On his overweight calls, Jaiswal says that the additional $600 community development council (CDC) voucher, $200-$400 in cash as one-off cost-of-living special payments for eligible adults and additional one-off rebates for eligible HDB households will help support consumption demand, especially in the mass market and downstream sub-segment.
The Budget 2024 saw a “comprehensive” set of measures to ensure Singapore will deliver a 2-3% annual GDP growth rate over the next decade, and to help Singaporeans weather the impact of higher costs, according to RHB Bank Singapore.
Following this, RHB’s analyst Shekhar Jaiswal has an “overweight” call on the consumer, industrials, manufacturing & tech, REITs (hospitality, industrials office & overseas), and transport sectors. Meanwhile, he has a “neutral” call on the financial, plantations, healthcare, real estate, retail REITs and telecommunications sectors.
