EM Consumer Discretionary: Turbulent Times for Alibaba
We look in to the recent collapse of Consumer Discretionary allocations among active GEM managers, and find that Alibaba is the driving force...
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Merchant Deposits and Payables to Pad Cashflows - Who's Culpable?
Merchant deposits and merchant payables have been used to pad operating cashflows (even though they are not free cashflows), particularly for fast...
396 Views
Coupang: Down 61% From the Peak, Further 60% Downside Is a Possibility
At 0.80x, Coupang’s EV/ (Gross Merchandise Value + Retail Revenue) remains 0.58x, 0.66x and 0.64x above Alibaba’s, JD.com’s and Pinduoduo’s EV/...
467 Views
Gome Retail: Time to Shop
At 1.96x price to book, Gome does not look especially cheap considering it’s current liquidity levels. However, we believe the worst has passed for...
501 Views
TDCX Inc. Pre-IPO - Largest Client Is Growing Faster and Trading Cheaper
TDCX Inc, a Singapore-headquartered digital customer experience (CX) provider, is looking to raise up to US$338m in its upcoming US IPO.
415 Views