Asian Daily (Asia Edition)

DISCLOSURE APPENDIX CONTAINS ANALYST CERTIFICATIONS AND THE STATUS OF NON-US ANALYSTS. FOR OTHER IMPORTANT DISCLOSURES, visit www.credit-suisse.com/ researchdisclosures or call +1 (877) 291-2683. U.S. Disclosure: Credit Suisse does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision CREDIT SUISSE SECURITIES RESEARCH & ANALYTICS BEYOND INFORMATION TM Client-Driven Solutions, Insights, and Access Tuesday, 22 December 2015 Asian Daily (Asia Edition) EPS, TP and Rating changes EPS TP (% change) T+1 T+2 Chg Up/Dn Rating China Cinda Asset Management Co., Ltd 0 0 0 79 O (O) Value Partners 0 (3) 0 (4) N (N) Advanced Info Service PCL (3.0) (11.8) (3) 36 O (N) Connecting clients to corporates Corporate Days / Conferences 5th Annual Macro Conference Date 06 January, Singapore Greater China Technology Days Date 06-07 January, Hong Kong Analyst Manish Nigam Greater China Internet C-Level Days Date 07-08 January, Hong Kong Analyst Dick Wei 7th Annual ASEAN Conference Date 07-08 January, Singapore CS Japan Tech Seminar (Japanese speaking clients only) Date 13 January, Tokyo Analyst Hideyuki Maekawa Korea Display Supply Chain Corporate Day Date 17 February, Seoul Analyst Keon Han Asia Frontier Markets Conference Date 22-23 February, London Analyst Chate Benchavitvilai Asia Frontier Markets Conference Date 25-26 February, New York Analyst Chate Benchavitvilai Hong Kong / China (Non-deal roadshow) Chipbond (6147.TWO) Date 07 January, Hong Kong Analyst Jerry Su Singapore (Non-deal roadshow) Thai Oil (TOP.BK) Date 27-28 January, Singapore Analyst Paworamon Suvarnatemee Contact cseq.events@credit-suisse.com or your usual sales representative. Top of the pack ... China Cinda Asset Management Co., Ltd (1359.HK) – Assuming Coverage with O Anson Huang (3) NCB acquisition has been priced in Advanced Info Service PCL (ADVANC.BK) – Upgrade to O Colin McCallum, CA (4) AIS future secured with TOT Corp deal—long-term value at current levels Thai Union Group (TU.BK) – Maintain O Warayut Luangmettakul (5) 51% stake acquisition of German seafood market leader SAVE THE DATE CS pic of the day Philippines Gaming Sector –Monthly indicative Philippine gaming industry GGRConsultant estimates (IMC) show that the industry (ex-PAGCOR) grew 12% YoY in November (11M15: 21% YoY). VIP revenues grew 16% YoY mainly due to strong junket VIP in RWM, possibly on the back of tournaments. Mass and slots’ revenue growth slowed to 8% YoY, likely affected by road closures during the week of the Asia-Pacific Economic Cooperation (APEC) summit. Our FY15 industry (ex-PAGCOR) GGR forecast stands at 18% YoY, slower than the current run rate as we expect 4Q15to be relatively weak.Note: Industry data only includes RWM, BLOOM and CoDM.Source: IMC-20%0%20%40%60%80%100%120%01,0002,0003,0004,0005,0006,0007,0008,000Apr 14Industry GGR (P mn)YoY growthMay 14Jun 14Jul 14Aug 14Sep 14Oct 14Nov 14Dec 14Apr 15May 15Jun 15Jul 15Aug 15Sep 15Oct 15Nov 15Jan 15Feb 15Mar 15 ... and the whole pack Regional Asia Pacific Strategy Kin Nang Chik (6) Credit Suisse GEM valuation snapshot Asia Pacific Strategy Kin Nang Chik (7) Credit Suisse valuation snapshot China China Economics Dong Tao (8) The Economic Working Conference sets the tone for 2016 China Banks Sector – Maintain OW Anson Huang (9) Both pair trade delivered 9% return since late Oct; suggest unwind CEB/CMB pair trade temporarily Tuesday, 22 December 2015 Asian Daily - 2 of 22 - Asian indices - performance (% change) Latest 1D 1W 3M YTD ASX300 5,064.99 0.1 3.6 0.2 (5.3) CSEALL 6,881.75 (0.0) 1.2 (3.3) (5.7) Hang Seng 21,791.68 0.2 2.3 (0.0) (7.7) H-SHARE 9,746.99 1.2 4.6 (0.9) (18.7) JCI 4,490.68 0.5 2.7 3.4 (14.1) KLSE 1,629.09 (0.9) (0.1) (0.4) (7.5) KOSPI 1,981.19 0.3 2.8 (0.0) 3.4 KSE100 32,658.97 (0.4) (0.3) (0.7) 1.6 NIFTY 7,834.45 0.9 2.4 0.3 (5.4) NIKKEI 18,916.02 (0.4) 0.2 4.7 8.4 TOPIX 1,531.28 (0.4) 0.2 4.7 8.8 PCOMP 6,910.34 0.6 2.4 (2.0) (4.4) RED CHIP 4,016.08 0.2 1.8 (1.0) (7.7) SET 1,264.44 (1.6) (0.3) (8.3) (15.6) VNINDEX 566.90 (0.2) 0.8 (1.1) 3.9 Thomson Reuters Asian currencies (vs US$) (% change) Latest 1D 1W 3M YTD A$ 0.72 (0.1) (1.1) 1.1 (12.3) Bt 36.14 0.0 0.1 0.2 9.8 D 22,545 0.2 0.2 0.3 5.5 JPY 121.41 0.2 0.3 1.1 1.4 NT$ 32.83 (0.1) (0.1) (0.2) 3.8 P 47.30 0.1 (0.3) 1.5 5.7 PRs 104.70 0.1 0.0 0.3 4.0 Rp 13,740 (1.3) (2.4) (5.2) 11.0 Rs 66.31 0.0 (1.2) 0.6 5.2 S$ 1.41 (0.2) 0.1 (0.4) 6.4 SLRs 143.25 (0.0) (0.2) 1.7 9.2 W 1,177.00 (0.4) (0.5) (0.6) 7.7 Thomson Reuters Global indices (% change) Latest 1D 1W 3M YTD DJIA 17,146.96 0.1 (1.3) 5.0 (3.8) S&P 500 2,005.55 (1.8) (0.3) 2.4 (2.6) NASDAQ 4,923.08 (1.6) (0.2) 2.0 3.9 SOX 653.72 (1.2) (1.1) 7.0