SINGAPORE

16 Jul 2012

STRAITS TIMES INDUSTRIAL INDEX: 30 Member Stocks
Code

Px on

Consensus

13 Jul 12

Target
Px *

Company

Div Eqy
Yield Beta
(%) (x)

P/E (x) **

P/Bk (x) **

Recommendation

Hist

FY1

FY2

Hist

FY1

FY2

Buy Hold Sell

Total

FY
Ended

1

CAPL SP

CapitaLand

SGD

2.950

3.389

2.0

1.3

12

21

16

0.8

0.8

0.8

15

6

1

22

Dec 11

2

CD SP

ComfortDelGro Corp

SGD

1.615

1.710

3.7

0.7

14

14

13

1.7

1.7

1.6

14

4

1

19

Dec 11

3

CIT SP

City Devts

SGD

11.360

10.554

0.7

1.2

16

16

15

1.5

1.4

1.3

5

7

11

23

Dec 11

4

CMA SP

CapitaMalls Asia

SGD

1.615

1.848

0.9

1.1

13

29

25

1.0

1.0

0.9

15

0

3

18

Dec 11

5

CT SP

CapitaMall Trust

SGD

1.945

2.018

4.7

0.7

17

21

19

1.2

1.2

1.2

14

8

1

23

Dec 11

6

DBS SP

DBS Group

SGD

14.180

15.998

3.9

1.0

11

11

10

1.2

1.1

1.0

19

3

2

24

Dec 11

7

FNN SP

Fraser and Neave

SGD

7.790

7.439

2.3

1.0

15

17

14

1.6

1.5

1.4

6

3

1

10

Sep 11

8

GENS SP

Genting S'pore

SGD

1.370

1.832

0.7

1.2

18

17

14

2.1

2.1

1.8

14

9

2

25

Dec 11

9

GGR SP

Golden Agri-Res

SGD

0.720

0.881

2.6

1.1

6

11

10

1.1

1.0

1.0

15

4

1

20

Dec 11

10

GLP SP

Global LogisticProp

SGD

2.190

2.410

1.4

1.0

15

22

19

1.3

1.3

1.2

14

0

1

15

Mar 12

Hongkong Land

USD

5.980

6.447

2.7

1.1

3

21

17

0.6

0.6

0.6

5

11

2

18

Dec 11

Jardine C&C

SGD

46.500

54.000

3.3

1.1

13

11

9

3.6

-

-

1

1

1

3

Dec 11

USD

52.760

59.567

2.4

0.9

6

12

10

1.2

1.3

1.2

4

2

2

8

Dec 11

11

HKL SP

12

JCNC SP

13

JM SP

Jardine Matheson

14

JS SP

Jardine Strategic

USD

32.350

31.350

0.7

1.0

5

12

10

1.0

1.1

0.9

3

4

1

8

Dec 11

15

KEP SP

Keppel Corp

SGD

10.830

12.958

4.0

1.3

9

12

12

2.3

2.3

2.1

22

3

1

26

Dec 11

16

NOBL SP

Noble Group

SGD

1.105

1.526

1.9

1.7

17

9

7

1.5

1.4

1.2

17

2

2

21

Dec 11

8

17

NOL SP

NOL

SGD

1.105

1.239

-

1.3

-

-

14

1.2

1.1

1.0

11

11

30

Dec 11

18

OCBC SP

OCBC

SGD

9.100

9.748

3.3

1.0

13

13

12

1.3

1.4

1.3

14 11

3

28

Dec 11

19

OLAM SP

Olam Int'l

SGD

1.860

2.350

2.7

1.4

11

13

10

1.3

1.5

1.4

17

4

3

24

Jun 11

20

SCI SP

SembCorp Industries

SGD

5.350

5.909

2.8

1.2

12

13

11

2.2

2.1

1.9

16

3

1

20

Dec 11

21

SGX SP

S'pore Exchange

SGD

6.500

6.856

4.2

1.1

22

23

21

9.0

8.4

7.9

6

10

6

22

Jun 11

22

SIA SP

S'pore Airlines

SGD

10.600

11.239

1.9

0.9

38

24

15

1.0

1.0

0.9

6

10

7

23

Mar 12

23

SIE SP

SIA Engrg

SGD

4.180

4.355

5.0

0.7

17

16

16

3.7

3.4

3.4

5

6

0

11

Mar 12

SembCorp Marine

SGD

4.970

5.841

2.2

1.4

14

15

14

4.0

3.9

3.4

23

3

0

26

Dec 11

S'pore Press

SGD

4.020

4.213

4.0

0.6

24

17

16

3.0

2.9

2.8

7

8

0

15

Aug 11

S'pore Telecoms

SGD

3.470

3.340

4.6

0.7

14

14

13

2.4

2.2

2.1

7

14

4

25

Mar 12

12

2

2

16

Dec 11

3

17

4

24

Dec 11

24

SMM SP

25

SPH SP

26

ST SP

27

STE SP

S'pore Tech Engrg

SGD

3.240

3.427

2.2

0.8

18

18

17

5.3

5.3

5.0

28

STH SP

StarHub

SGD

3.580

3.099

5.6

0.5

18

19

18

-

-

-

29

UOB SP

Utd Overseas Bank

SGD

19.390

19.970

3.1

1.0

13

13

12

1.4

1.4

1.3

14

9

5

28

Dec 11

30

WIL SP

Wilmar Int'l

SGD

3.550

4.492

1.7

1.0

12

12

10

1.7

1.5

1.4

7

16

5

28

Dec 11

14

16

14

2.1

2.0

1.9

Average:

2.8

Source: Bloomberg

* Bloomberg data definition: Consensus Target Price (fair value) provided by the analyst covering the stock.
This field is dependent upon the Data Source entered by the user in BE998, BEST_DATA_SOURCE_OVERRIDE.
A value of 'BST' will provide the 12 month target price consensus, which excludes prices older than three months when it is calculated.

** FY1: 1st Year forecast
** FY2: 2nd Year forecast

Page 1 of 4

SINGAPORE

16 Jul 2012

DOW JONES INDUSTRIAL INDEX: 30 Member Stocks
Px on
Code

Company
13 Jul 12

1

MMM UN

2

AA UN

3

AXP UN

4

T UN

5

BAC UN

6

BA UN

7

CAT UN

8

CVX UN

Consensus

Target
Px *

Div Eqy
Yield Beta
(%) (x)

P/E (x) **
Hist

FY1

FY2

P/Bk (x) **
Hist

FY1

FY2

Recommendation
Buy Hold Sell

Total

FY
Ended

3M

USD

87.590

98.857

2.7

1.0

14

14

13

3.8

3.5

3.1

8

9

2

19

Dec 11

Alcoa

USD

8.420

10.633

1.4

1.4

29

28

11

0.7

0.7

0.6

8

9

4

21

Dec 11

American Express

USD

57.930

63.778

1.4

1.1

14

13

12

3.4

3.2

2.9

3

30

Dec 11

AT&T

USD

35.350

34.212

5.0

0.7

16

15

14

2.0

2.0

1.9

14 23

3

40

Dec 11

Bank of America

USD

7.820

9.457

0.5

1.5

8

13

8

0.4

0.4

0.4

12 22

5

39

Dec 11

Boeing

USD

73.510

86.917

2.4

1.2

14

16

13

10.9

8.1

6.2

28

3

1

32

Dec 11

Caterpillar

USD

82.070 120.235

2.5

1.3

10

9

7

3.6

3.0

2.2

18

6

0

24

Dec 11

Chevron Corp

USD 106.010

120.929

3.4

1.1

8

9

9

1.7

1.5

1.4

20

7

0

27

Dec 11

16 11

Cisco Systems

USD

16.310

21.391

2.0

1.0

11

9

9

1.7

1.7

1.5

31 16

2

49

Jul 11

KO UN

Coca-Cola

USD

77.280

80.750

2.6

0.7

20

19

17

5.3

5.2

4.9

18

8

0

26

Dec 11

11

DD UN

Du Pont de Nemours

USD

47.630

56.800

3.6

1.2

12

11

10

4.6

4.0

3.3

9

13

0

22

Dec 11

12

XOM UN

Exxon Mobil Corp

USD

85.470

91.867

2.7

1.0

10

11

10

2.5

2.0

1.8

14 11

0

25

Dec 11

13

GE UN

General Electric

USD

19.770

22.750

3.4

1.2

14

13

11

1.7

1.7

1.6

16

1

21

Dec 11

14

HPQ UN

Hewlett-Packard

USD

18.980

27.219

2.8

1.3

6

5

4

0.9

0.9

0.8

10 16

6

32

Oct 11

15

HD UN

Home Depot

USD

52.090

55.545

2.2

1.0

20

18

16

4.4

4.4

4.5

18 13

0

31

Jan 12

16

IBM UN

IBM Corp

USD 186.010

211.783

1.8

0.9

13

12

11

10.4

8.2

6.6

13 17

1

31

Dec 11

17

INTC UW

Intel Corp

USD

25.250

29.743

3.6

1.0

10

10

9

2.7

2.5

2.1

27 25

4

56

Dec 11

18

JNJ UN

Johnson & Johnson

USD

68.610

73.429

3.6

0.7

14

13

12

3.1

2.9

2.6

18 10

0

28

Dec 11

19

JPM UN

JPMorgan Chase

USD

36.070

43.833

3.3

1.3

9

8

7

0.7

0.7

0.7

26 11

2

39

Dec 11

20

KFT UW

Kraft Foods

USD

39.710

43.400

2.9

-

17

16

14

2.1

1.9

1.8

15

1

21

Dec 11

21

MCD UN

McDonald's Corp

USD

92.290 101.864

3.0

0.6

17

17

15

6.4

6.2

5.7

19 12

0

31

Dec 11

22

MRK UN

9 CSCO UW
10

4

5

Merck & Co

USD

43.470

44.391

3.9

0.7

11

11

12

2.4

2.4

2.2

18

0

27

Dec 11

23 MSFT UW

Microsoft Corp

USD

29.390

35.923

2.7

0.9

11

11

10

3.6

3.5

2.8

28 11

9

1

40

Jun 11

Pfizer

USD

22.810

26.091

3.9

0.8

10

10

10

2.1

1.9

1.8

20

2

27

Dec 11

Procter & Gamble

USD

65.090

66.714

3.5

0.6

17

17

17

2.8

2.8

2.6

14 14

1

29

Jun 11

5

24

PFE UN

25

PG UN

26

TRV UN

Travelers Cos

USD

63.130

67.500

2.9

0.8

19

10

10

1.0

1.0

0.9

14 13

1

28

Dec 11

27

UTX UN

Utd Tech Corp

USD

73.590

94.438

2.9

1.1

13

13

11

3.0

2.7

2.3

21

0

25

Dec 11

28

VZ UN

Verizon Communicatn

USD

45.210

42.358

4.4

0.7

20

18

16

3.5

3.2

2.9

17 21

1

39

Dec 11

29

WMT UN

Wal-Mart Stores

USD

73.180

68.053

2.2

0.6

16

15

14

3.6

3.2

2.9

15 18

1

34

Jan 12

30

DIS UN

Walt Disney

USD

48.190

50.000

1.2

1.1

18

16

14

2.3

2.2

2.0

20 12

1

33

Sep 11

Average:

2.8

14

13

12

3.2

2.9

2.6

4

Source: Bloomberg

Page 2 of 4

SINGAPORE

16 Jul 2012

KL COMPOSITE INDEX: 30 Member Stocks
Code

Px on

Consensus

13 Jul 12

Target
Px *

Company

Div Eqy
Yield Beta
(%) (x)

P/E (x) **

P/Bk (x) **

Hist

FY1

FY2

Hist

FY1

FY2

Recommendation
Buy Hold Sell

FY
Ended

1

AIRA MK

AirAsia

MYR

3.790

4.081

1.3

1.6

19

12

10

2.4

2.1

1.7

20

4

28

2

AMM MK

AMMB

MYR

6.480

6.697

2.9

1.0

13

12

11

1.8

1.6

1.5

10 11

4

25

Mar 12

3 AXIATA MK

Axiata Gp

MYR

5.740

5.624

5.2

0.9

20

18

16

2.4

2.3

2.2

13 17

2

4

ROTH MK

Br Amer Tobacco M'sia

MYR

56.900

52.043

4.6

0.9

22

22

21

5

CIMB MK

CIMB Gp

MYR

7.870

7.875

2.8

1.3

14

14

12

2.3

2.1

1.9

6

DIGI MK

DiGi.Com

MYR

4.310

4.099

4.4

0.9

27

24

19

2.7

3.1

3.6

9

7

GAM MK

Gamuda

MYR

3.530

4.181

3.4

1.4

14

14

12

1.8

1.8

1.7

19

8

GENT MK

Genting

MYR

9.540

11.578

0.8

1.5

13

13

11

1.9

1.7

1.5

18

9

GENM MK

Genting M'sia

MYR

3.600

4.137

2.4

1.2

16

13

12

1.6

1.6

1.4

16 12

10

HLBK MK

Hong Leong Bank

MYR

13.100

13.578

2.0

1.2

13

14

13

2.2

2.1

1.9

14

11

HLFG MK

Hong Leong Financial Gp

MYR

12.160

15.950

2.1

1.2

11

11

9

1.5

1.5

1.4

3

12

IOI MK

IOI Corp

MYR

5.260

5.321

2.7

1.1

17

17

15

2.8

2.6

2.4

6

13

KLK MK

Kuala Lumpur Kepong

MYR

23.840

23.983

3.6

0.8

17

18

17

3.6

3.3

3.1

13 13

14

MAY MK

Malayan Banking

MYR

8.780

9.309

7.7

1.0

14

13

12

2.0

1.9

1.7

14

9

5

28

Jun 11

15

MMHE MK

M'sia Marine & Heavy Eng

MYR

5.630

4.896

1.8

-

18

26

23

3.9

3.4

3.1

3

5

12

20

Mar 11

16

MAXIS MK

Maxis

MYR

6.550

6.222

4.9

0.5

19

21

20

6.1

6.4

6.8

9

18

4

31

Dec 11

17

MISC MK

MISC

MYR

4.640

5.129

2.2

1.2

22

28

17

1.0

1.0

0.9

7

9

4

20

Mar 11

18

MMC MK

MMC Corp

MYR

2.540

3.360

1.6

1.4

16

20

17

1.2

1.1

1.1

7

1

1

9

Dec 11

19

PCHEM MK

Petronas Chemicals Gp

MYR

6.550

7.032

2.4

-

16

13

12

2.7

2.4

2.2

3

23

Mar 11

20

PETD MK

Petronas Dagangan

MYR

21.140

20.972

3.3

1.0

23

21

20

4.3

4.2

4.1

2

3

1

6

Mar 11

21

PTG MK

Petronas Gas

MYR

17.860

18.590

2.2

0.8

26

23

21

4.0

3.9

3.6

5

4

2

11

Mar 11

37.1 35.9 34.1

4

Total

Dec 11

32

Dec 11

12

8

23

Dec 11

12 11

5

28

Dec 11

15

7

31

Dec 11

6

2

27

Jul 11

6

2

26

Dec 11

0

28

Dec 11

6

5

25

Jun 11

2

0

5

Jun 11

3

16 10

10 10

6

32

Jun 11

32

Sep 11

22

PEP MK

PPB Gp

MYR

15.640

15.627

1.5

0.9

21

20

16

1.3

1.3

1.2

0

1

4

5

Dec 11

23

PBK MK

Public Bank

MYR

14.100

15.072

3.4

0.7

14

13

12

3.1

2.8

2.5

13

6

1

20

Dec 11

24

RHBC MK

RHB Capital

MYR

7.460

7.913

3.4

1.2

11

10

9

1.4

1.3

1.2

9

9

4

22

Dec 11

25

SIME MK

Sime Darby

MYR

9.940

11.188

3.2

0.9

13

15

14

2.4

2.3

2.1

21

8

0

29

Jun 11

26

T MK

Telekom M'sia

MYR

5.920

5.660

3.3

0.8

17

28

24

2.7

3.3

3.3

16

9

6

31

Dec 11

27

TNB MK

Tenaga Nasional

MYR

6.560

7.464

0.8

0.9

21

14

13

1.0

1.1

1.0

17

4

3

24

Aug 11

28

UMWH MK

UMW

MYR

9.800

9.581

3.2

0.7

20

13

12

2.6

2.4

2.2

10

5

1

16

Dec 11

YTL Corp

MYR

1.900

1.995

1.1

1.1

15

17

15

1.6

1.6

1.4

3

1

1

5

Jun 11

YTL Power Int'l

MYR

1.800

2.019

3.1

1.0

10

11

11

1.4

1.5

1.3

7

8

2

17

Jun 11

17

17

15

3.6

3.5

3.3

29

YTL MK

30

YTLP MK

Average:

2.9

Source: Bloomberg

Page 3 of 4

SINGAPORE

16 Jul 2012

HANG SENG INDEX: 46 Member Stocks
Px on
Code

Company
13 Jul 12

Consensus

Target
Px *

Div Eqy
Yield Beta
(%) (x)

P/E (x) **
Hist

FY1

FY2

P/Bk (x) **
Hist

FY1

FY2

Buy Hold Sell

1

1299 HK

AIA Gp

HKD

27.200

32.501

1.6

-

26

17

15

2

2600 HK

Aluminum Corp of China

HKD

3.120

3.095

-

1.4

-

-

234

0.8

0.8

0.8

3

3988 HK

Bank of China

HKD

2.790

3.681

6.8

1.1

5

5

5

1.1

1.0

0.9

4

3328 HK

Bank of Communications

HKD

4.810

6.072

2.6

1.2

5

5

5

1.1

1.0

0.8

5

23 HK

Bank of East Asia

HKD

26.500

25.731

3.5

0.9

13

13

12

1.2

1.1

1.0

2

6

1880 HK

Belle Int'l

HKD

13.620

14.472

1.3

0.9

22

20

16

5.9

5.1

4.3

20

5

7

2388 HK

BOC HK

HKD

22.900

25.458

5.2

1.0

12

12

11

1.9

1.8

1.7

23

6

8

293 HK

Cathay Pacific Airways

HKD

12.960

13.248

4.0

0.9

9

18

11

0.9

0.9

0.8

7

Cheung Kong

HKD

95.900 124.107

China Coal Energy Co

HKD

China Construction Bank

HKD

China Life Insurance Co

HKD

9

1 HK

10

1898 HK

15.4 14.3 13.0

Recommendation
Total

FY
Ended

18

4

3

25

Nov 11

1

5

15

21

Dec 11

23 16

1

40

Dec 11

14 18

6

38

Dec 11

29

Dec 11

8

33

Dec 11

2

31

Dec 11

8

8

23

Dec 11

2

13 14

3.3

1.1

5

10

9

0.7

0.7

0.6

20

0

22

Dec 11

9.019

4.0

1.3

7

7

6

1.1

1.0

0.9

26 11

3

40

Dec 11

4.780

6.956

6.0

1.1

6

5

5

1.5

1.3

1.1

33

6

1

40

Dec 11

20.700

21.734

1.4

1.2

26

18

14

3.1

2.7

2.4

8

22

5

35

Dec 11

1.4

1.3

1.2

10

6

5

21

Dec 11

6.670

11

939 HK

12

2628 HK

13

144 HK

China Merchants Hldgs

HKD

23.850

28.237

4.1

1.1

11

14

12

14

941 HK

China Mobile

HKD

85.450

89.052

3.9

0.6

11

11

11

2.6

2.4

2.2

17 12

5

34

Dec 11

15

688 HK

China Overseas Land & Invt

HKD

18.280

19.550

1.8

1.3

10

10

8

2.1

1.9

1.6

28

0

36

Dec 11

16

386 HK

China Petroleum & Chem

HKD

6.780

8.120

5.4

0.8

7

7

6

1.2

1.1

1.0

20 13

3

36

Dec 11

17

291 HK

China Resources Enterprise

HKD

21.900

29.422

2.1

0.9

19

20

16

1.4

1.4

1.3

16

8

3

27

Dec 11

18

1109 HK

China Resources Land

HKD

15.440

18.050

1.7

1.4

10

13

11

1.5

1.3

1.2

30

6

1

37

Dec 11

China Resources Power

HKD

15.960

18.649

1.9

0.5

17

11

10

1.6

1.4

1.3

27

1

1

29

Dec 11

China Shenhua Energy Co

HKD

28.700

35.936

3.8

1.1

10

10

9

2.5

2.2

2.0

31

7

1

39

Dec 11

9.690

14.213

1.3

0.8

44

27

17

1.1

1.1

1.0

21

7

7

35

Dec 11

8

19

836 HK

20

1088 HK

21

762 HK

China Unicom HK

HKD

22

267 HK

Citic Pacific

HKD

11.580

14.575

3.9

1.1

5

7

6

0.6

0.5

0.5

4

3

3

10

Dec 11

23

2 HK

CLP

HKD

64.850

67.620

3.9

0.5

17

14

13

1.9

1.8

1.7

6

9

4

19

Dec 11

CNOOC

HKD

15.020

17.837

3.5

1.3

8

8

8

2.6

2.2

1.9

21 12

3

36

Dec 11

COSCO Pacific

HKD

9.820

13.838

4.5

1.4

9

9

8

7.3

6.9

6.4

19

4

2

25

Dec 11

9.510

12.368

2.7

1.2

-

19

13

0.8

0.7

0.7

3

7

11

21

Jun 11

7

24

883 HK

25

1199 HK

26

330 HK

Esprit

HKD

27

101 HK

Hang Lung Properties

HKD

26.600

32.012

3.4

1.0

24

27

19

1.1

1.1

1.0

13

28

11 HK

Hang Seng Bank

HKD 105.800

108.734

4.9

0.7

12

12

11

2.6

2.4

2.2

11 11

29

12 HK

Henderson Land Devt

HKD

44.250

52.413

2.3

1.1

6

15

15

0.6

0.6

0.5

10 10

30

1044 HK

Hengan Int'l Gp Co

HKD

75.550

82.850

1.8

0.6

35

26

21

7.5

6.9

6.1

16

9

31

3 HK

HK & China Gas Co

HKD

17.360

16.392

1.8

0.5

25

23

21

3.6

3.4

3.1

3

10

32

388 HK

HK Exchanges & Clearing

HKD 102.400

107.936

4.2

1.2

22

23

21

12.0 10.4

9.3

7

5

33

5 HK

HSBC Hldgs

HKD

66.550

80.227

4.8

1.0

9

9

8

Hutchison Whampoa

HKD

68.500

85.143

3.0

1.1

5

13

11

0.8

0.8

0.8

10

4

Ind & Comm Bank of China

HKD

4.020

6.074

6.2

1.3

6

5

5

1.5

1.3

1.1

34

5

13.740

18.436

3.9

1.1

21

17

14

28.3 23.8 21.8

12

4

4

7.6

7.2

6.8

30 10

4

24

Jun 11

6

28

Dec 11

2

22

Dec 11

4

29

Dec 11

6

19

Dec 11

13

25

Dec 11

4

44

Dec 11

0

14

Dec 11

1

40

Dec 11

20

Dec 11

34

13 HK

35

1398 HK

36

494 HK

Li & Fung

HKD

37

66 HK

MTR Corp

HKD

26.250

28.648

2.9

0.7

10

18

17

1.2

1.1

1.1

10

4

0

14

Dec 11

38

17 HK

New World Devt Co

HKD

9.690

11.238

3.9

1.3

4

9

10

0.5

0.5

0.5

8

3

2

13

Jun 11

PetroChina Co

HKD

9.260

11.913

4.3

1.0

10

9

9

1.7

1.6

1.4

17 17

2

36

Dec 11

Ping An Insurance Gp Co

HKD

60.350

75.540

0.8

1.4

20

16

13

3.7

3.1

2.6

25

1

35

Dec 11

58.150

57.233

4.0

0.5

14

13

13

2.1

2.0

1.9

10 10

2

22

Dec 11

39

857 HK

40

2318 HK

41

6 HK

Power Assets

HKD

42

83 HK

Sino Land Co

HKD

12.580

14.461

3.3

1.2

8

14

13

0.9

0.8

0.8

11

6

4

21

Jun 11

43

16 HK

Sun Hung Kai Properties

HKD

95.450 106.216

3.5

1.0

5

12

12

0.8

0.8

0.7

11

7

4

22

Jun 11

Swire Pacific

HKD

88.850

91.800

3.9

0.9

4

13

13

0.6

0.6

0.6

5

7

5

17

Dec 11

Tencent

HKD 223.600

249.970

0.3

1.1

33

26

20

12.7 10.0

7.3

27

5

6

38

Dec 11

Wharf

HKD

42.500

50.185

2.5

1.2

4

14

12

0.6

0.6

0.6

10

8

1

19

Dec 11

Average:

3.3

13

14

17

3.3

3.0

2.7

44

19 HK

45

700 HK

46

4 HK

9

Source: Bloomberg

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