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  OVER 100 YEARS OF ASIAN EXPERIENCE 

Our Approach

What We Do

  • Long-Term Thinking On Asia: Korea To India

  • Look Over Horizon

  • Exploit Misconceptions

 

   Asian Strategy Service

What RESEARCH-WORKS Has Said

Asian Steel: Undervalued,
Bull Case Intact
Bull Case For Steel Prices And Stocks Is Still Compelling...China And Developing Countries Are Raising World Growth Rate from 0.8% to 4%

 

May 2004

Baosteel Up 77%,   
   POSCO 225%, JFE 203%, Wuhan Steel 251%      

             

China Cycle Not Over: Buy
Markets Have Reacted Irrationally ...China's Cycle Is Far From Over.... Structural Change Is Still Driving Growth 

 


May 2004

H Share Index Up 168%





 

China Companies Handbook 2008

Description

Table of Contents

Excerpts

 

China Service

  • See Below

 

  • Telephone Time

  • Bespoke Research

   

 

UTStarcom : Sell Dec 03
Sell As Initial Signs Of Decline Emerge . A One Hit Wonder That Benefited From A Regulatory Quirk

 

Dec 2003  

Down 84%

China Power : Buy
Second wave of buying interest ahead


Mar 2007

Four Buys Up 35% vs Market 20% in 3 Months

 

 



 

 



              
  

HUGH PEYMAN

  •  30 Years In Asia:    Five Years In China
  • Began Merrill Lynch's Southeast Asian Research in 1984

  • Headed Merrill Lynch's Asian Research

  • Managing Director Dresdner Kleinwort Benson

  • Emerging Markets Pioneer

  • Unparalleled Pan-Asian Network: Built Over 30 Years


  • PHILIP BOWRING

    • 35 Years In Asia

    • Consultant to World Economic Forum
      and Oxford Analytica

    • Former Consultant to Dresdner Kleinwort Benson

    • Columnist International Herald Tribune, Former Editor Far Eastern Economic Review

    • Pioneered Investigative Financial Journalism In Asia

    Access

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    Note: 1. All words are in lower case.       

             2. If you still cannot log in,    please go to Here .


      

    GEORGE BAEDER

    • 25 Years of Management Consulting in Asia

    • Advises Mainly Fortune 100 Companies

    • Specialises in Technology, Financials, Pharmaceuticals

    • Based in San Francisco, our Link with Silicon Valley and Global MNCs

     


     

      TJIO KAY LOEN

    • Indonesian-Born Corporate Advisor


    • Former OCBC Head
      of Investment and Corporate Banking

    • Former Chairman Singapore's Association of Banks


    • Previously Board Member of Telecommunications Authority of Singapore, Public Utilities Board


    The Reality, Not The Myth

      Problem: Too much noise, not enough experienced judgment. Roiling global currency, commodity and stock markets with its actions, China has re-established itself as a key factor for investors to consider. However as investors found, that is easier said than done. With very little informed information let alone analysis coming out of China it is still treated as an opaque Middle Kingdom that will remain an arcane mystery to the outside world. 

      Solution: Research-Works' China Service cuts through this miasma to find the reality and the stock picks. With 10 people in China and another five outside, it builds a broad knowledge platform from which to make informed decisions on industries, companies and market-moving events. 

      Reports: We take a fundamental approach to China so as to build an understanding of reality. This has led us to look for the big ideas that are the building blocks of any economy or market. These have included:

    • Urbanisation. What is the true scale by 2020 ? What is the investment impact of another 120mn people moving into the cities by 2010 ? Which sectors and    stocks benefit and when ?

    • Leveraging the Chinese Consumer. What is consumer finance doing to stimulate housing, autos and white goods as China starts to Live Now, Pay Later ? What are Chinese household incomes ?


    • Margins. Are profits collapsing, triggering the next crisis? Or is Corporate China in its best shape ever ?

             
    We cover over 50 China stocks. This is expected to rise to 80-100 by end 2007, covering most of the major sectors. 

     

             Sector Analysis: In-depth analysis of the sectors is an integral part of the China Service. This is designed both for Asian specialists

             and for global investors who need to know how China impacts their investments worldwide. Sectors include: Steel, Telecoms, Power,

             Autos, Auto Parts, Textiles, Consumers, Home Appliances, Expressways, Rail. 

     

             China Monitor: Each month we review the main data that we think gives the most reliable guide to China's economy. This provides

             a guide to the economy over the next 3-6 months and to likely policy-maker moves. 

     

             Industry Monitors: These do for an industry what the China Monitor does for China macro. In 20 minutes a month it keeps investors

             abreast of the latest trends, So far there are Monitors on Steel , Telecoms and Textiles. Soon they will include Power, Infrastructure

             and Autos. 

     

             China Emails: Update investors with key data or events that indicate direction or explain developments. 

     

             China Companies Handbook: This ground-breaking work compiles the data and key company information on 200 China Plays

              plus analysis of 20 major sectors. 

     

             Data Base: Access to rigorously tested five-year data on over 400 A and H shares plus industry data. 

     

             Conferences: These major investigations of the Chinese economy and the impact of its structural change are the centre piece

             of workshop conferences. For an idea of the scope of these conferences see Urbanisation which was held over four days in Shanghai

             and Chongqing on the Impact of Urbanisation on investment. 

     

             Experience: Hugh Peyman, has headed Asian research for Merrill Lynch and Dresdner Kleinwort Wasserstein. He is based

             in Shanghai,having been involved with China for over 30 years. With 15 people working on Greater China, there is both depth

             and experience. Access to Hugh and the sector analysts is welcomed. 

     

              Results: This fundamental approach has paid off, both in and out of China:

    ·       Yuan to Revalue, Buy H Shares: Up 565% since October 2001  

    ·         China Telecoms Long/Short:  China Mobile (Buy) Up 155%, Unicom (Sell) Up 87% 

    ·         China Autos Long/Short: Geely (Buy) Up 219%, Denway (Sell) Up 23%

    ·         Sell UTStarcom: Down 84%

    China Matters. The Law of Large Numbers Now Counts

                  

    Research-Works is the only China-based Asian investment strategy firm.   

    China Service                                       

     

    Contact Us : Research-Works@research-works.com  Telephone: 86-21-5887-6060  Fax: 86-21-5887-7558

    Big Ideas_ _Misconceptions__ Consultation_ _Conferences

    Please Note: We Only Work With A Small Number Of Sophisticated Institutions, Not With Individual Investors
    All opinions, advice and information are provided in good faith but without legal responsibility. The information is not designed as a solicitation to buy or sell any securities or other financial instruments. The information and opinions are based on material that RESEARCH-WORKS believes to be reliable, but RESEARCH-WORKS makes no representation as to their accuracy nor accepts any liability for any loss arising from the use of the research. None of the material or any copy of it may be altered or distributed to any party without express written permission from RESEARCH-WORKS.