股海观潮 联明 （Lian Beng） 目标价：67分

（2011-01-18）
早报导读


　　它的2011财年第2季业绩表现超出预期。季度净利年比上升94％到1170万元，集团营收年比上扬89％到1亿3700万元，胜于联昌国际研究的预测，相等于对它作出2011财年预测的64％，主要是比预期好的总盈利率和比预期低的营运成本所带动。它的主要建筑业务、房地产发展和预拌混凝土（ready-mixed concrete）业务都带来比一年前还多的营收贡献，而截至2011财年第2季的现金结余比前季度高出23％到1亿零110万元。

　　基于它的亮眼业绩，联昌国际把对它作出的2011财年和2013财年的净利估计调高19.2％和19.5％之间，并把它的目标价从原本的63分提高到67分，相等于其7.2倍的明年本益比。

　　集团截至2011财年第2季度的订单额为7亿6200万元，而赢得订单的动力依然强劲，相信新加坡经济的好转将对它有利，确保它无论是在公共还是私人领域都能得到不错的需求。联昌国际维持给予它的“买入”评级。

Morningstar 2010 基金评选获奖者名单：

Mutual Fund Award Winners
Best Asian Equity Fund
Winner: Dynamic Far East Value, Dynamic Funds
Silver: BMO Guardian Asian Growth & Income, BMO Investments Inc.
Bronze: Fidelity Far East, Fidelity Investments Canada ULC

Best Canadian Balanced Fund
Winner: TD Monthly Income, TD Mutual Funds
Silver: RBC Monthly Income, RBC Global Asset Management Inc.
Bronze: Dynamic Dividend Income, Dynamic Funds

Best Canadian Dividend & Income Equity Fund
Winner: Dynamic Dividend, Dynamic Funds
Silver: CI Signature Dividend, CI Investments Inc.
Bronze: Bissett Canadian Dividend, Franklin Templeton Investments Corporation

Best Canadian Equity Fund
Winner: Dynamic Value Fund of Canada, Dynamic Funds
Silver/Tie: Beutel Goodman Canadian Equity, Beutel Goodman & Company Ltd. and
Fidelity Canadian Disciplined Equity, Fidelity Investments Canada ULC

Best Canadian Fixed Income Fund
Winner: TD Canadian Bond, TD Mutual Funds
Silver: PH&N Bond, Phillips, Hager & North Investment Management Ltd.
Bronze: Beutel Goodman Income, Beutel Goodman & Company Ltd.

Best Canadian Small/Mid Cap Equity Fund
Winner: Dynamic Small Business, Dynamic Funds
Silver: Beutel Goodman Small Cap, Beutel Goodman & Company Ltd.
Bronze: BMO Guardian Enterprise, BMO Investments Inc.

Best Emerging Markets Equity Fund
Winner: AGF Emerging Markets, AGF Funds Inc.
Silver: Brandes Emerging Markets Equity, Brandes Investment Partners & Company
Bronze: Desjardins Emerging Markets, Fédération des caisses Desjardins du Québec

Best European Equity Fund
Winner: Mackenzie Ivy European, Mackenzie Financial Corporation
Silver: Invesco European Grown, Invesco Trimark Ltd.
Bronze: TD European Growth, TD Mutual Funds

Best Global Balanced Fund
Winner: CI Signature High Income, CI Investments Inc.
Silver: Dynamic Value Balanced, Dynamic Funds
Bronze: Mawer Canadian Balanced RSP, Mawer Investment Management Ltd.

Best Global Equity Fund
Winner: Dynamic Power Global Growth, Dynamic Funds
Silver: Hartford Global Leaders, Hartford Investments Canada Corporation
Bronze: Mackenzie Ivy Foreign Equity, Mackenzie Financial Corporation

Best Global Fixed Income Fund
Winner: Templeton Global Bond, Franklin Templeton Investments Corporation
Silver: BMO Guardian Global Bond, BMO Investments Inc.
Bronze/Tie: Manulife Strategic Income, Manulife Mutual Funds and RBC Global Bond, RBC Global Asset
Management Inc.

Best Global Small/Mid Cap Equity Fund
Winner: Mackenzie Cundill Recovery, Mackenzie Financial Corporation
Silver: Chou Associates, Chou Associates Management Inc.
Bronze: Templeton Global Smaller Companies, Franklin Templeton Investment Corporation

Best Healthcare Equity Fund
Winner: TD Health Sciences, TD Mutual Funds
Silver: CI Global Health Sciences, CI Investments Inc.
Bronze: RBC Global Health Sciences, RBC Global Asset Management Inc.

Best High Yield Fixed Income Fund
Winner: RBC Global High Yield, RBC Global Asset Management Inc.
Silver: Fidelity American High Yield, Fidelity Investments Canada Ltd.
Bronze: AGF Canadian High Yield Bond, AGF Funds Inc.

Best International Equity Fund
Winner: Invesco International Growth, Invesco Trimark Ltd.
Silver: Renaissance International Equity, CIBC Asset Management Inc.
Bronze: Mackenzie Universal International Stock, Mackenzie Financial Corporation

Best Natural Resources Equity Fund
Winner: Dynamic Focus+ Resource, Dynamic Funds
Silver: CI Signature Canadian Resource, CI Investments Inc.
Bronze: Front Street Special Opportunities, Front Street Capital

Best Precious Metals Equity Fund
Winner: Sentry Precious Metals Growth, Sentry Select Capital Corporation
Silver: Dynamic Precious Metals, Dynamic Funds
Bronze: RBC Global Precious Metals, RBC Global Asset Management Inc.

Best Science and Technology Equity Fund
Winner: CI Global Science & Technology, CI Investments Inc.
Silver: BMO Guardian Global Technology, BMO Investments Inc.
Bronze: Mackenzie Universal Technology, Mackenzie Financial Corporation

Best US Equity Fund
Winner: Dynamic American Value, Dynamic Funds
Silver: Dynamic Power American Growth, Dynamic Funds
Bronze: CI American Value, CI Investments Inc.

Best US Small/Mid Cap Equity Fund
Winner: Mackenzie Universal American Growth, Mackenzie Financial Corporation
Silver: Mackenzie Universal US Emerging Growth, Mackenzie Financial Corporation
Bronze: TD US Mid-Cap Growth, TD Mutual Funds