Singapore's latest earnings season is tapering off with over 300 companies having given investors the chance to do a reality check.SINGAPORE's latest earnings season is tapering off with over 300 companies having given investors the chance to do a reality check.
"Generally speaking, macroeconomic and trade headwinds put pressure on Singapore listed companies at the end of 2018, as many companies suffered unrealised fair value losses in investment securities and a challenging operating environment," said CMC Markets' Margaret Yang. Singapore's three banking bigwigs - DBS, OCBC and UOB - recorded full-year record profits, but fourth-quarter numbers were moderated by December's global market sell-off.
After drowning in the red for three quarters, Sembcorp Marine turned around for the final quarter with its full-year net loss of S$74 million beating analyst estimates, thanks to a surprise pick-up in the marine business and a recovering India power operations.