YTD, the FTSE Small-cap Index has outperformed the STI/FTSE
Mid-cap Index by 5.5% pts and 4.5% pt respectively. An
ultra-accommodative global monetary environment has been injecting
confidence into equity markets with news flow turning positive.
Other than Ezion which was
downgraded to Neutral (from
Outperform) following its recent rally,
our top growth stocks are still CWT,
Tat Hong and Midas. In the offshore
marine space, attention could turn to
other value stocks such as Jaya
Holdings. We removed Ezion and
added Biosensors to our list of top
picks. In property, interest could
return to Guthrie if there are
follow-on corporate developments
after its recent decision to gear up.
The stocks are out there
Our small-cap model portfolio has
gained 19.7% since inception,
outperforming the STI by 12.5% pts,
the FTSE Mid-Cap Index by 11.9% pts
and the FTSE Small-Cap Index by
3.3% pts.
We have replaced Ezion with Jaya
Holdings, newly initiated with a high
conviction. Jaya, in Sanskrit, is
associated with victory and this could
just be the pathway a renewed Jaya
would take. (Read Recent Report)
UE: truly a transformational
transaction
UE has made a S$4/share offer for
WBL. We see limited synergies but
the fairly sane offer (our
back-of-the-envelope estimate is
S$5.15 per WBL share) mitigates risks
of overpaying.
Want an Ang Bao for CNY?
Venture‟s recent share-price strength
is likely sustainable as the market
prices in S$0.55 DPS expectations.
UMS Holdings is another tech stock
with yields to watch out for. (Read Report)
ASIAN BANKS WEEKLY - China’s econ data to drive banks; BRI the stock of the week
Monday, 4 February 2013
Monday, 4 February 2013
- CIMB Research
Source : CIMB Research
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