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75Analysts, sector specialists, economists and strategists
450Stocks covered
8Countries
MalaysiaSingapore IndonesiaThailandVietnamPhilippinesGreater ChinaIndia
RegionalEconomics
FXFixed Income
StrategySMID
AutomobilesBanks
Casinos & GamingConsumer Discretionary
Consumer StaplesHealth Care
IndustrialsPlantationsReal EstateTechnology
TelecommunicationsTransportation
Utilities
ASIAMONEY BROKERS POLL 2018Your vote makes a difference to us
Economics
KEY REPORTS• 2018 Outlook & Lookouts “Keep growing & carry on …”• Politics & Strategy “GE14: Malaysia goes to the poll”• Special Feature “Minimum wage”• Politics & Strategy “GE14: Malaysia votes for change”• Macro & Strategy “GST to be zero-rated”
CHUA HAK BIN
KEY REPORTS• Singapore Economics - MAS Preview: Time to
Normalize• Asia Economics : Trade War: The Battlelines • ASEAN Economics : Investment Revival• ASEAN Economics : Disruption Watch
SUHAIMI ILIAS
CHIEF ECONOMIST
ZAMROS DZULKAFLI
MALAYSIA
+65 6231 5830
+603 2297 8682
+603 2082 6818
REGIONAL THEMATIC
LEE JU YE
KEY REPORTS• Singapore Economics : MAS Preview: Time to
Normalize• Asia Economics - Trade War: The Battlelines • ASEAN Economics : Investment Revival• ASEAN Economics : Disruption Watch
+65 6231 5844
REGIONAL
KEY REPORTS• 2018 Outlook & Lookouts “Keep growing & carry on …”• Politics & Strategy “GE14: Malaysia goes to the poll”• Special Feature “Minimum wage”• Politics & Strategy “GE14: Malaysia votes for change”• Macro & Strategy “GST to be zero-rated”
KEY REPORTS• VNM VN: U/G to BUY on solid topline growth, wider
profit margin• DHG VN: Runing ahead of fundamentals, D/G to SELL• PNJ VN: Strong sales & margins
LIEN LE HONG
VIETNAM
+84 844 55 58 88 ext 8181
Economics
KEY REPORTS• FX Insight : MYR – “Cautiously” steady• FX Insight : Monetary Policy Unwind – How Soon ?• Asia FX Fortnightly: Temporary Return Of Policy
Divergence Thematic Trade• FX Flash : INR – No Longer In A Sweet Spot
SUPAAT SAKTIANDI
FX STRATEGY & ECONOMICS
+ (65) 6320 1379
FX
KEY REPORTS• Malaysia Election: Volatility is your friend• Bond Market Watch: Concentration on supply would
weigh on the curve• Auction preview 10y GII: Bid with higher risk
premiums
WINSON PHOON
FIXED INCOME
+ 65 6231 5831
Fixed Income
Strategy
KEY REPORTS• Singapore Market Monitor : SG got its groove
back• ASEAN SMIDs: Reversing the reversal of fortune• SATS : Some Ais Kacang and a big bite of Turkish
Delight
KEY REPORTS• 2018 Outlook & Lookouts “Keep growing & carry on …”• Politics & Strategy “GE14: Malaysia goes to the poll”• Special Feature “Minimum wage”• Politics & Strategy “GE14: Malaysia votes for change”• Macro & Strategy “GST to be zero-rated”
KEY REPORTS• Blue Skies. Bring an Umbrella!• "Skewey" Prices & the Case for 1H18 Market
Downside• Six-for-17 : Shuffle, Rumble, Jump the Trouble?
WILLIE CHAN
KEY REPORTS• Chasing laggards. Party Congress• Does No One See the Clouds?• "Skewey" Prices & the Case for 1H18 Market
Downside
SADIQ CURRIMBHOY
REGIONAL
WONG CHEW HANN
MALAYSIA
NEEL SINHA
+852 2268-0631
+65 6231 5836
+603 2297 8686
+65 6231 5838
REGIONAL
SINGAPORE
KEY REPORTS• VNM VN: U/G to BUY on solid topline growth,
wider profit margin• DHG VN: Runing ahead of fundamentals, D/G to
SELL• PNJ VN: Strong sales & margins
KEY REPORTS• India Strategy : Time for a breather; D/G to Neutral
on valuation/EPS miss• Minda Industries (MNDA IN) - Outperformance is
sustainable • Himadri Speciality Chemicals (HSCH)-Pitching for
higher performance
KEY REPORTS• DTAC: Improving signal• Six-for-18: MAKRO: Not a victim but a survivor• Year Ahead Strategy: Don’t Wait 'Till The Dogs Howl• Strategy: Regulatory Changes Call for Safe Haven
ISNAPUTRA ISKANDAR
KEY REPORTS• Six for 18: Indonesia - Positive on market• United Tractors (UNTR IJ) : Twin Strengths• Indocement (INTP IJ): Weakness Continues
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
INDONESIA
VIETNAM
Strategy
KEY REPORTS• Philippine Strategy: Pricing in the Catalysts• Philippines : Tracking Growth (included in Six-for 18:
Cycles, Structures, Breakouts & Breakdowns)• SM Investments : The hand that rocks the cradle
MINDA OLONAN
PHILLIPINES
+63 2 849 8840
Strategy
SMID
KEY REPORTS• DTAC: Improving signal• Six-for-18: MAKRO: Not a victim but a survivor• Year Ahead Strategy: Don’t Wait 'Till The Dogs Howl• Strategy: Regulatory Changes Call for Safe Haven
KEY REPORTS• SATS : Some Ais Kacang and a big bite of Turkish
Delight• ST Engineering : Renaissance Revival• ASEAN SMIDs : Reversing the reversal of fortune
WONG CHEW HANNNEEL SINHA
REGIONAL
MARIA LAPIZ
THAILAND
+603 2297 8686
+65 6231 5838
+662 257 0250
MALAYSIA
KEY REPORTS• Six for 18: Indonesia : Positive on market• United Tractors (UNTR IJ) : Twin Strengths• Indocement (INTP IJ): Weakness Continues
ISNAPUTRA ISKANDAR
+62 21 8066 8680
INDONESIA
KEY REPORTS• 2018 Outlook & Lookouts “Keep growing & carry on …”• Politics & Strategy “GE14: Malaysia goes to the poll”• Special Feature “Minimum wage”• Politics & Strategy “GE14: Malaysia votes for change”• Macro & Strategy “GST to be zero-rated”
KEY REPORTS• VNM VN: U/G to BUY on solid topline growth,
wider profit margin• DHG VN: Runing ahead of fundamentals, D/G to
SELL• PNJ VN: Strong sales & margins
KEY REPORTS• Minda Industries (MNDA IN) : Outperformance is
sustainable • Himadri Speciality Chemicals (HSCH):Pitching for
higher performance • India Strategy : Time for a breather; D/G to Neutral
on valuation/EPS miss
JIGAR SHAH
INDIA
LIEN LE HONG
+91 22 6632 2632
+84 844 55 58 88 ext 8181
VIETNAM
SMID
Automobiles
KEY REPORTS• International Container Terminal Services:
Digesting Newly Completed Greenfield Projects (Downgrade from Buy to Hold)
KEY REPORTS• Inari Amertron : A MY sector powerhouse• V.S. Industry : Dusting off the competition • UMW Holdings : Inflection year
KEY REPORTS• Geely Auto (175 HK): Fully Charged to Go• Guangzhou Auto (2238 HK): D/G to HOLD; We enjoyed
the Ride• Shenzhou (2313 HK): Currency Headwin not Gusty
ISNAPUTRA ISKANDAR
KEY REPORTS• Six for 18: Indonesia : Positive on market• United Tractors (UNTR IJ) : Twin Strengths• Indocement (INTP IJ): Weakness Continues
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 REPORTS• Geely Auto (175 HK): Fully Charged to Go• Guangzhou Auto (2238 HK): D/G to HOLD; We
enjoyed the Ride• China Auto: Refocus on fundamentals
KEY REPORTS• Minda Industries (MNDA IN) : Outperformance is
sustainable • Himadri Speciality Chemicals (HSCH):Pitching for
higher performance • India Strategy : Time for a breather; D/G to Neutral
on valuation/EPS miss
JIGAR SHAH
INDIA
WENDY LI
+91 22 6632 2632
+852 2268 0647
CHINA
HONG KONG
Automobiles
Banks
KEY REPORTS• VNM VN: U/G to BUY on solid topline growth, wider
profit margin• DHG VN: Runing ahead of fundamentals, D/G to
SELL• PNJ VN: Strong sales & margins
KEY REPORT• MFRS 9 : Manageable impact on capital
RAHMI MARINA
KEY REPORTS• Indonesia Banks: Follow The Money• Bank Rakyat Indonesia (BBRI IJ): Focusing on
low:risk loans for growth
DESMOND CH’NG
MALAYSIA
LE HONG LIEN
VIETNAM
+62 21 8066 8689
+603 2297 8680
+84 844 55 58 88 ext 8181
INDONESIA
KEY REPORTS• Philippines Banks: Go for Big Banks!• BDO Unibank: Accelerating NIMs but Higher
Costs; Downgrade to HOLD
KATHERINE TAN
+63 2 849 8843
PHILIPPINES
Banks
KEY REPORTS• SG Banks : A Clearer Path • SG Banks : Cashing In On Cashless Payments?
TANAWAT RUENBANTERNG
KEY REPORTSThai Banking Sector: Pressure on CA, Risk on BanksThai Banking Sector: NIM Under PressureThai Banking Sector: Potential Delay of IFRS9 Is Only a NEUTRAL Event
NG LI HIANG
SINGAPORE
+66 2658 6300 ext.1394
KEY REPORTS• Edelweiss (EDEL IN): Getting better every quarter• HDFC Bank (HDFCB IN): Still the bellwether• Yes Bank (YES) : Strong 3QFY17 performance; across
various metrics; U/G to BUY
VISHAL MODI
INDIA
+91 22 6623 2607
+65 6231 5840
THAILAND
Casinos & Gaming
KEY REPORTS• Malaysia Gaming (NFO) : Positive turnaround
taking hold?• Yong Tai : Reliving Melaka's glory days• Genting Singapore : Stay in the game• Genting Malaysia : The chips may fall your way
SAMUEL YIN SHAO YANG
REGIONAL
+603 2297 8916
SONIJA LI
CHINA
HONG KONG
+852 2268 0641
KEY REPORTS• MGM China Holdings: 2Q: Wanting but Left Yearning• Wynn Macau: 2Q Beat on GGR Share Gains
Consumer Discretionary
KEY REPORTS• Ramayana Lestari (RALS IJ): Strong Data Points• Indonesia Consumer: Pick and Choose
KEY REPORTS• Nissin Foods (1475 HK): Deep Value With Growth• China Mengniu Dairy (2319 HK) : Giant awakens• Health & Happiness Int’l (1112 HK): In Good Shape &
Can Be Better• China Foods (506 HK): Taste the difference, we’re
lovin it
KEY REPORTS• DTAC: Improving signal• HMPRO: Strong 3Q puts 9M17 slightly ahead of FY
estimates• Six-for-18: MAKRO: Not a victim but a survivor• ADVANC: Defensive Yield
KA LEONG LO
KEY REPORTS• Geely Auto (175 HK): Fully Charged to Go• Guangzhou Auto (2238 HK): D/G to HOLD; We
enjoyed the Ride• Shenzhou (2313 HK): Currency Headwin not Gusty
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• VNM VN: U/G to BUY on solid topline growth, wider
profit margin• DHG VN: Runing ahead of fundamentals, D/G to SELL• PNJ VN: Strong sales & margins
SAMUEL YIN SHAO YANG
KEY REPORTS• Malaysia Gaming (NFO) : Positive turnaround taking
hold?• Yong Tai : Reliving Melaka's glory days• Genting Singapore : Stay in the game• Genting Malaysia : The chips may fall your way
LE HONG LIEN
VIETNAM
+603 2297 8916
+84 844 55 58 88 ext 8181
MALAYSIA
KEY REPORTS• Minda Industries (MNDA IN) : Outperformance is
sustainable • Himadri Speciality Chemicals (HSCH):Pitching for
higher performance • India Strategy : Time for a breather; D/G to Neutral
on valuation/EPS miss
JIGAR SHAH
INDIA
+91 22 6632 2632
KEY REPORTS• Geely Auto (175 HK): Fully Charged to Go• Guangzhou Auto (2238 HK): D/G to HOLD; We
enjoyed the Ride• China Auto: Refocus on fundamentals
WENDY LI
+852 2268 0647
CHINA
HONG KONG
Consumer Discretionary
KEY REPORTS• ComfortDelGro : Back to Comfort Zone; U/G to BUY• Singapore Post : Most sectors turning; U/G to BUY• IHH : Start-up drag stabilising and priced in; U/G to
BUY• Sheng Siong : At the Heartland of the Matter
JADE TAM
KEY REPORTS• STAR : Brace for impact• STAR : 1Q18 Value BUY
SINGAPORE
+603 2297 8687
+65 6231 5845
KEY REPORT• YTL Hospitality REIT : Check-in to an Asia-Pac
portfolio
KEVIN WONG
MALAYSIA
+603 2082 6824
MALAYSIA
JOHN CHEONG
KEY REPORTS• NVL VN: The pressure remains• VIC VN: Massive expansion, U/G to BUY• HPG VN: Insulated steelmaking (Apr'17) and
Gearing up for Growth
THAI QUANG TRUNG
+84 444 55 58 88 ext 8180
VIETNAM
Consumer Staples
KEY REPORTS• Ramayana Lestari (RALS IJ): Strong Data Points• Indonesia Consumer: Pick and Choose
KEY REPORTS• Nissin Foods (1475 HK): Deep Value With Growth• China Mengniu Dairy (2319 HK) : Giant awakens• Health & Happiness Int’l (1112 HK): In Good Shape &
Can Be Better• China Foods (506 HK): Taste the difference, we’re
lovin it
KEY REPORTS• DTAC: Improving signal• HMPRO: Strong 3Q puts 9M17 slightly ahead of FY
estimates• Six-for-18: MAKRO: Not a victim but a survivor• ADVANC: Defensive Yield
LIEN LE HONG
KEY REPORTS• VNM VN: U/G to BUY on solid topline growth, wider
profit margin• DHG VN: Runing ahead of fundamentals, D/G to
SELL• PNJ VN: Strong sales & margins
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• Consumer : Lets talk about consumption• Consumer : What is brewing?
LIEW WEI HAN
MALAYSIA
+603 2297 8676
KEY REPORTS• Singapore Post : Most sectors turning; U/G to BUY• IHH : Start-up drag stabilising and priced in; U/G to
BUY• Sheng Siong : At the Heartland of the Matter
SINGAPORE
+65 6231 5845
JOHN CHEONG
Health Care
KEY REPORTS• Ramayana Lestari (RALS IJ): Strong Data Points• Indonesia Consumer: Pick and Choose
KEY REPORTS• Kossan : Long-awaited growth to arrive• Malaysia Gloves Sector : Pick the laggard
TONY REN
KEY REPORTS• Hutchison China MediTech: China-Focused Low-Risk
Biopharma• Chinese Blood Plasma Sector: Fractionating
Fractionators: The 2 Longs and 2 Shorts of It• Chinese Blood Plasma Sector: More bloodletting
YEN LING LI
MALAYSIA
JANNI ASMAN
+852 2268 0640
KEY REPORTS• DTAC: Improving signal• HMPRO: Strong 3Q puts 9M17 slightly ahead of FY
estimates• Six-for-18: MAKRO: Not a victim but a survivor• ADVANC: Defensive Yield
MARIA LAPIZ
THAILAND
+662 257 0250
+603 2297 8691
+62 21 8066 8687
CHINA
HONG KONG
INDONESIA
Heath Care
KEY REPORTS• MY Construction: Keeping it 'rail‘• MY Construction: Let the dust settle
ADRIAN WONG
MALAYSIA
+603 2297 8675
KEY REPORTS• Singapore Healthcare : Healthy Trends• IHH : Start-up drag stabilising and priced in; U/G to
BUY• Sheng Siong: At the Heartland of the Matter
SINGAPORE
+65 6231 5845
JOHN CHEONG
Industrials
KEY REPORTS• SATS : Some Ais Kacang and a big bite of Turkish
Delight• ST Engineering : Renaissance Revival• Singapore Market Monitor : SG got its groove back• ASEAN SMIDs : Reversing the reversal of fortune
ISNAPUTRA ISKANDAR
KEY REPORTS• Six for 18: Indonesia : Positive on market• United Tractors (UNTR IJ) : Twin Strengths• Indocement (INTP IJ): Weakness Continues
WONG CHEW HANN
MALAYSIA
NEEL SINHA
SINGAPORE
+62 21 8066 8680
+603 2297 8686
+65 6231 5838
INDONESIA
KEY REPORTS• Philippine Strategy: Pricing in the Catalysts• Philippines : Tracking Growth (included in Six-for 18:
Cycles, Structures, Breakouts & Breakdowns)• SM Investments : The hand that rocks the cradle
MINDA OLONAN
PHILLIPINES
+63 2 849 8840
KEY REPORTS• 2018 Outlook & Lookouts “Keep growing & carry on …”• Politics & Strategy “GE14: Malaysia goes to the poll”• Special Feature “Minimum wage”• Politics & Strategy “GE14: Malaysia votes for change”• Macro & Strategy “GST to be zero-rated”
Industrials
KEY REPORTS• Powergrid Corp (PWGR) : Powering Ahead • PTC India (PTCIN) : Pole Position
VISHAL PERIWAL
INDIA
+91 22 6623 2605
KEY REPORTS• NVL VN: The pressure remains• VIC VN: Massive expansion, U/G to BUY• HPG VN: Insulated steelmaking (Apr'17) and
Gearing up for Growth
THAI QUANG TRUNG
+84 444 55 58 88 ext 8180
VIETNAM
KEY REPORTS• Sime Darby Plantation : One of a kind (Initiating
Coverage)• Regional Plantation : Muted 2018 price outlook• Regional Plantation : Long term trend analysis• Malaysia Plantation : Brace yourself for MFRS Impact
ONG CHEE TING
MALAYSIA
+603 2297 8678
KEY REPORTS• MY Construction: Keeping it 'rail‘• MY Construction: Let the dust settle
ADRIAN WONG
MALAYSIA
+603 2297 8675
Industrials
KEY REPORTS• PVD VN: Market over-reacts to oil prices
LE NGUYEN CHUYEN
+84 444 55 58 88 ext 8182
VIETNAM
KEY REPORTS• International Container Terminal Services:
Digesting Newly Completed Greenfield Projects (Downgrade from Buy to Hold)
KATHERINE TAN
+63 2 849 8843
PHILIPPINES
Plantations
KEY REPORTS• Six for 18: Indonesia - Positive on market• United Tractors (UNTR IJ) : Twin Strengths• Indocement (INTP IJ): Weakness Continues
+62 21 8066 8680
KEY REPORTS• Sime Darby Plantation : One of a kind (Initiating
Coverage)• Regional Plantation : Muted 2018 price outlook• Regional Plantation : Long term trend analysis• Malaysia Plantation : Brace yourself for MFRS Impact
ONG CHEE TING
REGIONAL
+603 2297 8678
INDONESIA
ISNAPUTRA ISKANDAR
Real Estate
KEY REPORTS• DTAC: Improving signal• HMPRO: Strong 3Q puts 9M17 slightly ahead of FY
estimates• Six-for-18: MAKRO: Not a victim but a survivor• ADVANC: Defensive Yield
KEY REPORTS• Singapore REITs : Industrials Closing In• Singapore REITs : Growth Jumpstart• Singapore REITs : In Need Of Retail Therapy (Initiate)• Singapore REITs : Industrials Bottoming Out• The Door To ASEAN Property
CHUA SU TYE
SINGAPORE
MARIA LAPIZ
THAILAND
+65 6231 5842
+662 257 0250
RICKY NG
KEY REPORT• Chinese Wind Power: Wind Beneath My Wings• CGN Power (1816 HK): Light at the End of the
Tunnel• Hong Kong Property : Catalyst-Driven
+852 2268 0689
HONG KONG
KEY REPORTS• Indonesia Property: Knocking On The Wrong
Doors• Indonesia Property: Ready Land To Meet Demand
AURELLIA SETIABUDI
+62 21 8066 8691
INDONESIA
Real Estate
KEY REPORTS• Philippines Property: Switiching Gears to
Residentials
KEY REPORTS• SG Property : Price Inflection Point; U/G to POSITIVE• GuocoLand : Riding the Singapore Upcycle (Initiate)• Bukit Sembawang : Home Run (Initiate)• SG Property : Cyclical Upturn in 2018• The Door To ASEAN Property
DERRICK HENG
SINGAPORE
ROMEL LIBO-ON
PHILLIPINES
+65 6432 1446
+63 2 849 8839
KEY REPORTS• NVL VN: The pressure remains• VIC VN: Massive expansion, U/G to BUY• HPG VN: Insulated steelmaking (Apr'17) and
Gearing up for Growth
THAI QUANG TRUNG
+84 444 55 58 88 ext 8180
VIETNAM
KEY REPORTS• Sime Darby Property : The goliath is stirring• Property sector : Remains challenging • Property sector : Awaiting catalysts
WONG WEI SUM
MALAYSIA
+603 2297 8679
Real Estate
KEY REPORTS• New World Development: Multiple Challenges Ahead
(Initiation)• New World Development: Pay Dirt with Farmland
Conversion • New World Development: Strong China margin
expansion
CHRISTOPHER WONG
HONG KONG
+852 2268 0689
KEY REPORTS• Malaysia REITs: GE14 Impact• Malaysia REITs: Mildly positive on revised Guidelines• CapitaLand Malaysia Mall Trust: Fundamentals
remain decent• YTL Hospitality REIT: Check-in to an Asia-Pac
portfolio
KEVIN WONG
MALAYSIA
+603 2082 6824
Technology
KEY REPORTS• Asian Components: Reality Check• Chipwar is heating up again• Asian Technologies: where is the cyclical recovery?
IVAN YAP
KEY REPORTS• Inari Amertron : A MY sector powerhouse• V.S. Industry : Dusting off the competition • UMW Holdings : Inflection year
STEFAN CHANG
REGIONAL
+603 2297 8612
+852 2268 0675
MALAYSIA
KEY REPORT• TAKE Solutions (TAKE IN) : Aims to be in top 5• Sterlite Technologies (SOTL IN) : Multiple
catalysts to play out• Hexaware Technologies (HEXW IN) : Firing on All
Cylinders
NEERAV DALAL
+91 22 6623 2606
INDIA
KEY REPORTS• Venture - Many Faces of Growth (Initiate)• Valuetronics - New Tech Illuminating the Way
LAI GENE LIH
SINGAPORE
+65 6231 5926
Telecommunications
KEY REPORTS• DTAC: Improving signal• HMPRO: Strong 3Q puts 9M17 slightly ahead of FY
estimates• Six-for-18: MAKRO: Not a victim but a survivor• ADVANC: Defensive Yield
KEY REPORTS• VIPS BUY: The Value of the Feminine Touch• BABA D/G: Time for a Breather• China Unicom D/G: Cash in Your Chips
MITCHELL KIM
REGIONAL
MARIA LAPIZ
THAILAND
+852 2268-0634
+662 257 0250
LUIS HILADO
KEY REPORTS• Game of Phones• Philippines Telecoms : A Tale Of Two Telcos• News Vs Reality• TPG Scenarios: The Base, The Blue Skies & The Ugly• Everything On HOLD
+65 6231 5848
SINGAPORE
PHILIPPINES
KEY REPORT• TAKE Solutions (TAKE IN): Aims to be in top 5• Sterlite Technologies (SOTL IN) : Multiple
catalysts to play out• Hexaware Technologies (HEXW IN) : Firing on All
Cylinders
NEERAV DALAL
+91 22 6623 2606
INDIA
Telecommunications
KEY REPORTS• VIPS BUY: The Value of the Feminine Touch• BABA D/G: Time for a Breather• China Unicom D/G: Cash in Your Chips
JEFFREY KWONG
CHINA
HONG KONG
+852 2268 0635
TAN CHI WEI
KEY REPORTS• Tenaga: More RP2 details released• Malaysia Telcos: Stability finally?
+603 2297 8690
MALAYSIA
CHANDRA PASARIBU
+62 21 8066 8691
INDONESIA
Transportation
KEY REPORT• Kossan : Long-awaited growth to arrive• Malaysia Gloves Sector : Pick the laggard
KEY REPORTS• Malaysia Aviation : Turn of the cycle• Petronas Chemicals : Don't overlook this champion
NEEL SINHA
KEY REPORT• SATS : Some Ais Kacang and a big bite of Turkish
Delight• ST Engineering : Renaissance Revival• Singapore Market Monitor : SG got its groove back• ASEAN SMIDs : Reversing the reversal of fortune
MOHSHIN AZIZ
REGIONAL
LEE YEN LING
MALAYSIA
+65 6231 5838
+603 2297 8692
+603 2297 8691
SINGAPORE
KEY REPORTS• DTAC: Improving signal• HMPRO: Strong 3Q puts 9M17 slightly ahead of FY
estimates• Six-for-18: MAKRO: Not a victim but a survivor• ADVANC: Defensive Yield
MARIA LAPIZ
THAILAND
+662 257 0250
Transportation
KEY REPORTS• ComfortDelGro : Back to Comfort Zone; U/G to BUY• Singapore Post : Most sectors turning; U/G to BUY• IHH : Start-up drag stabilising and priced in; U/G to
BUY• Sheng Siong : At the Heartland of the Matter
SINGAPORE
+65 6231 5845
JOHN CHEONG CHANDRA PASARIBU
+62 21 8066 8691
INDONESIA
Utilities
KEY REPORTS• Tenaga : More RP2 details released• Malaysia Telcos : Stability finally?
TAN CHI WEI
SINGAPORE
+603 2297 8690
RICKY NG
KEY REPORT• Chinese Wind Power: Wind Beneath My Wings• CGN Power (1816 HK): Light at the End of the
Tunnel• Hong Kong Property : Catalyst-Driven
+852 2268 0689
HONG KONG
KEY REPORT• Six for 18: Indonesia : Positive on market• United Tractors (UNTR IJ) : Twin Strengths• Indocement (INTP IJ): Weakness Continues
ISNAPUTRA ISKANDAR
+62 21 8066 8680
INDONESIA
KEY REPORTS• Powergrid Corp (PWGR) : Powering Ahead • PTC India (PTCIN) : Pole Position
VISHAL PERIWAL
INDIA
+91 22 6623 2605
