What is Forensic Asia
Forensic Asia is a Hong Kong based independent research firm regulated by the Securities and Futures Commission. We aim to publish the uncomfortable truths that are uncovered from in-depth balance sheet analysis, highlighting companies under-or overstating profits relative to cash flow. We combine our extensive Asian experience with an Austrian economic perspective to provide research focused on generating absolute returns for our clients. We are 100%-owned by Dr Jim Walker of Asianomics (www.asianom.com).
Who we are and what we do
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Latest Featured Research
Mengniu Dairy (Buy): Chinese company, European quality
By Andrew Haskins 24 May 2013
Mengniu Dairy already boasts strong finances, efficient operations and high returns. Alliances with two top European food groups, Danone and Arla, now give it a golden opportunity to become the first Chinese food supplier with European quality standards. Greater trust in the company will help it regain market share and so fully exploit the Chinese...
India’s IFRS bombshell
By Cyrus Mewawalla 22 May 2013
Indian companies publish financial statements in a language that is foreign to overseas investors. The risk of being materially misinformed when investing in India is therefore high. Only three major world economies have yet to shift to International Financial Reporting Standards (IFRS). They are the US, Japan and India. In this report, Cyrus Mewawalla details...
China Foods: Superficial
By Andrew Haskins 16 May 2013
China Foods (506 HK) has refused to meet us on the grounds it is already well-covered. It isn’t. This is a bizarre attitude from a company supposedly committed to strong investor relations whose share price has dropped by 44% in six months following a profits warning. China Foods’ refusal is especially surprising considering that two...
Standard Chartered plc – Blocking & Tackling
By Tom Monaco 16 May 2013
In a recent note by Muddy Waters, Carson Block suggested that he was buying protection at 85 bps due to deteriorating credit quality, and the complete misunderstanding that the market has with respect to what Standard Chartered (STAN. LN, Not Rated) is putting in the loan portfolio. Mr. Block even pointed to two questionable credits...
Japan Securities Finance (Buy): Spread Zeppelin
By Jonathan Pool 14 May 2013
Japan Securities Finance (JSF, 8511 JP) is a boring beta stock and our guest writer, Jonathan Pool, likes it. JSF is a major provider of loans and stock loans to retail brokers and investors. It is a beneficiary of both rising markets but also recent regulatory changes to margin requirements. It has a relatively good...