The 2014 All-Asia Research Team: Indonesia, No. 3: Ferry Wong & team
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The 2014 All-Asia Research Team: Indonesia, No. 3: Ferry Wong & team

Ferry Wong & team

Citi

First-place appearances: 0

Total appearances: 3

Team debut: 2008

Under the leadership of Jakarta-based Ferry Wong, Citi’s crew marks its best showing to date on this roster, capturing third place after a year’s absence. The seven teammates, six working out of Jakarta and one based in Singapore, impress clients with research that includes “a good mix of solid think pieces with a long shelf life and spot-on stock calls,” as one portfolio manager puts it. One recent addition to their sector portfolio, which now includes 50 Indonesian names, is Surya Citra Media, a Jakarta-based broadcaster on which they launched coverage in February 2013 with a buy rating. Surya’s new strategy for developing programming internally would support profitability, they contended. By late April 2014 the stock had soared 42.4 percent, to 3,205 rupiah, against the Indonesian broad market’s 3.4 percent rise. Another current favorite is diversified real estate manager Ciputra Development. The researchers began reporting on the Jakarta-based builder in November, predicting that the market would shift toward low-cost housing, thanks in part to hikes in the minimum wage that month. Dubbed a buy, Ciputra’s shares shot up 48.6 percent, through late April, soaring to Rp1,070 and eclipsing the broad market by 29.2 percentage points. They remain recommended, with a target price of Rp1,200.


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