By Goh Eng Yeow, Senior Correspondent

AT FIRST sight, the heady gains made in the stock market in the past month seem to suggest that corporate Singapore is back in the pink of health, after braving the most ferocious financial storm in decades.

Stock prices are one thing. But take a closer look at the financial results released so far in the corporate reporting season. They have been mixed at best, indicating that companies are still trying to regain their footing.

True, most of them have been reporting decent profits. But like their counterparts in Europe and the United States, they have done so only because they have taken a chainsaw to costs.

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