Table of Contents
Investment Summary ...............................................................3
From Fear to Growth ................................................................7
Crisis Abating – What Next? .................................................10
Growth Opportunities in Asia................................................13
M&A For Growth.....................................................................15
Will the Market Pay a Premium for Growth? Post Crisis
Growth Struggle .....................................................................16
From Beta to Alpha ................................................................17
From PB to PE ........................................................................18
Risks for growth .....................................................................20
Sector Stance .........................................................................20
Countries
Australian Banks..............................................................................24
Chinese Banks .................................................................................26
Hong Kong Banks............................................................................28
Indian Financials..............................................................................30
Indonesian Banks ............................................................................32
Korean Banks...................................................................................34
Malaysian Banks ..............................................................................36
The Philippines Banks.....................................................................38
Singapore Banks..............................................................................40
Taiwan Financials ............................................................................42
Thai Banks........................................................................................44
Australian Insurers ..........................................................................46
China Insurance ...............................................................................47
Korean insurers & brokers..............................................................48