In October, Keppel Corporation (SGX: BN4), reversed losses from a year ago to post a fourth-quarter profit of S$135 million. However, the industrial conglomerate said operating profit almost halved to S$5 million because of lower fair value gains on investment properties.
Keppel also said that while there are signs of improvements in the offshore rig sector, a V-shaped recovery is not envisaged.
CapitaLand Commercial Trust (SGX: C61U) delighted the market with a 6% rise in fourth-quarter distribution to 2.22 cents. The office landlord said CCT will focus on the domestic Singapore market but it will also look at investment opportunities in select gateway cities of developed markets.
On the economic front, the US is expected to report another balance of trade deficit for February despite repeated rhetoric from the White House that negative trade balances are bad. The US will also report retail sales, which is expected to show a growth of 0.6% in March, compared to a fall of 0.2% in the previous month.
China could say that its economy grew at an annualised rate of 6.4% in