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

SUTL: New Membership Sales Contribution Will Start to Kick In Next Two Years, Cash Is 70% of Mkt Cap

SUTL: Puteri Harbor Construction Started Last Week, Membership Sales to Follow, Cash = 84% of MktCap

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

<ul><li><a href="https://www.smartkarma.com/entities/8687" target="_blank" data-smartkarma-citation="entities:8687:1">SUTL Enterprise Ltd (SUTL SP)</a> listed in 2015 via a reverse takeover</li><li>Company controlled by SUTL Global (not listed) which is run by Tay family</li><li>SUTL is a play on growth of Asian Ultra High Net Worth (UHNW) and their desire to own luxury yachts</li><li>SUTL owns 30-yr operating rights to One 15 marina in Sentosa, Singapore</li><li>Revenues and profits are very stable as membership fees renewal rate is high</li><li>Growth will come from expansion in Asia</li><li>Market Cap is 60M SGD but EV only 17M SGD</li><li>SUTL trades at 4.8x (ex-cash) P/E and offers 2.8% dividend yield</li></ul>

SUTL Enterprise Ltd (SUTL SP) listed in 2015 via a reverse takeoverCompany controlled by SUTL Global (not listed) which is run by Tay familySUTL is a play on growth of Asian Ultra High Net Worth (UHNW) and their desire to own luxury yachtsSUTL owns 30-yr operating rights to One 15 marina in Sentosa, SingaporeRevenues and profits are very stable as membership fees renewal rate is highGrowth will come from expansion in AsiaMarket Cap is 60M SGD but EV only 17M SGDSUTL trades at 4.8x (ex-cash) P/E and offers 2.8% dividend yield

Discover Singapore: Own an Asian Luxury Marina Operator at 4.8x Ex-Cash P/E and 2.8% Dividend Yield