ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/indosat-tbk-pt" target="_blank" data-smartkarma-citation="entities:5737:1" rel="noopener">Indosat (ISAT IJ)</a> remains optimistic about the outlook for its core mobile business as it expands into rural areas and simultaneously increases ARPUs, with the growing use of AI tools. </li>
<li>The company also seeks to become an AI Native Telco whilst also pursuing a separate AI business through its tie-up with <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA</a>, and building a data centre edge through BDx.</li>
<li>
<a href="https://www.smartkarma.com/entities/indosat-tbk-pt" target="_blank" data-smartkarma-citation="entities:5737:1" rel="noopener">Indosat Tbk PT (ISAT IJ)</a> is also optimistic about its home broadband business projecting 2m subscribers by 2028. Valuations remain attractive relative to peers, especially given ISAT's growth outlook. </li>
</ul>



Indosat (ISAT IJ) remains optimistic about the outlook for its core mobile business as it expands into rural areas and simultaneously increases ARPUs, with the growing use of AI tools. 
The company also seeks to become an AI Native Telco whilst also pursuing a separate AI business through its tie-up with NVIDIA, and building a data centre edge through BDx.

Indosat Tbk PT (ISAT IJ) is also optimistic about its home broadband business projecting 2m subscribers by 2028. Valuations remain attractive relative to peers, especially given ISAT's growth outlook. 


Indosat (ISAT IJ) - Streaming Ahead with AI

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

<ul>
<li>Beijing-Based 4Paradigm shares have underperformed the Hang Seng Index (+4.3%) in 2024 with shares down ~20% year-to-date. IPO investors are down ~28%.</li>
<li>I expect near-term selling pressure on the stock as IPO lockup ends in September and at least 265M shares will be available for sale by the end of next month.</li>
<li>4Paradigm has made considerable progress and with a clear profitability trajectory, the stock looks undervalued relative to peers in Mainland China and worldwide.</li>
</ul>


Beijing-Based 4Paradigm shares have underperformed the Hang Seng Index (+4.3%) in 2024 with shares down ~20% year-to-date. IPO investors are down ~28%.
I expect near-term selling pressure on the stock as IPO lockup ends in September and at least 265M shares will be available for sale by the end of next month.
4Paradigm has made considerable progress and with a clear profitability trajectory, the stock looks undervalued relative to peers in Mainland China and worldwide.


4Paradigm: Near-Term Selling Pressure May Persist As IPO Lockup Ends Next Month

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Cisco Systems, Inc. reported its financial results for the fourth quarter and fiscal year 2024, demonstrating solid performance despite a challenging macroeconomic environment.</li><li>The company closed the fiscal year with $13.6 billion in revenue for the fourth quarter and $53.8 billion for the year.</li><li>Both annualized recurring revenue and subscription revenue grew, reflecting Cisco's strategic pivot towards a more sustainable, subscription-based model.</li></ul>

Cisco Systems, Inc. reported its financial results for the fourth quarter and fiscal year 2024, demonstrating solid performance despite a challenging macroeconomic environment.The company closed the fiscal year with $13.6 billion in revenue for the fourth quarter and $53.8 billion for the year.Both annualized recurring revenue and subscription revenue grew, reflecting Cisco's strategic pivot towards a more sustainable, subscription-based model.

Cisco Systems Inc.: Networking and Security Symbiosis

Equity Long-Short, Semiconductors, Fabricated Knowledge

Douglas O'Laughlin

Equity Long-Short, Semiconductors

Fabricated Knowledge

Learn more about the world's most important manufactured product. Meaningful insight, timely analysis, and an occasional investment idea.

Thematic (Sector/Industry)

<ul>
<li>This week will be a lightning-fast one. I need to cover a lot, so I’ll give high-level summaries instead of going deep unless necessary. I will be honest - it’s a bit scuffed, but if I don’t put it out, I’ll get further behind on semiconductor earnings.</li>
<li>On semiconductor beat on Chinese industrial strength. It looks cheap.</li>
<li>Lattice is likely stuffing the channel, and the divergence between AMD’s embedded and Lattice means their channel is worse off. Amkor saw real weakness in industrial, and that’s what made the guide miss. Arista had a clean beat; I think they are sandbagging forward revenue.</li>
</ul>


This week will be a lightning-fast one. I need to cover a lot, so I’ll give high-level summaries instead of going deep unless necessary. I will be honest - it’s a bit scuffed, but if I don’t put it out, I’ll get further behind on semiconductor earnings.
On semiconductor beat on Chinese industrial strength. It looks cheap.
Lattice is likely stuffing the channel, and the divergence between AMD’s embedded and Lattice means their channel is worse off. Amkor saw real weakness in industrial, and that’s what made the guide miss. Arista had a clean beat; I think they are sandbagging forward revenue.


Earnings: ON, LSCC, RMBS, AMKR, ANET, AMD

Podcast On the Business of Semiconductors, The Circuit

The Circuit

Podcast On the Business of Semiconductors

A Podcast On the Business of Semiconductors. With Jay Goldberg and Ben Bajarin

<ul><li>Discussion about the potential for Chinese companies to use shell corporations to rent GPUs from American companies</li><li>Mention of a blog post by Sequoia and a report from Goldman Sachs on the challenges of monetizing AI infrastructure</li><li>Skepticism about the return on investment in AI due to lack of clear revenue sources and consumer use cases, particularly with companies like Microsoft and Amazon investing billions in AI projects.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Discussion about the potential for Chinese companies to use shell corporations to rent GPUs from American companiesMention of a blog post by Sequoia and a report from Goldman Sachs on the challenges of monetizing AI infrastructureSkepticism about the return on investment in AI due to lack of clear revenue sources and consumer use cases, particularly with companies like Microsoft and Amazon investing billions in AI projects.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

United States

Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use. The Company provides products for transporting data, voice, and video within buildings, across campuses, and globally.

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Cisco Systems (CSCO US)

Indosat (ISAT IJ) - Streaming Ahead with AI

Indosat remains optimistic about the outlook for its core mobile business as it expands into rural areas and simultaneously increases ARPUs, with...

Angus Mackintosh

4Paradigm: Near-Term Selling Pressure May Persist As IPO Lockup Ends Next Month

4Paradigm, a Beijing-based enterprise AI company, completed its initial public offering in 2023. Pre-IPO investors and shareholders may sell the...

Andrei Zakharov

Cisco Systems Inc.: Networking and Security Symbiosis

Cisco Systems, Inc. reported its financial results for the fourth quarter and fiscal year 2024, demonstrating solid performance despite a...

Baptista Research

Earnings: ON, LSCC, RMBS, AMKR, ANET, AMD

This week will be a lightning-fast one. I need to cover a lot, so I’ll give high-level summaries instead of going deep unless necessary. I will be...

Fabricated Knowledge

Episode 75: The AI Big $$$ Question

Skepticism about the return on investment in AI due to lack of clear revenue sources and consumer use cases, particularly with companies like...

The Circuit

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