Asia Economist and CEO, Centennial Asia Advisors

Manu Bhaskaran

Asia Economist and CEO

Centennial Asia Advisors

At Centennial Asia Advisors, we tell it like it is. We have no vested interests, no need for a China wall, and no reason to skew our outlook any other way. With over 30 years experience covering Asia’s political economy, you can be sure our conclusions and analyses are based on the unadulterated facts. Through years of fine-tuning our research methodologies, we deliver a quality of macroeconomic analysis few other houses can match.

Centennial Asia Advisors is an independent research and advisory firm that works with governments, multilateral institutions, financial firms and leading MNCs.

Economic Policy and Strategic Advisors

Thematic (Sector/Industry)

<ul><li>Cyclical economic growth has been on an even keel, bolstered by concerted fiscal efforts and monetary easing. This could coincide with a global upswing to produce an upside growth surprise in an economy that has been stabilising well.</li><li>In the medium term, financial risks could come to the fore, especially as investment levels continue to decline while credit growth remains unabated. The reluctance to decouple from an ambitious growth target could exacerbate existing imbalances in asset markets. Reforms are only likely to occur when China’s back is against the wall.</li><li>In the long run, the closed nature of China’s economy means that innovation and creativity are likely stifled. Furthermore, capital controls discourage foreign firms from entering the Chinese market and prevent potentially beneficial technology transfers.</li></ul>

Cyclical economic growth has been on an even keel, bolstered by concerted fiscal efforts and monetary easing. This could coincide with a global upswing to produce an upside growth surprise in an economy that has been stabilising well.In the medium term, financial risks could come to the fore, especially as investment levels continue to decline while credit growth remains unabated. The reluctance to decouple from an ambitious growth target could exacerbate existing imbalances in asset markets. Reforms are only likely to occur when China’s back is against the wall.In the long run, the closed nature of China’s economy means that innovation and creativity are likely stifled. Furthermore, capital controls discourage foreign firms from entering the Chinese market and prevent potentially beneficial technology transfers.

China Research Trip: Short-Term Stabilisation Contrasted Against Longer-Term Worries

Founder, Supreme Peoples Court Monitor

Susan Finder

Founder

Supreme Peoples Court Monitor

<p>As you likely don't know, the Supreme People's Court (SPC), China's highest court, has hundreds of judges, who generally hear cases only in their specialized areas.  One of those specialized areas is civil cases involving foreign (and Hong Kong, Macau, and Taiwanese) parties.  Judge Zhang Yongjian, head of the division in charge of cross-border cases was interviewed by Chinese media on 9 March, during the National People's Congress session and revealed some otherwise unavailable information.</p><ul><li>The…</li></ul>

As you likely don't know, the Supreme People's Court (SPC), China's highest court, has hundreds of judges, who generally hear cases only in their specialized areas.  One of those specialized areas is civil cases involving foreign (and Hong Kong, Macau, and Taiwanese) parties.  Judge Zhang Yongjian, head of the division in charge of cross-border cases was interviewed by Chinese media on 9 March, during the National People's Congress session and revealed some otherwise unavailable information.The…

2016 Disputes Involving Foreigners in the Chinese Courts

Bespoke Research on China and neighbouring regions, Bixmoor

Bixmoor

Bespoke Research on China and neighbouring regions

Bixmoor specialises in providing bespoke research to business, governments and the financial community on China and neighbouring regions. We seek to build long-term relationships with our clients, based on our expertise, our reliability and our determination to find the right solution.

<p>China's aggressive attitude towards South Korea over the latter's deployment of an advanced American anti-ballistic missile system to protect itself from its northern neighbor could turn out to be counter-productive.</p>

China's aggressive attitude towards South Korea over the latter's deployment of an advanced American anti-ballistic missile system to protect itself from its northern neighbor could turn out to be counter-productive.

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

<h2>Headlines­</h2><ul>
<li>In 2016, off-trade sales of bottled water increase by 8% in volume terms and 11% in current value terms, to reach 42.1 billion litres and CNY137.9 billion, respectively</li>
<li>Retail channel development drives volume and value sales growth</li>
<li>Current value sales of bottled water increase by 6% on-trade in 2016 compared with 11% off-trade</li>
<li>Shenzhen C’est Bon Food &amp; Beverage Co Ltd replaces Nongfu Spring Co Ltd and ranks as number one player in bottled water in 2016 with an off-trade value share of 9%</li>
<li>…</li>
</ul>

Headlines­
In 2016, off-trade sales of bottled water increase by 8% in volume terms and 11% in current value terms, to reach 42.1 billion litres and CNY137.9 billion, respectively
Retail channel development drives volume and value sales growth
Current value sales of bottled water increase by 6% on-trade in 2016 compared with 11% off-trade
Shenzhen C’est Bon Food &amp; Beverage Co Ltd replaces Nongfu Spring Co Ltd and ranks as number one player in bottled water in 2016 with an off-trade value share of 9%
…


Investing in high growth Asian frontier economies., Asia Frontier Capital

Scott Osheroff

Investing in high growth Asian frontier economies.

Asia Frontier Capital

Asia Frontier Capital Ltd. is a pioneering fund management company based in Hong Kong that specializes in investing in high growth Asian frontier economies by managing the AFC Asia Frontier Fund , AFC Iraq Fund and the AFC Vietnam Fund.

The AFC Asia Frontier Fund invests in public equities of Asian frontier countries that are seeing increasing consumption due to favorable demographic trends, rising incomes and high GDP growth. The fund invests in listed equities of companies that have their principal business activities in Bangladesh, Bhutan, Cambodia, Iraq, Laos, Maldives, Mongolia, Myanmar (Burma), Nepal, Pakistan, Papua New Guinea, Sri Lanka and Vietnam. The AFC Asia Frontier Fund is positioned to take advantage of the continuing economic shifts in these countries and offers high returns combined with significant diversification opportunities. This fund is directed by the founder and CEO of Asia Frontier Capital, Thomas Hugger, who has been investing in frontier markets across Asia and Africa for more than 20 years.

The AFC Iraq Fund was launched on the 26th June 2015 and aims to achieve long-term capital appreciation for investors by capturing value and growth potential in the post conflict high-growth & resource rich Iraq market. The fund emphasises long term investment horizon to truly capture the opportunity in Iraq. The fund's investable universe consists of locally listed companies that have their principal business activities in Iraq as well as foreign listed companies that have the majority of the business in Iraq as a whole including the prosperous Kurdish Region of Iraq (KRI). The AFC Iraq Fund offers access to investments in post conflict recovery potential of Iraq, including the KRI, and/or stability in its territory. The AFC Iraq Fund is managed by Asia Frontier Capital (Iraq) Limited, Cayman Islands under the executive leadership team of Thomas Hugger (CEO & Fund Manager) and Ahmed Tabaqchali (CIO) who have more than 47 years of investment experience as well as an extensive background covering global, emerging, frontier and MENA markets.

The AFC Vietnam Fund invests exclusively in listed Vietnamese equities to capture value in growth companies with a focus on the small to medium size companies. This market segment offers a unique investment opportunity as the valuation gap between large- and small-cap stocks in Vietnam is presently much wider than in comparable neighboring markets and the valuations are significantly depressed versus their regional peers. The fund adopts a fundamental-quantitative approach and employs an in-house earnings model to identify attractive companies where we see high growth opportunities. In conjunction with targeting the maximum upside potential the portfolio has been structured to mitigate corporate government and liquidity risks. The fund invests in a diversified portfolio of 70-90 attractively valued companies to carefully control concentration risk.  This approach allows the fund to sell, or buy, positions without having a significant market impact. The fund is directed under the executive leadership of Thomas Hugger and Andreas Vogelsanger who have more than 50 years combined experience managing investments in frontier markets, Asia and around the world.

For more information about the fund, management team and investment strategy please contact us at info@asiafrontiercapital.com.

<p><em>In line with our process of being on the ground in the countries we invest in, Scott Osheroff, Analyst at Asia Frontier Capital, traveled to Laos to visit portfolio companies and other companies on our shortlist. The photos in this article are all by AFC.</em></p>

In line with our process of being on the ground in the countries we invest in, Scott Osheroff, Analyst at Asia Frontier Capital, traveled to Laos to visit portfolio companies and other companies on our shortlist. The photos in this article are all by AFC.

Asia Frontier Capital Travel Report: Laos

China

iShares China Large-Cap ETF is an exchange-traded fund incorporated in the USA. The ETF tracks the FTSE China 50 Index, investing in large cap stocks. Its investments are focused in the financial, oil and gas, technology and communications sectors. The ETF uses a representative sampling indexing strategy, investing at least 90% of its assets in the securities of the underlying index.

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iShares China Large-Cap (FXI) (FXI US)

China Research Trip: Short-Term Stabilisation Contrasted Against Longer-Term Worries

Cyclical economic growth has been on an even keel, bolstered by concerted fiscal efforts and monetary easing. This could coincide with a global...

Manu Bhaskaran

2016 Disputes Involving Foreigners in the Chinese Courts

As you likely don't know, the Supreme People's Court (SPC), China's highest court, has hundreds of judges, who generally hear cases only in their...

Susan Finder

South Korea's Shrill Neighbor

China's aggressive attitude towards South Korea over the latter's deployment of an advanced American anti-ballistic missile system to protect...

Bixmoor

Sector Capsule: Bottled Water in China

Headlines In 2016, off-trade sales of bottled water increase by 8% in volume terms and 11% in current value terms, to reach 42.1 billion litres...

Euromonitor International Ltd.

Asia Frontier Capital Travel Report: Laos

In line with our process of being on the ground in the countries we invest in, Scott Osheroff, Analyst at Asia Frontier Capital, traveled to Laos...

Asia Frontier Capital

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

China Research Trip: Short-Term Stabilisation Contrasted Against Longer-Term Worries

Cyclical economic growth has been on an even keel, bolstered by concerted fiscal efforts and monetary easing. This could coincide with a global...

Manu Bhaskaran

2016 Disputes Involving Foreigners in the Chinese Courts

As you likely don't know, the Supreme People's Court (SPC), China's highest court, has hundreds of judges, who generally hear cases only in their...

Susan Finder

South Korea's Shrill Neighbor

China's aggressive attitude towards South Korea over the latter's deployment of an advanced American anti-ballistic missile system to protect...

Bixmoor

Sector Capsule: Bottled Water in China

Headlines­ In 2016, off-trade sales of bottled water increase by 8% in volume terms and 11% in current value terms, to reach 42.1 billion litres...

Euromonitor International Ltd.

Asia Frontier Capital Travel Report: Laos

In line with our process of being on the ground in the countries we invest in, Scott Osheroff, Analyst at Asia Frontier Capital, traveled to Laos...

Asia Frontier Capital

Headlines In 2016, off-trade sales of bottled water increase by 8% in volume terms and 11% in current value terms, to reach 42.1 billion litres...