(1888PressRelease)
April 15, 2009 - “The economy may contract 6 percent to 9 percent,” the Seedorf Luxman & Partners Analyst said in a statement today.
The central bank said it would adjust the trading range for the Singapore dollar, effectively lowering the band for the first time since 2003 to revive growth. Singapore stocks fell after exports tumbled for an 11th month amid a slump that’s forced Chartered Semiconductor Manufacturing Ltd. to fire workers and the government to reduce taxes and subsidize jobs.
“The situation is really dire and the central bank’s policy will improve sentiment and help the economy,” said Yang before stating “The policy move gives them the flexibility to weaken the currency now, and steer it to strengthen when things get better.”
The worst global economic slump since World War II has pushed Asia’s trade-dependent nations into the region’s deepest slowdown in more than a decade.
Seedoorf Luxman & Partners are a specialized advisory and consultancy company that provides investors with the resources necessary to find small stocks with tremendous growth potential, unknown to the general investing public. All of our team with comprehensive fields of expertise are driven by a focus upon helping our clients meet their investment objectives. Whether you are an individual investor or an institutional client we will provide an excellent level of service.
###
