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ADR Daily Report (Yahoo Finance) | The Market Mavens Report: Global Markets
| Issue | CUSIP | Exchange | Symbol | Ratio* | Industry | |
| ASIA PULP & PAPER COMPANY, LTD. | 04516V100 | NYSE | PAP | 1: | 4 | PAP |
| CITY DEVELOPMENTS LIMITED | 177797305 | OTC | CDEVY | 1: | 1 | RES |
| COSCO INVESTMENT (SINGAPORE) LTD. | 221118102 | OTC | CSCMY | 1: | 5 | TRN |
| CYCLE AND CARRIAGE LIMITED | 232903302 | OTC | CYCRY | 1: | 2 | AUT |
| DBS LAND LIMITED | 23304Q107 | OTC | DBSLY | 1: | 2 | RES |
| DEVELOPMENT BANK OF SINGAPORE LTD., THE | 251594305 | OTC | DEVBY | 1: | 4 | BKS |
| FLEXTECH HOLDINGS LIMITED | 33938R108 | OTC | FLXHL | 1: | 10 | EEI |
| GB HOLDINGS LIMITED | 361493208 | OTC | GBHLY | 1: | 5 | HOT |
| HAI SUN HUP GROUP LTD. | 40521F102 | OTC | HISHY | 1: | 5 | TRN |
| IDT HOLDINGS (SINGAPORE) LIMITED | 44949Y107 | OTC | IDHSY | 1: | 10 | CLE |
| INCHCAPE MOTORS LIMITED | 453250201 | OTC | INCHY | 1: | 1 | MUL |
| KEPPEL CORPORATION LTD. | 492051305 | OTC | KPELY | 1: | 2 | CST |
| KEPPEL CORPORATION LTD. 144A | 492051404 | 144A | KEP144A | 1: | 2 | CST |
| NEPTUNE ORIENT LINES LTD. | 640773206 | OTC | NTOLY | 1: | 4 | TRN |
| OVERSEAS UNION BANK, LIMITED | 689901205 | OTC | OUBLY | 1: | 1 | BKS |
| ROLY INTERNATIONAL HOLDINGS LTD. | 775799109 | OTC | RYIHY | 1: | 10 | HCG |
| SINGAPORE LAND LIMITED | 829293208 | OTC | SINPY | 1: | 1 | RES |
| SINGAPORE TELECOMMUNICATIONS LIMITED | 62929R106 | OTC | SGTCY | 1: | 10 | TEL |
| UNITED OVERSEAS BANK LIMITED | 911271302 | OTC | UOVEY | 1: | 2 | BKS |
| UNITED OVERSEAS LAND LIMITED | 910903301 | OTC | UNOLY | 1: | 4 | RES |
| WANT WANT HOLDINGS CO., LTD. | 93370N106 | OTC | WWHGY | 1: | 2 | MAN |
| * Ratio: You'll probably notice a significant difference in price
of the stock, traded as an ADR and on its home exchange. You can easily
calculate an over- or undervaluation (and, of course, a fair valuation). All
you need is the ratio of ADR to stock, as listed in the table above, and the
exchange rate of the US-Dollar to this country's currency. The following,
generalized example explains how to calculate. On June 26, 1998, the Swiss ADR Sulzer Medica, with a ratio of 10:1, was priced USD 24 7/8. In Zurich, its home exchange, Sulzer traded at 379 Swiss Francs. The Dollar/Franc - Exchange rate was 1.526 (1 Dollar buys 1.526 Swiss Francs). Now we can calculate: Multiply the price in Dollar with the ratio (10): 24 7/8 x 10=USD 248.75. With other words, ten ADR's equal one share of Sulzer Medica and will cost you $248.75 (excluding transaction costs). Now you multiply this Dollar-amount with the exchange rate: $248.75 x 1.526=SFR 379.59. The ADR has been valued fair. The Bank of New York offers free software, which does all the calculation. |