No more speculation. No more rumours. No more testing of the waters. On Monday at 3:30pm we will find out how the Singapore government plans to reconcile its expenditure with revenues. Yes, it’s annual Budget time….
…. So how will revenues be raised to cover increased spending. Will it be income tax? GST? Capital gains tax? Inheritance tax? We will find out soon enough.
Meanwhile, life goes on in the corporate world. Sembcorp Industries (SGX: U96) will report full-year numbers on Thursday. In November, the industrial conglomerate said net profit slumped 37% on lower revenues, a write-down at its utilities business and higher financing costs.
Wilmar International (SGX: F34) said a good performance in oilseeds and grains was undone by weakness in tropical oils and sugar in the third quarter. Profits at the integrated farmer slipped 6%, while revenues ticked up o.4%. The company said it is optimistic about the future of Asia.
Defence contractor, Singapore Technologies Engineering (SGX: S63), posted a 67% jump in third-quarter earnings in November. Revenues were unchanged. The bottom line was boosted by lower expenses and the absence of an exceptional impairment charge.
Genting Singapore (SGX: G13) said stronger VIP and premium mass business volume boosted revenues 8% in the third quarter. That together with a drop in the cost of sales helped to bolster operating profit by 24%.
On the economic front, Japan will report January inflation numbers. In December consumer prices rose 1%, which was the highest inflation rate since March 2015. Prices were driven up by a jump in the cost of food.
Singapore will report inflation numbers too. The January headline inflation rate could show an uptick from 0.4% to 0.6%. December inflation was lower than expected because food and transport went up at a slower pace. There was also a fall in the cost of housing and utilities.
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