Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-DBS says Hi-P, Amtek may rebound

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STOCKS NEWS SINGAPORE-DBS says Hi-P, Amtek may rebound Apr 26th 2012, 03:58 Wed Apr 25, 2012 11:58pm EDT DBS Vickers expects Singapore's technology sector to be more muted in the first quarter than initially expected as economic uncertainties loom and margins are weak but that Hi-P International Ltd and Amtek Engineering Ltd may turn around. The sector's core profit in the first quarter is forecast to fall 16 percent from the previous quarter, below the initial expectation for a small rebound, DBS said. But growth in the 2012 fiscal year remains intact given the continuous recovery in sales and margins going into the second quarter, it said. "Tech stocks could be lackluster near term but keep watch on Hi-P and Amtek for potential turnaround," it said. Hi-P shares were up 0.6 percent at S$0.915 and have gained more than 50 percent so far this year. Amtek was 0.7 percent higher at S$0.695 and has risen 17 percent since the start of the year. 1121 (0321 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 11:27 STOCKS NEWS SINGAPORE-DBS may post 5 pct fall in Q1 profit-poll DBS Group, Southeast Asia's largest bank, is expected to report a 5 percent drop in first quarter net profit before the market opens on Friday, hurt by lower interest margins and a decline in fee income. DBS will kick off the earnings reporting of Singapore's banks, including Oversea-Chinese Banking Corp OCBC.SI and United Overseas Bank Ltd UOBH.SI. DBS will report net earnings of S$764 million ($614 million) for the three months ended in March, according to the average estimate of five analysts polled by Reuters. That would be lower than its earnings of S$807 million a year earlier. DBS shares fell as much as 7 percent earlier this month after it said it would buy Bank Danamon BDMN.JK in a deal that valued the Indonesian bank at $7.2 billion, or 52 percent above the last traded price. DBS shares were down 0.4 percent at S$13.65 on Thursday - 3.7 percent lower than before the Danamon deal was announced. But the shares have gained about 18 percent since the start of the year. For a related interview with DBS, click 1120 (0320 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 10:37 STOCKS NEWS SINGAPORE-CIMB cuts Sheng Siong to neutral CIMB Research downgraded supermarket chain operator Sheng Siong Group Ltd to neutral from outperform and cut its target price to S$0.49 from S$0.51, citing intense competition that could further hurt its profits. Sheng Siong's shares were down 1 percent at S$0.48, but have gained 9 percent so far this year, underperforming the FT ST Small Caps Index's 16 percent rise. Sheng Siong reported a 74 percent rise in quarterly net profit to S$16.8 million, but CIMB said its core earnings per share was below its expectations, due to lower-than-expected gross margins. CIMB cut its 2012-2014 earnings per share estimates for Sheng Siong by 3-8 percent and said the company's cost savings from bulk handling and higher-margin fresh foods were eroded by higher promotions and discounts. Out of 5 analysts tracking Sheng Siong, 2 have a buy rating while 3 have a hold recommendation. For related statement, click link.reuters.com/wuf87s 1025 (0225 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 10:00 STOCKS NEWS SINGAPORE-Maybank downgrades SIA to hold Maybank Kim Eng cut its rating on Singapore Airlines Ltd (SIA) to hold from buy and expects the airline to report a weak quarterly results due to rising fuel prices. The brokerage reduced SIA's target price to S$11.05 from S$14.40. The airline's shares were 0.3 percent lower at S$10.67, and have gained 5 percent so far this year versus a 12 percent rise in the main market. SIA reports January-March results on May 9. Out of 23 analysts tracking SIA, only 6 have a buy rating, 13 have a hold and 4 have a sell recommendation. "Concerns over jet fuel prices, together with lingering uncertainties in the global economy, in particular Europe, pose strong headwinds to SIA and the aviation sector as a whole," Kim Eng said in a report. It said although SIA's passenger yields seem to be steadying, falling cargo yields could hurt its profitability. 0950 (0150 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ********************************************************** 08:43 STOCKS NEWS SINGAPORE-Index futures up 0.1 percent Singapore index futures inched up 0.1 percent, indicating a weak start for the benchmark Straits Times Index . Asian shares gained on Thursday, retaining positive momentum as the Federal Reserve reassured markets that it will keep its very accommodative stance to support growth, and optimism grew over strong corporate earnings after Apple Inc's robust results. To read a related story, click 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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