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

Thematic (Sector/Industry)

<div>
<p>In a follow up to similar styled notes from 2017-2018-2019</p>
<p><a href="https://www.smartkarma.com/insights/overview-of-my-winners-and-losers-in-2019-and-5-high-conviction-ideas-going-into-2020" target="_blank" data-smartkarma-citation="insights:35000" rel="noopener">Overview of My Winners and Losers in 2019... And 5 High Conviction Ideas Going into 2020</a> </p>
</div><div><p><a href="https://www.smartkarma.com/insights/overview-of-my-winners-and-losers-in-2018-and-5-high-conviction-ideas-going-into-2019" target="_blank" data-smartkarma-citation="insights:26696" rel="noopener">Overview of My Winners and Losers in 2018...and 5 High Conviction Ideas Going into 2019</a> </p></div><div><p><a href="https://www.smartkarma.com/insights/overview-of-my-winners-and-losers-in-2017-and-5-high-conviction-ideas-going-into-2018" target="_blank" data-smartkarma-citation="insights:16368" rel="noopener">Overview of My Winners and Losers in 2017...and 5 High Conviction Ideas Going into 2018</a></p></div><div><p>I again look at my stock ideas that have worked out in 2020, those that have not, and those where the verdict is still pending. I will also highlight 5 new high conviction ideas for 2021.</p></div><div><p>Last year I provided 5 high conviction ideas and here is their performance:</p></div><div><table class="table table-striped"><tbody>
<tr>
<td style="width: 188.19px;">Company</td>
<td style="width: 135.71px;">Share Price 19 Dec 2019</td>
<td style="width: 173.14px;">Share Price 24 December 2020</td>
<td style="width: 64.07px;">Dividends</td>
<td style="width: 80.89px;">% Total Return</td>
</tr>
<tr>
<td style="width: 188.19px;">
<a href="https://www.smartkarma.com/entities/aem-holdings-ltd" target="_blank" data-smartkarma-citation="entities:11019:1" rel="noopener">AEM Holdings (AEM SP)</a> </td>
<td style="width: 135.71px;">1.89 SGD</td>
<td style="width: 173.14px;">3.43 SGD</td>
<td style="width: 64.07px;">0.0081 SGD</td>
<td style="width: 80.89px;">+81.91%</td>
</tr>
<tr>
<td style="width: 188.19px;"><a href="https://www.smartkarma.com/entities/24110" target="_blank" data-smartkarma-citation="entities:24110:1" rel="noopener">Procurri Corporation (PROC SP)</a></td>
<td style="width: 135.71px;">0.48 SGD</td>
<td style="width: 173.14px;">0.28 SGD</td>
<td style="width: 64.07px;">0.000 SGD</td>
<td style="width: 80.89px;">-41.66%</td>
</tr>
<tr>
<td style="width: 188.19px;">
<a href="https://www.smartkarma.com/entities/sunpower-group-ltd" target="_blank" data-smartkarma-citation="entities:18395:1" rel="noopener">Sunpower Group (SPWG SP)</a> </td>
<td style="width: 135.71px;">0.57 SGD</td>
<td style="width: 173.14px;">0.76 SGD</td>
<td style="width: 64.07px;">0.0025 SGD</td>
<td style="width: 80.89px;">+33.77%</td>
</tr>
<tr>
<td style="width: 188.19px;">
<a href="https://www.smartkarma.com/entities/ips-securex-holdings-ltd" target="_blank" data-smartkarma-citation="entities:15717:1" rel="noopener">IPS Securex (IPSS SP)</a> </td>
<td style="width: 135.71px;">0.004 SGD</td>
<td style="width: 173.14px;">0.08 SGD</td>
<td style="width: 64.07px;">0.000 SGD</td>
<td style="width: 80.89px;">+100%</td>
</tr>
<tr>
<td style="width: 188.19px;">
<a href="https://www.smartkarma.com/entities/cosco-shipping-international-8a9750d4-23c7-4832-9b67-2032ca7ec1f3" target="_blank" data-smartkarma-citation="entities:672:1" rel="noopener">Cosco International Holdings (517 HK)</a> </td>
<td style="width: 135.71px;">2.01 HKD</td>
<td style="width: 173.14px;">2.38 HKD</td>
<td style="width: 64.07px;">0.16 HKD</td>
<td style="width: 80.89px;">+26.50%</td>
</tr>
</tbody></table></div>


In a follow up to similar styled notes from 2017-2018-2019
Overview of My Winners and Losers in 2019... And 5 High Conviction Ideas Going into 2020 
Overview of My Winners and Losers in 2018...and 5 High Conviction Ideas Going into 2019 Overview of My Winners and Losers in 2017...and 5 High Conviction Ideas Going into 2018I again look at my stock ideas that have worked out in 2020, those that have not, and those where the verdict is still pending. I will also highlight 5 new high conviction ideas for 2021.Last year I provided 5 high conviction ideas and here is their performance:

Company
Share Price 19 Dec 2019
Share Price 24 December 2020
Dividends
% Total Return



AEM Holdings (AEM SP) 
1.89 SGD
3.43 SGD
0.0081 SGD
+81.91%


Procurri Corporation (PROC SP)
0.48 SGD
0.28 SGD
0.000 SGD
-41.66%



Sunpower Group (SPWG SP) 
0.57 SGD
0.76 SGD
0.0025 SGD
+33.77%



IPS Securex (IPSS SP) 
0.004 SGD
0.08 SGD
0.000 SGD
+100%



Cosco International Holdings (517 HK) 
2.01 HKD
2.38 HKD
0.16 HKD
+26.50%



Overview of My Winners and Losers in 2020...And 5 High Conviction Ideas Going into 2021

<div>
<p>In a follow up to similar styled notes from 2017 and 2018</p>
<p><a href="https://www.smartkarma.com/insights/overview-of-my-winners-and-losers-in-2018-and-5-high-conviction-ideas-going-into-2019" target="_blank" rel="noopener" data-smartkarma-citation="insights:26696">Overview of My Winners and Losers in 2018...and 5 High Conviction Ideas Going into 2019</a> </p>
<p><a href="https://www.smartkarma.com/insights/overview-of-my-winners-and-losers-in-2017-and-5-high-conviction-ideas-going-into-2018" target="_blank" rel="noopener" data-smartkarma-citation="insights:16368">Overview of My Winners and Losers in 2017...and 5 High Conviction Ideas Going into 2018</a></p>
<p>I again look at my stock ideas that have worked out in 2019, those that have not and those where the verdict is still pending. I will also highlight 5 new high conviction ideas for 2020.</p>
</div>
<div>
<p>Last year I provided 5 high conviction ideas and here is their performance:</p>
</div>
<div>
<div>
<table class="table table-striped">
<tbody>
<tr>
<td style="width: 188.19px;">Company</td>
<td style="width: 135.71px;">Share Price 23 Dec 2018</td>
<td style="width: 173.14px;">Share Price 19 December 2019</td>
<td style="width: 64.07px;">Dividends</td>
<td style="width: 80.89px;">% Total Return</td>
</tr>
<tr>
<td style="width: 188.19px;"><a href="https://www.smartkarma.com/entities/14321" target="_blank" rel="noopener" data-smartkarma-citation="entities:14321:1">Future Bright Holdings (703 HK)</a></td>
<td style="width: 135.71px;">0.75 HKD</td>
<td style="width: 173.14px;">0.37 HKD</td>
<td style="width: 64.07px;">0.00 HKD</td>
<td style="width: 80.89px;">-50%</td>
</tr>
<tr>
<td style="width: 188.19px;"><a href="https://www.smartkarma.com/entities/24110" target="_blank" rel="noopener" data-smartkarma-citation="entities:24110:1">Procurri Corporation (PROC SP)</a></td>
<td style="width: 135.71px;">0.27 SGD</td>
<td style="width: 173.14px;">0.48 SGD</td>
<td style="width: 64.07px;">0.00 SGD</td>
<td style="width: 80.89px;">+77%</td>
</tr>
<tr>
<td style="width: 188.19px;">
<a href="https://www.smartkarma.com/entities/sunpower-group-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:18395:1">Sunpower Group (SPWG SP)</a> </td>
<td style="width: 135.71px;">0.33 SGD</td>
<td style="width: 173.14px;">0.61 SGD</td>
<td style="width: 64.07px;">0.0019 SGD</td>
<td style="width: 80.89px;">+86%</td>
</tr>
<tr>
<td style="width: 188.19px;">
<a href="https://www.smartkarma.com/entities/silverlake-axis-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:14150:1">Silverlake Axis (SILV SP)</a> </td>
<td style="width: 135.71px;">0.405 SGD</td>
<td style="width: 173.14px;">0.41 SGD</td>
<td style="width: 64.07px;">0.018 SGD</td>
<td style="width: 80.89px;">+8.1%</td>
</tr>
<tr>
<td style="width: 188.19px;">
<a href="https://www.smartkarma.com/entities/geo-energy-resources-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:8717:1">Geo Energy Resources (GERL SP)</a> </td>
<td style="width: 135.71px;">0.165 SGD</td>
<td style="width: 173.14px;">0.148 SGD</td>
<td style="width: 64.07px;">0.004 SGD</td>
<td style="width: 80.89px;">-8.6%</td>
</tr>
</tbody>
</table>
</div>
</div>


In a follow up to similar styled notes from 2017 and 2018
Overview of My Winners and Losers in 2018...and 5 High Conviction Ideas Going into 2019 
Overview of My Winners and Losers in 2017...and 5 High Conviction Ideas Going into 2018
I again look at my stock ideas that have worked out in 2019, those that have not and those where the verdict is still pending. I will also highlight 5 new high conviction ideas for 2020.


Last year I provided 5 high conviction ideas and here is their performance:






Company
Share Price 23 Dec 2018
Share Price 19 December 2019
Dividends
% Total Return


Future Bright Holdings (703 HK)
0.75 HKD
0.37 HKD
0.00 HKD
-50%


Procurri Corporation (PROC SP)
0.27 SGD
0.48 SGD
0.00 SGD
+77%



Sunpower Group (SPWG SP) 
0.33 SGD
0.61 SGD
0.0019 SGD
+86%



Silverlake Axis (SILV SP) 
0.405 SGD
0.41 SGD
0.018 SGD
+8.1%



Geo Energy Resources (GERL SP) 
0.165 SGD
0.148 SGD
0.004 SGD
-8.6%






Overview of My Winners and Losers in 2019... And 5 High Conviction Ideas Going into 2020

<p>In a follow up to my note from last year <a href="https://www.smartkarma.com/insights/overview-of-my-winners-and-losers-in-2017-and-5-high-conviction-ideas-going-into-2018" target="_blank" data-smartkarma-citation="insights:16368">Overview of My Winners and Losers in 2017...and 5 High Conviction Ideas Going into 2018</a> I again look at my stock ideas that have worked out in 2018, those that have not and those where the verdict is still pending.</p>
<p>Last year I provided 5 high conviction ideas and here is their performance in a brutal year for Asian Stock Markets:</p>
<table class="table table-striped">
<tbody>
<tr>
<td>Company</td>
<td style="text-align: center;">Share Price 27 Dec 2017</td>
<td style="text-align: center;">Share Price 20 December 2018</td>
<td style="text-align: center;">Dividends</td>
<td style="text-align: center;">% Total Return</td>
</tr>
<tr>
<td style="text-align: left;"><a href="https://www.smartkarma.com/entities/14321" target="_blank" data-smartkarma-citation="entities:14321:1">Future Bright Holdings (703 HK)</a></td>
<td style="text-align: center;">0.70 HKD</td>
<td style="text-align: center;">0.88 HKD</td>
<td style="text-align: center;">0.01 HKD</td>
<td style="text-align: center;">+27%</td>
</tr>
<tr>
<td style="text-align: left;"><a href="https://www.smartkarma.com/entities/24110" target="_blank" data-smartkarma-citation="entities:24110:1">Procurri Corporation (PROC SP)</a></td>
<td style="text-align: center;">0.20 SGD</td>
<td style="text-align: center;">0.27 SGD</td>
<td style="text-align: center;">0.0 SGD</td>
<td style="text-align: center;">+35%</td>
</tr>
<tr>
<td style="text-align: left;"><a href="https://www.smartkarma.com/entities/10795" target="_blank" data-smartkarma-citation="entities:10795:1">China Meidong Auto (1268 HK)</a></td>
<td style="text-align: center;">2.39 HKD</td>
<td style="text-align: center;">2.82 HKD</td>
<td style="text-align: center;">0.147 HKD</td>
<td style="text-align: center;">+24%</td>
</tr>
<tr>
<td style="text-align: left;"><a href="https://www.smartkarma.com/entities/15888" target="_blank" data-smartkarma-citation="entities:15888:1">Breadtalk (BREAD SP)</a></td>
<td style="text-align: center;">0.84 SGD</td>
<td style="text-align: center;">0.85 SGD</td>
<td style="text-align: center;">0.02 SGD</td>
<td style="text-align: center;">+3.5%</td>
</tr>
<tr>
<td style="text-align: left;"><a href="https://www.smartkarma.com/entities/20562" target="_blank" data-smartkarma-citation="entities:20562:1">Yong Tai Bhd (YTB MK)</a></td>
<td style="text-align: center;">1.44 MYR</td>
<td style="text-align: center;">0.32 MYR</td>
<td style="text-align: center;">0.0 MYR</td>
<td style="text-align: center;">-79%</td>
</tr>
</tbody>
</table>
<div class="content-caption">source: Refinitiv</div>
<p>4 out of 5 had a positive performance.</p>
<p>Below I will make a new attempt to provide five high conviction ideas going into 2019.</p>

In a follow up to my note from last year Overview of My Winners and Losers in 2017...and 5 High Conviction Ideas Going into 2018 I again look at my stock ideas that have worked out in 2018, those that have not and those where the verdict is still pending.
Last year I provided 5 high conviction ideas and here is their performance in a brutal year for Asian Stock Markets:



Company
Share Price 27 Dec 2017
Share Price 20 December 2018
Dividends
% Total Return


Future Bright Holdings (703 HK)
0.70 HKD
0.88 HKD
0.01 HKD
+27%


Procurri Corporation (PROC SP)
0.20 SGD
0.27 SGD
0.0 SGD
+35%


China Meidong Auto (1268 HK)
2.39 HKD
2.82 HKD
0.147 HKD
+24%


Breadtalk (BREAD SP)
0.84 SGD
0.85 SGD
0.02 SGD
+3.5%


Yong Tai Bhd (YTB MK)
1.44 MYR
0.32 MYR
0.0 MYR
-79%



source: Refinitiv
4 out of 5 had a positive performance.
Below I will make a new attempt to provide five high conviction ideas going into 2019.

Overview of My Winners and Losers in 2018...and 5 High Conviction Ideas Going into 2019

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>This guide is part of a series of M&amp;A guides our Quiddity* team are publishing to aid investors in understanding the rules, parameters, possibilities, and processes when companies conduct M&amp;A.</li>
<li>The initial guide, <em><strong><a href="https://www.smartkarma.com/compose/insight/219720/Quiddity%20Hong%20Kong%20M&amp;A%20Guide%202019.%20Read%20more:%20https:/skr.ma/7bVPk" target="_blank" rel="noopener">Quiddity Hong Kong M&amp;A Guide 2019</a></strong></em>, was published in April 2019. Since that time, there have been various new developments. </li>
<li>This is an update. These insights are designed to be used as a reference. They are not actionable.<strong> For a list of Quiddity M&amp;A Guides, click <a href="https://www.smartkarma.com/search?q=%22quiddity%20M%26A%20Guide%22" target="_blank" rel="noopener">here</a></strong>.</li>
</ul>


This guide is part of a series of M&amp;A guides our Quiddity* team are publishing to aid investors in understanding the rules, parameters, possibilities, and processes when companies conduct M&amp;A.
The initial guide, Quiddity Hong Kong M&amp;A Guide 2019, was published in April 2019. Since that time, there have been various new developments. 
This is an update. These insights are designed to be used as a reference. They are not actionable. For a list of Quiddity M&amp;A Guides, click here.


<ul>
<li>
<strong><a href="https://www.smartkarma.com/entities/zeekr-intelligent-technology-holding" target="_blank" data-smartkarma-citation="entities:36785:1" rel="noopener">ZEEKR (ZK US)</a></strong> traded wide to the scrip terms ahead of <a href="https://www.smartkarma.com/entities/geely-automobile-holdings-ltd" target="_blank" data-smartkarma-citation="entities:127:1" rel="noopener"><strong>Geely Auto (175 HK)</strong></a>'s EGM Vote. That was a buying opportunity. </li>
<li>A positive surprise as SAMR expediently signs off on the <strong><a href="https://www.smartkarma.com/entities/hangzhou-kangji-medical-instrument-co-ltd" target="_blank" data-smartkarma-citation="entities:28938:1" rel="noopener">Hangzhou Kangji Medical Instrument Co., Ltd. (9997 HK)</a></strong> transaction. This could be wrapped up before Xmas.</li>
<li>
<strong><a href="https://www.smartkarma.com/entities/china-mobile-ltd" target="_blank" data-smartkarma-citation="entities:27:1" rel="noopener">China Mobile (941 HK)</a></strong> comfortably clears the 50% conditional threshold into <strong><a href="https://www.smartkarma.com/entities/hkbn-ltd" target="_blank" data-smartkarma-citation="entities:289:1" rel="noopener">HKBN Ltd (1310 HK)</a></strong>; however compulsory acquisition appears out of reach</li>
</ul>



ZEEKR (ZK US) traded wide to the scrip terms ahead of Geely Auto (175 HK)'s EGM Vote. That was a buying opportunity. 
A positive surprise as SAMR expediently signs off on the Hangzhou Kangji Medical Instrument Co., Ltd. (9997 HK) transaction. This could be wrapped up before Xmas.

China Mobile (941 HK) comfortably clears the 50% conditional threshold into HKBN Ltd (1310 HK); however compulsory acquisition appears out of reach


Last Week In Event SPACE: ZEEKR/Geely, Kangji Medical, HKBN, Lynas, Huaxin Cement, Nidec

Hong Kong

PC Partner Group Limited designs, develops, manufactures, and sells computer electronics, including video graphics cards, motherboards, and mini-PCs under brands like ZOTAC, Inno3D, and Manli. The company also provides electronics manufacturing services for various consumer electronic products. Headquartered in Singapore, it was founded in 1997.

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PC Partner (PCPG SP)

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