Reuters: Hot Stocks: STOCKS NEWS ASEAN-Singapore Airlines valuation hits bottom-DMG

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STOCKS NEWS ASEAN-Singapore Airlines valuation hits bottom-DMG Mar 16th 2012, 07:23 Fri Mar 16, 2012 3:23am EDT DMG & Partners kept a buy rating on Singapore Airlines Ltd (SIA) and said it was encouraged by an improvement in passenger traffic. "We think its valuation has hit bottom. SIA is backed by a strong balance sheet, which would enable it to whether any downturn going forward," the broker said and retained its price target of S$12.47. SIA's shares were down 0.55 percent at S$10.94. Out of 23 analysts tracking the stock, 13 have a hold rating, five have a buy or strong buy and five have a sell or strong sell. DMG said recent changes at the company including cuts in cargo capacity, voluntary separation scheme for employees and higher fuel surcharges would enhance SIA's margins and profitability from fiscal year 2013. SIA said the operating environment remained challenging and passenger yields were likely to come under pressure. For a related story and SIA's statement, click: and link.reuters.com/byj27s 1500 (0700 GMT) (Reporting by Mark Tay in Singapore) Reuters messaging mark.tay.thomsonreuters.com@reuters.net ************************************************************ 12:50 STOCKS NEWS ASEAN-Kim Eng ups M1 to buy, raises price target Maybank Kim Eng upgraded Singapore telecoms firm M1 Ltd to buy from hold and increased its target price to S$2.85 from S$2.35, saying margin worries are likely to ease. It said Singapore's three telcos -- M1, Singapore Telecommunications Ltd and StarHub Ltd -- are breaking away from unlimited data caps on their new iPad plans. Tablets could help boost data average revenue per user, the broker said. "We expect margin concerns for M1 to fade for a while as the new iPad should not cause a dent, the iPhone 5 launch is unlikely till October 2012 and the telco appears to have shed its previous aggressive stance on fibre," Kim Eng said. M1 shares were down 0.8 percent, StarHub fell 1.6 percent, while SingTel gained 0.3 percent. The stocks have underperformed the broader market so far this year. 1240 (0440 GMT) (Reporting by Eveline Danubrata in Singapore) Reuters messaging eveline.danubrata.thomsonreuters.com@reuters.net ************************************************************ 11:59 STOCKS NEWS ASEAN-Brokers hold neutral view of Singapore property Brokers remain "neutral" on Singapore's private residential property sector as private home sales data released on Thursday showed continued strong growth in February, indicating the government may introduce more cooling measures. In December, Singapore's government announced new measures to cool the housing market as residential prices in the city-state held up well despite a slowing economy. "Protracted strong volumes increase policy risk," CIMB Research said, adding that the 2,413 private units, excluding executive condominiums, sold in February was the highest monthly figure since July 2009. OCBC Investment Research said additional property curbs were the main risk local residential developers faced. "Given the government's track record, we believe its commitment to prevent property overheating is unambiguous," OCBC said. CIMB said despite more property launches last month, the take-up rate was strong with many small units of development being bought. DMG & Partners also kept its "neutral" rating on developers, with a narrowing restated net asset value (RNAV) discount on the sector, but said it prefers real estate investment trusts to developers. To view February private unit sales, click: link.reuters.com/naj27s 1053 (0253 GMT) Reporting by Mark Tay in Singapore Reuters messaging mark.tay.thomsonreuters.com@reuters.net ************************************************************ 10:57 STOCKS NEWS ASEAN-Singapore shares reverse from year-high Singapore's benchmark Straits Times Index (STI) edged lower, reversing from its highest mark of 2012 hit earlier on Friday amid muted trading on other Asian bourses. "Regionally, we are in line and Hong Kong shares also opened flat. Considering that we have risen quite a lot so far this year, it's not surprising we are consolidating now," said a trader from a local brokerage. Hong Kong shares were marginally lower, while the MSCI Asia ex Japan .MIAPJ0000PUS was 0.13 percent higher. By 10:46 a.m. (0246 GMT), the STI was 0.06 percent lower at 3,023.71 points, down from its intra-day high of 3,035.78 -- a record for this year. 1048 (0248 GMT) Reporting by Charmian Kok in Singapore Reuters messaging charmian.kok.thomsonreuters.com@reuters.net ************************************************************ 10:39 STOCKS NEWS ASEAN-BaML ups Yangzijiang target, sees new orders Bank of America Merrill Lynch (BaML) raised its target price on Singapore-listed shipbuilder Yangzijiang YAZG.SI to S$2.12 from S$2.08, citing a potential rise in orders for large containers hip orders from mid-2012. It maintained its buy rating on Yangzijiang. The shares were up 1.5 percent at S$1.385, and have soared 52 percent this year. BaML said the company could see its first rig building contract wins in the second half of the year, helped by support from the Chinese government. It also noted that shipbreaking, where ships are broken up for scrap recycling, could also see a boom amid low freight rates, as 27 percent of dry bulk carriers globally will be 20 year or older in the next five years. For a related story on the company, click 1025 (0225 GMT) (Reporting by Charmian Kok in Singapore) Reuters messaging charmian.kok.thomsonreuters.com@reuters.net ************************************************************ 08:45 STOCKS NEWS ASEAN-Singapore index futures trade higher Singapore MSCI March futures SSGc1 edged 0.1 percent up on Friday, indicating a higher opening for the Straits Times Index .FTSTI. Asian shares steadied on Friday and the dollar took a breather after its recent broad rally spurred some profit taking, but a fresh batch of data suggesting the U.S. economy may be picking up momentum underpinned investor sentiment. 0843 (0043 GMT) Reporting by Charmian Kok in Singapore Reuters messaging charmian.kok.thomsonreuters.com@reuters.net Link this Share this Digg this Email Reprints

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