The coming few years could be transformational for Cambridge REIT (CREIT). With a number of its the master leases rolling off, we believe it is an opportune time for CREIT to relook at potential re-development or asset enhancement plans within its portfolio, which based on estimates, can reap a further 2.6m sqft GFA. This is a potential 35% expansion in rentable space, which could raise rental income by up to c44%. The potential collective sale of Lam Soon Industrial Buidling (LSB) if completed is likely to unlock substantial gains for CREIT, which currently own a 69.2% stake in the property. Our base case scenario of a collective sale, assumes a fair value of S$277m for LSB, implying an attributable profit of S$82.3m (S$0.07 / unit) for CREIT. Maintain BUY, TP raised to S$0.93 (Prev S$ 0.75).

URA's overall private home price index inched up 0.5% quarter on quarter in Q1, a slower rise than Q4's 1.8% increase, in the face of the cooling measures. Price index for non-landed private homes in Outside Central Region still managed to rise 1.7% quarter on quarter in the first quarter, though this was a much slower pace of increase compared with the 3.8% jump seen in Q4. The increase for Core Central Region (which includes Singapore's choicest residential locations) too slowed to 0.4% in Q1, from a 0.7% rise in Q4. In Rest of Central Region (which refers to city-fringe locations), the index was flat in the first quarter after climbing 0.9% in Q4.

Meanwhile, resale HDB flat prices grew at the slowest pace in a year in the first quarter of 2013, as demand adjusted to a slew of property measures. The Resale Price Index grew 1.2% to 205.4 from the previous quarter, when it rose 2.5%. This is the slowest rate of increase since the first quarter last year, when the index gained 0.6%.

The Singapore Exchange (SGX) has given F&N until April 18 to state its listing intentions. SGX will convert the stock's trading halt into a suspension starting on April 19.

HPH Trust said its Hong Kong unit, Hongkong International Terminals (HIT), saw a fifth day of demonstrations by port workers demanding a pay rise from stevedoring contractors. These port workers are not employees of HIT. Terminal operations are still on-going but truck traffic has slowed. We do not see any material impact on HPHT at this point in time, unless the demonstrations drag on.

euNetworks Groupis proposing to undertake a share consolidation of every 50 shares into one consolidated share.

Otto Marineannounced that its shipyard has sold a Multi-purpose Field Support and ROV Support Vessel to RY Offshore for about US$50m. Upon completion of the sale, the Buyer will charter the vessel to the Company's subsidiary, Go Marine Group.

China's official purchasing managers' index picked up steam in March but missed market expectations. The official PMI came in at 50.9 last month - an 11-month high - compared with 50.1 in February. Meanwhile, the PMI compiled by Markit and investment bank HSBC stood at 51.6, in line with a preview published last week. The rebound in PMI last month was led by increasing new orders as demand improved, driven by exports and investment.

US markets ended moderately lower after March ISM manufacturing came in lower-than-expected 51.3 (consensus 54) but still staying in expansion territory. The latest March ISM figure pulled the reading back to December 2012 levels. The current week will be a data heavy week that ends with the March jobs numbers. Consensus expects non-farm payrolls to dip to 199k from the February's reading of 236k while the unemployment rate holds steady at 7.7%.