Z-Obee (Update). Z-Obee warned investors that its dual-listing in HK might not materialise and has plans instead to issue 78million new shares with pricing still not known. This comes in response to HKSE's recent ruling that they are putting a stop to dual-listing via introduction due to the huge volatility of China XLX share price during the first day of trading on the HKSE.
Genting (Maintain Trading Buy) CIMB maintained its Buy call on Genting International. With the soon to open Resorts World, the novelty effect is expected to be strong with a target price ofS$1.50. Resorts World has confirmed that its first phase will commence on 20 Jan, starting with 4 hotels. With Marina Bay Sands slated to be open only in Jun 2010, Resorts World will be the only casino in Singapore for three months.
AusGroup (Maintain Buy). OCBC Investment research maintained its buy call on Ausgroup but warned on the need to keep a lookout for future outlook including big projects like the Gorgon LNG project which Ausgroup is tendering for. Fair value is priced at S$0.78
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