Manila Water Co.(MWC:PM; MWTCY:OTC US) is a full service water utility company based in the Philippines. On October 9, 2013, according to the Business section of The Philippines Daily Inquirer news article, “Manila Water expands Vietnam presence”, (http://business.inquirer.net/146635/manila-water-expands-vietnam-presence), the Company, through its parent company, The Ayala Group has expanded presence in Vietnam. This was done with the closing of a deal to acquire approximately 31.5 percent stake in Ho Chi Minh City-based SaiGon Water shares. The price was 16,900 Vietnamese dong per share, or approximately Philippine Pesos (PHP) 34.18 per share, which is worth approximately PHP627.9 million. SaiGon Water has been listed in Ho Chi Minh City Stock Exchange for a little over a year, since September 2012. In a drive to limit its activities to projects where revenue is guaranteed, SaiGon Water in 2011 decided to focus mainly on environmental infrastructure development. The latest deal by Manila Water provides the Company with several opportunities to tap into the Indo-China market for infrastructure development, particularly in the areas of water and sanitation-related infrastructure needs. The Company is also capitalising on the global water shortage issues and is trying to diversify its overseas business. This is at a time where its domestic market looks to be saturated, and management is facing tremendous pressures on the revenue front. Particularly with issues relating to the ongoing disagreements with the Filipino water regulator, the Metropolitan Waterworks & Sewerage System (MWSS), which ordered the Company, and another company, Maynilad Water Services, Inc. to cut its utility tariffs. This came as a result of a pledge by some Filipino lawmakers to investigate 15.0 billion pesos (USD 342.0 million) in income taxes and other expenses that water utilities passed on to domestic consumers.

Read more: http://www.asean-investor.com/manila-water-co-inc-mwcpm-mwtcyotc-us-quenching-investors-thirst-for-growth/

By Marc Djandji, CFA

In this article, we are examining some of the economic issues facing Malaysia. The country seeks to embark on its various economic development growth strategies, while trying to come up with solutions to resolve its debt woes. This has been quite a challenging task for Malaysian Prime Minister, NajibRazak as he seeks to outline various plans to boost the economy in Malaysia during the upcoming Budget announcement in Putrajaya, Kuala Lumpur, scheduled for October 25, 2013.

Recently, it was reported that Bloomberg News got an exclusive interview with Prime Minister Najib, which was recorded on October 11, 2013 at Putrajaya. Here Prime Minister Najib was quoted as saying that “We’re very closely monitoring how we manage our macro position as well as our fiscal and debt to make sure that we will not be downgraded.” This statement was made as Malaysia has been facing mounting concerns about its debt issues following a Fitch Ratings decision to cut Malaysia’s credit outlook in July, citing rising debt, and lack of budgetary reform. Malaysia, which has a long-term foreign-currency denominated rating of A- at Fitch, has run a continuous annual budget deficit every year since 1998.

Read more: http://www.asean-investor.com/how-is-malaysia-confronting-its-present-economic-challenges-given-the-recent-global-turmoil/

PT Bukit Asam (Persero) Tbk (PTBA) is an Indonesia-based coal mining company. Its scope of operation includes general surveying, exploration, excavation and processing;the Company also engagesin coal briquette production and has three production units located in Tanjung Enim, Gresik and Natar. In addition, PTBA offers logistical, support and consulting services related to the coal mining industry.

• PTBA still offers attractive short-term growth in comparison with other Indonesian coal miners. The company is expected to increase production at a CAGR of 16% over 2012-16.
• The PT KA rail expansion project is on track and will increase rail-transport capacity to 18.5mt by 2013(an impressive 21% YOY growth) and to 22.7mt from 2014 onwards from 15.6mt in 2012.
• The company is currently building more than 2GW of mine-mouth power plants, which could consume as much as 15mt of coal, saving transportation costs and providing captive demand. The cost saving will add IDR 2337/share or 14% to the current share price.
• PTBA is a defensive investment and will continue to outperform its peers in the current coal price environment, given its superior production, higher margins and stronger balance sheet.TheCompany is expected to generate better than industry EBITDA margins of 27% in 2013 because of low strip ratio and cost effective rail transport vis-avis its peers.

See more: http://www.asean-investor.com/bukit-asam/

Cordlife Group is a leading Singapore-based private cord blood bank. Established in May 2001, it is renowned as one of the first private cord blood banks to be established in Asia. It currently owns and operates 2 stem cell banks with full processing and cryopreservation storage facilities in Singapore and Hong Kong. With 72% market share in private cord blood banking in Singapore, it is the largest private player, and 2nd largest in Hongkong with 28% market share. It is also present in India, Indonesia and the Philippines through its affiliates. Recently the Companybought 10% stake in China Cord Blood Corporation (CCBC) to expand its geographical reach.

At current trading price ofSGD 1.07, the stock trades at 20.5x PE, 2013E which seems to beundervalued given its promising growth prospects, dominant domestic market position and strong presence abroad. The company’s promising business and revenue model coupledwarrant valuation close to local and global peers if not better. A trading range of 2014E, PE of 23-24x should be in line with peers at which the stock price be SGD1.29-1.35, providing an upside of more than 20% at lower end of TP.

See more: http://www.asean-investor.com/cordlife-group-update/

Garuda Indonesia (GIAA:IJ; PSEOY:OTC US; YGD:GR) is the national flag carrier of Indonesia, with the largest seat capacity among Indonesia’s premium carriers. GIAAis the only listed play in Indonesia’s air travel market.
After being state-owned for more than half a century, Garuda recently made attempts to modernise and move into the ranks of world-class airlines. The company was listed on the Indonesia stock exchange in February 2011 with 28 percent of its shares sold to the public at 750Rp per share.
Indonesia’s air travel market is relatively immature and is experiencing one of the highest growth rates in the world. Two carriers dominate the domestic market:Garuda offering full service and Lion Group targeting budget passengers.

WHEN TO BUY AND SELL

• GIAA has historically tended to tradesomewhere in the range of ~1.5x -2.6x book value since listing in early 2011. GIAA’s listed emerging market peers have broadly traded in a similar range.

• The stock is trading at the lowest level in its listed history, at a little over 1.2x BV. The metrics on which the stock is currently trading are likely to put of a floor under the share price.

• An improvement in broader market sentiment could movethe stock to return to the lower end of its typical valuation range i.e. to around the Rp600 level. Beyond that, it is reasonable to suggest that GIAA could trend back up towards its listing price of Rp750 or even higher on a 12-month horizon, an upside of around 53% compared to its current levels.

See more: http://www.asean-investor.com/indonesia-travel-taking-off-it-is-open-skies-for-garuda-indonesia-pseoyotc-us/

Global AgInvesting, the world's premier agriculture investment conference series, is returning to Singapore, September 24-26, 2013 for the third annual Global AgInvesting Asia conference at the iconic Marina Bay Sands.

In 2012, three hundred allocators, fund managers, and industry executives came together to discuss the burgeoning asset class of agriculture and its surrounding themes. 2013 will solidify and grow this community of thought leaders who believe in the strong fundamentals of agriculture and are committed to putting real money to work in the space. A discussion and education on global markets, regional risk and return profiles, crop specifics, liquid vs. illiquid strategies, the major role of water, and an exploration of new technologies will be the focus of this landmark conference. Be sure that this event is on your calendar for September.

http://www.globalaginvesting.com/Conferences/Home?eventId=20

Join me at the Global AgInvesting Asia conference in Singapore Sept. 24-26
http://www.globalaginvesting.com/Conferences/Home?eventId=20

Global AgInvesting, the world's premier agriculture investment conference series, is returning to Singapore, September 24-26, 2013 for the third annual Global AgInvesting Asia conference at the iconic Marina Bay Sands.

In 2012, three hundred allocators, fund managers, and industry executives came together to discuss the burgeoning asset class of agriculture and its surrounding themes. 2013 will solidify and grow this community of thought leaders who believe in the strong fundamentals of agriculture and are committed to putting real money to work in the space. A discussion and education on global markets, regional risk and return profiles, crop specifics, liquid vs. illiquid strategies, the major role of water, and an exploration of new technologies will be the focus of this landmark conference. Be sure that this event is on your calendar for September.

http://www.globalaginvesting.com/Conferences/Home?eventId=20

In recent years it has become clear that the pace of economic growth in Southeast Asia has shown signs of acceleration, largely propelled by sweeping political reforms, changing demographic trends, and underlying economic strength that is supported by solid fundamentals.
It is also clear that a large number of multinational companies have missed these changes, instead choosing to focus their attention on larger headline names like China and India.
Southeast Asia is commonly referred to as the ASEAN bloc or ASEAN, for the Association of Southeast Asian Nations which brings together 10 member countries: Indonesia, Malaysia, Thailand, Laos, Cambodia, Brunei, Burma (Myanmar), Vietnam, the Philippines and Singapore. The region has a population of 600 million, a combined GDP of US$2 trillion. Growth trends in both of these areas have put collective GDP estimates ahead of 5.5% for 2013, and these positives are widely supported by a growing middle class and recent partnerships to broaden global trade relationships.

For individual investors, this means that long term opportunities can still be found in these overlooked areas and when we look at recent developments, the evidence shows that these opportunities are the region’s economic performance in recent years has shown that Southeast Asia has become an attractive (and profitable) place to invest and build companies.
In previous decades, multinational corporate agendas have used these nations as intermediaries when funnelling business to their larger Asian partners. But these traditional views of ASEAN as another secondary market for low-cost labour have been displaced as an incubating collection of inventive and innovative companies have emerged as viable competition for the traditional emerging markets alternatives.
These factors, when combined with the region’s key demographic growth drivers present some compelling investment opportunities when looking at the longer-term time horizons.
See more and Download Free Ebook at: http://www.asean-investor.com/get-the-latest-free-ebook-asean-investment/

In recent years it has become clear that the pace of economic growth in Southeast Asia has shown signs of acceleration, largely propelled by sweeping political reforms, changing demographic trends, and underlying economic strength that is supported by solid fundamentals.
It is also clear that a large number of multinational companies have missed these changes, instead choosing to focus their attention on larger headline names like China and India.
Southeast Asia is commonly referred to as the ASEAN bloc or ASEAN, for the Association of Southeast Asian Nations which brings together 10 member countries: Indonesia, Malaysia, Thailand, Laos, Cambodia, Brunei, Burma (Myanmar), Vietnam, the Philippines and Singapore. The region has a population of 600 million, a combined GDP of US$2 trillion. Growth trends in both of these areas have put collective GDP estimates ahead of 5.5% for 2013, and these positives are widely supported by a growing middle class and recent partnerships to broaden global trade relationships.

For individual investors, this means that long term opportunities can still be found in these overlooked areas and when we look at recent developments, the evidence shows that these opportunities are the region’s economic performance in recent years has shown that Southeast Asia has become an attractive (and profitable) place to invest and build companies.
In previous decades, multinational corporate agendas have used these nations as intermediaries when funnelling business to their larger Asian partners. But these traditional views of ASEAN as another secondary market for low-cost labour have been displaced as an incubating collection of inventive and innovative companies have emerged as viable competition for the traditional emerging markets alternatives.
These factors, when combined with the region’s key demographic growth drivers present some compelling investment opportunities when looking at the longer-term time horizons.
See more and Free Download at: http://www.asean-investor.com/get-the-latest-free-ebook-asean-investment/

In recent years it has become clear that the pace of economic growth in Southeast Asia has shown signs of acceleration, largely propelled by sweeping political reforms, changing demographic trends, and underlying economic strength that is supported by solid fundamentals.
It is also clear that a large number of multinational companies have missed these changes, instead choosing to focus their attention on larger headline names like China and India.
Southeast Asia is commonly referred to as the ASEAN bloc or ASEAN, for the Association of Southeast Asian Nations which brings together 10 member countries: Indonesia, Malaysia, Thailand, Laos, Cambodia, Brunei, Burma (Myanmar), Vietnam, the Philippines and Singapore. The region has a population of 600 million, a combined GDP of US$2 trillion. Growth trends in both of these areas have put collective GDP estimates ahead of 5.5% for 2013, and these positives are widely supported by a growing middle class and recent partnerships to broaden global trade relationships.

For individual investors, this means that long term opportunities can still be found in these overlooked areas and when we look at recent developments, the evidence shows that these opportunities are the region’s economic performance in recent years has shown that Southeast Asia has become an attractive (and profitable) place to invest and build companies.
In previous decades, multinational corporate agendas have used these nations as intermediaries when funnelling business to their larger Asian partners. But these traditional views of ASEAN as another secondary market for low-cost labour have been displaced as an incubating collection of inventive and innovative companies have emerged as viable competition for the traditional emerging markets alternatives.
These factors, when combined with the region’s key demographic growth drivers present some compelling investment opportunities when looking at the longer-term time horizons.
See more and Free Download at: http://www.asean-investor.com/get-the-latest-free-ebook-asean-investment/

Get Free Ebook

>> Singapore: One of Asia’s Most Stable and Important Economies
>> Thailand: One of Asia’s Main Tourist Destinations
>> The Philippines: No longer the sick man of Asia
>> Vietnam: Long-Term Projections Signal Significant Growth
>> Malaysia: A Newly Industrialized Economy
>> Indonesia: ASEAN’s Most Populated Country

How to Invest in ASEAN Markets?
Widespread evidence of economic growth and continued efforts to unite and streamlining trading
operations between ASEAN member countries creates an excellent opportunity for long term
investors. This opportunity is enhanced by the fact that most of these markets are primed for
substantial levels of economic growth and that they have been overlooked by many investors chasing
larger economies that tend to receive most of the news headlines.
Since there are other opportunities in Asia, it makes sense to research some of the options that are
available when new investors are looking to gain exposure to the region. According to the IMF, the
central ASEAN nations are expected to start achieving combined GDP growth rates of more than 6%.
Since these numbers far surpass those seen in most developed nations, and have remained stable
amongst the global financial uncertainty of recent years, this bodes well for long term investors
looking to use ASEAN assets to diversify a portfolio.
But, how can this be done, exactly? What are some of the most common products available to gain
ASEAN exposure in a simple, transparent and safe manner?


It's a few viewpoint from Ebook "ASEAN Rising: Preparing for the Next Investment Opportunities in Emerging Markets" of Marc Djandji, has been resonated on social network sites and community investors Asean and raise awareness about investment for investors around the world for Asean. To learn and get this free ebook, please visit: http://www.asean-investor.com/get-the-latest-free-ebook-asean-investment/

>> Singapore: One of Asia’s Most Stable and Important Economies
>> Thailand: One of Asia’s Main Tourist Destinations
>> The Philippines: No longer the sick man of Asia
>> Vietnam: Long-Term Projections Signal Significant Growth
>> Malaysia: A Newly Industrialized Economy
>> Indonesia: ASEAN’s Most Populated Country

How to Invest in ASEAN Markets?
Widespread evidence of economic growth and continued efforts to unite and streamlining trading
operations between ASEAN member countries creates an excellent opportunity for long term
investors. This opportunity is enhanced by the fact that most of these markets are primed for
substantial levels of economic growth and that they have been overlooked by many investors chasing
larger economies that tend to receive most of the news headlines.
Since there are other opportunities in Asia, it makes sense to research some of the options that are
available when new investors are looking to gain exposure to the region. According to the IMF, the
central ASEAN nations are expected to start achieving combined GDP growth rates of more than 6%.
Since these numbers far surpass those seen in most developed nations, and have remained stable
amongst the global financial uncertainty of recent years, this bodes well for long term investors
looking to use ASEAN assets to diversify a portfolio.
But, how can this be done, exactly? What are some of the most common products available to gain
ASEAN exposure in a simple, transparent and safe manner?


It's a few viewpoint from Ebook "ASEAN Rising: Preparing for the Next Investment Opportunities in Emerging Markets" of Marc Djandji, has been resonated on social network sites and community investors Asean and raise awareness about investment for investors around the world for Asean. To learn and get this free ebook, please visit: http://www.asean-investor.com/get-the-latest-free-ebook-asean-investment/

Get the Latest free E-Book
ASEAN Rising: Preparing for the Next Investment Opportunities in Emerging Markets

In recent years it has become clear that the pace of economic growth in Southeast Asia has shown signs of acceleration, largely propelled by sweeping political reforms, changing demographic trends, and underlying economic strength that is supported by solid fundamentals.
It is also clear that a large number of multinational companies have missed these changes, instead choosing to focus their attention on larger headline names like China and India.
Southeast Asia is commonly referred to as the ASEAN bloc or ASEAN, for the Association of Southeast Asian Nations which brings together 10 member countries: Indonesia, Malaysia, Thailand, Laos, Cambodia, Brunei, Burma (Myanmar), Vietnam, the Philippines and Singapore. The region has a population of 600 million, a combined GDP of US$2 trillion. Growth trends in both of these areas have put collective GDP estimates ahead of 5.5% for 2013, and these positives are widely supported by a growing middle class and recent partnerships to broaden global trade relationships.

- Read more and Free Download Ebook at: http://www.asean-investor.com/get-the-latest-free-ebook-asean-investment/

Get the Latest free E-Book ASEAN Rising: Preparing for the Next Investment Opportunities in Emerging Markets

In recent years it has become clear that the pace of economic growth in Southeast Asia has shown signs of acceleration, largely propelled by sweeping political reforms, changing demographic trends, and underlying economic strength that is supported by solid fundamentals.
It is also clear that a large number of multinational companies have missed these changes, instead choosing to focus their attention on larger headline names like China and India.
Southeast Asia is commonly referred to as the ASEAN bloc or ASEAN, for the Association of Southeast Asian Nations which brings together 10 member countries: Indonesia, Malaysia, Thailand, Laos, Cambodia, Brunei, Burma (Myanmar), Vietnam, the Philippines and Singapore. The region has a population of 600 million, a combined GDP of US$2 trillion. Growth trends in both of these areas have put collective GDP estimates ahead of 5.5% for 2013, and these positives are widely supported by a growing middle class and recent partnerships to broaden global trade relationships.

- See more and free download at: http://www.asean-investor.com/get-the-latest-free-ebook-asean-investment/

In recent years it has become clear that the pace of economic growth in Southeast Asia has shown signs of acceleration, largely propelled by sweeping political reforms, changing demographic trends, and underlying economic strength that is supported by solid fundamentals.
It is also clear that a large number of multinational companies have missed these changes, instead choosing to focus their attention on larger headline names like China and India.
Southeast Asia is commonly referred to as the ASEAN bloc or ASEAN, for the Association of Southeast Asian Nations which brings together 10 member countries: Indonesia, Malaysia, Thailand, Laos, Cambodia, Brunei, Burma (Myanmar), Vietnam, the Philippines and Singapore. The region has a population of 600 million, a combined GDP of US$2 trillion. Growth trends in both of these areas have put collective GDP estimates ahead of 5.5% for 2013, and these positives are widely supported by a growing middle class and recent partnerships to broaden global trade relationships.

For individual investors, this means that long term opportunities can still be found in these overlooked areas and when we look at recent developments, the evidence shows that these opportunities are the region’s economic performance in recent years has shown that Southeast Asia has become an attractive (and profitable) place to invest and build companies.
In previous decades, multinational corporate agendas have used these nations as intermediaries when funnelling business to their larger Asian partners. But these traditional views of ASEAN as another secondary market for low-cost labour have been displaced as an incubating collection of inventive and innovative companies have emerged as viable competition for the traditional emerging markets alternatives.
These factors, when combined with the region’s key demographic growth drivers present some compelling investment opportunities when looking at the longer-term time horizons.
See more and Free Download at: http://www.asean-investor.com/get-the-latest-free-ebook-asean-investment/

The Malaysian economy proved resilient to the global recession and has witnessed strong growth in the last couple of years. For 2013, it’s expected to again witness a growth rate of ~5% driven largely by strong domestic demand.

DRB-Hicom (1619.KL) has several catalysts in place to propel it to further growth while providing diversification and reach into various growing sectors of the economy. Best of all, valuations are attractive for a growing conglomerate. At RM2.55, the shares trade at ~18x FY13E consensus EPS of RM0.141, ~10x FY14E consensus EPS of RM0.253, and P/B of 0.7x, which is compelling given the company’s long term growth potential. The investment rationale for buying the stock is as follows:

1) Recent acquisition of Proton and CRTM to boost automotive segment growth:

Automotive segment with 9M13 reported revenue of RM7.5bn (+188.5%, due to first time Proton consolidation) is the largest of the three business segments with top line contribution of c.77% (9M13). Proton acquisition gave DRB-Hicom a manufacturing and technology platform to become an integrated automotive player in the region and thus to tap future growth opportunities in the automotive sector. Proton’s acquisition is currently under a restructuring plan and is expected to become the company’s main growth driver. .

Proton turnaround is focused on rationalising its supply chain which should help in quality and cost control besides enhancing operational efficiency. Further, the Proton Edgar and EON merger should rationalise distribution network and provide business and cost synergies. New model launches such as Preve Hatchback, Global Small Car, and strategy of penetrating overseas market including Thailand, Indonesia and Australia should further boost growth.

Proton’s presence throughout the industry value chain makes it a preferred local partner for global automotive leaders looking to enter the Malaysian market. For a successful turnaround of Proton, the group needs partners, technology and platforms to exploit its capacity. It’s collaboration agreements with Honda, Mercedes Benz, Mitsubishi, Volkswagen AG (VWAG), Suzuki, Isuzu, and Audi offer opportunities to reorganise component manufacturing to upscale its offerings and capacity.

Recently, Honda committed capex of RM1bn to be incurred in the next 3 years to make Malaysia its regional manufacturing hub for its hybrid vehicles, Insight and Jazz. Honda is expected to expand its Pegoh plant to double its capacity to 100k units per year. Proton should benefit from Honda’s capex commitment. Further, Proton should also benefit from VWAG’s plan of ramping up capacity to 50k units’ p.a. to fulfil its regional production hub plan and meet ASEAN exports needs by 2017/2018.

Check out our full story http://www.asean-investor.com/drb-hicom-synergies-poised-to-kick-in/