Source: International Herald Tribune

By Chen Shiyin, Bloomberg News

SINGAPORE: Cement stocks are the least expensive bet on the first Southeast Asian building boom in a decade, having trailed property and building shares in the past six months, analysts say.

Shares of the three biggest cement makers in Malaysia, Singapore, Thailand, Indonesia and the Philippines are valued about a third less than those of developers. The average price/earnings ratio for the 15 stocks is almost half that of construction companies.

Cement stocks "look interesting as they're still cheap, especially compared to some property developers," said Mark Tan at UOB Asset Management in Singapore. "We're only at the initial stages of the building cycle. A lot of investment has been pushed back for too long."

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Posted by pichu at July 26, 2007 09:52 PM