Singapore Stock Strategy - Maybank Research 2022-12-14: Reflections 2022 & Sector Picks For 2023

• 2022 was bad, it also had silver linings – For many investors, 2022 was an annus horribilis. Dislocations brought about by invasion, interest rates and inflation drove volatility and torpedoed valuations.
• Nevertheless, underneath these headlines there were notable positive developments that promise to drive long-term earnings and valuations higher. These largely fell into three categories:
  1. - Read this at SGinvestors.io -
  2. reorganization amidst deglobalisation; and
  3. constructive policy shifts.
• In the long term, we believe the following SG stocks could be key beneficiaries from these trends.
  • AEM (SGX:AWX),
  • Bumitama Agri (SGX:P8Z),
  • ComfortDelGro (SGX:C52),
  • - Read this at SGinvestors.io -
  • DBS (SGX:D05),
  • Frasers Centrepoint Trust (SGX:J69U),
  • First Resources (SGX:EB5),
  • Raffles Medical (SGX:BSL),
  • Sembcorp Industries (SGX:U96),
  • SingTel (SGX:Z74),
  • ST Engineering (SGX:S63),
  • UMS (SGX:558),
  • Venture Corp (SGX:V03).

Pivotal developments through the year of 2022…

• Read more at SGinvestors.io.

Thilan Wickramasinghe Maybank Research | Eric Ong Maybank Research | Kelvin Tan Maybank Research | https://www.maybank-ke.com.sg/ 2022-12-14 SGinvestors.io

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