Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Was on the buyside for 15 years, most recently at a medium-sized boutique asset management firm. I grew up in Europe, went to university in the US and have been living in Singapore for the last 7 years which has given me a broad scope on the world and investing in general.

Consider myself a generalist investor with a preference for small and mid-cap companies and special situations. However, a large cap that has gone temporarily out of favor might also pique my interest. 

My style of investing could be categorized as more of value investor, rather than growth at any cost. Learning from Charlie Munger on the importance of quality of a company has been of tremendous value over the years.I like businesses with real earnings, cash flows, dividends, book value and insider ownership.

Insight Provider

UG Healthcare: Weak 2Q19 Driven by One-Off Issue, If 10% NPM Achieved in FY20 Trades at 4x FY20 P/E

UG Healthcare: FY19 Results Show Revenue and Gross Margin Strength; Cost Control Now Needed

Smartkarma Corporate Webinar | UG Healthcare: Demand Visibility & Pricing Trends

UG Healthcare: Good FY18 Results; Reversion to Industry Average Margins = Potential 200%+ Upside

Discover Singapore: UG Healthcare; in Blue-Sky Scenario Trading at Only 3.8x 2020 PE

UG Healthcare - FY16 Results; Capacity Increase to Continue to Drive Growth

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

Equity Bottom-Up

<p>Yesterday I attended the AGM of <a href="https://www.smartkarma.com/entities/254" target="_blank" data-smartkarma-citation="entities:254:1">UG Healthcare (UGHC SP)</a> which was hosted at the YMCA Singapore on Orchard Road. The meeting confirmed that revenue and earnings are likely to increase in the coming quarters as the utilization of its factories improves.</p>
<p>UGHC remains extremely cheap if it can deliver industry-average margins of 10% on 100M SGD in revenues by CY2020-2021. Currently, the company has 6% net profit margins which are at a deep discount to Malaysian peers. </p>

Yesterday I attended the AGM of UG Healthcare (UGHC SP) which was hosted at the YMCA Singapore on Orchard Road. The meeting confirmed that revenue and earnings are likely to increase in the coming quarters as the utilization of its factories improves.
UGHC remains extremely cheap if it can deliver industry-average margins of 10% on 100M SGD in revenues by CY2020-2021. Currently, the company has 6% net profit margins which are at a deep discount to Malaysian peers. 

AGM UG Healthcare: Better Utilization of Factories to Drive Results Going Forward