🌐 Emerging Market Stock Picks (Early April 2025)

Myanmar/Thailand earthquake impacted stocks + Mitra Adiperkasa, Emperador, ComfortDelGro, IFAST, Home Product Center PCL, Central Pattana PCL, Remgro, Stadio, Curro, Wal-Mart de Mexico, ASUR, etc.

Apr 04, 2025

∙ Paid

The recent earthquake in Myanmar, which was also felt in Thailand, will have some implications for investors - mainly in Thai stocks:

🔬 Assessing the impact of recent earthquake: Market Focus (DBS Insights Direct) 31 Mar 2025

Market likely to open lower after the aftermath of the earthquake on Friday
Negative on insurance, residential condominium developers
Tourism and medical tourism companies could also be negatively affected in near term
Positive on home improvement co.; our top pick is Home Product Center PCL (BKK: HMPRO / HMPRO-F / OTCMKTS: HPCRF)

Other home improvement and engineering services stocks that they think could see some benefits or an uptick in business included:

Thai Watsadu - No. 1 one-stop shopping retailer of building supplies and construction materials. Subs. of Central Retail Corporation PCL (BKK: CRC / CRC-F)
Siam Global House PCL (BKK: GLOBAL / GLOBAL-F) - Merchandising of construction materials, home decorative products & tools & equipment.
Dohome PCL (BKK: DOHOME / DOHOME-F) - Retail, wholesale & services of construction materials & home decoration products.

While they are more negative on insurance and residential condominium developers, landed property is always going to be more expensive than condo properties in desirable locations in places like Bangkok. Nevertheless, condo complex management associations and condo owners will no doubt be looking closely at their insurance coverage along with developers at any liability issues on what they build.

And as mentioned before, there is one direct stock play on Myanmar:

🌏 Yoma Strategic Holdings (SGX: Z59 / FRA: O3B / OTCMKTS: YMAIF) - Conglomerate. Real estate, motor, leasing, mobile financial, food & beverages, & investment businesses. 🇼
- 🇲🇲 Yoma Strategic – betting on peace in Myanmar (Undervalued Shares) 7 June 2024
Price/Book (Current): 0.36
Forward P/E: 44.64 / Forward Annual Dividend Yield: N/A (Yahoo! Finance)

Stocks covered in this second post (with a focus on some countries or stocks that are hopefully more accessible to retail investors via Interactive Brokers or via a foreign listing - see our first post - 🌐 Emerging Market Stock Picks (Mid-March 2025)…):

[Note: On desktop browsers, an autogenerated table of contents will appear on the left side linked to each stock. I will add those links below after publishing/emailing this post…]

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And as always, this post is provided for informational purposes only (and to make your life easier…). It does not constitute investment advice and/or a recommendation…

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Frontier & Emerging Market Stock Index

Asia

East Asia

🇨🇳 China / 🇭🇰 Hong Kong / 🇲🇴 Macau

Note: For more China & Hong Kong stock picks or ideas, see our monthly China & Hong Kong Stock Picks posts…

🇰🇷 Korea

Note: For more Korean stock picks or ideas, see our monthly Korean Stock Picks posts…

🇹🇼 Taiwan

Note: I have note seen any good Twitter/Substack/blog accounts or (free) equity research providers with good coverage of Taiwanese stocks (at least not in English). Please contact me if you know of any…

Yue Yuen Industrial Holdings

🌐 Yue Yuen Industrial Holdings (HKG: 0551 / FRA: YUE1 / OTCMKTS: YUEIY) - Manufacture of athletic/outdoor & casual footwear with a diversified portfolio of brand customers & production sites. 🇼 🏷️
Price/Book (Current): 0.55
Trailing P/E: 6.30 (no forward P/E) / Forward Annual Dividend Yield: 10.89% (Yahoo! Finance)

Minth Group

🔬 Minth Group Ltd (425HK) - FY24 Results Review: Business growth back on track (DBS Insights Direct) 26 Mar 2025 ⚠️

🔬 Minth Group Ltd (425HK) - <Earnings First Take> 2024 results in-line, growth levers in-tact; Maintain BUY (DBS Insights Direct) 25 Mar 2025 ⚠️

🌐 Minth Group (HKG: 0425 / FRA: M3I0 / M3I / OTCMKTS: MNTHY / MNTHF) 🇰🇾 - Manufacturing of exterior & structural automotive parts. Supplier of battery enclosures & body structure components. Taipei HQ. 🏷️
Price/Book (Current): 1.07
Forward P/E: 7.98 / Forward Annual Dividend Yield: 2.15% (Yahoo! Finance)

SE Asia

🇮🇩 Indonesia

Mitra Adiperkasa Tbk PT

🔬 Mitra Adiperkasa Tbk PT (MAPIIJ) - Results First Take: 4Q24 earnings missed slightly, but margins improved q/q (DBS Insights Direct) 27 Mar 2025 ⚠️

🌏 Mitra Adiperkasa Tbk PT (IDX: MAPI / FRA: QGI / OTCMKTS: PMDKF / PMDKY) - Leading distributor & omni-channel retailer for sports, kids and lifestyle brands. 🇼 🏷️
Price/Book (Current): 1.91
Forward P/E: 10.16 / Forward Annual Dividend Yield: 0.59% (Yahoo! Finance)

Perusahaan Gas Negara Tbk PT

🔬 Perusahaan Gas Negara Tbk PT (PGASIJ) - Earnings behind our estimates, but in line with the street (DBS Insights Direct) 27 Mar 2025 ⚠️

🇮🇩🏛️ Perusahaan Gas Negara Tbk PT (IDX: PGAS / FRA: PGB1 / OTCMKTS: PPAAF / PPAAY) - Natural gas distribution & transportation. 🇼 🏷️
Price/Book (Current): 0.83
Forward P/E: 6.75 / Forward Annual Dividend Yield: 9.54% (Yahoo! Finance)

PT Trimegah Bangun Persada Tbk

🔬 PT Trimegah Bangun Persada Tbk (NCKLIJ) - <Result Analysis>: 2024 earnings growth above our expectations despite nickel price decline; promising earnings growth outlook in 2025. (DBS Insights Direct) 26 Mar 2025 ⚠️

🇮🇩 PT Trimegah Bangun Persada Tbk (IDX: NCKL) - Nickel ore mining + services & real estate. 🇼 🏷️
Price/Book (Current): 1.43
Forward P/E: 5.73 / Forward Annual Dividend Yield: 3.87% (Yahoo! Finance)

Emerging Market Skeptic