10% per annum thesis:
Riverstone Holdings is a solid fast grower with moat particularly in gloves used in cleanroom environment which commands higher margins.
Introduction:
Riverstone Holdings is primarily a nitrile glove manufacturer that sells its gloves around the world. Gloves sold cater to 2 main segments - cleanroom environment and healthcare.
Considerations:
1) Governance and Management
Founder, CEO, and Executive Chairman Wong Teek Son also doubles up as the largest shareholder with 50.75% of total shareholdings. Co-founder and COO Lee Wai Keong is another who eats his own cooking, holding 11.66% ownership. Given that the lion's share of ownership is in the hands of management, we have definite management-shareholder alignment.
It is also worth highlighting that Riverstone's board consist of 3/6 of the directors as ...
...
