The STI is up 0.3% at 3188.55 midday in very low volume of 473 million shares worth $632 million as the upcoming Lunar New Year holidays deter players from making fresh bets, especially with the potential for further spikes in risk aversion from geopolitical events in the Middle East.
Posts Tagged ‘Eng’
Kim Eng reiterates CapitaMall Trust at Buy
January 21st, 2011 |
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Kim Eng reiterates CapitaMall Trust (C38U.SG) at a Buy with a DDMâ€derived target of US$2.32 ($3.00) after the REIT Thursday declared a FY10 DPU of 9.24 Singapore cents on the back of 5.9% on-year growth in net property income.
“With forward yields of at least 5.2% and rising, CMT could be an alternative inflation hedge,” the house says. It adds, like CapitaCommercial Trust (C61U.SG), CMT has a high cash position of US$712 million ($916.8 million).
Singapore Airlines rated ‘buy’ by Kim Eng
January 20th, 2011 |
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Kim Eng Research in a Jan 18 research report says: “SIA’s December passenger load factors dipped 3.6 percentage points y-o-y but still remained healthy at 80.7. Cargo continued to outperform expectations, with load factor holding steady at 63.5.
Hutchison spinoff would breath life into trusts – Kim Eng
January 19th, 2011 |
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Kim Eng says “in Hutch we trust” after Hutchison Whampoa (0013.HK) announced plans to spin off its HK and China port assets on SGX.
“The trust structure is reportedly planning to raise a massive US$6 billion ($7.7 billion), making it the biggest IPO in Singapore ever…the issue will breathe new life into SGX-listed business trusts in general, particularly infrastructure trusts.” Says K-Green Trust (LH4U.SG) and Macquarie International Infrastructure Fund (M41.SG) relative laggards, trading at or below book values, despite attractive yields of between 5.1%-7.4%.
Singapore Land rated ‘hold’ by Kim Eng
January 13th, 2011 |
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Kim Eng Research in a Jan 12 research report says: “Last month, UOL increased its holding in UIC from 32% to 42% by acquiring UOB’s stake at $2.40/share.
Noble +4.0%; Recent developments positive – Kim Eng
January 11th, 2011 |
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Noble Group (N21.SG) +4.0% at $2.34, in heavy volume of 49 million shares, rising steeply after the lunch break when 65%â€owned Gloucester Coal said its Gloucester basin open cut mining operations, 100 km north of Newcastle, have not been materially impacted by adverse weather on Australia’s east coast.
Today’s rise continues the stellar 15.7% gain from December 20’s close of $2.04, just before Noble announced its US$950 million ($1.23 billion) acquisition of two sugar cane mills in Brazil.
STI +0.3% midday; strong support at 3200 – Kim Eng
January 11th, 2011 |
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The STI is +0.3% at 3237.76 midday, after earlier trading flat-to-slightly lower; “We’re up tracking Hong Kong’s Hang Seng index, which has gone up quite nicely by about 250 points,” says a trading representative at a local brokerage. “I think from here, we’re likely to trade in a range, I don’t think the market is expecting a big fall,” he adds.
Kim Eng rises to record after Maybank makes buyout bid: Update
January 7th, 2011 |
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Kim Eng Holdings, a Singaporean brokerage, surged to a record after Malayan Banking, Malaysia’s biggest lender, offered to buy the company for $1.79 billion to speed up expansion in Southeast Asia.
Shares of Kim Eng jumped 13% to $3.05 at the 5 p.m. close in Singapore trading, an all-time high, making it the best performer on Singapore’s stock exchange. Maybank, as the Kuala Lumpur-based company is known, slipped 0.1% to 9 ringgit, snapping a three-day gain.
Shares down at midday on profit-taking; Kim Eng surges
January 7th, 2011 |
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Singapore shares were down at midday on Friday, pulling back after a rally in the first few trading sessions of the year, but stockbroker Kim Eng (KEHS.SI) outperformed the broader market after Malaysian lender Maybank made a bid for the firm.
Maybank (MBBM.KL), Malaysia’s largest lender by assets, is snapping up Kim Eng for $1.4 billion in a move to strengthen its grip on the regional stock broking industry and diversify the lender’s source of overseas revenue.
Kim Eng rises to record after Maybank makes $1.79b bid
January 7th, 2011 |
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Kim Eng Holdings, a Singaporean brokerage, surged to a record and Malayan Banking gained after Malaysia’s biggest lender offered to buy the company for $1.79 billion to speed up expansion in Southeast Asia.
Shares of Kim Eng jumped 12% to $3.03 at 10:48 a.m. in Singapore trading, set to close at an all-time high. Maybank, as the Kuala Lumpur-based company is known, added 0.7% to 9.07 ringgit, headed for its highest close since Nov. 16.
Kim Eng +12.6%; offer tipped to be unconditional
January 7th, 2011 |
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Kim Eng (K50.SG) is last +12.6% at $3.03 on resuming trade after Maybank’s (1155.KU) US$1.4 billion ($1.82 billion) offer to buy the brokerage, still below the $3.10 per share offer price which values the brokerage firm at 1.9X book.
Kim Eng rises 13% on Maybank’s takeover bid
January 7th, 2011 |
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Shares of Singapore’s Kim Eng Holdings (KEHS.SI) opened 13% higher on Friday after Malaysia’s largest lender Maybank (MBBM.KL) offered to buy the stockbroker for US$1.4 billion ($1.8 billion).
Around 9:02 a.m., Kim Eng shares were traded at $3.05, below Maybank’s offer price of $3.10 a share but well above its last traded price of $2.70.
Maybank said on Thursday that it has already agreed to buy a 44.6% stake in Kim Eng from two major shareholders.
Jan 7: Singapore Stocks-May open lower on US stocks; Kim Eng in focus
January 7th, 2011 |
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Singapore shares may open lower on Friday, following Tokyo, after US stocks weakened overnight as soft retail sales and a sharp rise in the dollar left investors edgy before December’s US employment report.
Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.78% on Thursday to 3,279.70 points.
Here are some stocks and factors to watch:
Jan 7: China Taisan, Kim Eng, Stratech Systems
January 7th, 2011 |
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The following companies may have unusual price changes in Singapore trading today. Stock symbols are in parentheses, and share prices are from the previous close. Singapore’s Straits Times Index gained 0.8% to 3,279.70.
China Taisan Technology Group (CTSAN SP): The maker of knitted fabric used in sports apparel said it will buy $28 million of new machinery to boost production capacity, twice the amount it estimated earlier. The stock fell 2.6% to 19 cents.
Maybank makes $1.8b bid for Kim Eng: Update 3
January 6th, 2011 |
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Malayan Banking Bhd., Malaysia’s biggest lender by assets, offered to buy Singaporean brokerage Kim Eng Holdings Ltd. in a deal valued at $1.79 billion, accelerating its expansion in Southeast Asia.
Maybank, as the Kuala Lumpur-based company is known, agreed to buy a 44.6% stake in Kim Eng from Taiwan’s Yuanta Securities Asia Financial Services and Kim Eng Chairman Ronald Anthony Ooi Thean Yat at $3.10 a share, the companies said in separate statements today. That’s a 36% premium to the stock’s average price over the past 20 days.
Malaysia Maybank may need 500m ringgit to bid for Kim Eng units
January 6th, 2011 |
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Malaysia’s top lender, Maybank (MBBM.KL), will finance its purchase of Singapore broker Kim Eng Holdings (KEHS.SI) through a mix internal and external funds, its chief executive Abdul Wahid Omar said on Thursday.
Maybank may sell bonds to help finance Kim Eng takeover bid
January 6th, 2011 |
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Malayan Banking may sell bonds to help finance the takeover of Kim Eng Holdings, Chief Executive Officer Abdul Wahid Omar said in Kuala Lumpur today.
The plan may include selling Singapore dollar debt as Kim Eng is a Singapore entity, he said.
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Boustead Singapore rated ‘buy’ by Kim Eng
January 6th, 2011 |
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Kim Eng Research in a Jan 3 research report says: “Boustead has been quietly delivering, reporting record profits year after year from FY Mar03 to FY Mar09, with sustained double-digit growth rate. Multiple growth opportunities exist for Boustead’s varied businesses.