Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-JPMorgan starts Tiger Airways as overweight

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STOCKS NEWS SINGAPORE-JPMorgan starts Tiger Airways as overweight Apr 10th 2012, 06:33 Tue Apr 10, 2012 2:33am EDT JPMorgan initiated coverage on Tiger Airways Holdings Ltd with an overweight recommendation, citing the prospect of strong profit growth in the 2014-2015 financial year and a boost from its affiliates in Indonesia and Philippines. Tiger Air, the short-haul low-cost-carrier unit of Singapore Airlines Ltd (SIA), has been hit by the grounding of its fleet in Australia by the regulator last year due to safety concerns. "With the normalization of Tiger Australia's operations and continued passenger or ancillary income growth, EBITDAR margins are likely to return to 21 percent in 2013 financial year, similar to the 2010-2011 level, after falling to around 5 percent in 12," JPMorgan said in a report. Tiger's shares were up 2 percent at S$0.75, having gained more than 18 percent so far this year after plunging last year. JPMorgan also started coverage on Malaysia's AirAsia as overweight. 1425 (0625 GMT) For a related story on Southeast Asian carriers click: (Reporting by Harry Suhartono in Singapore; harry.suhartono@thomsonreuters.com) *********************************************************** 13:21 STOCKS NEWS SINGAPORE-Index edges up, ST Engineering gains Singapore shares rose by mid-day, outperforming weak Asian markets, with United Overseas Bank Ltd and Singapore Technologies Engineering Ltd figuring among big-cap gainers. The Straits Times Index ticked up 0.3 percent to 2,967.8 after hitting a one-month low in the previous session. MSCI's broadest index of Asia Pacific shares outside Japan fell 0.4 percent on Tuesday. UOB shares gained 1 percent, while ST Engineering rose as much as 2.3 percent after its marine arm won a contract worth about S$880 million ($699 million) to design and build four patrol vessels for Oman's navy and brokers issued upbeat reports. Petroleum firm Interra Resources Ltd surged as much as 22 percent to S$0.44, the highest in more than 5-1/2 years on persistent interest in its exposure to Myanmar. The shares were the top traded by both value and volume in the Singapore market. 1310 (0510 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) *********************************************************** 13:07 STOCKS NEWS SINGAPORE-CIMB sees container freight rates rising CIMB expects container shipping companies to uphold proposed increases in Transpacific freight rates as carriers look to reduce their losses. The brokerage, which has a trading buy call on Neptune Orient Lines Ltd (NOL), said the world's seventh largest container shipping company's decision to operate bigger ships will help lower its unit costs over the next three years. "The proposed 1 April $400/TEU rate hike on the Asia-Europe route seems to be a huge success as rates increased by a combined $392-399/teu over the past two weeks," CIMB said in a report. "The proposed $400 per forty foot equivalent unit rate hike on the Transpacific on 15 April will be successful as well due to the high slot utilisation of above 90 percent on carriers." About 30 percent of NOL's annual volume comes from the Transpacific route and 17 percent coming from Asia-Europe trade. NOL shares were up 0.7 percent at S$1.4, having risen about 26 percent this year. Ten out of 24 analysts tracking NOL have a sell or strong sell rating, while eight have a hold and six have a buy or strong buy recommendation, according to StarMine data. For a related story on Maersk, click: 1250 (0450 GMT) (Reporting by Harry Suhartono in Singapore; harry.suhartono@thomsonreuters.com) *********************************************************** 10:51 STOCKS NEWS SINGAPORE-ST Engineering up after contract win Shares of Singapore Technologies Engineering Ltd rose as much as 2.3 percent after its marine arm won a contract worth about S$880 million ($699 million) to design and build four patrol vessels for Oman's navy. Brokerage DBS Vickers said the latest contract, ST Marine's second significant win for the year, brings total orders secured year to date to S$1.3 billion ($1 billion). DBS upgraded ST Engineering to buy from hold and raised its price target to S$3.40 from S$3.25. ST Engineering shares were up 1.6 percent at S$3.14. The stock has risen around 17 percent so far this year, outperforming a 12 percent rise in the broader market. With S$3.2 billion worth of new contracts secured in 2011 fiscal year, ST Engineering's outstanding order book could reach a record level exceeding $12.5 billion, providing healthy earnings visibility in 2012/2013, DBS said. For a related story, click: 1035 (0235 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) *********************************************************** 10:07 STOCKS NEWS SINGAPORE-Maybank Kim Eng ups target on First Resources Maybank Kim Eng raised its price target on palm oil producer First Resources Ltd to S$2.15 from S$1.95 and maintained its buy rating. First Resources shares were up 1.3 percent at S$1.915, having gained 27 percent so far this year. Kim Eng raised its 2012-2014 net profit forecasts by 10-15 percent mainly to reflect its higher crude palm oil average selling price assumptions. The deterioration of South American crop prospects over the last month has further tightened global supplies of soybeans, the broker said. Further upside could come from higher-than-expected fresh fruit bunches output for 2012, it said. Kim Eng said First Resources is also on track to complete its refining and fractionation capacity expansion to 850,000 tonnes per year by the first quarter of 2013. For a related story, click: 0955 (0155 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) *********************************************************** 09:37 STOCKS NEWS SINGAPORE-Credit Suisse upgrades Indofood Agri Credit Suisse upgraded palm oil firm Indofood Agri Resources Ltd (IFAR) to outperform from neutral and raised its price target to S$1.90 from S$1.67. IFAR shares were up 0.7 percent at S$1.53, having risen 21 percent so far this year. Credit Suisse increased its earnings per share estimates for IFAR's 2012-2014 fiscal years by 5-9 percent respectively. It said every 100 ringgit ($32.6) increase in crude palm oil (CPO) price will boost IFAR's earnings by 4.6 percent. "IFAR is now the cheapest plantation company under our coverage. We believe IFAR's high earnings sensitivity to CPO price, its higher liquidity, and its relatively undemanding valuation will bolster its trading multiple to re-rate." 0930 (0130 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) *********************************************************** 08:46 STOCKS NEWS SINGAPORE-Singapore index futures edge lower Singapore index futures were down 0.1 percent, indicating a lower start for the benchmark Straits Times Index . Two major bourses in Asia opened higher on Tuesday with Nikkei index rising 0.5 percent and Korea Composite Stock Price Index gaining 0.1 percent. However, investors are likely to a keep an eye on trade data from China, the world's second-largest economy. 0840 (0040 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ($1 = 3.0715 Malaysian ringgits) ($1 = 1.2621 Singapore dollars) Link this Share this Digg this Email Reprints

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