Below are publicly disclosed portfolio updates by select value-oriented funds for December and January. The information is taken from filings made directly to the Hong Kong Stock Exchange. Edgbaston Partners: Employee-owned, long-only investment firm established in 2008 by Charu Fernando and partners to specialise in Asia Pacific ex-Japan equity investments. Recent publicly disclosed portfolio activity includes: 6 […]
Category: Investment Ideas
New Year Updates
Happy new year to everyone! Apologies for the lengthy silence, I was travelling for most of December and took a short break from writing to catch up on other things. Below are some long overdue general updates as well as responses to a few questions (paraphrased) that I have received. Travel recommendation: Kanha Tiger Reserve in Madhya Pradesh. According to WWF […]
Ellerston Asian: Thematic Investing
Ellerston Asian Investments (EAI) is an ASX-listed investment company. Launched in September 2015, the fund is Ellerston Capital’s first Asia-focused offering. The portfolio is managed by Mary Manning, who was previously with Oaktree Capital and Soros Fund Management. The fund combines bottom-up analysis with a macro overlay, identifying key thematics likely to drive equity markets in […]
Update On Ming Fai
As expected, Ming Fai has called for a board meeting on December 16 to approve the declaration and payment of a special dividend. If approved, the company will make a further announcement following the board meeting to set out the details of the dividend. For more about the company and situation, see my post here. David […]
Ming Fai: Special Situation
Here is an activist situation in play that could be interesting to follow: Ming Fai is a HK-listed company that both manufactures and supplies amenity products to the hotel, hospitality and travel industries. The core business contributes the majority of the group’s revenue and has been profitable over time. In 2015, for example, the segment generated ~HK$1,678m […]
SiS International: Unlocking Value
SiS International Holdings (SiS) is a HK-listed investment company that operates through three segments: real estate investments, distribution of mobile & IT products and other investments. The majority of the company’s value today is derived from its attractive and sizeable portfolio of real estate assets, which management first started investing in after selling SiS’s IT services business to Jardine Matheson in 2010. The company’s small cap status, limited trading […]
Singapore Shipping Corporation
Singapore Shipping Corporation (SSC) is an SGX-listed company that operates in two segments: shipping activities (70% of revenue) and agency services (30% of revenue). In its shipping segment, the company purchases pure car & truck carriers and leases them out to blue chip charterers on long term contracts. SSC’s agency segment provides a range of services including terminal operations, logistics, warehousing as […]
Scottish Oriental: Watch the Discount
Scottish Oriental Smaller Companies Trust is a listed investment trust that invests in small-cap companies across the Asia-Pacific region. The fund has an impressive track record since its inception in 1995, significantly outperforming its benchmark index over the period. More recently, in the last 10 years, the trust’s share price has increased by ~252% versus an ~154% increase for the […]
1010 Printing: Undervalued
1010 Printing Group (1010) provides printing services to international book publishers as well as print media companies. Its products comprise illustrated leisure & lifestyle books, educational textbooks and children’s books. The company is headquartered and listed in Hong Kong but currently earns the majority of its revenue from Australia and the US (~67% of FY 15 revenue). The company’s small cap […]