOB

Real estate sector will be mildly hit whilst global firms may expect problems from corporate tax.

GDP growth slowed down to 3.6% in 2022.

The revival will boost the travel and tourism sector in Singapore.

UOB expects the budget to focus on navigating Singapore through an uncertain year.

Some banks posted 49% year-on-year growth

RHB and UOB said this is a precautionary measure if core inflation accelerates.

NIMs will rise but the expansion could decelerate due to higher funding costs.

CapitaLand Investment increased by 1.58%.

The distribution rate will reset on 19 January 2028 and every five years thereafter.

Inflation slowly eased in October and November 2022.

Investments in AI are at an accelerating pace for DBS, UOB, and OCBC.   Banks in the Lion City have been deploying AI and big data at an accelerating pace, analysts from Maybank said.   Amongst the banks that are investing in these technologies are DBS, OCBC, and UOB.   For instance, DBS allocated $1b annually for the past four years. In fact, the bank sent out 30 million personalised insights to 3.5 million customers.   Another bank investing in such tech is UOB, which sought to spend $500m to scale digital offerings until 2026, on top of the average $535m spent on technology yearly in the past four years.   OCBC also made its technological investments such as the AI lab it already launched in 2019.    “These investments are now reaching commerciality, enabling the banks to leverage customer data and relationship-driven insights,” read the report.   What these advancements are doing is to allow banks to leverage customer data as well as relationship-driven insights.   For example, in retail banking, it is initially translating into serving up personalised product offerings including discounts and targeted deals.   The advanced tech also offers customised insights on customer spending habits and automated assistance on payments and subscriptions are becoming standard offerings on their digital apps.

CapitaLand Integrated Commercial Trust was the top stock with a 4.75% growth.

RHB said there will be tailwinds from hikes in federal funds rate.

The broker said the two stocks are expected to post robust revenue growth.

Big ticket item transactions are expected in the remaining months of 2022.

UOB forecasts a 0.7% GDP growth rate.