It’s a big week for Singapore’s transportation sector with numbers from a port operator, an airport services outfit and a cab firm.
Hutchison Port Holdings (SGX: NS8U) posted a slump in third-quarter profits in October. Revenue fell nearly 7% because of weaker within Asia. The Hong Kong-based port operator said it will continue to focus on improving costs given the soft global trade outlook.
Airport services company, SATS (SGX: S58), reported a 9% drop in second-quarter earnings because of the absence of a one-time gain a year ago. But SATS said revenues was 4.2% higher, with gateway services up 6.3% and food solutions up 2.5%.
ComfortDelGro (SGX:C52) said third-quarter profits were down 2%. But revenues improved 8.5% with increased revenues from its existing business and contributions from new acquisitions.
Singapore’s biggest telecom operator, Singapore Telecommunications (SGX: Z74), said profits sunk in the second-quarter because of negative currency movements and lower contributions from Airtel and Telkomsel.
Singapore Airlines (SGX: C6L) was adversely affected by higher fuel costs in the second quarter. Profits sank 81%, even though sales rose 5.6%.
On the economic front, US headline inflation could have moderated from 1.9% in December to 1.6% in January. In December, my monthly consumer prices fell for the first time in nine months because of a slump in petrol prices.
China’s inflation rate could have edged up to 2% in January, after falling back to a six-month Low in December. The slowdown in inflation was due to a drop in non-food prices.
Meanwhile, the country’s balance of trade with the rest of the world could have narrowed to $35 billion on lower a drop in exports and an even bigger fall in imports.
Japan is expected to say that its economy grew at an annualised rate of 1.4% in the fourth quarter of 2018. That would be a sharp reversal of a 2.5% contraction in the previous quarter.
Malaysia will also report GDP numbers for the final three months of 2018. The economy could have expanded from 4.4% in the previous quarter to 4.6%.
And finally, Singapore will report retail sales for December. In November, they fell 3% on a slump in sales of computer and telecom equipment. It would be unusual not to see an uplift in a festivity-driven December number.
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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Director David Kuo owns shares in SATS.