Global Special Situations & Strategy, SR Services Ltd

David Lepper

Global Special Situations & Strategy

SR Services Ltd

SR Services provides Strategic Knowledge and Solutions services for Family Offices and Corporate Business. 

We deliver this via advisory services, strategic planning, opportunity analysis/sourcing, as well as solution implementation. 

Whilst, we create intellectual discipline and operational leverage for your projects or daily activities, our ultimate objective is to empower whilst enhancing your decision making. 

Strategic Knowledge and Solutions

Cross Asset Strategy

<p>Growth as a style has been the “norm” for years, is the “norm” about to end? The continued strategies by Central Bank’s towards a “<em>lower for longer stance around interest rates</em>”, extended the underperformance of value for most of 2020. However, with the value/growth investment style ratio at 20-year lows, we present 27 names which hold characteristics worthy of further review. </p>

Growth as a style has been the “norm” for years, is the “norm” about to end? The continued strategies by Central Bank’s towards a “lower for longer stance around interest rates”, extended the underperformance of value for most of 2020. However, with the value/growth investment style ratio at 20-year lows, we present 27 names which hold characteristics worthy of further review. 

Screening the Silk Road: Q1 2021 All Cap Screening - Free Cashflow (FCF)

Global Healthcare Analyst

Tina Banerjee

Equity Capital Markets

Foundation Healthcare Holdings / Equity Capital Markets

<ul>
<li>Foundation Healthcare, Singapore’s largest private multi-specialty healthcare network, has filed for Singapore IPO. The IPO will consist of fresh issue as well as OFS from SeaTown (indirectly owned by Temasek).</li>
<li>The company plans to use IPO proceeds to fund acquisitions in Singapore, investments to support expansion plans in new geographies, and for general corporate and working capital purposes.</li>
<li>Foundation Healthcare has a proven track record of strong growth in revenue and Adjusted EBITDA. With scalable business model, bottomline outpaced revenue growth.</li>
</ul>


Foundation Healthcare, Singapore’s largest private multi-specialty healthcare network, has filed for Singapore IPO. The IPO will consist of fresh issue as well as OFS from SeaTown (indirectly owned by Temasek).
The company plans to use IPO proceeds to fund acquisitions in Singapore, investments to support expansion plans in new geographies, and for general corporate and working capital purposes.
Foundation Healthcare has a proven track record of strong growth in revenue and Adjusted EBITDA. With scalable business model, bottomline outpaced revenue growth.


Foundation Healthcare Pre-IPO: Leadership Amid Favorable Market Dynamics to Drive Sustainable Growth

Quality-first, Business-perspective, Long-term, Urbem (HK) Limited

Urbem Capital

Quality-first, Business-perspective, Long-term

Thematic (Sector/Industry)

<ul>
<li>Founder-led businesses are supposed to receive more appreciation among investors;</li>
<li>It would be intriguing to explore how Chinese founders and business owners pay themselves, as executive compensation is a significant part of corporate governance, a common weakness among most Chinese public companies;</li>
<li>We examine a pool of selected value-generative, founder-led, Chinese businesses across industries, and market caps to demonstrate the similarity and any dissimilarity.</li>
</ul>


Founder-led businesses are supposed to receive more appreciation among investors;
It would be intriguing to explore how Chinese founders and business owners pay themselves, as executive compensation is a significant part of corporate governance, a common weakness among most Chinese public companies;
We examine a pool of selected value-generative, founder-led, Chinese businesses across industries, and market caps to demonstrate the similarity and any dissimilarity.


<ul>
<li>Beaten-down industries often offer rare opportunities for investors to buy quality businesses at attractive prices;</li>
<li>We feel that the valuations of a few Hong Kong-based beauty service providers seem at least reasonable;</li>
<li>Then the question would be whether the "cheap" business is truly of high quality (i.e., a well-moated compounder);</li>
<li>As always, we advocate focusing solely on winners that are persistently profitable, high-return, and cash-rich;</li>
<li>We took a look at three such players in this space and concluded with only one of them worth an "investable" status.</li>
</ul>


Beaten-down industries often offer rare opportunities for investors to buy quality businesses at attractive prices;
We feel that the valuations of a few Hong Kong-based beauty service providers seem at least reasonable;
Then the question would be whether the "cheap" business is truly of high quality (i.e., a well-moated compounder);
As always, we advocate focusing solely on winners that are persistently profitable, high-return, and cash-rich;
We took a look at three such players in this space and concluded with only one of them worth an "investable" status.


A Look at Hong Kong's Beaten-Down Beauty Service Stocks

<ul>
<li>Warren Buffett's dream business, well exemplified by Berkshire's See's Candies, is the one that can deliver a sizable increase in earnings power through minimal capital reinvested;</li>
<li>The quality above is what exactly is missing among most Chinese companies these days, in our opinion;</li>
<li>Nonetheless, we managed to land on three businesses that share such a rare characteristic.</li>
</ul>


Warren Buffett's dream business, well exemplified by Berkshire's See's Candies, is the one that can deliver a sizable increase in earnings power through minimal capital reinvested;
The quality above is what exactly is missing among most Chinese companies these days, in our opinion;
Nonetheless, we managed to land on three businesses that share such a rare characteristic.


Three Chinese Stocks that Meet Warren Buffett's Definition Of "Dream Business"

Hong Kong

Perfect Medical Health Management is an investment holding company primarily engaged in providing medical health and medical beauty services. The company offers a comprehensive range of non-invasive medical and aesthetic services, including personalized medical aesthetic solutions, hair growth treatments, pain management, preventive care, and reproductive medical services. It operates across Hong Kong, Macau, Mainland China, Australia, and Singapore. The company was incorporated on March 11, 2011, and is headquartered in Hong Kong.

Perfect Medical Health Management (1830 HK)

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Perfect Medical Health Management (1830 HK)

Screening the Silk Road: Q1 2021 All Cap Screening - Free Cashflow (FCF)

With the value/growth investment style ratio at 20-year lows, we present 27 names which hold characteristics worthy of further review.

David Lepper

Foundation Healthcare Pre-IPO: Leadership Amid Favorable Market Dynamics to Drive Sustainable Growth

Foundation Healthcare, Singapore’s largest private multi-specialty healthcare network, has filed for IPO. The IPO will consist of fresh issue as...

Tina Banerjee

How Chinese Founders Pay Themselves

Take a look at how Chinese founders and business owners pay themselves and gauge the soundness of corporate governance among founder-operated and...

Urbem Capital

A Look at Hong Kong's Beaten-Down Beauty Service Stocks

The Hong Kong beauty service industry is among the hardest-hit throughout the pandemic. We recommend focusing solely on the highest-quality and...

Urbem Capital

Three Chinese Stocks that Meet Warren Buffett's Definition Of "Dream Business"

We have developed two primary metrics to gauge the "dream business" quality of business: i.e., the return on retained earnings and the incremental...

Urbem Capital

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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