Wage costs in Singapore expected to keep rising due to tight labour market, but this could benefit demand for companies in consumer-related sectors, such as Singapore Press Holdings (T39.SG), Singapore Airlines (C6L.SG), CapitaLand (C31.SG), Frasers Centrepoint Trust (J69U.SG), Raffles Medical (R01.SG), says Credit Suisse.
Posts Tagged ‘credit’
Straits Asia Resources upgraded to Neutral by Credit Suisse
July 6th, 2010 |
No Comments
Credit Suisse has upgraded Straits Asia Resources (AJ1.SG) to Neutral from Underperform, says Dow Jones.
“We see Straits Asia Resources offering similar upside to that of its Indonesian coal peers,” says Credit Suisse but adds there’ll be more downside risks to share price, earnings estimates if regulatory approval of permits to carry out work in Northern Leases region of coal miner’s Sebuku mine gets delayed again.
Wilmar upgraded to Outperform by Credit Suisse with $6.80 target
July 5th, 2010 |
No Comments
Credit Suisse upgrades Wilmar (F34.SG) to Outperform from Underperform on view valuations attractive after price correction in May caused by probe into allegations of company being involved in tax-refund fraud in Indonesia, says Dow Jones.
“Wilmar’s premium to the palm oil sector, the Singapore market and Indofood Agri Resources (5JS.SG) has narrowed significantly since mid-May 2010. Due to its size, liquidity, diversity, integration and management calibre, we believe that it deserves a bigger premium,” says Credit Suisse.
China Becoming Target of Credit Default Swaps
July 1st, 2010 |
No Comments
As I noted on May 5th, France is in more trouble than most realize.And as I (and many others) have pointed out, China isn’t necessarily the unstoppable powerhouse that people assume.Today, Tyler Durden reported on a startling development: This week’s D…
Credit Suisse AG – Corporate moves
June 30th, 2010 |
No Comments
Alan Thomas has been appointed director/head, Private Bank Sales for FX wef June 2010
Work experience: Head of FX business, Global Wealth Management, Europe and Middle East, Bank of America Merrill Lynch
S-chips not cheap vs HK, China peers: Credit Suisse
June 22nd, 2010 |
No Comments
S-chips no longer cheap as their discounts to peers listed in Hong Kong, China have narrowed substantially following strong rebound in past 12-18 months, says Credit Suisse, according to Dow Jones.
“As such, we would be more selective and continue to prefer Singapore companies with direct China exposure,” says Creidt Suisse.
Singapore Airlines’ target raised to $18.20 by Credit Suisse
June 18th, 2010 |
No Comments
Credit Suisse has raised Singapore Airlines’ (C6L.SG) target price to $18.20 from $17.50 after increasing FY11-12 earnings estimates by 3%-4% to reflect higher cargo yields, says Dow Jones.
“(The) air freight market has been robust and Taiwanese airlines have reported good quarter-on-quarter yield growth so far in 2Q10. We believe SIA should benefit from the same trend, given the high historical correlation,” says Credit Suisse.
But notes there’s room for yield to moderate if demand from Europe slows. Keeps Outperform call.
Shares off 0.8% at $14.48.
{jcomments on}
United Envirotech secures $600m credit facilities from China Merchants Bank
June 17th, 2010 |
No Comments
Mainboard-listed United Envirotech, one of the leading membrane-based water and wastewater treatment solutions provider, says has secured credit facilities of up to RMB 3 billion ($600 million) for three years from China Merchants Bank (CMB) to project finance the water related investments.
SATS started at Outperform by Credit Suisse with $3.30 target
June 17th, 2010 |
No Comments
Credit Suisse starts Singapore Airport Terminal Services (S58.SG) at Outperform with $3.30 DCF-based target, says Dow Jones.
Credit Suisse says stock is a compelling play amid global economic recovery, given company’s dominant position in ground-handling, inflight catering services at Singapore’s Changi Airport.
Parkway down 0.3%; Fortis needs at least $3.2b, says Credit Suisse
June 15th, 2010 |
No Comments
Parkway Holdings (P27.SG) pares gains, down 0.3% at $3.76 vs S$3.78 earlier, but holding near Khazanah Nasional’s partial takeover offer price of $3.78/share, says Dow Jones.
Price expected to hold around these levels until Fortis Healthcare (532843.BY) makes clear its intention for Parkway, in which it has over 25% stake, including shares from open market buying. Khazanah’s offer for 51.5% stake lapses July 8.
Credit Suisse to switch NY-based banker to Singapore
June 11th, 2010 |
No Comments
Credit Suisse (CSGN.VX) is moving a senior banker, who led its global structuring group in fixed income in New York, to a new role in asset management in Singapore.
Sudip Thakor, who will be initially based in New York as head of global emerging markets products in the asset management division, will move to Singapore in his new role next year, according to an internal note seen by Reuters.
Parkway Holdings cut to Neutral by Credit Suisse
June 2nd, 2010 |
No Comments
Credit Suisse has downgraded Parkway Holdings (P27.SG) to Neutral from Outperform as stock trading near its $3.75 target price following recent surge on Khazanah Nasional’s $3.78/share partial takeover offer, according to Dow Jones.
Biosensors off 0.6%; risk of China delay, says Credit Suisse
May 31st, 2010 |
No Comments
Biosensors (B20.SG) is down 1.3% at $0.785, extending Thursday’s 1.2% fall, as investors continue to unload shares following release of heart-stent maker’s fiscal FY10 results late last week, according to Dow Jones.
Credit Industriel wins accumulator suit against Singapore client
May 25th, 2010 |
No Comments
Credit Industriel et Commercial, France’s fifth-largest bank by market value, won a $6.4 million lawsuit against a former Singapore private bank client who failed to pay for products known as accumulators.
Judicial Commissioner Philip Pillai also said in his 46- page ruling that a private bank isn’t acting as a trusted adviser of its client when, as in this case, its contract specifically states that the client is responsible for the risks in his own transactions.
Singapore developers up; no property bubble yet: Credit Suisse
May 24th, 2010 |
No Comments
Shares of Singapore developers holding up despite government’s move to substantially increase residential land supply in 2H10, according to Dow Jones.
Performance suggests investors already anticipating measures following 25% on-month jump in April new home sales to 2,207 units, highest since July 2009. FTSE ST Real Estate Holding & Development Index +2.1%.
Wilmar drops on Indonesian tax concern; Credit Suisse downgrade
May 19th, 2010 |
No Comments
Shares of Wilmar International dropped after Credit Suisse Group AG downgraded the stock to “underperform” from “neutral,” citing a newspaper report the company is being investigated in Indonesia.
Frasers Centrepoint’s target raised to $1.58 by Credit Suisse
May 13th, 2010 |
No Comments
Credit Suisse has raised Frasers Centrepoint Trust (J69U.SG) target price to $1.58 from $1.18 after increasing FY10–11 DPU estimates by 6–14% to reflect contributions from new buys completed in February, positive rental reversions, higher occupancy levels, brighter economic outlook, according to Dow Jones.
Wilmar off 0.8%; China operations at risk, says Credit Suisse
May 13th, 2010 |
No Comments
Wilmar (F34.SG) off 0.8% at $6.47 on follow-through selling amid concerns earnings growth will slow further in coming quarters following recent 1Q10 results, according to Dow Jones.