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ASEAN STOCK WATCH Asean Affairs  13 May2013 

ASEAN Market Preview


The Strategic Investors' Association of Malays Malaysia aims to increase liquidity in the stock market by organising the first Malaysia Investment and Stocks Exchange Expo (MISEE).

President Norizam Tukiman expects investments to start trickling in following the association's initiative to encourage active trading on Bursa Malaysia.

Post-general election (GE), he expects to see an increase in investments due to strong market fundamentals, the strengthening of the ringgit and economic stability resulting from the Economic Transformation Programme.

These factors will represent the pull factor for both local and foreign investors to venture into the market.

“We expect investments to rise, as many investors had held back last year in anticipation of the GE. Since that has passed, and the political situation is settled, we should see more investments flowing in,” he said at a briefing on MISEE 2013.

On May 6, the FTSE Bursa Malaysia KL Composite Index rallied to reach a record high of 1,826 points, driven by the easing of political uncertainty following the Barisan Nasional's return to power.

Moving forward, Norizam said he expected retail investments to expand, as opposed to just institutional investments.

“We expect the ratio of retail investors to institutional investors to increase, to between 30% and 50%, compared to its current level of less than 15%,” he said.

He believes the retail investment segment can achieve these levels in three years.

MISEE 2013 will be held at the Persada International Convention Centre in Johor Baru from May 17-19. The expo aims to educate the public on proper investments and the benefits of buying stocks.

Norizam said the public should understand that a company's share price is very much dependent on its business and fundamentals, and not just mere market sentiment.

He highlighted that the expo would enable investors to better understand the investment prospects in the country, and also educate them on ponzi or get-rich-quick investment schemes.

The event will feature about 300 companies such as Public Mutual Bhd, Kulim Bhd, OSK Investment Bank Bhd, Kenanga Investment Bank Bhd, Felda Global Ventures Holdings Bhd and Am Securities Sdn Bhd. An estimated 30,000 to 50,000 people are expected to attend.

He hopes to hold the expo on a yearly basis and bring it to the whole of Malaysia. He said the next expo would be held at the Putra World Trade Centre in March next year.


Gaming operator Travellers International Hotel Group Inc., a partnership between the groups of local retail tycoon Andrew Tan and the Genting group, has officially filed an application to conduct an initial public offering at the local stock exchange.

Tan-led Alliance Global Group, Inc. disclosed on Friday that Travellers had filed a registration statement with the Philippine Stock Exchange for a potential initial public offering.

The disclosure said the potential offering was at an “initial stage” and that the principal terms, including the number of shares to be offered, the offer price, and any pre-transaction reorganization, were yet to be finalized.

It was earlier reported that Travellers would tap five international houses to arrange an IPO estimated at about $500 million. The five underwriters are UBS, BoFA Merrill Lynch, CIMB, Maybank and Religare Capital.

The offering is targeted sometime in the third quarter of this year, based on previous reports.

Travellers operates Resorts World Manila, the first integrated leisure and resort property in the Philippines that combines privately-operated gaming facilities with hotel, retail, dining, entertainment and other leisure amenities.

After Resorts World Manila in Newport City, Travellers will next work on its new entertainment hub, the $1.1-billion Resorts World Bayshore in Pagcor City, the country’s future Las Vegas-like gaming and entertainment strip.


Thai stocks inched up 0.08% on Friday in cautious trade as investors awaited clearer direction from policymakers about the baht and interest rates.

The Stock Exchange of Thailand Index rose 1.36 points to close at 1,622.48, an increase of 2.7% from the previous Friday's close of 1,578.95. Turnover was 50.63 billion baht, with 10.52 billion shares traded.

The local market is up 16.6% from the end of 2012.

Finance Minister Kittiratt Na-Ranong on Friday turned up the heat on the central bank, saying an interest rate cut of a quarter percentage point from 2.75% would not be enough to keep the baht in check. A bigger rate cut as well as some kind of capital controls may be needed, he said.

The central bank's Monetary Policy Committee is not scheduled to meet until May 29.

Foreign investors were net buyers on Friday of 2.4 billion baht worth of Thai shares. Local institutions were net sellers of 118.78 million baht, brokers sold 128.45 million, and individual investors were net sellers of 2.16 billion baht.

For the month to date, foreign investors have bought 117.88 million baht more in Thai shares than they have sold. For the year to date, they have been net sellers of 15.44 billion baht.


The FTSE Straits Times Index (STI) ended +10.99 points higher or +0.32% higher to 3,443.77, taking the year-to-date performance to +8.74%.

The FTSE ST Mid Cap Index gained +0.19% while the FTSE ST Small Cap Index gained +0.21%.

The top active stocks were Croesus Rtr (unchanged), DBS (+1.13%), Kep REIT (+2.06%), Kep Corp (+1.13%), and Capitaland (+1.06%).

The outperforming sectors today were represented by the FTSE ST Oil & Gas which gained +1.14%. The two biggest stocks of the Oil & Gas Index are Keppel Corp Ltd (+1.13%) and Sembcorp Marine (unchanged). The underperforming sector, FTSE ST Technology, declined -0.45% with Liongold Corp LT declining -0.87% and Stats Chippac unchanged. The FTSE ST Real Estate Index declined -0.06%, the FTSE ST Consumer Services gained +0.08% and the FTSE ST Utilities gained +0.58%.

The three most active Exchange Traded Funds (ETFs) by value today were IS MSCI INDIA 100 (-0.92%), LYXOR CHINA H 10 (+0.89%) and SPDR GOLD SHARES (-1.51%).

The three most active Real Estate Investment Trusts (REITs) by value were Croesus RTr (unchanged), Kep REIT (+2.06%) and SuntecReit (-1.32%).

The most active index warrants by value today were HSI23000MBePW130627 (-6.34%), HSI22800MBeCW130530 (+10.75%) and HSI22400MBeCW130627 (+2.67%).

The most active stock warrants by value today were UOB MB eCW130802 (-8.03%), DBS MB eCW131001 (+4.97%), and DBS MB ePW130909 (-5.93%).

*Please note the Real Estate, Consumer Services and Utilities sectors will be the focus of SGX My Gateway Educational events in 2Q13.

Shayne Heffernan Ph.D.
Economist/Hedge Fund Manager

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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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