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Thursday, January 31, 2013

Singapore’s earnings season likely mixed: NRA

Source: http://www.theedgesingapore.com/the-daily-edge/business/42540-singapores-earnings-season-likely-mixed-nra.html


Singapore’s earnings season is likely to offer a mixed showing, says Kevin Scully, executive chairman of NRA Capital.

He expects the electronics sector’s earnings to be poor, while property will likely have a good showing, depending on recognitions. But he adds, “that’s not important. That’s historical data. The focus will be on what they’re going to say about this year. The forward guidance is definitely more important than the results.”
He expects the electronics sector to remain weak until 2Q; “then, if there’s some signs of recovery, it might start to move up,” he says. “The property sector is difficult,” he says, expecting a blip up on the population expectations. The government has projected the city-state’s population will rise to 6.9 million by 2030, from the current 5.3 million.

“You have to overlay that with government concerns on affordability. I don’t think the government will let prices continue to rise because that’s a political issue. I think we can expect more measures to bring prices down,” Scully says. “The only sector I like is oil and gas, and I’m only looking at the exploration sector,” including rig builders and charterers.

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