Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Index up for third day in a row

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STOCKS NEWS SINGAPORE-Index up for third day in a row Jun 19th 2012, 05:59 Tue Jun 19, 2012 1:59am EDT Singapore shares rose for the third straight session, with commodity stocks extending their gains and small-cap firm Aussino Group Ltd surging by more than a third on the bed linen company's plan to enter Myanmar's petrol kiosk business. Shares of Olam International Ltd rose 3.5 percent and Noble Group Ltd advanced 1.8 percent on Tuesday. Both firms were among the top three traded stocks by value in Singapore. Commodity shares are among the worst performers in the index this year on concerns about slowing economic growth. The Straits Times Index was up 0.5 percent at 2,839.2 points, while MSCI's broadest index of Asia Pacific shares outside Japan slipped 0.1 percent. The Singapore bourse has gained 2.4 percent so far this month. Shares of Aussino Group shot up as much as 38.5 percent to the highest in more than three years. By midday, some 9 million Aussino shares were traded, 5.7 times the average full-day volume over the past 30 days. 1354 (0554 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 13:18 STOCKS NEWS SINGAPORE-CIMB says SPH a "pseudo retail REIT" Singapore Press Holdings Ltd is becoming increasingly like a retail real estate investment trust (REIT), CIMB Research said, noting its growing retail property arm and stable media business, as well as typical payouts of more than 90 percent. While SPH's newspaper and magazine segment is expected to remain dominant and underpin cash flows, CIMB said growth is likely to come increasingly from the firm's retail malls. "With a growing property arm, we do not dismiss the possibility of a spin-off or sale of assets to a REIT over the longer term," CIMB said, adding that SPH has a strong balance sheet and limited cash-call risks. The broker also said SPH is a cheaper alternative for investors seeking exposure to retail Singapore REITS after the stock's underperformance, offering yields of 6.4 percent versus an average of 6.1 percent for retail Singapore REITs. SPH shares were up 0.3 percent at S$3.79 on Tuesday, while the Straits Times Index was 0.7 percent higher. So far this year, SPH has risen nearly 3 percent, underperforming the 7.5 percent gain in the index. CIMB said revenue compound annual growth rate for SPH's "gem asset", Paragon shopping mall in Singapore, stood at 8.3 percent over 2006-2011, outstripping growth for comparable assets under retail Singapore REITs. It expected similar success for SPH's Clementi Mall during its first renewal cycle and for Sengkang Mall on completion. It upgraded its rating on SPH to outperform from neutral and raised its price target to S$4.19 from S$4.13. 1257 (0457 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 11:56 STOCKS NEWS SINGAPORE-Brokers say tax savings to benefit two REITs Brokers including DBS Vickers raised their price targets on Suntec Real Estate Investment Trust and K-REIT Asia after a restructuring that will result in tax savings for both property trusts. Both trusts said last week the company that holds assets in the Marina Bay Financial Centre (MBFC) in Singapore had been converted to a limited liability partnership. Income from the properties will not be subject to corporate tax as a result of the new structure, they said. Suntec and K-REIT each owns a one-third stake in BFC Development LLP, which holds two office towers and an underground retail mall at MBFC. On Tuesday, Suntec units were up 0.4 percent at S$1.33, while K-REIT was flat at S$1.01. So far this year, Suntec has gained nearly 24 percent while K-REIT has advanced almost 22 percent. OCBC Investment Research said Suntec's distribution per unit (DPU) for 2012-2013 fiscal years may get a boost of 0.11 to 0.17 Singapore cents, which translates to a rise of 1.2 to 1.9 percent. It raised its target on Suntec REIT to S$1.23 from S$1.20, but held its hold rating. "This is positive for unitholders as the distributable income is likely to be higher now that the income generated will no longer be subject to corporate tax," OCBC said. DBS Vickers expects K-REIT and Suntec to reap tax savings of close to S$2.2 million ($1.7 million) in 2012 fiscal year and S$4.5 million in 2013, resulting in a DPU increase of 1-2 percent in 2012 and 4-5 percent in 2013. It upgraded K-REIT Asia to buy from hold and raised its price target to S$1.21 from S$1.12. It also raised the target on Suntec REIT by 8.6 percent to S$1.58 and maintained its buy rating. For a related story, click 1109 (0309 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 10:49 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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