The Week Ahead: DBS Group Steps Into The Fray

In a holiday-reduced trading week, Singapore’s largest bank DBS Group (SGX: D05) will step into the fray, when it reports quarterly numbers. The bank recently attracted unwanted attention, after oil-services customer, Swiber (SGX: AK3), decided to wind up the company but then changed its mind abruptly.

Singapore Telecommunications (SGX: Z74) is pencilled in for results too. In May, Singtel said revenues slipped 6% but bottom-line profits inched up 0.8%. The telecom company, which has a sizable operation in Australia, held its full-year dividend at 17.5 Singapore cents.

A couple of farmers, namely Wilmar International (SGX: F34) and Golden Agri-Resources (SGX: E5H), and a brace of property companies, City Developments (SGX: C09) and Global Logistics Properties (SGX: MC0), have also been chalked up for quarterly reports.  The outlook is cloudy for Singapore property outfits, following a drop in profits at property giant CapitaLand (SGX: C31).

There are worries that ComfortDelGro (SGX: C52) could be feeling the heat from taxi disruptor, Uber. It will deliver its report card on Friday. Whilst CDG’s taxi operation is quite sizeable, its buses account for around half annual revenues and operating profits.

On the economic front, the US Retail Sales numbers will be eyed for signs that American consumers are still in fine fettle. In June, retail sales increased 2.7% compared to a year ago. It was still below the long-run average of 4.4%, though.

China’s Balance of Trade will be put under the microscope again. It widened to US$48 billion, as imports fell by more than the drop in exports. China’s retail sales have also been the focus of attention. In June, they rose 10.6%, as consumers continued to drive the rebalancing of the world’s second-largest economy.

And finally, Tuesday is National Day. Majulah Singapura!

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