Portfolio update September 2025
A weak month for the portfolio, but with three deep dives published, plenty to think about.
An attempt to find the best businesses in Singapore. Estimated reading time: 24 minutes
Singapore small-cap conglomerate run by a legendary entrepreneur
COVID-19 restrictions have largely gone away and the borders have re-opened. Estimated reading time: 16 minutes
Health & beauty benefitting from a HK-China border reopening but weaker post-COVID grocery profits. Estimated reading time: 14 minutes
Singapore's resort casino operator facing a border reopening and a 2nd phase expansion
A clean bet on the recovery of the Indonesian auto market