KB Kee presented his in-depth investment thesis on Hu Lane Associate (Taiwan: 6279) at Wide-Moat Investing Summit 2015.
Hu Lane Associate is Asia ex-Japan’s largest maker of terminal connectors in automobiles and motorcycles, a mission-critical part dubbed the “nervous system” of cars whose electronic content is rising. While it is considered a Tier-2 auto parts supplier, Hu Lane directly participates in the design process of Tier-1 suppliers for most of its automotive terminal products to be “designed-in” and, as a result, enjoys sole supplier rights during the first 2-3 years following a new model launch. In addition, HL has changed its sales model in China from a distributor model to direct selling, forging Tier-1 relationships with the major Chinese automakers. It accounts for over 50% of automotive terminal connectors used by emerging electric vehicle maker BYD (1211 HK).
About the instructor:
KB Kee is the Managing Editor of The Moat Report Asia, a research service focused exclusively on highlighting undervalued wide-moat businesses in Asia. The Moat Report Asia’s paid-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 investor who are lifelong learners in the art of value investing. KB was the head of research and fund manager at a Singapore-based value investment firm since 2002. As a member of the investment committee, he helped the firm’s Asia-focused equity funds significantly outperform the benchmark index. KB was formerly the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. KB has also taught accounting at the Singapore Management University (SMU), including the pioneering course Accounting Fraud in Asia.
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