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Author: traderhub8   |   Latest post: Fri, 16 Aug 2019, 3:29 PM

 

Phillip Capital Morning Note - 13 Aug 2019

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Singapore slashes economic growth forecast to 0-1% for 2019.

HRnetGroup on Tuesday posted a 11.5 per cent fall in net profit to S$11.5 million for the second quarter, from S$13 million a year ago on the back of lower margins from flexible staffing. Gross profits were slightly lower mainly due to the inclusion of government contracts which carry lower margins, the mainboard-listed recruitment firm said.

GS Holdings on Monday reported a net profit of S$5.49 million for its financial year's first six months ended June 30, reversing from a S$1.24 million loss for the year-ago period.

Mainboard-listed consumer electronics part maker CDW Holding warned on Monday that it is likely to report a consolidated operating loss for the first six months of its financial year ended June 30, 2019.

Wall Street stocks finished a bruising session sharply lower Monday as worries about slowing growth and the protracted US-China trade war hit banking shares and the broader market.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR

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