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Capital Dynamics Sdn Bhd is the first independent investment adviser in Malaysia. It has been described as "one of the country's most iconoclastic and critical research outfits".

Since our inception in 1988, we have remained totally independent and have been providing objective advice on Stockmarkets and Economies through i Capital.

The i Capital newsletter is its flagship product. It has been around since 1989.

In 2002, www.icapital.biz, the online version of i Capital was launched.

In October 2005, icapital.biz Berhad, a RM140 million Close-End Fund was listed on the Main Board of Bursa Malaysia. This fund is managed by Capital Dynamics Asset Management Sdn Bhd and advised by Capital Dynamics Sdn Bhd.

In 2006, Capital Dynamics achieved a major milestone when it established Capital Dynamics (S) Pte Limited in Singapore, its platform for global investing. With this, it became the first Asian-owned fund manager to invest worldwide.

In July 2007, Capital Dynamics (S) Pte Ltd launched the i Capital Global Fund.

Capital Dynamics continues to expand with Capital Dynamics (Australia) Ltd incorporated in 2008. Also a global fund manager, it aims to provide investors with access to our proven investment success.

In July 2009, Capital Dynamics (Australia) Ltd launched the i Capital International Value Fund targeting at retail investors.

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Home > About Us > The 3 'i's > Sections A/B/C
  
A. Organisational Structure
Capital Dynamics Sdn Bhd's owner-operated structure is intentional and allows us to achieve the following important objectives:

There is no need for a "Chinese Wall".
Our income does not come from advertising, underwriting, corporate finance, loan syndications, stockbroking or other non-investment advisery work.

Brain, not brawn.
At a time when the big players are increasingly dominating the industry, Capital Dynamics believes that more and more investors are impressed by brain rather than by brawn. We rely on insight, creativity and sheer determination to succeed for our subscribers.

Continuity and Consistency.
Frequent changes of corporate ownership have led to inconsistent investment styles and a sense of insecurity among the staff. Such a lethal combination often results in poor investment performance. For i Capital, its subscribers get continuity and consistency in investment styles - key factors in investing success.

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B. Investment Philosophy
The secret to consistent success in the stock market is to have a sound intellectual framework for making investment decisions. There are 3 major elements in our clearly defined investment philosophy that forms our sound intellectual framework.

Value investing.
This is the foundation of our investment style. Our objective is to seek capital appreciation while reducing the margin of error. This is achieved with a rigorous and well-defined value investing approach. We start from a simple premise. As Benjamin Graham advised, "Investing in a stock market is most intelligent when it is most business-like".
Our stock selections are based on divergences between market prices and the underlying intrinsic values of the companies. This way, a margin of safety is built in. The vital goal is to determine the company's value and what is driving the valuation.

Top down/market timing.
Our starting point is unique. Unlike other investment advisers in Malaysia, economic analysis of both local and foreign economies is undertaken. In timing the market, Capital Dynamics analyses three fundamental drivers

Economic Growth
Inflation and Interest Rates
Corporate Earnings

Our analysis and timing of the overall equity market are based on various approaches. What makes i Capital so unique is that our market analysis extends beyond the Kuala Lumpur Stock Exchange to include the NYSE, NASDAQ, Tokyo, Hong Kong and Singapore. At another level, our very comprehensive market analysis also includes other financial markets, like bonds, commodities, etc.

Choice of country/market.
Our research and experience tells us that different countries and markets with different economic, political and corporate structures demand different investment approaches. We believe that our matching of investment approach with the country or market is highly innovative and forms part of our investing framework.
At Capital Dynamics, we study price-earnings ratio, Graham & Dodd, Wilder's RSI, IMF's economic forecasts and much more. No computers, although we use them extensively, or mechanical system or formula can replace human judgement. We believe each approach has its own strengths and weaknesses. We continuously study the various investment approaches and ask how they apply in the local context. Constant innovation and adaptation are made to suit the local environment. Therefore, as a result of our thorough research, we take an intelligently eclectic approach. This provides i Capital with an unsurpassed edge in identifying investment opportunities for its subscribers.

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C. Resources
Experienced Leadership
Our highly experienced Managing Director, Tan Teng Boo, heads our team. An economics graduate of the University of Sussex, his experience alone is equal to or more than the total experience of other investment advisers.

As a result of his fascination with investing, his working experience and academic training, he has over almost 3 decades acquired an uncanny insight into the KLSE, various foreign equity markets and the listed companies. In addition, he possesses an innate understanding of the Malaysian economy and is very well-versed with the major foreign economies. A "fanatic's" interest has enabled him to be very familiar with the different methods of investment analysis - understanding their strengths and weaknesses and the suitability of each to different investment objectives and circumstances.

As a result, he has a unique ability to blend his investing skills with his business experiences.

As Warren Buffett said, "It's been awfully good to have a foot in both camps".
Unlike other investment houses that rely on external or secondary research, we have an in-house team of professionals with a very comprehensive in-house database and library to support our research needs.

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