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Posts Tagged ‘AmFraser’

Charts tip Yangzijiang upside break soon – AmFraser

January 19th, 2011 | No Comments

Amfraser says Yangzijiang Shipbuilding’s (BS6.SG) lengthy 3-month test of key $2.00-$2.08 resistance raises the odds of a breakout to $2.23-$2.33 in the coming weeks.

Technical analyst Najeeb Jarhom says the stock always repeats the trend of moving higher past key recovery marks. He notes, since bottoming out at 27 cents a year after its crash from $2.87 peak in October 2007, YZJ has recovered 70% of its losses, taking around an average 3-4 months to scale one resistance area to another.

STI down 0.6% as at 3:17 p.m.; May pull back to 3,220-3,230: AmFraser

January 10th, 2011 | No Comments

The STI is down 0.6% at 3,241.92 at 3:17 p.m., pulling back sharply in the afternoon, tracking falls in Shanghai and Hong Kong bourses which extend losses after China’s weaker-than-expected December exports, sparking fears over a slowdown in Asia’s economic engine.

Global Palm Resources Holdings rated ‘buy’ by AmFraser

January 6th, 2011 | No Comments

AmFraser in a Jan 5 research report says: “Global Palm Resources Holdings Ltd (GPR) is one of the smallest SGX-listed palm oil producers with market capitalization of $155 million as of Nov 10. We believe GPR may be trying to gain a foothold into East Kalimantan for oil palm cultivation.

AmFraser starts Global Palm Resources at Buy

January 5th, 2011 | No Comments

AmFraser starts Global Palm Resources (K6J.SG) at Buy with $0.51 fair value, based on 12X FY11F P/E of 4.2 cents.

“We believe GPR may be trying to gain a foothold into East Kalimantan for oil palm cultivation. If the venture inroad proves successful, it will further beef up GPR’s production capacity and more importantly provide an alternative source of plantation landbank for oil palm cultivation.”

SunVic started at Buy by AmFraser; $1.02 fair value

January 4th, 2011 | No Comments

AmFraser starts SunVic Chemical (A7S.SG) at Buy with a $1.02 fair value. It says there is diversified and growing demand for AA and AE for a wide range of common consumer goods.

“The wide demand base reduces the impact if a certain end-product enters a downtrend.” The house notes favourable cost of raw materials as the price of propylene has largely remained stable.

Kreuz +2.2%; charts poised for big move up – AmFraser

January 4th, 2011 | No Comments

Kreuz Holdings (5RK.SG) +2.2% at $0.465 extending its winning streak to six sessions, with volume picking up in the last 2 days to over 6 million shares.

No news on the oil & gas industry subsea service provider, owned by Swiber (AK3.SG), since November 18′s US$6.2 million ($7.97 million) contract win, but technical signs are picking up, says AmFraser’s Najeeb Jarhom.

Genting Singapore +0.5%; Technicals upbeat: AmFraser

December 2nd, 2010 | No Comments

Genting Singapore (G13.SG) +0.5% at $2.04 on modest volume, tracking broad market uptick.

While +4.6% to date from 2-month low of $1.95 set last week, stock still struggling to gain momentum as near-term catalysts lacking after strong rally since gaming group returned to profitability in 2Q10.

STI +0.8%; may hit 3250-3300 by year end – AmFraser

November 25th, 2010 | No Comments

Singapore shares mostly up but market quiet with merely 613.7 million shares worth $652.9 million changing hands by midday. Low participation typical during year-end period, not helped by lack of newsflow.

Gainers outnumber decliners by about 2.5 to 1. STI +0.8% at 3162.19, not expected to test Tuesday’s 3187 intraday high for rest of session.

China Animal Healthcare cut to Hold by AmFraser

November 15th, 2010 | No Comments

AmFraser downgrades China Animal Healthcare (EP4.SG) to Hold (previous rating not available), fair value to $0.34 vs $0.39, according to Dow Jones.

AmFraser says, delay in obtaining HFMD vaccine license caused “significant difference” to house model, means they missed February, August biddings for 2010, “something we didn’t count on.”

STI +0.1%; more room for upside: AmFraser

November 9th, 2010 | No Comments

Singapore shares choppy as bouts of light selling absorbed by buyers hopeful prices could head even higher with market flush with liquidity.

STI +0.1% at 3302.29 vs 3313.34 intraday high, 3289.04 low, likely to end below 3320.

Kreuz +2.2%; May test $0.515 Soon: AmFraser

September 23rd, 2010 | No Comments

Kreuz Holdings (5RK.SG) +2.2% at $0.475, extending 31.0% rally since beginning of September, says Dow Jones.

Stock one of best performers for new Singapore listings this year, +72.2% to date since listing in July with $0.27 IPO price.

Interest partly underpinned by expectations parent Swiber (AK3.SG) could unveil new contracts, which in turn could benefit Kreuz as sub-sea services provider counts Swiber as key customer.

STI +0.8%, May test 3,043 high near-term: AmFraser

September 1st, 2010 | No Comments

Gains across Asian markets keeping shares in Singapore above water, lifting even recently-bruised property stocks, says Dow Jones.

Gainers outnumber decliners 2.6 to 1 in broad market. STI +0.8% at 2,973.06 midday, just off morning peak of 2,981, highest intraday level in 3 weeks.

Wheelock Properties (S) rated ‘hold’ by AmFraser

August 19th, 2010 | No Comments

AmFraser Research in an Aug 16 research report says: “Wheelock Properties Ltd (Wheelock) reported $134 million net profit for 1HFY10, up 246% y-o-y. It met 58% of our FY2010F forecast and 55% of consensus estimates.

STI off 0.9%; But correction unlikely: AmFraser

August 11th, 2010 | No Comments

Singapore stocks generally still weak, with STI dragged down by caution ahead of tomorrow’s June-quarter results announcements by handful of component companies: SingTel (Z74.SG), CityDev (C09.SG), Noble Group (N21.SG), Genting Singapore (G13.SG), Sembcorp Industries (U96.SG), says Dow Jones.

Index off 0.9% at 2,957.44 midday; support expected at 2926 (July 21 low). Decliners outnumber gainers by over 2 to 1 in broad market. Overall volume modest at 898.1 million shares worth $734.4 million.

Starhub rated ‘sell’ by AmFraser

August 10th, 2010 | No Comments

AmFraser Research in an Aug 6 research report says: “StarHub Ltd’s 2Q10 results were in line with expectations, we maintain a full year net profit fall of 16% y-o-y, with fair value at $1.88. Expenses mainly outpaced revenue.

STI flat; Abrupt end to rally unlikely: AmFraser

August 3rd, 2010 | No Comments

Singapore shares pare gains as investors content to take some profits after STI set new year-to-date high of 3,043 in early trade, notes Dow Jones.

Index flat at 3,023.64 midday, expected to hold above resistance-turned-support of 3,000 for rest of session. Market breadth flat vs four gainers for every decliner earlier.

China Sunsine Chemical Holdings rated ‘buy’ by AmFraser

August 3rd, 2010 | No Comments

AmFraser Research in an Aug 2 research report says: “China Sunsine announced 40% y-o-y growth in Q2 revenue to RMB248.3 million. This was because of a record total sales volume, with increases across all categories of products. Increases in raw material costs also partly caused ASP to rise to RMB18.0K per ton from RMB16.0K per ton in the comparative quarter.

Keppel Land rated hold by AmFraser

July 22nd, 2010 | No Comments

AmFraser Research in a July 21 research report says: “Keppel Land Ltd’s (Keppel Land) net profit came in at $135 million for 1HFY10. Results were up 42% y-o-y. Contribution from associates continued to sparkle, climbing 34% y-o-y to $96 million for 1HFY10.

M1 rated hold by AmFraser

July 20th, 2010 | No Comments

AmFraser in a July 16 research report say: “Total mobile subscribers grew a healthy 11% yoy to 1.85 million.Â However, mobile service revenues grew a modest 2% yoy to $288.1 million in 1HFY10 as ARPUs declined in 2Q.

STI +0.2%; Caution as 3,000 level nears: AmFraser

July 16th, 2010 | No Comments

Attention in Singapore stock market mostly on lower liners, with new listing Leader Environmental Technologies (LS9.SG) most sought after, accounting for almost a-quarter of overall market volume of 667.1 million shares; at $0.235 vs $0.21 IPO price. Market breadth neutral, according to Dow Jones.