This post first appeared on substack. This is a short commentary about UOI and not a full review for the stock to be in the portfolio. Interested readers, please click the following newslink for context. https://sg.news.yahoo.com/minority-investor-says-uoi-over-014825695.html Activism is coming into Asia. It has already taken Japan by storm. It may take years, or even decades but it is a matter of when, not if. Why? Because tonnes of Asian stocks trade below book. In Singapore, >50% of our listed stocks trade below book. We are worse than Japan (which only has 40%). 320 out of 620 listed stocks on SGX trade below book! We have listed stocks trading at 0.03x price to book. More than one. There is Sapphire Corp, China ShenShan Orchard and Fuxing China Group. All trading at 0.03x. (See screenshot below). Take the case of Fuxing China Group trading at $3.15m (not enough to buy a 3-bedroom condo in Singapore)...