Reuters: Hot Stocks: STOCKS NEWS ASEAN-Sakari margins poised to grow - CIMB

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STOCKS NEWS ASEAN-Sakari margins poised to grow - CIMB Mar 21st 2012, 03:46 Tue Mar 20, 2012 11:46pm EDT CIMB Research said Singapore-listed coal miner Sakari Resources Ltd is in the early stages of making its business model more efficient and will see higher profit margins as it increases production at its Northern Leases mines. The broker raised its share price target for Sakari to S$ 2.73 from S$2.71 and kept its outperform rating. Recent changes to Indonesia's mining rules regarding foreign investment will not affect Sakari and its mines are structured as domestically owned investments, CIMB said. By 0315 GMT, shares of Sakari were 0.8 percent lower at S$2.41 but have gained 31 percent so far this year. 1117 (0317 GMT) Reporting by Charmian Kok in Singapore Reuters messaging rm://charmian.kok.thomsonreuters.com@reuters.net ************************************************************ 10:28 STOCKS NEWS ASEAN-DBS starts Sheng Siong at hold DBS Group Research has initiated coverage of Singapore supermarket operator Sheng Siong Group Ltd with a hold rating and a share price target of S$0.49. Sheng Siong shares were up 1 percent at S$0.49 in morning trade. DBS said Sheng Siong is a niche player in a defensive sector, with a 90 percent dividend payout ratio, free cashflow of 3 to 4 Singapore cents per share going forward and higher dividend yields than its peers. Its compound annual growth rate for core earnings in the 2011-2013 fiscal years is projected at 20 percent, driven by store expansions and operating efficiencies from a new warehouse, DBS said. It said the current share price looks fairly valued. 1013 (0213 GMT) Reporting by Eveline Danubrata in Singapore Reuters messaging rm://eveline.danubrata.thomsonreuters.com@reuters.net ************************************************************ 10:04 STOCKS NEWS ASEAN-OCBC downgrades CapitaCommercial Trust OCBC Investment Research has downgraded Singapore's CapitaCommercial Trust (CCT) to hold from buy and lowered its share price target to S$1.14 from S$1.29. CCT shares were up 1.2 percent at S$1.235 in early trade. OCBC forecast office rentals in Singapore would fall 10-15 percent in the 2012 fiscal year due to macroeconomic uncertainties and an ample office pipeline. It added that office capital values could come under pressure. "For CCT's share price, we see key risks stemming from fair value write-downs as the domestic office sector softens further," OCBC said. But it said any price downside is likely to be capped by a currently undemanding valuation of 0.7 times price-to-book ratio and a fairly attractive yield of 5.7 percent for high quality Grade A office exposure. 0956 (0156 GMT) Reporting by Eveline Danubrata in Singapore Reuters messaging rm://eveline.danubrata.thomsonreuters.com@reuters.net ************************************************************ 09:32 STOCKS NEWS ASEAN-Otto Marine up on contract win Shares of Singapore's Otto Marine Ltd rose as much as 4.1 percent on Wednesday after the offshore marine firm said it won a North Sea ship chartering contract worth $36.5 million over five years. Otto Marine shares were up 2.7 percent at S$0.15 on volume of 6.3 million shares - 1.6 times the average full-day volume traded in the last 30 days. An option to extend the contract for two more years could raise the total value of the deal to around $52.4 million, Otto Marine said in a statement. The contract was awarded by SeaHold GEOSHIPS Ltd, a UK-based shipping company supporting offshore oil and gas and renewable energy projects. 0926 (0126 GMT) Reporting by Eveline Danubrata in Singapore Reuters messaging rm://eveline.danubrata.thomsonreuters.com@reuters.net Link this Share this Digg this Email Reprints

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