Overview 3
Credit Strategy 14
Focus List 30
Sovereign Risk Analysis 39
Monthly focus: Republic of Indonesia 40
People’s Republic of China 48
Hong Kong SAR 50
Republic of India 55
Socialist Republic of Vietnam 58
Company News & Analysis 65
Financial Institutions 66
Corporates 72
Asia Credits Coverage 117
Spread and Curve Charts 118
Appendix 123
HSBC Databank 124
Asian Yankee/Eurobond Secondary Trading Levels
as of 1/6/2009 142
Asian Rating Timeline 146
Disclosure appendix 152
Disclaimer 162
Contents