These ASX shares are on my watchlist: TPG Telecom Ltd (ASX: TPM), ARB Corporation Limited (ASX: ARB) and Reliance Worldwide Corporation Aus P Ltd (ASX: RWC).
3 ASX shares tickling my fancy
Indeed, for one reason or another, each of these medium-sized companies finds themselves planted firmly on my watchlist.
TPG Telecom
TPG Telecom is Australia's third largest telecommunications company, behind Telstra Corporation Ltd (ASX: TLS) and Optus. The company has experienced explosive growth in the broadband and home phone market over the past 10 years. Its share price was following suit…until last year.
Nonetheless, the founder-run company is backed by some great investors who think like proper long-term business owners. It also offers a dividend and is pushing into mobiles and international markets.
ARB Corp
The bull bar and 4×4 parts business is run by the Brown family, who retain a large stake in the company. ARB is the leading bull bar company in Australia, with loads of research going into the latest vehicles to ensure the safest and strongest fit. The high quality of its Australian and Asian manufacturing sites has enabled it to take its products abroad to Europe, the Middle East and the USA.
Reliance Worldwide
Another well-run company, Reliance Worldwide, creates plumbing and water solutions. Its number-one product is SharkBite, the leading, time-saving push-fit solution for plumbers. Like ARB, the company is going international. While international expansions can be risky, Reliance appears to be made of the right stuff.
Foolish Takeaway
If you asked me to pick three of the best shares from the ASX for the next decade, chances are, TPG, ARB and Reliance would among my top 30. Of these three companies, TPG Telecom appears to be the best value at today's prices given its 52% share price fall over the past year.
