Tysan Holdings Brokerage: Tai Fook Securities Recommendation: Buy TYSAN Holdings is a company engaging in foundation piling, machinery hiring and trading, and property investment and development. Tysan is protected against high levels of competition as construction is capital-intensive and this creates a barrier for other firms wishing to enter the industry. The company has a highly trained staff and a reputation for always finishing projects on schedule. Operating profit surged more than 900 per cent in 1995 and is forecast to increase a further 49 per cent in 1996. Tai Fook Securities recommends a buy. Qingling Motors Brokerage: Credit Lyonnais Securities Asia Recommendation: Sell QINGLING Motors is a Chinese state-owned minibus and light truck maker. It reported a disappointing interim net profit of 30 million yuan (about HK$27 million), a fall of 87 per cent on the year. The poor results were mainly due to lower-than-expected volume sales and higher-than-expected sales price declines on its Isuzu N-series light trucks. Long-term growth will be dampened by increasing competitiveness in the light truck market. For this reason, Credit Lyonnais recommends a sell. Bank of East Asia Brokerage: Kleinwort Benson Securities Recommendation: Sell BANK of East Asia provides general banking and related financial services. With the acquisition of United Chinese Bank, it now has 88 local branches. It also operates branches in the US, Britain, China, Taiwan and Canada. The bank is actively striving for growth. Its interims were impressive but earnings quality remains inferior to Hang Seng Bank, according to brokerage Kleinwort Benson Securities. With market conditions still not ideal, the share's premium rating is hard to justify, Kleinwort says. It recommends a sell.