Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-DBS Vickers starts Kreuz with buy rating

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STOCKS NEWS SINGAPORE-DBS Vickers starts Kreuz with buy rating Jun 4th 2012, 04:12 Mon Jun 4, 2012 12:12am EDT DBS Vickers initiated coverage of Singapore offshore marine services provider Kreuz Holdings Ltd with a 'buy' rating, citing attractive valuations and a positive outlook for order flow. Kreuz shares were up around 2 percent at S$0.26, outperforming the FT ST Small Cap Index which was down 1.7 percent. Kreuz shares have fallen nearly 19 percent so far this year, compared to a 4 percent rise in the index. DBS said its target price of S$0.43 is pegged at six times Kreuz's 2012 fiscal year earnings, which it said is at a "conservative" 10 percent discount to the firm's Singapore-listed small-cap offshore services peers. The buoyant offshore market is likely to drive good order flows for Kreuz, leading to a compound annual growth rate of 15 percent for 2011-2013 fiscal year net profit, said DBS, adding that catalysts should come from new order wins in the near term. 1149 (0349 GMT) (Reporting by Leonard How in Singapore; leonard.how@thomsonreuters.com) ************************************************************ 09:52 STOCKS NEWS SINGAPORE-Maybank Kim Eng picks 4 top S-REITs Maybank Kim Eng said its top picks in the Singapore real estate investment trust (S-REITs) sector included CapitaMall Trust and Frasers Centrepoint Trust in the retail segment, as well as Ascendas REIT and Mapletree Logistics Trust in the industrial space. The broker said rental income resilience, total rate of return, accretive distributions and stable payout track record are some of the parameters it used to scrutinise the operating history of the S-REITs since their initial public offering. "Barring a full-blown European debt crisis, we also think that it is unlikely that S-REITs will be de-rated to the levels seen during the global financial crisis due to stronger balance sheets and the absence of credit tightening," it said. Its top sells are K-REIT Asia and CapitaCommercial Trust as it saw further downside in their distribution per unit, which would make valuations unattractive. 0932 (0132 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) Link this Share this Digg this Email Reprints

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