New Asia Realty & Trust Brokerage: South China Research Recommendation: Buy NEW Asia Realty & Trust is a holding company with interests in rental properties and real estate companies in Hong Kong. Recent land auctions have confirmed the property market is on an upward trend and the group is certain to benefit because of its focus on residential properties. In its latest interim results, New Asia Realty announced profit growth of 312 per cent. The dramatic increase was due to an asset swap with Wharf Holdings, and disposal of long-term listed investments. Earnings growth of 185 per cent is expected for 1996. Henderson Investment Brokerage: Salomon Brothers Recommendation: Buy HENDERSON Investment is a holding company whose subsidiaries are active in property development and investment, investment holding, retailing, and hotels. Henderson has announced interim net profit of $1.34 billion, up 115 per cent year-on-year, and 22 per cent higher than estimated. The share price is forecast to hit $9.50 within 12 months, outperforming the Hang Seng Index's expected growth by 22 per cent. The desire of its parent company Henderson Land Development to become a conglomerate continues to offer the prospect of capital gains via an asset shuffle. Sime Darby (Hong Kong) Brokerage: ING Barings Recommendation: Sell SIME-DARBY distributes motor vehicles and construction equipment and trades industrial, mechanical and electrical products. The company is likely to continue to struggle as there is no major improvement in demand for vehicles in Hong Kong or China.