*Official* MasterLeong Thread - Part 2

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akwl88

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Singapore Market Strategy - Modest expectations for Committee on Future Economy

● The Committee on Future Economy (CFE) is expected to release its recommendations in the coming weeks. While past CFEs have led to significant policy shifts, our expectations on the upcoming report are more modest, with focus likely to be on

(1) building new economic capabilities,

(2) promoting entrepreneurship, and

(3) workforce development through SkillsFuture.

● We believe the report will highlight the digital economy as the next economic pillar, led by SmartNation, cyber-security, e commerce and digital services. There could be initiatives to support start-ups and SMEs, potentially through financing assistance and lower regulatory requirements. The SkillsFuture programme could be expanded to help working adults upgrade their skills.

● What could surprise?

The committee could push for
(1) relaxation in foreign worker restrictions, which we think is unlikely after recent government comments that productivity should drive economic growth, and

(2) divestment of government-linked companies.

● Stocks that are exposed to the digital economy include ST Engineering, Venture, Keppel DC REIT, and SATS.

Committee on Future Economy (CFE) report expected soon
The Committee on Future Economy (CFE) is a 30-member committee co-chaired by Minister for Finance Mr Heng Swee Keat and Minister for Trade and Industry Mr S Iswaran, and aims to keep the Singapore economy competitive by identifying areas of growth. Past committees have been accompanied by significant economic policy shifts, even if not immediately post the release of reports. For instance, the 2010 committee resulted in measures to raise productivity and reduce reliance on the foreign workforce. Sweeping changes were also made to maintain Singapore’s cost competitiveness post the 1986 report.

Focus on building new capabilities, entrepreneurship, and
developing workforce skills
Our expectations of the upcoming report are nonetheless modest, with the recommendations likely to be a continuation rather than reversal of existing policies the government is already taking. Some of these recommendations are also likely to feature strongly in the upcoming Budget 2017, to be delivered on 20 February.

Building new capabilities in the economy:
We think the report will place significant emphasis on the digital economy as the next most important pillar of Singapore’s economy (Smart Nation, Cyber Security, E-Commerce, Fintech, data analytics etc). The committee will likely recommend the government broadens schemes for professionals and students looking to get a headstart in sectors such as data analytics. The committee could also introduce initiatives to provide assistance to workers displaced by digital technologies.

The government announced the Industry Transformation Programme in Budget 2016, but progress has so far been quite slow, with only six out of a total of 23 sectors seeing specific roadmaps pushed out. The Future Economy report will likely provide more details on how these industry transformation roadmaps can provide targeted help for individual sectors rather than through the broad-based Productivity and Innovation Credit (PIC) scheme.

Promoting Entrepreneurship:
We also expect recommendations to help improve the start-up ecosystem in Singapore, while also providing support for SMEs. To this end, we could also see some recommendations for further reforms in the education system and maybe changes in hiring procedures in the civil service. Also, we could see a push towards a reduction in government compliance and regulatory costs.

Developing the workforce through SkillsFuture drive:
We expect the report to also recommend expanding the current SkillsFuture programme, and for the government to set aside permanent funds for top-ups to the SkillsFuture initiative.

What could surprise?
The committee could also push for more

(1) relaxation in foreign worker restrictions, which we think is unlikely following Education Minister (Higher Education and Skills) Ong Ye Kung's recent comments that Singapore's economic growth cannot be achieved through manpower growth, but should be pursued based on productivity and innovation;

(2) divestment of key government-linked companies,

(3) initiatives to bolster government revenue as expenditures continue to rise.

Source : Credit Suisse Asia Pacific Equity Research
 
Mr.Canberra

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Takodoro said:
US had accused China for keeping yuan low for long long time pegged to USD.

If USD increase, there might be chance for yuan to increase.

Once again, need Uncle Canberra to come in and comment. :o
Click to expand...

Depends how long you want to hold CNY. Offshore (CNH) forget it as yields not as good as onshore (CNY). I am holding CNY long term with hassle free 4-5% p.a. yields.

How low can it depreciate against SGD? 5.2? :s13: It has been holding steady at 4.8X for the past 6 months.
 
Average

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Sent from 金鸡 using GAGT
 
MasterLeong

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SSI forum many people like to play undercut it seems

my CMT/CCT/CDG 3 piece blue chip combo still red, want to under cut faster do so before boat leaves port hahahahahahaha
 
MasterLeong

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investingnote I one day up 80 points... sibei fierce... 1 point is close to 10 cents

80 points is like free $8

like that really not bad... if target 50 points a day, 20 market days can make 1000 points or close to $100 per month off investing note if you are a serious writer

comparable to blogging... which is around 1k per year income
 
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