On Thursday (27 Mar), our new Finance Minister delivered his inaugural Budget Statement. It was heartening to hear that there would be an expected overall budget surplus of S$3.4million in the first year of the new term of Government. That puts us in good stead bearing the bearish economic forecast for the year ahead.
With regards to Singaporean equities, UBS wrote that the "budget's impact on listed companies will be limited". "Further wage inflation should ease for the offshore and marine sector, while banks may see slower non-performing loan formation. Property developers will have to continue to contend with the market cooling measures, which remain in place for now."
If you wish to receive the research reports on SG Budget 2016, do drop me an email and I'll have them forwarded to you via email. Have a great week ahead!
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