Dow Jones Newswires | ICT magazine - Part 4

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Posts Tagged ‘dow jones newswires’

Parkway Holdings gains 1.28%; better to cash out, says DBS

March 12th, 2010 | No Comments

Parkway Holdings (P27.SG) is up 1.28% at $3.16 after racing to almost two-year high of $3.30 in early trade as Fortis’ entry as new major investor fuels hopes of stronger growth prospects for Singapore healthcare group, reported Dow Jones Newswires.

“This deal should enlarge the platform for both entities, and enable Parkway and Fortis to leverage on each other’s strengths,” says Citigroup, which has a “buy” call with $3.40 target; “synergies include co-sharing and integration of best medical expertise such as stem cell therapy and organ transplant.”

STI flat, but more upside likely near-term, says AmFraser

March 11th, 2010 | No Comments

Singapore shares turned choppy on the prospect of more tightening measures by China although this was mitigated by light buying on dips, reported Dow Jones Newswires.

But upside is not expected to be huge given weaker US stock futures and mixed performance across Asian markets.

Valuetronics gains 3.4% on brighter outlook, says OCBC

March 11th, 2010 | No Comments

Valuetronics (BN2.SG) heads higher as hopes of improving trading conditions for the integrated electronics manufacturing services firm underpin sentiment; shares +3.4% at 15 cents, reported Dow Jones Newswires.

Company’s fiscal 3Q10 results last month showed it benefiting from customer re-stocking activities on back of more stable economic backdrop with 3Q10 net profit +7.8% on-year to HK$13.5 million ($2.4 million).

CapitaMalls Asia initiated a â€˜buyâ€™ by DBS Vickers

March 11th, 2010 | No Comments

DBS Vickers has started coverage of CapitaMalls Asia (JS8.SG) at “buy” with $2.51 target price, based on 1.1x NAV estimate, reported Dow Jones Newswires.

Says mall operator’s appeal lies in its pan-Asian exposure to stable, resilient retail asset class, “with a scalable model that spans the entire value chain”.

Time to reduce palm oil exposure, says Bank of America-Merrill Lynch

March 11th, 2010 | No Comments

Recent strength in shares of plantation companies offers good chance for investors to reduce exposure to palm oil sector as unpredictable weather patterns have complicated farming practices, predictability of CPO prices, says Bank of America-Merrill Lynch, according to Dow Jones Newswires.

“Weather outlook uncertainty increases the investment risk substantially.” Notes current bullish views over palm oil sector based partly on poor output due to El Nino, re-emergence of hot money.

Genting Singapore casino numbers dropping off, says UOB

March 11th, 2010 | No Comments

Genting Singapore (G13.SG) appears to be seeing a slowdown in visitors to its new casino at Resorts World at Sentosa (RWS) post-Lunar New Year, says UOB KayHian, according to Dow Jones Newswires.

“We understand from industry observers that the daily casino attendance could have eased to about 20,000 from the 30,000 during Chinese New Year; such a number is respectable, but is well below Genting Highland casino’s estimated 50,000 daily visitors.”

Raffles Medical initiated a â€˜buyâ€™ at CLSA with $1.70 target

March 10th, 2010 | No Comments

CLSA has initiated Raffles Medical Group (R01.SG) a “buy” with a $1.70 target price, according to Dow Jones Newswires.

CLSA says patient numbers set to grow on back of revival of medical tourism demand, shortage of beds in public hospitals.

Singapore canâ€™t touch Macauâ€™s VIP revenue, says UBS

March 10th, 2010 | No Comments

Singapore won’t hurt Macau’s gaming market, says UBS’s Grant Chum during recent investor call, reported Dow Jones Newswires.

For mass market, Macau is about Hong Kong, Guangdong while Singapore’s about Southern Malaysia, Singapore, and, over time, parts of Indonesia, rest of Malaysia, he says.

Singapore canâ€™t touch Macauâ€™s VIP revenue, says UBS

March 10th, 2010 | No Comments

Singapore won’t hurt Macau’s gaming market, says UBS’s Grant Chum during recent investor call, reported Dow Jones Newswires.

For mass market, Macau is about Hong Kong, Guangdong while Singapore’s about Southern Malaysia, Singapore, and, over time, parts of Indonesia, rest of Malaysia, he says.

Lian Beng gains 3.57%; construction demand to last, says DMG

March 10th, 2010 | No Comments

Lian Beng Group (L03.SG) is up 3.6% at 29 cents as $144 million boost to orderbook whets investors’ appetite, reported Dow Jones Newswires.

Construction group to build 616-unit condo in Singapore starting next month, expects completion in March 2013.

China Animal Healthcare off 4.2% despite strong 4Q results

February 9th, 2010 | No Comments

China Animal Healthcare (EP4.SG) is off 4.2% at a month-low of 23 cents despite robust December-quarter results. “People are selling on news. The results are quite actually decent,” a dealer with a local brokerage told Dow Jones Newswires.

Despite the absence of buying interest, the animal drug maker’s prospects look firm as company has been actively acquiring companies to boost its portfolio amid increasing demand from farmers in China to vaccinate animals.

SingTel gains on rumours it may float Optus as early as 1H

January 14th, 2010 | No Comments

Singapore Telecom (Z74.SG) extended its gains after sources tell Dow Jones Newswires that the telco firm plans to float part of its Australian unit Optus possibly as early as 1H10.

People familiar with the situation say SingTel wants to sell around 25% of Optus through an IPO in Australia that could raise about A$4 billion ($5.16 billion).

SingTel could use the proceeds to create a war-chest for acquisitions and expansion in markets outside Australia and Singapore.

Japan approves $274 billion stimulus package

December 8th, 2009 | No Comments

Japan’s cabinet on Tuesday approved an economic stimulus package worth $274 billion including more than $80 billion in direct spending, Dow Jones Newswires reported. The package is meant to boost a fragile recovery from Japan’s worst post-war recession, which is now threatened by deflation

SIA Engineering hits 4-session high of $3; higher margins likely, says UOB KayHian

December 3rd, 2009 | No Comments

SIA Engineering (S59.SG) rose 0.3% to hit a four-session high of $3, but gains have been accompanied by thin volume.

UOB KayHian says buying fatigue seems to be setting in after its recent outperformance, reports Dow Jones Newswires.

Shares of SIA Engineering have risen 16.3% since beginning 4Q09 vs the STI’s 4.6% gain over same period, with volume gradually coming off after hitting year-to-date high of $3.08 last week.

Temasek yet to decide if it will buy new StanChart shares: Dow Jones source

August 4th, 2009 | No Comments

Singapore state investment company Temasek Holdings has yet to decide whether it will participate in the GBP1 billion share sale by Standard Chartered PLC (STAN.LN), two people familiar with the situation said today.

“It’s being considered but there is no decision yet whether Temasek will buy any new shares. It will come later in the week,” one person told Dow Jones Newswires.