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

Quiddity Leaderboard for Straits Times Index Mar 23: SMM Could Miss Addition

Sembcorp Marine-Keppel O&M Merger Circular Squeaks In Under The Wire - Next Steps

Sembcorp Marine (SMM SP):  Keppel O&M Takeover Completion Next Week = OOF!

SATS to Buy Worldwide Flight Services (WFS) As Private Equity Exits

SATS Agrees to Acquire WFS for an EV of S$3.1 Billion

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

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/sats-ltd" target="_blank" data-smartkarma-citation="entities:19962:1" rel="noopener">SATS (SATS SP)</a> is almost back to 2020 Covid lows after announcing the WFS acquisition.</li>
<li>Buying from PE firms is always problematic as they have already skinned the proverbial cat, in the case of WFS, it has been passed around many times since 2006.</li>
<li>At a time of rising interest rates, SATS is assuming a large pile of debt and will need to dilute shareholders significantly. Would this deal have happened under Alex?</li>
</ul>



SATS (SATS SP) is almost back to 2020 Covid lows after announcing the WFS acquisition.
Buying from PE firms is always problematic as they have already skinned the proverbial cat, in the case of WFS, it has been passed around many times since 2006.
At a time of rising interest rates, SATS is assuming a large pile of debt and will need to dilute shareholders significantly. Would this deal have happened under Alex?


SATS: If Three Different P/E Firms Can't Create Value for 8 Years, Can SATS?