The Week That Was in ASEAN@Smarkarma - Sea Ltd & TikTok's Trouble, Astra Building EVs, and AKRA.
The Past week saw insights on Sea (SE US), Astra International (ASII IJ), AKR Corporindo (AKRA IJ), VNG (VinaGame) (VNG US) IPO, and Metro Pacific...
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Sea Ltd (SE US) - A Positive Catalyst from TikTok Shop's Trouble
Sea Ltd would be a significant beneficiary if TikTok Shop is banned in Indonesia, which looks to be the case, given it reduces competition and the...
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VNG Pre-IPO -Â Local Peers Comparison
VNG (VinaGame) (VNG US), Vietnam’s leading internet platform, aims to raise up to US$300m in its US IPO. In this note, we talk about local...
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VNG IPO: The Bear Case
The bear case rests on the Communications and Media business' faltering fundamentals, the Fintech business' uncertain path to profitability and...
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ARM Holdings IPO - Thoughts on Valuation - Still Very Demanding
Softbank Group (9984 JP) aims to raisebetween US$4.5-4.9bn via selling some of its stake in ARM Holdings' US IPO. In this note, we provide our...
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