Underdog Investors

In the vibrant city-state of Singapore, where the heat hums and the hustle never stops, locals have spoken up about what makes their daily grind bearable. A recent study by the Singapore Management University and the Institute of Policy Studies, surveying 4,000 spirited Singaporeans, reveals a charming portrait of urban necessities. Here’s what they can’t live without: Air-conditioning  isn't just a luxury—it's a necessity for 64% of respondents, making the tropical humidity bearable. Dining out  is more than a treat, with 62% stating that visiting a restaurant at least once a month is essential for their lifestyle. Travel  is on the agenda too, as over half of the participants crave a yearly getaway to a Southeast Asian country, highlighting the Singaporean spirit of adventure. The digital age is well embraced, with over 90% considering  smartphones  indispensable. Amidst these personal luxuries, there’s a strong call for support: A significant number expect th...

CGS International has cut the target price for Mapletree Pan Asia Commercial Trust (MPACT) to $1.58 from $1.59. The main reason? Festival Walk mall in Hong Kong isn’t recovering as quickly as expected. Key Points: • Why the Cut?: Sales in Hong Kong dropped by 6.1% year-on-year as of May 2024, hitting sectors like food, beverages, and clothing hard. • New Forecasts: Analysts now expect Hong Kong’s retail growth to decrease by 6.0% in FY2024 instead of growing by 3.0%. • Local Shopping Trends: More Hong Kong residents are shopping in Shenzhen on weekends, affecting local sales. What This Means: • Challenges Ahead: Festival Walk could see more shifts in local spending with fewer tourists. • Lease Renewals: About 31.7% of the mall’s leases are up for renewal in the first quarter of FY2025. The supermarket tenant TaSTe, which accounts for around 27% of expiries, just had its lease expire in June. Ups and Downs: • Positive: High occupancy at Festi...

Citigroup has cut about 500 jobs in Singapore as part of a big global restructuring plan. This brings their total staff in Singapore to 8,000, down from 8,500 last October. Key Points: • Job Cuts Explained: The job cuts are part of Citigroup’s plan to make its operations simpler and faster by reducing the number of management layers and roles that focus on the Asia Pacific region. • Streamlined Operations: Tibor Pandi, who heads Citi in Singapore, mentioned that the restructuring will make decision-making quicker and governance easier across the company. • New Hiring Plans: Despite these cuts, Citi Singapore is looking to hire more people for its growing wealth management business and to support companies expanding in the region. What This Means: • For Employees: While some employees are moving to new roles within Citi’s international division, others may face uncertainty. • For Citi: The changes aim to make Citi more efficient and competitive, espec...

Singapore has reclaimed its title as the world's most competitive economy in 2024, jumping from fourth place last year, according to the International Institute for Management Development (IMD). This is the first time since 2020 that Singapore has been ranked number one, beating out Switzerland and Denmark. Why Singapore is Number One IMD looks at 67 countries, gathering data between March and May 2024. They found that Singapore shines in areas like the labor market, technology, and government efficiency. This means that Singapore is a great place to find a job, work in tech, and run a business. However, Singapore didn't do as well in areas like healthcare, the environment, and societal issues. Improvements and Challenges The country has seen improvements in how efficient the government and businesses are, and in attracting and keeping talented workers. Small and medium businesses are also doing better. But not everything is rosy. Singapore’s GDP growth per person has gone down...

In 2023, the money that people in Singapore took home from their jobs grew, but not as fast as before. The Ministry of Manpower (MOM) released a report showing that the total wage growth was 5.2%, a dip from 6.5% in 2022. This means that while people are still getting raises, they're not as big as they used to be. What’s Happening in the Job Market? Singapore's job market is still strong, but things are cooling off a bit. Even though there are plenty of jobs (the report says there are about two jobs for every person looking for one), the raises aren’t as hefty. Unemployment rates are pretty low, ranging from 1.8% to 3.5% depending on whether you look at everyone or just residents and citizens. This is good news because it means most people who want a job can find one. Who’s Getting Raises? Everyone across different industries saw their wages go up in 2023, but not by a lot. The report points out that people in admin and support services got a bit more because of new wage rules....