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Posts Tagged ‘starts’

CIMB starts Mewah at Outperform; $1.41 target

CIMB initiates Mewah International (MV4.SG) at Outperform with a $1.41 target price. The house says Mewah is the second largest palm-oil refiner by capacity in Malaysia, the sixth largest globally and the owner of a stable of brands.

“We’re bullish on its growth prospects from capacity and margin expansion, with earnings upside from acquisitions. Our target price of $1.41 is based on 13X CY12 P/E, a 10% discount to the plantation sector average to factor in its slimmer margins.” 

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BNP Paribas starts Mewah International at Buy

BNP Paribas starts Mewah International (MV4.SG) at Buy with a $1.33 target price. It says Mewah — Malaysia’s second-largest palm oil refiner and sixth-largest globally — has modern plants with state-of-the-art equipment, uses computerised process control and robotic system-storage facilities:

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EULEX starts preliminary investigation

EULEX prosecutors have begun a preliminary investigation into the allegations made in CoE Rapporteur Dick Marty’s report on organ trafficking in Kosovo.

EULEX has the capacity, competence, location and authority to conduct the inquiry and is willing to do so, says the release.

Bank of America-Merrill Lynch starts GMG Global at Buy; $0.50 target

Bank of America-Merrill Lynch starts GMG Global (5IM.SG) at Buy with a $0.50 target.

The house says the stock offers a 75% potential upside and new target price implies FY2011 price earnings of 15.5X. “Rubber is the new black” and that GMG is the “world’s pure rubber play,” the house says. 

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CIMB starts Q&M Dental at Buy; $0.83 target

CIMB initiates Q&M Dental (JW8.SG) at Buy with a $0.83 SOTP-based target price. “Q&M offers investors value at 15X CY12 P/E (cheaper than peers) against our 3-year core earnings CAGR forecast of 30%. We like it for its strong recurring earnings in the domestic market and international expansion plans.” 

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HSBC starts Sabana at Overweight, $1.12 target

HSBC starts Sabana Shari’ah Compliant REIT (M1GU.SG) at Overweight with a $1.12 target price; house likes Singapore’s first Shari’ah compliant REIT for its steady income profile and current pricing: “While we project flattish DPU over the next three years (distribution yield: 8.2%), we note that Sabana is trading at a 10% discount to our diluted FY11 NAV of $1.11 and at a 12% discount to our DDM valuation of $1.14, suggesting valuations are attractive.” 

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HSBC starts Ascendas REIT at Overweight

HSBC starts Ascendas REIT (A17U.SG) at Overweight, with a $2.36 price target. The house says A-REIT is the “leader of the industrial pack.” It adds, A-REIT has a stable income profile from diversified exposure across industrial property types, tenants and lease tenures. 

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SGX starts Catalist listing of early stage exploration firms

Singapore Exchange said it will welcome the listing of early stage mineral, oil and gas companies on its Catalist board. The companies won’t need to have revenue or earnings, but must have an established presence of at least “indicated resources” of minerals or “contingent resources” of oil and gas.

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Sharapova starts with Australian Open victory

Maria Sharapova 5Maria Sharapova began her bid for a second Australian Open title with a second-set comeback to post an opening-day victory over Thai veteran Tamarine Tanasugarn 6-1, 6-3 Monday. The three-time Grand Slam winner swept the opening set but trailed 1-3 in the second before finally claiming the win. The Russian 14th seed, who claimed the [...]

Phillip starts Overseas Union Enterprise at Buy

Phillip Securities initiates coverage on Overseas Union Enterprise (LJ3.SG) at Buy with a $4.28 target price with zero premium/discount applied to RNAV, representing 18.9% upside over Friday’s closing price.

It says OUE’s revenue is strengthened with the acquisition of DBS Towers in August 2010. It notes “FY11 earnings will be further reinforced by the completion of two Grade-A office buildings – OUE Bayfront in 1Q11 and One Raffles Place Tower Two in 2H11, and recognition of sales from residential development Twin Peaks.” 

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Morgan Stanley starts Amtek Engineering at overweight

Morgan Stanley initiates Amtek Engineering (M1P.SG) at Overweight with a $1.46 target; it says since delisting in 2007, Amtek has repositioned itself under new management as a specialist in the manufacture of complex metal precision components, broadening its product line-up, clientele and end-market applications. 

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IIFL starts SembMarine at Buy, targets $6.83

IIFL starts SembCorp Marine (S51.SG) at Buy with a $6.83 target price. Says SMM led the revival of new jack-up rig orders in 2H10; “We expect it to consolidate its lead with 11 new jack-up orders (including eight option exercises and three new orders) in 2011. The company is unlikely to win the Petrobras tenders, but its order book will be boosted by a renewed building cycle for competitive fleets.” 

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Kim Eng starts RH Petrogas at Buy; $1.35 target

Kim Eng starts RH Petrogas (T13.SG) at Buy with a target of $1.35 based on a conservative sum-of-the-parts valuation of its oil field assets. 
 
“We expect the company to cement its place as a major player in the regional upstream energy sector…(the company) is backed by the Rimbunan Hijau Group, one of the largest conglomerates in Malaysia. RHP is therefore able to leverage the broader capabilities and financial strength of the group. It is also likely that there will be more oil field assets injected into RHP from the RH Group,” Kim Eng says. 
 
The house expects RH Petrogas to issue new equity shares to fund its development parts and Temasek may become a significant shareholder under the terms of the sale of Orchard Energy. 
 
The stock is +10% at $0.82.
 
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AmFraser starts Global Palm Resources at Buy

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.” 

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DMG starts Leader Environmental at Buy; eyes $0.53

DMG starts Leader Environmental (LS9.SG) at Buy with a $0.53 target. It says the China-based industrial waste treatment equipment maker is set to grow steadily in the next few years, driven by “favourable regulatory policies in China, its strong presence in the heavily polluted Northern China, and popular desulphurisation systems.” 

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Sharapova starts year with New Zealand victory

Maria SharapovaMaria Sharapova survived a late change of opponent to advance to the second round of the ASB Classic as she defeated Italy’s Alberta Brianti 6-2, 6-3 Monday. The Russian who last struck a competitive ball in early October in Beijing before ending her season early, faced Brianti as original opponent Carla Suarez Navarro of Spain [...]

CIMB starts Amtek at Outperform; $1.52 target

CIMB starts Amtek Engineering (M1P.SG) at Outperform with $1.52 target price, pegged at 9X CY12 P/E. “This offers 41% upside potential (from Friday’s close) and values Amtek conservatively at about one standard deviation above its six-year mean P/E prior to its privatization in 2007.” 

House projects 39% earnings CAGR for FY10-13; “We see catalysts from strong sets of results, continuous strong growth in the automotive segment, and any M&A announcements.” 

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Digital Security Starts With Educated Users

With digital security exploits at an all time high, it is time for corporations to thoroughly review their security products and digital security procedures. In this episode of Deeper Thinking sponsored by IBM, security expert Bobby Kuzma explains how to get users educated about security, implement security procedures that can help make up for
user mistakes and create a user responsibility model for your company.
– Video Content.


C&G starts construction of its 4th waste-to-energy plant this year

C&G Environmental Protection Holdings, the emerging player in China’s renewable waste-to-energy sector, says it has recently started construction of a new WTE plant located in Xiaogan City, Hubei Province.

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HP Starts New Support Service for ProLiant Servers

HP claimed that Critical Advantage is the first service offering from a major technology vendor that delivers support for business-critical applications in virtualized x86 environments. – HP on Dec. 14 launched a new support package for virtualized ProLiant servers aimed at improving performance and availability of key business applications.

The HP Critical Advantage service provides clients with an assigned account team to deliver support and maintain uptime of business-critical,…