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ASEAN STOCK WATCH Asean Affairs  26  December  2013 


26 December 2013

The Straits Times Index (STI) ended 7.07 points higher or +0.23% to 3,134.36, taking the year-to-date performance to -1.03%.

The FTSE ST Mid Cap Index gained +0.42% while the FTSE ST Small Cap Index gained +0.95%. The top active stocks were Charisma Energy (+10.81%), Viking (+4.92%), HanKore (+10.20%), DBS (+2.50%) and Albedo (+7.69%).

The outperforming sectors today were represented by the FTSE ST Technology Index (+1.83%). The two biggest stocks of the FTSE ST Technology Index are Liongold Corporation (+10.00%) and STATS ChipPAC (+1.52%). The underperforming sector was the FTSE ST Health Care Index, which declined -1.13% with Biosensors International Group’s price declining -2.20% and Raffles Medical Group’s share price remaining unchanged. The FTSE ST Consumer Goods Index gained +0.49%.

The three most active Exchange Traded Funds (ETFs) by value today were the SPDR Gold Shares (+0.65%), SPDR STI ETF (+0.31%) and iShares MSCI India ETF (-0.67%).

The three most active Real Estate Investment Trusts (REITs) by value were Suntec REIT (+0.33%), CapitaMall Trust (+0.26%) and Ascendas REIT (+0.45%).

The most active index warrants by value today were STI 3050BPeCW140227 (+7.96%), STI 3250MBeCW140430 (+8.89%) and HSI24000MBeCW140129 (-5.26%).

The most active stock warrants by value today were KepCorp MBeCW140203 (-1.56%), DBS MB eCW140502 (-0.70%) and KepCorp MBeCW140401 (+6.31%).

Singapore Stock Market
                               Thursday                 Tuesday
*ST Index          3,134.36  +7.07     3,127.29  +11.07
Volume:                 3,807.4M                1,315.1M
Value:                     $617.7M                 $442.1M
Gainers/Losers:        320/135                   234/106


Daily Market Commentary (Securities)
26 Dec 2013

The FBM KLCI index gained 8.61 points or 0.47% on Thursday. The Finance Index increased 0.42% to 16907.67 points, the Properties Index up 0.18% to 1281.58 points and the Plantation Index rose 0.51% to 8761.7 points. The market traded within a range of 18.01 points between an intra-day high of 1846.49 and a low of 1828.48 during the session.

Actively traded stocks include TIGER, HIBISCS-WA, ASIAPAC, BIMB-WA, BENALEC, MAS, MNC, XDL, HIBISCS and SOLUTN. Trading volume decreased to 905.01 mil shares worth RM818.25 mil as compared to Tuesday’s 925.20 mil shares worth RM758.92 mil.

Leading Movers were PETDAG (+40 sen to RM30.80), HLFG (+30 sen to RM15.62), PPB (+20 sen to RM15.70), FGV (+12 sen to RM4.49) and PBBANK (+10 sen to RM18.92). Lagging Movers were BAT (-50 sen to RM63.50), KLK (-12 sen to RM24.10), HLBANK (-10 sen to RM14.30), ASTRO (-4 sen to RM2.96) and MAXIS (-2 sen to RM7.18). Market breadth was positive with 414 gainers as compared to 338 losers.

The KLCI jumped higher to close at 1844.10 after the trading resumed from the Christmas holiday, tracking the overnight gains in Wall Street and Asian markets as better-than-expected data bolstered optimism about the economic outlook. However, the trading volume remained thin due to lack of participation in the holiday season.


Thai stocks slide after election delay recommended

Thai stocks slipped more than 2 percent on Thursday to their lowest in almost four months following a recommendation by the election commission that a Feb. 2 poll be delayed after violent clashes between police and anti-government protesters.

At 0904 GMT, the benchmark SET index  was down 2.1 percent at 1,304.63, its lowest since Sept. 4. Tourism shares were among the heaviest losers, including Airports of Thailand


Thai bourse lists first telecom infrastructure fund TRUEIF on Dec 27
BANGKOK, December 26, 2013 - The Stock Exchange of Thailand (SET) will list True Telecommunications Growth Infrastructure Fund, with a size of THB 58.08 billion (approx. USD 1.80 billion), on its main board on December 27, under the ticker "TRUEIF,"  the first telecommunication infrastructure fund and the country's third infrastructure fund to list this year.
Chanitr Charnchainarong, SET executive vice president, said that TRUEIF would be trading in the Information and Communication Technology sector. It sold 5,808 million units via initial public offering (IPO) at THB 10 per unit, for a total worth THB 58.08 billion from December 9 to 19. Siam Commercial Bank pcl is the financial advisor, and SCB Asset Management Co., Ltd. is the management company.
TRUEIF invests in the right to the net  revenues from the rental of 5,845 telecommunication towers, core fiber-optic cable grids and related transmission equipment (FOC system), According to HSPA lease agreement in which will expire in 12 years (on August 3, 2025), The fund has the right to buy or transfer some of these assets once the contract expires. TRUEIF also invests the right to 6,000 telecommunication towers (delivery of 3,000 towers due in 2014 and the rest by 2015), FOC system, and broadband service in upcountry areas.
Chotika Sawananon, president of SCB Asset Management, said that TRUEIF enabled  investors to join in the telecommunication infrastructure project and got a secure return from the True Group, which rents, maintains, and manages with the fund for more than 10 years. In addition, the fund may further grow by subletting its infrastructure to other telecommunication service providers. And take profit as the industry grows. Consequently, the fund was well received from  both retail and institutional investors during the IPO period.
TRUEIF has dividend policy and refund to the unit holders as stated in the fund  scheme. The fund's dividend policy is to pay at least twice a year if the fund has sufficient retained profits at no less than 90 percent of the adjusted net profit. The fund's top three unit holders after its IPO are True corporation public company limited (TRUE) 33.24%, The Siam Commercial Bank public company limited (SCB) 9.04% and Beyond Advanced Limited 6.03%

Trading Summary

As of  26  December  2013         Unit: M.Baht
Type                      Buy             Sell             Net
Institution       4,204.00     5,046.07        -842.06     
Proprietary     3,518.27     3,031.50         486.77     
Foreign          3,177.56     5,722.55     -2,544.99     
Individual     15,286.51   12,386.23       2,900.28     
Total Trading Value            26,186.34 M.Baht     


Vietnam index ends higher on buying in large-caps

Vietnam's benchmark VN Index   rose 0.42 percent on Thursday, lifted by buying in large-cap stocks, including PetroVietNam Gas , the country's largest listed firm.

PetroVietNam Gas led the gains with a 2.31 percent rise, followed by real-estate firm Vingroup  , which climbed 1.45 percent.
Hanoi-based lender Vietcombank  also gained 0.75 percent while steel producer Hoa Phat Group  rose 1.76 percent.
Analysts expect the index to fall in the short term due to profit taking in speculative stocks, given no supportive news appears. Penny stocks have boosted the index over the past few weeks, analysts said.

Here is a snapshot of the VN Index at the close

                         VN Index       506.55             
                PREV. CLOSE       504.42             
                    % CHANGE        0.42%             
                     HIGH       507.57             
                      LOW       503.59             


Thai stocks slipped to near four-month lows on Thursday as a recommendation by the Election Commission for a poll delay added to the domestic political risk while others in Southeast Asia posted modest gains in a holiday-thinned session.

The Thai SET index   ended 1.8 percent down at 1,308.46, the lowest since Sept. 4, with foreign investors selling shares worth a net 2.5 billion baht ($76.44 million).

The benchmark nearly broke below a key support of 1,300 at one point amid sell-offs in tourism-related stocks including shares of airport operator Airports of Thailand  and hotelier Central Plaza Hotel.

The Election Commission called for a February poll to be postponed on Thursday after bloody clashes between riot police and anti-government protesters seeking to topple Prime Minister Yingluck Shinawatra and scuttle the ballot.  

Stocks in Singapore and Malaysia gained on resuming trade after the Christmas holiday on Wednesday.

Singapore's Straits Times Index  was up 0.2 percent at 3,134.36, near a three-week closing high. Malaysia's key index   was up 0.5 percent at 1,844.10, moving closer to the record close of 1,850.90 hit on Dec. 17.
Philippine shares  ended up 0.4 percent after the exchange was shut for holidays on Tuesday and Wednesday.

Vietnam's key index   rose 0.42 percent, lifted by buying in large-cap stocks.  

Indonesia was shut for a second day on Thursday and will reopen on Friday.
 Market                          Current     Prev Close    Pct Move
 TR SE Asia Index*         384.64        385.81            -0.30
 Singapore                     3134.36      3127.29           +0.23
 Kuala Lumpur              1844.10       1835.49           +0.47
 Bangkok                      1308.46       1332.45            -1.80
 Manila                          5878.32       5854.88           +0.40
 Ho Chi Minh                  506.55         504.42           +0.42


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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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