STI profit growth to settle at 4.5% in 2024: RHB
Investors were advised to maintain exposure to defensive stocks and go with a bottom-up stock picking strategy at the Straits Times Index (STI) next year as corporate earnings growth is seen losing momentum, RHB Group said.
In a recent note, RHB analyst Shekhar Jaiswal predicted STI’s earnings per share (EPS) to rise by 4.5% next year, while the stocks under its coverage are projected to post an EPS growth of 8.7%.
The outlook has weakened compared to the estimated 14.5% market cap-weighted EPS growth for full year 2023, according to RHB.
Grab overcharges 40K+ passengers due to wrong ERP rates
SINGAPORE: The Land Transport Authority (LTA) and the Public Transport Council (PTC) issued a statement on Friday (Dec 22), saying that more than 40,000 customers who used the Grab app to get a ride between Nov 20 and Dec 4 had been overcharged.
The app had used outdated Electronic Road Pricing (ERP) rates during this time, applying the wrong rates to 60,787 trips. The two agencies were alerted to overcharged rates when some passengers provided feedback.
50% Singaporeans think 2024 will be bad, challenging year — IPSOS survey
SINGAPORE: A recent survey conducted by global market research consultancy Ipsos has found that nearly half of Singaporeans have what may be considered a pessimistic outlook on the coming year and expect 2024 to be more challenging than 2023.
Ipsos surveyed more than 25,000 people in 34 countries worldwide to understand people’s impressions of the past year and their expectations for the upcoming one. 500 Singaporeans participated in the survey.