Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Singapore residential sector to see soft landing-Maybank

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STOCKS NEWS SINGAPORE-Singapore residential sector to see soft landing-Maybank Jun 19th 2012, 03:44 Mon Jun 18, 2012 11:44pm EDT Singapore's home sales could be headed for a soft landing after the number of new homes sold in May dropped to the lowest so far this year, possibly signalling waning demand, Maybank Kim Eng said. New home sales excluding executive condominiums declined 32 percent month-on-month to 1,702 units, snapping a three-month streak that saw sales of more than 2,000 units per month, data from the Urban Redevelopment Authority showed. "Barring another economic catastrophe, we think that the combination of unsold inventory build-up, buyers' fatigue and continued policy risks still point to a soft-landing for private residential property prices, which we expect to decline by 10 percent over the next 18 months," Maybank said in a report. The broker does not rule out further government intervention given the decline in sales volume in May and reiterated CapitaMalls Asia as its top pick for its non-residential exposure, followed by diversified players including CapitaLand and Keppel Land. Shares in CapitalMalls Asia have jumped nearly 32 percent this year, while CapitaLand rose 22 percent and Keppel Land is up nearly 39 percent. Last week, the government announced the release of up to 12 confirmed residential sites for sale yielding around 7,100 new homes. For a statement, click: link.reuters.com/fyd88s 1115 (0315 GMT) (Reporting by Leonard How in Singapore; leonard.how@thomsonreuters.com) ************************************************************ 10:24 STOCKS NEWS SINGAPORE-Aussino at 3-year high on Myanmar move Shares of Aussino Group Ltd surged more than one third and extended the previous day's gains after the bed linen company unveiled plans to enter the petrol kiosk business in Myanmar through an acquisition. Aussino was among the top 10 traded stocks with more than 6.7 million shares traded, 4.2 times the average full-day volume traded over the past 30 days. The thinly-traded stock has seen its volume shoot up over the past month. Aussino shares rose as much as 38.5 percent to S$0.144, the highest since May 2009, while the FT ST Fledgling index edged up 0.2 percent. The stock has more than tripled so far this year. Shares of Myanmar-focused firms including property developer Yoma Strategic Holdings Ltd and petroleum firm Interra Resources Ltd have jumped this year as investors seek to benefit from the political opening of the Southeast Asian country. "Myanmar plays have been the flavour of the year," said Bernard Chin, an analyst at Maybank Kim Eng. But he advised investors to be cautious as there were still legal and political risks to investing in Myanmar. Aussino said on Monday it plans to acquire Max Strategic Investments Pte Ltd for S$60 million ($47 million) and the purchase offered growth potential in an emerging market. For a related story, click 1017 (0217 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ($1 = 1.2723 Singapore dollars) Link this Share this Digg this Email Reprints

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