Stage 1 Research Papers

Stage 1 consists of two parts.

Part 1

In Chapter 20 of Benjamin Graham’s classic, “The Intelligent Investor”, he wrote “Investment is most intelligent when it is most businesslike.”

In your own words, please explain what “most businesslike” means (1000 words).

Part 2

Based on your understanding of “most businesslike”, put yourself in the shoes of the fund manager of icapital.biz Berhad (Tan Teng Boo) and

Conduct an analysis of a stock that icapital.biz Berhad currently owns and conclude whether the said stock is a Buy, Hold or Sell (3,500 words, excluding Appendices).

To submit your investment research, email to us a pdf version at bvia@icapital.biz by 17 March 2019, Sunday.

Stage 2 Presentation

Shortlisted finalists will be invited to present their research at the prestigious 2018/2019 Global Investor Week of Capital Dynamics to a panel of judges and the investing public.  The presentation will be held in Kuala Lumpur, Malaysia on 13 April 2019, Saturday.

Two-way economy air-tickets and hotel accommodation for one night will be provided for the shortlisted finalists.

To further inquiries,kindly email us at bvia@icapital.biz

WRITTEN REPORT GUIDELINES

The 2019 Budding Value Investor Award consists of two stages. The first stage will take the form of an essay and an investment research. The second stage will be a presentation based on the shortlisted candidate’s essay and investment research that was submitted in stage one. The competition will be team based, comprising of up to 3 participants in a team.

The two written research reports must comply with the following guidelines:

  1. follow the competition guidelines and stick close to the word limit of 1,000 words (Part 1) and 3,500 words (Part 2) (excluding the Appendices);
  2. write in clear, concise and easy-to-understand English, with no serious grammar and vocabulary mistakes;
  3. be consistent in formatting . Teams will be penalized for any inconsistencies in formatting. (i.e. Inconsistent use of terminologies, such as using RM1 mln and later using RM1 million, and different font types and font sizes in the analysis);
  4. do not plagiarise. Plagiarism is a serious offense. The candidate will face immediate disqualification if found plagiarising materials from www.icapital.my (icapital.biz Berhad’s website) or other sources;
  5. be properly cited using a generally accepted citation system. Generally accepted citation systems include, but are not limited to, the Chicago Manual of Style, the Harvard referencing system, and MLA (Modern Language Association) style;
  6. be typed, single-sided on A4-sized paper, left and right margins of 1.5cm and single line spacing, in Arial font size 12;
  7. be submitted in PDF format; and
  8. include personal details such as full name, university, student ID, faculty, degree major(s), identification number, year of study, mobile phone number, email address and residential  address.

The structure of the research report for Part 2, Stage 1 must include:

  1. Company Name, Stock Name, Stock Code and Share Price
  2. Company Background
  3. Business Model
  4. Industry Analysis
  5. Financial Analysis
  6. Valuation
  7. Recommendation and Reasons

Please include the following Appendices:

  1. Financial statements (All 3 financial statements with key figures like sales, operating expenses, net profit, total assets, total debt, total shareholders equity, cash flow from operation, cash flow from investments and others)
  2. Forecasts/projections;
  3. Justification for valuation method used;
  4. Calculations; (Key ratios like liquidity ratios, debt ratios, profitability ratio, DuPont analysis, cash conversion cycle days and others)
  5. Assumptions; and
  6. All sources of information and data

Submission deadline: 17 March 2019, Sunday

Email a PDF version of your submission to bvia@icapital.biz

Stage 2

Shortlisted finalists will be invited to present their research at the prestigious 2019 Global Investor Week of Capital Dynamics, to be held in Kuala Lumpur, Malaysia to a panel of judges, comprising of experienced professionals and the investing public on 13 April 2019, Saturday. Further guidelines will be communicated for shortlisted candidates.