STOCKS NEWS SINGAPORE-UOB Kay Hian raises target on StarHub

Sun Apr 8, 2012 10:48pm EDT

UOB Kay Hian increased its price target on Singapore's second biggest telecom firm StarHub Ltd to S$3.25 from S$3.09 and maintained its hold rating.

StarHub shares were up 1 percent at S$3.16, having risen 8.6 percent so far this year and underperforming the broader index.

The brokerage tweaked its revenue forecasts based on an anticipated faster pace of growth for fixed network services.

It expects revenue to grow 20.9 percent for 2013 versus a previous estimate of 14 percent and 19.1 percent for 2014 versus a previous estimate of 13.6 percent, assuming StarHub secures 15 percent of the market outside Singapore's central business district within two years.

UOB also said StarHub offered an attractive dividend yield of 6.4 percent.

1047 (0247 GMT)

(Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com)

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9:49 STOCKS NEWS SINGAPORE-TT International jumps on Lucrum deal

Shares of Singapore's TT International Ltd surged more than 30 percent after the company signed a S$200 million ($159 million) agreement with private equity real estate firm Lucrum Capital for a warehouse retail project in the city-state.

TT International trades consumer electronics and also provides warehousing and logistics services.

TT International shares were up 34 percent at S$0.067 on volume of more than 38 million shares, about 9 times the average full-day volume traded over the past 30 days.

The shares have jumped more than 640 percent so far this year. In January, TT International said Lucrum Capital had proposed to invest at least S$200 million in the Big Box project in Jurong, western Singapore.

"This project is quite promising because Jurong is being developed as a commercial hub in Singapore. This announcement is positive because they have secured a partner," said Wilson Liew, an analyst at Maybank Kim Eng.

For a related company statement, click: link.reuters.com/sek57s

0944 (0144 GMT)

(Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com)

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8:47 STOCK NEWS SINGAPORE-Singapore index futures fall

Singapore index futures are 0.9 percent lower early on Monday, indicating a weak start for the benchmark Straits Times Index.

Asian shares fell on Monday as a sharp slowdown in U.S. jobs growth raised concerns about the strength of the world's largest economy, making investors cautious ahead of more U.S. data and earnings as well as figures from China due this week.

0845 (0045 GMT)

(Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ($1 = 1.2590 Singapore dollars)

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