Global Stock Writeups

Jardine Strategic is one of the two key cross-holding companies within the Jardine Matheson group, with interests in hotels globally, commercial property, auto distribution and trading in Hong Kong and South-East Asia. Always trading at a discount, as management has been permanently perceived as working as much for themselves as for outside shareholders, the current 43% is the bottom end of the range, and should tend to bring the family back in to buy more. Will be sold when it reaches a 25% discount.

Sedol	Type	Price	Date
6472960	Buy	USD 15.605	11/01/2008

Johnson Matthey is a UK chemicals company. It is perhaps best known for its platinum business but, in reality, this only accounts for around 25% of operating profits; far more significant is the manufacture and design of catalytic converters for diesel engines, where the company is amongst the world's largest players. The increasing market share of diesel cars globally, coupled with environmental concerns and regulations, makes this a massive growth area. As revenue expands costs, driven by lower oil and steel prices, are falling. In addition the platinum business has a strong global brand and will continue to contribute to profit growth.

Sedol	Type	Price	Date
0476407	Buy	£ 16.15	16/02/2007
0476407	Buy	£ 14.981	15/01/2007