SINGAPORE, Jan 30 (Reuters) - Shares of coal miner Straits
Asia Resources (STRL.SI) gained as much as 13.9 percent on
Friday after sources told Reuters that Noble Group is among
commodity companies that are pursuing a bid for the firm.
Noble (NOBG.SI) and Indonesian coal miner PT Indika Energy
Tbk (INDY.JK) are pursuing a deal that could be worth more than
$800 million, according to sources familiar with the matter
[ID:nSEO241840]
"We are anticipating Straits Asia to go up to S$1.10 to
S$1.20 as the news spreads," said a local trader.
By 0712 GMT, Straits Asia Resources rose 12.1 percent to
S$0.925. Noble traded flat at S$1.03.
The benchmark Straits Times Index was down by 1.2 percent.
PARKWAY LIFE REIT
Shares of Parkway Life REIT (PWLR.SI) gained as much as 6
percent on Friday, bucking a weaker market, after it reported
an improved distribution and analysts reiterated their "buy"
recommendations on the property trust.
By 0635 GMT, Parkway Life gained 5.3 percent to S$0.79.
Singapore healthcare firm Parkway Holdings (PARM.SI), which
manages the REIT, rose 3.5 percent to S$1.19.
The benchmark Straits Times Index fell 1.34 percent.
Brokerage firm CIMB maintained its "outperform" rating on
Parkway Life, noting rental income, which is pegged to
Singapore's inflation, is set to grow by at least 6.25 percent
in the 12 months to Aug 22.
Citi, which kept its "buy" rating and raised the price
target to S$1.34 from S$1.29, said Parkway Life did not need to
refinance debt in the next 24 months.
Parkway Life on Thursday reported a 16 percent rise in
distribution per unit for the three months ended Dec 31.
(Reporting by Laurence Tan; Editing by Neil Chatterjee)
