Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Tech sector's outlook seen muted-OCBC

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STOCKS NEWS SINGAPORE-Tech sector's outlook seen muted-OCBC Sep 4th 2012, 04:15 Tue Sep 4, 2012 12:15am EDT OCBC Investment Research said Singapore technology companies have generally reported lacklustre results for the second quarter of 2012 and their outlook is uncertain with headwinds such as weak order visibility and rising cost pressures. Previous expectation of a robust sequential recovery in the seasonally stronger second half have dwindled in the past few months due to uncertainties over the euro zone crisis, as well as sluggish economic growth in the United States and China, OCBC said. But OCBC said a bright spot during the quarter came from "decent" dividends declared by some technology companies, supported by their balance sheet strength and management's commitment to reward shareholders with regular dividend payouts. The expected launch of new programs and products such as ultrabooks, Microsoft's Windows 8 operating system and Apple's iPhone 5 could help to buffer some of the near-term weakness, OCBC added. OCBC's top pick in the sector is Venture Corp Ltd. It also covers ECS Holdings Ltd, Karin Technology Holdings Ltd and Micro-Mechanics Holdings Ltd . 1205 (0405 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 11:28 STOCKS NEWS SINGAPORE-Ezra rises, unit's listing in October eyed Shares of Singapore's Ezra Holdings Ltd gained as much as 2.3 percent as traders hoped they could benefit from the upcoming listing of the company's engineering and fabrication unit on the Singapore Exchange. Ezra shares rose as high as S$1.10 and were among the top traded stocks by value in the Singapore market on Tuesday. The stock has risen about 30 percent so far this year versus the 22 percent gain in the FT ST Mid Cap Index. Ezra proposed to distribute up to 107.2 million shares in TRIYARDS Holdings Pte Ltd, on the basis of one TRIYARDS share for every 10 Ezra shares. Ezra will retain a majority control of 67 percent in TRIYARDS. Lionel Lee, Ezra's managing director, said at a media briefing on Monday that TRIYARDS is expected to list in October and the company is eyeing areas such as ship repair, aluminium fabrication and marine equipment. "In the next 24 months, there will be a lot of growth opportunities for the acquisitions of new business lines or acquisitions of additional yards. The market just presents itself to us," Lee said. TRIYARDS, which has two yard facilities in Vietnam and one in the United States, is also looking to enter the Brazil and Australia markets, Lee said. 1121 (0321 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 10:02 STOCKS NEWS SINGAPORE-GSH surges on Chinese property investment plan Shares of GSH Corp Ltd surged after the consumer goods distributor said it plans to acquire a 60 percent stake in a property development company in China for 314.9 million yuan ($49.7 million). Separately, the company said it had received approval from the Singapore Exchange to be removed from the bourse's watch-list with effect from Sept. 4, after meeting certain profit and market capitalisation requirements. GSH shares rose as much as 17 percent to S$0.109 on Tuesday, the highest since April 26. More than 120 million shares changed hands, 1.8 times the average full-day volume over the past 30 days. The stock has been in the spotlight after Singapore tycoon Goi Seng Hui, also known as Sam Goi, became the company's new majority shareholder in April. GSH was formerly known as JEL Corp (Holdings) Ltd. GSH said on Monday its unit had signed a non-binding memorandum of understanding with Chongqing Boneng Property Development Co Ltd for the proposed acquisition. GSH said it was exploring opportunities in property development and construction. GSH shares were up 11.8 percent at S$0.104 by 0956 (0156 GMT). 0956 (0156 GMT) ($1 = 6.3407 Chinese yuan) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) Link this Share this Digg this Email Reprints

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