Thursday, September 5, 2013

Sept 5: SIA, Singapore's economy, S-REITs

Singapore share prices ended 1.3% lower on Wednesday. The blue-chip Straits Times Index (STI) lost 39.36 points to end at 3015.42. Here are some factors and company news that could affect the market this Thursday morning:

Singapore Airlines will be flying to Shanghai using the larger A380 for five flights per week, boosting its overall seat capacity by 12%. The A380 will be used from the start of the northern winter season, from October 27, 2013.

Singapore's economy forecast: The 19 private-sector economists and analysts who responded to the Monetary Authority of Singapore's survey in August expect Singapore's gross domestic product (GDP) to grow 2.9% in 2013 - up from the 2.3% median forecast in the June survey. The government's GDP growth forecast is at 2.5-3.5% this year.

Moody's Investors Service says the 13 Singapore Real Estate Investment Trusts (S-Reit) that it rates are insulated from rising interest rates over the next 12 months because more than half their outstanding debt is tied to fixed interest rates.

Property: A 22,800 square feet freehold site on Amber Road is on sale, with the owner expecting offers in excess of $63 million, marketing agent Jones Lang LaSalle said on Wednesday.

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