Singapore retail sector kept at ‘neutral’ by OCBC, picks Sheng Siong, Thai Bev
By Mei Ling Tan
1 min read
OCBC reiterates its “neutral” stance on Singapore’s retail sector, but says opportunities exist in companies that are able to weather the current gloomy sentiment.
The house notes that the year has started on a bleak note with volatile stock markets and a World Bank report flagging continued fears over developing economies, especially China.
Singapore reported stronger fourth quarter growth, but the economy logged its lowest pace of growth in six years in 2015.
OCBC believes its “picks in the sector exemplify stability and are able to ride out the gloomy sentiment.”
OCBC has “buy” recommendations on Sheng Siong Group, QAF and Thai Beverage.