DBSV Research is initiating coverage on Religare Health Trust (RHT) with BUY for 10% yield. RHT is an overlooked stock, which offers exposure to the fast growing Indian healthcare market, projected to be 15% CAGR (10-15F). 96% of assets are operational; distribution income is hedged till FY14F, providing assurance in meeting DPU forecasts. Our analyst sees confidence rising as management delivers, with the first distribution (end FYE Mar'13) as a key catalyst. BUY for >30% total return upside. A key risk is the weakening of INR vs SGD; and, we estimate a 1% depreciation will impact DPU by c.1%, all else constant.

Albedo is proposing a renounceable non-underwritten rights cum warrants issue of up to 735.4m new shares at an issue price of S$0.005 for each Rights Share, with up to 735.4m free detachable warrants, each Warrant carrying the right to subscribe for 1 new share at an exercise price of S$0.005 for each New Share, on the basis of four (4) Rights Shares with four (4) free detachable Warrants for each one (1) existing share held. The proposed issue price of S$0.005 represents a discount of approximately 75.0% to the last closing price. The funds raised are expected to improve the Group's working capital position and to fund the growth and expansion of its existing business.

WE Holdings is currently in negotiations with potential investors in relation to a proposed subscription of new shares in the capital of the company.

Harry's Holdingsexpects lower than expected sales for the period from 30 June 2012 to-date, as a result of increasingly competitive environment and inflationary pressure in food prices.

In response to Taiwanese media reports, Dukang Distillers said it has no plan to delist from Singapore and Taiwan and list on the Shanghai Stock Exchange (SSE). Dukang is listed on the Singapore Exchange (SGX) mainboard and trades on the Taiwan Stock Exchange (TSE) through Taiwan Depositary Receipts (TDRs). An article published on Monday in Taiwan's Commercial Times and another in the China Times last week quoted an "internal source" as saying the company might list on the SSE and delist from Singapore and Taiwan due to low market liquidity and fund-raising constraints.

Catalist-listed property developer SingXpress Land announced that Haiyi Holdings will make a mandatory unconditional cash offer for SingXpress shares it does not already own at 1.18 cents per share. The offer comes after Haiyi (owned entirely by a Tang Yigang and his wife) decided to convert all its cumulative non-redeemable convertible non-voting perpetual preference shares (NRCCPS) in SingXpress Land, into ordinary shares that represent 62.17% of SingXpress Land shares on an enlarged basis. SingXpress' Hong Kong parent, Xpress Credit, has irrevocably undertaken not to accept the offer from Haiyi. Xpress Credit currently holds about 2.55 bn shares, representing 19.7% of SingXpress shares on an enlarged basis. Haiyi's offer price is at a 21.3% discount to SingXpress Land's last traded share price and is also a 19.7% discount to SingXpress Land's volume-weighted average price for the past six months.

SGX is discussing with brokers and could have single-stock options in the next 15 to 18 months now that technological constraints have been lifted. The exchange also hopes to gain US recognition as a clearing house within the next couple of months, which will allow US customers to once again add to their positions in Singapore's iron ore swaps market. SGX recently shifted to a new information technology infrastructure that is expected to streamline operations and lower transaction costs.

The mall in the upcoming Westgate development in Jurong East has seen healthy interest a year ahead of its targeted opening in December next year. CapitaMalls Asia (CMA), CapitaMalls Trust and CapitaLand, which own the mixed development through a joint venture, said that to date, about half the retail space has been pre-leased. This is despite rents being generally higher than at CMA's two other Jurong East properties, IMM Building and JCube. Westgate commands rents of $16 to $18 psf pm - at the upper end of the $10 to $18 psf pm for all three properties.and CapitaLand, which own the mixed development through a joint venture, said that to date, about half the retail space has been pre-leased. This is despite rents being generally higher than at CMA's two other Jurong East properties, IMM Building and JCube. Westgate commands rents of $16 to $18 psf pm - at the upper end of the $10 to $18 psf pm for all three properties.

Source: DBSV