SINGAPORE (Nov 18): Belt tightening continues to take centre stage amid a challenging global economy.

According to CIMB, cost-cutting was the dominant factor for most of the earnings outperformance in 3Q16.

“Banking, gaming, capital goods and transport saw the largest cost cutting measures implemented,” says CIMB Lim Siew Khee in a Thursday report. Lim adds that this was mainly through “salary reduction, staff redundancy (mainly foreigners), automation/digitalisation and disposal of unprofitable operations”.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook