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

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

GFPT Public Company Limited / Equity Bottom-Up

<h2><strong>Earnings weaknesses likely prolonged</strong></h2><p>A drawback in the domestic chicken price combined with a sharp rise in soy-meal and corn feedstock prices led to a 10% reduction in FY17 Cons. Earnings and 30% fall in share price from their recent October peak.</p><p>The unfavourable trading environment, made worse by sluggish domestic demand and strong THB, is likely to extend into 2018, leading to a 20% drop in FY18 consensus estimates.</p><p>Although it may seem like an enticing point of entry following the sell-off, we…</p>

Earnings weaknesses likely prolongedA drawback in the domestic chicken price combined with a sharp rise in soy-meal and corn feedstock prices led to a 10% reduction in FY17 Cons. Earnings and 30% fall in share price from their recent October peak.The unfavourable trading environment, made worse by sluggish domestic demand and strong THB, is likely to extend into 2018, leading to a 20% drop in FY18 consensus estimates.Although it may seem like an enticing point of entry following the sell-off, we…

Too Early to Bottom Feed as Chickens Fly into More Headwinds