Mainland China
Baiyunshan Pharma (874 HK)
Owner of "the Coca-Cola of China" and "the Viagra of China" at 7.6x P/E
Deep-dives
Uni-Charm Indonesia (UCID IJ)
Indonesia’s largest baby diaper maker at 0.5x revenues
Deep-dives
LG Household & Healthcare pref (051905 KS)
Turnaround king "Suk Cha" well placed to deal with short-term COVID problems
Deep-dives
MAP Aktif Adiperkasa (MAPA IJ)
Indonesia’s leading sports retailer expects higher foot traffic post-COVID
Deep-dives
CK Hutchison (1 HK)
The best-run conglomerate in Hong Kong at a ~50% NAV discount
Philippines
Holcim Philippines (HLCM PM)
The highest-quality cement producer in Asia trading at a decade low valuation
Deep-dives
Hanssem (009240 KS)
Hanssem (009240 KS) is Korea’s leading furniture company, selling home furniture and home remodelling services to consumers and interior packages to construction companies. The company’s brand name is excellent. It has dominated the kitchen category for many years. Vertical integration enables it to maintain strong quality control, and
Deep-dives
Fairwood (52 HK)
Fairwood (52 HK) is a Hong Kong fast-food restaurant chain with 172 outlets. It serves a mix of Chinese, Japanese and Western food, catering to the tastes of white-collar workers in Hong Kong. I believe that Fairwood fills a niche. It caters to those who want low-priced
Deep-dives
Sempio Foods (248170 KS)
Sempio Foods (248170 KS) is Korea’s leading soy sauce producer. It has a 60% market share for soy sauce domestically and strength in a variety of related condiments such as bean pastes and chilli sauces. The company was initially established as the Samsi Soy Sauce Brewery in 1946. Founding
Deep-dives
Reader question: The Bank of Kyoto?
Estimated reading time: 16 minutes
Japan
Daiichi Kosho (7458 JP)
Daiichi Kosho (7458 JP) is Japan’s leading producer of karaoke equipment. As you may remember, I discussed Daiichi Kosho in this previous thematic, and I mentioned that I own the stock in a recent portfolio review. I also wrote a deep-dive on Daiichi Kosho’s competitor Koshidaka - a
Deep-dives
Multi Bintang (MLBI IJ)
Multi Bintang (MLBI IJ) is Indonesia’s leading beer producer. The company started in 1929 as “Nederlandsch-Indische Bierbrouwerijen” back when Indonesia was a Dutch colony. Today, Multi Bintang has a market share of almost 60%. Its flagship beer “Bintang Bir” is by far the most popular brand in the