Great writeup on the potential. It's a little optimistic to say that Proton will achieve the same 20% net margin as Geely in China. Geely in China enjoys lower costs because of significantly bigger scale and also the benefits of a holistic car manufacturing ecosystem.

What I know from local parts manufacturers here is that the costs for spare parts here are in average 20% higher than in China. Many parts are also not domestically produced and have to be sourced abroad.

@Calvintan: Jtiasa is also interesting, it is more palm oil heavy, hence a palm oil play rather than timber. It would recover subject to performance of palm oil prices.

Whereas WTK is very heavy on logs/plywood, which stands to reap heavily from the spike of Japan's plywood import prices.

@Airline Bobby: If the EPS of a company spikes during a results announcement, you do not need Uncle Koon to push the stock. The market itself is sufficient to re-rate the stock, even though the momentum might not be strong enough in absence of posting/pushing from Uncle Koon himself.