Friday, September 23, 2011

Singapore's banks outlook gloomy

Yahoo reported as below.
Shares of Singapore's big three banks have been under increased selling pressure in the last month, trailing behind the already weak STI.

Industry experts said the share prices have not bottomed out yet.

Ng Kian Teck, investment analyst at SIAS Research, said that manufacturing companies will reduce their borrowings "because of the uncertain economy.

It is not reduced manufacturing borrowing that will hit the bank, but expected reduced speculation on property. Close to half of our bank loans go into real estate. PAP can either sit by watching our bank downsized or further its FT ponzi. Either way, its going to be painful for the citizen.


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