Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-DMG ups target price for Kingsmen

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STOCKS NEWS SINGAPORE-DMG ups target price for Kingsmen Aug 16th 2012, 03:44 Wed Aug 15, 2012 11:44pm EDT DMG & Partners raised its target price for Kingsmen Creatives to S$0.83 from S$0.76 and kept its 'buy' rating, citing a healthy pipeline of contracts and strong net cash position. By 0326 GMT, Kingsmen shares were up 1.4 percent at S$0.73, and have gained 27 percent so far this year, compared to the FT ST Fledgling Index's 15.3 percent rise. Kingsmen posted a 15 percent rise in its second quarter net profit to S$5.2 million, due to an increase in theme park and MICE (meetings, incentives, conventions, exhibitions) contracts. [ID:nSNZR65SZ} "We remain positive on Kingsmen, given its pipeline of contracts, supported by relatively strong consumerism in Asia, Singapore as one of the top MICE destinations in Asia and healthy growth of Asia's amusement industry," said DMG. 1132 (0332 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 11:04 STOCKS NEWS SINGAPORE-Cordlife up on deal with China Cord Blood Shares of Cordlife Group jumped as much as 8.2 percent after the cord blood banking provider said it plans to buy 10 percent of China Cord Blood Corporation, China's largest cord blood bank operator. By 0255 GMT, shares of Cordlife were up 7.2 percent at S$0.52 with 7.7 million shares traded, more than 3.6 times its full-day average trading volume over the last five sessions. Cordlife has agreed to buy 10 percent in China Cord, in return it will sell an indirect stake in China Stem Sells (South) Co Ltd back to the company, which is an indirect subsidiary of China Cord. The acquisition will help Cordlife expand its reach in China and boost its earnings per share to 5.85 Singapore cents from 3.64 cents before, it said. "The deal should help it get a better hold of the China market, and Cordlife will also see an increase in its asset value after the acquisition," said a local trader. 1056 (0256 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 10:20 STOCKS NEWS SINGAPORE-OCBC upgrades Midas to buy from hold OCBC Investment Research upgraded Midas Holdings, which makes aluminium parts for trains, to 'buy' from 'hold' and raised its target price to S$0.41 from S$0.30, citing an expected pick-up in its orders. By 0132 GMT, Midas shares were up 2.9 percent at S$0.35, and have gained 6 percent so far this year, compared to the FT ST China Index's 1.2 percent gain. Midas reported a 97.5 percent drop in its second quarter earnings to 1.6 million yuan from a year ago, which was below OCBC's expectations due to higher costs. However, OCBC has turned more positive on Midas' outlook as China's Ministry of Railways recently raised its railway infrastructure investment target for 2012 by 16 percent, adding to growing optimism on the country's high-speed rail transport industry. "We position our 'buy' rating on the premise of an expected recovery in its orders win momentum and the likelihood of a resumption of high-speed railway passenger train car contracts by the Ministry of Railways in the near future," said OCBC. 0937 (0137 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) Link this Share this Digg this Email Reprints

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