The Week In Numbers: DBS Beats The Field

Singapore’s biggest bank, DBS Group (SGX: D05) showed its two Singapore peers a clean pair of heels. Whilst the bottom-line was down 5% to S$1.2 billion, core earnings were up 6%. DBS Group also reported a rise in Net Interest Margin to 1.85%.

The Singapore market could be set to welcome another Real Estate Investment Trust. Canadian financial outfit Manulife Financial Corp has revived its plans to list on the Singapore Exchange. It is hoping to raise up to US$470 million after filing an amended preliminary prospectus with the Monetary Authority of Singapore.

The International Monetary Fund is at it again. It warned that Asia is facing severe headwinds from a weak global recovery, slowing global trade and China’s growth transition. Nevertheless, it still expects growth in Asia-Pacific economies to be about 5.25% during 2016 to 2017.

The latest Purchasing Managers Index (PMI) could signal a contraction for Singapore’s economy. The reading of 49.4 implies that the economy is contracting. Confusingly, the PMI compiled by the Singapore Institute of Purchasing & Material Management (SIPMM) suggested a broad-based recovery in activity.

And finally, a young man who tried to take a selfie with the statue of a 16th century Portuguese king ended in disaster. He accidentally toppled 126-year-old statue of Dom Sebastiao and sent it crashing to the ground and shattered.

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