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ASEAN STOCK WATCH Asean Affairs   26  November  2010

ASEAN to Rally

Shayne Heffernan

ASEAN Markets will look to extend gains today as positive sentiment from the USA lifts regional export growth.

Palm Oil Stocks Univanich, Yee Lee and Golden Agri look like good buys, Indonesian producer Arrow Resources should also be a good buy this week.

SunVic , Sunpower and Hu An stand out in Singapore.

PTT and PTTEP look like good buys in Bangkok.

In Kuala Lumpur the Malaysia stock market ended higher on Thursday.

The Kuala Lumpur Composite Index (KLCI) closed at 1,496.49 up 7. 95 points or 0.53 percent, and the Emas was at 10,155.31 up 61.97 points or 0.61 percent.

Carlyle has offered to acquire QSR Brands for about RM1.94 billion, topping a previous offer from a company linked to Malaysian tycoon Halim Saad.

Carlyle Asia's offer of RM6.70 per share for the majority owner of KFC and Pizza Hut in Malaysia is 20 per cent more than Idaman Saga's offer of RM5.60 ringgit per share earlier this week.

Bursa Malaysia's Industrial Index increased 12.51 points to 2,848.55, the Finance Index advanced 29.859 points to 13,656.8 and the Plantation Index expanded 50.25 points to 7,707.63.

The FBM Emas Index increased 61.97 points to 10,155.31 while the FBM70 gained 98.24 points to 10,478.15. Gainers thumped losers 463 to 291 while 287 counters were unchanged, 347 untraded and 42 others were suspended.

Turnover amounted to RM1.424 billion shares compared with Wednesday's 1.065 billion shares valued at RM1.812 billion.

Volume leaders Talam Corporation, Compugates, Saag Consolidated and Jo Tech-Wa, were flat at 10 sen, 6.0 sen, 7.0 sen and 3.5 sen, respectively.

Heavyweights, CIMB increased five sen to RM8.39, Sime Darby added four sen to RM8.73, Maybank was flat at RM8.70 while Maxis slipped two sen to RM5.28. Volume on the main market declined to 853.466 million shares, valued at RM1.388 billion, from the 915.791 million shares, valued at RM1.771 billion, transacted Wednesday.

Turnover on the ACE market dwindled to 70.710 million shares, worth RM20.115 million, from Wednesday's 81.488 million shares worth RM27.211 million. However, volume in warrants rose to 73.423 million units, worth RM12.859 million, from 64.475 million units, worth RM11.579 million, previously.

Consumer products accounted for 38.206 million shares traded on the Main Market, industrial products 282.806 million, construction 102.466 million, trade and services 198.242 million, technology 14.748 million, infrastructure 12.963 million, finance 44.647 million, hotels 4.511 million, properties 117.271 million, plantations 29.775 million, mining 748,500, REITs 7.060 million and closed/fund 24,000.

Turnover decreased to 1.00 billion shares valued at 1.42 billion ringgit Malaysia(453.17 million U.S. dollars), compared with 1.06 billion shares valued at 1.81 billion ringgit Malaysia( 576.80 million U.S. dollars) on Wednesday.

Singapore rose 22.22 points or 0.71 percent on Thursday with the benchmark Straits Times Index (STI) closing at 3,159.23 points.

The overall volume stood at 1.1 billion shares worth 1.16 billion Singapore dollars (about 0.89 billion U.S. dollars).

The Stock Exchange of Thailand (SET) composite index on Thursday moved down 9.55 points or 0.95 percent to close at 996. 42 points.

Top five most active values were as follows; PTT closed at 302.00 baht, down by 8.00 or 2.58 per cent. TRUE closed at 6.00 baht, down by 0.50 or 7.69 per cent. IVL remained at 49.50 baht. BANPU closed at 772.00 baht, down by 24.00 or 3.02 per cent. TMB closed at 2.24 baht, up by 0.14 or 6.67 per cent.

Kasikornbank plans to concentrate on Asean markets for growth in its corporate banking business next year, says executive vice-president Vasin Vanichvoranun.

The creation of the Asean Economic Community by 2015 will help spur new trade and investment flows across the region, presenting new growth opportunities for Thai companies as well as KBank, he said. KBank, Thailand's third-largest bank with 1.5 trillion baht in assets as of October, will support inbound and outbound investment across the region.

Key target markets include Vietnam and Indonesia as well as China and Japan. Mr Vasin said China has strong demand for both inbound and outbound investment, while sentiment among Japanese investors has increased in recent months. "While we are positioned as a local financial institution, we plan to compete with other regional and international banks the best we can," he said.

KBank plans to boost its trade finance business next year by 17% to 2.1 billion baht. Growth this year will be 10%. The bank's corporate loan portfolio is expected to rise to 330 billion baht by the end of next year, up 5% from now, with net income growth of 19%. Mr Vasin said KBank also hoped to boost its position as the "first selected bank" among clients to 26% in 2011 from 24% this year. Some 7.14 billion shares worth 42.04 billion baht (about 1.40 billion U.S. dollars) changed hands.

Indonesia shares index rose by 43.236 points or 1.18 percent to close at 3,702.013 points on Thursday. Palm oil companies: PT Astra Agro Lestari (AALI IJ), the nation’s largest listed plantation company by market value, gained 1.2 percent to 24,600 rupiah.

PT Bakrie Sumatera Plantations (UNSP IJ) rose 4 percent to 395 rupiah, the most since Nov. 10. Palm oil futures advanced 3.2 percent to 3,270 ringgit ($1,043) a metric ton. PT Energi Mega Persada (ENRG IJ), an Indonesian oil and gas producer, jumped 21 percent to 139 rupiah, the steepest increase since May 26.

The shares rose on expectation the purchase of a 10 percent stake in an offshore gas block from Inpex Corp. will boost earnings, according to Muhamad Sugiarto, an analyst at PT Lautandhana Securindo. Energi Mega’s unit has completed the transfer of the stake in the Masela Block from Inpex, the company said yesterday. PT Japfa Comfeed Indonesia (JPFA IJ), an animal-feed producer, climbed 2.1 percent to 3,650 rupiah. J

apfa got a 1 trillion rupiah ($112 million) loan from PT Bank Central Asia to fund investments and for working capital, Investor Daily Indonesia reported, citing Japfa Corporate Secretary Christine Wibisono. Wibisono and Raymon Yonarto, Bank Central Asia corporate secretary, couldn’t be reached at their offices. As many as 136,635 transactions were booked, involving 9.9 billion shares worth 5.1 trillion rupiah (about 570 million U.S. dollars).

In Manila the Philippine Stock Exchange index lost 27.05 points to 4,097.49, while the broader all-share index was up by 0. 39 percent or 11.19 points to 2,816.30.

Vietnam's stock market index, VN-Index, closed at 439. 85 points on Thursday, up 5.37 points, or 1.24 percent, against the previous trading day. A total of 34.20 million shares worth 691.24 billion Vietnamese dong (VND)(35.45 million U.S. dollars) changed hands at the Ho Chi Minh City Stock Exchange. Prices of 213 stocks went up, 32 dropped while 30 remained unchanged. Trading volume reached 1.09 billion shares worth 5.34 billion pesos (121 million U.S. dollars).


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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