Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul><li><a href="https://www.smartkarma.com/entities/19950" target="_blank" data-smartkarma-citation="entities:19950:1">Oriental Watch Holdings (398 HK)</a> is a HK/China watch retailer listed in HK since 1993</li><li>Rental prices in HK have dropped sharply and consumer sentiment in HK is improving</li><li>Oriental reached peak valuation of 6.2 HKD in July 2011</li><li>Oriental bottomed at 0.9 HKD in July 2016</li><li>With shares recently around 1.75 HKD they have doubled from last year but are still very cheap</li><li>Market cap is 1B HKD (128M USD) but EV only 221M HKD (28M USD)</li><li>First Half results showed turnaround, Second Half to be even better</li><li>Management moving to 90% payout as expansion plans are on hold: potential 10% yield in 2018</li><li>Fair Value: should trade at least at 0.75x book (2.9 HKD), or 65% upside </li></ul>

Oriental Watch Holdings (398 HK) is a HK/China watch retailer listed in HK since 1993Rental prices in HK have dropped sharply and consumer sentiment in HK is improvingOriental reached peak valuation of 6.2 HKD in July 2011Oriental bottomed at 0.9 HKD in July 2016With shares recently around 1.75 HKD they have doubled from last year but are still very cheapMarket cap is 1B HKD (128M USD) but EV only 221M HKD (28M USD)First Half results showed turnaround, Second Half to be even betterManagement moving to 90% payout as expansion plans are on hold: potential 10% yield in 2018Fair Value: should trade at least at 0.75x book (2.9 HKD), or 65% upside 

Oriental Watch: 0.45x Book, 2x 2018 Ex-Cash P/E, 78% of Mkt Cap Is Cash; 10% Dividend Likely in 2018

Hong Kong

Emperor Watch & Jewellery Ltd retails luxurious branded watches, and offers design and sales of jewellery products.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Emperor Watch & Jewellery (887 HK)

Oriental Watch: 0.45x Book, 2x 2018 Ex-Cash P/E, 78% of Mkt Cap Is Cash; 10% Dividend Likely in 2018

Oriental Watch Holdings (398 HK) is a HK/China watch retailer listed in HK since 1993 Rental prices in HK have dropped sharply and consumer...

Nicolas Van Broekhoven

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)