Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Maybank Kim Eng starts Amtek at buy

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STOCKS NEWS SINGAPORE-Maybank Kim Eng starts Amtek at buy Apr 2nd 2012, 02:59 Sun Apr 1, 2012 10:59pm EDT Maybank Kim Eng initiated coverage of Singapore's precision engineering firm Amtek Engineering Ltd with a buy rating and a target price of S$1.09. Amtek shares were up 3.5 percent at S$0.74, and have gained 25 percent so far this year. However, Amtek's shares are still below their initial public offering price of S$1.30, and Maybank recommended investors to accumulate the shares, as earnings are expected to recover from the middle of this year. Although Amtek trades at lower valuations compared to its other contract manufacturing peers, the company stands out for its high return on equity and dividend yield, as well as the potential for margin expansion, said Maybank. "A conscious effort to focus on high margin business segments could translate into opportunities for margin expansion for Amtek," the broker said. 1052 (0252 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok.thomsonreuters.com) ************************************************************ 10:30 STOCKS NEWS SINGAPORE-UOB downgrades Wheelock to hold UOB Kay Hian cut its rating on Wheelock Properties (Singapore) Ltd to hold from buy and retained its target price at S$2.00, citing a rally in its shares this year and a cloudy outlook for luxury homes. Shares of Wheelock were 0.5 percent lower at S$1.875, and have gained 24 percent so far this year. At Wheelock's current share price, UOB estimates the market has priced in expectations of a possible privatisation of the company. Despite a pick up in overall Singapore's home sales in the first two months of the year, sentiment in the luxury market segment remain depressed and may hurt Wheelock, whose entire residential project inventory in Singapore is in the high-end, UOB said in a note. The broker said foreigners, who account for about 30-50 percent of buyers in the luxury segment, are likely to remain on the sidelines amid volatile global economic conditions and additional buyer stamp duties in Singapore. For a related story, click: 1016 (0216 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok.thomsonreuters.com) ************************************************************ 09:56 STOCKS NEWS SINGAPORE-CIMB starts Super Group at outperform CIMB Research initiated coverage of Singapore's Super Group Ltd, which makes instant beverages, with an outperform rating and a target price of S$2.37. Shares of Super were 1.1 percent higher at S$1.825 and have surged 39 percent so far this year. "Super offers great exposure to the rapidly-growing middle classes in difficult to penetrate Southeast Asian markets like Myanmar, where it is the top seller of instant coffee," CIMB said in a report. The company has also partnered key local players such as Petra in Indonesia and San Miguel in the Philippines to tap on their distribution networks, CIMB said. The brokerage expects Super's return on equity to improve, helped by rapid growth in its ingredients segment. 0947 (0147 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok.thomsonreuters.com) ************************************************************ 08:51 STOCKS NEWS SINGAPORE-Index futures signal positive start Singapore index futures rose 0.3 percent, indicating a positive start for the benchmark Straits Times Index, buoyed by stronger-than-expected Chinese manufacturing data. Asian shares kicked off the second quarter in positive territory on Monday as risk appetite returned, with the MSCI's broadest index of Asia Pacific shares outside Japan rising 0.5 percent. 0850 (0050 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok.thomsonreuters.com) Link this Share this Digg this Email Reprints

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