Ten golden rules of investing

IT IS often tempting for companies to expand capacity or even invest in areas outside their core area of expertise. One should be very wary of such ambition, as it naturally means a reduction in focus on core capacity, let alone the implications for balance sheets. A focus on the top line tends to be great for stakeholders such as employees, suppliers andHUGH YOUNG bankers, but rarely for minority shareholders.

Hugh Young is managing director at Aberdeen Asset Management Asia.