Bamboo Innovator Daily: 22 May (Fri) – Conquering complexity with simple rules; Want To Do Big Things? Make Yourself Small; You are not special: How to get from narcissism to thoughtfulness

Life

  • Conquering complexity with simple rules: Forbes
  • Want To Do Big Things? Make Yourself Small: Forbes
  • You are not special: How to get from narcissism to thoughtfulness: Economist
  • Melinda Gates on Bill, ending poverty, and her plans to invest in women and girls: Fortune
  • Incumbents as attackers: Brand-driven innovation: McKinsey
  • Here’s How to Make Millions as an Art Forger: Bloomberg
  • The battle of Waterloo: Appallingly bloody, yet decisive, the battle of Waterloo in June 1815 deserves the attention it is getting 200 years later: Economist
  • The pressure on companies to form alliances with rivals is growing inexorably: Economist

Books

Investing Process

  • Lixil’s overseas ambitions hit snag amid accounting probe; Grohe subsidiary Joyou was an important part of the emerging-market strategy laid out by Lixil President Yoshiaki Fujimori: Nikkei
  • Joyou AG, a Chinese affiliate of German bathroom manufacturer Grohe, has collapsed from record highs as a €400 Million company a week ago to 0, pending bankruptcy, after admitting balance sheet manipulation. Zerohedge, Reuters
  • Solar Panel Maker Suffering HK Share Sell-Off ‘Failed to Repay Loans’; Hanergy Holding Group used shares in listed unit to take out bank loans it has been unable to repay: Caixin
  • Vantage point: 8 points of view for evaluating a stock: Fundoo

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

  • Hong Kong Investors Want More Oversight After $35 Billion Wipeout: Bloomberg
  • Hanergy Plunge: The Man Who Lost $14 Billion in One Day; Li Hejun was once considered China’s richest man based on his stake in the solar company: WSJ
  • Hanergy’s Li Said He’s No Gambler, Just Weeks Before Shares Crashed: Bloomberg
  • Solar power leader HTF’s share price halved on forced liquidation: WCT
  • Hanergy Shows No Goldin Moment for Hong Kong Stocks; The share collapse of high flyers Hanergy, Goldin Financial and Goldin Properties is a reminder of the limits of passively managed money in unevenly regulated markets: WSJ
  • China’s solar-panel industry: Burned again; Shares in a high-flying firm suffer a mysterious collapse: Economist
  • Goldin’s Pan Sutong made US$22 billion this year and then lost most of it. He says he doesn’t care: TheAge
  • Shenzhen Stocks Rallying 500% Dwarf Hanergy-Goldin’s Wild Ride: Bloomberg
  • As P2P lending surges in China, so does risk of fraud: WCT
  • Wal-Mart Taking Back Some Sourcing Business From Li & Fung; Retail Sherpa Li & Fung Grapples With Client Loss; Middleman connecting retailers with factories in Asia is less essential to some in Internet age: Bloomberg, WSJ
  •  Yet Another Ghost Town in China Shows Extent of Regional Debt Crisis: Bloomberg
  • China Beverage Bottle Maker Sees Uncertainty Repaying Bond: Bloomberg
  • PBOC Rate Cuts Threaten Yuan Structured Note Market as IFC Sells: Bloomberg
  • China’s Next Hot App: Year-Old Apus Aims for 300 Million Users: Bloomberg
  • China aims to be leader in robotics: AsiaOne
  • Hangzhou shows the way to China’s new economy: Reuters
  • China’s IPO market undaunted by ghosts of dotcom boom and bust: Reuters
  • Should Taiwan Rename Itself i-Taiwan? Apple has been a boon for the island’s component suppliers but is Taiwan too reliant on the U.S. tech giant?: Barron’s
  •  Infant Medical Equipment, Landscaping Entrepreneurs Are Among China’s Newest Billionaires: Forbes
  • Fear of default mounts after Taipei Dome suspension: ChinaPost
  • The Big VIE Question; Many entrepreneurs wonder whether the time has come to undo their firms’ VIE structures. It’s a good question, but what comes next?: Caixin
  • ‘Made in China’ seeks a rebranding: WCT

India

  • Modi’s rule: India’s one-man band; The country has a golden opportunity to transform itself. Narendra Modi risks missing it: Economist
  • Searching for the next Alibaba in India: Reuters

Japan & Korea

  • Toshiba extends accounting probe to three more business units: Reuters
  • Struggling Benesse’s chief pushing move away from direct mail: Nikkei
  • Samsung: The soft succession; As he gradually takes the reins of the South Korean conglomerate, Lee Jae-yong will have an even tougher job than his father did when he took over 28 years ago: Economist

ASEAN

  • Global Funds Aren’t Buying Thai Junta’s Year of Happiness: Bloomberg
  • Why S-E Asian SMEs are low-tech: AsiaOne
  • New rules no fix for Indonesia’s dollar fixation: Reuters
  • Editorial: Jokowi’s Second Chance Starts With the KPK: JG
  • Bread Trumping Rice on Menus Sparks Indonesia Wheat-Buying Surge: Bloomberg

Macro

  • Emerging-Market Crisis Threat Does Little to Scare Bond Buyers: Bloomberg 
  • Forget Bond Rout, It’s the Current Calm That’s Killing: Ballard: Bloomberg
  • ‘Best days are behind us’: Canada’s big pension funds going after private deals in ‘scary world’: FP

TMT

  • Epidemics and artificial intelligence: Reservoir rats; AI may predict which animal species carry diseases dangerous to people: Economist
  • What’s in This Picture? AI Becomes as Smart as a Toddler: Bloomberg
  • Shopify Signals More Billion-Dollar IPOs to Canadian Tech: Bloomberg
  • Nvidia Teaches Cars to ‘See’: WSJ
  • Silicon Valley Is a Big Fat Lie: GQ
  • Technology in New Zealand: Kiwis as guinea pigs; A small, technophile country is a great place to test digital products: Economist
  • Data science is still white hot, but nothing lasts forever: Fortune
  • PayPal’s future CEO wants it to be the operating system for commerce: Fortune

Healthcare

  • Machine that ‘uncooks eggs’ used to improve cancer treatment: TheAge

Consumer & Others

  •  The Best-Selling Beer in the World Isn’t What You Think: Bloomberg
  • The war on big food; Major packaged-food companies lost $4 billion in market share alone last year, as shoppers swerved to fresh and organic alternatives. Can the supermarket giants win you back?: Fortune
  • Sipping pretty: Tequila’s global ambitions: Fortune
  • Danone’s big bet on tiny bacteria: Fortune
  • The Franchisees Are McGrumpy; In a long slump, McDonald’s needs franchisee help. Steve Easterbrook must win over McDonald’s 3,000 restaurant operators before making big changes at the chain. Economist
  • Despite the economic recession and falling purchasing power, consumers are finding ways to treat themselves, with small but premium products from overseas becoming increasingly popular.: KT
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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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