CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

Thematic (Sector/Industry)

<ul>
<li>We highlight 10 stocks in China that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Two stocks remain, eight new join the fray</li>
<li>Since inception, it has gained 172% versus the CSI 300 Index’s return of 61%</li>
</ul>


We highlight 10 stocks in China that look interesting to us based on our FVMR Methodology
Portfolio changes: Two stocks remain, eight new join the fray
Since inception, it has gained 172% versus the CSI 300 Index’s return of 61%


<ul>
<li>We highlight 10 stocks in China that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Four stocks remain, six new join the fray</li>
<li>Since inception, it has gained 150% versus the CSI 300 Index’s return of 53%</li>
</ul>


We highlight 10 stocks in China that look interesting to us based on our FVMR Methodology
Portfolio changes: Four stocks remain, six new join the fray
Since inception, it has gained 150% versus the CSI 300 Index’s return of 53%


<ul>
<li>We highlight 10 stocks in China that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Three stocks remain, seven new join the fray</li>
<li>Since inception, it has gained 172% versus the CSI 300 Index’s return of 62%</li>
</ul>


We highlight 10 stocks in China that look interesting to us based on our FVMR Methodology
Portfolio changes: Three stocks remain, seven new join the fray
Since inception, it has gained 172% versus the CSI 300 Index’s return of 62%


IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dyna-mac-holdings-ltd" target="_blank" data-smartkarma-citation="entities:16153:1" rel="noopener">Dyna Mac Holdings (DMHL SP)</a> disclosed a revised conditional offer from <a href="https://www.smartkarma.com/entities/hanwha-aerospace-co-ltd" target="_blank" data-smartkarma-citation="entities:504:1" rel="noopener">Hanwha Aerospace (012450 KS)</a> and <a href="https://www.smartkarma.com/entities/hanwha-ocean-co-ltd" target="_blank" data-smartkarma-citation="entities:12531:1" rel="noopener">Hanwha Ocean (042660 KS)</a> at S$0.67, an 11.7% premium to the initial S$0.60 offer.</li>
<li>The Estate (largest shareholder) stated that the previous S$0.60 offer was not compelling. The final offer addresses most of the Estate’s valuation concerns.</li>
<li>The Estate’s view and IFA opinion in the circular (despatched by 23 October) will be crucial to the acceptance rate. They are likely to support the final offer. </li>
</ul>



Dyna Mac Holdings (DMHL SP) disclosed a revised conditional offer from Hanwha Aerospace (012450 KS) and Hanwha Ocean (042660 KS) at S$0.67, an 11.7% premium to the initial S$0.60 offer.
The Estate (largest shareholder) stated that the previous S$0.60 offer was not compelling. The final offer addresses most of the Estate’s valuation concerns.
The Estate’s view and IFA opinion in the circular (despatched by 23 October) will be crucial to the acceptance rate. They are likely to support the final offer. 


Dyna-Mac (DMHL SP): Hanwha’s Final Offer Could Get the Deal Done

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dyna-mac-holdings-ltd" target="_blank" data-smartkarma-citation="entities:16153:1" rel="noopener">Dyna Mac Holdings (DMHL SP)</a> disclosed a voluntary conditional offer from <a href="https://www.smartkarma.com/entities/hanwha-aerospace-co-ltd" target="_blank" data-smartkarma-citation="entities:504:1" rel="noopener">Hanwha Aerospace (012450 KS)</a> and <a href="https://www.smartkarma.com/entities/hanwha-ocean-co-ltd" target="_blank" data-smartkarma-citation="entities:12531:1" rel="noopener">Hanwha Ocean (042660 KS)</a> at S$0.60, a 21.2% premium to the undisturbed price.</li>
<li>The offer is conditional on regulatory approval (Competition and Consumer Commission of Singapore) and a 50% minimum acceptance condition. </li>
<li>The offer is reasonable compared to peer multiples. However, it may face resistance as it is below the recent high of S$0.615 and Dyna-Mac's improving outlook (S$681 million order book). </li>
</ul>



Dyna Mac Holdings (DMHL SP) disclosed a voluntary conditional offer from Hanwha Aerospace (012450 KS) and Hanwha Ocean (042660 KS) at S$0.60, a 21.2% premium to the undisturbed price.
The offer is conditional on regulatory approval (Competition and Consumer Commission of Singapore) and a 50% minimum acceptance condition. 
The offer is reasonable compared to peer multiples. However, it may face resistance as it is below the recent high of S$0.615 and Dyna-Mac's improving outlook (S$681 million order book). 


Dyna-Mac (DMHL SP): Hanwha’s Voluntary Conditional Offer

China

Offshore Oil Engineering Co., Ltd. provides offshore oil engineering services, including designing, construction, installation, and repair and maintenance services.  The Company's main businesses include oil/gas exploration engineering, subsea pipeline laying, oil/gas field equipment testing and maintenance, as well as pressure container and steel structure manufacturing.

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Offshore Oil Engineering A (600583 CH)

The Stocks to Own in China – Vol. 36

We highlight 10 stocks in China that look interesting to us based on our FVMR Methodology. Portfolio changes: Two stocks remain, eight new join the...

A. Stotz Investment Research

The Stocks to Own in China – Vol. 35

We highlight 10 stocks in China that look interesting to us based on our FVMR Methodology. Since inception, it has gained 150% versus the CSI 300...

A. Stotz Investment Research

The Stocks to Own in China – Vol. 34

We highlight 10 China A stocks that look interesting to us based on our FVMR Methodology. Portfolio changes: Three stocks remain, seven new join...

A. Stotz Investment Research

Dyna-Mac (DMHL SP): Hanwha’s Final Offer Could Get the Deal Done

The Estate’s view and IFA opinion in the circular (despatched by 23 October) will be crucial to the acceptance rate. They are likely to support the...

Arun George

Dyna-Mac (DMHL SP): Hanwha’s Voluntary Conditional Offer

The Lim Estate’s statement notes that Dyna-Mac “is definitely worth more than SGD 0.60 per share. The Estate is not opposed to proposed offers for...

Arun George

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