Portfolio
Portfolio update May 2022
Solid contributions from Jardine C&C, CNOOC and Multi Bintang. Estimated reading time: 19 minutes
Latest
Links
Monday morning links
Japanese border reopening, FANUC, YUM China, A2 Milk, KSK, YAVB podcast
Japan
FANUC (6954 JP)
World leader in CNC devices and industrial robots to enjoy yet another cycle
Links
Monday morning links
China April statistics, Macau junket operators, CNOOC, industrial robots
Thematic reports
The industrial robot cycle
Close to the peak of the cycle, but automotive automation equipment more promising than electronics and P/B low across the board. Estimated reading time: 13 minutes
Ask Me Anything on Asian equities
Feel free to ask anything that's on your mind
Deep-dives
CNOOC: 2022 update
Negative effect from US sanctions on CNOOC dissipating, crude oil prices at record levels while valuation multiples are half the global peer group's. Estimated reading time: 13 minutes.
Links
Monday morning links
China's ban on non-essential overseas travel, Indian inflation, Uni-President China, Tencent, Nvidia, Shein
Mainland China
Uni-President China (220 HK)
Ready-to-drink tea and instant noodles leader below 10x normalised EBIT
What you missed from Asian Century Stocks
A monthly reminder of the best posts you've missed
Links
Monday morning links
Election in the Philippines, Ten Sixty Four, Bridgewater's outlook, capital controls
Australia/NZ
Ten Sixty Four (X64 AU)
Cash-rich Philippine gold miner listed in Australia