Hongkong Electric Recommendation: Buy Brokerage: Jardine Fleming HONGKONG Electric is engaged in the generation and supply of electricity, engineering consulting and project management.
A recent visit to the company confirmed its status as a safe haven during the period of speculative attacks on the Hong Kong dollar and higher interest rates.
Finance director Lawrence Do said 98 per cent of the company's debt is in Hong Kong dollars, matching revenues, and 60 per cent of its $16 billion debt has fixed interest.
The company is confident it will win Government approval by mid-1998 for building new capacity at Lamma Island.
First Tractor Recommendation: Buy Brokerage: Credit Lyonnais Securities Asia FIRST Tractor is the largest tractor manufacturer in China, both in production volume and sales value.
The company is well-positioned to benefit from the government's preferential policies towards agriculture, as well as from accelerating growth in the sector.
It is the only listed purely agricultural-machinery play in the H-share market. Agriculture has emerged relatively unscathed from the austerity crunch and will achieve long-term development.