The 2014 All-Asia Research Team: Property, No. 3: Simon Garing, Chi Hung (Raymond) Ngai & team
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The 2014 All-Asia Research Team: Property, No. 3: Simon Garing, Chi Hung (Raymond) Ngai & team

Simon Garing, Chi Hung (Raymond) Ngai & team

Bank of America Merrill Lynch

First-place appearances: 0

Total appearances: 8

Team debut: 1997

Simon Garing and Chi Hung (Raymond) Ngai pilot their Bank of America Merrill Lynch squad to No. 3 for a third straight year. Following 120 regional property companies from bases in Australia, Hong Kong, India, Japan, the Philippines and Singapore, the 14-member team maintains a cautious outlook on the sector, which inched up 1.4 percent year to date through late April, while the broader market was roughly flat. “The property cycle is at its peak in most Asian countries due to abundant liquidity and low interest rates,” says Ngai, “but we believe this is going to reverse.” The analysts do, however, advise investors to buy Cheung Kong Holdings, a real estate developer and manager headquartered in Hong Kong. “We believe the company can maximize shareholders’ interest by diversifying away from Hong Kong property to generate better returns for shareholders,” he explains.


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