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USFunds

Arriving Upon an Opportunity in Thailand

706 views 1 year ago
Finding great companies in emerging markets doesn't require a 30-hour flight. Take a 2-minute journey with one portfolio manager who discovered one promising investment as soon as he stepped onto the tarmac and walked the streets of Bangkok.

Transcript:
Michael Ding Interview Transcript

04/18/2013


I'm Michael Ding and I am the portfolio manager of the China Region Fund.

I went to Bangkok, Thailand for the CLSA Asean Forum to investigate in business opportunities.

I went there a day earlier. I just wanted to walk through the city to see how people look, see how businesses look.

The first impression you can see is when you go to the airport; that is one of the business investment opportunities that we identified from this trip.

The airport is busy and that's the only airport, international airport, in Thailand- and that receives millions of people every year.

Every foreigner will pay a twenty five U.S. dollar airport fee. No wonder 20 percent of the GDP is generated from the tourism business. So you can see that it is very stable. The price has been very stable, and is going up.

Today you almost don't see any motorcycles; it's cars, it's Toyota. 80 percent of the cars on the street are made in Japan. Japanese invest in Thailand, they make in Thailand and they have a plan to make further investments to make Thailand a manufacturing hub. So they are making in Thailand, and then sell outside of Thailand.

This is one of the drivers of the economy. The country is stable. You go on the street and you see the harmony of the society. You see that people are happy, people are working, and people are busy. In the culture everybody is busy. So really you can see that this is tacit knowledge.

When you go there, you take a look and then you really believe it. You see the flow; people coming from all over the world, to the airport and going through it. You see the volume of the flow, and you see the volume of the money flow into the companies. Then you realize this is really, really a good investment idea this is not for one, two, three years; this is for a long, long time to go. Show less
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