Details

<p>Disclaimer vii</p> <p>Foreword xiii</p> <p>Preface xv</p> <p>Acknowledgments xix</p> <p>About the Authors xxi</p> <p><b>Chapter 1 Value Investing in Asia 1</b></p> <p>Finding Value</p> <p>The Investor and the Market</p> <p>Why Value Investing Works</p> <p>Three Types of Value to Be Found</p> <p><b>Chapter 2 Key Developments in Asia 11</b></p> <p>What Is in Asia?</p> <p>What Has Happened in Asia?</p> <p><b>Chapter 3 Uniquely Asia 31</b></p> <p>What Asia Has Going for It</p> <p>Corporate Governance in Asia</p> <p>Shareholder Structure</p> <p>Succession</p> <p>Disclosure and Transparency</p> <p>“Smart” Money Gets Hit Too</p> <p>Government – The Elephant in the Room</p> <p>Don’t Bet Your House on Legal Prosecution</p> <p>Activism and Shorting</p> <p><b>Chapter 4 The Future of Investing in Asia 75</b></p> <p>ASEAN, Pushing Ahead</p> <p>The Wall Street of Asia</p> <p>From ‘‘Guanxi’’ to Transparency</p> <p>The Future of Healthcare</p> <p>The Asian Consumer Story Lives On</p> <p><b>Chapter 5 Using the Right Process 89</b></p> <p>Asset Value</p> <p>Current Earning Power Value</p> <p>Growth Value</p> <p>Special Situations</p> <p>Narrow Your Search – Screening</p> <p>Screen Your Screens</p> <p>The 5-Fingers Rule</p> <p>The Importance of the 5-Fingers Rule</p> <p><b>Chapter 6 Research Like a Businessman 115</b></p> <p>Getting the Right Data</p> <p>Annual Reports Are Your Best Friend</p> <p>Making Sense of an Annual Report</p> <p>Don’t Stop at One</p> <p>Why Should I Read a Competitor’s Annual Report?</p> <p>Who Do I Speak To?</p> <p>It is More Than Just the Numbers</p> <p><b>Chapter 7 Finding Red Flags 141</b></p> <p>What are Red Flags?</p> <p>Auditor’s Opinion</p> <p>Financial Red Flags</p> <p>Non-Financial Red Flags</p> <p><b>Chapter 8 Three Simple Valuation Techniques to Live By 161</b></p> <p>Price-to-Book Ratio</p> <p>Price-to-Earnings Ratio</p> <p>Discounted Cash Flow</p> <p>Always Remember Your Margin of Safety</p> <p><b>Chapter 9 How Everything Comes Together 185</b></p> <p>Value Through Assets – Hongkong Land Holdings Limited</p> <p>Current Earning Power – Tingyi (Cayman Islands) Holdings Corporation</p> <p>Growth in Cyclicality – First Resources Limited</p> <p>Special Situation – Dalian Wanda Commercial Properties Co., Limited</p> <p>High Growth – Tencent Holdings Limited</p> <p>Conclusion 221</p> <p>Interviews 225</p> <p>An Interview with Wong Kok Hoi of APS Asset Management</p> <p>An Interview with Tan Chong Koay of Pheim Asset Management</p> <p>An Interview with Wong Seak Eng, Kevin Tok and Eric Kong of Aggregate Asset Management</p> <p>An Interview with Yeo Seng Chong of Yeoman Capital Management</p> <p>An Interview with David Kuo of Motley Fool Singapore</p> <p>Index 265</p>

<p><b>STANLEY LIM PEIR SHENQ,</b> CFA, has worked in the investment industry for many years. Most recently, he was an analyst for The Motley Fool Singapore. He has written close to 2,000 investment articles online. Stanley is currently the chief editor for ValueInvestAsia.com. <p><b>CHEONG MUN HONG,</b> CFA, started his career as an investment analyst at a Singapore-licensed Trust Company. Over the course of his work, he has dealt with investments involving public and privately held entities. Mun Hong sits on the boards of listed companies.

<p>PRAISE FOR</br> <b>VALUE INVESTING</b> IN ASIA <p>"The book is a great contribution to the investing society. Stanley and Mun Hong have been able to put together the valuable experiences and wisdom of many outstanding Asian fund managers!"<br> <b> —Dr. Tan Chong Koay,</b> Executive Chairman, Pheim Asset Management Sdn Bhd <p>"This is not just a book about value investing. Instead, it is a manual for value investing with an Asian twist that investors with an eye on the fastest-growing region in the world will reach for whenever they have questions that need answers."<br> <b>—Dr. David Kuo,</b> CEO, The Motley Fool Singapore Pte. Ltd. <p>"Stanley Lim and Mun Hong have skillfully woven three things together in this book for the Asian investor: the key principles of value investing, where to identify the investment opportunities and the mine fields to side step in Asia. With these skills, the investor can start investing in Asia."<br> <b>—Wong Kok Hoi,</b> CFA, Founder & CIO, APS Asset Management Pte. Ltd. <p>"In the search for value in Asia, discipline is key. Through easy-to-understand concepts and plenty of real life case studies, Stanley and Mun Hong have concisely detailed an investing process, incorporating quantitative and also qualitative factors to aid investors in their navigation through these waters."<br> <b> —Tan Chin Hwee,</b> CFA, CA, Author of <i>Asian Financial Statement Analysis</i> <p>"Investing in Asia is never easy because it's like navigating through a jungle. Stanley and Mun Hong have penned down a road map on how you can get in and out of the jungle safely—with your treasure intact."<br> <b> —Victor Chng and Rusmin Ang,</b> Co-founders of FifthPerson.com; Authors of <i>Value Investing in Growth Companies</i>

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