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

To: Tom who wrote (426)	6/2/1998 2:06:00 PM
From: Heretic	Read Replies (3) \| Respond to of 457

But guys, can we really get a good bounce in Thai stocks while the baht is again looking weak (after having been stable for several weeks)?

To: Tom who wrote (426)	6/3/1998 2:22:00 AM
From: tom	Read Replies (1) \| Respond to of 457

Although Dairy Farm's purchase of Hero Supermarket in Indonesia at 10x the current market price may look like classic Dairy Farm "deworsification" I really think that the new management are trying to turn this pile of crap around. Incidentally, Hero supermarket now trades at a valuation of US$250,000 per store - not bad really! I do think that Asia is ripe for a bounce and the Philippines has probably the best economy out of the "Asia 5" but I find it difficult to find value there. It also worries me that the managements haven't reached the stage that the Thai and Koreans have ie when you meet them they say "oh everything will be fine next year" and "non performing loans are only 5% of our loan book (Metrobank)". They may be in for a shock.