SINGAPORE - Stay up to date on market chatter with our picks of the latest broker research reports, compiled by The Straits Times Money Desk.

1. United Engineers

Broker: CIMB

UE's 68.2%-owned subsidiary, UE E&C, received a pre-conditional voluntary offer of $1.25 per share in cash. If the offer is accepted, we estimate that UEM will benefit from lower net gearing and higher net asset value.

However, there would be limited impact to our revalued net asset value.

Maintain Hold with a target price of $2.84

2. Yongnam Holdings

Broker: OSK-DMG

Yongnam announced that it has entered into a sale and purchase agreement with RHB Trustees Berhad in its capacity as trustee for Axis Real Estate Investment Trust pursuant to which Yongnam Malaysia has agreed to sell land and a building in Nusajaya, Johor, for $60 million.

Although recovery is expected to be pushed back to financial year 2015, the stock continues to trade at below book value, after factoring in a loss-making year.

Maintain Buy with a target price of $0.27.