PRESS DIGEST - Singapore newspapers - July 21

SINGAPORE, July 21 (Reuters) - The following are stories from Singapore newspapers on Monday. Reuters has not verified these stories.

THE STRAITS TIMES

- Analysts say they expect inflationary pressures - such as surging costs for labour, shipping and materials - to take a heavy toll on the results of some Singapore companies in the current profit reporting season.

Higher borrowing costs and sharply higher crude oil prices will also hurt profit margins, and analysts say downgrades of earnings forecasts are likely to be made in the wake of the second- quarter reporting season.

- Hiring by Singapore companies is slowing down as firms tighten their belts amid rising operating costs and margin pressure, say recruitment agencies. This cautious approach is in stark contrast to the enthusiastic hiring seen a year ago and experts say the pullback is most evident in the finance and manufacturing sectors.

BUSINESS TIMES

- Electronics manufacturer Aztech (AZTS.SI) chairman and chief executive Michael Mun said the firm's new construction material supply and marine logistics businesses can each match the current turnover of its mainstay technology business.

"The three core businesses should add up to at least twice or thrice of our current performance. That's what I foresee in two to three years," Mun said. Aztech had posted revenues of S$268.3 million ($198.6 million) in its fiscal 2007.

- Mapletree Logistics Trust (MAPL.SI) reported on Sunday a distributable income of S$22.6 million for the second quarter ended June 30, up 28 per cent from the corresponding period last year helped by more industrial properties added to its portfolio. ((Singapore Newsroom +65 6403 5677, singapore.newsroom@reuters.com)) ($1=1.351 Singapore Dollar)