Dear all,
Hope you had a restful weekend. I took one week break in overseas before resuming my work. The internet here is really bad I ll just write something light to start the week.
Since the start of May, STI has been falling off its high of (3500) and broke 3400 psychological support to close at. P/E ratio stands at undemanding 13.3. Despite showing significant progress in its road to economic recovery, till date it has not cross the pre-financial crisis level of 3900.
I ll discuss two reasons affecting the performance of STI and some updates to my blog.
Falling oil prices
KeppelCorp, SembCorp and SembMarine are STI blue chips with significant exposures to energy sector. As expected, all reported weaker earnings with falling oil prices. While we were expecting some cushioning effect as SembCorp Industries derives its revenue from three source of businesses: utilities, marine ......