Maybank Securities analyst Krishna Guha has lowered his earnings estimates by mid- to high-single digits for Singapore REITs (S-REITs) for the time being.
While the analyst remains “positive” on the sector, he sees “two-way risks” taking place. On one hand, the low but non-recessionary growth, falling Singapore dollar (SGD) base rate, safe haven flows and potential fiscal stimulus should cushion the sector amid the global volatility. On the other, the analyst is looking towards the global financial crisis (GFC) cycle to look at the worst-case downside to distributions.
“Our macro team expects the tariff war to have a deflationary impact in Singapore. The team forecasts 2025 GDP growth of 2.1% and 1.8% in 2026 for Singapore, penciling in a growth slowdown, but not a recession at this stage,” says Guha in his April 16 report.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。