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ASEAN STOCK WATCH Asean Affairs  7 May 2014 



Singapore

07 May 2014

The Straits Times Index (STI) ended -9.13 points lower or -0.28% to 3236.43, taking the year-to-date performance to +2.26%.

The FTSE ST Mid Cap Index declined -0.10% while the FTSE ST Small Cap Index declined -0.42%. The top active stocks were DBS (-0.64%), SingTel (unchanged), Wilmar International (-0.60%), UOB (-0.05%) and OCBC Bank (+0.41%).

The outperforming sectors today were represented by the FTSE ST Technology Index (+1.12%). The two biggest stocks of the FTSE ST Technology Index are Silverlake Axis (+2.34%) and STATS ChipPAC  (unchanged). The underperforming sector was the FTSE ST Consumer Goods Index, which declined -0.96% with Wilmar International ’s share price declining -0.60% and Thai Beverage ’s share price declining -2.46%. The FTSE ST Oil & Gas Index gained +0.02%.  The FTSE ST Telecommunications Index declined -0.04%.

The three most active Exchange Traded Funds (ETFs) by value today were the DBXT MSCI Indonesia ETF (-0.49%), IS MSCI India (-1.08%), SPDR Gold Shares (+0.13%).

The three most active Real Estate Investment Trusts (REITs) by value were CapitaMall Trust (+0.50%), Ascendas REIT (unchanged), CapitaCommercial Trust (+1.24%).

The most active index warrants by value today were HSI21600MBePW140627 (+12.40%), HSI21800MBeCW140627 (-16.96%), HSI21800MBePW140529 (+17.95%).

The most active stock warrants by value today were DBS MB eCW140901 (-3.18%), KepCorp MBeCW140901 (+2.84%), UOB MB eCW140801 (-3.18%).

Singapore Stock Market
                             Wednesday                Tuesday
*ST Index          3,236.43  -9.13     3,245.56  +3.96
Volume:                  1,270.4M                  1,253M
Value:                   $1,010.3M                $670.1M
Gainers/Losers:         152/257                  240/186


Indonesia

Indonesia's forex reserves hit a one-year high in April

Indonesia's foreign reserves at the end of April were at their highest level in a year, the country's central bank said on Wednesday.

The reserves were $105.6 billion, compared with $102.6 billion the previous month and June's $98.1 billion when offshore investors dumped Indonesian assets on worries about the country's ballooning current-account deficit.

The last time the reserves were higher was in April 2013, when they were $107.27 billion.

A Reuters poll of analysts showed Bank Indonesia will keep its key reference rate unchanged at 7.50 percent on Thursday's policy meeting.


Thailand

Thai bourse welcomes secured loan provider SAWAD

 
BANGKOK, May 7, 2014 - The Stock Exchange of Thailand's (SET) welcomes Srisawad Power 1979 pcl, Thailand's loan service provider to retail customers, on its main board on May 8, under the ticker symbol "SAWAD," with a market capitalization at the initial public offering (IPO) price of THB 6.9 billion (approx. USD 212 million).
 
SET Executive Vice President Chanitr Charnchainarong said that SAWAD would be  listed in SET's Finance and Securities sector on May 8.
 
SAWAD provides secured loans against all types of used vehicle, home and land,  hire purchase of new motorcycle, as well as unsecured personal loans by providing convenient, fast and fair services. It has a total of 602 branches in greater Bangkok , as well as various provinces nationwide.
     
It has a paid-up registered capital of THB 1 billion, consisting of 750 million existing shares and 250 million newly-issued shares, with a par value of THB 1.00 each. The company offered the new shares through an IPO at THB 6.90 per share during April 28-30, for the total of THB 1.73 billion. Asia Plus Advisory Co.,Ltd. is the company's financial advisor, while  Asia Plus Securities pcl is its lead underwriter.
 
Doungchai Kaewbootta, SAWAD's managing director, said "The listing on SET is a  significant step of the company to grow sustainably. The fund raised will be used to expand loans and repay some debts. It will also be used for working capital, while strengthening the financial status and upgrading the public company's best practice. This will fulfill our future expansion into the automobile loan market."
 
SAWAD's three major shareholders after the IPO are Kaewbootta family (60.51 percent), Mongkol Soontornsuk (3.75 percent), Weerasak Kunpalin and Sutthisak Chaipradit (1.50 percent each). The IPO price had a price-to-earnings ratio (P/E) of 11.9 times, calculated by using its 2013 net profit, divided by the number of fully-diluted shares, representing earnings per share of THB 0.58. The P/E ratio was lower than 15.59 times, an average P/E ratio of the total SET-listed company (during March 19, 2014 - April 18, 2014). SAWAD's dividend policy is to pay no less than 40 percent of net profits after tax and reserves.
 
Trading Summary

As of   6  May  2014         Unit: M.Baht
Type                           Buy                 Sell                      Net
Institution             3,615.17          3,774.32               -159.14     
Proprietary           3,495.78          3,708.64               -212.86     
Foreign                7,387.60           9,406.11            -2,018.51     
Individual            18,330.65        15,940.14              2,390.51     
Total Trading Value     32,829.21 M.Baht             


Vietnam

Vietnam index up 0.7 pct at midday in thin trade


Vietnam's benchmark VN Index  rose 0.69 percent at the break on Wednesday in thin trade as investors cautiously picked up shares following recent declines.
    
"Long-term investors saw an opportunity to collect equities that were previously too high to purchase, but only at a low volume as they expected the index would further fall," said analyst Nguyen The Minh at Viet Capital Securities.

Top insurer Baoviet Holdings  was among the top gainers. Its shares climbed 4.45 percent to 32,500 vietnam dong ($1.54) each after closing on Tuesday at the lowest level since Dec. 2012, Reuters data showed.
   
 Dairy product maker Vinamilk  also edged up 1.5 percent and food producer Masan Group   rose 2.19 percent.      Trading volume reached 26.8 million shares, well below the five-day average of 62 million, Reuters data showed.      
    
On Tuesday the index fell to a near three-month low on widespread selling by retail investors.  

Here is a snapshot of the VN Index  at midday (0431 GMT).

                        VN Index       558.93             
                PREV. CLOSE       555.11             
                   % CHANGE        0.69%             
                                                   
                     HIGH       560.18             
                      LOW       553.21             
                                         

Asean

SE Asia Stocks-Thai shares pare losses despite political woes


Thai shares posted modest losses on Wednesday after a court ruled Prime Minister Yingluck Shinawatra would have to step down but many other ministers could remain in office while stocks in Indonesia rebounded ahead of a central bank policy meeting.
    
The SET index   ended the day down 0.1 percent, paring much of its losses from before the court verdict on worries Thailand could face a political vacuum if the entire government was forced out.
    
The constitutional court found Yingluck guilty of violating the constitution on Wednesday and said she had to step down, throwing the country into further political turmoil.
     
The baht   edged up after the Yingluck verdict as most emerging Asian currencies gained. Analysts said investors were cautious about Thai financial markets as there was no sign of political stabilisation.
    
Losses were led by large caps such as Advanced Info Service  and PTT Exploration and Production  while low valuations in shares of growth firms lured bargain hunters, including retailer CP All    which rebounded almost 2 percent.
    
Broker Nomura Pattanasin's analyst Koraphat Vorachet expects market weakness, with near-term support levels for the SET index seen at 1,380, then 1,361.
   
"Political risks overall are higher after the court verdict. Stock market investors may need to see new government before adding on to risk positions, and it's still uncertain if the election will go as planned in July," he said.
   
 Indonesian shares  gained 0.6 percent as investors bought banking shares such as Bank Rakyat Indonesia   amid expectations the central bank would keep interest rates unchanged at its meeting on Thursday.  
    
Malaysia  ended flat while the Philippines  closed near its intraday low amid domestic-led selling.
    
Foreign investors bought Malaysian shares worth a net 34.6 million ringgit ($10.63 million) and Philippine and Indonesian stocks worth a net 699 million peso ($15.77 million) and 339.8 billion rupiah ($29.50 million), respectively, stock exchange and Thomson Reuters data showed.
      
SOUTHEAST ASIAN STOCK MARKETS
 
 Market                      Current     Prev Close    Pct Move
 TR SE Asia Index*    418.31        418.92          -0.15
 Singapore                3236.43       3245.56         -0.28
 Kuala Lumpur          1860.43       1860.43          0.00
 Bangkok                  1402.61       1404.01         -0.10
 Jakarta                     4862.07       4834.47        +0.57
 Manila                      6748.51       6765.93        -0.26
 Ho Chi Minh              559.97         555.11        +0.88



 
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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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