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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Stitch who wrote (1872)	2/3/1998 10:19:00 AM
From: Worswick	Read Replies (1) \| Respond to 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.

To: Stitch who wrote (1872)	2/3/1998 12:50:00 PM
From: tom	Read Replies (3) \| Respond to of 9980

Currency board in Indonesia? Many are now debating this solution to the problem and it is not as crazy as it sounds: 1. The money supply is now so small in US$ terms that they could back the whole of M2 (if you include the IMF cash and other bits and pieces) 2. There would be no lender of last resort and so bankrupt banks would be forced to close 3. It removes Bank Indonesia from the game and puts monetary policy i the hands of Greenie If it did happen then I reckon the markets would rocket. Any thoughts?