ASEAN Research: Key Investor Debates Likely to Drive Stocks in the Upcoming Year
MORGAN STANLEY RESEARCH
December 5, 2012
ASEAN
Big Debates: 2013
Key Investor Debates Likely to Drive Stocks in the Upcoming Year
Although ASEAN's growth story remains resilient, global macro conditions keep generating new debates. Our ASEAN research team has thought through the ASEAN outlook in the context of global growth and policy volatility to bring to you the ASEAN Key Debates for 2013.
Indonesia Economics ........................................
6
Indonesia Equity Strategy .................................
8
In this report, we highlight a selection of the key debates that we think will drive the performance of industries and stocks in 2013. We asked our sector teams to identify industry- and company-specific debates that are likely to matter or that are likely to be settled or significantly advanced in the coming 12 months, and on which we have a view that differs from the current market view.
Indonesia Banks................................................. 16
Our job as securities analysts starts with conversations with leading investors. We look to identify which debates matter today, and more importantly, which will matter tomorrow. Through these conversations, along with an increasing array of analytics, we seek to understand what is currently in the price, and where investment opportunities can be found.
Singapore Equity Strategy ................................ 10
Thailand Equity Strategy ................................... 12
ASEAN Plantations ............................................ 14
Indonesia Telecoms........................................... 18
Singapore Banks................................................ 20
Singapore Industrials ........................................ 22
Singapore Property............................................ 24
Singapore Reits.................................................. 26
Singapore Telecoms .......................................... 28
December 5, 2012
ASEAN
Big Debates: 2013
Key Investor Debates Likely to Drive Stocks in the Upcoming Year
Although ASEAN's growth story remains resilient, global macro conditions keep generating new debates. Our ASEAN research team has thought through the ASEAN outlook in the context of global growth and policy volatility to bring to you the ASEAN Key Debates for 2013.
Indonesia Economics ........................................
6
Indonesia Equity Strategy .................................
8
In this report, we highlight a selection of the key debates that we think will drive the performance of industries and stocks in 2013. We asked our sector teams to identify industry- and company-specific debates that are likely to matter or that are likely to be settled or significantly advanced in the coming 12 months, and on which we have a view that differs from the current market view.
Indonesia Banks................................................. 16
Our job as securities analysts starts with conversations with leading investors. We look to identify which debates matter today, and more importantly, which will matter tomorrow. Through these conversations, along with an increasing array of analytics, we seek to understand what is currently in the price, and where investment opportunities can be found.
Singapore Equity Strategy ................................ 10
Thailand Equity Strategy ................................... 12
ASEAN Plantations ............................................ 14
Indonesia Telecoms........................................... 18
Singapore Banks................................................ 20
Singapore Industrials ........................................ 22
Singapore Property............................................ 24
Singapore Reits.................................................. 26
Singapore Telecoms .......................................... 28