Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

Empiric Student Property / Index Rebalance

<ul>
<li>In this insight, we take a look at Quiddity's final predictions for index changes for the  F100 and F250 indices for the June 2023 Rebalance.</li>
<li>The index changes are likely to be confirmed after market close today.</li>
<li>We expect one change for the F100 index and six changes for the F250 index.</li>
</ul>


In this insight, we take a look at Quiddity's final predictions for index changes for the  F100 and F250 indices for the June 2023 Rebalance.
The index changes are likely to be confirmed after market close today.
We expect one change for the F100 index and six changes for the F250 index.


Quiddity Final Thoughts for F100/​250 June 23: Multiple High-Impact Changes Likely

Equity Analyst, LightStream Research

Shifara Samsudeen, FCMA, CGMA

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Private Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/forter-inc" target="_blank" data-smartkarma-citation="entities:35955:1" rel="noopener">Forter (1397978D LN)</a> uses machine learning to detect fraud and approve online transactions in real-time.</li>
<li>With the surge in online shopping with COVID-19, the amount of online fraud increased, allowing Forter to experience strong revenue growth.</li>
<li>New product innovations and a number of strong partnerships will continue to drive the company forward.</li>
</ul>



Forter (1397978D LN) uses machine learning to detect fraud and approve online transactions in real-time.
With the surge in online shopping with COVID-19, the amount of online fraud increased, allowing Forter to experience strong revenue growth.
New product innovations and a number of strong partnerships will continue to drive the company forward.


Forter: New Products and Strong Partnerships Driving Growth for Fraud Solutions

Supun Walpola

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/zozo-inc" target="_blank" data-smartkarma-citation="entities:18379:1" rel="noopener">ZOZO Inc (3092 JP)</a>’s growth has quickly returned to its decelerating trend post-lockdowns and we believe this will become more evident from 3Q FY03/21 when the impact of the stay-at-home demand further subsides. The underlying reasons for this collapsing growth such as, the saturation of the under-25 segment, weak penetration among the middle-aged demographic, and falling average price levels, does not seem to be improving, hence, we believe ZOZO’s consignment business growth should not be much higher than the overall online fashion market growth of 5%-10% going forward.In the meantime, there is still a lot of uncertainty surrounding ZOZO’s longer-term growth drivers such as the new ZOZOSUIT 2 and the private label business which are still in their experimental phase. ZOZO is already down 20% from early October, however, we believe a further correction is required to justify ZOZO’s single-digit growth in the medium-term, until the new initiatives start making meaningful contributions to the results.

ZOZO Inc (3092 JP)’s growth has quickly returned to its decelerating trend post-lockdowns and we believe this will become more evident from 3Q FY03/21 when the impact of the stay-at-home demand further subsides. The underlying reasons for this collapsing growth such as, the saturation of the under-25 segment, weak penetration among the middle-aged demographic, and falling average price levels, does not seem to be improving, hence, we believe ZOZO’s consignment business growth should not be much higher than the overall online fashion market growth of 5%-10% going forward.In the meantime, there is still a lot of uncertainty surrounding ZOZO’s longer-term growth drivers such as the new ZOZOSUIT 2 and the private label business which are still in their experimental phase. ZOZO is already down 20% from early October, however, we believe a further correction is required to justify ZOZO’s single-digit growth in the medium-term, until the new initiatives start making meaningful contributions to the results.

2021 High Conviction: ZOZO – Good Times Are Zo Far Away

Asia Ex-J Consumer/ Transport analyst

Valerie Law, CFA

<ul>
<li>With a small market cap barely touching SGD 100m, YVEN is easy to be passed up by fund managers. However, its data-centric approach to e-commerce, its strategtic partnerships, plus upcoming ICO for its subsidiary can make for interesting catalysts. Details are discussed in a three-part series.</li>
<li>In Part 2 of this three part series, we discuss the company's growth through partnerships and M&amp;A, financials, catalysts, and risks. </li>
</ul>


With a small market cap barely touching SGD 100m, YVEN is easy to be passed up by fund managers. However, its data-centric approach to e-commerce, its strategtic partnerships, plus upcoming ICO for its subsidiary can make for interesting catalysts. Details are discussed in a three-part series.
In Part 2 of this three part series, we discuss the company's growth through partnerships and M&amp;A, financials, catalysts, and risks. 


Y Ventures: A Potential to Double (Part 2)

<ul class="">
<li>With a small market cap barely touching SGD 100m, Y Ventures Group (YVEN) might easily be overlooked by fund managers. However, its data-centric approach to e-commerce, its partnership with SingPost and a joint venture with a blockchain developer for its upcoming buyer platform, all make for interesting catalysts. Details will be discussed in a three-part series.</li>
<li>Part 1 presents some possible reasons for recent share price softness, an overview of YVEN’s business, its unique approach to e-commerce,  channel checks, and industry growth supportive for doubling its e-commerce revenues..</li>
<li>Part 2 discusses YVEN’s non-organic growth plans, financials, catalysts, valuation, and risks.</li>
<li>Part 3 discusses my views on the upcoming ICO for Luminore 8 (its subsidiary), which is the first ICO done by a listed company.</li>
</ul>


With a small market cap barely touching SGD 100m, Y Ventures Group (YVEN) might easily be overlooked by fund managers. However, its data-centric approach to e-commerce, its partnership with SingPost and a joint venture with a blockchain developer for its upcoming buyer platform, all make for interesting catalysts. Details will be discussed in a three-part series.
Part 1 presents some possible reasons for recent share price softness, an overview of YVEN’s business, its unique approach to e-commerce,  channel checks, and industry growth supportive for doubling its e-commerce revenues..
Part 2 discusses YVEN’s non-organic growth plans, financials, catalysts, valuation, and risks.
Part 3 discusses my views on the upcoming ICO for Luminore 8 (its subsidiary), which is the first ICO done by a listed company.


Y Ventures Group: A Potential to Double (Part 1)

United Kingdom

ASOS is a British online fast-fashion and cosmetic retailer, primarily aimed at young adults. The company sells over 850 brands, as well as its own range of clothing, accessories, and beauty products, shipping globally from fulfillment centers in the UK, US, and Europe. ASOS was founded in London in 2000.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

ASOS (ASC LN)

Quiddity Final Thoughts for F100/250 June 23: Multiple High-Impact Changes Likely

The F100 and F250 data cutoff has passed. The announcement of changes should come today after the London close. We see multiple high-impact...

Travis Lundy

Forter: New Products and Strong Partnerships Driving Growth for Fraud Solutions

Forter uses machine learning to detect fraud and approve online transactions in real-time. With surge in online shopping with COVID-19, the amount...

Shifara Samsudeen, FCMA, CGMA

2021 High Conviction: ZOZO – Good Times Are Zo Far Away

ZOZO is already down 20% from early October, however, we believe a further correction is required to justify ZOZO’s single-digit growth in the...

Supun Walpola

Y Ventures: A Potential to Double (Part 2)

With a small market cap barely touching SGD 100m, YVEN is easy to be passed up by fund managers. However, its data-centric approach to e-commerce,...

Valerie Law, CFA

Y Ventures Group: A Potential to Double (Part 1)

With a small market cap barely touching SGD 100m, Y Ventures Group (YVEN) might easily be overlooked by fund managers. However, its data-centric...

Valerie Law, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Quiddity Final Thoughts for F100/​250 June 23: Multiple High-Impact Changes Likely

The F100 and F250 data cutoff has passed. The announcement of changes should come today after the London close. We see multiple high-impact...

Travis Lundy

Forter: New Products and Strong Partnerships Driving Growth for Fraud Solutions

Forter uses machine learning to detect fraud and approve online transactions in real-time. With surge in online shopping with COVID-19, the amount...

Shifara Samsudeen, FCMA, CGMA

2021 High Conviction: ZOZO – Good Times Are Zo Far Away

ZOZO is already down 20% from early October, however, we believe a further correction is required to justify ZOZO’s single-digit growth in the...

Supun Walpola

Y Ventures: A Potential to Double (Part 2)

With a small market cap barely touching SGD 100m, YVEN is easy to be passed up by fund managers. However, its data-centric approach to e-commerce,...

Valerie Law, CFA

Y Ventures Group: A Potential to Double (Part 1)

With a small market cap barely touching SGD 100m, Y Ventures Group (YVEN) might easily be overlooked by fund managers. However, its data-centric...

Valerie Law, CFA

Quiddity Final Thoughts for F100/250 June 23: Multiple High-Impact Changes Likely