Kencana Agri

Kencana Agri: DBS Vickers downgrades to Hold from Buy, cuts TP to $0.35 from $0.39 after revising down earnings forecast as citing share placement to Wilmar unlikely to affect Kencana's medium-term profitability. 2Q net profit of US$1.2m was significantly below expectations. Wilmar is buying 20% stake in the company for $80.4m. Stock last traded at $0.385.