Asia Ex-J Consumer/ Transport analyst

Valerie Law, CFA

Thematic (Sector/Industry)

The global edtech market is expected to grow 17% a year - hitting USD 252bn by 2020, according to research by IBIS Capital. Global tech companies such as Google, LinkedIn and Tencent all have their fingers in the pie. With so many Edtech companies out there seeking funds, how should we pick which ones to invest in?As part of an Edtech series, this first article provides an overview of Edtech firms' business model, and examines the key advantages that traditional education institutions have, against which Edtech firms will be measured:  1. Trust that they can deliver ‘quality’ outcomes 2. Discipline offered within a physical classroom 3. Customized diagnosis by a teacher/instructor 4. Modelling – a universal way by which humans learn 5. Stimulation of various parts of the brain

 The global edtech market is expected to grow 17% a year - hitting USD 252bn by 2020, according to research by IBIS Capital. Global tech companies such as Google, LinkedIn and Tencent all have their fingers in the pie. With so many Edtech companies out there seeking funds, how should we pick which ones to invest in?As part of an Edtech series, this first article provides an overview of Edtech firms' business model, and examines the key advantages that traditional education institutions have, against which Edtech firms will be measured:   1. Trust that they can deliver ‘quality’ outcomes 2. Discipline offered within a physical classroom 3. Customized diagnosis by a teacher/instructor 4. Modelling – a universal way by which humans learn 5. Stimulation of various parts of the brain

Ed or Tech, Edtech Firms Must Cross These Moats

In the recent release of The Committee On Future Economy (CFE) Report, the Singapore government brought up a few key trends that are affecting Singapore's economy, in particular: i) subdued global growth to continue in the next few years ii) rapid technological changes that can give way to new global value chains and production patterns  iii) Political uncertainties with the rising support for protectionism Below is the summary of seven key strategies presented by the Committee:1. Deepen and…

In the recent release of The Committee On Future Economy (CFE) Report, the Singapore government brought up a few key trends that are affecting Singapore's economy, in particular: i) subdued global growth to continue in the next few years ii) rapid technological changes that can give way to new global value chains and production patterns  iii) Political uncertainties with the rising support for protectionism  Below is the summary of seven key strategies presented by the Committee:1. Deepen and…

Singapore: Top Ten Words in CFE Report Highlight the Future of Education

Chairman, sgtradex

Tan Chin-Hwee

Chairman

<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/019/992/original/Pisatest.jpg?1485928080" class="editor-image img-responsive" data-smartkarma-image-id="19992"></figure><div class="content-caption">By Theo Müller - Own work, <a href="https://commons.wikimedia.org/w/index.php?curid=837159" target="_blank">CC BY-SA 2.5</a>
</div>I was excited to read about Singapore's top ranking in the Pisa (<a href="https://en.wikipedia.org/wiki/Programme_for_International_Student_Assessment" target="_blank">Programme for International Student Assessment</a>) tests and the perfect score of our IB (International Baccalaureate) achievers.We should be proud of what we have achieved in such a short time as a country. Our position among the best today in educational terms is the result of the hard work and leadership of the Singapore Government and teachers. There are not many things from Singapore that…

By Theo Müller - Own work, CC BY-SA 2.5
I was excited to read about Singapore's top ranking in the Pisa (Programme for International Student Assessment) tests and the perfect score of our IB (International Baccalaureate) achievers.We should be proud of what we have achieved in such a short time as a country. Our position among the best today in educational terms is the result of the hard work and leadership of the Singapore Government and teachers. There are not many things from Singapore that…

Singapore's Education System Must Embrace the Frontier Beyond Academic Achievement

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/low-keng-huat-singapore-ltd" target="_blank" data-smartkarma-citation="entities:1928:1" rel="noopener">Low Keng Huat Singapore (LKH SP)</a> has disclosed a voluntary conditional offer from the Managing Director at S$0.72 per share, a 17.1% premium to the last close price. </li>
<li>While the offer represents an all-time high, it is below net asset value (implying a P/NAV of 0.91x). It is also light compared to precedent transactions. </li>
<li>The offer price has not been declared final. A bump may be needed to satisfy the 90% minimum acceptance condition.</li>
</ul>



Low Keng Huat Singapore (LKH SP) has disclosed a voluntary conditional offer from the Managing Director at S$0.72 per share, a 17.1% premium to the last close price. 
While the offer represents an all-time high, it is below net asset value (implying a P/NAV of 0.91x). It is also light compared to precedent transactions. 
The offer price has not been declared final. A bump may be needed to satisfy the 90% minimum acceptance condition.


Low Keng Huat (LKH SP): Conditional VGO at S$0.72 May Need a Bump

Freelance Research Analyst

Tay Hock Meng

Developers managed to sell 384 new units, excluding executive condominiums (ECs) in December 2015, compared to 759 units in November 2015, and 230 units in December 2014. Including ECs, developers sold a total of 508 new units in December 2015, compared to 945 new units in November 2015, and 406 new units in December 2014. The December 2015 results brings the total number of new private residential units sold by developers to around 7,460 to 7,490 in 2015, about 2% higher than 2014 (Comprehensive property sales results for 4Q and whole of 2015  is scheduled to be released by the government on January 22, 2016).

Developers managed to sell 384 new units, excluding executive condominiums (ECs) in December 2015, compared to 759 units in November 2015, and 230 units in December 2014. Including ECs, developers sold a total of 508 new units in December 2015, compared to 945 new units in November 2015, and 406 new units in December 2014. The December 2015 results brings the total number of new private residential units sold by developers to around 7,460 to 7,490 in 2015, about 2% higher than 2014 (Comprehensive property sales results for 4Q and whole of 2015  is scheduled to be released by the government on January 22, 2016). 

Singapore

Hotel Grand Central Limited owns, operates, and manages hotels and properties across Singapore, Malaysia, Australia, New Zealand, and China, primarily under the Grand Hotels International and Hotel Grand Chancellor brands. The company also engages in commercial property investments and provides related marketing, support, and management services. It is headquartered in Singapore and was founded in 1968.

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Hotel Grand Central (GRAN SP)

Ed or Tech, Edtech Firms Must Cross These Moats

The global edtech market is expected to grow 17% a year - hitting USD 252bn by 2020, according to research by IBIS Capital. Global tech companies...

Valerie Law, CFA

Singapore: Top Ten Words in CFE Report Highlight the Future of Education

In the recent release of The Committee On Future Economy (CFE) Report, the Singapore government brought up a few key trends that are affecting...

Valerie Law, CFA

Singapore's Education System Must Embrace the Frontier Beyond Academic Achievement

I was excited to read about Singapore's top ranking in the Pisa (Programme for International Student Assessment) tests and the perfect score of our...

Tan Chin-Hwee

Low Keng Huat (LKH SP): Conditional VGO at S$0.72 May Need a Bump

While the offer represents an all-time high, it is below NAV. The offer price has not been declared final. A bump may be needed to satisfy the 90%...

Arun George

Modest Rise in New Home Sales in 2015

Developers managed to sell 384 new units, excluding executive condominiums (ECs) in December 2015, compared to 759 units in November 2015, and 230...

Tay Hock Meng

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