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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: alan holman who wrote (27252)10/8/1997 12:02:00 PM
From: alan holman   of 28369
 
October 06, 1997 : STOCKWATCH: Malaysian timber stocks -- 2 (analyst comment)

At 4:24 pm, the KLSE composite index was down 4.60 points at 792.69. The
second board was up 1.64 at 402.69.
Timberwell was up 0.90 at 17.20 rgt on volume of 3.828 mln shares while
Jaya Tiasa rose 0.45 to 9.45 on 1.77 mln shares and Tekala was up 0.16 at 3.
24 on 687,000 shares.
A chief dealer with a local brokerage said local timber stocks are
gaining popularity on the back of expected higher returns from the
agriculture sector.
He said sales of timber produced by these companies are denominated in U.
S. dollars and as such would benefit greatly from the weaker ringgit
vis-a-vis the dollar.
In addition, the forest fires in Indonesia may affect Indonesia's timber
output, resulting in higher prices for timber.
"We won't see this happening very soon. Perhaps a few months down the
road. Investors are picking up these stocks for the long-term benefits," he
said.

AFN
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