Embed Size (px)
Citation preview
MalaysiaSingaporeIndonesiaThailandVietnamPhilippinesGreater ChinaIndia
RegionalEconomics
StrategySMID
Automobiles Gaming
Consumer DiscretionaryConsumer Staples
EnergyPlantations
TelecommunicationsTransportation
Technology
Economics
KEY REPORT• Thai Macro - No Place Like Home
KEY REPORTS• 2017 Outlook & Lookouts - Of politics & policies• Safety and strength in numbers
KEY REPORTS• 2017 Outlook & Lookouts - Of politics & policies• Safety and strength in numbers
CHUA HAK BIN
KEY REPORTS• ASEAN: Synchronization and Rate Hike Cycles• China’s Rising Wall of Savings• Singapore’s Broadening Growth Recovery
SUHAIMI ILIAS
CHIEF ECONOMIST
ZAMROS DZULKAFLI
MALAYSIA
TIM LEELAHAPHAN
+65 6231 5830
+603 2297 8682
+603 2082 6818
+66 2658 6300 ext 1420
REGIONAL THEMATIC
THAILAND
KEY REPORT• Vietnam - Mixed 1Q17 Macros
LEE JU YE
KEY REPORTS• ASEAN: Synchronization and Rate Hike Cycles• China’s Rising Wall of Savings• Singapore’s Broadening Growth Recovery
LIEN LE HONG
VIETNAM
+65 6231 5844
+84 844 55 58 88 ext 8181
REGIONAL
Economics
Strategy
KEY REPORT• Singapore Market Monitor - Growth Ahoy!
KEY REPORT• 2017 Outlook & Lookouts - Of politics & policies
KEY REPORTS• Brexit Five Things We Think We Think• Another Five Things We Think We Think• ASEAN Infrastructure - The New Old Thing
WILLIE CHAN
KEY REPORTS• Juggling balls in two different worlds• Of Mandates, Currencies and Capital Controls• Swaggy Charts, New Intrigues – Eight Charts that
Go Bump
SADIQ CURRIMBHOY
REGIONAL
WONG CHEW HANN
MALAYSIA
NEEL SINHA
+852 2268-0631
+65 6231 5836
+603 2297 8686
+65 6231 5838
REGIONAL
SINGAPORE
KEY REPORT• Vietnam - Mixed 1Q17 Macros !
KEY REPORT• India Strategy - Demonetisation impact, worst not
over YET
KEY REPORTS• Six-for-17: Another year of low expectation• The Myopic Eye: Monthly flows and ideas
ISNAPUTRA ISKANDAR
KEY REPORT• Indonesia Strategy - A New Chapter
MARIA LAPIZ
THAILAND
JIGAR SHAH
INDIA
LIEN LE HONG
+62 21 8066 8680
+662 257 0250
+91 22 6632 2632
+84 844 55 58 88 ext 8181
REGIONAL
VIETNAM
Strategy
SMID
KEY REPORT• Indonesia Strategy - A New Chapter
KEY REPORTS• Six-for-17: Another year of low expectation• The Myopic Eye: Monthly flows and ideas
KEY REPORTS• ASEAN Small & Mid-Caps (SMID) - Beta Mind The
Alpha • ASEAN Small & Mid-Caps (SMID) - Casual dining and
retail therapy in Manila
WONG CHEW HANN
KEY REPORT• 2017 Outlook & Lookouts - Of politics & policies
NEEL SINHA
REGIONAL
MARIA LAPIZ
THAILAND
ISNAPUTRA ISKANDAR
+603 2297 8686
+65 6231 5838
+662 257 0250
+62 21 8066 8680
MALAYSIA
INDONESIA
KEY REPORT• Vietnam - Mixed 1Q17 Macros !
KEY REPORT• India Strategy - Demonetisation impact, worst not
over YET
JIGAR SHAH
INDIA
LIEN LE HONG
+91 22 6632 2632
+84 844 55 58 88 ext 8181
VIETNAM
SMID
Automobiles
KEY REPORT• Philippines Automotive
KEY REPORTS• ViTrox Corporation - Level up!• V.S. Industry - Dusting off the competition • Semiconductor - Opportunities favour the ready
KEY REPORTS• China Auto OEM - Five Lessons From China’s
Smartphone Success Story• Regional Auto - Proton-Geely eyes the ASEAN region
ISNAPUTRA ISKANDAR
KEY REPORT• Indonesia Strategy - A New Chapter
KA LEONG LO
CHINA
HONG KONG
IVAN YAP
MALAYSIA
KATHERINE TAN
+62 21 8066 8680
+852 2268 0630
+603 2297 8612
+63 2 849 8843
INDONESIA
PHILIPPINES
KEY REPORT• China Auto OEM - Five Lessons From China’s
Smartphone Success Story
KEY REPORT• India Strategy - Demonetisation impact, worst not
over YET
JIGAR SHAH
INDIA
BENJAMIN HO
+91 22 6632 2632
+852 2268-0632
CHINA
HONG KONG
Automobiles
Gaming
KEY REPORT• Wynn Macau - Dealt a bad hand • MGM China - Mass Market Gainer, U/G HOLD
KEY REPORTS• Malaysia Casinos - Winner winner chicken dinner in
the year of the rooster• Genting Malaysia - Counting our winnings first• Genting Bhd - Laggard play to GENM and GENS
ROMMEL RODRIGO
KEY REPORT• Bloomberry Resorts - Winner in the gaming sector
SAMUEL YIN SHAO YANG
REGIONAL
SONIJA LI
CHINA
HONG KONG
+63 2 849 8839
+603 2297 8916
+852 2268 0641
PHILIPPINES
Consumer Discretionary
KEY REPORTS• Gudang Garam - Still Shining• Ramayana Lestari - Heating Up
KEY REPORTS• Hengan Intl - Market ignoring positives brewing• Hengan Intl - Transformation on track, but more
patience needed; 2H story• Uni-President China - U/G on better opex control
and easing competition
KEY REPORTS• SCC: Trade this white elephant• Six-for-17: Another year of low expectation• DTAC: No Need for Pessimism
KA LEONG LO
KEY REPORTS• China Auto OEM - Five Lessons From China’s
Smartphone Success Story• Regional Auto - Proton-Geely eyes the ASEAN region
MARIA LAPIZ
THAILAND
JACQUELINE KO
CHINA
HONG KONG
JANNI ASMAN
+852 2268 0630
+662 257 0250
+852 2268 0633
+62 21 8066 8687
CHINA
HONG KONG
INDONESIA
Consumer Discretionary
KEY REPORTS• Philippines Consumer - Consumption story intact• San Miguel Pure Foods Co - Undervalued, despite
rebound
SAMUEL YANG
KEY REPORTS• Malaysia Casinos - Winner winner chicken dinner in
the year of the rooster• Genting Malaysia - Counting our winnings first• Genting Bhd - Laggard play to GENM and GENS• Media - A step closer to a special div?
LOVELL SARREAL
PHILIPPINES
+603 2297 8916
+63 2 849 8841
MALAYSIA
KEY REPORTS• China Sportswear - Loose Footing (initiation)• ANTA Sports Products - Best Foot Forward
KEY REPORT• India Strategy - Demonetisation impact, worst not
over YET
JIGAR SHAH
INDIA
BENJAMIN HO
+91 22 6632 2632
+852 2268-0632
CHINA
HONG KONG
Consumer Discretionary
KEY REPORTS• Malaysia Consumer - 2017, in the bag?• AEON Co. - Troubled retail business
KEY REPORTS• Hotel sector: Growth momentum to pick up• Healthcare: Social Security Scheme rate hike
JADE TAM
KEY REPORT• Media - A step closer to a special div?
THAILAND
KEVIN WONG
MALAYSIA
+603 2297 8687
+662 658 6300 ext 1393
+603 2082 6824
MALAYSIA
SITTICHAIDUANGRATTANACHAYA
Consumer Staples
KEY REPORTS• Gudang Garam (GGRM) - Still Shining• Ramayana Lestari (RALS) - Heating Up
KEY REPORTS• Hengan International - Market ignoring positives
brewing; U/G to BUY • Hengan International - Transformation on track, but
more patience needed; 2H story• Uni-President China - U/G on better opex control
and easing competition
KEY REPORTS• SCC: Trade this white elephant• Six-for-17: Another year of low expectation• DTAC: No Need for Pessimism
LIEN LE HONG
KEY REPORTS• VNM - Solid Growth, Wider Margin, U/G to BUY • DHG - Ahead of Fundamentals, D/G to SELL• Vietnam - Mixed 1Q17 Macros
MARIA LAPIZ
THAILAND
JACQUELINE KO
CHINA
HONG KONG
JANNI ASMAN
+84 844 55 58 88 ext 8181
+662 257 0250
+852 2268 0633
+62 21 8066 8687
VIETNAM
INDONESIA
Consumer Staples
KEY REPORTS• Philippines Consumer - Consumption story intact• San Miguel Pure Foods Co - Undervalued, despite
rebound
LOVELL SARREAL
PHILIPPINES
+63 2 849 8841
KEY REPORTS• Bison - Small but potent• Consumer - New Price Control and Anti-Profiteering
Regulations • Consumer - What is in the store?
LIEW WEI HAN
MALAYSIA
+603 2297 8676
KEY REPORTS• China Sportswear - Loose Footing (initiation)• ANTA Sports Products - Best Foot Forward
BENJAMIN HO
+852 2268-0632
CHINA
HONG KONG
Energy
KEY REPORTS• PVD - Cut Earnings; D/G to SELL • HT1- Adverse SOE Impact
KEY REPORT• India Strategy - Demonetisation impact, worst not
over YET
KEY REPORTS• China Oil & Gas - The tide is turning…• China Oil & Gas - 7th Inning Stretch: D/G to Neutral• Regional Oil & Gas - See the Forest for the Trees
LIAW THONG JUNG
KEY REPORTS• Oil & Gas: Upgrade to POSITIVE• Alam Maritim: Sees red in 1Q16 • Wah Seong: Nord Stream 2 game changer • MMHE: Take profit. D/G to SELL
HOWARD WONG
REGIONAL
JIGAR SHAH
INDIA
LE NGUYEN CHUYEN
+603 2297 8688
+852 2268 0648
+91 22 6632 2632
+84 844 55 58 88 ext 8082
REGIONAL
VIETNAM
Plantations
KEY REPORT• PP London Sumatra Indonesia - Vintage LSIP
KEY REPORTS• Boustead Plantations – monetisation of assets to
sustain dividends • Bumitama Agri – In a sweet spot• Regional Plantations – 2017 Outlook
LIAW THONG JUNG
KEY REPORTS• Indonesia Strategy - A New Chapter• PP London Sumatra Indonesia - Vintage LSIP• Indonesia Coal - Diversification Into Power
ONG CHEE TING
REGIONAL
ADHI TASMIN
INDONESIA
+62 21 8066 8680
+603 2297 8678
+62 21 8066 8694
INDONESIA
Telecommunications
KEY REPORT• India Telcos - Pain to remain for a while
KEY REPORTS• Telco: Still competitive but normalizing• DTAC: No Need for Pessimism
KEY REPORTS• Alibaba - Investor Day 1: It’s a Whole New World /
Investor Day 2: Unveiling the Data Economy• Regional Telecom - Lighthouse in the Fog
TAN CHI WEI
KEY REPORT• Telcos: Share prices bottoming?
MITCHELL KIM
REGIONAL
MARIA LAPIZ
THAILAND
NEERAV DALAL
+603 2297 8690
+852 2268-0634
+662 257 0250
+91 22 6623 2606
MALAYSIA
INDIA
Telecommunications
KEY REPORTS• Alibaba - Investor Day 1: It’s a Whole New World /
Investor Day 2: Unveiling the Data Economy• Regional Telecom - Lighthouse in the Fog
JEFFREY KWONG
CHINA
HONG KONG
+852 2268 0635
Transportation
KEY REPORT• Airline: Excise tax on jet fuel hiked
KEY REPORT• Westports - Taking a backseat
KEY REPORTS• Aviation - Getting past the Trump’over• MAHB - Modest gain from PSC restructuring• AirAsia - PSC revision a slight impact
NEEL SINHA
KEY REPORT• Singapore Market Monitor - Growth Ahoy!
MOHSHIN AZIZ
REGIONAL
LEE YEN LING
MALAYSIA
SITTICHAIDUANGRATTANACHAYA
+65 6231 5838
+603 2297 8692
+603 2297 8691
+662 658 6300 ext 1393
SINGAPORE
THAILAND
DERRICK HENG
SINGAPORE
KEY REPORTS• Singapore Strategy - The Singapore Fix• Singapore Land Transport - Bus Transition: slight
bump in the road
+65 6432 1446
Transportation
Technology
KEY REPORTS• Greater China Foundry: A Strong Start to the Year…
For Real? • Greater China Tech: Later Arrival of New iPhone?
IVAN YAP
KEY REPORTS• ViTrox Corporation - Level up!• V.S. Industry - Dusting off the competition • Semiconductor - Opportunities favour the ready
STEFAN CHANG
REGIONAL
+603 2297 8612
+852 2268 0675
MALAYSIA
