Singapore Hot Stocks - 29 Nov 2007

SINGAPORE, Nov 29 (Reuters) - Wilmar International may be in focus on Thursday after Macquarie Research raised its recommendation on the stock and the palm oil firm confirmed it would raise $600 million through convertible bonds.

The Dow Jones Industrial Average notched its biggest percentage gain in four and a half years on Wednesday, after comments by the vice chairman of the Federal Reserve raised expectations for an interest rate cut in December.

Stocks and factors to watch.

- Macquarie Research has raised its rating on shares of Wilmar International to "outperform" from "neutral", citing the stock's current price weakness and strong growth prospects as attractive. [ID:nSGC001477]

- Wilmar International, the world's biggest listed palm oil firm by market value, said it will raise $600 million in convertible bonds due in 2012, confirming an earlier Reuters report. [ID:nSNBT10011]

- Deutsche Bank has upped its rating on shares of United Overseas Bank to "buy" from "hold", citing attractive valuations for the stock and Singapore's second-largest lender's strong capital management. [ID:nSGC001476]

- Morgan Stanley has raised its rating on shares of Southeast Asia's largest developer CapitaLand but cut its price target for the region's second-biggest property firm City Developments (CityDev) to S$13.76 from S$16.09. [ID:nSGC001475]

- Singapore's sole cable television operator Starhub Ltd is selling 27.58 million shares at S$2.90 to S$2.94 each, which may raise as much as S$81 million for the firm, a source close to the deal said. [ID:nSGC001472]

- Ezra Holdings said that its unit has won a $148 million deal to provide vessels for offshore construction work in the Malaysian-Thailand oil and gas Joint Development Area. [ID:nSIN228717]

- Allco Commercial Real Estate Investment Trust, a property trust based on Singapore and Australian assets, has cancelled a planned preferential offering that would have raised up to S$150 million ($104 million), citing poor market conditions. [ID:nSP129280]

- South Korean shipping firm STX Pan Ocean said it plans to buy three bulk carriers for 239 billion won ($256.8 million) from a Chinese company. [ID:nSEO345741]

- SembCorp Marine, the world's second-largest offshore oil rig maker, has lodged a complaint to Singapore's white-collar police over alleged unauthorised trades by a former executive. [ID:nSP268451]

- Temasek Holdings [TEM.UL] sold $255 million worth of shares in China Construction Bank in the second big share sell-down in a Chinese bank this week by Singapore's state investment agency. [ID:nHKG347302]

- Singapore's Straits Times Index inched 0.09 percent lower to 3,369.72 points on Wednesday.

- The Dow Jones Industrial Average surged 2.55 percent to end at 13,289.45. The Nasdaq Composite Index jumped 3.18 percent to 2,662.91.