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ASEAN STOCK WATCH Asean Affairs   18  March 2011

ASEAN Markets to Rally‏

Shayne Heffernan

www.livetradingnews.com

Asean markets will be lifted by a positive result overnight on Wall St.

US stocks rebounded Thursday after three days of selling, as all three major US indexes recovered from Wednesday's lows and are back in the green for Y 2011 on today's action. The markets rose in the final hour of trading closing close to the session highs.

The recent declines followed a six- month rally, that prompted calls for a market consolidation.

Bangkok will have a much better day today, Shayne Heffernan best buys are,

Kiatnakin Bank Public Company Limited (the Bank) is a commercial bank in Thailand. It offers deposit services, including priority banking services, deposit products and life insurance products, and loan services, which include retail loans and corporate loans.

The bank provides various types of accounts, including savings account, current account and fixed deposit account. Life insurance products include KK Smart 7 Plus, which provides endowment assurance, providing life cover and cash back, and KK Cancer Care, which provides insurance scheme for bank customers, offering the life coverage together with cancer benefit.

In addition, the bank provides hire purchase loans for all types of automobile and arranges car auctions for those looking to buy a car.

It also offers a variety of financial solutions, including resident project lending, housing loans and logistic loans, among others. The bank has nine subsidiaries.

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.

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.

WYNCOAST CUSTOMS FREEZONE was licensed by Thailand’s customs department in 2005. The nearly 40,000 SQ.M free zone warehouse for lease, on Bangna-Trad road, provides enormous TAX FREE benefits to worldwide investors. We are right between Suvannabhum International AIRPORT and Laem Chabang Country’s No.1 SEAPORT.

WYNCOAST FACILITIES include Customs Office at site, experienced Logistics solution team, Executive Offices, Staff Accommodation, Conference rooms, and Food center. We now serve valued customers around the World.

AMANAH

Amanah Leasing Public Company Limited provides hire purchase loans and leasing loans to individuals and juristic persons in Thailand. It offers loan services for passenger cars and commercial cars focusing on Japanese cars and low-priced European cars. The company also provides car loan marketing services for alliances and dealers; car license plate pledging services; loan services for refinancing from other financial institutions; and after-sale services, such as car insurance, insurance policy renewal, group car insurance, and car tax payment services. In addition, it offers car rental service; used car sale agency service; and debt management, follow up, and cars repossessing services. The company was formerly known as Nava Leasing Public Company Limited and changed its name to Amanah Leasing Public Company Limited in October 2010. Amanah Leasing Public Company Limited was founded in 1992 and is based in Bangkok.

Yesterday in Bangkok The Stock Exchange of Thailand main index went down 5.78 points or 0.57 percent to close at 1,002.35 points at the end of trading session on Thursday Afternoon. The trade value was 24.52 billion baht.

US-based Cigna Insurance, which specialises in affinity marketing and alternative distribution channels, is investing US$56 million (1.7 billion baht) over the next three years to strengthen its business expansion.

Of the total, $15 million would be spent this year, mainly for a new call centre at Chaeng Watthana, followed by $18 million next year and $23 million in 2013, mainly to upgrade software and human resources, said Gary Wayne Denson, CEO and country manager of Cigna Insurance and Cigna International Marketing (Thailand).

Cigna currently operates two call centres in Bangkok, at its headquarters in Phloen Chit and in Wong Wian Yai, with a combined 500 seats. The new call centre with 180 sets will open in July.

Cigna entered Thailand in 2002 through Cigna International Marketing Co Ltd, which operates call-centre and telemarketing services for several leading insurers. It began selling its own products through telemarketing in 2006 after acquiring a licence from Thai Charoen Insurance Plc (TCI).

Top five most active values were as follows;

PTT closed at 336.00 baht down 3.00 baht (0.88%)

BANPU closed at 738.00 baht, down 4.00 baht (0.54%)

IRPC closed at 6.00 baht, unchanged

IVL closed at 49.25 baht, down 0.50 baht (1.01%)

CPF closed at 25.00 baht, up 0.10 baht (0.40%)

Singapore will rally back over 3000 today and the best buys according to Shayne Heffernan are:

Jardine Strategic Hldg Ltd has been upgraded to a Strong Buy by Shayne Heffernan with a 2012 price target of SGD$50.

Jardine Strategic Holdings Limited announced that the Board is recommending a final one-tier tax exempt dividend of USD0.82 per share (2009: USD0.47 per share).

Singapore listed Overseas Union Enterprise has been Upgraded by Shayne Heffernan to a strong buy with a 2012 price target of SGD$5.

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.

This together with the interim dividend will produce a total dividend of USD0.98 per share, an increase of 69 percent.

The final dividend will be paid on or about June 20, 2011.

Oceanus Group

Oceanus Group Limited is a Singapore-based investment holding company for three businesses: aquaculture production, abalone processing and distribution, and food and beverage.

The company operates four segments: live marine products, which includes cultivation and sale of abalone and others; processed marine products, which includes processing, refrigeration and storage of canned marine products; food and beverage, which includes dining management, provision of dining management advisory services, and investment holding.

Its subsidiaries include Oceanus Aquaculture Group Pte. Ltd., Long Ze Aquaculture Co., Ltd, Oceans Food Group Pte. Ltd., Zhangzhou Oceanus Food Co., Ltd and Oceanus Food (Hong Kong) Company Limited.

May 6, 2010, the Company’s subsidiary, Oceanus Food Group Pte. Ltd. incorporated a wholly owned subsidiary in Taiwan. On Dec. 14, 2010, the Company incorporated a 70% owned subsidiary in Hong Kong, known as Oceanus Food Group Limited.

Yesterday in Singapore the Straits Times Index lost 33.26 points or 1.12 per cent to 2,937.74. In the broader market, losers beat gainers 16 to 1 in a volume of 65.30 million shares valued at $88.2 million.

The Losers included Jardine C&C, City Development, SIA, Singapore Land, F&N and SembMar.

Kuala Lumpur will break 1500 today as investor sentiment will be lift by overnight trading in the USA.

Shayne Heffernan best buys are, Yee Lee and Sime Darby.

Yee Lee has seen a strong run forward since 2009, based on the low P/E this stock should rally back toward $1.50 according to Shayne Heffernan.

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.

The stock has fallen away of late and is great buying at these levels.

There is a legal matter regarding a property rented by one of the company’s subsidiaries that should be ignored by investors. I have spoken with Yap Sin Kheong the Yee Lee Group Financial Controller, and the both the company and subsidiary are in sound financial condition and the current litigation.

In Kuala Lumpur yesterday the index lost 0.35 points or 0.02 percent. The market traded within a range of 9.29 points between an intra-day high of 1489.56 and a low of 1480.27 during the session.

The Finance Index fell 0.21 percent to 13506.81 points, the Properties Index dropped 0.27% to 1037.85 points and the Plantation Index down 0.14 percent to 7556.07 points.

Most Active WTK, MIECO, LAWEKO, AXIATA, PWORTH, HWGB-WB, HWGB, DRBHCOM, BJRTAIL and EVERGRN. Trading volume decreased to 922.23 mil shares worth RM1467.20 mil as compared to Wednesday's 931.42 mil shares worth RM1471.32 mil.

The Winners were MAYBANK (+5 sen to RM8.75), TM (+5 sen to RM3.94), GENTING (+4 sen to RM10.14), AXIATA (+1 sen to RM4.76) and PPB (+10 sen to RM16.90).

The Losers were CIMB (-10 sen to RM7.90), GAM (-6 sen to RM3.63), PBBANK (-2 sen to RM12.98), MISC (-3 sen to RM7.52) and PETGAS (-6 sen to RM11.22). Market breadth was negative with 285 gainers as compared to 435 losers.

Expect a strong showing today on the Philippines Exchange, yesterday Investors oversold stocks such as PLDT, SM Investments, AGI, EDC, Security Bank, Cebu Air, Megaworld, Ayala Land, Metro Pacific Investments, Ayala Corp., Aboitiz Power, Metrobank, Semirara, First Gen, Banco de Oro, San Miguel Corp., ICTSI, SM Prime Holdings and FPH.

Shayne Heffernan rates all these companies as good buying today with the best being Banco de Oro, San Miguel Corp., Aboitiz Power, Metrobank, Semirara

Manila yesterday the Philippine Stock Exchange index slid by 61.06 points, or 1.57 percent, to finish at 3,817.38 on Thursday. The index has lost ground over the last five days.

Value turnover thinned to P4 billion from the extraordinary level of P26 billion the previous day when a large block of San Miguel Corp. shares were crossed in the market.

DMCI was the only actively traded stock that bucked the day's downtrend.

Jakarta is set to rally back over 3500 today as investor sentiment will follow the lead of Wall St.

Shayne Heffernan best buys Bakrie Sumatera Plantations, Bumi Resources

Yesterday Bakrie Sumatera Plantations, Indonesia’s third-largest plantation company, lost 1.5 percent to Rp 340. Shares fell as palm oil for June delivery fell 1.9 percent to 3,305 ringgit ($1,082) per ton in Kuala Lumpur.

Palm Oil will open higher in Kuala Lumpur today and Bakrie Sumatera Plantations wil follow, buy early in the morning session.

Bumi Resources

Bumi closed at Rp3000 but should recover today, again buy early.

In Jakarta yesterday the JCI lost 47.27 points, or 1.3 percent, to close at 3,484.21. About 3.1 billion shares valued at Rp 3.8 trillion ($433 million) changed hands. Decliners beat gainers 149 to 42.

Semen Gresik, the nation’s biggest cement producer, fell 2.9 percent to Rp 8,350.

Timah, Indonesia’s largest tin producer, lost 1.9 percent to Rp 2,550. Three-month delivery prices for the metal fell 1.2 percent to $28,270 per ton in London on Wednesday amid concern Japan’s crisis may dampen demand.

The rupiah weakened to 8,775 against the US dollar on Thursday, down from 8,770 on Wednesday.

 

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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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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