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Noah Holdings (NOAH.K; 6686.HK) – Rising above China’s wealth management flood
China’s largest listed wealth manager is trading below net cash on a survivors’ discount while quietly compounding its offshore franchise
Apr 28
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Ep 9. Veteran EM CIO speaks of "decade-defining" Gulf crisis and impacts on EM investment flows
Listen now | Gary Dugan, CEO of the Global CIO Office, on broken benchmarks, shifting capital flows and why the future of investing lies east
Mar 24
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Pyramids and Pagodas
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Plover Bay Technologies (1523.HK) – Another strong year coupled with preparation to split in two
2025 results deliver margin expansion and another year of excess cash returns, but the real headline is its decision for a US spinoff
Mar 1
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Gas Malaysia Berhad (GASM.KL) – The pipeline titan powering Malaysia’s industry
A quiet utility patiently positions itself for market liberalization, an opportunity the market has yet to recognize
Feb 9
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Softcare Limited (2698.HK) – A formidable fortress in Africa finding its footing
Rare HK-listed frontier market pure play on consumer hygiene
Dec 19, 2025
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The Chinese Polysilicon Industry: Navigating overcapacity toward brighter horizons
Unpacking supply gluts, demand surges and Beijing’s anti-involution push
Nov 8, 2025
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Panca Budi Idaman (PBID.JK) – Bagging deep value in Indonesia’s plastic surge
Recycling Rupiah into a deep value packing leader with competitive margins and rising dividends
Oct 7, 2025
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Shandong Trip Report – Finding value amid sawdust and subsidies
From baijiu diplomacy to boardroom arbitrage, and finding a potential outperformer in China’s bloated wood panel board industry
Aug 30, 2025
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Pyramids and Pagodas
Contextualizing emerging market businesses with geopolitical and macroeconomic thematic analysis - follow us on X @Decipherintl
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