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Global recession bottoming out despite further economic forecast cuts

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Author: Ravi Philemon

Global recession reaching its worst point with world GDP is now forecast to fall by 4.6% in 2020

Global economic forecast to fall by 4.6% in 2020 (Image: Wikimedia commons)

Fitch Ratings has made further cuts to world GDP forecasts in its latest Global Economic Outlook (GEO), but the slump in global economic activity is close to reaching its trough.

Global recession reaching its lowest point with world GDP is now forecast to fall by 4.6% in 2020

“World GDP is now forecast to fall by 4.6% in 2020 compared to a decline of 3.9% predicted in our late-April GEO. This reflects downward revisions to the eurozone and the UK and, most significantly, to emerging markets (EM) excluding China,” said Brian Coulton, Chief Economist, Fitch Ratings.

Fitch now expects eurozone GDP to fall by 8.2% in 2020 compared to a contraction of 7.0% in our previous GEO. This reflects incoming data that point to larger-than-anticipated falls in activity in France, Italy and Spain amid lockdowns that were more stringent than those in some other countries. Fitch now expects the GDP of Spain to fall by 9.6% (compared to -7.5% in the end-April GEO), by 9.5% in Italy (-8.0%) and by 9.0% in France (-7.0%) in 2020. The lockdown in the UK also looks set to last longer than previously assumed; with a sharp fall in GDP published by the Office for National Statistics for March, Fitch now expect the economy to contract by 7.8% this year (compared to -6.3% before).

Fitch expects output in EM excluding China to fall by 4.5% this year compared to a predicted fall of 1.9% before. This large revision reflects the deterioration in the health crisis in many of the largest EMs over the past month or so, including in Brazil, India and Russia. The biggest forecast cut was to India where Fitch now anticipate a 5% decline in the current financial year (ending March 2021) in contrast to an earlier forecast of growth of 0.8%. India has had a very stringent lockdown policy that has lasted a lot longer than initially expected and incoming economic activity data have been spectacularly weak. Infections accelerated sharply in Brazil and Russia from mid-April and Fitch now sees GDP falling by 6% in Brazil (revised from -4% in the previous GEO) and by 5% in Russia (-3.3%) this year.

China, US and Japan also reflect worsening global recession

Forecasts for 2020 GDP growth for China, the US and Japan are unchanged since late April at 0.7%, -5.6% and -5.0%, respectively. Fitch is also affirming itss forecasts for Australia, Korea and South Africa, so its assessments of global economic prospects are starting to stabilise, following a succession of downward forecast revisions in recent GEO updates.

“We foresee a ‘technical’ pick-up in global GDP growth to 5.1% in 2021 – with US and eurozone output rising by around 4% – but pre-virus levels of GDP are unlikely to be reached until mid-2022 in the US and significantly later in Europe. This is despite massive policy stimulus.” – Brian Coulton, Chief Economist, Fitch Ratings

This concurs with other evidence that the collapse in global economic activity may be close to bottoming out. A number of early monthly economic indicators for May have improved slightly on their April values and daily mobility data show consumer visits to retail and recreation venues have increased in the eurozone and the US since lockdowns started to be eased in late April/early May. Its weekly US growth tracker has edged up slightly in the past two weeks and is consistent with its earlier forecast of a 10% yoy decline in 2Q20. These are all tentative signs, but China’s recent experience suggests that activity will rise after lockdowns are eased. Industrial production is now back to December 2019 levels and fixed asset investment and credit growth are rising.

Stimulus packages may ameliorate global recession but return to economic normality is likely to be a slow and bumpy process

Moreover global macroeconomic policy stimulus has been increased further over the past month or so, beyond the already announced huge commitments. The US has announced an additional fiscal package valued at more than 2% of GDP (with more being discussed), Italy unveiled a second wave of easing measures, the UK extended its job-subsidy scheme, and Fitch now expects China’s general government fiscal deficit to widen to 11.2% in 2020 from 4.9% in 2019. Fitch predicts that global quantitative easing (QE) will reach USD6 trillion in 2020, equivalent to half of the cumulative QE purchases by the Fed, ECB, Bank of England and Bank of Japan combined in 2009-2018. This explosion in central bank liquidity has helped to secure a pick-up in bank credit to the real economy (specifically, to firms) in the past couple of months, a development that contrasts with the pattern in 2009.

Nevertheless, the return to economic normality is likely to be a slow and bumpy process. The rupture in the labour market – with US unemployment now expected to peak at 20% in May – and ongoing social distancing will weigh heavily on consumer spending post-crisis, while firms will be very cautious on capital spending.

Global recession could see taper off in 2021

“We foresee a ‘technical’ pick-up in global GDP growth to 5.1% in 2021 – with US and eurozone output rising by around 4% – but pre-virus levels of GDP are unlikely to be reached until mid-2022 in the US and significantly later in Europe. This is despite massive policy stimulus,” added Coulton.

An aggressive resurgence of the virus that necessitated greatly extended or renewed nationwide lockdowns would lead to an even worse outcome. Its downside scenario sees GDP falling by 12% in the US and Europe in 2020 and global GDP down by more than 9%.

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Manufacturing ranks top in resilience and set to thrive post pandemic

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Author: Ravi Philemon

Manufacturing and technology sectors to thrive post pandemic

  • Industrial sector to benefit from manufacturing rebound post-COVID-19 despite a near term contraction.
  • Technology sector expected to be the fastest-growing sector over the next three years, driving office demand.
  • Hospitality sector has been the most volatile historically and could see potential strong rebound in tourism after COVID-19 as long term growth drivers in Singapore remain resilient.
  • Manufacturing ranks top in overall resilience and rebound ranking, on strongest GDP rebound, as well as second highest stock returns and earnings outlook.
manufacturing

While the manufacturing sector is expected to contract in the near-term due to labour shortages amidst more stringent restrictions during COVID-19, our research suggests a strong rebound in the sector as Singapore emerges from the pandemic and Circuit Breaker measures. This bodes well for the industrial sector.

Colliers International, a global leader in commercial real estate services, on May 29 released its Resilience and Rebound Ranking Report, identifying the most attractive industries over the past crises, the implications and opportunities for commercial real estate sectors post-coronavirus pandemic.

In assessing seven core trade sectors in Singapore – manufacturing, financials, construction, professional services, hospitality, retail and technology – Colliers Research considered three factors, GDP growth, stock index returns and earnings outlook.

Ms. Tricia Song, Head of Research for Singapore at Colliers International, said, “We recommend investors to focus on prime offices and industrial buildings, such as hi-spec space and business parks. Hotels and retail malls could also provide near-term opportunities. Occupiers should embrace technology and more flexible work strategies in the longer term.”

Top Resilience and Rebound Ranking of Core Trade Sectors
Colliers’ Research ranks the resilience and rebound potential of core sectors is based on three metrics: historical GDP performance and stock index returns during and post other major crises, as well as future earnings growth.

#1 Manufacturing: Manufacturing ranks top in our overall resilience and rebound ranking, on strongest GDP rebound, as well as second highest stock index returns and earnings outlook.

#2 Technology: Technology ranks second in our resilience and rebound ranking, driven by second highest GDP growth resilience, highest stock index returns and strongest earnings outlook.

#3 Hospitality: Ranking third, Hospitality is among the most volatile sectors, having experienced significant effects during the crisis, with a strong rebound expected to follow. Looking ahead, earnings growth is expected to be strong, giving it a favorable tilt.

Market Implications and Outlook

Industrial sector to benefit from Manufacturing rebound post-COVID-19

While the manufacturing sector is expected to contract in the near-term due to labour shortages amidst more stringent restrictions during COVID-19, our research suggests a strong rebound in the sector as Singapore emerges from the pandemic and Circuit Breaker measures. This bodes well for the industrial sector.

Rick Thomas, Head of Occupier Services for Singapore at Colliers International, said: “The strong rebound of the manufacturing sector expected post pandemic, together with increasing technology adoption, e-Commerce sales, delivery service needs, data broadband usage and other online activities, will directly benefit the sector across business parks, logistics spaces and data centres.”

Increasing Technology adoption to drive demand for Offices

The technology sector is likely to continue to be the main driver of office demand as it is expected to be the fastest growing sector over the next three years based on earnings growth. Colliers Research forecasts CBD Grade A office rents to rebound 2.6% in 2021 after a 5% decline this year.

Jerome Wright, Senior Director, Capital Markets and Investment Services for Singapore at Colliers International, said: “Given the advances in technology and the current trends allowing far greater flexibility across the working environment, fringe office and out of town (cost effective business space) are likely to represent strong growth opportunity with a limited supply.”

Strong tourism rebound a boost for Hotels

Hospitality is one of the most-affected sectors currently. However, based on historical experience, we expect a rebound in tourist arrivals after the pandemic subsides, which bodes well for hotels and tourism-related businesses. In the longer term, the demand drivers for hospitality in Singapore remain resilient, including tight near-term supply and more tourist attractions.

“Investors should focus on prime offices and industrial buildings, while occupiers should embrace technology and more flexible work strategies in the longer term.”

Colliers Research assesses seven core trade sectors in Singapore – manufacturing, financials, construction, professional services, hospitality, retail and technology – and rank their resilience and rebound (R&R) potential from the coronavirus (COVID-19) pandemic based on three key metrics:

  • Historical GDP growth;
  • Stock index returns during and post-major crises; and
  • Future earnings growth.

In this special Radar report, Colliers identifies and shares deeper insights into the most resilient industries, with recommendations for investors and occupiers on the opportunities that have surfaced for commercial real estate sectors after COVID-19.

Mr Paul Ho, chief mortgage officer at iCompareLoan, said, “when considering premises for manufacturing activities, be mindful that commercial properties obviously command more rents than industrial properties.”

He added, “any newer industrial properties sitting on Business 1 (B1) zones are increasingly sophisticated and looking like Commercial buildings. In fact you might not even tell them apart unless you refer to the URA Zoning Master Plan. Since industrial B1 zones are better located nearer to housing estates or regional centres and no longer mainly in Jurong, there is substantial advantage to break the zoning rules.”

Mr Ho noted that with the rolling out of the 5G wireless network and with Singapore’s being at the forefront of smart nation initiatives, the industrial market as a whole will remain optimistic.

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Cash problems? Why you should not panic but act diligently

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Author: Ravi Philemon

Have you just been blindsided by an unexpected cash problems and don’t know what to do? Whether it’s a job loss, medical expenses, or an emergency home repair, an unexpected change in your financial situation can be incredibly stressful. The bills still need to be paid, the utilities need to stay on, and you need to put food on the table, so how should you cope with a cash problems?

By: Phoenix Lee/

cash problems

Image credit: aenri05/Flickr

Evaluate the Cash Problems

Take a moment to sit down and carefully evaluate your cash problems. Running around in a panic won’t solve anything and only lead to additional stress. Understandably, you probably have a million things running through your head and being cool and collected is the last thing on your mind, but the ability to carefully evaluate your situation will ensure you make the right choices.

First, determine what caused these cash problems. Before you can look at ways to resolve the situation, you need to understand the cause. Is it a sudden loss of income? Mounting expenses that you can’t keep up with? While each situation can lead to similar burdens, your plan of attack will likely need to address the root of the problem to be effective in the long run.

Prioritise Expenses
Not all expenses are created equal. There are certain bills that need to be paid before others. Some of the most important items to put at the top of your list should be food and shelter. Is it worth risking foreclosure to keep your cable bill current? Obviously not, so carefully examine all of your expenses and determine which are the most important. It isn’t worth paying something that will put you in jeopardy of being unable to pay for a necessity.

Once you’ve established which bills are the most important, you can begin looking for expenses to cut out of your budget. While it might not be much fun to cut out some of the things you’re used to, it might be what’s necessary to keep you from slipping into an even deeper financial hole.

Look for ways to cut back or eliminate things completely. For example, if you regularly go out to eat, consider cutting back or eating at home entirely. It doesn’t take much. If you were to only find five different ways to save $20 each month, you’ve instantly freed up $100 that can go towards your important and necessary expenses.

Negotiate With Lenders
If you’re having trouble with credit cards, medical bills, or even your mortgage, the first thing you should do is call your lender. Believe it or not, it’s in their best interest to help you make your payments, even if it means a lower interest rate or extending the terms. People so often wait until they already get severely delinquent before contacting their lenders, and by then they aren’t as willing to work with you. If you know that money is getting tight and you might need help, call them before you get behind.

Calling your credit card company can result in a lower interest rate, and in some cases may even lead to a temporary delay in making payments. Reaching out to your mortgage company can lead to a restructuring of your loan. And even when it comes to your utilities like electricity and gas, they usually offer programs to help keep the lights on and make payments affordable if you’re experiencing a hardship. Don’t wait for the threatening letters to start coming in the mail before taking action.

When facing cash problems, Find Extra Money
Ideally, you want to have some money set aside in an emergency fund to help pay for any unexpected expenses, but this isn’t always possible. Where do you turn when you’ve exhausted your savings account?

You can always try to get a loan or use credit cards, but these may only make the problem worse. While borrowing money can provide quick access to cash, it can also come with high interest rates and a new monthly payment. If you’re experiencing a financial hardship for an extended period of time, you may find yourself in a downward spiral that is nearly impossible to recover from.

Another option could be to check with friends and family. Nobody likes to ask for money, but a little bit of help from a loved one might be all that you need to get through the rough patch. Of course, this can also put a strain on some relationships, so proceed with caution.

And finally, you may have some money available via investments or in retirement accounts. Generally speaking, withdrawing money from your retirement accounts is a bad idea as it can put your retirement security in jeopardy, but it could also be enough to keep you from going into even further financial trouble.

Take Advantage of Available Assistance
When it comes to a financial hardship, there may be assistance out there for you. From Comcare Childcare Subsidies to the various Financial Assistance Schemes, there are several Government run programmes to assist you. It is best to approach your nearest social service centres if you need help.

Planning for the Next Cash Shortage
If you’ve made it through difficult times in the past and want to minimise the impact in the future, there are a few things you can do to prepare. Start with an emergency fund. This is exactly why they are called emergency funds. A good rule of thumb is to have a few months worth of expenses set aside in the bank to help pay for unexpected expenses or pay the bills if you lose your job. Obviously, the more you have saved, the better off you’ll be. But even a month or two worth of expenses saved up can buy you some time while you get things back on track.

You also want to consider insurance. Most forms of insurance are a safety net to cover expenses. Having a plan in place before a financial crisis strikes will take a lot of weight off of your shoulders. Knowing what expenses you have and how you’ll pay for them will make a stressful situation that much easier to cope with.

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Refinancing queries will help you find best solutions for new loan

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Author: Ravi Philemon

When considering refinancing queries, know that financial institutions will carefully assess the risk of dealing with you before suggesting solutions

By: Hitesh Khan/

A strong management team
Before you venture out with refinancing queries and choose your lender for solutions, be sure you clearly understand their expectations. Any financial institution will want to verify that your company is well managed. Being profitable is one thing, but ensuring that you have the team in place to sustain growth is another. Start by demonstrating that your team members are competent and well-qualified to do the job.

Refinancing queries

image credit: Alpha Stock Images

Before seeking business solutions for your refinancing queries, it would help to prove your successful track record by communicating past achievements and the soundness of your plans.

Comprehensive financial strategy
If you have a cash-flow problem, you need to show how you plan to avoid a recurrence of this situation. Present conservative financial forecasts to include different scenarios, i.e., best-case and worst-case. Be sure to clearly communicate how well you understand your financial needs and the factors affecting your business success.

Using credit wisely requires a lot of common sense and discipline

An important part before seeking business solutions for your refinancing queries is to understand how your level of risk is determined by assessing basic financial concepts, such as working capital, collateral and balance sheet.

Keep in mind that forecasting can be a complex task. It may help to rely on financial specialists to help you develop an effective business plan.

Proactive growth strategy
You need to demonstrate that you understand the risks and opportunities for your company. Your strategy is a result of looking closely at internal resources, the market, the economy, competitors, marketing and distribution channels and demographics.

A clear restructuring plan
If you are dealing with temporary difficulties, you should provide a restructuring plan. More detailed than a financial analysis, it includes measures to rectify an unprofitable position. The plan can present business refinancing solutions as one way to re-establish positive working capital by improving the terms and conditions of your current loans. Restructuring can include the sale of non-essential assets and inventory, which may generate additional one-time revenue.

A restructuring plan performs the same function as a business plan and must therefore serve as a guide for continuing operations. Like a financial forecast, it will be more convincing if it contains input from outside consultants who can help you with what can be a complex process.

Proof that you can repay
To obtain financing, you must prove your repayment ability, particularly if your company is in difficulty. Your earnings forecast should be conservative to avoid giving the lender any cause for concern. Before any new loan is approved, the financial institution will double-check your business credit and capacity.

Your chances of obtaining business refinancing are greater if you have:

  • good credit history by always fulfilling the repayment conditions on your previous loans,
  • credible financial forecast. and
  • an honest and courteous relationship with your account manager.

Personal guarantee is a must for most small business loans but should be made with caution

If you do feel that the debt you have might be a problem, here are a few tips for improving the situation:

  • Determine how much debt you have, and put together a plan for repaying it. If you’re currently paying the minimum amount required on your loans, stop doing so, and pay the maximum you’re able to. If you pay the minimum, it will take you 20-40 years to pay off the balance, meaning you’ll pay more than five times the actual debt in interest.
  • If you have multiple loans, pay off the ones with the highest interest rates first.
  • Consider refinancing to a loan that offers a lower interest rate.
  • If you’re a homeowner, consider a home equity loan. The rate will usually be significantly lower than that of a personal loans, and the interest on these loans is generally tax deductible.
  • Avoid luxuries, impulse buying, and any unnecessary spending.
  • Keep track of your expenses so you can determine where your money is going and keep a tight lid on expenditures that are higher than they need to be.
  • Limit your credit usage to the bare necessities. If the situation is dire, try to stop using your credit cards entirely.

Before searching for solutions for your refinancing queries, you will need to gather key information and required business documents to support your application. The requirements will vary greatly depending on the type and amount of credit, from basic information for a credit card to full financials for a major term loan.

It is important for the business owners to have a clear understanding of their financial situation and objectives – keeping them in mind in order to acquire the best refinancing loan for them. Business owners with good credit can get special deals on their closing costs from various lenders. In these cases, getting the best refinancing loan may make sense as it helps them to achieve lower interest rates.

Achieving better credit scores is another great reason to get the best refinancing loan. If business owner’s credit score has gotten better because mortgage payments have been made on time, the owner may be able to take advantage of that improved credit by refinancing into a loan with lower interest rates decreased payments.

If the owner has paid off a car, inherited a sum of money, or received a bonus at work, if the owner is planning to own their home into retirement, refinancing down from a 25-year loan to a 20 or a 15 year loan may be a good move financially. The payments will rise, but the extra money can be used to cover the difference.

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HSR project linking Singapore and Malaysia granted 7 months extension

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Author: Ravi Philemon

Minister for Transport remains optimistic about he HSR project linking the two capitals will benefit both its peoples

The construction of the HSR Project linking Singapore and KL has been suspended since two years ago. The Minister for Transport, Mr Khaw Boon Wan, wrote in Facebook today that the Malaysian Senior Minister Azmin Ali has written to him to request an extension of 7 months to discuss Malaysia’s proposed changes to the HSR project linking Malaysia and Singapore.

HSR project linking

Image credit: Mr Khaw Boon Wan Facebook

Mr Khaw said as any project change requires Singapore’s agreement, the extended suspension of the HSR project linking the two capitals will allow both countries to assess the changes that Malaysia has in mind.

In the spirit of bilateral cooperation, the Ministry of Transport has agreed to a final extension of the suspension period for the HSR project linking the two countries to 31 December 2020.

Mr Khaw said: “This should provide sufficient time for Malaysia to clarify its proposal and for both sides to assess the implications of the proposed changes. COVID-19 pandemic does inconvenience the discussions but tele-conferencing can largely overcome the difficulty. The key is joint commitment to the project’s vision and mutual trust. Nevertheless, the HSR is a complex project, and both sides have to be convinced that the changes do not undermine the original intent of the project.”

Mr Khaw added that he remains optimistic that the HSR project linking the two capitals will benefit both its peoples.

Property market stakeholders do not expect the deferment of the Kuala Lumpur-Singapore High Speed Rail (HSR) project to significantly affect Jurong property prices. Speaking to The New Paper (TNP) in September 2018, some of these analysts said that High Speed Rail (HSR) project only forms part of the blueprint for the rejuvenation of Jurong and the Jurong Lake Gardens area.

Jurong Lake Gardens is opening progressively from 2019, with new attractions and enhanced community spaces to serve residents, workers and visitors. As a people’s gardens, residents can look forward to nature-themed and water play areas, lifestyle and sports facilities, as well as a restored swamp forest and wetlands.

There is now some 160 hectares of land that is yet to be developed within the 360-hectare district. Draft Master Plan 2019 promises to design a greener way of life with the Jurong Lake Gardens.

New housing and community facilities in the West will be nestled within lush green spaces, close to parks and nature corridors. They will be developed sensitively, allowing biodiversity to thrive and co-exist in harmony with humans. By integrating developments with greenery, residents will be able to enjoy a good quality living environment.

According to Master Plan 2019 projects like Jurong Lake Gardens will enable the discovering of nature at every corner. With new parks and enhancements to existing green spaces and waterways, communities will be able to get closer to nature for leisure and recreation. These green and blue networks, in areas like the Jurong Lake Gardens, will also help to enhance biodiversity in our living and working environments.

The Jurong Lake District transformation will include marked change of a part of that area into major tourist destination said the Senior Minister of State (SMS) for Trade and Industry, Chee Hong Tat. The SMS made the announcement on the Jurong Lake District transformation at the Tourism Industry Conference organised by the Singapore Tourism Board (STB) on April 2019,

Mr Chee said that the Jurong Lake District transformation will be in line with Singapore Tourism Board’s strategy to spread out its tourism offerings across different parts of Singapore.

The SMS said, “we will be launching an Expression of Interest exercise for a new integrated tourism development with attractions, hotel and other complementary lifestyle offerings such as F&B and retail at the Jurong Lake District. With its unique waterfront environment and location adjacent to the new Jurong Lake Gardens and the new Science Centre, we envision this area to be transformed into a key attraction from 2026. The Expression of Interest exercise will close in early November this year, and we look forward to receiving your ideas and proposals.”

The Jurong Lake District transformation will see a 7-hectare site being redeveloped to include new integrated tourism attractions.

Currently the site is vacant and is situated next to the Chinese Garden MRT station. The new Science Centre is set to move to this location from Jurong Town Hall next year.

The Jurong Lake District transformation is part of the Government’s plans to change “preconceived notions” that Jurong is “far away, inaccessible, industrial estate”, said STB chief executive officer Keith Tan. Mr Tan added that there is no specific concept for the new tourism site as this would depend on the ideas submitted through the expression of interest exercise. The STB chief said there was keen interest in the site from industry players.

The Jurong Lake District transformation to include the integrated tourism attractions is expected to bring the shine back to the area – part of which was lost after the Kuala Lumpur-Singapore High Speed Rail (HSR) project was suspended.

Mr Tan who said that the STB’s plans for Jurong Lake District transformation is not dependent on the take-off of the HSR project, added that the eventual attractions to be developed there will be deeply integrated into the larger precinct.

“Next door will be the new national Science Centre, across the lake will be Jurong Lake Gardens.That makes it quite distinctive from some of the other standalone attractions in Singapore,” he said.

The Draft Master Plan 2019 also gives Jurong Lake District a big boost. The 360-hectare Jurong Lake District (JLD) will be the largest mixed-use business district outside the city centre, with quality offices, housing, amenities and abundant green spaces. A complementary leisure and recreational cluster has also been planned around Jurong Lake to leverage on the area’s unique lakeside and garden setting.

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3 Singapore REITs which have completed V Shape Recovery

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Author: Marubozu

While many investors are still waiting for the next market crash and trying to figure out the what is going on, FTSE ST REIT index has rebounded c.40% since the bottom on Mar 23, 2020.

There are 3 important lessons learned for Investing in this market crash:

(1) Stock Market is NOT the economy. The stock market is forward looking and moves ahead of the economy.

(2) Don’t invest based on news

(3) Stay focus on what the chart and the price-action tell you. That’s the truth on what is going on in the stock market.

 

Today is a very bullish day for Singapore REITs. It is very rare to see such huge price movement in a day. Furthermore, there are many  REITs breakout from the consolidation based on chart patterns.

 

CapitaMall Trust breakouts from Ascending Triangle chart pattern. This is a bullish breakout.

Ascott Residence Trust breakouts from Rectangle chart pattern. This is a bullish breakout.

Manulife US REIT breakout from Symmetrical Triangle chart pattern. This is a bullish breakout.

 

Below are the 3 REITs which have completed the V shape rebounded and even go higher! Mapletree Logistic Trust and Keppel DC REIT closed at all time high now! Unbelievable Rally with a Superb V Shape Rebound!

Click here for the full REIT table.

 

There are 8 other REITs which are on the way to complete the V shape recovery soon.

 

If you have missed the recent rebound but need professional help to build a diversified Singapore REITs portfolio, you may consider the following 2 options:

(1) My Next REIT Online Course is planned on July 18, 2020 (Saturday). You can find the registration detail here. https://mystocksinvesting.com/course/singapore-reits-investing/

(2) REIT Portfolio Advisory to Kick start your REIT portfolio by leveraging my knowledge and my extensive research.  I am licensed to make recommendation on which REITs to buy, what price to buy and when to buy. Leverage on . I can be contacted through kennyloh@fapl.sg for Investment Portfolio Review, REIT Portfolio Consultation and Investment Planning. Advisory Fee applied.

 

Kenny Loh is a Senior Consultant and REITs Specialist of Singapore’s top Independent Financial Advisor. He helps clients construct diversified portfolios consisting of different asset classes from REITs, Equities, Bonds, ETFs, Unit Trusts, Private Equity, Alternative Investments and Fixed Maturity Funds to achieve an optimal risk adjusted return. Kenny is also a CERTIFIED FINANCIAL PLANNER, SGX Academy REIT Trainer, Certified IBF Trainer of Associate REIT Investment Advisor (ARIA) and also invited speaker of REITs Sympsosium and Invest Fair. 
You can join my Telegram channel #REITirement – SREIT Singapore REIT Market Update and Retirement related news. https://t.me/REITirement