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Strategies & Market Trends : Asia Forum

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To: Stitch who wrote (1872)	2/3/1998 10:19:00 AM
From: Worswick	Read Replies (1) of 9980

Good morning, or rather good evening to you Stitch! I concur. Dead cat bounce. Hard to look at Malaya up 24%! Maybe we have missed the boat but I think not. Riots in Indonesia today: the sugar plantation workers are marching on Bankok to protest the calamity. A good overview of the crisis is at the following link. imf.org Also, thought I'd post the Malaysia funds largest holdings before the crisis struck. June, 30, 197 holdings. Percentage of Assets Berjaya - 9% Malayan Banking Bhd. - 8.6% Sime Darby - 6.1% Dialog Group -6% Lityan Holdings - 5 United Engineers - 5% Genting - 4.6% Rashid Hussain - 4.1% IMJ Corp. bhd. - 3.9% Rothmanns of Pall Mall - 3.7% As a point of departure these companies might be thought of as "blue chips" for further research over there Stitch. September saw the fund with Genting - 5.9% Tenaga Nasional - 4.9% New Straits Times Press - 4.7% Malayan Banking- 4.0% Lityan HOldings - 4.0 Dialog Group - 3.8% Rothmanss - 3.4% United Engineer 3.2% Kentucky Fried Chicken - 2.9% Golden Hope Plantations - 2.9% So, you see the beleagured Joseph Tern was shuffling his ;rotfolio around. The fund was at something like a 140% premium to the underlying shares yesterday. With a 24% rise now it is only at 116% premium. Regardles, Tern and his associates have to be termed "insiders " in my opinion.

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