- Maintenance CAPEX (CAPEX at the level of current depreciation) is usually steady and has been growing each year in Asia
- CAPEX for growth is the variable item that can be adjusted by management based on perceptions of economic conditions
- CAPEX for growth was flat in 2013 and dropped in both 2014 and 2015 as management pulled back on investment
Chart shows our bottom-up aggregate of Asian non-financial companies
DISCLAIMER: This content is for information purposes only. It is not intended to be investment advice. Readers should not consider statements made by the author(s) as formal recommendations and should consult their financial advisor before making any investment decisions. While the information provided is believed to be accurate, it may include errors or inaccuracies. The author(s) cannot be held liable for any actions taken as a result of reading this article.
