09/08/97 TABLE: Finding Value in Southeast Asia

Finding Value in Southeast Asia

HONG KONG: China will provide an earnings boost for conglomerate Hutchison Whampoa Ltd. Its diversified earnings base and strong management should justify its price-earnings ratio of 23.
INDONESIA: Asia Pulp & Paper Co. Ltd. will benefit from a weaker rupiah. Its current p-e is 17.7.
MALAYSIA: After the chairman of Malaysian Airline System acquired a 32% stake, the carrier restructured, and profits have risen. Its shares are seen as a fair deal at around 14 times earnings.
PHILIPPINES: Philippine Long Distance Telephone Co.'s satellite subsidiary should boost revenues. Its current p-e is 15.
SINGAPORE: With a current p-e of 9, Singapore Airlines Ltd. should benefit from proposed investor-friendly programs.
THAILAND: K.R. Precision, which manufactures and distributes computer parts, is trading at 10 times next year's earnings.
DATA: MORGAN STANLEY DEAN WITTER DISCOVER & CO.; MERRILL LYNCH & CO.; BLOOMBERG FINANCIAL MARKETS.

Return to main story