Singapore Stocks Performing Well, More Developments

The Singapore Stock Market hit a record on Wednesday and our Singapore Fund holding (NYSE: SGF) is one of the few stocks that are up in face of today's slide in the stock market. The proposed reduction in corporate taxes are expected to have very positive implications for corporate profitability. There is also news that a Consortium has exercised its option to develop the second phase of Singapore's Downtown. They are expected to build office and high-end residential components in the new phase.



With only 692.7 sq km in the entire country of Singapore, residential and commercial building is scarce. The relaxation of the corporate tax and the building of a casino industry in Suntec City should attract a business migration into Singapore - or at least this is what the government hopes will happen. Singapore does stand a chance with its english speaking diverse nation and pollution free business friendly environment.



What does mean? We continue to be very bullish on all things Singapore, including the Singapore dollar, the Singapore fund and Singapore real estate.



Here is a picture of the downtown area in development courtesy of Channel NewsAsia