Bank of America Merrill Lynch maintained its neutral rating on No. 1 Taiping (0142.HK), indicating that its various business performance was generally stable, while its business in the Philippines and Indonesia was mainly affected by the recent Southeast Asian currency crisis. It believed that the value of its listed investments would be affected as exchange rates continued to fluctuate; in response to weaker exchange expectations, it lowered its earnings forecast per share for fiscal year 13-15 by 11%-12%; lowered its target price from HK$10 to HK$9.2.

Savills engages in telecommunications, consumer food products, real estate and infrastructure businesses.