Kam Chung (Kenneth) Fong & team
J.P. Morgan
Kam Chung (Kenneth) Fong shepherds the J.P. Morgan quartet from runner-up to third place. Reporting on 20 companies across Australia, China, Malaysia and Singapore, the Hong Kong–based crew plans to increase its total: “The new casino developments in the Philippines are drawing investors’ attention, and our coverage could expand to include that,” Fong says. The analysts continue to believe that Sands China, which they have been recommending since October 2010, is undervalued. They highlighted their stance in July, at HK$20.76, making the case that the casino operator’s earnings would rise as its newest property, Sands Cotai Central (which opened in April 2012), draws more visitors. In January the company reported that year-over-year net income had soared more than 52 percent in the fourth quarter, to $467 million, and by late April the stock had nearly doubled, to HK$40.70, since the reiteration. During the same period the sector rose 44.9 percent. “If there’s any change in gaming revenue, or the gaming revenue mix changes, Kenneth is the first to know,” marvels one investor. — Katie Gilbert