Reuters: Hot Stocks: STOCKS NEWS ASEAN-CLSA names top 13 regional plays

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STOCKS NEWS ASEAN-CLSA names top 13 regional plays Mar 15th 2012, 11:09 Thu Mar 15, 2012 7:09am EDT As economies in the Association of South East Asian Nations (ASEAN) attract more investment, CLSA picked 13 companies set to capitalize on the region's increased spending power. "While there are various approaches to determine attractively valued franchise stocks, we have selected 13 that we believe should give investors good returns not just over the coming 12 months but also over the following three years," CLSA's head of thematic research, Amar Gill said in a report. The brokerage's ASEAN portfolio was based on criteria such as stocks valued at less than 14 times operating earnings and stocks that traded at least $5 million a day. "We estimate average three-year total returns to be 70 percent for this basket of franchise stocks, given their undemanding valuations," the report said. "Investors should enjoy outperformance from companies generating a high return on capital with a durable competitive advantage, especially where stock valuations are reasonable." CLSA's picks were Bank Rakyat, Gudang Garam and United Tractors of Indonesia, AirAsia , Genting Berhad and Public Bank from Malaysia, ICTSI and Universal Robina of the Philippines, Fraser and Neave, Genting Singapore and United Overseas Bank from Singapore, and Bangkok Bank and CP Foods of Thailand. 1900 (1200 GMT) (Reporting by Anshuman Daga in Singapore) Reuters messaging rm://anshuman.daga.thomsonreuters.com@reuters.net *********************************************************** 1709 STOCKS NEWS ASEAN-CIMB bullish on Biosensors CIMB Research reaffirmed its outperform rating on Singapore medical devices maker Biosensors International Group Ltd after it introduced a new management structure. "We find the replacement of a co-CEO system with the more conventional single-boss structure appealing, giving clarity and well-defined roles," said the brokerage, which maintained its price target of S$1.98. Biosensors was up 2.8 percent at S$1.485 with volume more than twice its average full-day volume traded over the past 30 days. CIMB said China's pending approval of the firm's flagship BioMatrix - a drug-eluting stent (DES) - is a catalyst that could increase its market share in the DES market. "Its share-price pullback of late only serves to confirm that the single biggest catalyst for BIG (Biosensors International Group)  in China  has yet to be priced in." For a related story, click 1650 (0850 GMT) (Reporting by Mark Tay in Singapore) Reuters messaging rm://mark.tay.thomsonreuters.com@reuters.net *********************************************************** 12:20 STOCKS NEWS ASEAN-Swiber falls 6%; brokers upbeat on placement Shares in Swiber Holdings Ltd fell as much as 6.4 percent on the Singapore offshore services firm's move to raise about S$62.5 million ($49 million) via a share placement, but brokers said it would Swiber cut debt and expand its footprint. CIMB Research cut its earnings per share estimates for 2012-2014 fiscal years by 5-12 percent to capture dilution from the share placement, partially offset by higher order wins. The broker said the funds should help Swiber chase more sizeable projects and break into new markets and raised its order assumption for 2012 to $600 million from $500 million. CIMB cut Swiber's target price to S$0.79 from S$0.94, but maintained its outperform rating. Swiber shares lost 4.9 percent and were among the top 20 traded by value. More than 13 million shares were traded, 1.4 times the average full-day volume traded over the past 30 days. "We believe that portion of the proceeds would be used to buy back vessels, eliminating the staggering interest cost that has been weighing on profitability," DMG & Partners Securities said. For Swiber's statement, click: link.reuters.com/jyd27s 1200 (0400 GMT) (Reporting by Eveline Danubrata in Singapore) Reuters messaging rm://eveline.danubrata.thomsonreuters.com@reuters.net *********************************************************** 10:58 STOCKS NEWS ASEAN-OCBC cuts Singapore's Goodback to sell OCBC Investment Research downgraded its rating on logistics company, Goodpack Ltd, to sell from buy, citing a sharp rise following a deal with General Motors. While the deal was a catalyst for the group, OCBC said an almost one third increase in Goodpack's market value following the announcement this month seemed overdone. "Any revenue contribution from this deal will not be material in fiscal year 2012," the brokerage said and retained its price target at S$1.70. On Wednesday, Goodpack's shares surged to the highest level since June and were down 2.7 percent on Thursday. "Based on Goodpack's recent first half results, it is currently on track for a full-year 9 percent year-on-year revenue growth, which we deem insufficient to support the recent spike in its price," OCBC said. For a company statement, click 1040 (0240 GMT) (Reporting by Mark Tay in Singapore) Reuters messaging rm://mark.tay.thomsonreuters.com@reuters.net *********************************************************** 10:19 STOCKS NEWS ASEAN-Singapore's Interra up on Myanmar oil field Shares of Interra Resources Ltd surged as much as 8.1 percent after the Singapore petroleum exploration and production firm said its jointly controlled Goldpetrol Joint Operating Company Inc had started drilling a well in Myanmar. Interra shares rose 6.5 percent to S$0.33 and were among the top five traded stocks by volume in Singapore. More than 13 million shares were traded compared with average full-day volume of 15 million. "People might be hoping that they will find oil. The stock has also drawn interest recently because of its Myanmar exposure," said a local trader. Interra said on Wednesday YNG 3243 is the first development well to be drilled this year in the Yenangyaung oil field in Myanmar. Interra owns 60 percent of Goldpetrol, the operator of the field. For a statement, click: link.reuters.com/hud27s 1005 (0205 GMT) (Reporting by Eveline Danubrata in Singapore) Reuters messaging rm://eveline.danubrata.thomsonreuters.com@reuters.net *********************************************************** 08:46 STOCKS NEWS ASEAN-Singapore index futures trade flat Singapore MSCI March futures edged 0.03 percent lower on Thursday, indicating a lacklustre start for the Straits Times Index. Asian shares eased on Thursday on renewed concerns about Chinese growth, but a brighter global economic outlook underpinned the dollar and kept investor risk appetite intact, reducing the appeal of safe-haven government debts. 0840 (0040 GMT) (Reporting by Eveline Danubrata in Singapore) Reuters messaging rm://eveline.danubrata.thomsonreuters.com@reuters.net ($1 = 1.2686 Singapore dollars) Link this Share this Digg this Email Reprints

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