< The 2016 All-Asia Research Team
Angello Chan, Chi Hung (Raymond) Ngai & team
Bank of America Merrill Lynch
First-place appearances: 2
Total appearances: 14
Team debut: 1994
“They are among the most experienced teams in Hong Kong, and their seniority doesn’t hinder their energy,” says one portfolio manager of Bank of America Merrill Lynch’s researchers. The 30-strong group under the guidance of Angello Chan and Chi Hung (Raymond) Ngai slips to third place after three straight years at No. 2. Investors hail their ongoing optimism on Sino Land Co., whose operations include commercial and residential property development as well as investing and other financial services. In February, with the shares down 11.3 percent over the trailing 12 months, to HK$10.86 — but ahead of the broad domestic market by 5.3 percentage points — the analysts reiterated their positive outlook, crediting Sino Land’s strong cash reserves and management’s share-buyback program. By late April the stock had rallied to HK$12.36, for a gain of 14.9 percent against the 11.8 percent rise delivered by its Hong Kong peers, and they believe that a price of HK$13.40 is justified. “Their in-depth knowledge, timely service and extensive insights over several cycles are all highly important to our investment decisions,” reports another admirer. Chan, Ngai and their colleagues follow some 200 companies in this space. In addition, Chan, 51, and Amish Shah co-captain a squad that merits a runner-up position on the Power roster. Forty-eight-year-old Ngai, together with Cheong-Ga (Karl) Choi, oversees the No. 3 team on the Property lineup.
