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ASEAN STOCK WATCH Asean Affairs   1  March 2011

ASEAN MArkets to Rally

Shayne Heffernan

Asean will rally today after a good overnight session in the USA.

At the close, the Dow Jones Industrial Average had gained 95.89 points, or 0.79 percent, to 12,226.34. The Standard and Poor's 500 was up 7.34 points, or 0.56 percent, at 1327.22. The Nasdaq composite was down 1.22 points, or 0.04 percent, at 2782.27.

Each index is on track to finish the month with gains. The Dow has risen 2.6 percent so far this month, while the S&P index and Nasdaq have each gained about three per cent.

A new round of corporate deals also helped push stocks higher. Ventas, which owns senior housing communities, said it would buy Nationwide Health Properties in a $US5.8 billion deal that will create the nation's largest health care real estate investment trust. Weakness in the US$ helped boost precious metals higher Monday. Mar Silver rallied for 2.5 percent to close at 33.80 oz. April gold finished near flat at 1409.90 oz. after it sold off heading into the close of pit trade.

Snap Shot of World’s Major Markets

DJIA 12226.30 +95.89 +0.79 percent
S&P 500 1327.22 +7.34 +0.56 percent
NAS 2782.27 +1.22 +0.04 percent
S&P/TSX 14136.50 +84.37 +0.60 percent
Mexico Bolsa 36990.70 +110.47 +0.30 percent
Brazil Bovespa 67268.40 +365.85 +0.55 percent
STOXX 50 3013.09 +28.07 +0.94 percent
FTSE 100 5994.01 -7.19 -0.12 percent
CAC 40 4110.35 +39.97 +0.98 percent
DAX 7272.32 +87.15 +1.21 percent
FTSE MIB 22466.60 +116.86 +0.52 percent

In Jakarta the JCI climbed 26.82 points, 0.78 percent, to Rp 3,470.35 on Monday. About 2.85 billion shares worth Rp 3.78 trillion ($429 million) exchanged hands.We expect that rally to continue tomorrow but will be cautious as the developments in the Middle East will leave some volatility in the market.

My Best Buys Today

Astra Agro Lestari, the nation’s largest listed planation firm, rose 1.9 percent to close at Rp 21,850. September delivery palm oil rose as high as 3,452 ringgit ($1,132) in Kuala Lumpur on Monday. Astra Agro Lestari is still good buying today.

Coal miners are also good buying today, yesterday, Berau Coal Energy, Indonesia’s fifth-largest coal miner, gained 1.9 percent to Rp 530, while Bumi Resources, the nation’s top producer of the fuel, rose 2.6 percent to close at Rp 3,000.

The rupiah strengthened 0.3 percent to 8,811 against dollar as of the market’s close on Monday, up from 8,838 at Friday’s close. It reached 8,805 at one point, the strongest level since June 2007.

Shayne Heffernan has issued a strong buy on iShares MSCI Singapore Index Fund (ETF. NYSE:EWS with a 2012 price target of $20.

iShares MSCI Singapore Index Fund (the Fund) is an exchange traded fund (ETF). The Funds seeks investment results that correspond to the price and yield performance of the MSCI Singapore Index (the Underlying Index). The Underlying Index consists of stocks traded primarily on the Singapore Stock Exchange.

The Fund invests at least 95% of its assets in the securities of its Underlying Index and in depositary receipts (DRs) representing securities in its Underlying Index.

The Fund invests in a representative sample of securities that collectively has an investment profile similar to the Underlying Index.

The Fund concentrates its investments (hold 25 percent or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated. The Fund’s investment advisor is BlackRock Fund Advisors (BFA).

In Thailand today we are expecting a rally, Thai stocks are still very undervalued and great buying opportunities exist.

Rich Asia Steel, Raimon Land, PTT and KBANK are my buys of the day.

Shayne Heffernan has upgraded Rich Asia Steel PCL to buy from a hold. The stock has a very low P/E Ratio and is in a strong sector, price target for 2011 is .30b

Rich Asia Steel Public Company Limited is a Thailand-based company engaged in the distribution of steel pipes, steel scraps and steel products.

The Company’s products include square tubes, steel pipes, rectangular tubes, lip-channeled steels, hot-rolled steel coils and sheets, as well as billets.

Raimon Land is also a strong buy.

28 February 2011

Subject: Report on the operating results of Raimon Land Public Company Limited

To: The President, The Stock Exchange of Thailand

Raimon Land Public Company Limited (“the Company”) would like to report the operating results of the Company, its subsidiaries and its jointly controlled entities for the year ended 31st December 2010 as follows:

Consolidated Financial Statements

In 2010, the Company and its subsidiaries registered a net profit of Baht 98 million compared to a net loss of Baht 271 million in the previous year.

The turnaround from a net loss to a net profit can be explained as follows:

In 2010 the Company and its subsidiary generated Baht 372 million more in recognized revenues from property sales than in 2009, an increase of around 12 percent.

In 2010 the Company reduced selling and administrative expenses by around Baht 173million, a decrease of approximately 21 percent.

The adoption of deferred taxes.

Separate Financial Statements

In 2010, the Company generated a reduced net loss of Baht 70 million (before recording an exceptional item or allowance for doubtful accounts of loans to a jointly controlled entity of Baht 247 million and interest receivable of Baht 88 million) down from a net loss of Baht 105 million in 2009.

The exceptional item mainly arose from the sale of land owned by the jointly controlled entity to a third party for an amount that was less than the loans and accrued interest owing to financial institutions and the shareholders of the jointly controlled entity. After the exceptional item, the net loss of the Company was Baht 405 million.

Please be informed accordingly.

Yours sincerely,

Hubert Viriot

Chief Executive Officer

In Bangkok Yesterday The Stock Exchange of Thailand (SET) composite index went up 2.00 points or 0.20 percent to close at 987.91 points at the end of trading session on Monday afternoon. The trade value was 15.62 billion baht.

Top five most active values were as follows;

PTT closed at 337.00 baht, down 6.00 baht (1.75%)

BANPU closed at 726.00 baht, down 14.00 baht (1.89%)

KBANK closed at 117.50 baht, up 3.00 baht (2.62%)

TMB closed at 2.28 baht, up 0.08 baht (3.64%)

PTTEP closed at 182.00 baht, up 3.00 baht (1.68%)


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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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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