UBS-Hong Kong & China Daily Comment080630

Global Equity Research
Asia Pacific Ex. JP
Sectors in this Issue

pdf

36pages

Company Update
Huadian - A, 600027.SS Stephen Oldfield p.1
Tough operating environment confirmed
12-month rating: Sell (Unchanged), FY08E Rmb(0.09), FY09E Rmb0.03, PT
Rmb3.20/US$0.46, Mkt Cap Rmb31.9bn/US$4.60bn
Prime Success, 0210.HK Erica Poon Werkun, CFA p.6
Multiple developments in 2008
12-month rating: Buy (Unchanged), FYE -, PT
Prior:HK$7.30/US$0.94 => HK$6.56/US$0.84, Mkt Cap HK$6.86bn/US$0.88bn
Chiwan Wharf - A, 000022.SZ Edmond Huang, CFA p.16
Takeaway from A-share conference
12-month rating: Neutral (Unchanged), FY07E Rmb1.01, FY08E Rmb0.95, PT
Rmb18.35/US$2.64, Mkt Cap Rmb9.45bn/US$1.36bn
Beiqi Foton Motor, 600166.SS Henry Wu p.21
Key takeaway from A share conference
12-month rating: Neutral (Unchanged), FY08E Rmb0.54, FY09E Rmb0.65, PT
Rmb11.39/US$1.64, Mkt Cap Rmb5.29bn/US$0.76bn
Huadian Power, 1071.HK Stephen Oldfield p.25
Tough operating environment confirmed
12-month rating: Sell (Unchanged), FY08E Rmb(0.09), FY09E Rmb0.03, PT
HK$1.40/US$0.18, Mkt Cap HK$13.0bn/US$1.67bn
Ports Design, 0589.HK Erica Poon Werkun, CFA p.29
Vivienne Tam joint venture
12-month rating: Buy * (Unchanged) CBE , FY08E Rmb0.83, FY09E Rmb1.10, PT
HK$23.91/US$3.06, Mkt Cap HK$12.8bn/US$1.64bn
30 June 2008
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Sector (See Below)
Consumer, Cyclical
Industrial
Utilities
This package has been prepared by UBS Securities Asia Ltd UBS
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*Under review (UR) and/or exception to core rating bands (CBE) - see page : 33
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