Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Thai Bev rises 4 pct after Heineken trumps bid

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STOCKS NEWS SINGAPORE-Thai Bev rises 4 pct after Heineken trumps bid Jul 20th 2012, 05:09 Fri Jul 20, 2012 1:09am EDT Shares of Singapore-listed Thai Beverage Pcl rose to the highest in 1-1/2 months after Heineken NV trumped a bid for Asia Pacific Breweries. Thai Beverage's shares jumped 4.4 percent to S$0.355, the highest since June 6 and were the most actively traded shares in Singapore. More than 36 million shares were traded, over four times the average full-day volume traded over the past 30 days. The shares topped trading volumes. "Heineken countered higher, so if Thai Bev loses the bid it's good for the stock because they are paying too much already," said a trader. Heineken launched a S$50 per share offer for F&N's direct and indirect stakes in APB, topping the S$45-a-share offer proposed by companies linked to Thai tycoon Charoen Sirivadhanabhakdi for part of those holdings. Moody's Investors Service had put Thai Beverage's Baa2 issuer rating under review for downgrade as the proposed deal is expected to be funded by debt. 1259 (0459 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 11:34 STOCKS NEWS SINGAPORE-Maybank, DMG up Keppel Corp target Maybank Kim Eng raised its target price on Singapore's Keppel Corp Ltd to S$12.90 from S$12.50 and maintained its buy rating after the world's largest rig builder reported better-than-expected earnings for its second quarter. Maybank raised its 2012 fiscal year net profit estimate by 5 percent to reflect higher property and investment income. Keppel shares were down 0.6 percent at S$11.17. The stock ended 1.6 percent higher on Thursday ahead of the results. Keppel reported a 35 percent rise in net profit and the results came ahead of market expectations. While Keppel's operating margin for offshore and marine stood at 13.2 percent in the quarter, Maybank remained optimistic that full-year margins would come within its expectation of 14-16 percent. "A tight rig market with rising utilisation rates and an aging rig profile would continue to support the rig-building business," Maybank said. DMG & Partners Securities raised its target price on Keppel Corp to S$13.80 from S$13.60, after increasing its earnings per share estimate by 15 percent for 2012 fiscal year and by 1 percent for 2013. It maintained its buy rating. Story on Keppel's results 1114 (0314 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) Link this Share this Digg this Email Reprints

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