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Straits Asia Resources rated buy at DBS

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DBS Vickers Securities in a Feb 25 research report says: “SAR reported 4Q09 net profit of US$38.1m, in line with our expectations, and stable on a q-o-q basis. 4Q09 revenue came in slightly better than expected, at US$233m, and overall FY09 revenue of US$748m was 28% higher y-o-y, on the back of higher volumes and ASPs.

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