The Philippines Stock Exchange (PSE) was the best-performing index in Asia in 2011, although it could not match the incredible 37.6% growth it displayed in 2010. Still, the bourse managed to close out the year 4.1% higher, thanks largely to the strong performance of the mining and oil counter. Now managers of the PSE, which is the smallest of South-east Asia’s major stock markets, want to...
Asia Financial Services
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Chapter | Capital Markets from The Report: The Philippines 2012
The Philippines’ well-capitalised banks enjoyed strong profit growth in 2011, and excess liquidity is the main worry at this point. Much-hyped PPP projects could be a fillip for the sector, providing an avenue for lending. A number of factors point to consolidation in the sector, include the labour intensiveness of Philippines banking, rising capital requirements, and merger incentives from the...
The insurance sector, like that of many emerging markets, is small, undersubscribed, poorly staffed and confusingly regulated. However, Mongolia’s growth story has driven annual premium growth of around 20%, and new initiatives should help the industry grow further. Motor insurance, for example, became mandatory on January 1, 2012. Eight firms dominate the sector, with legacy provider Mongolia...
The banking sector has recovered from a financial crisis in 2008-09 that resulted from economic overheating and internal inflation. The sector is set to benefit from an influx of new mining projects, although the scale of the mining enterprises themselves far outstrips the available capital of all top banks combined. Instead, banks will focus on lending to service industries and to consumers who...
Chapter | Capital Markets from The Report: Mongolia 2012
Mongolia’s bourse is the focus of much investor interest, given its massive resource endowment and relative obscurity. In some ways, Mongolian stocks are proxy for Chinese securities, which are unavailable to foreigners; Chinese growth is directly linked to increased demand for Mongolian coal and other minerals. The barriers to investment in the Mongolian Stock Exchange are typical of a small...
The mineral wealth of Mongolia, a vast and isolated land, has brought the world to its doorstep. The country’s economy is one of the fastest growing in the world, and production from and investment in its two largest mines should see GDP growth continue to climb.