Singapore's Retail Growth Likely Subdued Next Year -- Market Talk

Dow Jones

2025/12/05

0744 GMT - Singapore retail growth could be subdued next year, say DBS Group Research analysts in a note. Any boost from government vouchers for supermarkets and higher tourist spending are likely to be largely offset by reduced discretionary spending amid softer economic growth, they say. The anticipated end-2026 launch of a rapid rail between the city-state and Malaysia's Johor Bahru could also serve as an overhang going into the year after. Additionally, the analysts expect an absence of government vouchers to weigh on 2027's retail growth. DFI Retail Group is DBS's top consumer pick, given the margin expansion in its health and beauty segment. Among Singapore's retail landlords, the bank likes CapitaLand Integrated Commercial Trust and Lendlease Global Commercial REIT as they offer decent projected yields. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

December 05, 2025 02:44 ET (07:44 GMT)

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Any boost from government vouchers for supermarkets and higher tourist spending are likely to be largely offset by reduced discretionary spending amid softer economic growth, they say. The anticipated end-2026 launch of a rapid rail between the city-state and Malaysia's Johor Bahru could also serve as an overhang going into the year after. Additionally, the analysts expect an absence of government vouchers to weigh on 2027's retail growth. <a href=\"https://laohu8.com/S/DFIHY\">DFI Retail</a> Group is DBS's top consumer pick, given the margin expansion in its health and beauty segment. Among Singapore's retail landlords, the bank likes <a href=\"https://laohu8.com/S/C38U.SI\">CapitaLand Integrated Commercial Trust</a> and <a href=\"https://laohu8.com/S/JYEU.SI\">Lendlease Global Commercial REIT</a> as they offer decent projected yields. (megan.cheah@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 05, 2025 02:44 ET (07:44 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore's Retail Growth Likely Subdued Next Year -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore's Retail Growth Likely Subdued Next Year -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-12-05 15:44</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0744 GMT - Singapore retail growth could be subdued next year, say DBS Group Research analysts in a note. Any boost from government vouchers for supermarkets and higher tourist spending are likely to be largely offset by reduced discretionary spending amid softer economic growth, they say. The anticipated end-2026 launch of a rapid rail between the city-state and Malaysia's Johor Bahru could also serve as an overhang going into the year after. Additionally, the analysts expect an absence of government vouchers to weigh on 2027's retail growth. <a href=\"https://laohu8.com/S/DFIHY\">DFI Retail</a> Group is DBS's top consumer pick, given the margin expansion in its health and beauty segment. Among Singapore's retail landlords, the bank likes <a href=\"https://laohu8.com/S/C38U.SI\">CapitaLand Integrated Commercial Trust</a> and <a href=\"https://laohu8.com/S/JYEU.SI\">Lendlease Global Commercial REIT</a> as they offer decent projected yields. (megan.cheah@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 05, 2025 02:44 ET (07:44 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"C38U.SI","symbol_name":"凯德商用新加坡信托","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2589498864","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2589498864","pubTimestamp":1764920640,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0744 GMT - Singapore retail growth could be subdued next year, say DBS Group Research analysts in a note. Any boost from government vouchers for supermarkets and higher tourist spending are likely to be largely offset by reduced discretionary spending amid softer economic growth, they say. The anticipated end-2026 launch of a rapid rail between the city-state and Malaysia's Johor Bahru could also serve as an overhang going into the year after. Additionally, the analysts expect an absence of government vouchers to weigh on 2027's retail growth. DFI Retail Group is DBS's top consumer pick, given the margin expansion in its health and beauty segment. Among Singapore's retail landlords, the bank likes CapitaLand Integrated Commercial Trust and Lendlease Global Commercial REIT as they offer decent projected yields. 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Any boost from government vouchers for supermarkets and higher tourist spending are likely to be largely offset by reduced discretionary spending amid softer economic growth, they say. The anticipated end-2026 launch of a rapid rail between the city-state and Malaysia's Johor Bahru could also serve as an overhang going into the year after. Additionally, the analysts expect an absence of government vouchers to weigh on 2027's retail growth. DFI Retail Group is DBS's top consumer pick, given the margin expansion in its health and beauty segment. Among Singapore's retail landlords, the bank likes CapitaLand Integrated Commercial Trust and Lendlease Global Commercial REIT as they offer decent projected yields. (megan.cheah@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 05, 2025 02:44 ET (07:44 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}