Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Offshore marine, property firms may see delistings-CIMB

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STOCKS NEWS SINGAPORE-Offshore marine, property firms may see delistings-CIMB Aug 30th 2012, 02:29 Wed Aug 29, 2012 10:29pm EDT A string of privatisations in Singapore is likely to continue, helped by cash-rich buyers, highly-valued Asian consumer franchises and battered valuations for cyclical companies, CIMB Research has said. Singapore's market has recently seen a few privatisation offers, including Heineken's for Tiger Beer maker Asia Pacific Breweries and Thai energy firm PTT's offer to buy out Sakari Resources Ltd for $960 million. CIMB said stocks that may receive privatisation offers include offshore marine firms CH Offshore and KS Energy, as well as property developers such as Bukit Sembawang and Ho Bee. To narrow down a list of companies that could be privatised, CIMB looked at stocks trading below 1 standard deviation from their historical trading ranges and shareholders with interest and means to de-list the companies. "We believe that globally, corporates have been building up cash to prepare for the worst, ever since the global financial crisis. They have the means to make an offer," CIMB said in a report. 1016 (0216 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 9:37 STOCKS NEWS SINGAPORE-Dairy Farm to gain from Carrefour's Singapore closures-CIMB The closing of France's Carrefour supermarkets in Singapore will benefit Dairy Farm International Holdings Ltd , as it gets a chance to extend its market share in the city state, CIMB Research said. World No. 2 retailer Carrefour said it will shut its two stores in Singapore by the end of this year, as it pulls out of more non-strategic countries to free up cash to cut debt and fund the revival of its struggling European hypermarkets. "Carrefour's withdrawal will allow Dairy Farm to swoop in on its retail staff, a boon in the current tight labour market," CIMB said in a note. Dairy Farm, through its 'Giant' supermarket chain, controls more than 50 percent of the hypermarket sector, CIMB said, adding that the company will be exploring options to take over Carrefour's outlet at shopping mall Plaza Singapura. It has an 'outperform' rating on Dairy Farm and a target price of $12. Shares of Dairy Farm were up 0.1 percent at $10.90, and have gained 16.8 percent so far this year. The brokerage estimates that Carrefour's sales in Singapore was about 100 million euros, making up about 10 percent of Dairy Farm's revenue in the country. 0916 (0116 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) Link this Share this Digg this Email Reprints

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