Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, 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.

Equity Bottom-Up

<ul>
<li>EV Adoption in ASEAN is low compared to developed markets, however, development of a robust EV ecosystem remains a primary goal for the respective nations.</li>
<li>Governments in the region continues to introduce new policy measures and offer incentives to promote the sector, while companies continue to attract large investment to develop the EV market.</li>
<li>The four companies we looked at have reported earnings and we have discussed their latest results and our investment thesis.</li>
</ul>


EV Adoption in ASEAN is low compared to developed markets, however, development of a robust EV ecosystem remains a primary goal for the respective nations.
Governments in the region continues to introduce new policy measures and offer incentives to promote the sector, while companies continue to attract large investment to develop the EV market.
The four companies we looked at have reported earnings and we have discussed their latest results and our investment thesis.


ASEAN EV Ecosystem Update: Progressing Towards a Robust EV Ecosystem

External broker reports(aggregated public sources), Public Investment Bank Bhd

Public Investment Bank Bhd

External broker reports(aggregated public sources)

Public Investment Bank Berhad provides investment banking services. The Company offers corporate finance, banking, securities financing, capital market, treasury, and advisory services.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

D&O Green Technologies / Equity Bottom-Up

<ul><li>Local data centre-linked stocks were under hefty selling pressure in recent weeks following the news of tighter controls on Artificial Intelligence (AI) chip exports and caps on the amount of compute that can be shipped by the US.</li><li>Following our channel checks, we gather that the impact is largely muted on the local players as they mostly deal with the US hyperscalers, while it may take longer lead time for the AI server assemblers and dealers to process their orders due to various audit checks and traceability.</li><li>Overall, we think most of the technology stocks have overreacted to the negative news flow and some may even have limited exposure to the data centre play. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Local data centre-linked stocks were under hefty selling pressure in recent weeks following the news of tighter controls on Artificial Intelligence (AI) chip exports and caps on the amount of compute that can be shipped by the US.Following our channel checks, we gather that the impact is largely muted on the local players as they mostly deal with the US hyperscalers, while it may take longer lead time for the AI server assemblers and dealers to process their orders due to various audit checks and traceability.Overall, we think most of the technology stocks have overreacted to the negative news flow and some may even have limited exposure to the data centre play. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

TECHNOLOGY - US AI Chip Export Restriction

<ul>
<li>Countries across the ASEAN region continue to invest on developing their respective EV markets with governments introducing new initiatives and offering further incentives.</li>
<li>The price war among Chinese EV players has escalated in recent month, causing pressure on non-Chinese players. European and Japanese EV makers are increasingly looking at ASEAN for cost advantage.</li>
<li>The four companies we looked at have reported earnings and we have discussed their latest results and our investment thesis.</li>
</ul>


Countries across the ASEAN region continue to invest on developing their respective EV markets with governments introducing new initiatives and offering further incentives.
The price war among Chinese EV players has escalated in recent month, causing pressure on non-Chinese players. European and Japanese EV makers are increasingly looking at ASEAN for cost advantage.
The four companies we looked at have reported earnings and we have discussed their latest results and our investment thesis.


ASEAN EV Ecosystem Update: Initiatives to Build a Regional EV Ecosystem Continues

Merdeka Battery Materials / Equity Bottom-Up

<ul>
<li>EV supply chain is at a nascent stage in ASEAN and EV adoption in the region lags behind developed markets despite boasting a large population with a burgeoning middle class.</li>
<li>However, Governments in the region continue to introduce new initiatives and offer incentives to promote the sector, while companies continue to attract large investment to develop the EV market.</li>
<li>The four companies we looked at have reported earnings and we have discussed their latest results and our investment thesis.</li>
</ul>


EV supply chain is at a nascent stage in ASEAN and EV adoption in the region lags behind developed markets despite boasting a large population with a burgeoning middle class.
However, Governments in the region continue to introduce new initiatives and offer incentives to promote the sector, while companies continue to attract large investment to develop the EV market.
The four companies we looked at have reported earnings and we have discussed their latest results and our investment thesis.


ASEAN EV Ecosystem Update: Further Initiatives to Build a Regional EV Ecosystem

Malaysia

Greatech Technology Berhad provides automation solutions. The Company offers auto screw, water handler, robotics, fluid dispenser, semiconductor, battery, conveyor, sorter, tester, and other related products. Greatech Technology serves customers in the United States and Malaysia.

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Greatech Technology (GREATEC MK)

ASEAN EV Ecosystem Update: Progressing Towards a Robust EV Ecosystem

Development of a robust EV ecosystem remains a primary goal and the governments in the ASEAN region continue to introduce new policy measures and...

Shifara Samsudeen, ACMA, CGMA

TECHNOLOGY - US AI Chip Export Restriction

Overall, we think most of the technology stocks have overreacted to the negative news flow and some may even have limited exposure to the data...

Public Investment Bank Bhd

ASEAN EV Ecosystem Update: Initiatives to Build a Regional EV Ecosystem Continues

ASEAN countries continue to invest on developing the EV markets. The price war among Chinese EV players has escalated, and European and Japanese...

Shifara Samsudeen, ACMA, CGMA

ASEAN EV Ecosystem Update: Further Initiatives to Build a Regional EV Ecosystem

Development of a robust EV ecosystem remains a primary goal of the governments in the region. Governments continue to introduce new initiatives...

Shifara Samsudeen, ACMA, CGMA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ASEAN EV Ecosystem Update: Progressing Towards a Robust EV Ecosystem

​Development of a robust EV ecosystem remains a primary goal and the governments in the ASEAN region continue to introduce new policy measures and...

Shifara Samsudeen, ACMA, CGMA

TECHNOLOGY - US AI Chip Export Restriction

Overall, we think most of the technology stocks have overreacted to the negative news flow and some may even have limited exposure to the data...

Public Investment Bank Bhd

ASEAN EV Ecosystem Update: Initiatives to Build a Regional EV Ecosystem Continues

​ASEAN countries continue to invest on developing the EV markets. The price war among Chinese EV players has escalated, and European and Japanese...

Shifara Samsudeen, ACMA, CGMA

ASEAN EV Ecosystem Update: Further Initiatives to Build a Regional EV Ecosystem

Development of a robust EV ecosystem remains a primary goal of the governments in the region. Governments continue to introduce new initiatives...

Shifara Samsudeen, ACMA, CGMA

Development of a robust EV ecosystem remains a primary goal and the governments in the ASEAN region continue to introduce new policy measures and...

ASEAN countries continue to invest on developing the EV markets. The price war among Chinese EV players has escalated, and European and Japanese...