Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Struggle at 4-mth low; yield play eyed

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STOCKS NEWS SINGAPORE-Struggle at 4-mth low; yield play eyed May 21st 2012, 05:09 Mon May 21, 2012 1:09am EDT Singapore shares were flat at midday, with analysts advising investors to buy stocks that offer high yields and stable cash flows to ride the volatile markets amid euro zone jitters. The Straits Times Index was largely unchanged at 2,779.04 points, still struggling at a four-month low. The index has fallen more than 8 percent since touching a year-high of 3,035.78 on March 16. DBS Vickers said the first-quarter results of Singapore companies were disappointing, with an overall 1-3 percent cut in earnings. For the next quarter, it picked companies with strong Asian presence and attractive yields. DBS liked ComfortDelGro Corp, SIA Engineering and Singapore Telecommunications with yields of more than 4 percent. In the banking sector, it favoured Oversea-Chinese Banking Corp, which it said is a relative outperformer in uncertain times. But DBS continued to underweight property in favour of real estate investment trusts, and advised investors to avoid companies with exposure to Europe. Among the worst hit were Neptune Orient Lines, Singapore Airlines, Olam International and Noble Group. The average price-to-book ratio for the Singapore market was 1.3, the lowest among Southeast Asian markets, according to Thomson Reuters data. The figure for Indonesia was the highest at 3.0. 1259 (0459 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 11:34 STOCKS NEWS SINGAPORE-Goldman says REITs defensive Goldman Sachs said it recommended buying quality Singapore real estate investment trusts (REITs) with attractive dividend yields as the market emphasises a defensive posture. "Alongside a rising SGD (Singapore dollar), we believe quality SREITs will outperform as the global macro backdrop remains challenged in the near term," it said. Goldman favoured retail REITs for their visible distribution per unit or organic growth, underpinned by firm tenant sales. Their lower dependence on acquisitions for growth is also a plus, Goldman added. Its top picks are CapitaMall Trust and Mapletree Commercial Trust. CapitaMall Trust units were up 0.9 percent on Monday, and 5 percent this year. Mapletree Commercial was 1.1 percent higher, up 8 percent since the start of the year. 1121 (0321 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 10:19 STOCKS NEWS SINGAPORE-Maybank eyes 8 stocks for bargain Broker Maybank Kim Eng said plunging global markets have made equity valuations attractive again and opportunities for bottom-picking are emerging. The Straits Times Index was down 0.2 percent at 2,774.10 points, having lost around 9 percent since touching a year-high of 3,035.78 on March 16. The broker's top picks are rig builders Keppel Corp Ltd and Sembcorp Marine Ltd, contract manufacturer Venture Corp Ltd, property firms CapitaLand Ltd, Keppel Land and CapitaMalls Asia Ltd, as well as CapitaMall Trust and Ascendas REIT. Maybank said it selected these stocks on the basis of their price-to-book value and, in the case of the REITs, their distribution per unit yield curve. 1007 (0207 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 09:39 STOCKS NEWS SINGAPORE-Tiger Airways down after Q4 loss Shares of Tiger Airways Holdings Ltd fell nearly 4 percent on Monday after the budget carrier swung to a fourth-quarter net loss from a net profit a year earlier and warned of a challenging business environment. Tiger shares dipped as much as 3.9 percent to S$0.615, underperforming the FT ST Small Cap Index which lost 0.1 percent. Tiger stock has dropped around 3 percent so far this year. Tiger posted a net loss of S$16.4 million ($12.9 million) for the three months ended March, compared to a net profit of S$1.4 million a year ago, dragged by the grounding of its aircraft and flying restrictions in Australia as well as high fuel costs. "The group continues to face a challenging business environment and remains exposed to high and volatile fuel prices," the carrier said in a statement. UOB Kay Hian lowered its price target on the stock to S$0.51 from S$0.64 and maintained its sell rating. It said operating losses worsened sequentially for Tiger's Singapore operations due to low yields and for Tiger's Australia operations because of low utilisation. The broker cut its net profit forecast for Tiger's 2013 fiscal year by S$9 million to S$30 million. It said major risks include continued losses in Australia, further provisions for doubtful debts and its status as the guarantor on Mandala Airlines' leases. 0928 (0128 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) *********************************************************** 08:41 STOCKS NEWS SINGAPORE-Index futures rise 0.3 pct Singapore index futures rose 0.3 percent early on Monday, indicating a higher start for the benchmark Straits Times Index . Asian markets remained cautious on Monday despite world leaders calling for Greece to stay in the euro zone and for Europe to balance austerity with growth, with investors unwilling to take risks before Greek elections next month. 0837 (0037 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ($1 = 1.2735 Singapore dollars) Link this Share this Digg this Email Reprints

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