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Upgrade target price for Sembcorp Industries (SCI) to S$4.09, with 21% upside potential. Retain BUY.Cheaper and indirect investment into listed subsidiary, Sembcorp Marine.2Q09 earnings we … 
Small/Mid Cap Strategy: From green to amberWith equity market valuation normalized and growth set to swing from V-shaped to gradual growth, be selective. Go for themes that can sustain thr …
A commendable 1Q10Occupancies dipped to 97% but should recoverNew proposed construction – pipeline to grow portfolio by 35% by 2012Maintain HOLD, TP S$0.88 based on DDMCommendable quarter. …
BUY S$1.15; Bloomberg: IFAR SPPrice Target : 12-month S$ 1.35Key takeaways from conference: Improving efficiency and banking on sugar plantationsBuy now for upside of 17.4%Raising yields: South Sumatra infrastructure upgraded; London Sumatra management replacedAdding growth from sugar plantationsIndofood Agri Resources (IndoAgri) expects to have a meaningful profit …
1H09 results 40% below expectations1H09 revenue and earnings down 20% and 56% y-o-y, respectivelyOperating margin squeezed due to advertising expensesInterim Dividend of RMB1ct per shareDowngrade to HOLD with TP S$0.211H09 earnings down 56% y-o-y, with revenue falling 20% y-o-y.The decrease in the top line was attributed to weak consumer demand and the de-stocking process in ...
Seeking dual-listing in HK. China XLX announced this morning that the Group is proposing a dual-listing in HK. This is still at very preliminary stage with no details . The proposal is sub …
1H09 earnings were above our expectation, due to better contribution from O&M and property.15 Scents per share interim dividend for 1H09.Revise FY09 net profit upwards by 24%, but red …
Unveiled new Deepwater Subsea division, which should drive growth over next 6-8 yearsPotential upside to earnings forecast should Ezra successfully secure higher value subsea contractsReit …
Buys 5 hospitality properties in Australia at a purchase consideration of A$175 m Fixed rent portion from properties more than 90%, providing more stability to overall portfolio Gearing increases approximately to 30.0% Maintain hold recommendation, fair value raised to $1.96Acquisition CDL HT announced that it has entered into sales and purchase agreements to purchase 5 ...
Initiate coverage with BUY recommendation. We initiate coverage on Kencana Agri (Kencana) with a BUY call and a target price of S$0.38 based on the RNAV of the company’s landbank. At S$0.3 …
FY09 results disappointed on weak 2H utilization rates.Slashing FY10F/11F numbers by 30-34% on lowered utilization and EBIT margin assumptions.Downgrade to HOLD, TP reduced to S$0.72.Adversely impacted by poor 2H utilization rates.While Swissco posted an 11% y-o-y growth in FY09 revenue to S$58.6m, recurring net profit was below expectations at S$14.5m (-21% y-o-y). This was ...
ISBN13: 9780814474600Condition: NEWNotes: Brand New from Publisher. No Remainder Mark.Product DescriptionEvery stock market investor needs to be able to calculate value, profits, and cash …
PEC delivered a positive surprise in 1Q10 (FYE June), with S$80m new orders. Expect another S$150m new orders before end June 2010; using 30% hit rate on S$500m order pipeline.Estimated S$0.32 net cash per share by end FY10 accounts for 51% of current share price.Potential 41% upside to target price of S$0.88. We initiate coverage ...
Results are in line with our expectations, with 1H09 earnings down 9.5% y-o-yPBT from toll roads increased 9.9% y-o-y in 1H09Interim dividend of S2.5cts, based on 48% payoutRe-iterate BUY, …
Asset portfolio to grow to S$2.6bn post acquisition of 2 Malaysian mallsPartially funded through new issuance of convertible preference units (“CPUs”)Accretion to earnings estimated at 6-1 …
by OCBC, Carmen Lee2009 is a spectacular year where the market witnessed wide swings in prices. Fortunately, most indices are now up for the year. The momentum was strong in 2Q and 3Q and is tapering off now in 4Q09. Corporate earnings have bottomed, but further share price upside needs to be supported by a ...
CSE to acquire UK based company for S$21.5mKey jewels include solid customer base and skilled employeesFY10F/11F earnings revised up 6-7%TP raised to S$1.25. BUY for 30% potential upsideHow much is CSE paying? CSE has agreed to acquire UK based, Systems Integration & Automation Limited (SIA) for S$21.5m, ...
Product DescriptionUnwritten rules of Wall Street–what works, what doesn’t, and how investors can tell the difference Investing is governed by unofficial rules, passed to investors through brokers, the financial press, and even fellow investors. For more than a decade, in two previous editions, Stock Market Rules has helped ... 
Revenue rebounded 43% q-o-q, better than estimatesNet profit of S$3.6m slightly above expectation owing to higher gross marginsMomentum should continue into seasonally strong 3QMaintain BUY, target price revised to S$0.402Q09 sales rebounded 43% q-o-q (down 7% y-o-y), significantly better than our 10% growth projection, driven by broad-based re-stocking activities in the … 
Summary:2Q09 results showed stable performancePrivate placement exercise leads to c10% dilutionImpact on AEI activities only in the medium termDowngrade to HOLD, TP S$0.41 based on DCFResults in line.Cambridge Industrial Trust (CREIT) 2Q09 results were in line with expectations. Results were underpinned by a portfolio mainly secured on sale and leaseback leases. … 
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