Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-CIMB says QAF ripe for privatisation

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STOCKS NEWS SINGAPORE-CIMB says QAF ripe for privatisation Mar 29th 2012, 06:44 Thu Mar 29, 2012 2:44am EDT CIMB Research said conditions are ripe for Singapore food firm QAF Ltd to be taken private, and the company also offers attractive dividends. QAF shares were up 2.7 percent at S$0.75, and have gained around 29 percent so far this year. CIMB said QAF's shareholder Andre Halim had been slowly increasing his stake from 55 percent in 2003 to 62.27 percent, and QAF had also not tapped the capital markets for funds in the past eight years due to its strong cash flows. "QAF can easily enhance value by ploughing into the bakery business any capital freed up by jettisoning non-core assets. Conditions are also ripe for QAF to be taken private. In the meantime, investors can continue milking QAF for dividends." The company's dividend yield of 6.7 percent is more than double the regional average of 3.2 percent, it said. For QAF's results, click: link.reuters.com/myc47s 1435 (0635 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 13:56 STOCKS NEWS SINGAPORE-UOB reiterates sell call on ST Engineering UOB Kay Hian reiterated its sell recommendation on SIA Engineering and said investors looking for dividend yield should instead buy shares of Singapore Technologies Engineering (ST Engineering). SIA Engineering gets two-thirds of its revenue from parent Singapore Airlines Ltd, which has been cutting capacity at its cargo unit. "The market has not priced in risk of capacity cuts. Maintenance revenue is typically based on flight cycles and as airlines cut capacity due to weak demand, revenue would be impacted," UOB Kay Hian said in a research note. The brokerage maintained its sell recommendation on SIA Engineering but raised the target price to S$3.80 from S$3.30 a share. It also said that the orderbook of rival aircraft maintenance firm ST Engineering is backward loaded and less vulnerable to a cyclical slowdown. Singapore Airlines said last month it was cutting its cargo capacity by 20 percent as global economic slowdown led to persistent weakness in demand and high jet fuel prices piled pressure on its profitability. SIA Engineering's shares had risen by around 20 percent so far this year, outperforming the 13 percent gain in the broader Singapore market. (Reporting by Harry Suhartono in Singapore; harry.suhartono@thomsonreuters.com) ************************************************************ 13:55 STOCK NEWS SINGAPORE-Kreuz falls 8 pct after placement Shares of Singapore offshore marine services provider Kreuz Holdings Ltd KRZL.SI fell 8 percent in heavy volume, hitting a three-week low after a placement of its shares at a discount. Kreuz shares declined to S$0.345, with nearly 79 million shares traded, 48 times the average full-day volume traded in the last 30 days. Kreuz was the top traded stock by volume. The company on Thursday announced the placement of 50 million new shares and 20 million vendors shares at S$0.34 each. The money raised from the new shares would go towards capital expenditure. For related story click: 1223 (0423 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok.thomsonreuters.com) ************************************************************ 13:54 STOCKS NEWS SINGAPORE-Index lower at mid-session, Cordlife soars Singapore shares look set to fall for a second straight day on Thursday in trading dominated by smaller cap stocks such as cord blood and tissue banking firm Cordlife Group Ltd CORD.SI and subsea services provider Kreuz Holdings KRZL.SI. The Straits Times Index .FTSTI was down 0.25 percent, or 7.56 points, at 3,008.42 midway into the trading session. Big-cap losers included United Overseas Bank UOBH.SI and casino operator Genting Singapore GENS.SI. Cordlife shares surged as much as 28 percent above its IPO price of S$0.495 in its trading debut in Singapore. Kreuz, on the other hand, fell 8 percent after a share placement. They were the top two traded stocks by both value and volume. 1248 (0448 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata.thomsonreuters.com) ************************************************************ 11:56 STOCKS NEWS SINGAPORE-DBS bullish on small mid-cap firms DBS Vickers Securities said valuations in small mid-cap firms were normalising after a recent rally in markets and it stayed upbeat on oil and gas stocks on persistently high oil prices and earnings upgrades. The broker's stock picks include Ezion Holdings Ltd for high earnings visibility and strong execution. It highlighted CH Offshore and ASL Marine Holdings Ltd as turnaround plays, likely to benefit from the improving charter market and more orders for offshore support vessels. "As we are no longer in a 'rising tide market', the only stocks to see a further uplift will be those expecting a turn around in fortunes, sustained profit growth or upside to current forecasts," it said. "Our turnaround picks are Venture Corp Ltd for a continuation of the tech rebound, China Minzhong Food Corp Ltd for better harvest near term, and Tiger Airways Holdings Ltd for its stronger operational efficiencies," DBS said. It also sees potential earnings upside for Sound Global Ltd , Luye Pharma Group Ltd, ARA and Biosensors International Group Ltd. 1140 (0340 GMT) (Reporting by Mark Tay in Singapore; mark.tay.thomsonreuters.com) ************************************************************ 10:35 STOCKS NEWS SINGAPORE-Nam Cheong rises on contract wins Shares of Singapore-listed Malaysian offshore vessel builder Nam Cheong Ltd rose as much as 5.4 percent after it said its subsidiaries sold three vessels for $36.8 million. The vessels were sold to new customers from Singapore, including a Norwegian-based company, and are due for delivery in the second and third quarters of 2012, Nam Cheong said in a statement. Nam Cheong shares were up 4.9 percent at S$0.194 with volume of more than 4.3 million shares. This was 1.7 times the average daily volume traded over the last five sessions. Analysts said the contract wins were positive for Nam Cheong, as they mark an expansion in its customer base. "It's good that orders have been coming in, as they typically build the vessels before receiving orders from customers," said an analyst. For related story, click: 1028 (0228 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok.thomsonreuters.com) ************************************************************ 08:44 STOCKS NEWS SINGAPORE-Singapore index futures fall Singapore index futures dipped 0.17 percent, indicating a weak start for the benchmark Straits Times Index . Asian shares eased for a second day in a row on Thursday as investors' concerns about growth prospects in the United States and China grew. Wednesday's data on new orders for U.S. durables increased modestly in February, falling below analysts' forecasts. 0840 (0040 GMT) (Reporting by Mark Tay in Singapore; mark.tay.thomsonreuters.com) Link this Share this Digg this Email Reprints

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