Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

Equity, Bottom-up Analyst

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<ul>
<li>We are gradually building a high-conviction coverage of ideas for the mid and small-caps in the Philippines.</li>
<li>We set criteria for high ROCE, reasonable growth (10-15% YoY), strong balance sheets, and reasonable capital allocation (dividend yields), all ingredients for being multi-baggers.</li>
<li>We also offer updates on several companies we met at the PSE conference in Manila, which took place from March 19 to 21.</li>
</ul>


We are gradually building a high-conviction coverage of ideas for the mid and small-caps in the Philippines.
We set criteria for high ROCE, reasonable growth (10-15% YoY), strong balance sheets, and reasonable capital allocation (dividend yields), all ingredients for being multi-baggers.
We also offer updates on several companies we met at the PSE conference in Manila, which took place from March 19 to 21.


Shortlist of High Conviction Philippines Equity Ideas and Updates from PSE Conference - March 2025

Philippine Stock Exchange / Equity Bottom-Up

<ul>
<li>We are gradually building a high-conviction coverage of ideas for the mid and small-caps in the Philippines.</li>
<li>We set criteria for high ROCE, reasonable growth (10-15% YoY), strong balance sheets, and reasonable capital allocation (dividend yields), all ingredients for being multi-baggers.</li>
<li>Figaro Coffee (FCG PM) has been added due to its &gt;20% ROCE, 7x PE, and strong growth potential. We will initiate coverage on it shortly with an insight.</li>
</ul>


We are gradually building a high-conviction coverage of ideas for the mid and small-caps in the Philippines.
We set criteria for high ROCE, reasonable growth (10-15% YoY), strong balance sheets, and reasonable capital allocation (dividend yields), all ingredients for being multi-baggers.
Figaro Coffee (FCG PM) has been added due to its &gt;20% ROCE, 7x PE, and strong growth potential. We will initiate coverage on it shortly with an insight.


Shortlist of High Conviction Philippines Equity Ideas - February 2025

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>The review period for the February rebalance of the <a href="https://www.smartkarma.com/entities/philippines-stock-exchange-psei-index" target="_blank" data-smartkarma-citation="entities:22912:1" rel="noopener">Philippines Stock Exchange PSEi Index (PCOMP INDEX)</a> ends in two weeks.</li>
<li>There could be two changes for the index with passive trackers needing to trade between 23-64x ADV in the stocks.</li>
<li>The passive buying is a lot larger than the passive selling, there will be funding outflows for the other index constituents; some stocks will have over 1x ADV to trade.</li>
</ul>


The review period for the February rebalance of the Philippines Stock Exchange PSEi Index (PCOMP INDEX) ends in two weeks.
There could be two changes for the index with passive trackers needing to trade between 23-64x ADV in the stocks.
The passive buying is a lot larger than the passive selling, there will be funding outflows for the other index constituents; some stocks will have over 1x ADV to trade.


PCOMP Index Rebalance Preview: Two Changes Likely in February

<ul>
<li>We are gradually building a high-conviction coverage of ideas for the mid and small-caps in the Philippines.</li>
<li>We set criteria for high ROCE, reasonable growth (10-15% YoY), strong balance sheets, and reasonable capital allocation (dividend yields), all ingredients for being multi-baggers.</li>
<li>We summarize some updates for our top year-end picks: <a href="https://www.smartkarma.com/entities/digiplus-interactive-corp" target="_blank" data-smartkarma-citation="entities:23060:1" rel="noopener">DigiPlus Interactive (PLUS PM)</a>, <a href="https://www.smartkarma.com/entities/ginebra-san-miguel-inc" target="_blank" data-smartkarma-citation="entities:23029:1" rel="noopener">Ginebra San Miguel (GSMI PM)</a>, and <a href="https://www.smartkarma.com/entities/the-keepers-holdings-inc" target="_blank" data-smartkarma-citation="entities:23003:1" rel="noopener">The Keepers Holdings (KEEPR PM)</a> </li>
</ul>


We are gradually building a high-conviction coverage of ideas for the mid and small-caps in the Philippines.
We set criteria for high ROCE, reasonable growth (10-15% YoY), strong balance sheets, and reasonable capital allocation (dividend yields), all ingredients for being multi-baggers.
We summarize some updates for our top year-end picks: DigiPlus Interactive (PLUS PM), Ginebra San Miguel (GSMI PM), and The Keepers Holdings (KEEPR PM) 


Shortlist of High Conviction Philippines Equity Ideas - December 2024

<ul>
<li>We are gradually building a high-conviction coverage of ideas for the mid and small-caps in the Philippines.</li>
<li>We set criteria for high ROCE, reasonable growth (10-15% YoY), strong balance sheets, and reasonable capital allocation (dividend yields), all ingredients for being multi-baggers.</li>
<li>We update results declared for Q3 by <a href="https://www.smartkarma.com/entities/shakey-s-pizza-asia-ventures" target="_blank" data-smartkarma-citation="entities:23706:1" rel="noopener">Shakey's Pizza (PIZZA PM)</a>, <a href="https://www.smartkarma.com/entities/ginebra-san-miguel-inc" target="_blank" data-smartkarma-citation="entities:23029:1" rel="noopener">Ginebra San Miguel (GSMI PM)</a>, <a href="https://www.smartkarma.com/entities/the-keepers-holdings-inc" target="_blank" data-smartkarma-citation="entities:23003:1" rel="noopener">The Keepers Holdings (KEEPR PM)</a> and <a href="https://www.smartkarma.com/entities/digiplus-interactive-corp" target="_blank" data-smartkarma-citation="entities:23060:1" rel="noopener">DigiPlus Interactive (PLUS PM)</a> </li>
</ul>


We are gradually building a high-conviction coverage of ideas for the mid and small-caps in the Philippines.
We set criteria for high ROCE, reasonable growth (10-15% YoY), strong balance sheets, and reasonable capital allocation (dividend yields), all ingredients for being multi-baggers.
We update results declared for Q3 by Shakey's Pizza (PIZZA PM), Ginebra San Miguel (GSMI PM), The Keepers Holdings (KEEPR PM) and DigiPlus Interactive (PLUS PM) 


Shortlist of High Conviction Philippines Equity Ideas - November 2024

Philippines

DigiPlus Interactive is a digital entertainment company operating in the Philippines, specializing in online and land-based gaming. The company offers a diverse portfolio of products including bingo, e-casino, specialty games, sports betting, and poker through platforms like BingoPlus, ArenaPlus, SpinPlus, and GameZone. Headquartered in Taguig City, Philippines, the company was founded in 1957.

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DigiPlus Interactive (PLUS PM)

Shortlist of High Conviction Philippines Equity Ideas and Updates from PSE Conference - March 2025

We provide pertinent summaries of all our meetings at the PSE conference held on 19-21 March, in addition to our screen of high-quality companies...

Sameer Taneja

Shortlist of High Conviction Philippines Equity Ideas - February 2025

We compile our selection of small and mid-cap names for the Philippines with our desired characteristics of high dividend yields, value, and margin...

Sameer Taneja

PCOMP Index Rebalance Preview: Two Changes Likely in February

There could be two sets of changes for the PCOMP in February. Passives will need to trade between 23-64x ADV in the stocks. The adds have moved...

Brian Freitas

Shortlist of High Conviction Philippines Equity Ideas - December 2024

We compile our selection of small and mid-cap names for the Philippines with our desired characteristics of high dividend yields, value, and margin...

Sameer Taneja

Shortlist of High Conviction Philippines Equity Ideas - November 2024

We compile our selection of small and mid-cap names for the Philippines with our desired characteristics of high dividend yields, value, and margin...

Sameer Taneja

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Market Cap (USDm)

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