Reuters: Hot Stocks: STOCKS NEWS ASEAN-Kim Eng bullish on Singapore's Lian Beng

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STOCKS NEWS ASEAN-Kim Eng bullish on Singapore's Lian Beng Mar 14th 2012, 02:38 Tue Mar 13, 2012 10:38pm EDT Maybank Kim Eng expects a higher valuation for Singapore property developer, Lian Beng, due to the spin-off and listing of its subsidiaries in Taiwan. "Buy now and be rewarded by the imminent Taiwan listing of Lian Beng's subsidiaries and potential special dividends of up to 1.6 cents per share," the broker said and maintained its price target of S$0.62. Lian Beng shares rose 2.6 percent to S$0.40. Kim Eng estimates its fair valuation could rise to S$0.71 from S$0.62. The broker expects Lian Beng to raise about S$29 million from the expected sale of a 30 percent stake in the subsidiaries. 1020 (0220 GMT) (Reporting by Mark Tay in Singapore) Reuters messaging rm://mark.tay.thomsonreuters.com@reuters.net *********************************************************** 08:40-STOCKS NEWS ASEAN-Singapore index futures rise 0.9 pct Singapore MSCI March futures gained 0.9 percent on Wednesday, indicating a higher start for the Straits Times Index . Both Tokyo and Seoul shares rallied in early trade to fresh seven-month highs, tracking U.S. stocks which posted their best day of the year after a slightly stronger economic outlook from the Federal Reserve and upbeat retail sales data. Japan's benchmark Nikkei rose 1.9 percent, while the Korea Composite Stock Price Index advanced 1.2 percent. 0840 (0040 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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