RHB Group Research

Singapore economy

Labour market could ease in 2023 after tightness last year: Analysts

Unemployment rates could trend higher in 2023 with an uptick in retrenchments but is expected to remain within pre-Covid levels.

Broker's Calls

RHB expects plantation earnings to be mostly in-line for 4QFY2022, maintain 'neutral'

The analysts continue to like integrated players like Wilmar.
Analysts see Keppel REIT benefitting from office rental upcycle though higher interest costs may be a drag - THE EDGE SINGAPORE

Broker's Calls

Analysts see Keppel REIT benefitting from office rental upcycle though higher interest costs may be a drag

The analysts' target prices range from 85 cents to $1.15. Of the analysts' reports, OCBC was the only one with a "sell' call.
Economists mixed on fiscal outlook for FY2023 Budget; UOB sees 0.8% deficit while RHB forecasts 1.0% surplus - THE EDGE SINGAPORE

Budget 2023

Economists mixed on fiscal outlook for FY2023 Budget; UOB sees 0.8% deficit while RHB forecasts 1.0% surplus

UOB is forecasting a 2023 GDP growth forecast of 0.7%, while RHB sees Singapore's economy growing by 3.0%.
Analysts split on CDLHT even after FY2022 outperformance, China's reopening 'already priced in' - THE EDGE SINGAPORE

Broker's Calls

Analysts split on CDLHT even after FY2022 outperformance, China's reopening 'already priced in'

While CDLHT sports a strong recovery, Citi Research sees Far East Hospitality Trust (FEHT) as a better proxy for tourism.

Broker's Calls

RHB ups AIMS APAC REIT’s TP to $1.50 on 'good' 3QFY2023 results and positive outlook

Analyst Vijay Natarajan has increased his TP for AA REIT to $1.50 from $1.48 previously.
Analysts mixed on FCT's acquisition of 25.5% stake in Nex - THE EDGE SINGAPORE

Broker's Calls

Analysts mixed on FCT's acquisition of 25.5% stake in Nex

The analysts have kept their "buy" and "hold" calls with a target price range of $2.10 to $2.60.

Singapore economy

Analysts expect Singapore's industrial production to remain soft in 1Q2023

Singapore’s industrial production fell by 3.1% on a y-o-y basis in December 2022.

Broker's Calls

Sheng Siong stays defensive amid rising inflation and GST hike, analysts maintain 'buy'

Sheng Siong had shown sustainable growth in its gross margin over the years, proving its ability to pass rising costs.

Singapore economy

Analysts expect to see 'challenging' core inflation in 2023, further tightening cannot be 'ruled out'

All the analysts have kept their 2023 CPI forecasts unchanged.
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