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The Week In Numbers: Shockproof Singapore Banks

According to rating agency, Fitch, Singapore banks should be able to withstand a 45% drop in property prices. In its report Fitch also said it expects Singapore’s private residential property prices to weaken further as a large supply of new homes floods the market. Good news for DBS Group (SGX: D05); UOB (SGX: U11) and OCBC (SGX: O39) but not so good for property developers..

Oil discovery sunk to a 70-year low last year. According to oil consultant Wood McKenzie, just 2.7 billion barrels of new supply was found in 2015. It is reckoned that even less could be found this year, as companies pare back spending on oil exploration in the face of rising demand.

The Listing Authority Committee of the Singapore Exchange (SGX: S68) has given its blessing for dual-class shares in Singapore. But that is provided there is a compelling case for two classes of shareholders. It has also recommended that the voting differential should not be more than 10-to-1.

According to the Singapore Tourism Board around 8.17 million visitors arrived in the Garden City in the first half. That was 12.5% higher than last year. Arrivals from China leapt 55% to 1.47 million. In terms of spending, Chinese tourists spent the most, followed by visitors from Indonesia and India. Busy time for SATS (SGX: S58).

And finally, Russian astronomers picked up a curious radio signal from a star system 94 light years from Earth. The scientists have not published a study about the detection. But they plan to discuss it at the 67th International Astronautical Congress this month. ET phoning home – how exciting!

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Singapore Exchange has been recommended by Stock Advisor Gold. Motley Fool Singapore Director David Kuo doesn’t own shares in any companies mentioned.