Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-CIMB ups Frasers Centrepoint target price

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STOCKS NEWS SINGAPORE-CIMB ups Frasers Centrepoint target price Apr 24th 2012, 01:44 Mon Apr 23, 2012 9:44pm EDT CIMB Research raised its target price for Frasers Centrepoint Trust, which owns shopping malls, to S$1.75 from S$1.65 and kept its outperform rating. Units of Frasers Centrepoint were 0.3 percent lower at S$1.555, and have gained 8 percent since the start of the year. Frasers Centrepoint on Monday said its distribution per unit for the second quarter rose 20.8 percent to a record high of 2.50 Singapore cents from a year ago, boosted by higher revenue and net property income. The broker increased its distribution per unit estimates for Frasers Centrepoint to reflect stronger rentals and margins, and positive management guidance on second half earnings. A favourable retail outlook and results from upgrading its Singapore mall Causeway Point will also help Frasers Centrepoint, CIMB said. For related story click link.reuters.com/qes77s 0913 (0113 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 8:41 STOCKS NEWS SINGAPORE-Index futures slightly higher Singapore index futures were up 0.03 percent, indicating a weak start for the benchmark Straits Times Index . Asian shares fell on Tuesday as political uncertainty and disappointing data in Europe raised fears the euro zone could struggle to push through austerity measures and may stay in recession until late in the year. 0839 (0039 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) Link this Share this Digg this Email Reprints

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