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ASEAN STOCK WATCH Asean Affairs   10  March 2011

ASEAN to Push Forward

Shayne Heffernan

Asean will keep posting gains today following world markets higher.

Malaysia should see yet another day of gains today.

Shayne Heffernan Best Buys are Unisem, Tomypak, Faber Group


Unisem (M) Berhad (UNISEM) is a semiconductor packaging and test services provider in Malaysia. The Company offers integrated suite of packaging and test services,such as wafer bumping, wafer probing, wafer grinding, as well as range of lead frame and substrate integrated circuits packaging, wafer level chipscale packaging and radio frequency, analog, digital and mixed-signal test services.

Its turnkey services include design, assembly, test, failure analysis, and electrical and thermal characterization. The company’s direct subsidiaries are Unisem II Sdn. Bhd., Unisem Advanced Technologies Sdn. Bhd., Unisem (Europe)Holdings Limited, Unisem Chengdu Co., Ltd., Unisem (Mauritius) Holdings Limited and Unisem International (Chengdu) Ltd. Operations are carried out in Malaysia, the United Kingdom, the People’s Republic of China, Indonesia and United States of America.


Tomypak Holdings Berhad (THB) is a Malaysia-based investment holding company. Through its subsidiary, Tomypak Berhad, the Company is engaged in the manufacture and sale of packaging materials, polyethylene, polypropylene films and sheets and thermoforming sheets. It markets its products in both domestic and overseas markets.

Faber Group

Faber Group Berhad (Faber) is a Malaysia-based company engaged in investment holding and provision of management services to its subsidiaries.

It operates in two segments: integrated facilities management (IFM), which is engaged in the provision of hospital support services and provision of facilities management, and property development, which is engaged in the development of residential and commercial properties.

The company provides IFM for hospital support services ranging from facilities engineering maintenance services, biomedical engineering maintenance services, cleansing services, linen and laundry services to clinical waste management services.

It has 14 direct subsidiaries and a number of indirect subsidiaries. Operations are carried out in Malaysia, India and United Arab Emirates.

In Kuala Lumpur yesterday the index gained 6.03 points or 0.40%. The market traded within a range of 6.51 points between an intra-day high of 1525.69 and a low of 1519.18 during the session.


The Winners CIMB (+14 sen to RM8.15), PETCHEM (+25 sen to RM6.70), AMMB (+16 sen to RM6.46), PBBANK (+4 sen to RM13.16) and AXIATA (+2 sen to RM4.92).

The Losers were GENM (-6 sen to RM3.37), GENTING (-6 sen to RM10.32), MISC (-9 sen to RM7.91), KLK (-14 sen to RM20.86) and BAT (-14 sen to RM47.64).

Market breadth was positive with 575 gainers as compared to 211 losers.

Trading volume increased to 1501.18 mil shares worth RM2244.30 mil as compared to Tuesday’s 1168.32 mil shares worth RM1747.86 mil.

The Finance Index increased 0.84 percent to 13750.33 points, the Properties Index up 0.71 percent to 1074.78 points and the Plantation Index rose 0.04 percent to 7745.06 points.

Banks fell during the session yesterday but look set to recover in Singapore today.

The Exchange should post gains today following the lead from global markets.

Shayne Heffernan Best Buys are UOB, OCBC, DBS

OCBC closed 1.4 percent lower at $9.35, while United Overseas Bank fell one percent at $18.78, DBS Group eased 0.6 percent at $14.46.

Singapore closed lower yesterday as investors booked profits on recent gains in blue chips.

The Index fell 10.94 points to 3,092.90 on a volume of 1,133 million shares.

The market opened higher, but lost ground later due to geopolitical concerns.

Genting Singapore rose one cent to $2.00 while Golden Agri-Resources fell one cent to 68.5 cents.SingTel shares ended 4 cents higher at $3.04.

Another good session of trading in the global markets will help offset local political issues and lift the SET today.

Overseas capital will continue to flow into Asia including Thailand this and next year due to faster economic recovery in the region, said the Bank of Thailand governor Prasarn Trairatvorakul.

“Although it is possible for Thailand to register net capital inflows (this year and next year), several factors could cause two-way capital movement and then,volatility,” Prasarn said at a seminar today.

Shayne Heffernan Best Buys are: EGCO, Sansiri, Supalai PCL


Electricity Generating Public Company Limited (EGCO) is a Thailand-based investment holding company with investment in power generation and supply, as well as comprehensive energy services providing operation, maintenance, engineering and construction services to power plants and other industries in Thailand and overseas.

On Oct. 1, 2009, the Company acquired the entire business of Rayong Electricity Generating Co., Ltd. (REGCO), a wholly owned subsidiary of the Company.

As of Dec. 31, 2009, the Company has 10 subsidiaries, namely Khanom Electricity Generating Co., Ltd., EGCO Engineering and Service Co., Ltd., Agro Energy Co., Ltd.,

Egcom Tara Co., Ltd., EGCO Green Energy Co., Ltd., Roi-Et Green Co., Ltd., EGCO Cogeneration Co., Ltd., EGCO International B.V.I., Conal Holdings Corporation and Quezon Power (Philippines) Limited Co.


Sansiri Public Company Limited (Sansiri) is a Thailand-based company engaged in real estate business. The Company is principally engaged in property development with its properties consisting of land and housing projects, residential condominium projects, serviced apartments for rent, and office buildings for rent.

Other activities include the provision of building management service and real estate brokerage and provision of other services, such as hotel, medical spa and education business. In addition, Sansiri operates a school under the name Satit Pattana School. As of Dec. 31, 2009, the Company operates a 46-key hotel named Casa del Mare, locating on the area of 3 Rai 2 Ngan and 51 Square Wah in Hua Hin District of Prachuap Kiri Khan province. It also operates medical spa business through its subsidiary, Papanan Limited under the brand S Medical Spa. It has 18 subsidiaries.

The analysis of financial status and the result of operation management in 1Q2010

Net profit in the first quarter of 2010 increased sharply by 183%, or 339 million baht comparing with the same quarter of last year.

With 46 percent increasing compare with the same quarter of last year, total revenue was at 4,322 million baht. While net profit was at 339 million baht, or 8 percent of total revenue.

Due to the successful of project launched and tax privilege expired on March 2010,revenue from property development for sale was increasing by 46% comparing with the first quarter of 2009, contributed around 96% of total revenue. Furthermore, the revenue from property services was also increasing by 26 percent in consequence of the increasing of project under management and monthly fee. The revenue from property service was contributed around 3 percent, and only 1 percent of total revenue or 29 million baht contributed from other revenue.


Supalai Public Company Limited is a Thailand-based company engaged in the operation of real estate development projects for living and commercial purposes.

The company and its subsidiaries operate and own detached houses, duplex houses,townhouses and condominiums housing projects in a variety of areas throughout Bangkok and peripheries, including other provinces under the brand name Supalai. In addition, it is also the developer of offices for rent in the commercial districts,while the subsidiaries operate real estate project management, as well as the management of hotels and resorts, including Supalai Pasak Resort & Spa and Best Western Premier Supalai Resort & Spa.

The Company’s subsidiaries are Supalai Property Management Co., Ltd., Haadyai Nakarin Co., Ltd., Supalai Northeast Co., Ltd. and Phuket Estate Co., Ltd.

Yesterday in Bangkok the Stock Exchange of Thailand (SET) composite index went down 1.56 points or 0.15 percent to close at 1,017.01 points at the end of trading session on Wednesday afternoon. The trade value was 31.08 billion baht.

Top five most active values were as follows;

IVL closed at 50.00 baht, up 0.50 baht (1.01 percent)

PTTCH closed at 145.00 baht, up 2.50 baht (1.75 percent)

BANPU closed at 732.00 baht, down 4.00 baht (0.54 percent)

PTTAR closed at 37.25 baht, up 0.25 baht (0.68 percent)

PTT closed at 344.00 baht, down 4.00 baht (1.15 percent)

Sim Lian Group Ltd has been Upgraded by Shayne Heffernan to a Strong Buy. In a note to traders today Shayne Heffernan said Sim Lian Group Ltd Upgraded is very undervalued and could go over $1SGD in the coming year.

Sim Lian Group Limited is a Singapore-based investment holding company. The Company operates in five business segments: building construction, property development,property investment, investment holding and others.

The building construction segment includes general builders and construction contractors, general engineering, and sale of construction materials.

The property development segment includes the development of residential and commercial projects. The property investment segment includes leasing of a warehouse and industrial building and a shop unit for rental income.

The investment holding segment includes investment in unquoted equity shares of subsidiaries. The others segment includes trading of industrial and marine lubricants; leasing, servicing and maintenance of construction and industrial equipments and parts, and leasing, servicing and maintenance of mobile sanitation facilities.



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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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.

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