Founder/CEO of ROK Advisory, ROK Advisory LLC

Ken S. Kim

Founder/CEO of ROK Advisory

ROK Advisory LLC

ROK is an independent research advisory firm. We guide you to minimize the information gap between foreign and local investors in Northeast Asia with a focus in Korea, Taiwan and Japan.

Independent Research Advisory Firm

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) (2330 TT)

TSMC (Taiwan Semiconductor Manufacturing)

TSMC has been a significant outperformer versus Samsung Electronics.   How can TSMC continue this performance in the near future?   We take a look at their customer profiles as well what has been priced in and has not for the next few years.

TSMC has been a significant outperformer versus Samsung Electronics.   How can TSMC continue this performance in the near future?   We take a look at their customer profiles as well what has been priced in and has not for the next few years. 

TSMC Vs. Samsung.  Where's the Net Add Upside?

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

<ul><li>We reinitiate our coverage on VCOM with a Buy call and a target price of Bt6.70/share, based on 2021E PER of 18x.</li><li>Our Buy rating is underpinned by projected three-year earnings growth at a 23% CAGR, driven by growing demand for IT investment for enterprise alongside the dynamic digital technology cycle.</li><li>VCOM is a leading IT distributor serving corporate clients with a wide range of sophisticated requirements.</li></ul>

We reinitiate our coverage on VCOM with a Buy call and a target price of Bt6.70/share, based on 2021E PER of 18x.Our Buy rating is underpinned by projected three-year earnings growth at a 23% CAGR, driven by growing demand for IT investment for enterprise alongside the dynamic digital technology cycle.VCOM is a leading IT distributor serving corporate clients with a wide range of sophisticated requirements.

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

ASA Capital Management

ASA Capital Management is a boutique Research and Investment Advisory firm focusing on primary research in India. ASA provides bespoke research services to Institutional Clients with a focus on due diligence backed with primary research, Field Trips & Channel Checks.

Our objective with this weekly is to highlight notable developments in the India internet and consumer sector focusing on public and private companies. The sub-sectors covered include payment providers, e-commerce retailers,  social media platforms and consumer companies.
<ul>
<li>
<a href="https://www.smartkarma.com/entities/tata-group" target="_blank" data-smartkarma-citation="entities:25998:1" rel="noopener">Tata Group (1396Z IN)</a> is aiming to become a serious contender in the Indian E-Commerce race with a potential stake in <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba Group (BABA US)</a> backed BigBasket</li>
<li>
<a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a> re-gains its top slot in global smartphones thanks to market share gains in India</li>
<li>
<a href="https://www.smartkarma.com/entities/facebook-inc-a" target="_blank" data-smartkarma-citation="entities:665:1" rel="noopener">Facebook Inc A (FB US)</a> backed Whatsapp Pay gets its act together in the already competitive Indian Payments Market, expected to roll out soon. </li>
<li>India bans import of AC units, but we see no major market share gains for top players. </li>
</ul>

Our objective with this weekly is to highlight notable developments in the India internet and consumer sector focusing on public and private companies. The sub-sectors covered include payment providers, e-commerce retailers,  social media platforms and consumer companies.


Tata Group (1396Z IN) is aiming to become a serious contender in the Indian E-Commerce race with a potential stake in Alibaba Group (BABA US) backed BigBasket

Samsung Electronics (005930 KS) re-gains its top slot in global smartphones thanks to market share gains in India

Facebook Inc A (FB US) backed Whatsapp Pay gets its act together in the already competitive Indian Payments Market, expected to roll out soon. 
India bans import of AC units, but we see no major market share gains for top players. 


India Internet & Consumer Weekly | Bigbasket, Samsung, Whatsapp Pay, India's AC Ban

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.

Apple introduced a new line-up of iPhones enabled with 5G yesterday at its fall event on Tuesday (13th October 2020) after a month-long delay due to the Covid-19 outbreak. The company introduced four new 5G smartphones (iPhone 12, iPhone 12 Mini, iPhone 12 Pro and iPhone 12 Pro Max) powered by Apple-designed A14 bionic chips built on 5nm processors.According to Apple, the new iPhones deliver an advanced 5G experience on a global scale and boasts improved speeds for faster downloads and uploads, higher quality video streaming, more responsive gaming, real-time interactivity in apps and FaceTime in high definition.“The arrival of 5G marks the beginning of a new era for iPhone and we’re thrilled to bring these impressive new capabilities to our customers with iPhone 12 and iPhone 12 mini”Breaking tradition, yesterday’s Fall Event did not have a long line-up of new product launches, and HomePod Mini was the only other key hardware Apple revealed apart from new iPhones.

Apple introduced a new line-up of iPhones enabled with 5G yesterday at its fall event on Tuesday (13th October 2020) after a month-long delay due to the Covid-19 outbreak. The company introduced four new 5G smartphones (iPhone 12, iPhone 12 Mini, iPhone 12 Pro and iPhone 12 Pro Max) powered by Apple-designed A14 bionic chips built on 5nm processors.According to Apple, the new iPhones deliver an advanced 5G experience on a global scale and boasts improved speeds for faster downloads and uploads, higher quality video streaming, more responsive gaming, real-time interactivity in apps and FaceTime in high definition.“The arrival of 5G marks the beginning of a new era for iPhone and we’re thrilled to bring these impressive new capabilities to our customers with iPhone 12 and iPhone 12 mini”Breaking tradition, yesterday’s Fall Event did not have a long line-up of new product launches, and HomePod Mini was the only other key hardware Apple revealed apart from new iPhones.

Apple Unveils Long Awaited 5G IPhones that Could Trigger Massive IPhone Upgrades

Update of <a href="https://www.smartkarma.com/entities/micron-technology-inc" target="_blank" data-smartkarma-citation="entities:13382:1" rel="noopener">Micron Technology (MU US)</a> earnings,  making sense of the different inventory situation between the investment outlook and strategy as we head into 4Q20 and into 2021.   While the expected recovery was pushed back to 2H21 from <a href="https://www.smartkarma.com/entities/micron-technology-inc" target="_blank" data-smartkarma-citation="entities:13382:1" rel="noopener">Micron Technology (MU US)</a> hurt sentiment, we still believe it is an excellent chance to BUY and here's why.

Update of Micron Technology (MU US) earnings,  making sense of the different inventory situation between the investment outlook and strategy as we head into 4Q20 and into 2021.   While the expected recovery was pushed back to 2H21 from Micron Technology (MU US) hurt sentiment, we still believe it is an excellent chance to BUY and here's why.

Semi Memory Investing - Don't Be a Smart Aleck

China

Huawei Technologies Co., Ltd. provides networking products and telecommunication solutions. The Company researches and develops internet access, transmission network, servers, storage, security, and other networking products. Huawei Technologies also offers business consulting, network integration, assurance, managed, learning, and global delivery services.

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Huawei Technology (40978Z CH)

TSMC Vs. Samsung. Where's the Net Add Upside?

Why TSMC is still a buy as we look into 2022. Does Samsung have the scale to keep Qualcomm in their grasp and if not what is the next catalyst for...

Ken S. Kim

Moving Forward

We reinitiate our coverage on VCOM with a Buy call and a target price of Bt6.70/share, based on 2021E PER of 18x. Our Buy rating is underpinned by...

Krungthai XSpring

India Internet & Consumer Weekly | Bigbasket, Samsung, Whatsapp Pay, India's AC Ban

Tata Group joins the e-commerce race eyeing a stake on BABA backed Bigbasket, India helps Samsung regain its global spot, WhatsApp Pay expected to...

Pranav Bhavsar

Apple Unveils Long Awaited 5G IPhones that Could Trigger Massive IPhone Upgrades

Apple introduced a new line-up of iPhones enabled with 5G yesterday at its fall event on Tuesday (13th October 2020) after a month-long delay due...

Shifara Samsudeen, FCMA, CGMA

Semi Memory Investing - Don't Be a Smart Aleck

Update of

Ken S. Kim

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