About GMT Research

If you have found some of the content interesting, why not subscribe to our free newsletter? Our free newsletter aims to give you a flavour of the research topics we have been working on.

GMT Research is an accounting research firm focused on Asia and regulated by Hong Kong’s Securities and Futures Commission. We develop proprietary methodologies to detect financial anomalies, or traits similar to past accounting shenanigans. We have three main product lines.

Written Research

In-depth Thematic

We will pick a specific theme, such as how to spot companies boosting profits through Acquisition Accounting, explain the accounting behind it, and then highlight companies with similar traits.

High Conviction Single Stock Ideas

We highlight individual companies where the accounting masks the economic reality, possibly through window dressing, profit manipulation or by faking sales.

Screening Tools

GMT Research has developed an Accounting & Governance (A&G) Screen which conducts a peer group comparison to highlight potential financial or accounting anomalies within a company’s financial statements. We have developed modules which alert users to whether a company has financial traits in line with past frauds or accounting shenanigans. We are able to search across markets for companies with specific financial or accounting traits.

Client Interaction

We offer a limited bespoke research product where we provide a written interpretation of the output of our Accounting & Governance Screen. We are also available for conference calls and meetings on written reports and other matters (e.g. general accounting questions). We offer crisis management on companies recently targeted by a short-seller.

How to Become a Client

If you are a professional investor* and are interested in becoming a client of GMT Research, please email us at info@gmtresearch.com. Someone will contact you shortly with subscription details. Please note that the terms of our licence prohibit us from offering our services to retail investors.

*A professional investor includes classes of persons such as intermediaries, authorised financial institutions, insurance companies and recognised exchange companies.

Who We Are

GMT Research was founded by Gillem Tulloch, an industry veteran of financial analysis and research across Asia. GMT Research is committed to delivering insightful, interesting and informative reports.

  • Gillem Tulloch
  • Lisa Mangkornkarn
  • Nigel Stevenson
  • Mark Webb