DBS Vickers Securities in a Feb 1 research report says: “2Q net profit jumped 142% to $54m due to progressive billings from Helios Residences and sale of 14 Belle Vue apartments in Q2, bringing take up to c.72% and 7 units at L’VIV. Associates’ income surged to $16.9 million, thanks to billings from Floridian with a further 18 units sold in the quarter (74% sold to date).
Posts Tagged ‘DBS’
Tiger Airways Holdings rated ‘hold’ by DBS
February 2nd, 2011 |
No Comments
DBS Vickers Securities in a Feb 1 research report says: “Reported net profit of $22.6 million in 3Q-FY11 included $4.7 million non-operational exchange gains and was slightly below our expectations.
DBS Bank opens new Tamil Nadu branch
January 31st, 2011 |
No Comments
DBS Bank says it has opened a new branch in Cuddalore (Tamil Nadu) and an ATM centre in Puducherry.
Through this new branch, DBS will be able to cater to the evolving banking needs of the large number of enterprises operating in and around Cuddalore, it says.
Cuddalore and Puducherry are home to several enterprises manufacturing FMCG products, leather accessories, engineering ancillaries, chemicals and pharmaceuticals.
Singapore equities still attractive – DBS Vickers
January 31st, 2011 |
No Comments
With bonds unlikely to fare well amid rising interest rates, the investment environment unfriendly for property, SGD gains taking care of themselves and commodity prices at multi-year highs, DBS Vickers says that leaves equities “as an attractive choice for investors given the market’s average valuation and ’pro-equity investment’ policies.”
STI off 1.3%; 3,090 worst case consolidation – DBS Vickers
January 31st, 2011 |
No Comments
The STI is down 1.3% at 3188.45, in line with regional markets’ weakness as worries over the unrest in Egypt cap demand for equities. Volume is light at 863 million shares worth $1.01 billion, with over four decliners per gainer on the broad market.
DBS Vickers says it expects investors “to shy off stocks this week on news of the worsening unrest in Egypt over the weekend, equity markets’ negative reaction to that unrest and this being a holiday-shortened week.”
DBS Vickers raises Olam’s target to $3.70
January 28th, 2011 |
No Comments
DBS Vickers raises Olam International’s (O32.SG) target to $3.70 from $3.60, and reiterates its Buy call on the back of higher commodity prices and expected earnings from recent acquisitions.
“We reiterate our Buy call on the stock for 19% upside to our revised target price. With earnings growth momentum intact from acquisitions, and diversified portfolio and geographic locations, we believe Olam remains undervalued. Strong 2Q11 and 3Q11 earnings should provide catalysts for share price appreciation,” DBS Vickers says.
Olam is down 0.6% at $3.09.
{jcomments on}
Parkway Life Reit rated ‘buy’ by DBS
January 25th, 2011 |
No Comments
DBS Vickers Securities in a Jan 24 research report says: “4Q10 DPU of 2.38 cents (+16% y-o-y; 6% q-o-q) was within our expectations. Gross revenue grew 21% y-o-y to $21.5 million, driven largely by additional contributions from a total of 19 nursing homes acquired and higher revenue from Singapore properties.
STI +0.5% midday; recent correction is S/T – DBS Vickers
January 24th, 2011 |
No Comments
Singapore’s STI is up 0.5% at 3199.42 midday, rebounding slightly after recent losses, but in low volume of just 695 million shares traded worth $536 million.
Market breadth is slightly positive. DBS Vickers says despite last week’s market sell-off, “we maintain our view for STI to head for 3438.” The house’s fundamental objective stays at 3500, based on 15.8X FY11F earnings.
Longcheer Holdings downgraded to ‘sell’ by DBS
January 21st, 2011 |
No Comments
DBS Vickers Securities in a Jan 20 research report says: “Our channel checks indicated that in Nov/Dec, the India handset market was plagued with a severe stock pile in the feature phone segment (Longcheer’s key products) due to: (1) weak sell through during Deepavali; and (2) smartphone’s cannibalisation of the low to mid range feature phones.
Pacific Shipping Trust rated ‘buy’ by DBS
January 21st, 2011 |
No Comments
DBS Vickers Securities in a Jan 20 research report says: “Revenue and operating profit in 4Q10 came in 2% q-o-q and 8% y-o-y lower, owing to more off-hire days arising from repairs to the 2 time-chartered vessels.
STI off 0.4%; volume tepid; 3165 support – DBS Vickers
January 21st, 2011 |
No Comments
Singapore’s STI is down 0.4% at 3192.60, with selling in banks, commodity plays and rig builders weighing on the index as caution prevails after yesterday’s sharp fall. Volume falls from yesterday, and is at 1.01 billion shares so far.
STI slumps at 1.1%; 3200 support should hold – DBS Vickers
January 20th, 2011 |
No Comments
Singapore’s STI is down 1.1% at 3206.11, tracking broad declines across the region, which are led by the Shanghai Composite Index’s 2.9% fall on unabated concerns over further tightening measures from Beijing, which would put the brakes on the world’s second largest economy.
“Singapore’s equities are reacting in response to near term weakness in Shanghai,” says Yeo Kee Kian, a market strategist with DBS Vickers.
Cosco Corp may gain if parent injects assets – DBS Vickers
January 20th, 2011 |
No Comments
Cosco Corp. (F83.SG) may gain if parent Cosco Group transfers its stake in two shipbuilding operations to the Singapore-listed company, DBS Vickers says in a report.
The possibility of the parent injecting its stakes — 19% of Cosco Shipyard Group and all of Cosco Shipbuilding Industry, which owns two shipbuilding yards in Nantong and Dalian — could add 20% to Cosco Corp.’s bottomline, DBS Vickers says in a report Wednesday.
JP Morgan raises DBS target to $24 from $18
January 19th, 2011 |
No Comments
JP Morgan raised its target price for DBS Group (DBSM.SI) to $24 from $18 and kept its overweight rating.
JP Morgan said it expects the bank’s low return on equity to reverse over the next three years and rise to 14% in 2013, from 9% in 2009.
RBS upgrades DBS to Buy; bad news priced in
January 19th, 2011 |
No Comments
RBS upgrades DBS Group (D05.SG) to Buy from sell, and raises its target to S$16.50 from S$11.50. It says “DBS’s shares have been broadly flat for about a year now. As is well established, this reflects relatively weak underlying pre-impairment profit delivery (3.7% for FY10F and minus 0.6% for FY11F) on the back of historically low Sibor.”
Danamon jumps most in 20 months on DBS speculation
January 18th, 2011 |
No Comments
PT Bank Danamon Indonesia rose the most in 20 months in Jakarta trading amid speculation DBS Group Holdings will buy a stake in the Indonesian lender, according to Teguh Hartanto, an analyst at PT Bahana Securities.
Danamon, owned by Singapore’s Temasek Holdings and Deutsche Bank AG, surged 11% to 5,950 rupiah at the 4 p.m. Jakarta time close, the steepest increase since May 19, 2009. The Jakarta Composite index gained 0.4%.
Singapore may report $6.4b fiscal surplus: DBS
January 17th, 2011 |
No Comments
DBS expects Singapore to report a fiscal surplus of $6.4 billion, or 2.1% of GDP, on the back of record economic growth in 2010. The budget projected a $3 billion deficit.
Total tax collections may rise to $46.4 billion vs $40.7 projected, enabling the government put forth an expansionary budget next month, DBS says in a note.
Swiber said to hire DBS for Singapore dollar 3.5-year bond sale
January 12th, 2011 |
No Comments
Swiber Holdings hired DBS Group Holdings to help it sell 3 1/2-year bonds denominated in Singapore dollars, according to a person familiar with the matter, who asked not to be identified as details are private.
{jcomments on}
Amtek Engineering started at Buy by DBS Vickers; $1.65 target
January 11th, 2011 |
No Comments
DBS Vickers initiates Amtek Engineering (M1P.SG) with a Buy call, and a target of $1.65, which offers 27% upside plus 5.0%-6.0% dividend yield.
It says “Amtek is a pioneering metal stamper founded in Singapore in 1970. After a private equity buyout in 2007, management quickly re-organised the business to move it further up the value chain and to improve the cross selling of higher value added products and services to existing and new customers.”
Amtek up on DBS’ “buy†initiation
January 11th, 2011 |
No Comments
Shares of Amtek Engineering (AMEL.SI), a Singapore-listed manufacturer of precision metal, plastic and rubber components, rose as much as 3.9% after DBS Vickers initiated coverage on the firm with a “buy” call and a $1.65 target price.
At 0311 GMT, Amtek shares were up 2.3% at $1.32 on a volume of 3.5 million shares.
At 0311 GMT, Amtek shares were up 2.3% at $1.32 on a volume of 3.5 million shares.