Stocks and factors to watch:
-- CITY DEVELOPMENTS <CTDM.SI>
- City Developments, Southeast Asia's second largest
developer, posted a 50 percent drop in first-quarter net profit
to S$83.1 million ($57 million), but said economic conditions
have improved and it expects to make profit this year.
[ID:nSIN461056]
JPMorgan on Tuesday downgraded CityDev to "neutral" from
"overweight", saying the share price has risen too much.
-- KEPPEL CORP <KPLM.SI>
- Deutsche Bank on Tuesday reiterated its "buy" call on
Keppel Corp, the world's biggest maker of offshore oil rigs, and
raised its price target to S$9.40 from S$7.10. [ID:nSGC001131]
-- SEMBCORP MARINE <SCMN.SI>
- Singapore's Sembcorp Marine, the world's number two
builder of offshore oil rigs, said on Monday its Indonesian unit
secured a S$230 million ($158 million) contract for the
construction of two offshore platforms. [
-- YANLORD LAND GROUP LTD <YNLG.SI>
- Yanlord reported on Tuesday a 161 percent increase in
first quarter net profit to S$24.3 million ($16.66 million) from
a year ago, mainly on the delivery of higher-profit-margin
projects. [ID:nSN5C20011]
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