Pan-Asia Equity Bottom-up, Wickhams Hill

Lloyd Moffatt

I am a fundamental-value investment analyst with a bent for events and soft catalysts.

During my time on both the buy-side and sell-side I focussed on small and mid-cap companies in ASEAN, Australia and HK/China.

Although a generalist, my background as an engineer lends itself toward deep-dive research in more practical sectors like consumer and industrials.

Previous recommendations include:

Concepcion Industrial		(CIC PM)	BUY	03/12/2015		+100.1%
OSIM International		(OSIM SP)	BUY	11/12/2015		+36.9%
Bellamy's Australia Ltd	(BAL AU)	SELL	08/06/2016		+60%
Pryce Corp				(PPC PM)	BUY	14/07/2016		+105%
Rukun Raharja			(RAJA IJ)	BUY	16/02/2017		+61%
Asian Pay Television Trust (APTT SP)	BUY	30/12/2016		+67%

Pan-Asia Equity Bottom-up

Pryce Corp: 2Q18 Update - Another Solid Quarter, 110% Upside

Has Pryce Corp Been Impacted by Typhoon Mangkhut?

What Does the Acquisition of Liquigaz Mean for Pryce Corporation?

Pryce Corp: FY17 Profit up 29%, 8x PE and 5% Yield

Inaugural Dividend Is a Harbinger of Things to Come

3Q17 Results - Higher Growth and Looming Dividend

Research-Intensive Fundamental Value Advisor

Wickhams Hill

Wickhams Hill Capital is a research-intensive fundamental value advisor, on long and occasionally short investment opportunities concentrated in small and mid-cap public companies.

Equity Bottom-Up

Pryce Corp released their 1Q18 results on May 15th, 2018. The company reported revenue for the quarter ending March 31, 2018 of PHP 2.35bn, a 6.33% increase over 1Q17. Importantly, gross profit rose 9.21% to PHP 545.18mn while operating profit rose 9.47% to PHP 340.71mn.Volumetric profit margin is the best measure of the company’s profitability as it accounts for changes in the underlying gas price that is passed through to customers as part of their cost-plus structure. The LPG margin for 1Q18…

Pryce Corp released their 1Q18 results on May 15th, 2018. The company reported revenue for the quarter ending March 31, 2018 of PHP 2.35bn, a 6.33% increase over 1Q17. Importantly, gross profit rose 9.21% to PHP 545.18mn while operating profit rose 9.47% to PHP 340.71mn.Volumetric profit margin is the best measure of the company’s profitability as it accounts for changes in the underlying gas price that is passed through to customers as part of their cost-plus structure. The LPG margin for 1Q18…

1Q18 Update - The Next Philippine Cash Cow