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ASEAN STOCK WATCH Asean Affairs   12  November  2010

Buying Day in ASEAN Markets

Shayne Heffernan

Another flat to higher days trading in ASEAN today, exchanges are sitting at all time highs and are waiting on a solid lead from China or the USA to head towards the next level.

The numbers and general momentum in both markets are good, today however Analysts over reacted to the CSCO outlook, this had a strong market impact since profit growth for technology companies this reporting period has outperformed the broader S&P 500.

CSCO fell 16% but was trading a touch higher in after hours trading.

Today is a great buying day in ASEAN as markets should open down .5 to 1% PTT, CPF, OCBC, Genting, Golden Agri, Yee Lee, Olam, UVAN are amoung some of the mornings stocks to watch.

Sembcorp Marine, NEPS, PTTEP will make great buying early in the day.

Dow Jones 11,283.10 -73.94 (-0.65%)

S&P 500 1,213.54 -5.17 (-0.42%)

Nasdaq 2,555.52 -23.26 (-0.90%)

In Singapore the Straits Times Index STI closed 4.15 points higher at 3,293.39.

Investors in Singapore remained cautiously optimistic the G20 summit in Seoul, which begin on Thursday, might yield some positive cues on the outlook for the global economic recovery.

The Winners, Ebeling Heffernan strong buy OCBC rose 3.1% to S$10.24 as investors remained bullish on the bank’s fourth-quarter prospects following stronger-than-expected third-quarter results.

The other Ebeling Heffernan strong buy Golden Agri-Resources gained 1.3% to S$0.76 after it reported strong earnings for the third quarter.

Singapore Telecommunications rose 1.8% to S$3.31 despite its second-quarter net profit sliding 6.7 percent from last year to S$892 million.

The Losers, Wilmar International dropped 3.2% to S$6.30, extending the palm oil group’s losses from Wednesday after its weak third-quarter earnings.

Overall, losers outpaced gainers 269 to 238. Overall volume traded on the Singapore Exchange was 2.03 billion shares worth S$2.15 billion.

In Bangkok the Stock Exchange of Thailand SET index closed at 1,029.86, down 12.42 or 1.19% in trade worth 40.09 billion baht on Thursday.

PTT, CPF and PTTAR look like great buying during the day.

Charoen Pokphand Foods Plc (CPF) has set aside more investment budget for overseas operations next year as part of its plans to reap the benefits from the strong baht.

The SET-listed flagship of the agribusiness and food conglomerate CP Group has set its 2011 investment budget at 6 billion baht, of which 4 billion would finance its farms and farm-related businesses in several developing markets, especially India, Russia, and Turkey, where demand for meat remains strong and market potential is high for 2010, of which domestic and overseas operations shared an equal amount.

“Every country that CPF has invested in still has much room for growth for the animal farming business due to their large populations and low per-capita meat consumption,” said CPF president and chief executive Adirek Sripratak.

“The offshore investments have contributed substantial revenue to the company this year and it would continue to play a significant role in our next year’s performance.”

CPF said its total sales in the first nine months of the year were 141.76 billion baht, an increase of 19% from a year earlier. Net profit rose 42% year-on-year to 11.51 billion baht. Sales from overseas operations increased to 27% of total sales, while revenue from exports accounted for 13%. The remaining 60% came from domestic sales.

Mr Adirek expects sales revenue will be 185 billion to 190 billion baht by the end of this year, up from 165 billion in 2009 thanks to not only strong results of its overseas operations but also high meat prices, especially of shrimp products.

Shrimp prices have increased 30% this year and are expected to remain high over the last quarter due to falling supply from Indonesia, Mexico and Brazil following a viral outbreak. Natural disasters in Vietnam and China should also lift the demand and prices of shrimp by 10-15% in the first quarter of next year, said Pisit Ohmpornnuwat, executive vice-president.

CPF has benefited from these circumstances as shrimp exports this year are expected to reach 52,000 tonnes, up from 34,000 tonnes last year. Its main markets are the European Union (35%), Japan (30%), and the United States (15-20%), with the rest in Asia.

PTL increased to 40.75 baht, up 1.75 baht or 4.49%.

PTTAR decreased to 35.50 baht, down 1.25 baht or 3.40%.

PTT decreased to 333.00 baht, down 4.00 baht or 1.19%.

BANPU decreased to 796.00 baht, down 8.00 baht or 1.00%,

CPF decreased to 22.10 baht, down 0.60 baht or 2.64%.

In Manila the Philippine Stock Exchange index shed 53.16 points or 1.27 percent to 4,144.41, sliding for the fifth consecutive session.

Value turnover was heavier at P7.6 billion compared to the value turnout in the last five days of profit-taking. All counters were in the red but the financial, holding firms, property and industrial counters were the most battered.

The Losers, The Metro Pacific Investments Corp., Philippine Long Distance Telephone Co., Metropolitan Bank & Trust Co., Ayala Corp., Energy Development Corp., International Container Terminal Services Inc., Megaworld Corp., DMCI Holdings Inc., Banco de Oro Unibank, Philippine National Bank, Bank of the Philippine Islands, Filinvest Land Inc., Manila Electric Co., Ayala Land Inc. and SM Investments Corp.

The Winners, Alliance Global Group Inc., Aboitiz Power Corp., Cebu Air Inc., SM Prime Holdings and Aboitiz Equity Ventures Inc. bucked the day’s downturn.

The local stock market defied a relative firm Asian equities market which was boosted by the rise in commodity stocks. Overnight, Wall Street also showed a modest rise in risk appetite that brought the Dow Jones Industrial index 10.29 points or 0.09 percent higher to 11,357.04.

Accenture, a leading business process outsourcing and information technology company, is opening three new facilities in the Philippines as it remains optimistic about its prospects in the country.

The expansion brings the number of the company’s Philippine facilities to 13 and raised its staff headcount to 20,000.

“We’re increasing our headcount from 14,000 to 20,000 in a matter of months, not years. We have not one but three new facilities. That’s how much we believe in our growth prospects here,” company chairman and CEO William D. Green told reporters in a briefing.

The new facilities are in McKinley Hill in Fort Bonifacio, Taguig City; Eastwood Cyberpark, Quezon City; and Cebu City.

The McKinley Hill facility has opened while the other two will be fully operational by the end of the year.

Accenture is celebrating its 25th anniversary in the Philippines this year.

“As our third-largest geography, after India and the United States, the Philippines is a strategic part of Accenture’s global operations,” Green said.

“The breadth of services that are supported out of the Philippines not only allows us to meet the needs of our clients, but also to provide varied career opportunities for Filipino professionals to showcase to the world their tremendous skills,” he said.

Lito Tayag, country managing director for the Philippines, said that the Philippines has enough talent to fill the need for new staff.

“There were 500,000 university graduates this year alone. We are continuing our work in campuses to ensure that students have the right skill sets which our industry needs,” Tayag said.

Arrow Resources Development, Inc. (OTCBB: ARWD) along with PT Tiga Daun (The Companies), its joint venture partner with offices in Jakarta, Indonesia , is currently composing a deployment plan for the additional 500,000 hectares (ha) of critical land which the Companies are to receive.

The Companies are committed to continue with its mandate to responsibly develop the land through environmental restoration and sustainable agriculture growth once they commence operations. PT Tiga Daun, along with GMPLH, will commercially develop natural resources in Indonesia on land which has been categorized as environmentally “critical land” by the Indonesian government due to deforestation by local farmers and predatory logging companies over time.

For more information about the company, please visit their website at About Arrow Resources Development, Inc.

Arrow Resources Development, Inc. develops and coordinates corporate operations, finance, sales and marketing activities along with the administration of the corporate citizenship programs for natural resource development companies in the Asian market.

Its initial relationship with Arrow Pacific Resources Group Limited ( BVI Company ) is for the development of large scale plantation and farming operations in Indonesia . Arrow has signed a similar agreement with Gerakan Masyarakat Pelestari Lingkungan Hidup (GMPLH), and GMPLH’s joint venture partner, PT Tiga Daun (Indonesian company owned by Arrow Pacific) for the large scale plantation/farming in Indonesia . Arrow’s agreements entitle the Company to 10% of all gross revenue generated by all their partners’ plantation/farming including any and all sales of natural resources and derivative products.

In Malaysia the Bursa Malaysia fell 0.94% to close at 1513.70.


Trading volume declined to 1576.62 mil shares worth RM2279.65 mil as compared to Wednesday’s 1741.46 mil shares worth RM2274.51 mil.

The Losers were MAYBANK (-17 sen to RM9.10), PPB (-86 sen to RM18.50), TNB (-15 sen to RM8.63), DIGI (-64 sen to RM24.46) and YTLP (-10 sen to RM2.50).

The Winners were AXIATA (+3 sen to RM4.52), YTL (+6 sen to RM8.45) and BJTOTO (+3 sen to RM4.15).

Market breadth was negative with 381 gainers as compared to 447 losers.

The Finance Index lost 0.98% to 13866.82 points, the Properties Index added 0.21% to 1028.67 points and the Plantation Index eased 0.18% to 7857.08 points.

The market traded within a range of 13.72 points between an intra-day high of 1527.42 and a low of 1513.70 during the session.

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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