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ASEAN STOCK WATCH Asean Affairs   22  November  2010

ASEAN Markets look set to rally, China is the only concern.‏

Shayne Heffernan

ASEAN Markets look set to rally, China is the only concern.

Black Friday in the USA, when Americans traditionally get serious about holiday shopping, could sway stocks next week if it looks like the economy will get a pop from consumer spending, The Irish situation regarding banking has been solved and all looks set for a rally.

China's fiscal policy is the only concern at this stage, Hong Kong may come under pressure today from new rules on property speculation.

The best buys in ASEAN this week are:


thailands Major companies are growing very fast, Companies listed on The Stock Exchange of Thailand (SET) posted 9M /2010 net profits of THB436 billion (approx. USD14.52), an increase of 32.41% year-on-year (y-o-y), with total sales of THB5.37 trillion, a 18.30% rise y-o-y.

The top three industry groups in terms of absolute amounts and in descending order were the Resources, Financials, and Property and Construction Industry Groups. The top five firms, in descending order of profitability in absolute amounts were PTT, PTTEP, SCC, BANPU and BBL.

Thai listed firms' operating results for 9M/2010, as of September 30, posted a rise in net profits in every Industry Group, for total net profits of THB435.62 billion (approx. USD14.52 billion), up 32.41% from last year's net profits of THB329.00 billion (approx. USD10.67 billion). In Q3/2010, listed companies posted net profits of THB151.53 billion (approx. USD5.05 billion), a 25.17% increase y-o-y, with total sales of THB1.80 trillion (approx. USD59.92 billion), a 8.89% rise, revealed SET President Charamporn Jotikasthira. 9M/2010,

Of the 502 listed firms on SET, including 27 property funds, 465, or 92.63%, had reported their operating results for 9M/2010 by September 30. Of these, 375 firms posting net profits, while 90 recorded net losses, for a profit: loss ratio of 80.64:19.35, noted Mr. Charamporn.


Shayne Heffernan of Ebeling Heffernan has put a Price Target on Yee Lee Corp. $1.50 in 2011.

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

This is an International Award Winning Company.

Palm Oil and the other Oils produced by Yee Lee have seen strong demand and strong price increases.

Diversification in to the other retail and industrial products has set a secure future.

Yee Lee Corporation Bhd group (YLC) began its core business as an edible oil repacker in Malaysia in 1968. Since then it has grown into a fully integrated manufacturer and distributor. YLC group of companies are involved in various sectors such as manufacturing, marketing and distribution of fast moving consumer products, plantation and eco-tourism.


Singapore’s economy expected to grow 15% in Y 2010

The Singapore government said on Thursday that it expects the Singapore economy to grow by around 15.0% in Y 2010 and by 4.0 to 6.0% Y 2011.

Preliminary estimates showed that the Singapore economy grew at a slower pace by 10.6% on a Year-on-Year basis in Q-3 of Y 2010, moderating from the record expansion of 19.5% in, Singapore’s Ministry of Trade and Industry (MTI) said in a statement.

Growth momentum, as measured on a seasonally adjusted annualized quarter-on-quarter basis, fell sharply by 18.7%, a reversal from the growth of 27.3% in the prior Q.

Palm Oil and Palm Oil Producers to bounce back 4-5% this week. On the Palm Oil Hot List are

First Resources Ltd., an Indonesian palm-oil producer, dropped 4.1 percent to S$1.40. Golden Agri-Resources Ltd. , the world’s second-biggest palm-oil producer, retreated 4 percent percent to 73 Singapore cents.

Indofood Agri Resources Ltd., the palm-oil unit of Indonesia’s biggest noodle maker, fell 4.6 percent to S$2.69.

Ebeling Heffernan strong buy, Singapore listed Sembcorp Marine’s subsidiary PPL Shipyard has signed a US$195 million contract to sell a jack-up rig, already under construction, to Transocean Ltd, the world’s largest drilling contractor and the leading provider of drilling management services worldwide.

The jack-up rig is based on PPL Shipyard’s latest proprietary design, the Pacific Class 400 and is scheduled for delivery in the fourth quarter of 2011. On completion, the rig will be capable of operating in waters of 400 feet and drill to depths of 30,000 feet. Equipped with the latest drilling equipment, the rig will have improved drilling efficiencies with offline handling features and simultaneous operations support. The rig is also equipped with increased accommodation for 150 men instead of 120 men as in the earlier series of Pacific Class 375 jack-up rigs.

Ebeling Heffernan strong buy Olam International is expanding food, rubber and fertiliser production in Africa.

Gabon has signed investment contracts worth over $1.7-billion with the Singapore-based multinational Olam International Limited.

The money will be spent on a new fertiliser production plant in the free trade zone in Port Gentil, palm oil and rubber plantations and infrastructure projects.

The deal follows a recent trip by president Ali Bongo to Singapore, which was aimed at strengthening economic relations between the two countries.

President Bongo is striving to attract a mix of investors to boost his government’s modernisation and diversification programme.



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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