ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Thematic (Sector/Industry)

For this week's ASEAN Weekly, created in the midst of Jakarta "Macet", I interviewed Insight Provider and Thai guru <a href="https://www.smartkarma.com/profiles/766" target="_blank" data-smartkarma-citation="accounts:766">Athaporn Arayasantiparb</a> to canvass his views on Thailand and his top picks at the moment. His views on the overall economy suggest there may be too much optimism around on a domestic recovery and higher oil prices may eventually stymie growth for the Thai consumer. He likes selected banks, higher end property developers, energy, construction and tourism. Please read on for a…

For this week's ASEAN Weekly, created in the midst of Jakarta "Macet", I interviewed Insight Provider and Thai guru Athaporn Arayasantiparb to canvass his views on Thailand and his top picks at the moment. His views on the overall economy suggest there may be too much optimism around on a domestic recovery and higher oil prices may eventually stymie growth for the Thai consumer. He likes selected banks, higher end property developers, energy, construction and tourism. Please read on for a…

The Week That Was in ASEAN@Smartkarma (Part 2) - Macet=Traffic Jam

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>As part of a new transparency drive - predicated on MSCI concerns - Indonesia's IDX flagged nine companies with a high shareholder concentration. All with lofty outperformances to match.</li>
<li>The list included Indo's third largest market cap company, coal producer <a href="https://www.smartkarma.com/entities/dian-swastatika-sentosa-tbk" target="_blank" data-smartkarma-citation="entities:15281:1" rel="noopener">Dian Swastatika Sentosa (DSSA IJ)</a>, with an eye-watering trailing PER of 136x. DSSA is backed by the Widjaja family.</li>
<li>
<a href="https://www.smartkarma.com/entities/pt-barito-renewables-energy-tbk" target="_blank" data-smartkarma-citation="entities:40150:1" rel="noopener">Barito Renewables Energy (BREN IJ)</a>, Indo's second-largest company, also made the cut. I've previously flagged this bubble stock in <a href="https://skr.ma/P9wjq" target="_blank" rel="noopener">StubWorld: Barito Renewables (BREN IJ) - This Too Shall Pop.</a>
</li>
</ul>


As part of a new transparency drive - predicated on MSCI concerns - Indonesia's IDX flagged nine companies with a high shareholder concentration. All with lofty outperformances to match.
The list included Indo's third largest market cap company, coal producer Dian Swastatika Sentosa (DSSA IJ), with an eye-watering trailing PER of 136x. DSSA is backed by the Widjaja family.

Barito Renewables Energy (BREN IJ), Indo's second-largest company, also made the cut. I've previously flagged this bubble stock in StubWorld: Barito Renewables (BREN IJ) - This Too Shall Pop.



IDX's Bubble Stocks: Enhanced Reporting Regs Partly Address Investability Concerns

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.

The first 10 months of 2016 brought its fair share of macroeconomic challenges to the region. During the 10 months, the Straits Times Index (STI) generated a 1% total return, which was not far behind that of the MSCI AC Asia Pacific Index. However, the 1% gain is hardly the full story for the 30 STI stocks in the year thus far.  All five Global Industry Classification Standards (GICS®) Sectors without STI representation also generated gains over the first 10 months. These Sectors are also at junctures of opportunity and challenge, with Sector-wide themes such as technology disruptors, population longevity &amp; growth and asymmetric trends in commodity prices. The five Sectors have also become increasingly important for investors who seek portfolio diversification in times of increased economic uncertainty.

The first 10 months of 2016 brought its fair share of macroeconomic challenges to the region. During the 10 months, the Straits Times Index (STI) generated a 1% total return, which was not far behind that of the MSCI AC Asia Pacific Index. However, the 1% gain is hardly the full story for the 30 STI stocks in the year thus far.  All five Global Industry Classification Standards (GICS®) Sectors without STI representation also generated gains over the first 10 months. These Sectors are also at junctures of opportunity and challenge, with Sector-wide themes such as technology disruptors, population longevity &amp; growth and asymmetric trends in commodity prices. The five Sectors have also become increasingly important for investors who seek portfolio diversification in times of increased economic uncertainty. 

Buoyant Returns Beyond the Benchmark in 2016 YTD

Founder and CEO, Europacifica Consulting

Naomi Fink

Founder and CEO

Europacifica Consulting

In the first piece of the series <a href="https://www.smartkarma.com/insights/silk-roads-part-i-background" target="_blank" data-smartkarma-citation="insights:7042">Silk Roads Part I: Background</a> we outlined briefly the drivers behind China's "One Belt One Road" initiative which in our view remains an important complementary external pillar to China's ongoing domestic policy agenda, and thus a high-conviction longer-term investment theme. In the second piece in our Silk Roads series, we situate the OBOR bloc in terms of current liquid investment securities.OBOR markets already comprise 22% of world market capitalisation and are home to about 60% of cross-border investment capital resident in emerging market economies worldwide.  Of that 60%, 40% of this capital is resident in China. From an investment strategy standpoint, this shows that, while beneficiaries of the policy exist further afield than in China itself, there are merits in focusing on those Chinese names exposed to OBOR investments as the first port-of-call.

In the first piece of the series Silk Roads Part I: Background we outlined briefly the drivers behind China's "One Belt One Road" initiative which in our view remains an important complementary external pillar to China's ongoing domestic policy agenda, and thus a high-conviction longer-term investment theme. In the second piece in our Silk Roads series, we situate the OBOR bloc in terms of current liquid investment securities.OBOR markets already comprise 22% of world market capitalisation and are home to about 60% of cross-border investment capital resident in emerging market economies worldwide.  Of that 60%, 40% of this capital is resident in China. From an investment strategy standpoint, this shows that, while beneficiaries of the policy exist further afield than in China itself, there are merits in focusing on those Chinese names exposed to OBOR investments as the first port-of-call. 

Silk Roads Part 2: Big (Emerging Market) OBOR Investors

Co-founder & Managing Director, Marketnomix 

Rajan Govil

Co-founder & Managing Director

Marketnomix 

Macroeconomics

Malaysia’s GDP grew 4% y-o-y in 2Q2016 compared to a 4.2% y-o-y rise in 1Q2016 – slowing for the sixth straight quarter. Final consumption contributed 4.1 percentage point (ppt) to GDP largely driven by private consumption while fixed capital formation contributed 1.7 ppt. Change in inventories and net exports detracted 1.2 ppt and 0.7 ppt respectively from GDP. Net exports detracted from overall GDP as imports grew at a faster pace than exports.On the supply side, growth continued to be driven…

Malaysia’s GDP grew 4% y-o-y in 2Q2016 compared to a 4.2% y-o-y rise in 1Q2016 – slowing for the sixth straight quarter. Final consumption contributed 4.1 percentage point (ppt) to GDP largely driven by private consumption while fixed capital formation contributed 1.7 ppt. Change in inventories and net exports detracted 1.2 ppt and 0.7 ppt respectively from GDP. Net exports detracted from overall GDP as imports grew at a faster pace than exports.On the supply side, growth continued to be driven…

Malaysia: Manufacturing and Services Drive GDP

Malaysia

Tenaga Nasional Berhad transmits, distributes, and sells electricity under license issued by the Director General of Electricity Supply. Through its subsidiaries, the Company manufactures, sells and repairs transformers and switchgears. Tenaga Nasional also provides project management and consultancy, engineering works and energy project development services.

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Tenaga Nasional (TNB MK)

The Week That Was in ASEAN@Smartkarma (Part 2) - Macet=Traffic Jam

For this week's ASEAN Weekly, created in the midst of Jakarta "Macet", I interviewed Insight Provider and Thai guru Athaporn Arayasantiparb to...

Angus Mackintosh

IDX's Bubble Stocks: Enhanced Reporting Regs Partly Address Investability Concerns

Barito Pacific (BRPT IJ) and Barito Renewables Energy (BREN IJ) are both uninvestable.As is Dian Swastatika Sentosa (DSSA IJ). IDX still has...

David Blennerhassett

Buoyant Returns Beyond the Benchmark in 2016 YTD

The first 10 months of 2016 brought its fair share of macroeconomic challenges to the region. During the 10 months, the Straits Times Index (STI)...

Singapore Exchange Ltd (SGX)

Silk Roads Part 2: Big (Emerging Market) OBOR Investors

In the first piece of the series Silk Roads Part I: Background we outlined briefly the drivers behind China's "One Belt One Road" initiative which...

Naomi Fink

Malaysia: Manufacturing and Services Drive GDP

Malaysia’s GDP grew 4% y-o-y in 2Q2016 compared to a 4.2% y-o-y rise in 1Q2016 – slowing for the sixth straight quarter. Final consumption...

Rajan Govil

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