🌏 Southeast Asia Stock Picks (March 2026)
As mentioned on Monday, I am thinking of doing a more regular (weekly/biweekly etc) post covering whatever equity research and similar relevant research has gotten posted given how lengthy and how long it can take to do these posts (like last month’s given it was earning season). For now, I wanted to get something out this week with this post covering SE Asian stocks from last month (with short stock descriptions, key data, technical charts, etc).
As for my adventures with TM [Telekom Malaysia Bhd (KLSE: TM / OTCMKTS: MYTEF)] switching me from copper (being phased out nationally as its also being stolen left and right…) to fiber: After having my Internet abruptly cut off a few minutes after I got called to say my old account was being terminated on Monday to start the process, a “technician” came came on Wednesday afternoon. Since this is an older condo building, the units just have copper with the fiber being in a closet in the hall/elevator area and a fiber cable needing to be run from there, under the ceiling, and into my unit via a drilled hole by the door.
The “technician” said I needed to pay RM500 cash to do this. I quick ran down to the management office (plus I needed to pay the building a deposit for the work they were about to do in the hall way) to ask whether this cash “fee” was “reasonable…” Someone working there said…. well… yea as she had to pay something to connect where she was living with fiber…………..
I don’t know what contractors tried to charge the Malaysia based manager of Apollo Asia Fund (as I noted on Monday, she had explained her adventures with TM and copper wiring in her neighbourhood being repeatedly stolen in her 4Q2024 report); but she apparently has a house. So I can only imagine how much they might have tried to charge her…
I gave the “technician” RM500 cash (as I really need to have working Internet at home) and he said he would Whatsapp me a receipt when his company issued one (which I have yet to receive………).
I did ask if he worked for TM; but he indicated he or rather the company he worked for was a subcontractor for them. So you can imagine what can happen when a government linked company (GLC) uses subtractors to do their work and just who these subcontracting companies might be linked to, how they get their contracts or how much money or good will TM could be leaving on the table by doing or being forced to do things this way……
With that said, I am happy that this was taken care of within three days with no risk of an unplanned disruption given the national copper phase out and with copper wiring being constantly stolen. And the “technician” did do good work to make the wire as unnoticeable as possible (my router is now closer to the front door as the wire had to be run along the door frame and part of a wall by/on some built in cabinets) and said if I had any problems, to call him and he would fix as soon as possible (no doubt for cash without a receipt again……..). It is important to me to know WHO to call and WHO can quickly fix something – even if the payment “needs” to be cash without a receipt….
I also had to plan/book summer flights on China Airlines (TPE: 2610) as its the big MATTA travel fair this weekend (they offer big discounts during this period) plus Taiwan school holidays makes getting a reasonably priced fare going towards the USA difficult when I prefer to go. Their website for some reason still won’t take my US credit card – meaning I have to go to their nearby office to run the card through and talk to them (since they know me, I have probably ended up saving more money/trouble by doing things this way).
I paid a little over RM4,150 or US$1,000+ – not much higher than the US$900+ I have been paying for the past several years and mainly due to the Ringgit now being the strongest in several years… However, I was told they will soon start charging a fuel surcharge. So if you have not made any upcoming travel plans on any airlines, you better do so now as we can all see where this is heading…
In the USA, my parents have complained that COVID literally gave EVERYONE an excuse to jack up prices out of sight (granted, any price increases there had been fairly moderate for many years only to happen all at once) with the strait of Hormuz crises already “impacting” Popiah prices here in Malaysia:
📰 Bazaar visitors question food price hikes blamed on Middle East conflict | Malaysia
Shopper identified as Fauzi_abdullah claims that the price of food at a Ramadan bazaar he visited had risen by RM2
“Earlier I went to the bazaar and the popia I usually buy had gone up by RM2. I asked why the price had increased. The auntie replied that it was because of the Iran war crisis and ships cannot pass through the Strait of Hormuz. I was stunned,” he wrote.
One commenter wrote, “The popia must have been fried using Iranian oil,” while another joked, “Maybe the popia skin arrived by ship.”
“The Strait of Hormuz was only just blocked. Surely it is too soon for prices to be affected already,” the user commented.
Specific SE Asia stocks covered in this 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 posts – 🌐 Emerging Market Stock Picks (Mid-March 2025), 🌐 Emerging Market Stock Picks (Early April 2025), 🌐 Emerging Market Stock Picks (April 2025), 🌐 Emerging Market Stock Picks (May 2025), 🌐 Emerging Market Stock Picks (June 2025), 🌐 Emerging Market Stock Picks (July 2025), 🌐 Emerging Market Stock Picks (August 2025), 🌐 Emerging Market Stock Picks (September 2025), 🌐 Emerging Market Stock Picks (October 2025), 🌐 Emerging Market Stock Picks (November 2025), 🌐 Emerging Market Stock Picks (December 2025), 🌐 Emerging Market Stock Picks (January 2026) & 🌐 Emerging Market Stock Picks (February 2026)) plus further DeepSeek analysis of this post:
[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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🇮🇩 Indonesia – Bank Central Asia (BCA) Tbk PT, Mayora Indah Tbk PT, Charoen Pokphand Indonesia Tbk PT, Hanjaya Mandala Sampoerna Tbk PT, Pt Astrindo Nusantara Infrastruktur Tbk, Geo Energy Resources, Perdana Gapura Prima Tbk PT, Astra International, Sido Muncul (Sido) Tbk PT, Indo Tambangraya Megah Tbk PT, Energi Mega Persada Tbk PT, Garuda Indonesia (Persero) Tbk PT, Jasa Marga (Persero) Tbk PT, Bumi Serpong Damai Tbk PT, Japfa Comfeed Indonesia Tbk PT, Darma Henwa Tbk PT, Bank Rakyat Indonesia, Dayamitra Telekomunikasi & PT Bank Mandiri Tbk
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🇸🇬 Singapore – HSBC upgrades Singapore equities outlook to overweight, Beng Kuang Marine, Keppel Ltd, iFAST Corporation, Elite UK REIT, Nanofilm Technologies, CapitaLand Ascendas REIT, SATS Ltd, Seatrium Ltd, Q&M Dental, Singapore Technologies Engineering Ltd, CapitaLand China Trust, DBS Group, Singapore Telecommunications Ltd, Food Empire Holdings Ltd, LHN Ltd, Manulife US Real Estate Investment Trust, AEM Holdings, Frencken Group Ltd, UltraGreen.ai Ltd, Nam Cheong Ltd, Sembcorp Industries, Telechoice International Ltd, HRNetGroup, Far East Hospitality Trust, Wee Hur Holdings, Oiltek International Ltd, CDL Hospitality Trusts & UOL Group Limited, Lum Chang Creations, Huationg Global Ltd, Wilmar International, SIA Engineering, 17LIVE Group, Ever Glory United Holdings Ltd, Nordic Group Ltd, InnoTek Ltd, Thakral Corporation Ltd, Ireit Global, ASL Marine Holdings Ltd, Sheng Siong Group, Venture Corporation, UMS Integration Ltd, Info-Tech Systems & CSE Global Ltd
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🇹🇭 Thailand – Central Retail Corporation PCL, i-Tail Corporation PCL, Aeon Thana Sinsap Thailand PCL, Thaicom PCL, TIPCO Asphalt PCL, Star Petroleum Refining PCL, Thaifoods Group PCL, Indorama Ventures PCL, Bangkok Dusit Medical Services PCL, TISCO Financial Group PCL, Bangkok Chain Hospital PCL, Electricity Generating PCL, Com7 PCL, Berli Jucker PCL, SCG Packaging PCL, Siam Cement PCL, Thai Airways International PCL, Hana Microelectronics PCL, Siam Global House PCL, Banpu PCL, Home Product Center PCL, CP Axtra PCL, Asset World Corp PCL, Srisawad Corporation PCL, Charoen Pokphand Foods PCL, Bangkok Commercial Asset Management PCL, PTT Public Company Limited & Land and Houses PCL
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Readers can decide whether DeepSeek insights or summary about these stocks are accurate. This time around, DeepSeek has produced a report in a much different and seemingly more comprehensive format (I presume they have been making improvements):
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…
📈🗄️ Fund documents / updates; ⚠️ Disclosures or restricted access e.g. based on your location, investor status, etc.; 🇼 Wikipedia page; 🔬 Research analysis (including articles/blog posts from fund managers, etc.); 🎥 Video; 🎙️ Podcast; 🎬 Webinar; 📰 Newspaper/magazine article; 📯 Press release; 💻 Substack/blog/website article; ✅ Our own posts; 🗃️ Linked archived article; ⏰ Upcoming webinar or event.
Note: Various DBS sites (Insights Direct, DBS Treasures, etc.) have good coverage of SE Asia and some Chinese/Hong Kong stocks, but some sites are restricted by geography (need VPN) or are harder to search for new research pieces…
🔬 BBCA – Inline earnings with attractive valuation support (KB Valbury Sekuritas) 31 March 2026 ⚠️
🔬 MYOR – FY25 top line met our forecast, yet missed consensus (KB Valbury Sekuritas) 30 March 2026 ⚠️
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🇮🇩 Mayora Indah Tbk PT (IDX: MYOR / FRA: D7V / OTCMKTS: PTMYF) – Food & beverage company recognized as the world’s largest coffee candy manufacturer through the Kopiko brand. 3 segments: Packaged Food Processing, Packaged Beverages Processing & Financial Services. 🇼 🏷️
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Price/Book (Current): 2.30
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Forward P/E: 13.11 / Forward Annual Dividend Yield: 2.95% (Yahoo! Finance)
🔬 CPIN – Excellent FY25 results, came way above expectations (KB Valbury Sekuritas) 27 March 2026 ⚠️
🔬 HMSP – Inline FY25 earnings; below cons. forecast (KB Valbury Sekuritas) 25 March 2026 ⚠️
🔬 BIPI: Not Rated – Place Your Bets (Samuel Sekuritas Indonesia) 17 March 2026 ⚠️
📰 PhillipCapital’s Chew raises target price for Geo Energy to 75 cents (The Edge Singapore) Mar 16, 2026 $
