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Bamboo Innovator Daily Insight: 11 May (Mon) – People laughed at this entrepreneur’s idea – now it’s a $500 million business, thanks to his mom’s encouraging words

Life

  • People laughed at this entrepreneur’s idea – now it’s a $500 million business, thanks to his mom: BI
  • How The HondaJet Took Flight: An Engineer’s 29-Year Obsession: Forbes
  • From New Zealand to Pittsburgh, a Moneyball Approach to Helping Troubled Kids; In a program pioneered in New Zealand and arriving soon in Allegheny County, Pennsylvania, social workers use data to figure out who’s most at risk. Bloomberg
  • How Uncertainty Fuels Anxiety: An inability to live with life’s unknowns can lead to worry and distress. Atlantic
  • Your Brain Is Primed To Reach False Conclusions: 538
  • Will White-Collar Work Get an Uber Disruption? Bloomberg
  • How To Improve Self-Esteem: A New Secret From Research: Barker
  • Celframe billionaire Arun Pudur is Asia’s wealthiest entrepreneur under 40; the software firm now produces the world’s second most popular word processor after Microsoft: AsiaOne

Investing Process

  • How ‘Active’ Is Your Fund Manager? Some fund providers, financial analysts and industry analysts fear the metric is being misused. WSJ
  • Pledging shares by promoters increases risks: BusinessStandard
  • Stock Market 101: Teaching the Wrong Lessons? WSJ
  • A Dozen Things I’ve learned from Julian Robertson about Investing: 25iq
  • The Short-Seller Edge That Hedge Funds Get From Crucial Time Lag: Bloomberg

AsianExtractor: Unearthing Accounting Fraud in Asia

  • Detecting Accounting Fraud in Asia (Part 4): Introducing Six New Measures: AsianExtractor
  • Sihuan (460 HK) Updates on Audit Delay: Improper accounting treatment in consolidation trick of using MRAs (Market Research Agents) to exclude hidden sales and distribution expenses to artificially boost profits: AsianExtractor
  • China Environment FY2014: Significant Deterioration in Receivables Collectability And No Provision for Impairment: AsianExtractor
  • China Environment (SES: 50U, Bloomberg: CENV SP): Auditor Emphasis of Matter raises more questions on potential accounting tunneling risk: AsianExtractor
  • 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
  • Does Auditor Explanatory Language in Unqualified Audit Reports Indicate Increased Financial Misstatement Risk? “Emphasis of matter” language predicts restatements + China Environment’s Auditor Emphasis of Matter: AsianExtractor

Greater China

  • From Icicles to Burger King, Sinopec’s Fu Mirrored China’s Rise: Bloomberg
  • Investors Pay a Price for Caution on China; Skittishness has kept cash out of Chinese shares, which have been on a tear: WSJ
  • Efforts to revive Dongguan factories may be too little, too late: SCMP
  • After government ban, now Guangzhou wants to copy Uber: SCMP
  •  ‘Weishang’ business model poses challenges for WeChat: WCT
  • Distance (from China) gets hearts racing for the wrong reasons; Aim has provided rich pickings for Chinese bosses with more than 80 companies listing: FT
  • China’s Cut-Rate Credit Rankings Raise Alarms as Defaults Loom: Bloomberg
  • China’s ‘ridiculous’ ID documents may get the chop: AsiaOne
  • During One Hour Every Day, China’s Stock Rally Falls Apart: Bloomberg
  • Investors Pay a Price for Caution on China; Skittishness has kept cash out of Chinese shares, which have been on a tear: WSJ
  • Efforts to revive Dongguan factories may be too little, too late: SCMP
  • Dongguan’s migrant factory workers dream of going home for same wages: SCMP

India

  • HDFC Makes to World’s Top-10 List of Consumer Finance Firms: NDTV
  • RBI chief wants PMO to act against bank frauds worth Rs 17,500 crore ($bn); The bank accounts cited by the RBI belong to Winsome Diamond, Zoom Developers, Tiwari Group, Surya Vinayak Industries, Deccan Chronicle, First Leasing, Biolor, Hindutimes
  • Late to the party, global banks try to muscle into India’s start-up boom: Reuters

Japan & Korea

  • Samsung pushes drive for management restructuring; Rumors of Samsung setting up holding firm continue to swirl: KH
  • Samsung Group struggles to find new growth engine; Korean conglomerate puts focus on M&As, converging businesses: KH
  • Sharp says may reduce capital, shares slide nearly a third; Japanese media suggested the capital reduction is aimed at easing its tax burden as the smaller capital base will allow Sharp to be classified as a SME for tax purposes: Reuters
  • Rise in one-person households in S Korea boosts pet market: AsiaOne
  • In S Korea: From shopping centres to shopping experience: AsiaOne

ASEAN

  • Indonesia’s slow-moving bureaucracy weighs on Widodo’s economic reforms: Star
  • For 1MDB, it cannot be business as usual: BT
  • Indonesia Plans to Gradually Cut Corporate Tax Rate to Below 18%: Bloomberg

Macro

  • Emerging market company debt worries Fidelity: FT
  • Top 50 US boardroom hoarders sit on $1tn in cash; Apple, Microsoft, Google, Pfizer and Cisco are sitting on $439bn of cash – accounting for more than a quarter of the total $1.73tn being held by US groups: FT
  • Bond Market Bloodbath Is in the Math; The reach for yield in longer-dated bonds puts investors in peril as the market goes into reverse: WSJ

Energy & Commodities

  • Asia Loses Its Sweet Tooth for Chocolate; Rising prices, slower growth have Asian buyers shunning cocoa: WSJ
  • America’s oil boom is sputtering back to life one rig at a time: SCMP
  • These Asian Bankers Face $43 Billion Dead Deals After Oil Plunge: Bloomberg
  • Asia Loses Its Sweet Tooth for Chocolate; Rising prices, slower growth have Asian buyers shunning cocoa: WSJ
  • America’s oil boom is sputtering back to life one rig at a time: SCMP

TMT

  •  Pocket-sized fingerprint scanner could solve healthcare bottleneck: Reuters
  •  Networks Fret as Ad Dollars Flow to Digital Media: NYT
  • ‘They’ve picked their exit brilliantly’: the Leibovich brothers and Leon Kamenev sell takeaway food ordering platform Menulog for 371 times EBIT: BRW
  • Mobile-Game Makers Try to Catch More ‘Whales’ Who Pay for Free Games; With soft sell and number-crunching, ‘Candy Crush Saga’ and ‘Kim Kardashian: Hollywood’ creators nudge you to spend $50 or $100 a month: WSJ
  • Will Smartwatches Be a Hit? Some see advantages over smartphones and tablets; others see a niche product: WSJ

Consumer & Others

  • Bottled water flies off shelves as fizzy drinks go flat; Global soft-drinks companies battle for share amid surging demand for the simplest beverage of all: FT
  • Birkenstock Doesn’t Care if Fashionistas Stop Wearing Its Sandals; German footwear firm shrugs at recent popularity with the trendy set; ‘Fashion trends tend to roll over us’: WSJ
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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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