Bamboo Innovator Daily Insight: 24 Mar (Tues) – The World Loses A Wise Voice During Troubled Time; Lee Kuan Yew made Singapore an economic powerhouse, demonstrating that the key is creating an environment in which human ingenuity can thrive

Notice: The website AsianExtractor: Unearthing Accounting Fraud in Asia (www.AsianExtractor.com) is down on technical issues and we are trying to resolve the problem asap.

Remembering Lee Kuan Yew

  • The World Loses A Wise Voice During Troubled Time; Lee Kuan Yew made Singapore an economic powerhouse, demonstrating that the key is creating an environment in which human ingenuity can thrive: Forbes
  • Henry A. Kissinger: The world will miss Lee Kuan Yew: WaPo
  • Can-Do Lee Kuan Yew: NYT
  • What Would Lee Kuan Yew Do?: NYT
  • Singapore’s Evolution: Lee Kuan Yew astutely evaluated any political or economic dogma that ran counter to his goals. WSJ
  • Lee Kuan Yew and Tongil rice; ‘When the farmers are full, that’s the end of Communist revolution.’ – Lee Kuan Yew: JA
  • The city state of Singapore braces itself for challenges to come; Political rumblings in Singapore can be heard, writes Kishore Mahbubani: FT
  • In China and West, contrasting views on legacy of Singapore’s patriarch: WaPo
  • Lee Kuan Yew’s Mixed Legacy in Singapore: NYT
  • China’s Love of Lee’s ‘Singapore Model’ Ran Deep for Decades : Bloomberg

Life

  • 17 of our favorite Steve Jobs quotes from the new book about his life: BI
  • The CEO of Popeyes says becoming a ‘servant leader’ helped her turn around the struggling restaurant chain: BI
  • People are turning to education for entertainment, whether from online lectures, learning vacations or television, for the love of learning new things and to stay economically viable.: NYT
  • 6 Leadership Failures That Put Your Company at Competitive Risk: Forbes
  • How Atari’s Nolan Bushnell turned down Steve Jobs’ offer of a third of Apple at $50,000: TheAge
  • A Manifesto for Makers: The maker ethos is not unlike that of the athlete and can be found in faraway Russia or the local Maker Faire, says veteran engineer Lee Felsenstein.: EE
  • The top 10 words of TED2015: TED
  • University reforms will lead to new beatnik generation as students shun the hard degrees: Mark Carnegie: BRW
  • Warren Buffett: Berkshire’s success has almost everything to do with being based in the US: BI
  • The best lessons from ‘Art of War,’ a book Evan Spiegel bought Snapchat employees when he felt threatened by Facebook: BI
  • Billionaire designer Tory Burch shares the best advice she ever got: BI
  • 10 Principles of Organization Design: These fundamental guidelines, drawn from experience, can help you reshape your organization to fit your business strategy.: Strategy&

Books 

  • Do the KIND Thing: Think Boundlessly, Work Purposefully, Live Passionately: Amazon, FT
  • Reading List of Keith Rabois: Medium
  • Review: ‘The Second Curve’ by Charles Handy: FT

Investing Process

  • Open Letter to SGX/MAS: Reply to CFO of SGX-Listed China Environment (CENV SP) on report “Potential Accounting Tunneling Fraud at China Environment?” – Address the accounting and governance concerns in an SGX/MAS announcement: AsianExtractor
  • Iceberg: ‘Not the first time we acted as whistleblower against Noble’; “Had the MPA acted on the information sent to them, this high-profile bankruptcy OW Bunker… could certainly have been avoided.”; “Iceberg’s research is based on public information released by Noble themselves. We consulted our lawyer and we are extremely confident.”: BT

Greater China

  • Open Letter to SGX/MAS: Reply to CFO of SGX-Listed China Environment (CENV SP) on report “Potential Accounting Tunneling Fraud at China Environment?” – Address the accounting and governance concerns in an SGX/MAS announcement: AsianExtractor
  • China’s Kaisa will die soon if creditors “do not cooperate,” Sunac warns: SCMP
  • Offshore yuan bond yields hit record high as China default risk weighs: SCMP
  • Citic’s Trapped Value Proves Hard to Unleash; Citic might seem like a bargain. But the value in China’s largest conglomerate is trapped in a complex web. WSJ
  • Citic Ltd confirms $2.5bn hit from Australian iron ore venture: FT
  • China’s Internet Boom Starts to Fade; Half of the 14 Chinese dot-coms that debuted in the U.S. last year are now trading below their initial sale prices. : Bloomberg
  • China University Deal Spree Exposes Zhao as Chip Billionaire: Bloomberg
  • Hong Kong regulator feels heat over decision on dual-class shares: FT
  • Lessons from the crisis: Will China open the broking floodgates to banks?: SCMP
  • China’s Amazon? Tencent and Shanda to merge online publishing and eBook services: SCMP
  • Video site Le Shi to grab in-car screens in partnership with Chinese carmarker: SCMP

India

  • Pride, patriotism and the baffling politics of Indian place names; It is surely a sign of insecurity to dictate how a word is spoken by people in their own language: FT

Japan & Korea

  • Heads of big Korean companies continue stepping down: Maeil
  • AmorePacific chief dreams big for beauty empire: KH
  • Who are the oldest superrich in Korea?: KH
  • Yamaha’s third attempt at cars will be worth the detour: FT

ASEAN

  • Open Letter to SGX/MAS: Reply to CFO of SGX-Listed China Environment (CENV SP) on report “Potential Accounting Tunneling Fraud at China Environment?” – Address the accounting and governance concerns in an SGX/MAS announcement: AsianExtractor
  • Singapore is stepping in to help in the widening controversy over 1MDB, Malaysia’s heavily indebted development fund, as the city-state’s regulator adds its muscle to the high-profile probe into the entity: FT
  • Indonesia to withdraw local language plan for foreign workers: Reuters

Macro

  • For Money Managers, a Daily Search for Trouble; With the collapses of 2000 and 2008 fresh in their minds, stock pickers scour markets for signs of problems: WSJ
  • Moody’s warns on EM dollar finance costs; Emerging markets countries that took advantage of low cost dollar finance to expand their pools of external debt are facing intense pressure, according to Moody’s.: FT
  • Six Degrees of Separation Explain the Global Trade Pain to HSBC: Bloomberg
  • Pension Funds Seek Shelter From Dollar’s Rise; Overseas Investments Lead Funds to Get Protection: WSJ
  • “Record Corporate Cash And Profitability” Are Lies: Here Is The Truth: Zerohedge
  • Illiquid Corporate Bond Market Will End In “Very Unpleasant Fashion”: Zerohedge
  • 7 Ways Private Equity Is Gaming Your Pension: Bloomberg
  • European Banks Seen Offloading $109 Billion of Bad Debt in 2015: Bloomberg

Energy & Commodities

  • Shipowners must consolidate to survive downturn, says Wilbur Ross: FT

TMT

  • How ‘Unicorns’ Became Silicon Valley Companies: WSJ
  • Clash of Clans maker Supercell triples sales: FT
  • Silicon Valley’s bubble is about to burst, says Sequoia’s Moritz: Fortune
  • Scientists have learned how to construct materials that bend waves of light, sound and seismic energy, and are working on applications that may transform industries.: NYT
  • Online ad revenue at risk in war on ‘click fraud’: Reuters
  • Zulily Nips Business Model in the Bud; ‘Flash sale’ retailer concedes need to keep inventory on hand to speed up shipment: WSJ
  • Tech Startup Bubble Has America’s Retirement Funds Chasing Unicorns: Zerohedge
  • IBM to share technology with China in strategy shift: CEO: Reuters
  • Analyst Predicts Apple Will Hit a $1 Trillion Market Cap: Bloomberg

Healthcare

  • Faster FDA Spurs Cancer Breakthroughs: Bloomberg
  • Health Care Systems Try to Cut Costs by Aiding the Poor and Troubled: NYT
  • Nearly 75% Of Biotechs Have No Earnings: Zerohedge
  • Biotech Behemoth Gilead In Trouble After Flagship Drug Related Death; Gilead Warns After Hepatitis Patient on Heart Drug Dies: Zerohedge, Bloomberg
  • Drug-resistant TB threatens to kill 75 million people by 2050, cost $16.7 trillion: Reuters

Consumer & Others

  • Tesco potentially faces a huge lawsuit over ‘permanent destruction of value to shareholders’: BI
  • Propercorn: founders’ hunch about a healthy munch: FT
  • With New Nonstick Coating, the Wait, and Waste, Is Over: NYT
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About bambooinnovator
KB Kee is the Managing Editor of the Moat Report Asia (www.moatreport.com), a research service focused exclusively on highlighting undervalued wide-moat businesses in Asia; subscribers from North America, Europe, the Oceania and Asia include professional value investors with over $20 billion in asset under management in equities, some of the world’s biggest secretive global hedge fund giants, and savvy private individual investors who are lifelong learners in the art of value investing. KB has been rooted in the principles of value investing for over a decade as an analyst in Asian capital markets. He was head of research and fund manager at a Singapore-based value investment firm. As a member of the investment committee, he helped the firm’s Asia-focused equity funds significantly outperform the benchmark index. He was previously the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. KB has trained CEOs, entrepreneurs, CFOs, management executives in business strategy, value investing, macroeconomic and industry trends, and detecting accounting frauds in Singapore, HK and China. KB was a faculty (accounting) at SMU teaching accounting courses. KB is currently the Chief Investment Officer at an ASX-listed investment holdings company since September 2015, helping to manage the listed Asian equities investments in the Hidden Champions Fund. Disclaimer: This article is for discussion purposes only and does not constitute an offer, recommendation or solicitation to buy or sell any investments, securities, futures or options. All articles in the website reflect the personal opinions of the writer.

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