How badly will be CW8888's Portfolio get hit this time in BrExit?
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Tencent bounces back: What to know about China’s tech giant
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About Tencent (SGX: HTCD): A Global Leader in Digital Services Established
in 1998, Tencent has become one of the most recognised companies in China
and ...
6 hours ago
COMPANIES & MARKETS
ReplyDeleteSingapore companies with significant investments in the UK include property developers City Developments and Ho Bee, and transport group ComfortDelGro. According to Mr Gabriel Yap, executive chairman at investment firm GCP Global, the sliding pound would mean currency losses for these Singapore firms.
“I think the impact mainly will be in the translation losses from earnings for those that have invested in the UK. These firms invested in assets in the UK when the pound was significantly pricier,” he said.
“Their earnings translated back to Sing dollars this coming year will be significantly affected. The uncertainty of that will also wreck havoc on their share prices.”
Still, CDL struck a positive note, saying that the company continues to have confidence in the long-term fundamentals of the UK economy and its strategy of targeting predominantly UK nationals for its residential developments. It added that it has a strategy to deal with exchange rate uncertainties: "The Group manages its foreign exchange exposure by a policy of a matching receipts and payments, and asset purchases and borrowings in each individual country, so as to create a natural hedge".