Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-DBS upgrades CSE Global to buy

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STOCKS NEWS SINGAPORE-DBS upgrades CSE Global to buy May 14th 2012, 03:17 Sun May 13, 2012 11:17pm EDT DBS Vickers upgraded CSE Global Ltd to buy from hold and raised its price target to S$0.90 from S$0.82, saying the company offers a 7 percent yield and its first-quarter net profit was on the high end of expectations. CSE is a technologies provider in the industrial automation, telecommunications, environmental and healthcare markets. Its shares were up 2.8 percent at S$0.735 but have lost around 2 percent so far this year. CSE sold its 30.94 percent stake in Malaysia's eBworx Bhd for S$21.4 million ($17.1 million) in cash and this will lead to higher profit and dividends, DBS said. CSE will record a one-time gain of S$10.3 million from the sale. CSE is bidding for six projects each worth S$40 million to S$100 million in the liquefied natural gas sector in Australia and DBS expects the firm to win at least one. For a related story, click link.reuters.com/tur28s 1105 (0305 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 10:08 STOCKS NEWS SINGAPORE-CIMB raises Frasers Commercial target CIMB Research raised its target price for Frasers Commercial Trust, which owns office assets in Asia, to S$1.14 from S$0.96 and maintained its outperform rating. Units of FCT were flat at S$0.935 but have gained 27 percent since the start of the year. The broker raised its distribution per unit estimates for FCT to factor in the use of proceeds from the sale of its KeyPoint property to partially redeem its convertible perpetual preferred units. FCT could unlock more value for its unitholders as the management is looking to exit the Japanese market, where its assets are worth S$114 million in total, CIMB said. CIMB said it expects FCT's stock price to see more upside as it offered an attractive yield of 8.9 percent for the fiscal year ended September. For related story, click 1004 (0204 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 9:22 STOCKS NEWS SINGAPORE-OCBC upgrades UOL to buy OCBC Investment Research has upgraded property developer UOL Group Ltd to buy from hold and raised its target price to S$4.80 from S$4.77, citing higher average selling prices for one of its projects in Singapore. By 0111 GMT, shares of UOL were 0.5 percent lower at S$4.47 but have risen nearly 12 percent since the start of the year. UOL's first quarter net profit fell 63 percent to S$84 million ($67.2 million) due to lower revenue from property development and a drop in its share of profits from associated companies. This was in line with OCBC's expectations, with the broker saying UOL will continue to see revenue recognition from several Singapore properties. "Given limited land bank, we believe UOL to be relatively sheltered from uncertainties in the domestic residential space ahead," OCBC said in a report. For related story, click 0917 (0117 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 8:46 STOCKS NEWS SINGAPORE-Index futures up 0.3 percent Singapore index futures edged up 0.3 percent, indicating a positive start for the benchmark Straits Times Index after the market fell 3.6 percent last week. Asian shares eased on Monday as investors saw more reasons to cut risk after talks in Greece to form a new government failed, a German vote pointed to growing opposition to austerity steps and China took further steps to support its fragile growth. For related story, click (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ($1 = 1.2504 Singapore dollars) Link this Share this Digg this Email Reprints

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