STOCKS NEWS SINGAPORE-CWT up after results, property deal

Shares of CWT Ltd rose as much as 6.2 percent after the commodities logistics firm tripled its first-quarter net profit and announced a sale-and-leaseback agreement for its warehouse facility in Singapore.

CWT shares jumped to S$1.28, a one-month high. Some 1.2 million shares were traded, 2.4 times the average full-day volume traded over the past 30 days. CWT shares have gained about 28 percent so far this year.

"The profit growth traction for CWT has been beyond all expectations but is still not reflected in the share price performance," Maybank Kim Eng Research said and raised CWT's price target to S$2.01 from S$1.70 and maintaining its buy rating.

The company reported net profit of S$26.4 million for January-March, up from S$8.4 million a year ago, driven by its new commodities trading business.

For related stories, click http://link.reuters.com/tyw97s and http://link.reuters.com/wyw97s

1007 (0207 GMT)

(Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com)

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STOCKS NEWS SINGAPORE-Singapore Air Q4 profit seen down 45 pct-poll

Singapore Airlines Ltd (SIA), the world's second largest carrier valued at $10 billion, is expected to report a 45 percent fall in its fourth quarter earnings, a Reuters survey of seven analysts showed.

SIA's earnings have declined in the previous five quarters as weak travel demand, particularly among bankers and executives, and persistently high jet fuel prices hit margins.

The Singapore flag carrier is expected to post a net profit of S$93.5 million for January-March, down from S$171 million a year ago. It reports results after trading hours on Wednesday.

"Key factor here would be pax yields... (and) on the cost side, we expect unit cost to rise yoy due to higher fuel prices and start-up costs from (new budget carrier) Scoot," brokerage UOB Kay Hian, which forecast a quarterly net profit of S$74.6 million, said in a report this month.

SIA's shares have risen by only 4 percent so far this year, underperforming a 11 percent rise in Singapore's benchmark index . Air China is the world's largest carrier with a market value of $12 billion.

0935 (0135 GMT)

(Reporting by Harry Suhartono and Leonard How in Singapore; harry.suhartono@thomsonreuters.com)

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09:35 STOCKS NEWS SINGAPORE-OCBC upgrades OSIM to buy

OCBC Investment Research upgraded massage chair and health products company OSIM International Ltd to buy from hold and raised its price target to S$1.61 from S$1.35.

OCBC expects further earnings traction for OSIM, underpinned by new innovative product launches with different price points and improvement in productivity per store and staff.

Given the better-than-expected performance for OSIM's first quarter, OCBC raised its earnings per share forecasts for 2012 fiscal year by 7.5 percent and for 2013 by 4.9 percent. OCBC said OSIM is steadily raising its profile as a luxury specialty retailer.

OSIM shares were down 2 percent at S$1.23 and have gained 6.5 percent so far this year, underperforming a 14 percent rise in the FT ST Mid Cap index.

http://link.reuters.com/qyw97s

0918 (0118 GMT)

(Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com)

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Singapore index futures gained 0.3 percent early on Tuesday, indicating a higher start for the benchmark Straits Times Index.

Asian shares and riskier assets recovered on Tuesday from the previous day's plunge as sentiment improved on hopes Spain would use public funds to bolster its struggling banks. But wariness remained over Greece.

0844 (0044 GMT)

(Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com)