Small Caps

Small Caps: CIMB is cautious of small-cap profitability, focuses on de-rated stocks and catalyst specific ones. Tourism – In tandem with Singapore’s jubilee anniversary, and strong London tourism, CIMB likes CDLHT and Guocoleisure. Healthcare – Sees potential in cardiovascular space, likes QT Vascular and Tianjin Zhongxin Tech – Thinks Venture has bottomed out and should see a better CY15, with fatter margins O&M – Focusing on shallow water activities given tepid oil environment. Likes Swissco Consumer – Most resilient still Sheng Siong. Otherwise, likes Overseas Education, catalysts being 1) on time completion of the new campus and 2) proof that it can fill the expanded capacity