MARKET UPDATES :
- WORKER layoffs in Singapore jumped to 3,500 in the third quarter from 2,410 in the second quarter as companies continued to restructure, according to the Ministry of Manpower’s latest Labour Market Report. But the jobless were quicker in finding another job as the rate of re-entry into employment within six months of redundancy improved for a second straight quarter.
- Oil prices sank to a fresh five-year low in Asia on Monday after a top OPEC official said the relentless plunge was not just because of a global supply glut. US benchmark West Texas Intermediate for January delivery fell 25 cents to US$57.56 while Brent crude for January was down one cent to US$61.84 in mid-morning trade. Most oil market observers attribute the price slump to a supply glut – spurred by rising US shale oil production.
- Singapore’s non-oil domestic exports probably grew in November from a year earlier, when sales of pharmaceuticals were poor, with the comparison against a low base helping shipments recover from October’s contraction. The median forecast in a Reuters poll of 10 economists was for a 3.7 per cent rise in exports in November from a year earlier. In October, there was a 1.5 per cent annual contraction.
- CapitaLand – “One CapitaLand” Strategy To Bear Fruit-:The streamlining of operations post CMA’s privatisation would help enhance CapitaLand’s competitive strengths in integrated developments, and thus narrow holding company discounts. CapitaLand is on track to deliver ROE target of 8-12% in the next 3-5 years.
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