Reuters: Hot Stocks: STOCKS NEWS ASEAN-CIMB upbeat on offshore and marine sector

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STOCKS NEWS ASEAN-CIMB upbeat on offshore and marine sector Mar 19th 2012, 03:51 Sun Mar 18, 2012 11:51pm EDT CIMB Research is seeing shoots of recovery in the offshore support vessel (OSV) sector as more new rigs intensify demand. "With fleet growth coming to an end, we see OSV supply tightening in 2012," the brokerage said and kept its overweight rating on the offshore and marine sector. STX OSV Holdings Ltd and Ezra Holdings Ltd are CIMB's top picks, given their global exposure and links to the North Sea. It raised its target price on STX OSV to S$2.02 from S$1.78. CIMB sad it was generally more positive on Singapore vessel owners than shipyards as improving utilisation in the early phase of this upcycle should have an immediate impact on their profitability. CIMB has an outperform rating on Ezra, Ezion Holdings Ltd , Mermaid Martime PCL and Swiber Holdings Ltd , STX OSV and ASL Marine Holdings. It has an underperform rating on Otto Marine Ltd. 1140 (0340 GMT) Reporting by Mark Tay in Singapore Reuters messaging rm://mark.tay.thomsonreuters.com@reuters.net ************************************************************ 09:56 STOCKS NEWS ASEAN-CDL Hospitality to gain from strong tourism-OCBC Singapore's CDL Hospitality Trusts, which owns hotels, is well positioned to benefit from growing tourism in Singapore as well as stronger revenue for high-end hotels, OCBC Investment Research said. It maintained its buy rating and a target price of S$2.00 for CDL Hospitality. Shares in the units were up 1.4 percent at S$1.785, and have gained 15.5 percent this year. "Many of the visitors from developing countries are not budget travelers," said OCBC, highlighting that the revenue per available room (RevPAR) for high-end hotels in Singapore outperformed budget hotels in January. Overall, RevPAR for Singapore hotels rose 11.7 percent in January from a year ago, while visitor arrivals grew 13.4 percent, data from the Singapore Tourism Board shows. "With the majority of its revenue coming from high-end Singapore hotels, CDL Hospitality Trusts will continue to be a beneficiary of the blossoming tourism industry," OCBC said. 0940 (0140 GMT) Reporting by Charmian Kok in Singapore Reuters messaging rm://charmian.kok.thomsonreuters.com@reuters.net ************************************************************ Singapore MSCI March futures rose 0.2 percent on Monday, signaling a positive start for the Straits Times Index . Asian shares edged higher and the dollar was firm against the yen on Monday with investors buoyed by the U.S. market hitting an almost four-year high last week and by higher European stocks reflecting signs of growing stability in the euro zone. 0838 (0038 GMT) Reporting by Charmian Kok in Singapore Reuters messaging rm://charmian.kok.thomsonreuters.com@reuters.net Link this Share this Digg this Email Reprints

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