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ASEAN STOCK WATCH Asean Affairs   17  February 2011

ASEAN to Head to Record Highs

Shayne Heffernan

Asean markets will begin to head back towards record highs in the coming months after solidification of a global rebound.

We are looking to see more gains in Bangkok today and Shayne Heffernan’s best buys are:

TMB, Thai Military Bank

UVAN, Uvanich

IVL, Indorama Ventures

PTTEP, PTT Exploration

In Bangkok Yesterday The Stock Exchange of Thailand (SET) composite index went up 13.58 points or 1.40% to close at 982.07 points at the end of trading session on Wednesday afternoon. The trade value was 33.25 billion baht.

Top five most active yesterday were:

SCB closed at 101.50 baht up 3.50 baht (3.57 percent)

PTTAR closed at 39.75 baht, up 1.75 baht (4.61 percent)

PTTCH closed at 147.50 baht, up 4.50 baht (3.15 percent)

PTT closed at 329.00 baht, up 3.00 baht (0.92 percent)

TOP closed at 72.50 baht, up 3.25 baht (4.69 percent)

In Kuala Lumpur, Malaysia the index gained 0 .97 points or 0.06 percent on Wednesday.

Best buys for Thursday from Shayne Heffernan are CIMB (-10 sen to RM8.10), MAYBANK (-7 sen to RM8.47), PBBANK (-10 sen to RM13.00), MAXIS (-4 sen to RM5.40) and AMMB (-3 sen to RM6.24).

Yesterday the market traded within a range of 10.88 points between an intra-day high of 1506.31 and a low of 1495.43 during the session.

Actively traded stocks include DUTALND-WA, ASB, JOTECH-WA, JOTECH, KBUNAI, ASB-LA,LIONCOR, TANCO, SKPRES and RAMUNIA. Trading volume decreased to 1878.09 million shares worth RM2028.93 mil as compared to Monday’s 1978.39 million shares worth RM1865.80 million.

The Winners yesterday were IOICORP (+13 sen to RM5.71), AXIATA (+4 sen to RM4.99),BAT (+76 sen to RM47.00), HLBANK (+17 sen to RM9.40) and MISC (+6 sen to RM8.30). Market breadth was negative with 342 gainers as compared to 493 losers.

In Manila yesterday the Philippine Stock Exchange index added 21.26 points, or 0.56 percent, to finish at 3,812.04.

Today Ayala, San Miguel and Aboitiz look like great buys.

The recovery is being led by the property sector, which surged 1.87 percent. The services and mining/oil counters traded in the red.

Investors’ buying oversold stocks will lift the index again today.

The Finance Index fell 0.46 percent to 13560.52 points, the Properties Index dropped 0.30 percent to 1122.99 points and the Plantation Index rose 0.89 percent to 7932.04 points.

In Jakarta the JCI was up slightly on Wednesday, adding 0.02 points to 3,416.79 after being closed on Tuesday for a national holiday.

For tomorrow the best buys are Adaro Energy

Adaro Energy, Indonesia’s second-biggest coal producer, lost 2.1 percent to Rp 2,375 and looks set to rebound after a better day in Oil Prices.

Astra Agro Lestari, the nation’s largest listed plantation company, lost 3 percent to Rp 22,300. A rally in rubber prices this week should lift Astra and it looks like one of the best buys today.

Matahari Putra Prima, Indonesia’s largest retailer by market value, rose 17.4 percent to Rp 1,690. The company announced on Wednesday that its shareholders approved a cash dividend of Rp 4.5 trillion, and speculation is rife that Wal-Mart is interested in a partnership with Matahari.

Bank Rakyat Indonesia, the nation’s second-biggest lender by assets, climbed 2.2 percent to Rp 4,750. Shares rose after the bank said it may sell subordinated bonds in the second half of this year to boost lending.

The rupiah strengthened to 8,892 against the dollar on Wednesday, up from 8,910, as global funds boosted holdings of Indonesian assets. The currency has gained 1.7 percent this month.

Shayne Heffernan Strong Buy Neptune Orient Lines reported a net profit of US$177 million in the fourth quarter, as the companys container shipping line continued to attract better freight rates and volumes.

This reversed a US$211 million loss in the same period a year ago.

Neptune the world’s 7th largest container shipping line also reported a full year net profit of US$461 million, overturning a US$741 million loss in 2009.

Full year total revenue rose to a record high US$9.4 billion, a 45 per cent increase from the year before.

The results complete a dramatic turnaround for the shipping line last year from the global recession.

“Strong demand from shippers and rate increases in our major trade lanes helped drive the turnaround,” said chief executive Ron Widdows.

Shayne Heffernan has affirmed his strong buy on Neptune Orient Lines Ltd. SIN:N03 as Singapore container traffic grew 10 percent in 2010 from the previous year.

Throughput for 2010 was 28.4 million TEUs (twenty-foot equivalent units), according to advance estimates shared by Singapore’s Minister of Transport Raymond Lim at the Singapore Maritime Foundation’s New Year Cocktail reception on Thursday.

Recent reports out of China suggested that this would move Singapore off the top spot as the world’s biggest container port.

According to the reports which cited unnamed city officials, Shanghai handled 29.05 million standard containers in 2010, edging past Singapore.

But as cargo volumes pick up and container freight rates stabilize, the outlook for port activities in Singapore is bright.

“As a major transhipment hub, we are well positioned to capitalize on the growth momentum in Asia. Singapore also remains the world’s top bunkering port. Our total bunker sale in 2010 reached a new record high of 40.9 million tonnes. This is an increase of 12.3 per cent from last year,” said Mr. Lim.


Shayne Heffernan brings more than 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over US$500m and 1 that reach a peak market cap of US$15billion. He has managed and overseen start-ups in Mining, Shipping, Technology and Financial Services.


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