Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Equity Bottom-Up

<ul>
<li>Increased demand from power plants under construction outside  G-7 countries</li>
<li>There is constrained supply as with many other fossil fuels</li>
<li>We look at a basket of coal stocks with good balance sheets and increasing production</li>
</ul>


Increased demand from power plants under construction outside  G-7 countries
There is constrained supply as with many other fossil fuels
We look at a basket of coal stocks with good balance sheets and increasing production


Coal Is Back - The Real Inconvenient Truth

<ul>
<li>Company Forecasts extremely conservative at current and expected metal prices</li>
<li>Scarcity Value for a liquid, large-cap gold miner in Japan</li>
<li>Balance Sheet will allow future share buybacks and dividend in the harvesting phase</li>
</ul>


Company Forecasts extremely conservative at current and expected metal prices
Scarcity Value for a liquid, large-cap gold miner in Japan
Balance Sheet will allow future share buybacks and dividend in the harvesting phase


Sumitomo Metal Mining -  A Shiny Mix of Gold, Copper and Nickel

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Teck Resources Limited's recent earnings call highlighted both notable achievements and challenging aspects, describing a transformative period for the company in 2025.</li><li>In a significant strategic move, Teck announced a merger with Anglo American, aimed at augmenting its standing in the global copper market.</li><li>This merger promises to position the combined entity as a leading force in the copper industry, leveraging expanded resources and an enhanced pipeline of projects.</li></ul>

Teck Resources Limited's recent earnings call highlighted both notable achievements and challenging aspects, describing a transformative period for the company in 2025.In a significant strategic move, Teck announced a merger with Anglo American, aimed at augmenting its standing in the global copper market.This merger promises to position the combined entity as a leading force in the copper industry, leveraging expanded resources and an enhanced pipeline of projects.

Teck Resources Underperform As Anglo Merger Faces Regulatory Timeline Pressure

<ul><li>Teck Resources Limited's third quarter 2025 earnings revealed several notable developments and results, underlining both strategic and operational shifts.</li><li>A major highlight was the announcement of a "merger of equals" agreement with Anglo American, aimed at creating a global leader in critical minerals and a top five copper producer, branded as Anglo Teck.</li><li>This merger is poised to generate significant value for shareholders, thanks to potential operational synergies and a combined portfolio emphasizing more than 70% copper exposure.</li></ul>

Teck Resources Limited's third quarter 2025 earnings revealed several notable developments and results, underlining both strategic and operational shifts.A major highlight was the announcement of a "merger of equals" agreement with Anglo American, aimed at creating a global leader in critical minerals and a top five copper producer, branded as Anglo Teck.This merger is poised to generate significant value for shareholders, thanks to potential operational synergies and a combined portfolio emphasizing more than 70% copper exposure.

Teck Resources: A World-Class Copper Portfolio Is Taking Shape—How Massive Could 1.2M Tonnes Be?

CEO / Founder, Crea8

Kim-Hwa Lim

CEO / Founder

Make an Impact

Crea8

Crea8 blends AI-driven precision, big data scalability, and rigorous quantitative frameworks with seasoned human insight. By extracting actionable intelligence from vast global datasets, we eliminate emotional bias and deliver optimal risk-adjusted returns. Our hybrid approach uncovers hidden market efficiencies and ensures your capital is dynamically positioned across markets.

Cross Asset Strategy

<ul>
<li>The strategy seeks to invest in Shariah compliant companies that provide life’s essential goods and services.</li>
<li>These companies support our societal well-being and are less likely to be subject to hype.</li>
<li>By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.</li>
</ul>


The strategy seeks to invest in Shariah compliant companies that provide life’s essential goods and services.
These companies support our societal well-being and are less likely to be subject to hype.
By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.


Global Life Essential (Shariah) Portfolio (18-Aug-2026)

Canada

Teck Resources Ltd. is an integrated natural resource group with activities in mining, smelting, and refining.  The Company mines zinc, copper, molybdenum, gold, and metallurgical coal in the United States, Canada, Peru, and Chile. Teck also produces refined metals, specialized metal products, and other products.

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Teck Resources (TECK US)

Coal Is Back - The Real Inconvenient Truth

Growing demand for coal outside of G-7 countries is putting pressure on already limited supply, leading to opportunities in coal stocks with...

Rikki Malik

Sumitomo Metal Mining - A Shiny Mix of Gold, Copper and Nickel

This miner has extremely conservative forecasts, some scarcity value, and a strong balance sheet for potential future buybacks and dividends.

Rikki Malik

Teck Resources Underperform As Anglo Merger Faces Regulatory Timeline Pressure

Teck Resources Limited's recent earnings call highlighted both notable achievements and challenging aspects, describing a transformative period...

Baptista Research

Teck Resources: A World-Class Copper Portfolio Is Taking Shape—How Massive Could 1.2M Tonnes Be?

Teck Resources Limited's third quarter 2025 earnings revealed several notable developments and results, underlining both strategic and operational...

Baptista Research

Global Life Essential (Shariah) Portfolio (18-Aug-2026)

The strategy seeks to invest in Shariah compliant companies that provide life’s essential goods and services. These companies support our societal...

Crea8

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Coal Is Back - The Real Inconvenient Truth

​Growing demand for coal outside of G-7 countries is putting pressure on already limited supply, leading to opportunities in coal stocks with...

Rikki Malik

Sumitomo Metal Mining - A Shiny Mix of Gold, Copper and Nickel

This miner has extremely conservative forecasts, some scarcity value, and a strong balance sheet for potential future buybacks and dividends.

Rikki Malik

Teck Resources Underperform As Anglo Merger Faces Regulatory Timeline Pressure

Teck Resources Limited's recent earnings call highlighted both notable achievements and challenging aspects, describing a transformative period...

Baptista Research

Teck Resources: A World-Class Copper Portfolio Is Taking Shape—How Massive Could 1.2M Tonnes Be?

Teck Resources Limited's third quarter 2025 earnings revealed several notable developments and results, underlining both strategic and operational...

Baptista Research

Global Life Essential (Shariah) Portfolio (18-Aug-2026)

The strategy seeks to invest in Shariah compliant companies that provide life’s essential goods and services. These companies support our societal...

Crea8

Growing demand for coal outside of G-7 countries is putting pressure on already limited supply, leading to opportunities in coal stocks with...