Asia Ex-J Consumer/ Transport analyst

Valerie Law, CFA

Thematic (Sector/Industry)

In this piece, we continue part 2 of the article written by <a href="https://www.smartkarma.com/profiles/605" target="_blank" data-smartkarma-citation="accounts:605">Daniel Hellberg</a> as part of our collaboration piece: #Then &amp; Now: Online Grocery delivery in the US &amp; SEA. Here, we examine the size of Southeast Asia's supermarket and online grocery delivery landscape, the startups in the space, and what the incumbents are doing amidst increasing competition. We attempt to answer the following questions:1. What has changed for grocery startups?2. How big is the online grocery market size in Southeast Asia?3. Which are the startups focused on the grocery space?4. What are the incumbents' responses?5. Who are the likely winners of tomorrow?

In this piece, we continue part 2 of the article written by Daniel Hellberg as part of our collaboration piece: #Then &amp; Now: Online Grocery delivery in the US &amp; SEA. Here, we examine the size of Southeast Asia's supermarket and online grocery delivery landscape, the startups in the space, and what the incumbents are doing amidst increasing competition. We attempt to answer the following questions:1. What has changed for grocery startups?2. How big is the online grocery market size in Southeast Asia?3. Which are the startups focused on the grocery space?4. What are the incumbents' responses?5. Who are the likely winners of tomorrow? 

Then & Now: Online Grocery Delivery in the US & SE Asia (Part 2 of 2)

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

As a result of high income inequality, the Philippines' consumer market is characterised by marked differences in spending patterns across income deciles. While decile 1 has to allocate most of its spending to cover basic needs, decile 10 is able to splurge on hotels and catering, leisure and recreation and education (which are the most discretionary spending categories in <a target="_blank">the Philippines</a>). Given that decile 10 is projected to record the largest rise in discretionary spending capacity across all…

As a result of high income inequality, the Philippines' consumer market is characterised by marked differences in spending patterns across income deciles. While decile 1 has to allocate most of its spending to cover basic needs, decile 10 is able to splurge on hotels and catering, leisure and recreation and education (which are the most discretionary spending categories in the Philippines). Given that decile 10 is projected to record the largest rise in discretionary spending capacity across all…

Philippines: Wealthy Households to Enjoy the Rise in Discretionary Spending Capa. Through to 2030

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

Equity Bottom-Up

DNL provides an indirect exposure to the Philippines consumer’s segment by becoming a supplier to most of the consumer business in the Philippines. The company focuses on its R&amp;D activity whose charges are not passed to the customer (DNL owns the formulation). The company also employs an asset policy that keeps their balance sheet relatively light.Country’s GDP has grown 7% on average the past few years. The political risk could be hindering investors from putting their risk capital to the country but recent tough regime change administered by current President Duterte seemed to bring peace and stability to the country.Agreement with Ventura Foods was signed in 2014 and DNL will start actual work for Ventura in 1H 2017. This will increase its revenue and set the path for its export revenue in addition to the revenue from domestic demand.

DNL provides an indirect exposure to the Philippines consumer’s segment by becoming a supplier to most of the consumer business in the Philippines. The company focuses on its R&amp;D activity whose charges are not passed to the customer (DNL owns the formulation). The company also employs an asset policy that keeps their balance sheet relatively light.Country’s GDP has grown 7% on average the past few years. The political risk could be hindering investors from putting their risk capital to the country but recent tough regime change administered by current President Duterte seemed to bring peace and stability to the country.Agreement with Ventura Foods was signed in 2014 and DNL will start actual work for Ventura in 1H 2017. This will increase its revenue and set the path for its export revenue in addition to the revenue from domestic demand.  

DNL Industries: Your Research-Driven Consumer Company in the Philippines.

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

<ul><li>Of the actively traded stocks listed on SGX, Singapore Medical Group saw the biggest jump in volume in August compared to its three-month average volume. The stock also gained 91.4% in August and earlier in the month reported a turnaround net profit of S$0.8 million for 1H2016 compared to a net loss of S$0.1 million in 1H2015.</li></ul><ul><li>
Consumer Staples plays, Sheng Siong Group and Dairy Farm International Holdings were also amongst the 10 actively traded stocks that saw the biggest jump in August volume.…</li></ul>

Of the actively traded stocks listed on SGX, Singapore Medical Group saw the biggest jump in volume in August compared to its three-month average volume. The stock also gained 91.4% in August and earlier in the month reported a turnaround net profit of S$0.8 million for 1H2016 compared to a net loss of S$0.1 million in 1H2015.
Consumer Staples plays, Sheng Siong Group and Dairy Farm International Holdings were also amongst the 10 actively traded stocks that saw the biggest jump in August volume.…

10 Biggest Volume Jumpers in August Spanned Seven Sectors

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

<ul><li class="p1">Although rivalry among quick-service restaurants is on the rise&nbsp;worldwide, we believe Yum Brands offers one of the more&nbsp;compelling global growth stories in our consumer coverage&nbsp;universe.</li><li class="p1">Although Yum China's recovery has been slower than expected&nbsp;because of a softening macro picture, an evolving competitive set,&nbsp;and executional missteps, we still remain optimistic about Yum&nbsp;China's longer-term opportunities given a fragmented restaurant&nbsp;industry, a growing China middle class, ongoing urbanization&nbsp;trends, and the market becoming conducive to franchising.</li><li class="p1">With roughly 40% of Yum's operating income coming from China,&nbsp;the stock is tied to market perceptions of macro and consumer&nbsp;trends in the region. &nbsp;However, we view Yum as more than a China&nbsp;story and encourage investors to evaluate its other divisions.</li></ul>Analyst: R.J. HottovyFull report below the fold...

Although rivalry among quick-service restaurants is on the rise&nbsp;worldwide, we believe Yum Brands offers one of the more&nbsp;compelling global growth stories in our consumer coverage&nbsp;universe.Although Yum China's recovery has been slower than expected&nbsp;because of a softening macro picture, an evolving competitive set,&nbsp;and executional missteps, we still remain optimistic about Yum&nbsp;China's longer-term opportunities given a fragmented restaurant&nbsp;industry, a growing China middle class, ongoing urbanization&nbsp;trends, and the market becoming conducive to franchising.With roughly 40% of Yum's operating income coming from China,&nbsp;the stock is tied to market perceptions of macro and consumer&nbsp;trends in the region. &nbsp;However, we view Yum as more than a China&nbsp;story and encourage investors to evaluate its other divisions.Analyst: R.J. HottovyFull report below the fold...

China concerns legitimate, but Yum still offers a compelling long-term global cash flow story.

Philippines

Jollibee Foods Corporation owns, franchises and manages a network of fast food restaurants under the trade name Jollibee. The Company was incorporated in 1978.

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Jollibee Foods (JFC PM)

Then & Now: Online Grocery Delivery in the US & SE Asia (Part 2 of 2)

In this piece, we continue part 2 of the article written by Daniel Hellberg as part of our collaboration piece: #Then & Now: Online Grocery...

Valerie Law, CFA

Philippines: Wealthy Households to Enjoy the Rise in Discretionary Spending Capa. Through to 2030

As a result of high income inequality, the Philippines' consumer market is characterised by marked differences in spending patterns across income...

Euromonitor International Ltd.

DNL Industries: Your Research-Driven Consumer Company in the Philippines.

DNL provides an indirect exposure to the Philippines consumer’s segment by becoming a supplier to most of the consumer business in the Philippines....

Henry Soediarko

10 Biggest Volume Jumpers in August Spanned Seven Sectors

Of the actively traded stocks listed on SGX, Singapore Medical Group saw the biggest jump in volume in August compared to its three-month average...

Singapore Exchange Ltd (SGX)

China concerns legitimate, but Yum still offers a compelling long-term global cash flow story.

Although rivalry among quick-service restaurants is on the rise worldwide, we believe Yum Brands offers one of the more compelling global growth...

Morningstar, Inc.

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