Stocks in focus

Stocks in focus: * OCBC: record quarterly profit for 3Q12, on a one-time gain from the sale of APB and FNN shares. Excluding the one-time gain of $1.13b, net profit was $724m, which still exceeded Bloomberg consensus estimates at $615m. * Wilmar: 3Q12 net profit rose 26% to $405.8m, beating Bloomberg consensus estimates at $328.3m. * Noble: weak 3Q12 performance, with net profit at US$75m, almost half of Street estimates. The crushing business in China remained weak, and energy margins collapsed sequentially. Seeing a couple houses downgrade the stock this morning. * UOL: Excluding exceptional items, 9M12 core pretax profit was $314.2m, -48% yoy, below Nomura’s forecast. * Venture: 3Q12 results below Street expectations, at $32.4m, -3.3% qoq, -8.4% yoy. * CWT: 3Q12 results in line with consensus, but below Maybank KE Research estimates. * Reits: Nomura says “time to take profit”. Downgrades Suntec, CCT to Neutral, CMT, CDLH Trust to Reduce. * SMRT: Nomura downgrades to Reduce from Neutral, cuts TP to $1.57 from $1.75. Says potentially lower dividend threatens its “defensive yield stock” status. * Biosensors: Deutsche downgrades to Hold from Buy, lowers TP to $1.30 from $1.40, expects growth to moderate. * Tee Int’l: makes first foray into Myanmar’s cement industry, via MOU with Myanmar’s Ayeyarwaddy Cement to develop a fully integrated cement plant. Est total project costs to be btwn $250m- 300m pending completion of technical studies. * City Dev: submits top bid of $135m ($296 psf) for site at Sengkang West Way. * Top Global: SGX approval to migrate from Catalist to Mainboard.