Companies in Singapore have showed optimism about business conditions in the first half of this year, according to the results of surveys released by the Singapore government on Wednesday.

The companies attributed this to the momentum of last year's stronger-than-expected economic growth,the survey carried out by the Economic Development Board (EDB) between December and January showed.

A weighted 20 percent of companies in the country's manufacturing sector foresee an improved outlook while a weighted 5 percent predict a deterioration.

A net weighted 53 percent of companies in the marine and offshore sector see improved business conditions, with none predicting a deterioration.

The electronics sector is cautiously optimistic with a net weighted balance of 9 percent of manufacturers expecting business conditions to improve in the next six months.

In the biomedical manufacturing cluster, a weighted 92 percent of manufacturers expect the general business conditions in the sector to remain the same in the first six months of this year.

Meanwhile, a separate survey by Singapore's Department of Statistics released on Wednesday also showed overall optimism among companies in the services sector.

Among the most optimistic companies are real estate companies, hoteliers and financial services firms such as banks, stocks, share and bond brokerage firms, and fund management and insurance businesses.

Last year, Singapore's economy enjoyed a 6 percent growth, better than expected, and it is expected to grow at 3-5 percent this year.

Source: Xinhua