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ASEAN STOCK WATCH Asean Affairs   15  March 2011

Japan to weigh on Asean markets

Shayne Heffernan

European and US stocks declined on Monday, as investors were worried about the impact of the devastating earthquake and tsunami in Japan on the global economy. However, late in USA trading the market picked up pointing to a slow but not so negative day in Asean Trading.

Asian stock markets ended mixed on Monday, with the Nikkei recording its worst one-day performance in more than two years. Nikkei slumped 6.18 percent or 633.94 points to 9,620.49.

Thailand staged a strong rally yesterday but may be tested early with Japan and Middle East worries lowering global markets yesterday.

Shayne Heffernan's Best Buys are:

Wyncoast Industrial PCL BAK:WIN has was Upgraded by Shayne Heffernan to a strong buy with a 2012 price target of .70 Baht on March 07, 2011 16:14 ET. (See the Original)

Today the stock rallied 28.57 percent.

WYNCOAST INDUSTRIAL PARK PUBLIC COMPANY LIMITED (WIN) is listed in Thailand’s Stock Exchange Market under Logistics sector. Its registered capital is 510 million Thai baht.

WYNCOAST’s FREIGHT TRAIN operates from Leam Chabang port to Maptaput port to support petrochemical and automotive businesses.

Pico Thailand Outperforms

Pico (Thailand) Public Company Limited is a Thailand-based company engaged in the provision of marketing communication services.

The company’s business is divided into four categories: Meetings, Incentives, Conventions and Exhibitions (MICE), in which it organizes international meetings and exhibitions; event marketing, which includes product promotion through marketing tools; knowledge communication, in which it provides services to public and private sectors in the form of exhibitions, visitor centers, learning centers, museums and digital content, and other services, including tent leasing, graphic design and booth setup.

The Company has five subsidiaries: PX System Company Limited; Nox Bangkok Company Limited; Multi Designs Company Limited; Thai Teacher TV Company Limited, and FCG Company Limited. It also has three affiliated companies: Inkjet Images (Thailand) Company Limited; Designlab MISC Company Limited, and Ibrix Company Limited.

Italian – Thai Development has been upgraded by Shayne Heffernan to a Strong Buy with a 2012 price target of 6.10 Baht.

Italian – Thai Development Public Company Limited is a Thailand-based company engaged in civil and infrastructure construction and development.

Its projects include mass rapid transit systems, airports, buildings, dams and tunnels, highways, expressways, railways and bridges, industrial and power plants, international works, mining, marine construction services, pipelines and utility works, steel structures and telecommunications.

The company has three overseas branches and two project offices. On March 1, 2009, the Company Nawarat Patanakarn Plc., Aheadall Co., Ltd. and Quest Energy L.L.C. entered into a Joint Venture agreement under the name of QINA Contracting (L.L.C.) to be engaged in the construction business in the United Arab Emirates (UAE). In addition, the company has on Sept. 30, 2009, the company invested in a new 99.70 percent subsidiary company, ITD Madagascar S.A., to do a mining business.

In Bangkok yesterday The Stock Exchange of Thailand (SET) composite index on Monday gained 15.83 points or 1.57 percent to close at 1,022.89 points. The market value was 31.82 billion baht, with 2.59 billion shares traded.

Top five most active values were as follows;

BANPU closed at 750.00 baht, up 30.00 or 4.17 percent.

TOP closed at 81.00 baht, up 3.25 or 4.18 percent.

PTTAR closed at 37.75 baht, up 1.25 or 3.42 percent.

PTTCH closed at 146.50 baht, up 4.50 or 3.17 percent.

SCC closed at 332.00 baht, up 10.00 or 3.11 percent.

Kuala Lumpur will open under some pressure today given the world events.

Shayne Heffernan Best Buys are

Bursa Malaysia listed Unisem Bhd has been upgraded to a strong buy by Shayne Heffernan with a 2012 price target of RM3.

Unisem (M) Berhad (UNISEM) is a semiconductor packaging and test services provider in Malaysia.

Mitrajaya Holdings Bhd has been upgraded to a Strong Buy by Shayne Heffernan with a 2012 price target of 4.10MYR.

Mitrajaya Holdings Berhad is a Malaysia-based investment holdings company. The principal activities of the subsidiary companies are investment holdings, civil engineering, building and road construction works, as well as property development and property management.

Shayne Heffernan strong buy, Sime Darby, the world’s largest listed palm oil producer, will make its first investment in Africa, with the establishment of plantations in Liberia in April.

Sime Darby is Malaysia’s second-largest company by value, with a market capitalisation of 47 billion ringgit. It owns more than 5,000 square kilometres (1,930 square miles) of palm oil plantations in Malaysia and Indonesia.

Sime Darby was granted a 63-year concession in 2009 to develop 220,000 hectares (543,500 acres) of land in Liberia, will begin planting oil palm on 10,000 hectares in the first phase.

“This foray is most significant as it allows us to explore opportunities for further growth and development in other emerging markets and regions,” said Franki Anthony Dass, executive vice-president of Sime Darby Plantation.

Sime Darby, which already has palm oil plantations in Malaysia and Indonesia, will invest 70 million ringgit ($23 million) in the project, Dass added in a statement.

Palm oil, which is used extensively as biofuel and for making processed foods and toiletries, has been vilified by environmentalists for causing deforestation and threatening species such as orangutans and rhinos.

Indonesia and Malaysia are the world’s top two palm oil exporters and account for 85 percent of global production.

In Kuala Lumpur yesterday the index lost 0.27 points or 0.02 percent on Monday. The Finance Index fell 0.15 percent to 13526.82 points, the Properties Index dropped 0.26 percent to 1054.1 points and the Plantation Index rose 0.70 percent to 7664.13 points.

The market traded within a range of 19.68 points between an intra-day high of 1500.21 and a low of 1480.53 during the session.

Most Active BJRTAIL, IRCB-WA, PERISAI, IRCB, PCHEM, SAAG, DIALOG, HWGB, TANCO and JOTECH-WA. Trading volume decreased to 802.36 mil shares worth RM1179.41 mil as compared to Friday's 1020.13 mil shares worth RM1853.92 mil.

The Winners PETCHEM (+19 sen to RM6.75), IOICORP (+8 sen to RM5.69), MISC (+16 sen to RM7.66), YTL (+11 sen to RM7.24) and SIME (+2 sen to RM9.05).

The Losers TENAGA (-17 sen to RM6.03), CIMB (-6 sen to RM7.92), PETGAS (-28 sen to RM11.24), PBBANK (-4 sen to RM12.96) and YTLPOWR (-2 sen to RM2.27).

Market breadth was negative with 308 gainers as compared to 352 losers.

Singapore remains one of the best exchanges to be buying. Regardless of events in Japan Singapore still offers great value and good prospects.

Shayne Heffernan's best buys are:

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.

CWT Ltd is a strong buy in Singapore Monday with a price target of $2.50SGD according to Shayne Heffernan. CWT was set up in 1970 as a private arm of the Port of Singapore Authority (PSA) to provide warehousing and container trucking services in support of the onset of container terminal operations.

One of the earliest logistics and trucking companies in Singapore, they diversified into other logistics and related services including the provision of warehouse management services for the storage and handling of soft and hard commodities, freight forwarding services and engineering services.

CWT was listed on the Singapore Exchange in 1993 and we continued to firmly establish our presence in the region.

Singapore listed Hong Kong Land Holdings has been upgraded to a strong buy by Shayne Heffernan with a 2012 price target of SGD$11.

Hongkong Land Holdings Limited (Hongkong Land) is a Bermuda-based company. The Company is engaged in property investment, management and development.

The Company owns and manages 5 mllion square feet of commercial space in Hong Kong. It also develops residential properties.

In Singapore Monday The Straits Times Index fell 12.63 points, or 0.4 percent, to end at 3,030.86.

Dealers said although Singapore shares were weaker, they managed to erase most of their early losses, as companies response to the Japan quake will be rather muted due to only minimal exposure to Japan.

Volume totaled some 977 million shares valued at S$904 million, with losers leading gainers 313 to 120.

Global Logistic Properties lost 2 cents to S$.188. The company estimated damage to its Japanese properties to be about US$38.8 million, less than one per cent of its total Japanese portfolio valuation.

CapitaLand fell 3 cents to S$3.26, while CapitaMalls dropped 2 cents to S$1.79.

Singapore Airlines finished unchanged at S$13.64, SingTel eased 1 cent to S$2.95, and DBS Group gained 10 cents to S$14.46.

Jakarta may struggle at the open but the nation's coal producers will again lift the exchange after the Japanese nuclear plants situation remains grim.

Shayne Heffernan's Best Buys are Harum Energy, Bumi, Indo Tambangraya

In Jakarta yesterday the JCI rose 27.6 points, or 0.8 percent, to close at 3,569.84. About 4 billion shares worth Rp 4.3 trillion ($490 million) changed hands. Gainers beat decliners 124 to 84.

Coal miner Harum Energy rose 7.1 percent to Rp 9,000, while Indo Tambangraya Megah, the local unit of Thai coal miner Banpu, gained 6.2 percent to Rp 45,500. Bumi Resources, Asia’s biggest thermal coal exporter, gained 1.67 percent to Rp 3,050.

Santikno Suherman, a fund manager at Indo Premier Securities, said mining contributed the most to the JCI’s gains because of extra demand for coal.

National air carrier Garuda Indonesia gained 5.7 percent to 570 rupiah. Crude oil fell 2 percent to $99.18 per barrel in New York, reducing the airline’s fuel costs.

The rupiah strengthened to trade at 8,760 to the US dollar at the close on Monday, from 8,780 on Friday.

Manila will see a shaky start but there is still good buying available, Shayne Heffernan's best buys are Aboitiz Equity Ventures, Metorbank, PLDT.

In Manila yesterday the Philippine Stock Exchange index dipped by 5.65 points, or 0.144 percent, to 3,918.70.

Foreign buying came in after a morning fall and the afternoon session was positive.There was P2 billion in net foreign buying that supported local equities despite the fallout from Japan.

The day's losses were tempered by the modest gains posted by the industrial, holding firms and mining/oil counters. On the other hand, the financial, property and services counters took the brunt of the bears.

Value turnover stood at P5.2 billion, with 64 decliners narrowly edging out 53 advancers.

The stocks that fell on heavy volume were Aboitiz Equity Ventures, Metorbank, PLDT, Aboitiz Power, Ayala Land, Megaworld, Cebu Air, ICTSI and Southeast Asia Cement.

AGI, EDC, SM Investments, First Gen, DMCI, Ayala Corp., FPH, Banco de Oro, Nickel Asia and Vista Land bucked the day's downtrend.


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This year in Thailand-what next?

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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