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OCR: BUSINESS & INDUSTRY noys high-performers like MBf. "People often say we are not focused," says Albert Chan, MBf's sen- ior vice-president. "We believe it is more a lack of understanding of what we do. We know what we are doing and our figures, which have been sterling for the last four years, speak for themselves." Guoco, which since 1989 has achieved an im- pressive 42 per cent annual per-share earnings growth, is another frustrated potential blue chip. Although basically a banking stock (with additional interests in property, manufacturing and trading), it Some of our is priced at a huge discount to competitors such as Bank of East Asia and Hang Seng Bank. best clients The research director of one leading interna- tional stockbrokerage, who admits that he rates leave financial concerns Guoco highly, says institutional investors some- times ask why its at home stock is so cheap when they travel Emirates when its perform- ance is so good. abroad. "Really, it is a perception thing," he explains. "The HILL SAMUEL family is not PRIVATE RANKERS trusted by the Hill Samtiel Merchant Bank Asia Limited 1 Raffles Place #19-02 OUB Centra Singapore 0104 Ielex: R $ 28258 HSA SIA Fax: 532 2493 Tel: 534 1191