Monde Nissin: The Investment Case
The sentiment is weak due to the large impairment charges. The valuation is undemanding (SOTP valuation of PHP10.21) and will prove attractive to...
557 Views
First Pacific (142 HK): Maynilad's IPO (Now With Prospectus Numbers)
This insight is largely a rehash of yesterday's note, together with updated numbers applying prospectus figures. I thought this warranted a fresh...
413 Views
First Pacific (142 HK): Maynilad's IPO Price Firmed
First Pac's NAV discount is elevated for a multiple cross-border, difficult to short holdco. Maynilad's IPO was priced below expectations. Plus the...
312 Views
The Week That Was in ASEAN@Smartkarma - SCMA's Reset, Metrodata, and Indocement's Alternative Edge.
The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity...
459 Views
Monde Nissin: High Steaks And Flexitarian Impairments
Monde is not "cheap". And Universal and Century have stronger forward top-line growth and superior yields. I can see Mode drifting lower to sideways.
682 Views