28 Dec '11, 10pm

SingTel (All) Banks, telcos said to be safe bets in 2012

SINGAPORE - Singapore banks and telcos have been pitched as safe bets for investors next year - away from more volatile sectors such as commodities and property. Analysts expect the wider market to dip further in 2012, before a rebound later in the year. A decline of 16 per cent thus far, makes Singapore the worst performer in Southeast Asia. It is about on par with Japan's decline but not as steep as the drop in Hong Kong, India or mainland China. Company valuations have suffered in lock-step with the slide, with Singapore stocks trading at around 1.2x book value, which is now below the four-year average of 1.5x, says OCBC Research. Residential property developers are expected to remain under pressure. The sector underperformed this year - down about 40 per cent on year following recent unexpected cooling measures by the government, and slower foreign investment. Offshore...

Full article: http://www.todayonline.com/Business/EDC111229-0000068/Ban...

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