Asia Economist and CEO, Centennial Asia Advisors

Manu Bhaskaran

Asia Economist and CEO

Centennial Asia Advisors

At Centennial Asia Advisors, we tell it like it is. We have no vested interests, no need for a China wall, and no reason to skew our outlook any other way. With over 30 years experience covering Asia’s political economy, you can be sure our conclusions and analyses are based on the unadulterated facts. Through years of fine-tuning our research methodologies, we deliver a quality of macroeconomic analysis few other houses can match.

Centennial Asia Advisors is an independent research and advisory firm that works with governments, multilateral institutions, financial firms and leading MNCs.

Economic Policy and Strategic Advisors

Macroeconomics

<ul><li>Returns on investment in Singapore companies have been declining gently in recent years, with the major determinants of returns losing strength, particularly profit margins. Trends in asset turnover and financial leverage are also hurting returns, though to a smaller extent.</li><li>Ultimately, Singapore’s capacity to generate superior returns is what undergirds its competitiveness. If this is weakening, it is a warning sign that competitiveness is at risk. This strengthens the case we have made for some time, that Singapore needs bolder policy changes if it is to adapt to the shifting sands of the global economy.</li></ul>

Returns on investment in Singapore companies have been declining gently in recent years, with the major determinants of returns losing strength, particularly profit margins. Trends in asset turnover and financial leverage are also hurting returns, though to a smaller extent.Ultimately, Singapore’s capacity to generate superior returns is what undergirds its competitiveness. If this is weakening, it is a warning sign that competitiveness is at risk. This strengthens the case we have made for some time, that Singapore needs bolder policy changes if it is to adapt to the shifting sands of the global economy.

Singapore: Analysis of Corporate Sector Returns Uncovers Warning Signs for the Economy

Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

Chief Economist & Political Strategist

REAL-Economics.com

With real GDP growing 3.6% in 2017, and property prices beginning to stir anew, Finance Minister Heng Swee Keat was able to report a revenue bonanza that gave him enormous fiscal headroom. Compared with a budgeted overall surplus of 0.4% of GDP, the actual outcome was a surplus of 2.1% of GDP (S$9.6bn). In 27 years of writing about Singapore’s budgets, I remember just three years in which the fiscal balance was worse at the end of the year than the projection at Budget time. Most years, the…

With real GDP growing 3.6% in 2017, and property prices beginning to stir anew, Finance Minister Heng Swee Keat was able to report a revenue bonanza that gave him enormous fiscal headroom. Compared with a budgeted overall surplus of 0.4% of GDP, the actual outcome was a surplus of 2.1% of GDP (S$9.6bn). In 27 years of writing about Singapore’s budgets, I remember just three years in which the fiscal balance was worse at the end of the year than the projection at Budget time. Most years, the…

Buoyant Economy Allows a Long Fiscal Look-Ahead

Economist

Richard Iley

<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/038/999/original/Screen%20Shot%202017-11-23%20at%206.59.46%20PM.png?1511425823" class="editor-image img-responsive" data-smartkarma-image-id="38999"></figure><div class="content-highlight">
Which Asian economy has seen the greatest GDP growth acceleration over the last year? As today's chart shows, there is no contest. Singapore, a key global bellwether and high 'beta' with respect to world trade's ongoing 'boomlet' has seen its GDP growth pick up by a full three percentage points after the revisions announced earlier today. Surging manufacturing production, up over 18% y/y, has predictably led the charge to the regional gold medal. 
Boosted by its hyper-competitive real exchange…
</div>


Which Asian economy has seen the greatest GDP growth acceleration over the last year? As today's chart shows, there is no contest. Singapore, a key global bellwether and high 'beta' with respect to world trade's ongoing 'boomlet' has seen its GDP growth pick up by a full three percentage points after the revisions announced earlier today. Surging manufacturing production, up over 18% y/y, has predictably led the charge to the regional gold medal. 
Boosted by its hyper-competitive real exchange…


Economist, Centennial Asia Advisors

Jason Tan

<ul>
<li>
Inflation stuck in low gear: Headline inflation increased 0.4% y/y in Aug 17, down a tad from 0.6% in Jul 17, and can be attributed to a fall of private road transport prices. Core inflation was 1.4% in August, down from 1.6% in July.</li>
<li>
Industrial production booming, up a staggering 19.1% y/y in Aug 17, after surging 21.2% in Jul 17. All manufacturing components increased except for general manufacturing (-0.6%). Gains were concentrated in electronics (38.7%) and biomedical manufacturing (25.1%)…</li>
</ul>



Inflation stuck in low gear: Headline inflation increased 0.4% y/y in Aug 17, down a tad from 0.6% in Jul 17, and can be attributed to a fall of private road transport prices. Core inflation was 1.4% in August, down from 1.6% in July.

Industrial production booming, up a staggering 19.1% y/y in Aug 17, after surging 21.2% in Jul 17. All manufacturing components increased except for general manufacturing (-0.6%). Gains were concentrated in electronics (38.7%) and biomedical manufacturing (25.1%)…


Singapore: Blockbuster Growth in 3Q17 – Even Better than We Thought a Week Ago

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

<ul>
<li>Singapore’s 20 largest capitalised Consumer stocks that report at least 80% revenue to ASEAN (including Singapore) have averaged comparatively softer gains in 2017 YTD, following strong average gains of 26% in 2016.</li>
<li>
Of the 20 stocks, the strongest performers in 2017 YTD were the two debutants- UnUsUal  which specialises in production and promotion of large-scale live events and concerts, and coffee-shop operator Kimly. Meanwhile, the two least performing stocks of the group in 2017 YTD - Sri…</li>
</ul>


Singapore’s 20 largest capitalised Consumer stocks that report at least 80% revenue to ASEAN (including Singapore) have averaged comparatively softer gains in 2017 YTD, following strong average gains of 26% in 2016.

Of the 20 stocks, the strongest performers in 2017 YTD were the two debutants- UnUsUal  which specialises in production and promotion of large-scale live events and concerts, and coffee-shop operator Kimly. Meanwhile, the two least performing stocks of the group in 2017 YTD - Sri…


Singapore's 20 Biggest ASEAN Consumer Plays

United States

iShares MSCI Singapore ETF is an exchange-traded fund incorporated in the USA. The ETF's objective seeks to provide investment results that correspond to the performance of the Singaporean market, as measured by the MSCI Singapore 25/50 Index. The ETF invests in a representative sample of index stocks using a "portfolio sampling" technique. SGX Trading Name: IS MSCI SIN 100US$

iShares MSCI Singapore ETF (EWS US)

Singapore: Analysis of Corporate Sector Returns Uncovers Warning Signs for the Economy

Returns on investment in Singapore companies have been declining gently in recent years, with the major determinants of returns losing strength,...

Manu Bhaskaran

Buoyant Economy Allows a Long Fiscal Look-Ahead

With real GDP growing 3.6% in 2017, and property prices beginning to stir anew, Finance Minister Heng Swee Keat was able to report a revenue...

Prasenjit K. Basu

Chart of the Day: Who's Got The 'Mo?

Which Asian economy has seen the greatest GDP growth acceleration over the last year? As today's chart shows, there is no contest. Singapore, a...

Richard Iley

Singapore: Blockbuster Growth in 3Q17 – Even Better than We Thought a Week Ago

Inflation stuck in low gear: Headline inflation increased 0.4% y/y in Aug 17, down a tad from 0.6% in Jul 17, and can be attributed to a fall of...

Jason Tan

Singapore's 20 Biggest ASEAN Consumer Plays

Singapore’s 20 largest capitalised Consumer stocks that report at least 80% revenue to ASEAN (including Singapore) have averaged comparatively...

Singapore Exchange Ltd (SGX)