05.21.2001
Minimal impact from MSCI inclusion

• Networking companies Accton (2345 'Zhi Bang') and D-Link (2332 'You Xun') have been included in the revised MSCI Taiwan Index. We do not foresee any major impact on the share prices of these companies as QFII already have substantial holdings in Accton (14% as of 18 April) and D-Link (11% as of 18 April).

• VB Primasia Investment Opinion: We recommend a BUY on Accton on a P/E of 14-15x.

BennyLo@Primasia.com +886-[0]2-2547-8869