STOCKWATCH: Shangri-La Asia little changed after 2000 results

HONG KONG (AFX-ASIA) - Shangri-La Asia shares were little changed after the release of its 2000 results, dealers said.	    At 3:10 pm, Shangri-La was unchanged at 7.80 hkd, on trade of 290,000 shares.	    The Hang Seng Index was down 481.26 points at 12,673.18.	    In 2000, Shangri-La recorded a net profit of 77.03 mln usd, compared with 66.85 in the previous year.	    Eric Wong, an analyst with UBS Warburg, said the net profit growth was due to the buoyant economy in China and the steady recovery in Hong Kong.	    "The company should have benefited from a better economy in China and Hong Kong," he said.	    China's GDP rose 8.10 pct year-on-year in 2000, while Hong Kong's GDP grew 10.50 pct annually last year.	    "The company had a difficult time for its operations elsewhere, such as in the Philippines and Indonesia," he said.	    Wong said his brokerage has a "Hold" rating for Shangri-La, with a target price 8.07 hkd.	    "There is little upside or downside for the stock, with no excitement," he said. 

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