The management of Petra Food is guiding for 4Q12 loss arising from continued market weakness and exceptional charges in its Cocoa Ingredients (CI) division. This will not affect the proposed disposal of CI business to Barry Callebaut for US$950m. We have trimmed FY12F earnings by c.39% to factor in these exceptional items, but have kept FY13F/14F intact. While we remain positive on prospects for its Branded Consumer division, Petra's share price has rallied by c.20% since our upgrade in Dec12. Downgrade to HOLD, and would prefer accumulation at lower price levels. TP unchanged at S$3.97.

StarHub's 4Q12 earnings were 22% ahead of consensus estimates due to lower than expected handset subsidies. FY13F/14F earnings were raised by 8%/6% on lower subsidies and growth in digital voice home services revenue. Maintain BUY with higher TP of S$4.30 (Prev S$ 4.00). COO Mr. Tan Tong Hai will be the new CEO by end Feb 2013. Mr. Tan had successfully turned around Singapore Computer Systems and Pacific Internet in his previous roles.

3QFY13 net profit of S$142.5m for SIA was in line with market expectations but below ours. This is a relatively weak performance for SIA's traditional peak period as weak yields persist in its core passenger Business. Outlook remains challenging as demand for premium travel is likely to stay tepid. Maintain HOLD and S$11.20 TP (1x P/BV).

3Q13 results for Biosensors16% below expectations as Terumo sales disappoints again. We are more optimistic on Biosensors impending acquisition than 3Q13 results. Binsensors announced two weeks ago that it raised S$300m from 4.875% semi-annual fixed rate notes due 2017. Maintain BUY with higher TP of S$1.71 (Prev S$ 1.41). There is immediate resistance at S$1.35 to S$1.40.

2Q13 results for Jayais below expectations, drag by impairment charge; otherwise, it was a good quarter. Jaya has also declared interim DPS of 0.5 Scts. The resumption of dividend is earlier than expected. FY13F earnings cut by 19% on impairment charge and expectation of a weaker 3Q; FY14F is intact. Stay invested for the longer term recovery; maintain BUY, TP S$0.85.

FY12 results for CapitaMall Asia slightly ahead of our expectations on across-the-board operational improvement. We expect accelerated earnings growth momentum as operational assets ramp up. Maintain Buy, TP S$2.30.

2Q13 results for Amtekbroadly in line with ours but below consensus. Interim DPS of 1.3Scts was declared, largely in line. Maintain FULLY VALUED and S$0.46 TP. We see downside to consensus earnings.

Ascott Residence Trust recently completed a private placement exercise, which boosted its acquisition kitty by an additional S$150m. We believe that proceeds will be utilised towards value accretive and yield enhancing acquisitions. We now factor in S$300m worth of acquisitions (@ 6.0% yield) in our forecasts, assuming a target post acquisition gearing of c39%. We estimate that every additional S$50m in acquisitions will raise gearing by 1 ppt, and DPU estimates and our TP by c.1%-1.5%. Maintain BUY, TP raised to S$1.53 (Prev S$ 1.49) after factoring in acquisitions.

SembCorp Marinehas secured an LOI for an EPC contract of the Process, Drilling, and Quarters Platform Topsides from Det norske oljeselskap ASA, worth about S$900m. Construction is expected to commence in December 2013, with completion in March 2016. This order is SMM's maiden win for FY13, for which we have assumed order wins of S$5bn for the full year.

No decision has been made on whether Virgin Australia's proposed acquisition of a 60% stake in Tiger Australia could proceed. A takeover of Tiger Australia by Virgin Australia could "mute" competition in the Australian domestic market and create a duopoly, according to the Australian Competition and Consumer Commission (ACCC). Both Tiger Australia and Virgin have responded to the ACCC's statements, saying that they strongly believe the deal will help improve and promote competition, resulting in more low cost flights and continuing to benefiting consumers.

ASTI Holdings is expected to report a net loss for FY12, mainly due to impairment losses, decrease in gross profit margin and losses from its newly acquired subsidiary.

China Sports is expected to report weaker 4Q12 results as compared to 4Q11.

Source: DBSV