DBS Vickers Securities in a Jan 5 research report says: “Kicked off 2010 with $68 million energy-related contracts. The contracts involve provision of key process equipment for oil refineries, petrochemical plants and gas processing plants in Australia, Brazil, Saudi Arabia and the UK.
Posts Tagged ‘upgraded’
Golden Agri-Resources upgraded to buy
January 4th, 2010 |
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Phillip Securities Research in a Jan 4 research report says: “We expect Golden Agri-Resources’ (GGR) fresh fruit bunch (FFB) output to grow 5-10% this year on the back of new mature areas and improving yields. We forecast that total FFB production to reach about 8 to 8.5 million tonnes in FY10E from 7.7 million tonnes in FY2009E.
SC Global Developments upgraded to buy
December 21st, 2009 |
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Phillip Securities Research in a Dec 18 research report says: “SC Global is a luxury property developer and has achieved poor sales in 2009. We believe that this will change in 2010 with the recovery of the luxury property market. URA data has shown that buyers have started purchasing luxury homes.
Sing Holdings upgraded to buy
December 21st, 2009 |
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Phillip Securities Research in a Dec 18 research report says: “Sing Holdings will launch The Laurels in 1Q10. We expect it to price the high-end property attractively. With the recovery of the mid-end and high-end market, we expect strong sales for this project.
Ho Bee Investment upgraded to buy
December 21st, 2009 |
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Phillip Securities Research in a Dec 18 research report says: “Based on the progress of construction, we expect Ho Bee’s profit to decline from $386.4 million in FY2009F to $164.4 million and $60.1 million in FY2010F and FY2011F respectively. This is because most of its projects are completed in FY2009F.
Avi-Tech Electronics upgraded to buy
December 18th, 2009 |
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OCBC Investment Research in a Dec 11 research report says: “Avi-Tech Electronics recently missed our expectations slightly due to its dependence on capital equipment segment. We are raising our FY2011 forecasts by ~6% in anticipation of the improved business in its various segments.
Iran tests upgraded medium-range missile
December 17th, 2009 |
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A defiant Iran yesterday test-fired an improved version of its Sejil 2 medium-range missile, which it says can reach targets inside Israel, prompting a sharp rebuke from Britain. “It hit the defined target,” state television reported, without giving further details. The two-stage Sejil, powered
Wing Tai upgraded to ‘buy’ with price target of $2.05 by DBS Vickers
December 10th, 2009 |
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DBS Vickers has upgraded Wing Tai Holdings (W05.SG) to “buy” from “hold”, raising its target price to $2.05 from $1.83, based on 10% discount to NAV estimate vs 20% discount previously, on view developer will gain from expected pickup in Singapore’s high-end residential market.
Singapore stock market upgraded to ‘overweight’ by Daiwa
December 8th, 2009 |
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Daiwa has upgraded the Singapore stock market to “overweight” from “underweight” as it offers “low beta exposure to recovery trade”.
This comes as the brokerage sees near-term upside bias for Asian ex-Japan equity markets amid supportive macro backdrop.
“Governments around the world will maintain policy flexibility and abundant liquidity in the coming months to reinforce the recovery process,” adds Daiwa.
Hisaka Holdings upgraded to buy
December 3rd, 2009 |
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NRA Capital in a Dec 2 research report says: “2H09 net profit of $1.6 million (+19% y-o-y) was slightly better-than our forecast due to better associates contribution. 2H09 sales were flat y-o-y at $26.4 million but jumped 238% h-o-h from $7.8 million. Gross margins decreased by 1.8% pts y-o-y to 18.6%.
CapitaMall Trust upgraded to buy
December 2nd, 2009 |
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Kim Eng Research in a Nov 26 research report says: “The tender for Clementi Mall in early November drew a healthy response of six bids and the winning bid by a consortium led by SPH translated to a breakeven of nearly $3,000 psf. CMT’s bid of $338.8 million, which translated to a breakeven of about $2,000 psf, came in third.
Keppel Land upgraded to buy
December 2nd, 2009 |
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OCBC Investment Research in a NOv 30 research report says: “The Marina Bay Suites (MBS) was finally previewed last week and saw exceptional demand from buyers on the first day of the preview. We are now raising our average selling price assumption for MBS to $2,500.
SIA Engineering Co upgraded to outperform
November 25th, 2009 |
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CIMB in a Nov 23 research report says: “SIE’s 2QFY10 results beat our expectations because of stronger-than-expected line maintenance, following record-high flights handled at Changi. We believe the strength will persist with airlines reinstating flights that were cut in the past year and adding capacity as demand turns around.
China invests in Canada’s tar sands: Upgraded
September 3rd, 2009 |
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Rumours of the death of a controversial oil province prove exaggerated
CRITICS of the exploitation of Canada’s tar sands watched gleefully this year as the collapse in the oil price did what their opposition could not: dent the oil industry’s enthusiasm for this mixture of sand and bitumen, which generates a lot of pollution when it is extracted and “upgraded” into oil. A year after crude markets began their slump, however, there are green shoots appearing in the ravaged muskeg soil. On August 31st PetroChina, a state-owned Chinese oil firm, agreed to pay C$1.9 billion ($1.7 billion) for a majority stake in two tar-sands projects.
Admittedly, the frenzy of recent years is over. By one count, 13 projects that were on the books a year ago have been delayed or cancelled. Investment is falling. Between 2008 and 2010 developers were expected to spend C$128 billion on tar sands projects. Now the outlay will be around C$80 billion, according to the Oil Sands Developers Group (OSDG), an industry body. Forecasts of oil production from the tar sands have also taken a hit. Just a couple of years ago the Canadian Association of Petroleum Producers predicted output would reach 4m barrels a day (b/d) by 2020. Now it says 3.3m b/d by 2025. …