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Suzanne Harrison

Pacific Andes International Recommendation: Buy Brokerage: South China Research PACIFIC Andes is a seafood products trader and processor that has acquired a big new business opportunity in vegetable farming and processing.

 South China Research has placed a buy recommendation on the stock, saying management expects the new business to be a strong contributor to net profit margin.

 A significant reduction in debt from $845 million to $495 million had lowered the company's gearing from 139 per cent to 80 per cent, the brokerage said.

Hongkong & Shanghai Hotels Recommendation: Hold Brokerage: Core Pacific- Yamaichi HONGKONG & Shanghai Hotels' main assets are the Peninsula hotel in Kowloon, the Kowloon Hotel and the New York Peninsula Hotel.

 It also owns office and retail space in the two Hong Kong hotels, and has the Repulse Bay complex.

 Core Pacific-Yamaichi has reinstated its hold recommendation on the stock, citing an 11 per cent decline in the share price since it first downgraded it to hold after poor first-half results.

 The brokerage said it maintained the recommendation as valuations were no longer attractive and earnings would probably disappoint again next year.

Moulin International Recommendation: Outperform Brokerage: DBS Securities MOULIN International designs, manufactures, sells and distributes optical products.

 DBS Securities recommends the stock as an outperformer, basing this on the company's establishment of a strong franchise.

 The brokerage said that for the full year to March, Moulin reported 20 per cent growth in net profit to $227 million, up from $189 million previously.

 Turnover grew by 16 per cent to $811 million, mainly driven by an increase in manufacturing sales to the US and Europe, as well as a boost in distribution sales from new licensed brand names, DBS said.



New business bodes well for the prospects of Pacific Andes