Bukalapak: Mitra Won’t Save The Day Any More
At 27.9x FY+2 revenue, Bukalapak has plenty of further downside potential especially considering that that the Mitra business may not grow fast...
555 Views
Matahari Department Store (LPPF IJ) - Revamped, Refreshed, and Investable
Matahari Department Store (LPPF IJ) has become investable again with an omnichannel approach and a revamped and refreshed brand portfolio.
379 Views
Paytm IPO: More Expensive than Global Payment Giants and SOTP Suggests More Than 40% Discount
With not so conservative assumptions, our SOTP valuation suggests that Paytm's shares are significantly overvalued at the IPO price range. At the...
388 Views
The Week That Was in ASEAN@Smartkarma - Indonesia's Rich Media, Mitratel, and Malaysian Banks
The week that was in ASEAN@Smartkarma is filled with another eclectic mix of differentiated, substantive, and actionable insights from across South...
366 Views
Kakao Pay IPO Trading - Won't Be Chasing
Kakao Pay, one of South Korea’s largest payment and financial services apps, raised around US$1.3bn in its South Korean IPO. Kakao held a 55% stake...
310 Views