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

MacroAsia (MAC PM) - Company Visit Highlights Short-Term Headwinds but Core Business on Solid Ground

DEEP DIVE: Still Opportunity After the Re-Rating

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

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<p>Although associate income from LTP was flat YoY for the half, we are encouraged by increased utilisation of existing hanger assets, moving from 1.5 to 2 shifts/day, and the transition toward Line Maintenance which at 60% of revenue drove core EBIT margins to 28%, up 3% QoQ.</p>
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<p>Though currently only a small contributor to operating profits, ground handling (MASCORP) and airline catering businesses (MACS) have continued to post strong operating results and revenue growth. We see that FY18-19 is a…</p>
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Although associate income from LTP was flat YoY for the half, we are encouraged by increased utilisation of existing hanger assets, moving from 1.5 to 2 shifts/day, and the transition toward Line Maintenance which at 60% of revenue drove core EBIT margins to 28%, up 3% QoQ.


Though currently only a small contributor to operating profits, ground handling (MASCORP) and airline catering businesses (MACS) have continued to post strong operating results and revenue growth. We see that FY18-19 is a…



MacroAsia - Some Green Shoots Amongst the Complex 2Q18 Results

MacroAsia Corp

MacroAsia - Some Green Shoots Amongst the Complex 2Q18 Results