Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Tiong Woon up after claim withdrawal

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

STOCKS NEWS SINGAPORE-Tiong Woon up after claim withdrawal Apr 9th 2012, 04:07 Mon Apr 9, 2012 12:07am EDT Shares of Singapore's Tiong Woon Corp Holding Ltd rose as much as 8 percent after the engineering and construction firm said Haosen Marine Pte Ltd had withdrawn a court claim against its subsidiary, Tiong Woon Oasis Pte Ltd. Tiong Woon shares were up 4 percent at S$0.26 on volume of 12.9 million shares, around 16 times the average full-day volume traded over the past 30 days. The stock has gained 39 percent so far this year. Haosen Marine had previously sought an indemnity, payment of damages, costs and any other relief that the court deems fit arising from an accident that occurred during a ship launching operation at a work site, Tiong Woon said in a statement late on Thursday. 1158 (0358 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 11:27 STOCK NEWS SINGAPORE-OCBC downgrades TEE to hold OCBC Investment Research downgraded Singapore engineering and property firm TEE International Ltd to hold from buy and cut its target price to S$0.28 from S$0.36. TEE shares were down 4.2 percent at S$0.23, having fallen around 2 percent so far this year. A chunk of TEE's 2012 fiscal year revenue was brought forward to the fourth quarter of 2011, hurting the company's financial performance year-to-date, OCBC said. It said TEE was unlikely to meet consensus revenue estimates for 2012. Last week, TEE said its independent and non-executive chairman, Bertie Cheng Shao Shiong, and its group chief executive and managing director, Phua Chian Kin, were being investigated by Singapore's Commercial Affairs Department on "possible contravention of market rigging provisions". "Although TEE reassured investors that its business operations are not affected by the CAD investigations, the investigations will likely cause some downward pressure to TEE's share price in the near term," OCBC said. For related company statements, click: link.reuters.com/kuk57s link.reuters.com/muk57s 1120 (0320 GMT) (Reporting by Leonard How and Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 10:48 STOCK NEWS SINGAPORE-UOB Kay Hian raises target on StarHub UOB Kay Hian increased its price target on Singapore's second biggest telecom firm StarHub Ltd to S$3.25 from S$3.09 and maintained its hold rating. StarHub shares were up 1 percent at S$3.16, having risen 8.6 percent so far this year and underperforming the broader index. The brokerage tweaked its revenue forecasts based on an anticipated faster pace of growth for fixed network services. It expects revenue to grow 20.9 percent for 2013 versus a previous estimate of 14 percent and 19.1 percent for 2014 versus a previous estimate of 13.6 percent, assuming StarHub secures 15 percent of the market outside Singapore's central business district within two years. UOB also said StarHub offered an attractive dividend yield of 6.4 percent. 1047 (0247 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 9:49 STOCKS NEWS SINGAPORE-TT International jumps on Lucrum deal Shares of Singapore's TT International Ltd surged more than 30 percent after the company signed a S$200 million ($159 million) agreement with private equity real estate firm Lucrum Capital for a warehouse retail project in the city-state. TT International trades consumer electronics and also provides warehousing and logistics services. TT International shares were up 34 percent at S$0.067 on volume of more than 38 million shares, about 9 times the average full-day volume traded over the past 30 days. The shares have jumped more than 640 percent so far this year. In January, TT International said Lucrum Capital had proposed to invest at least S$200 million in the Big Box project in Jurong, western Singapore. "This project is quite promising because Jurong is being developed as a commercial hub in Singapore. This announcement is positive because they have secured a partner," said Wilson Liew, an analyst at Maybank Kim Eng. For a related company statement, click: link.reuters.com/sek57s 0944 (0144 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 8:47 STOCK NEWS SINGAPORE-Singapore index futures fall Singapore index futures are 0.9 percent lower early on Monday, indicating a weak start for the benchmark Straits Times Index. Asian shares fell on Monday as a sharp slowdown in U.S. jobs growth raised concerns about the strength of the world's largest economy, making investors cautious ahead of more U.S. data and earnings as well as figures from China due this week. 0845 (0045 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ($1 = 1.2590 Singapore dollars) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions