Portfolio update September 2025
A weak month for the portfolio, but with three deep dives published, plenty to think about.
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Bermaz Auto (BAUTO MK)
Ongoing Mazda product refresh and EV tax exemption expiry while 5x P/E
Concepcion Industrial (CIC PM)
Philippine air-conditioning giant at 7x P/E and 7% dividend yield
Golden Throat (6896 HK)
China’s leading lozenge maker at 10x P/E and a 10% dividend yield
Portfolio update August 2025
AeroEdge saves the portfolio. Estimated reading time: 26 minutes
A new era for Jardine Matheson
An under-the-radar transformation. Estimated reading time: 27 minutes.
Haier D-share (690D GR) — 2025 update
World-leading home appliances business at 7x P/E. Estimated reading time: 15 minutes
Hidden Champions of Thailand
Top 25 companies of Thailand. Estimated reading time: 34 minutes.