Shan Kamahl Mohammad, Chief Executive Officer, VCAP Asset Managers Sdn Bhd (VCAM), is a solution provider at the marcus evans Elite Summit 2015, discusses investment opportunities in South East Asia. Interview with: Shan Kamahl Mohammad, Chief Executive Officer, VCAM

1. Interview with: Shan Kamahl
Mohammad, Chief Executive Officer,
VCAM
“This is the right time for investors to
enter the South East Asian market. It is
critical for family offices to choose the
right fund manager that is capable of
picking the right companies to add to
their portfolio,” advises Shan Kamahl
Mohammad, Chief Executive Officer,
VCAM.
VCAM is a solution provider at the
marcus evans Elite Summit 2015, in
Montreux, Switzerland, 9 - 11
November.
Why is now the right time to invest
in South East Asia?
Most of the currencies in the ASEAN
(Association of South East Asian
Nations) countries, have recently
depreciated vis-à-vis the developed
market currencies, so it is a good time
for dollar, sterling or euro investors to
invest in the ASEAN region. The
significant depreciation of currencies in
the region should not affect new
investors as certain companies are still
doing well from a profit margin and
return on investment perspective.
Investors’ entry level into the region is
about 10 to 15 percent cheaper
compared to eight months ago, so if a
family office has dollars or euros, they
should be able to get a good “bang for
their buck” if they invest soon. Family
offices that have a three to five year
investment horizon when investing in
ASEAN should make strong returns on
their portfolios and on the currency
exchange as well.
Why should fund managers
use Environmental, Social and
Governance (ESG) strategies in this
region?
Globally, there is about 21 trillion US
dollars of funds that are managed in a
sustainable manner, of which a large
chunk resides in developed countries.
We believe that the investment strategy
within Asia is still very much lacking the
knowledge on ESG strategies. Investing
in a sustainable manner is what
investors are looking for; they currently
lack the avenues to invest in that
manner in ASEAN. VCAM’s ESG
wholesale fund offering is a good
starting point to participate in the
Malaysian market.
What sectors would you point
family offices to in Malaysia?
Currently, amongst others, the banking
sector is attractive. Most of the banks
are trading between 1.3 to 0.8 times
price-to-book ratio. Also plantation
companies in Malaysia are doing quite
well, although some of them might not
make the cut from an ESG perspective.
Valuation wise many plantation
companies make profit margins
anywhere between 20 to 40 percent.
Most property companies within
Malaysia are trading below book and
also have reasonably good ESG scores.
If investors are able to pick the best of
class within each of these sectors and
other sectors there is a good chance
that they will make money over the
medium term.
What risk management techniques
would you suggest to family offices
interested in this region?
The primary risk management technique
for a family office that is considering
entering Malaysia or the region is to
pick the right fund manager that knows
how to provide good returns while
assessing the downside risks to their
portfolio.
Fund managers must invest in a prudent
manner and invest in companies that
have long term capabilities in regards to
providing cash flow and eventually the
capability to create value. The fund
managers should grow investments at a
reasonable rate to ensure that wealth is
protected and grown sustainably for
their clients.
Investors’
entry level
into the region
is about
10 to 15
percent
cheaper
compared to
eight months
ago
The Time to Invest in
South East Asia is Now

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About VCAM
VCAM is a full-fledged asset management company licensed by the Securities Commission of Malaysia. VCAM’s investment
philosophy is to provide long-term value-added returns to its investors via a rigorous and disciplined investment process through
fundamentally driven value investing methods. VCAM currently manages around USD1 billion worth of funds in listed equities, fixed
income and cash equivalents via direct mandates and wholesale fund structures.
www.vcam.com.my
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To view the web version of this interview, please click here: www.elitesummit.com/ShanKamahlMohammad