SINGAPORE (AFX-ASIA) – JP Morgan Asia-Pacific Equity Research has initiated coverage on Total Automation Ltd with an ‘overweight’ recommendation and a fair value of S$0.86 per share. (US$1=S$1.75). However, JP Morgan expects Total Automation’s 2003 earnings to grow by 5.4% year-on-year to S$7.8 million, due solely to the SARS outbreak earlier this year. For 2004,…

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