Singapore Stock Strategy - UOB Kay Hian 2024-04-08: Higher-for-a-lot-longer Interest Rates ~ Some Companies To Suffer, Some To Benefit

Singapore Stock Strategy - Higher-for-a-lot-longer Interest Rates ~ Some Companies To Suffer, Some To Benefit

Singapore Stock Strategy - UOB Kay Hian Research | SGinvestors.ioBumitama Agri (SGX:P8Z)
  • We view Singapore corporates’ debt levels as manageable across the companies we cover, with free cash flow generation forecast to remain strong in 2024. Nevertheless, some companies’ profit margins could erode in 2024 should interest rate cuts be deferred into 2025, e.g. Wilmar, City Developments, CapitaLand Investment, Sembcorp Industries and Keppel.
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Potentially higher for a lot longer?

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  • Even with three rate cuts in 2024 and 2025, the Fed’s key benchmark borrowing rate would stay at the highest level since 2007, which could impact Singapore companies.

Manageable debt levels.

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Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @

Adrian LOH UOB Kay Hian Research | Singapore Research Team UOB Kay Hian | 2024-04-08

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