Brokers' take

Singapore Strategy | Underweight

Daiwa Capital Markets, April 8

With the Q1 2015 results season set to begin shortly, we review emerging operational trends from past quarters and highlight our key preference for property developers over other sectors.

In the property sector, earnings diversification efforts and asset monetisation strategies for some companies appear to be paying off, helping to fill the void left by tepid residential sales.

Within the Singapore real estate investment trusts (S-Reits) sector, the outlook for rental revisions appears p…