Genting SP

Genting SP : Credit Suisse sees trend toward "on-shoring wealth" by rich Indonesians , many of whom live in Singapore. Notes the rich are thriving, spending in Spore and increasingly at home where luxury goods were US$1b last yr, double the 2007 level. Adds, its proprietary CS Consumer Suvey shows, Indonesia consumer confidence more generally is high, incomes rising / seen rising further, discretionary spending is back , brand recognition is increasing. Amongst its "Singdonesian" winning stocks, tips Genting SP amongst the Singapore listed plays. Other selected discretionary consumer stocks we note are Osim, Raffles Medical, FJ Benjamin.