It is also the fourth largest foreign exchange trading center, and is rated as the most business-friendly economy in the world. The economy had an estimated growth rate of 8.2% for the second quarter of 2007. Almost ten million tourists visited Singapore last year. The government also legalized gambling in 2005.
Here are some Singaporian stocks worth examining:
Chartered Semiconductor Manufacturing Ltd. (CHRT), which trades on NASDAQ, is in the business of providing wafer fabrication services and technologies to semiconductor suppliers and companies. It has a P/E of 53.3, a P/S of 1.56, and a PEG of 2.22.
City Developments (OTCPK:CDEVY), is in the Singapore real estate business. It has paid dividends at least annually in six out of the last seven years. Its yield is about 1%.
DBS Group Holdings (OTCPK:DBSDY), is a bank holding company which owns DBS Bank, which is the largest bank in South East Asia by assets. Its income for the latest year was up 17%, and profits increased by 175%.
Grand Banks Yachts ADR (OTC:GBYLY), manufactures and markets three different series of yachts. Although it trades fairly regularly in the U.S. on the Pink Sheets. There is little financial data available about the company.
Keppel Corp. LTD SPON (OTCPK:KPELY), is a diversified conglomerate in the business of real estate, marine, and infrastructure industries. The stock has a P/E of 18, and has paid dividends at least twice a year since 2001.
Neptune Orient (OTCPK:NPTOY), is a container shipping, global transport company. It owns American President Lines, also known as APL. Its net profit for the latest quarter was down 64%, year over year.
Singapore Telecommunications ADR (OTCPK:SGAPY), also known as SingTel, provides telecommunication systems, and services in over 20 countries. It has a P/E of 14.7, and a P/S of 4.14. It has a yield of 3.2%.
STATS ChipPAC Ltd. (STTS), which trades on the NASDAQ, offers semiconductor packaging, and test services to the semiconductor industry around the world. It has a P/E of 29, a P/S of 1.35, and a PEG of 1.19.
United Overseas Bank (OTCPK:UOVEY), is Singapore's largest bank in terms of domestic customer loans, credit cards, and market capitalization. Its after tax net profit increased by 17.9% for the first quarter of 2007.