, Singapore

Earnings forecast for Courts Asia slashed by 5%

Here's what to blame.

According to DBS, it expects Courts Asia's results to be soft, on lower fuel subsidies in Malaysia and slower furniture and household equipment sales in Singapore.

"We have therefore lowered FY14F sales psf expectations in Singapore and Malaysia and hence reduced our FY14F/FY15F earnings forecast by 5%/2%," said DBS.

Here's more:

Longer term, we expect demand in Malaysia to normalise when the market adapts to lower fuel subsidies. With higher housing completion in Singapore going forward, we remain positive on demand picking up.
 

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