Value Partners recently trimmed their stake in HK-listed TK Group Holdings (TK Group). According to a filing made to the Hong Kong Stock Exchange on March 24th, 2017, the firm sold 696,000 shares on the exchange at an average price of HKD 2.517 per share on March 21st (total consideration was ~US$225,500). Following the sale, their stake in TK Group decreased from 8.03% […]
Cheah Cheng Hye On Star Media
Cheah Cheng Hye, the founder of Value Partners, was a recent guest on Star Media’s Power Talks series. The event was held in Malaysia. He gave a speech about some of the lessons he has learnt over the course of his ~46 year career as both a journalist and an investment manager. He also answered audience questions on a wide range […]
Briarwood Adds To Zhong Ao Home Group
Briarwood Capital Partners (Briarwood) recently added to their stake in HK-listed Zhong Ao Home Group (Zhong Ao). According to a filing made to the Hong Kong Stock Exchange on March 23rd, 2017, the firm purchased 578,000 shares on the exchange at an average price of HKD 1.16 per share on March 22nd (total consideration was ~US$86,000). Following the purchase, Briarwood’s stake […]
Readings For The Week (26/3)
A China-weighted reading list this week. Highlights include a look at the online-to-offline shift in Chinese retail, an interview with Ctrip’s CEO Jane Jie Sun and a profile of Chinese boulangerie chain Wedomé. Also, Peter Tasker on why Japanese small cap stocks deserve more attention and the FT’s lunch with Jean-Claude Juncker. Grocery wars: Alibaba and JD.com are moving […]
Farallon Adds To Luzheng Futures
Farallon Capital (Farallon) recently added to their stake in HK-listed Luzheng Futures (Luzheng). According to a filing made to the Hong Kong Stock Exchange on March 17th, 2017, the firm purchased 499,000 shares on the exchange at an average price of HKD 1.743 per share on March 15th (total consideration was ~US$112,000). Following the purchase, Farallon’s stake in Luzheng […]
David Webb Buys More Kingmaker
David Webb recently added to his stake in HK-listed Kingmaker Footwear Holdings (Kingmaker). According to a filing made to the Hong Kong Stock Exchange on March 20th, 2017, he purchased 50,000 shares on the exchange at an average price of HKD 2.08 per share on March 15th (total consideration was ~US$13k). Following the purchase, Webb’s stake in Kingmaker […]
Li Lu’s 2015 Speech at Peking University
In October 2015, value investor Li Lu spoke to students at Peking University’s Guanghua School of Management on the prospects for value investing in China. He is the founder of Himalaya Capital, which manages a fund that focuses on public securities and privately held companies in both Asia and North America. Berkshire Hathaway vice-chairman Charlie Munger is an […]
Lynas Capital: Value, Growth, Quality
Lynas Capital (Lynas) is an independent fund manager based in Hong Kong. The firm was established by David Devine in 2002. He initially managed a private pilot fund for two years before launching the Lynas Asia Fund. Prior to founding Lynas, Devine was with Overlook Investments for ten years. For more on Overlook, you can see my post here. Devine’s twenty […]
Readings For The Week (19/3)
This week’s readings include Neal Cross of DBS on the truths and myths about fintech, Jardine Matheson’s preliminary announcement of its 2016 results, Arisaig’s February letter, Jeff Towson on how Alibaba is disrupting Chinese entertainment and Kishore Mahbubani on the Asean miracle. The fintech files: Neal Cross of DBS shares three truths and two myths about fintech in […]
Kennox Comments on Texwinca
The Kennox Strategic Value Fund’s 4Q 2016 report included some commentary on Texwinca Holdings (Texwinca). As of the end of February 2017, Texwinca was the fourth largest holding of the fund (~4.1% of the portfolio). Highlights / excerpts are included below. Company overview: Hong Kong listed textile company; core business provides high-end fabrics to global branded clothing […]