Shares Investment 《股市资讯》(10th Mar 2018)

Terence took on the role of a history teacher in the opening of his latest presentation with  Shares Investment 《股市资讯》held in SGX Centre earlier to remind us of the rich past of China and its prowess as part of his discussion on whether China is ‘ASEAN’s Best Friend’ – the theme of the seminar.

The Chinese presence has grown by leaps and bounds since the listing of Tianjin Zhongxin in 1997. But it wasn’t till 2002 did the numbers jump. Between 2002-07, there were close to 150 Chinese companies entering our market. Many companies suffered sad endings, particularly after the market meltdown in 4Q2008. Investors were left licking their wounds.

While investors should be cautious with Chinese companies, there are still interesting opportunities.  We suggest investors pay attention to companies such as Tianjin Zhongxin Pharma, which has a long track record and boast of one of the best selling drugs to treat cardiocascular diseases in China. It  is trading at a huge discount to its A-shares and H-shares peers.  Citic Envirotech has strong backing from CITIC Ltd, which is one of China’s largest conglomerate and is trading at one of the lowest P/Es compared to its SGX-listed peers. Citic’s dividend yield of 3.6% is also the highest among its peer group. There are also some Singapore companies with good presence in China. We like hospitality plays Banyan Tree and Amara Holdings, as well as Hrnet Group, the largest HR company in the region. (David Chow)

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