8I Holdings Limited (ASX:8IH)

[weijian]

Response to Querry by ASX  

Frankly, I really do not know what is the core value of this company despite reading their Annual report for several times. 

I went to read through the annual reports (FY15/16/17) at their website. I felt it was written with (wanting to give an impression of) "candor". Personally, i feel the comparison and usage of "Buffett stylized language" is a little too much to be desired. Things bought to an extreme, usually wouldn't have its desired outcome/usefulness.

It is interesting that 8i holdings was listed on ASX in 2014, although the main market and money-earning subsidiaries are operating in SG/Msia (and now expanded to China and other countries in the last 1.5years). I did a search and only managed to find one The Edge article interview in which they revealed that they were "being advised not to bother trying to go public in Singapore" I do take note that there is a geographical mismatch between the investment holding company and its subsequent assets - this setup is not too different from a lot of Chinese companies that list in foreign countries, but assets continued to be denominated locally - making enforcement almost impossible.

I do also take note of their investments at the end of each reporting period - which were listed down at the end of the AR reports to comply with ASX listing rules. Since the appointment of the new CIO --> there were 14 companies in AR16 (213 transactions). In AR17, it expanded to 27 companies (410 transactions), with only 6 from 2017 remained. I guess their "Hidden/Growth" Champions are pretty dynamic!

8i holdings annual reports: https://8iholdings.com/investor-relation...or-centre/

Singapore’s 8I makes waves on ASX: https://8iholdings.com/wp-content/upload...5-p.20.pdf