Ace Hardware Indonesia (ACES IJ) - Will Expansion Mode Be Enough?
Ace Hardware Indonesia trades on 13.7x FY23E PER and 12.7x FY24E PER when it used to trade on twice that multiple with not dissimilar growth rates,...
311 Views
The New Year Week That Was in ASEAN@Smartkarma - MrDIY, Dynasty Ceramic, and Bank Mandiri's Livin'
The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity...
403 Views
Dynasty Ceramic Pub (DCC TB) - Tiling Thailand with Large and Small
Dynasty Ceramic Pub (DCC TB) is a high-quality play on the economic recovery in Thailand, with a good governance reputation. Valuations look...
725 Views
MR D.I.Y. Group (MRDIY MK) - Unique in Malaysia
MR D.I.Y. has a unique market position and strong brand in Malaysia, and Brunei and generates much higher ROEs than its regional peers hence...
663 Views
CTOS Digital Lock-Up Expiry:High Chance of Slow Motion Creador Exit but There Should Be Ample Buyers
CTOS Digital (CTOS) raised around US$291m in its Malaysian IPO in Jul 2021. It is majority owned by Creador, a PE firm. In this note, we talk about...
266 Views