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ASEAN STOCK WATCH Asean Affairs  26 February 2014 


26 February 2014

The Straits Times Index (STI) ended -15.37 points lower or -0.50% to 3088.25, taking the year-to-date performance to -2.42%.

The FTSE ST Mid Cap Index declined -0.16% while the FTSE ST Small Cap Index declined -0.10%. The most active stocks were DBS (-1.44%), UOB (-0.67%), SingTel (-0.27%), Wilmar (+0.29%) and OCBC Bank (-0.83%). The first four of these five stocks were also among the five most active yesterday.

The outperforming sector today was represented by the FTSE ST Real Estate Holding & Development Index ( +0.04% ). The two biggest stocks of this key sector index are Hongkong Land ( +0.64% ) and Global Logistic Properties ( -0.71% ). The underperforming sector was the FTSE ST Technology Index, which declined -1.30% with Stats ChipPac share price declining -1.59% and CSE Global’s share price declining -0.78%. The FTSE ST Basic Materials Index declined -0.57% & the FTSE ST Financials Index declined -0.49%.*

The three most active Exchange Traded Funds (ETFs) by value today were the SPDR Gold Shares (+0.43% ), DBXT CSI300 ETF ( -1.55% ) and SPDR STI ETF ( -0.64% )

The three most active Real Estate Investment Trusts (REITs) by value were CapitaMall Trust ( +0.53%), Ascendas REIT ( -0.46% ) and Suntec REIT (-0.30% )

The most active index warrants by value today were HSI22400MBePW140328 ( -10.00% ), HSI22000MBeCW140328 ( +8.94%) and HSI22800MBeCW140328 (+9.62%).

The most active stock warrants by value today were DBS MB eCW140604 ( -18.07% ), UOB MB eCW140701 ( -8.39% ) and KepCorp MBeCW140603 ( -3.54% ).

Singapore Stock Market
                                Wednesday                    Tuesday
*ST Index               3,088.25  -15.37       3,103.62  -2.22
Volume:                       1,913.2M                 2,118.1M
Value:                           $955.2M               $1,024.7M
Gainers/Losers:              195/243                    202/221


Daily Market Commentary (Securities)
26 Feb 2014

The FBM KLCI index lost 11.20 points or 0.61% on Wednesday. The Finance Index fell 0.92% to 16403.93 points, the Properties Index dropped 0.35% to 1305.06 points and the Plantation Index down 1.27% to 8710.45 points. The market traded within a range of 8.72 points between an intra-day high of 1831.27 and a low of 1822.55 during the session.

Actively traded stocks include MAS, MINETEC, NEXGRAM-WB, TIGER-WB, KNM-WA, NEXGRAM, SALCON-WA, IRIS, PDZ and SONA-WA. Trading volume decreased to 2449.74 mil shares worth RM2375.37 mil as compared to Tuesday’s 2863.49 mil shares worth RM2056.49 mil.

Leading Movers were PETGAS (+14 sen to RM23.54), PETDAG (+34 sen to RM30.64), MISC (+6 sen to RM6.36), HLBANK (+14 sen to RM14.20) and PPB (+10 sen to RM16.20). Lagging Movers were CIMB (-20 sen to RM6.90), IOICORP (-17 sen to RM4.56), SIME (-12 sen to RM9.10), MAYBANK (-8 sen to RM9.65) and TENAGA (-8 sen to RM11.94). Market breadth was negative with 291 gainers as compared to 558 losers.

The KLCI ended 11.20 points lower at 1822.55 mainly due to declines in CIMB and IOI Corp. The performance of our benchmark was in line with US market and other regional market, amid concerned on currency policies in China.


Thai bourse welcomes electrical appliance distributor brand AJ

BANGKOK, February 26, 2014 - The Stock Exchange of Thailand (SET) welcomes Crown Tech Advance PCL on its main board, the first new SET listing in 2014, on February 27, under the ticker symbol "AJD," having raised THB 250 million (approx. USD 7.68 million) via initial public offering (IPO).

SET Executive Vice President Chanitr Charnchainarong said that AJD would be  listed in SET's Home and Office Products sector. It was glad that SET had been a fundraising source to match financial opportunity for AJD, enabling it to grow effectively despite the economy's slowing growth.
AJD imports and distributes electrical appliances under the brand of "AJ."  Product lines consist of Audio and Visual products, which are DVD players,
audio, speakers, home theaters, and karaoke players; and Home Appliances, which are mobile air conditioners, refrigerators, washing machines, and hot water bottles. All AJD electrical appliance products are imported, then distributed mainly through Modern trade stores.
AJD has a paid-up registered capital of THB 300 million, consisting of 500  million existing and 100 million newly-issued shares, with a par value of THB 0.50 each. The company offered the newly-issued shares through an IPO at THB 2.50 per share on February 20-21, and 24, for a total of THB 250 million. Finnex Advisory Co., Ltd. is the company's financial advisor and RHB OSK Securities (Thailand) pcl is the lead underwriter.
Amorn Meemano, Managing Director of AJD, said, "We are very pleased to list on  SET, and will make the AJ brand stronger and earn a reputation for quality and reasonable price. Fund raised will be used for working capital and expansion."
AJD's three major shareholders after the IPO are the Amorn Meemano group  (47.41%), Pipat Patiwetpinyo group (27.17%) and the Sompoch Burapasakul and Anek Pattanasadit groups (3.67% each). The IPO price had a price-to-earnings ratio of 47.61 times, calculated using net profits over the past four quarters (from the fourth quarter of 2012 to the third quarter of 2013), divided by the number of fully-diluted shares, representing earnings per share of THB 0.053. AJD's dividend policy is to pay no less than 40 percent of net profits after taxes and  reserves.

Trading Summary

As of  26 February 2014         Unit: M.Baht
Type                          Buy                    Sell              Net        
Institution               2,118.50           1,845.06         273.44     
Proprietary            2,415.97           1,902.12         513.85     
Foreign                  5,917.87           7,098.78     -1,180.91     
Individual               9,564.52           9,170.90         393.62     
Total Trading Value     20,016.86 M.Baht     


Vietnam index ends up 0.6 pct, banks lend support

Vietnam's benchmark VN Index  climbed 0.62 percent to close at 589.81 points on Wednesday, supported by positive sentiment and gains in the
banking sector, along with the arrival of new investors, analysts said.

Almost all banks advanced, led by Hanoi-based lender Vietcombank  with shares rising 3.06 percent. VietinBank , Vietnam's second-largest bank by assets, increased 1.8 percent while Sacombank  gained 1.83 percent.

The index is on an upward trend, with good volume and new investors coming to the market, including those who shifted funds from bank deposits due to lower rates, analyst Nguyen Hoai Nam at Maybank Kim Eng Securities said.

The index has risen around 17 percent this year.

Volume on the Ho Chi Minh Stock Exchange, Southeast Asia's best performer in 2013, has jumped 36.3 percent since the start of 2014 from a year ago to 3.49 billion shares, based on the exchange's data.

    Here is a snapshot of the VN Index  at the close

                        VN Index       589.81             
              PREV. CLOSE        586.2             
                  % CHANGE        0.62%             
                     HIGH       590.79             
                      LOW       582.96             


SE Asia Stocks-Most fall; Bangkok violence weighs on Thai shares

Thai shares eked out slim gains on Wednesday as investors bought banking shares in a dividend reporting season while stocks in Indonesia and most regional bourses slid as concerns over opaque policy moves in China kept investors on edge.

After a range-bound session, Bangkok's SET index  ended up 0.06 percent at 1,304.62. Gainers included Siam Commercial Bank, which announced an attractive dividend early in the week.  

Shares of Advanced Info Service  and Shin Corporation  erased earlier gains amid a call by anti-government protesters to boycott businesses linked to Prime Minister Yingluck Shinawatra.  

Trading volume at the Thai bourse was relatively weak after political violence in downtown Bangkok almost every night this week.  

Singapore's Straits Times Index  fell for a second session, ending down 0.5 percent at its lowest close in almost one week, while Jakarta's composite index  shed 1 percent, a third session of fall, to a near two-week low.

Malaysia retreated 0.6 percent, led by an 8.5 percent drop in shares of budget carrier AirAsia X Bhd  after announcing a net loss in its fourth quarter. 
Fund flows in the region were mixed, with Malaysia recording net foreign sales 50 million ringgit ($15.24 million) and the Philippines reporting a net foreign buying of 212.9 million peso ($4.77 million), stock exchange data showed.
 Market                          Current       Prev Close      Pct Move
 TR SE Asia Index*         394.53            394.98           -0.11
 Singapore                     3088.25          3103.62           -0.50
 Kuala Lumpur               1822.55          1833.75           -0.61
 Bangkok                       1304.62          1303.88          +0.06
 Jakarta                          4532.72          4577.29           -0.97
 Manila                           6322.60          6295.55          +0.43
 Ho Chi Minh                    589.81           586.20           +0.62

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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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