singapore stock market ,singapore stock market ,sgx market

ASCENDAS INDIA TRUST, dbs maintain BUY with target price $0.91($1.01)

GENTING INT, ocbc downgrade to HOLD with target price $0.63($0.76)

LONGCHEER, cimb maintain OUTPERFORM with target price $0.69

MAN WAH, ocbc maintain BUY with target price $0.51

NOBLE, nom maintain BUY with target price $2.29

OLAM, cl maintain SELL with target price $1.61

QUALITAS MEDICAL by ocbc

RAFFLES EDUCATION, citi downgrade to HOLD with target price
$0.95($1.50)

SINGTEL, lehman downgrade to EQUAL WEIGHT with target price
$3.75($4.50)

STARHUB, lehman maintain OVERWEIGHT with target price $3.08($3.80)

TIONG WOON, csfb maintain OUTPERFORM with target price $0.65

WING TAI, citi maintain BUY with target price $2
WING TAI, csfb maintain UNDERPERFORM with target price $1.23($1.69)
WING TAI, db maintain HOLD with target price $1.45($2.27)
WING TAI, dbs maintain HOLD with target price $1.59($1.86)
WING TAI, jpm maintain OVERWEIGHT
WING TAI, ms maintain EQUAL-WEIGHT with target price $1.68
WING TAI, uob maintain BUY with target price $1.90($2.10)

CAPITAMALL TRUST, citi upgrade to BUY with target price $3.30
CAPITAMALL TRUST, db maintain BUY with target price $4.04

CDL HOSPITALITY, ubs upgrade to BUY with target price $1.35($1.80)

CELESTIAL, dbs maintain BUY with target price $1.08

CHINA HONGXING, dbs maintain BUY with target price $0.55($0.9)

CHINA YUANBANG, cimb maintain UNDERPERFORM with target price
$0.13($0.15)

CREATIVE, cimb maintain UNDERPERFORM with target price $4.55

EPURE INT, dbs maintain BUY with target price $0.93

FERROCHINA, dbs maintain BUY with target price $2.67

GUOCOLAND, dbs maintain FULLY VALUED with target price $2.02($2.87)
GUOCOLAND, gs maintain NEUTRAL with target price $2.50($3)
GUOCOLAND, jpm maintain OVERWEIGHT with target price $2.70
GUOCOLAND, uob maintain BUY with target price $3.20

IFS CAPITAL, dmg downgrade to NEUTRAL with target price $0.65

KEPPEL CORP, daiwa reinitiate coverage OUTPERFORM with target price
$10.60

MAPLETREE, ubs maintain BUY with target price $0.82($1.41)

MICRO-MECHANICS, ocbc downgrade to HOLD with target price $0.69($0.74)
MICRO-MECHANICS, wc maintain HOLD with target price $0.71

SEMBCORP INDUSTRIES, daiwa reinitiate coverage OUTPERFORM with target
price
$4.32

SEMBCORP MARINE, daiwa reinitiate coverage UNDERPERFORM with target
price
$3.50

ST ENGINEERING, daiwa reinitiate coverage HOLD with target price $3

WILMAR, cimb maintain NEUTRAL with target price $4.60

YANLORD LAND, dbs maintain BUY with target price $2.06

ASCENDAS REIT, cimb maintain OUTPERFORM with target price $2.60

CEREBOS, cimb maintain OUTPERFORM with target price $4.86

CHINA HONGXING, db maintain BUY with target price $0.85

CHINA XLX by ocbc

COMFORTDELGRO, nom maintain NEUTRAL with target price $1.65

ENG KONG HOLDINGS, dbs maintain HOLD with target price $0.21($0.23)

FIRST RESOURCES, citi maintain BUY with target price $1.42($2.20)

F J BENJAMIN, cimb maintain UNDERPERFORM with target price $0.23($0.4)

FRASERS CENTREPOINT TRUST, ocbc resuming coverage with target price
$1.20

GUOCOLAND, gs remains NEUTRAL with target price $2.50(from $3)

INDOFOOD, cimb maintain NEUTRAL with target price $1.63

JAYA HOLDINGS, dbs maintain BUY with target price $2.07

KEPPEL CORP, gs maintain BUY with target price $13($13.20)

SEMBCORP MARINE, cimb maintain OUTPERFORM with target price $5.25

SGX, cl downgrade to SELL with target price $4.80($7)

SINGAPORE LAND, jpm terminating coverage

SPC, gs downgrade to NEUTRAL with target price $6.30

STARHUB, nom maintain BUY with target price $3

SYNEAR, uob maintain BUY with target price $0.58($0.72)

YANGZIJIANG, csfb downgrade to NEUTRAL with target price $0.63($1.20)

ASL MARINE, dbs maintain BUY with target price $2.07($2.01)
ASL MARINE, uob maintain BUY with target price $1.55($1.90)

CHINA MILK, philip maintain BUY with target price $0.94

CHT HOLDINGS, sias maintain BUY with target price $0.25

CITY DEV, cimb maintain OUTPERFORM with target price $13.05

COSCO, cl maintain UNDERPERFORM with target price $2.20
COSCO, citi maintain BUY with target price $4.15

FERRO CHINA, cimb maintain OUTPERFORM with target price $2.44

KEPPEL LAND, cimb maintain NEUTRAL with target price $5.68

MIYOSHI, ocbc maintain BUY with target price $0.15($0.185)

PARKWAY, csfb maintain OUTPERFORM with target price $3.45($3.40)

QIAN FENG by ocbc

STARHUB, cimb maintain NEUTRAL with target price $3

STRAITS ASIA, dbs maintain BUY with target price $3.49

SWIBER, dbs maintain BUY with target price $3.49

TAT HONG, jpm maintain OVERWEIGHT with target price $2.33($2)

ALLCO COMMERCIAL REIT, csfb reinstating coverage with NEUTRAL with
target
price $0.088($0.76)

ARMSTRONG, kim eng maintain BUY with target price $0.48

BANYAN TREE, cimb maintain OUTPERFORM with target price $2.60
BANYAN TREE, dbs maintain BUY with target price $1.68($2.03)

BREAD TALK, kim eng maintain BUY with target price $0.77

CEREBOS, cimb maintain OUTPERFORM with target price $4.86

CHINA ESSENCE, daiwa maintain OUTPERFORM with target price $0.75($0.88)

CHINA FISHERY, cimb maintain OUTPERFORM with target price $2.90
CHINA FISHERY, dbs maintain BUY with target price $2.48

CHINA LIFESTYLE, daiwa downgrade to SELL with target price $0.24($0.29)

CHINA OILFIELD, ocbc downgrade to HOLD with target price $0.19

CITY DEV, citi maintain BUY with target price $12.21
CITY DEV, csfb maintain UNDERPERFORM with target price $9.54($10.20)
CITY DEV, db maintain BUY with target price $14.90
CITY DEV, dbs maintain BUY with target price $12.16($12.90)
CITY DEV, nom maintain NEUTRAL with target price $10.53
CITY DEV by ocbc
CITY DEV, uob maintain BUY with target price $13

CITY SPRING, ms maintain OVERWEIGHT with target price $1

COMFORTDELGRO, ubs downgrade to NEUTRAL with target price $1.60($2.48)

CSE GLOBAL, dbs maintain BUY with target price $1.62

DBS, nom upgrade to BUY with target price $22.20

DELONG, cimb maintain UNDERPERFORM with target price $2.09
DELONG, uob maintain HOLD with target price $2.82

EPURE, uob maintain BUY with target price $0.74

FERROCHINA, cimb maintain OUTPERFORM with target price $2.44
FERROCHINA, daiwa maintain BUY with target price $2
FERROCHINA, dbs maintain BUY with target price $2.67($2.75)
FERROCHINA, ocbc maintain BUY with target price $2.36($2.30)
FERROCHINA, uob maintain BUY with target price $2.12

GENTING INT, cimb maintain NEUTRAL with target price $0.65
GENTING INT, gs maintain NEUTRAL with target price $0.56($0.69)
GENTING INT, jpm maintain UNDERWEIGHT

HOTEL GRAND CENTRAL, ocbc downgrade to HOLD with target price
$0.88($1.25)

HOTEL PROPERTY by cimb
HOTEL PROPERTY, dbs maintain HOLD with target price $3.29

HTL INTERNATIONAL, daiwa maintain UNDERPERFORM with target price $0.32

Singapore stock market news,singapore stock market ,singapore  market

FIRST RESOURCES, dbs downgrade to HOLD with target price $0.95($1.40)
FIRST RESOURCES, uob maintian BUY with target price $1.65

FORELAND, ocbc maintain BUY with target price $0.25($0.39)

GENTING INT, cimb maintain NEUTRAL with target price $0.65
GENTING INT, gs maintain NEUTRAL with target price $0.69
GENTING INT, jpm maintain UNDERPERFORM with target price $0.49

HONG LEONG ASIA, uob maintain BUY with target price $2.34($4)

JIUTIAN by cimb
JIUTIAN, uob maintain SELL with target price $0.1($0.11)

KEPPEL CORP by jpm

MACQUARIE INT INFRA FUND, mac maintain OUTPERFORM with target price
$1.08

PACIFIC SHIPPING TRUST, ocbc maintain BUY with target price
US$0.41(US$0.48)

PAN UNITED, ocbc maintain BUY with target price $1.03

PARKWAY, cimb upgrade to NEUTRAL with target price $2.71
PARKWAY, citi maintain SELL with target price $2.03
PARKWAY, csfb maintain OUTPERFORM with target price $3.40
PARKWAY, dbs maintain HOLD with target price $2.40($3)
PARKWAY, jpm upgrade to NEUTRAL with target price $2.20

PEOPLE’S FOOD, csfb maintain NEUTRAL with target price $1.05

PETRA FOOD, dbs maintain FULLY VALUED with target price $0.78($1.20)

PEOPLE’S FOOD, gs maintain NEUTRAL with target price $1.10($1.30)

SC GLOBAL, dbs maintain HOLD with target price $1.25($1.60)
SC GLOBAL, uob maintain HOLD with target price $1.40

SINGTEL, daiwa downgrade to HOLD with target price $3.84($4.43)
SINGTEL, mac maintain NEUTRAL with target price $3.50

SWIBER, cimb maintain OUTPERFORM with target price $4.62($4.90)
SWIBER, dbs maintain BUY with target price $3.49

SWISSCO, dbs maintain BUY with target price $1.41($1.28)

TAT HONG, cimb maintain OUTPERFORM with target price $2.10($3.16)
TAT HONG, csfb maintain OUTPERFORM with target price $2.75
TAT HONG, dbs maintain BUY with target price $2.70

YANGZIJIANG, cl downgrade to UNDERPERFORM with target price $0.64

JIUTIAN by cimb
JIUTIAN, uob maintain SELL with target price $0.1($0.11)

JIUTIAN by cimb
-Below. 2Q08 net profit of Rmb7.0m (-62% yoy) forms 15% of our FY08
forecast and 16-18% of consensus. Key variances were
lower-than-expected
utilisation rates, worse-than-expected gross margins,
higher-than-expected
borrowing costs and a higher effective tax rate. 1H08 net profit of
Rmb12.6m (-67% yoy) accounts for 28% of our FY08 forecast and 29-32% of
consensus.
-Sales rose 27% yoy to Rmb76m, on higher DMF (+4% yoy) and methylamine
ASPs
(+42% yoy), partially offset by lower sales volume (-31% yoy). There
was a
visible shift in the sales mix towards methylamine and away from DMF in
2Q08, which accounted for 51% and 41% of group turnover respectively
(2Q07
19% and 72% respectively). Qoq, DMF sales dropped 41% as the Jiutian
and
Jiuyang DMF plants operated at modest utilisation rates of about 75%
and
10% respectively (1Q08 109% and 9%).
-Management attributed the lower-than-expected utilisation rates to 1)
lower water gas (raw material) supply from the Anhua Group which had
scaled
back plant operations due to coal shortages; 2) fewer operating days
owing
to plant shutdowns for the replacement of catalysts; and 3) rising
methanol
prices (raw material).
-Jiuyang DMF plant extends losses. The 120,000-tonne p.a. DMF plant
lost
Rmb2.2m at the gross level in 2Q08, its third consecutive quarter of
loss
since the start of operations in 3Q07. Jiuyang’s average utilisation
rate
was 10%, lower than the 15% we were expecting. As guided in 1Q08,
management tried to mitigate the losses by shutting down the plant
intermittently, when the DMF/methylamine-methanol price dynamics was
unfavourable. Unfortunately, methanol prices jumped 88% yoy and 42% qoq
in
2Q08 and ate into Jiuyang’s profits.
-Gross margins declined 11% pts yoy but improved 6% pts qoq to 29%.
Stripping out losses at Jiuyang, gross margins for the old Jiutian DMF
plant were stable at 39% (2Q07 40%; 1Q08 37%).
-Delay in new methanol plant (Jiulong). Management has postponed the
completion of Jiulong from end-3Q08 to 1Q09. As a ramp-up is likely to
take
a quarter, cost savings from the 200,000-tonne p.a. in-house methanol
plant
are likely to kick in only from 2Q09. This poses risks to our previous
DMF
margin assumptions for 4Q08-1H09.
-Intention to secure key raw materials? In FY09, Jiutian will be
shifting
from externally-purchased methanol to the use of anthracite coal to
produce
methanol inhouse. We believe the unexpected coal shortage at the Anhua
Group in 2Q08 highlights the business’s raw-material risks. We believe
that
Jiutian might consider forming strategic alliances with coal companies,
in
order to secure coal requirements. With management’s long-term focus on
coal-based chemical production, we believe further upstream integration
into coal is inevitable.
-Discontinuing coverage. While Jiutian’s new methanol plant could turn
around in FY09, we are concerned about a potential overcapacity from
massive methanol plant expansion in China in 2009-10. We remain bearish
on
DMF and methanol prices in China in the medium term. We are also wary
about
further margin pressure with Jiutian exposed to rising anthracite coal
prices from FY09. In view of Jiutian’s small market cap and margin
risks
from its low product diversification, we are ceasing coverage of the
stock.
Our previous target price was S$0.10 with the stock previously rated an
Underperform. Our forecasts (FY08-10) have not been adjusted for 2Q08
results.

JIUTIAN, uob maintain SELL with target price $0.1($0.11)
-Jiutian Chemical Group (Jiutian) recorded a 27.1% yoy increase in its
2Q08
revenue, but net profit for the same period fell 62.4% yoy to Rmb7.0m.
The
results were below our expectation.
-Ongoing low utilization rate in Jiuyang plant due to soaring methanol
prices. Average methanol prices increased 42.5% yoy from Rmb2,857 in
1Q08
to Rmb4,070 in 2Q08 resulting in Jiuyang’s plant producing at only 10%
of
its operational capacity. Such a low utilization rate also caused
Jiuyang
plant to incur a total loss of around Rmb6.2m in 2Q08.
-2H08 results are likely to be better. Since methanol is more and more
used
as both a feedstock for chemical production and as an alternative fuel,
the
correlation between prices of methanol and crude oil is increasing.
-Delay of Jiulong plant dims outlook in 1Q09. The completion of the
250,000
tonnes methanol plant in Jiulong will be delayed to 1Q09, so that the
commercial production will begin since Apr 09. This means that the bad
times for Jiutian will further extend for anther quarter.
-Valuation. We lowered our margins assumptions and earnings forecasts
for
2008-10 to factor in higher raw material costs such as coal and
methanol
prices, and the delay in Jiulong plant. Our fair price was also revised
down to S$0.10 based on 1x 2008 P/B. Maintain SELL.

KEPPEL CORP by jpm
- Repeat semi-sub order from Ensco Keppel Corp announced that it has
secured the ENSCO 8506 ultra-deepwater semi-sub order worth US$560MM
for 2H
2012 delivery. The Ensco 8506 is the seventh ultra-deepwater semi-sub
rig
that Keppel will be building for Ensco, and is part of a seven-rig
deepwater fleet capable of drilling in waters up to 8,500 feet (2,590
meters) deep. This confirms our previous expectation given that Keppel
has
already undertaken the building of the previous six rigs in the 8500
series
for ENSCO.
- New orders secured YTD climbed to S$5.2B The latest contract brings
Keppel’s new orders secured YTD to S$5.2B against S$4.2B in the same
time
last year. We remain confident of further orderbook momentum in light
of
the recent positive newsflow in the offshore and marine sector.
Keppel’s
O&M segment now trades at 11.3x FY09 and 11x FY10 P/E. Maintain OW.

SWISSCO, dbs maintain BUY with target price $1.41($1.28)

SWISSCO, dbs maintain BUY with target price $1.41($1.28)
-Story Swissco delivered a better-than-expected set of 2Q08 results,
with
revenue rising 61% y-o-y to S$12m and recurring net profit swinging
into a
profitable position of about S$4m. Headline net profit was down from
S$28m
in 2Q07, mainly due to the absence of sales of financial assets.
Consequently, Swissco? net profit increased to around S$8m in 1H08, due
to
better utilisation rates and higher day charter rates for its fleet.
-Point Swissco is expected to benefit from the sustained high day
charter
rates for offshore support vessels, due to the exposure of its fleet to
spot charter market. We have revised our recurring net profit estimate
higher by 32% to S$16m in FY08, and 35% to S$17m in FY09, in view of
the
higher margins secured in 1H08. Indeed, our earnings estimates are
still
conservative, in view of Swissco? expected delivery of another 10 new
vessels by end 2008, which will bring the total fleet to 38 offshore
vessels. Swissco? NTA per share is now S$0.45, excluding its stake in
SGX-listed Swiber Holdings that is currently worth S$0.30 and the
higher
RNAV for its offshore fleet.
-Relevance We have raised our fair value for Swissco to S$1.41 (vs.
S$1.28
previously). The fair value is based on sum-of-parts valuation, namely
1)
the valuation of Swissco? core chartering business at S$0.74 per share,
adjusting for an upward revised EPS estimate in FY08 and using a
reduced 9x
FY08 PE (vs. 10x previously) to adjust for lowered investors?risk
appetite,
and 2) our valuation of Swissco? 9% stake in Swiber Holdings at S$0.67
per
Swissco share.
-At Swissco? last closing share price level, and inputing Swissco?
stake in
Swiber Holdings at the latter? last closing price of S$1.51, Swissco?
core
offshore chartering business is valued at an undemanding 6x FY08 PE.
Indeed, even if we are to assume that Swiber Holdings?share price to
remain
suppressed despite last evening? better-thanexpected results, Swissco
should still be worth S$1.04 per share. Maintain BUY rating on Swissco.

singapore stock market news, singapore stock market ,singapore stockmarket

BEST WORLD, daiwa maintain OUTPERFORM with target price $0.88

BRIGHT WORLD by cimb
BRIGHT WORLD by dbs
BRIGHT WORLD, ocbc maintain BUY with target price $0.59

DBS, gs maintain NEUTRAL with target price $19.90
DBS, kim eng maintain BUY with target price $23.20

MAN WAH, daiwa maintain OUTPERFORM with target price $0.59
MAN WAH, dbs maintain BUY with target price $0.54($0.6)

NOL, gs maintain SELL

OCBC, gs maintain BUY with target price $9.70
OCBC, mac maintain OUTPERFORM with target price $10.48

PARKWAY HOLDINGS, ubs upgrade to BUY with target price $2.80($2.90)

RAFFLES MEDICAL by ubs

SGX, gs maintain NEUTRAL with target price $7.60($8.60)

STARHUB, daiwa maintain OUTPERFORM with target price $3.30($3.50)

STRAITS ASIA, gs maintain BUY with target price $3.95

BROADWAY INDUSTRIAL, cimb maintain OUTPERFORM with target price $1.60

CENTRALAND by uob

CITY DEV, csfb maintain UNDERPERFORM with target price $10.20

CHINA HONGXING, cimb downgrade to NEUTRAL with target price
$0.53($0.86)

COSCO, cimb maintain OUTPERFORM with target price $4.39
COSCO, csfb maintain UNDERPERFORM with target price $2.25
COSCO, dbs downgrade to FULLY VALUED with target price $2.46($3.25)
COSCO, ml maintain BUY with target price $4.80

CSC HOLDINGS, cimb maintain OUTPERFORM with target price $0.29($0.49)

F & N, dbs dbs maintain BUY with target price $5.44($5.80)

HOUR CLASS, uob maintain BUY with target price $1.19($1.35)

INNOVALUES, cimb maintain OUTPERFORM with target price $0.22

MEIBAN, cimb maintain upgrade to UNDERPERFORM with target price $0.31
MEIBAN, dbs maintain HOLD with target price $0.25($0.38)

MIDAS, csfb maintain OUTPERFORM with target price $0.95
MIDAS, dbs maintain BUY with target price $1.10($1.45)
MIDAS, ocbc maintain BUY with target price $0.98($1.65)

NOL, cimb downgrade to UNDERPERFORM with target price $2.55($4.50)
NOL, csfb maintain NEUTRAL with target price $3.30
NOL, db maintain BUY with target price $4
NOL, lehman maintain EQUAL-WEIGHT with target price $2.30($2.60)
NOL, mac maintain UNDERPERFORM with target price $2.25
NOL, ubs downgrade to SELL with target price $2.20($3.30)

PAN HONG, cimb maintain OUTPERFORM with target price $0.51

SEMBCORP INDUSTRIES, citi maintain BUY with target price $5.35($5.50)

SINGAPORE EXCHANGE, cimb maintain OUTPERFORM with target price $8.90
SINGAPORE EXCHANGE, citi maintain SELL with target price $6.45
SINGAPORE EXCHANGE, csfb maintain NEUTRAL with target price $8
SINGAPORE EXCHANGE, db maintain BUY with target price $9
SINGAPORE EXCHANGE, dbs maintain HOLD with target price $7
SINGAPORE EXCHANGE, jpm maintain OVERWEIGHT with target price $9
SINGAPORE EXCHANGE, ml maintain UNDERPERFORM with target price $5
SINGAPORE EXCHANGE, ocbc maintain BUY with target price $8.10($9.60)
SINGAPORE EXCHANGE, uob maintain SELL with target price $6($5.30)

SINGTEL, mac maintain NEUTRAL with target price $3.50

SINO-ENVIRONMENT, cimb maintain OUTPERFORM with target price $2.18

STARHUB, citi maintain BUY with target price $3.05($3.20)
STARHUB, csfb maintain UNDERPERFORM with target price $2.55($2.70)

STRAITS ASIA, csfb maintain OUTPERFORM with target price $4.10
STRAITS ASIA, ocbc maintain BUY with target price $4.80

TAT HONG, dbs maintain BUY with target price $2.70

VENTURE, citi maintain BUY with target price $12.50($14.20)
VENTURE, daiwa maintain OUTPERFORM with target price $13.50

TAT HONG, dbs maintain BUY with target price $2.70

TAT HONG, dbs maintain BUY with target price $2.70
-Story The Board of Directors of Tat Hong has come out last night to
clarify that 1) there is no fundamental explanation for the recent
sharp
sell down of the group’s share price, and 2) the corporate and industry
outlook have remained positive, as spending on regional infrastructure
projects and the oil and gas boom continue to underscore the demand for
its
cranes. While Tat Hong cannot give guidance on its 1Q09 results that is
due
for release on 13 August, we see the references to its proven business
execution in the past and maiden contribution from tower crane division
as
indication of the group’s confidence in its financial performance in
FY09
(financial year ended March).
-Point We are maintaining our net profit estimate at S$102.9m in FY09,
driven by growth in rental rates and higher selling prices for cranes
in a
still tight secondary market. This is supported by the lengthened
delivery
leadtime for cranes from 18 months a year ago to the current 24 months,
and
the still strong regional infrastructure and construction project
pipeline,
which will continue to increase the supply/demand imbalances in Asia.
Tat
Hong’s current share price is trading at 6.0x FY09 PE, which is among
the
cheapest amongst its peers listed on the Singapore and Australia stock
exchanges. Indeed, we estimate that Tat Hong’s core and higher value
crawler crane-related business is trading at an even lower implied 5.5x
FY09 PE, after subtracting earnings contribution and market values of
Tutt
Bryant and 20%-owned Yongmao Holdings.
-Relevance Our target price stays at S$2.70, using 13x FY09 PE, which
is in
line with its average historical PE. The group also announced its
S$12.6m
convertible loan agreement with Hiap Tong Corporation Pte Ltd, which
has
submitted an IPO application with Singapore Stock Exchange (SGX). Tat
Hong
may end up with a 20% stake in Hiap Tong, whose eventual listing may be
a
price catalyst. Maintain BUY.

singapore stock market news,singapore stock market

SYNEAR, uob maintain BUY with target price $0.72

CHINA SKY, citi maintain BUY with target price $1.03($1.16)
CHINA SKY, csfb maintain OUTPERFORM with target price $1.17($1.22)
CHINA SKY, cimb maintain OUTPERFORM with target price $2.25($2.62)
CHINA SKY, dbs downgrade to HOLD with target price $0.96($1.70)
CHINA SKY, uob maintain BUY with target price $1.74($2.16)

CHINA SUN BIO-CHEM, wc maintain HOLD with target price $0.23

CHINA ZAINO, cimb maintain OUTPERFORM with target price $0.95
CHINA ZAINO, uob maintain BUY with target price $0.725

CREATIVE, csfb maintain UNDERPERFORM with target price $5.50

FIBRECHEM, cimb maintain OUTPERFORM with target price $1.46

HK LAND, mac downgrade to UNDERPERFORM with target price $3.50($4.70)

HYFLUX, csfb maintain OUTPERFORM with target price $3.60
HYFLUX, dbs maintain BUY with target price $3.34($3.53)

KEPPEL CORP, mac maintain OUTPERFORM with target price $13($13.90)

LI HENG, dmg maintain BUY with target price $1.35
LI HENG, ocbc maintain BUY with target price $1.16

NOL by ubs

OCBC, csfb maintain NEUTRAL with target price $9

SEMBCORP INDUSTRIES, cimb maintain OUTPERFORM with target price $5.82
SEMBCORP INDUSTRIES, cl maintain OUTPERFORM with target price $4.90
SEMBCORP INDUSTRIES, csfb maintain OUTPERFORM with target price $5.20
($6.10)
SEMBCORP INDUSTRIES, dbs maintain HOLD with target price $4.76($4.59)
SEMBCORP INDUSTRIES, gs maintain NEUTRAL with target price $4.90
SEMBCORP INDUSTRIES, mac maintain OUTPERFORM with target price
$5.10($5.25)

SEMBCORP INDUSTRIES, ubs maintain BUY with target price $5.28
SEMBCORP INDUSTRIES, uob maintain HOLD with target price $4.70

STARHUB, cimb remains NEUTRAL with target price $3(from $3.20) EPS for
FY08
and 09 lowered by 9.7% and 7.1%
STARHUB, cl maintain OUTPERFORM with target price $3.25
STARHUB, csfb maintain UNDERPERFORM with target price $2.70
STARHUB, dbs downgrade to FULLY VALUED with target price $2.60($3.10)
STARHUB, ocbc maintain BUY with target price $3.19($3.51)

STRAITS ASIA, dbs maintain BUY with target price $4.77
STRAITS ASIA by gs

SYNEAR, uob maintain BUY with target price $0.72

TSIT WING, ocbc downgrade to SELL with target price $0.24($0.285)

VENTURE, cimb maintain OUTPERFORM with target price $13.42($16.35)
VENTURE, csfb maintain OUTPERFORM with target price $12.70($13.70)
VENTURE, dbs maintain HOLD with target price $11.86($12.81)
VENTURE, kim eng maintain HOLD with target price $11.10
VENTURE, ocbc downgrade to HOLD with target price $11.21($12.84)
VENTURE, ubs downgrade to NEUTRAL with target price $11($14)
VENTURE, uob maintain BUY with target price $13.50

singapore stock market news

CAPITALAND, cimb maintain NEUTRAL with target price $6.15($6.86)
CAPITALAND, citi maintain SELL with target price $5.47($5.79)
CAPITALAND, cl maintain BUY with target price $7.42
CAPITALAND, csfb maintain NEUTRAL with target price $5.16($6.75)
CAPITALAND, dbs maintain BUY with target price $6.10($6.52)
CAPITALAND, ml maintain BUY with target price $7.27
CAPITALAND by ocbc
CAPITALAND, uob maintain BUY with target price $7.15($8.05)

CHINA HONGXING, nom maintain STRONG BUY with target price $0.76

ELEC & ELTEK, daiwa maintain OUTPERFORM with target price US$2.44

GENTING INT, cl initial coverage UNDERPERFORM with target price $0.57

HI-P INTERNATIONAL, philip maintain BUY with target price $0.72

JARDINE CYCLE, gs maintain BUY with target price $21.30($20.40)

JADASON, cimb downgrade to UNDERPERFORM with target price $0.08($0.13)

JARDINE MATHESON, citi downgrade to SELL with target price
US$31(US$34.75)
JARDINE MATHESON, cl maintain OUTPERFORM with target price US$35.07

JARDINE STRATEGIC, citi downgrade to HOLD with target price
US$19.40(US$20.50)

KEPPEL LAND, ubs downgrade to NEUTRAL with target price $4.80($8.89)

KINGBOARD COPPER FOIL, cimb maintain OUTPERFORM with target price
$0.465
($0.455)

MAP TECHNOLOGY, dbs downgrade to HOLD with target price $0.48($0.55)

MIDAS, csfb maintain OUTPERFORM with target price $0.95($1.30)

ROTARY ENGINEERING, ocbc resuming coverage BUY with target price $1.13

SINGTEL, dbs maintain HOLD with target price $3.70($3.75)

SINOTEL, uob maintain BUY with target price $0.43

SINO TECHFIBRE, dmg maintain BUY with target price $1.08

STARHUB, cimb maintain NEUTRAL with target price $3.20

BANK by dbs

singapore stock market news,singapore stock market

ALLGREEN, cimb upgrade to OUTPERFORM with target price $1.20($1.35)
ALLGREEN, cl maintain SELL with target price $0.96($1.15)
ALLGREEN, csfb maintain NEUTRAL with target price $1.01($1.46)
ALLGREEN, db maintain HOLD with target price $1.40
ALLGREEN, dbs maintain BUY with target price $1.25($1.66)
ALLGREEN, gs maintain NEUTRAL with target price $1.12($1.16)
ALLGREEN, ms maintain OVERWEIGHT with target price $1.45
ALLGREEN, ssb remains a BUY with target price $1.16
ALLGREEN, ubs maintain BUY with target price $1.35($1.46)
ALLGREEN, uob kay hian remains a BUY with target price $1.55(from
$1.65)

CAPITALAND, gs maintain NEUTRAL with target price $6.40($6.80)
CAPITALAND, ubs maintain BUY with target price $7($8.20)

CHINA MERCHANT, dbs maintain BUY with target price $1.10

DAIRY FARM, jpm maintain NEUTRAL with target price $5.36($4.72)

DEL MONTE, db maintain BUY with target price $0.90

GOLDEN AGRI, ubs initial coverage SELL with target price $0.67

HONG KONG LAND,  csfb downgrade to NEUTRAL with target price
$4.20($4.80)
HONG KONG LAND, jpm downgrade to NEUTRAL with target price $4.40
HONG KONG LAND, mac maintain OUTPERFORM with target price $4.70
HONG KONG LAND, ml maintain UNDERPERFORM with target price $4
HONG KONG LAND, ubs maintain BUY with target price $7.60($8.40)
HONG KONG LAND, uob maintain BUY with target price $4.78

INDOFOOD AGRI, ubs initial coverage NEUTRAL with target price $2.01

KEPPEL CORP, cimb maintain OUTPERFORM with target price $13.30($13.70)
KEPPEL CORP, citi maintain BUY with target price $12.97
KEPPEL CORP, cl maintain OUTPERFORM with target price $12.30($12.40)
KEPPEL CORP, csfb maintain UNDERPERFORM with target price $9.80($10.30)
KEPPEL CORP, dbs maintain HOLD with target price $12.30($12.56)
KEPPEL CORP, gs remains a BUY with target price $13.20
KEPPEL CORP, jpm maintain OVERWEIGHT with target price $16
KEPPEL CORP, ms maintain EQUAL-WEIGHT with target price $12.50
KEPPEL CORP, nom maintain BUY with target price $13.78
KEPPEL CORP by ocbc
KEPPEL CORP, ubs maintain BUY with target price $14($15)
KEPPEL CORP, uob maintain BUY with target price $12.30

MACQUARIE MEAG PRIME REIT, daiwa maintain OUTPERFORM with target price
$1.23($1.27)
MACQUARIE MEAG PRIME REIT, mac maintain BUY with target price $1.47
MACQUARIE MEAG PRIME REIT, ml maintain BUY with target price $1.37

MANDARIN ORIENTAL, lehman maintain EQUAL-WEIGHT with target price $2.07
($1.92)

PACIFIC ANDES, ocbc maintain BUY with target price $0.8

SINGAPORE POST, ubs upgrade to BUY with target price $1.17($1.15)

SUNTEC REIT, daiwa maintain OUTPERFORM with target price $1.91($1.82)

WILMAR, gs maintain BUY with target price $6.20

Singapore stock market

CAMBRIDGE INDUSTRIAL TRUST, ml maintain UNDERPERFORM with target price
$0.66

CAPITACOMMERCIAL TRUST, daiwa maintain OUTPERFORM with target price
$2.50
($2.43)

CAPITALAND, ubs maintain BUY with target price $8.20

CHARTERED SEMICON, citi maintain SELL with target price $0.7($0.90)
CHARTERED SEMICON, ubs maintain NEUTRAL with target price $0.65($0.85)

GALLANT VENTURE, ocbc maintain BUY with target price $0.94

K-REIT ASIA, citi maintain HOLD with target price $1.40($1.43)
K-REIT ASIA, cl maintain UNDERPERFORM with target price $1.23
K-REIT ASIA, dbs maintain BUY with target price $1.61($1.69)
K-REIT ASIA, nom maintain STRONG BUY with target price $1.89
K-REIT, ml maintain UNDERPERFORM with target price $1.38
K-REIT ASIA, ubs maintain NEUTRAL with target price $1.47
K-REIT ASIA, uob maintain BUY with target price $1.67($1.69)

LIAN BENG, wc downgrade to HOLD with target price $0.255

PARKWAY LIFE REIT, ubs maintain BUY with target price $1.73($1.84)

RAFFLES MEDICAL GROUP,  cimb maintain UNDERPERFORM with target price
$1.19
RAFFLES MEDICAL GROUP, csfb maintain OUTPERFORM with target price $1.80
RAFFLES MEDICAL GROUP,  dbs maintain BUY with target price $1.51($1.74)
RAFFLES MEDICAL GROUP, uob maintain BUY with target price $2.14($2.27)

SIA, citi maintain SELL with target price $13
SIA, csfb maintain OUTPERFORM with target price $19
SIA, jpm maintain NEUTRAL
SIA, ml maintain UNDERPERFORM with target price $13.30
SIA, ms maintain OVERWEIGHT with target price $18
SIA, nom maintain NEUTRAL with target price $17.28
SIA, ubs maintain BUY with target price $19.50($19)
SIA, uob maintain SELL with target price $14.30

SINGPOST, gs maintain BUY

STARHUB, citi maintain BUY with target price $3.20($3.30)

YANLORD, jpm downgrade to NEUTRAL with target price $2.20