As economies in the Association of South East Asian Nations (Asean) attract more investment, CLSA picked 13 companies set to capitalize on the region’s increased spending power, reported Reuters.
CLSA’s picks were Fraser and Neave, Genting Singapore and United Overseas Bank from Singapore, Bank Rakyat, Gudang Garam and United Tractors of Indonesia, AirAsia, Genting Berhad and Public Bank from Malaysia, ICTSI and Universal Robina of the Philippines, and Bangkok Bank and CP Foods of Thailand.
The brokerage’s Asean portfolio was based on criteria such as stocks valued at less than 14 times operating earnings and stocks that traded at least US$5 million a day. “We estimate average three-year total returns to be 70% for this basket of franchise stocks, given their undemanding valuations,” the report said.
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