ASEAN KEY DESTINATIONS
Asean Markets to Open Lower
Expect to see a sharp fall in Asean markets today after a dismal overnight session in the USA.
The S&P 500, down 3 percent on the week, and the NAS has turned negative on the year after the Chief of the U.N.’s nuclear watchdog said the situation at a damaged nuclear reactor in earthquake-stricken Japan was “very serious.” Stocks slumped about 2 percent on Wednesday in a third day of selling, and analysts saw further market volatility ahead, the comments drove players to seek safety in US T-bonds.
The DJIA .DJI closed off 242.12 pts, or 2.04 percent, at 11,613.30. The S&P 500 .SPX closed down 24.99 pts, or 1.95 percent, at 1,256.88.
The NAS .IXIC closed minus 50.51 pts, or 1.89 percent, at 2,616.82.
Nuclear-related stocks slid on bets the crisis would cripple the industry’s growth worldwide.
Singapore will be belted early after monstrous falls in the USA overnight.
Wait for a fall over 1.5 percent before buying, and only buy the companies that have a strong foundation. Shayne Heffernan Best Buys are:
Overseas Union Enterprise
Overseas Union Enterprise Limited is a Singapore-based company. The principal activities of the company are those of hospitality services, property investment and investment holding. It has five segments: hospitality, property investments, property development, investment holding and others. Hospitality includes operation of hotels and hotel management in Singapore, China and Others.
Property investments include rental income from investment properties owned by the Company. Property development includes sale of residential properties. Investment holding includes investment in quoted/unquoted shares for dividend income.
Others include income from commercial laundry operations. In June 2010, the company, together with its wholly owned subsidiary, Meritus International Pte. Ltd., acquired Maritus Trademarks Pte. On November 1, 2010, it disposed of its interest in Nicoll Development Pte. Ltd. On January 7, 2011, the Company acquired Imperial Development Holdings Pte. Ltd.
SC Global Developments Ltd is a Singapore-based company. The principal activities of the Company are those relating to the provision of project management and marketing services, investment holding and property development.
It has four segments: Property developments, which includes development, construction and trading of properties; Property investment, which includes holding of properties for rental income and capital appreciation; Investment holding, which includes investing activities in quoted and unquoted securities, and AVJennings Limited, which includes the operations of the Company's subsidiaries in Australia.
The Company's subsidiaries include Carden Investments Pte Ltd, Crawforn Pte Ltd, Tabosca Pte Ltd, Kimmingston Pte Ltd and Josewin Investments Pte Ltd.
After falling for five days the Singapore Exchange ended higher yesterday as investors went bargain-hunting after recent sharp falls.
The Straits Times Index gained 24.92 points, or 0.8 percent, to close at 2,971.00.
Noble Group rose 8 cents to end at S$2.05, SingTel edged up 1 cent to S$2.91, and NOL added 5 cents to S$1.97.
Properties were firmer, with City Developments rising 4 cents to S$10.56, and CapitaLand gained 3 cents to S$3.16.
Singapore Airlines finished 10 cents higher at S$13.20, Keppel Corp advanced 16 cents to S$11.52, while DBS Group held steady at S$14.08.
Thailand will fall at open and I would be looking o see a 1 percent fall before buying anything, but there are great bargains on this already undervalued exchange. Shayne Heffernan Best Buys are:
Banpu Public Company Limited mines for coal and other minerals. The company explores and mines coal for industrial use, kaolin and clay for ceramic industries, and granite and marble for construction industries. The Company also joint-ventures with Nordic Power Invest AB to operate cogeneration plant to supply electricity to industrial plants in Map Ta Phut industrial estate.
L.P.N. DEVELOPMENT PUBLIC COMPANY LIMITED, together with its subsidiaries, engages in the planning, development, and sale of real estate properties.
It primarily develops offices and residential condominiums located in the Central Business District of Bangkok. L.P.N. DEVELOPMENT PUBLIC COMPANY also provides real estate management services, including brokerage, building management, and engineering services. The company was founded in 1989 and is based in Bangkok, Thailand.
Sansiri Public Company Limited, together with its subsidiaries, engages in property development in Thailand. The company's property portfolio comprises land and housing projects, residential condominium projects, and serviced apartments and office buildings for rent. It also engages in the provision of building management and real estate brokerage services, as well as in hotel and medical spa business. The company was founded in 1984 and is based in Bangkok, Thailand.
Yesterday in Bangkok, The Stock Exchange of Thailand (SET) composite index went up 5.03 points or 0.50 percent to close at 1,008.13 points at the end of trading session on Wednesday afternoon. The trade value was 29.06 billion baht.
Top five most active values were as follows;
BANPU closed at 742.00 baht, down 2.00 baht (0.27 percent)
CPF closed at 24.90 baht, up 0.20 baht (0.81 percent)
TOP closed at 80.75 baht, up 0.75 baht (0.94 percent)
IVL closed at 49.75 baht, up 0.50 baht (1.02 percent)
PTT closed at 339.00 baht, up 1.00 baht (0.30 percent)
Malaysia will struggle at open today after Japan news rocked Wall St yet again.
Be patient and buy only fundamentally sound companies.
Shayne Heffernan best buys are
Faber Group Berhad
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.
Kossan Rubber Industries Berhad
Kossan Rubber Industries Bhd. is a Malaysia-based company engaged in investment holding and manufacturing and sales of rubber products. The company offers molded rubber products, extruded rubber products, engineered rubber products, colored ethylene propylene diene Monomer (EPDM), rollers, ethylene vinyl acetate (EVA), polyurethane (PU) products and gloves.
It has 49 production lines with an annual production capacity of 3.9 billion pieces of gloves. Its ultimate holding company is Kossan Holdings (M) Sdn. Bhd. As of December 31, 2009, the Company’s direct subsidiaries were Kossan Latex Industries (M) Sdn. Bhd., Perusahaan Getah Asas Sdn. Bhd., Hibon Corporation Sdn. Bhd., Doshin Rubber Products (M) Sdn. Bhd., Ideal Quality Sdn. Bhd., Kossan Engineering (M) Sdn. Bhd. and Top Calibre Sdn. Bhd.
In Kuala Lumpur yesterday the index gained 8.30 points or 0.56 percent. The market traded within a range of 7.73 points between an intra-day high of 1492.44 and a low of 1484.71 during the session.
Most Active MPAY, JOTECH-WA, SAAG, IRCB-WA, IRCB, AXIATA, HWGB, RAMUNIA-WA, KBUNAI and TANCO.
Trading volume decreased to 931.42 mil shares worth RM1471.32 mil as compared to Tuesday's 1452.29 mil shares worth RM2116.51 mil.The Finance Index increased 0.82 percent to 13534.84 points, the Properties Index up 1.05 percent to 1040.69 points and the Plantation Index rose 0.16 percent to 7566.99 points. Market breadth was positive with 548 gainers as compared to 197 losers.
The Winners were CIMB (+12 sen to RM8.00), GENTING (+15 sen to RM10.10), MISC (+13 sen to RM7.55), MAYBANK (+4 sen to RM8.70) and TM (+7 sen to RM3.89). The Losers were IOICORP (-2 sen to RM5.56), GENM (-2 sen to RM3.31), MAXIS (-1 sen to RM5.36), KLK (-4 sen to RM20.56) and BAT (-6 sen to RM45.14).
Manila stocks will open sharply lower today, only look for the best quality stocks and wait for the fall to gather some momentum before buying.
Shayne Heffernan's Best Buys are:
San Miguel is on the move, there was a block sale estimated at P21 billion involving San Miguel Corp. The company was to make an announcement later in the day about the transaction, a company spokesperson said.
Outside the P21-billion block sale, San Miguel shares were up by 1.4 percent to P162.50 on Wednesday.
A stock trader said 300 million San Miguel shares were crossed at P70 per share.
San Miguel Corporation (SMC) is a Philippines-based food, beverage and packaging company. Its product portfolio includes beer, hard liquor, and non-carbonated non-alcoholic beverages, processed and packaged food products, meat, poultry, flour, dairy products and a number of packaging products.
The company food operations includes the production and marketing of fresh, ready-to cook and processed chicken, pork and beef, milk, butter, cheese, margarine, ice cream, flour products, snack foods, coffee, cooking oil and animal and aquatic feeds. It is also engaged in the development and management of real estate properties.
San Miguel Corporation has strategic partnerships with international companies, among them Nihon Yamamura Glass Company, Ltd., Hormel Foods International Corp. of the United States and Kirin Holdings Company Ltd. of Japan.
It has five breweries in the Philippines and operates one brewery each in Indonesia, Vietnam, Thailand, Hong Kong and two breweries in China.
Semirara Mining Corporation is engaged in exploring, developing, and mining coal resources in Semirara Island. The Company is a subsidiary of DMCI Holdings, Inc. The Company generates 98% of its revenues through sales of coal and 2% coal handling services.
The Corporation has a long-term supply contract with National Power Corporation (NPC) for its power plants in Calaca, Batangas.
In Manila yesterday the Philippine Stock Exchange index closed 17.87 points lower or 0.46 percent at 3,878.44.
The local market opened strongly but hit resistance near 3,900, thereby falling for the rest of the session but buying support close to 3,860 tempered the fall of the main index. Despite the overall decline, there were 68 advancers against 60 decliners while 40 stocks were unchanged.
The day's decline was led by the services sector, which fell by 2.85 percent.
The losers were PLDT, AEV, Aboitiz Power, Metro Pacific Investments, SM Prime and ICTSI.
The Winners were EDC, SM Investments, DMCI, AGI, First Gen, FPH, Semirara Mining, Cebu Air, Metrobank, Nickel Asia, Ayala, Banco de Oro and San Miguel.
Jakarta will come under pressure at open today, wait for a fall before buying anything in the morning session.
Shayne Heffernan Best Buys are
Timah, the world’s No. 1 tin exporter, yesterday gained 1 percent to Rp 2,600.
PT Timah Tbk is an Indonesia-based mining company. The Company is primarily engaged in integrated tin mining operations, including the exploration, mining, smelting and marketing of its products to customers overseas.
It is also engaged in coal mining and asphalt exploration. The Company acts as a holding company, which supports the business activities of its subsidiaries. As of December 31, 2009, it had seven subsidiaries: PT Tambang Timah; PT Timah Industri; PT Timah Eksplomin; PT Timah Investasi Mineral; PT Dok & Perkapalan Air Kantung; Indometal London Limited, and PT Tanjung Alam Jaya.
Adhi Karya (Persero)
PT Adhi Karya (Persero) Tbk is an Indonesia-based construction company. Its business segments are construction, which includes construction of roads and bridges, irrigation, ports, hotels, hospitals, schools and commercial buildings; engineering, procurement and construction (EPC).
Yesterday in Jakarta the JCI added 6.99 points, or 0.2 percent, to close at 3,531.48. About three billion shares worth Rp 4 trillion ($456 million) changed hands. Gainers outnumbered decliners 115 to 82.
Garuda Indonesia rose 1.8 percent to Rp 560.
Consumer goods giant Unilever Indonesia edged up 0.6 percent to Rp 16,550.
Indo Tambangraya Megah, the Indonesian unit of top Thai coal miner Banpu, rose 0.5 percent to Rp 4,750.
The rupiah rose 0.1 percent to 8,770 against the dollar on Wednesday, as regional stocks rose after the US Federal Reserve signaled a more positive assessment of the USA economy.