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ASEAN STOCK WATCH Asean Affairs  25 June 2013 

Singapore

25 June 2013

SGX welcomes Goodland Group to Mainboard
Singapore Exchange (SGX) is pleased to welcome the listing of Goodland Group Limited (Goodland) on Mainboard, under the stock code of “5PC”.  

First listed on Catalist in 2009, Goodland is a Singapore-incorporated property developer, principally engaged in residential developments in Singapore. Its property development projects are mainly focused on small to medium sized landed housing and residential apartments. The Group also undertakes construction works for some of their property developments.

Alvin Tan, CEO of Goodland Group, said: “I would like to thank our shareholders, business partners, staff, customers, and other stakeholders for their support and trust in our Group. We believe that our move to the Mainboard has come at an opportune time and will further aid our local and regional expansion as it provides us with a larger platform to propel our future growth strategies.”

Lawrence Wong, Head of Listings, SGX, said: “We are delighted that another of our Catalist companies, Goodland Group, has grown and is  transferring  to the Mainboard, the eighth in the last 12 months. We look forward to them leveraging on this new platform just as they have done on Catalist to grow their business.”

Goodland is one of 40 real estate companies listed on SGX with a combined market capitalization of S$100 billion (US$79 billion).

Market Summary

The FTSE Straits Times Index (STI) ended +15.62 points higher or +0.51% higher to 3,089.93, taking the year-to-date performance to -2.44%.

The FTSE ST Mid Cap Index gained +0.38% while the FTSE ST Small Cap Index declined -0.14%.

The top active stocks were Singtel (+2.00%), DBS (+2.23%), Wilmar (-0.95%), UOB (+1.29%), and OCBC Bk (+1.74%).

The outperforming sectors today were represented by the FTSE ST Technology which gained +2.85%. The two biggest stocks of the Technology Index are Liongold (+4.27%) and Stats ChipPAC (+1.41%). The underperforming sector, FTSE ST Industrials, declined -1.32% with Jardine Matheson Holdings declining -3.17% and Jardine Strategic Holdings declining -1.42%. The FTSE ST Real Estate Index gained +0.02%, the FTSE ST Consumer Services Index gained +0.22% and the FTSE ST Utilities index gained +1.27% .

The three most active Exchange Traded Funds (ETFs) by value today were SPDR GOLD SHARES (-0.04%), DBXT CSI300 ETF 10 (-1.75%) and STI ETF (-0.94%).

The three most active Real Estate Investment Trusts (REITs) by value were Ascendasreit (+1.91%), CapitaComm (-0.35%) and SuntecReit (+1.37%).

The most active index warrants by value today were HSI20400MBeCW130829 (+2.83%), HSI20200MBePW130829 (-12.20%) and STI 3300BPePW130829 (-3.25%).

The most active stock warrants by value today were KepCorp BPeCW131002 (+8.96%), DBS MB eCW130801 (+27.73%), and KepCorp MBeCW130902 (+6.76%).

Singapore                       Stock                   Market
                                    Tuesday                  Monday
*ST Index                3,089.93  +15.62     3,074.31  -50.14
Volume:                        2,140.4M                  2,109.3M
Value:                         $1,636.9M                 $1,470.2M
Gainers/Losers:               191/251                   77/401


Malaysia

Daily Market Commentary (Securities)

25 June 2013

The FBM KLCI index lost 9.55 points or 0.55% on Tuesday. The Finance Index fell 1.12% to 16320.71 points, the Properties Index dropped 0.32% to 1313.79 points and the Plantation Index rose 0.87% to 8231.43 points. The market traded within a range of 19.42 points between an intra-day high of 1743.16 and a low of 1723.74 during the session.

Actively traded stocks include LUSTER, LUSTER-WA, MAS, FLONIC, MAYBANK, LUSTER-WB, TDM, SKPETRO, MALTON and CLIQ-WA. Trading volume decreased to 1599.07 mil shares worth RM2851.64 mil as compared to Monday’s 1670.62 mil shares worth RM3787.63 mil.

Leading Movers were BAT (+128 sen to RM58.30), PPB (+10 sen to RM13.80), IOICORP (+4 sen to RM5.23), TM (+4 sen to RM5.44) and SIME (+3 sen to RM9.43). Lagging Movers were HLBANK (-30 sen to RM13.44), HLFG (-28 sen to RM13.50), UMW (-18 sen to RM14.30), SKPETRO (-16 sen to RM3.86) and MAYBANK (-14 sen to RM10.00). Market breadth was negative with 258 gainers as compared to 531 losers.

The local bourse continued its losing streak eased 9.55 points to close at 1,728.64, a signal that the investors were still fretting about the global uncertainty. Across the board, Financial Index was the biggest drag, slipping 184.22 points. However further loss was curb by gain in Plantation Index which gained 71.04 points attributed by heavyweights IOI, Sime Darby and FGVB. Meanwhile, total trading volume continued to go down further by another 4.3% from yesterday’s trade. The local market jitters were mainly caused by the spectre of China’s economic slowdown and stimulus reduction in the US which has unnerved investors.

Regionally, the bourses continued to weaken and stay in red as the anxiety deepen that China is entering into a bear market amid concern a cash crunch which will curb growth in the world’s second-largest economy. China’s CSI 300 Index, shed 0.3%, extending losses for the fifth day.



Indonesia

Trade Summary

Description            Volume                      Value        Frequency
ETF                         65,500               39,355,500                     51
Stock            4,676,584,708     6,400,197,295,641             188,432
Right                 11,120,930           3,292,862,050                    222
Warrant            115,909,500           6,775,496,500                 1,544
Total             4,803,680,638     6,410,305,009,691             190,249


Thailand

Thai bourse joins brokers in SET-TFEX Online Investor Fair on June 27-30
BANGKOK, June 25, 2013 – The Stock Exchange of Thailand (SET) joins 23 leading securities companies in holding “SET-TFEX Online Investor Fair 2013” under the theme “An Easy Step into Stock Investment with Online Trade,” in the Central World shopping complex, Bangkok, during June 27-30, promoting investment through the use of technology, highlighting seminars, workshops, and the presentation of cutting-edge applications and programs developed by securities companies to speed up and facilitate investment.  More than 6,000 are expected to visit the fair.

Kesara Manchusree, SET Executive Vice President and Head of Markets Division, said that online trading has constantly gained more popularity, with more than THB 4 trillion (approx. USD133.33 billion) worth of online trade by retail investors registered at the end of May 2013.  This represents 54.13 percent of total trading value by retail investors.  There have been 90,316 new online trading accounts opened since the beginning of this year, well ahead of the target of 120,000 new accounts expected for the whole of 2013. As a result, there are currently 537,186 online stock trading accounts, or 61 percent of total stock trading accounts on the Thai bourse.  With such an increase in its popularity, SET has continued to develop new tools to further facilitate online trading and lower transaction costs, against a backdrop of ever-changing technological advancement.

“Investors have opted for online channels to make their lives more convenient. Thus, SET has developed tools and services, such as a streaming online trading program and various websites of the SET group, to cater to investor demand for education, information and trading. We facilitate their access to information, particularly for newcomers, who can learn basic investment from the Your 1st Stock landing page or the Click2Win stock trading simulation, which has both exercises for practice and contests for prizes.  Moreover, the Thai bourse has also joined many securities companies in organizing the Click2Win Campus League, which is expected to attract students from over 10 educational institutions.”

“During June 27-30, SET and its allied securities companies will hold the second “SET-TFEX Online Investor Fair 2013”, under the theme “An Easy Step into Stock Investment with Online Trade”, after the event was well-received by investors past year. This time, the fair will be more special than before, with a complete and in-depth presentation of online investment, with as many as 18 intensive seminars, the TFEX Technical Corner manned by experts from various brokerage firms, and availability of advanced technology and new applications related to investment from all 23 participating securities firms.  Investors are invited to bring their devices to download preferred applications and discuss their uses for free,” Kesara added.

The 2nd SET-TFEX Online Investor Fair 2013 is scheduled during June 27 - 30, from 10:30 a.m. to 8:00 p.m., Eden Zone, 1/fl., Central World shopping complex, Bangkok. The general public and investors are cordially invited to learn about investment opportunities in both securities and derivatives through the latest online trading innovations, while taking part in various investment-related activities during the four-day event, when leading securities companies will stand ready to offer advice to all and special promotions for those opening trading accounts at the fair.

Thai bourse lists CRYSTAL Property Fund on June 27
BANGKOK, June 25, 2013 – The Stock Exchange of Thailand (SET) will list Crystal Retail Growth Leasehold Property Fund, with a size of THB 4.13 billion (approx. USD 137.8 million), on its main board on June 27, under the ticker "CRYSTAL", which is the third property fund listing on the Thai bourse this year.

Paveena Sriphothong, SET Senior Vice President and Group Head, Issuer & Listing, said: “CRYSTAL will be listed and traded under the Property Fund Sector on June 27, as a part of the main bourse’s Property & Construction Industry.  CRYSTAL sold 390 million units via initial public offering (IPO) at THB 10.60 per unit, with total worth of THB 4.13 billion (approx. USD 137.8 million),  between June 7 and 17. SCB Asset Management Company Limited (SCBAM) is the fund manager.”

Jotika Savanananda, President of SCBAM, revealed that “CRYSTAL, invests in the 30-year leasehold rights a portion of land and parts of the buildings, totaling 42,700 square meters, located along Ekamai-Ramindra Road, Bangkok, namely The Crystal, which is a lifestyle community mall, and Crystal Design Center (CDC), a one-stop-shop home decor and design service center. The investment covers the ownership rights of furniture, equipment and all systems within the projects as well as the right to utilize the parking space, which the fund has not invested in. With project manager K.E. Retail Company Limited's property management expertise, CRYSTAL is expecting further growth from adjustment of rental fees and additional investment plans for both The Crystal and CDC.”

CRYSTAL’s dividend policy is to pay at least two times a year, at no less than 90 percent of net profit, excluding unrealized gains from auditing property reappraisals of lease during the related accounting period.

CRYSTAL's top three unitholders after its IPO are KE Land Group 30.48% (Benjakit Development Company Limited 20.48% and Kiat Sahamit Company Limited 10.00%), Social Security Office 10.29% and Muang Thai Life Assurance Public Company Limited 6.75%
 
For more information, please see CRYSTAL’s prospectus at the Securities and Exchange Commission’s website at www.sec.or.th and general information on SET’s website at www.set.or.th

Trading Summary

Type                          Buy              Sell             Net
    
Institution                5,847.88       3,352.70        2,495.17     
Proprietary             10,726.46       9,490.80        1,235.66     
Foreign                  11,877.86      14,009.92      -2,132.06     
Individual               27,078.53      28,677.30      -1,598.77     
Total Trading Value                       55,530.73 M.Baht     


Philippines

The Philippine Stock Exchange

Listed companies' incomes rise by 23 percent in Q1 of 2013

A study by the Philippine Stock Exchange (PSE) reveals that the income growth of listed companies continued in 2013 with their combined profits rising by 23.3 percent to Php163.42 billion during the first quarter of this year from Php132.54 billion in the same period a year ago.  The growth was led by the retail sector, banks, construction, infrastructure and allied services, and the media.  Meanwhile, total revenues of listed companies for the first three months grew by 15.4 percent to Php1.21 trillion from Php1.05 trillion the previous year.

"The phenomenal income performance of listed companies has been the main driver of the stock market?s growth this year while also providing a firm basis for investor optimism on the prospects for listed companies moving forward.  More importantly, we believe that expansion of this magnitude should have contributed in a big way to the impressive growth rate of the economy so far this year," Mr. Hans B. Sicat, PSE President and CEO explained.

The combined net incomes of companies in the retail business grew by 98.1 percent behind robust sales revenues and additional income provided by new store openings and acquisitions.  Meanwhile, profits of banks rose by 97.3 percent during the first quarter as gains from securities trading and interest income surged. Listed firms in the construction, infrastructure and allied services sector posted combined growth profits of 70.0 percent as companies took on more infrastructure projects. The recently concluded national elections also supplied a boost to media companies' advertising revenues, enabling their incomes to rise by 56.6 percent during the same period.

The increase in profits in the first quarter of 2013 follows the similarly impressive 16.6 percent net income growth of listed companies for the full year of 2012.

"The market may have lost ground in the past weeks, but we believe this is a result of an overreaction to global developments. There is a disconnect between good local economic  fundamentals and the short term market psychology. The explanation that investors were reallocating back to developed markets is not exactly accurate, with real movements going from the equities market into cash in a period of high volatility," Mr. Sicat said.

"Looking at the bigger picture, the recent index setback is not equivalent to degrading the strong fundamentals.  We believe our listed companies will remain resilient and will continue to find ways to take advantage of the favorable local macroeconomic environment," Mr. Sicat added.

Other sectors which performed well include the Holding Firms, which combined profits increased by 37.8 percent. The Property sector also performed remarkably, with its consolidated income expanding by 24.9 percent.

On the other hand, the Industrial, Services and Mining & Oil sectors reported declines in their net incomes for the first quarter.  The combined profits of the Industrial Sector decreased by 10.4 percent due in large part to lower incomes reported from power companies.  Meanwhile, increased costs and operating expenses primarily caused the drop in net earnings of affected companies in the Services Sector which posted a decline in its total income by 11.0 percent.

The Mining & Oil Sector's aggregate income continued to slide from the previous year, this time dropping by 32.6 percent with companies in this sector adversely affected by declining global nickel prices as well as the suspension of certain mining operations.


Vietnam

June CPI shows slight increase

The consumer price index in June inched up by 0.05 per cent after a light reduction of 0.06 per cent in May, the General Statistics Office (GSO) announced yesterday.

The CPI in the first half of the year increased 2.4 per cent against last December and 6.69 per cent against last June.

This showed that CPI growth could be kept to the 7-8 per cent rate set by the National Assembly, said director of the GSO's Price Department Nguyen Duc Thang.

Thang stressed that June had the lowest growth rate in the past nine years and that CPI for the first six months was similarly low.

He attributed the June increase to a surge in petrol prices and slight reductions of the price for rice and food: 0.62 per cent and 0.03 per cent, respectively. Rice and food accounted for 40 per cent of total goods and services used to calculate the CPI.

The reduction of rice and food prices was due to high supply of those products, in addition to the fact that consumers consumed less poultry and cattle due to diseases at home and in neighbouring countries, he said.

Meanwhile, the group of garment, textile, leather and footwear saw the highest increase in June: 0.42 per cent. Prices surged 0.32 per cent for beverages and tobacco and 0.4 per cent for cultural, entertainment and tourism products.

The price of gold was not used to calculate the CPI. It fell 4.11 per cent in June against the previous month and 15.1 per cent in the first half of the year compared with the same period of last year.

The US dollar price surged 0.84 per cent in June and 0.84 per cent in the first half of the year.


Asean

Most Southeast Asian stocks extended their losses and fell to multi-month lows on Tuesday but some markets recovered on easing liquidity hopes after comments from
U.S. Federal Reserve and Chinese central bank officials.

Two of the Fed's top officials downplayed the notion of an imminent end to monetary stimulus and said on Monday the market
reaction was not yet cause for concern.

China's central bank said it expected seasonal factors that caused a recent spike in interbank market rates would gradually fade.

The rebound is due to the Fed statement on liquidity, said Edwin Sebayang, head of research at MNC Securities in Jakarta.
   
The Philippines' main index extended losses for a fifth straight session, falling 3.1 percent to a more than
six-month low. Vietnam's benchmark VN Index extended losses for a fourth straight day, falling 3.4 percent to a
two-month low on foreign selling in blue chips.

Malaysian shares fell for a fifth straight session, dropping 0.5 percent to a near two-month low. Indonesia's main
stock index extended losses for a fifth session with a 0.2 percent loss, hitting a five-month low.
 
Both Indonesia and Malaysia recovered during the session, but witnessed foreign outflows of $120.63 million and $129.42
million respectively on Tuesday.

Bucking the trend, the Thai SET index gained 1.5 percent, recovering from a six month low and snapping a five-session losing streak. Singapore's Straits Times Index
also recovered from a more than six-month low with a 0.5 percent gain.  
    
SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market                  Current        Prev Close      Pct Move
 TR SE Asia Index*     409.54              406.37            +0.78
 Singapore                 3089.93            3074.31            +0.51   
 Kuala Lumpur           1728.64            1738.19            -0.55
 Bangkok                   1384.63            1364.09           +1.51
 Jakarta                     4418.87            4429.46            -0.24
 Manila                      5789.06            5971.05            -3.05
 Ho Chi Minh               473.02              489.74            -3.41
 
 

 

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ASEAN  ANALYSIS

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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