Pyramids and Pagodas

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 • 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 • Pyramids and Pagodas

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February 2026

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 • Pyramids and Pagodas

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December 2025

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 • Pyramids and Pagodas

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November 2025

The Chinese Polysilicon Industry: Navigating overcapacity toward brighter horizons

Unpacking supply gluts, demand surges and Beijing’s anti-involution push

Nov 8, 2025 • Pyramids and Pagodas

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October 2025

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 • Pyramids and Pagodas

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August 2025

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 • Pyramids and Pagodas

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July 2025

Musings to multi-baggers and mercifully few lemons: A review of all our picks to date

An unfiltered lookback on three years of emerging market investment write-ups – hits, misses and why each piece mattered

Jul 27, 2025 • Pyramids and Pagodas

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April 2025

Hutchison Telecom (0215.HK) – Dialing up value in a discounted recovery call with decent yield

Strong cashflow, defensive yield, and organic growth initiatives position Hutchison Telecom for stable returns amid a recovering Hong Kong market

Apr 30, 2025 • Pyramids and Pagodas

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Asian defense and industrial winners in the Trump Era?

How shifting US policies could prove to be a boon for certain companies in Japan, South Korea, and Hong Kong

Apr 1, 2025 • Pyramids and Pagodas

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March 2025

Plover Bay Technologies (1523.HK) – A milestone year with strong growth and expanding opportunities

Laying the foundation for sustainable growth and rewarding patience along the way

Mar 3, 2025 • Pyramids and Pagodas

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February 2025

Time to bet the house? Macau gears up for recovery

Recovery will look different for each of the enclave's casino operators – we pick out two set to ramp up shareholder returns with high potential for…

Feb 17, 2025 • Pyramids and Pagodas

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