Next Week’s News Today: All Eyes On Singapore Telecommunications

It is another holiday-shortened trading week, next week. Tuesday 10 November is Deepavali.

The earnings seasons also moves into a lower gear next week. Top of the agenda, though, is likely to be Singapore Telecommunications (SGX: Z74), which will report on Thursday. In August, SingTel said its entire global mobile customer base rose by 8% to 565 million customers. It added that demand for data is increasing exponentially.

Also on tap are several Singapore farmers that include Wilmar International (SGX: F34) and Golden Agri-Resources (SGX: E5H). In the second quarter, Wilmar said sales dropped 11.7% to US$9.28 billion, while net earnings jumped 18.2% to US$201.8 million. However, Golden Agri-Resources confessed that first-half revenues fell 14%, while bottom-line profits plunged 58%.

Genting Singapore (SGX: G13) has numbers to report next week. The integrated resort owner swung into the red in the second quarter on the back of unfavourable conditions in the gaming industry. But things could be looking up following positive news from rival casino operator, Sands. The US casino owner said profits at Marina Bay Sands were up by more than 10%. They were driven by “healthy” VIP volume.

ComfortDelGro (SGX: C52) will reveal all next week. In the second quarter, it reported a broad-based increase in revenues. However, it warned that the environment in the countries it operates is “challenging”. It added that it expects competitive pressures to “intensify”.

Turning to economic matters, the industrial production numbers and retail sales figures from China could be closed watched next week. Industrial-production growth, which has been the workhorse of the Chinese economy, fell to just 5.7% in September. The slack has been taken up by retail sales, which has been growing in the double digits.

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