Smartkarma Daily Briefs

PAG is the successful bidder for Shandong Fengxiang (9977 HK)‘s controlling shareholder’s 70.92% stake at HK$1.5132 per H Share (RMB1.3822 per domestic share).
As PAG has no compulsory acquisition rights, it will also seek shareholder delisting approval. The MGO is not conditional on the approval of the delisting resolution.
The share sale transfer requires SAMR approval which will be forthcoming. Our best guess is the MGO completes end-January 2023. At the last close, the gross spread is 14.6%.

Elon Has “Freed” Twitter: Send The Ravens

By Vicki Bryan

Elon Musk closed his Twitter deal Thursday as confirmed today via a filing with the SEC to delist its stock.
We don’t know if Elon sold more Tesla to cover his cash shortfall. If not, where did he get it?
He also sent Tesla’s engineers to assess how to fix Twitter. Like, sharing resources. Establishing synergies. Maybe creating an excuse to direct Tesla to “invest” into Twitter, as I suspected.

Suzuki (7269 JT) | Way Too Cheap Ahead of 2Q Earnings – India’s Maruti (MSIL IN) Shows the Way

By Mark Chadwick

Maruti Suzuki reported above Consensus 2Q driven by strong volumes and improved margins
Earnings bode well for Suzuki’s 2Q earnings on Nov 8. Also, Maruti indicated significant easing of semi-driven supply constraints. Positive readacross for Suzuki.
Suzuki’s ex-Maruti operations are now cheaper than ever at under 2.5x PER. We see upside to earnings vs. Consensus and keep our bullish stance on the stock.

ECM Weekly (30th Oct 2022) – Giant Biogene, Sunshine, I-Tail, Global Health, Lygend, Fusion, Blibli

By Sumeet Singh

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
On the IPO front, Blibli managed to upsize its IPO, while a few companies will launch their Indian IPOs in the coming week.
There were no notable placements this week, which wasn’t surprising after Monday’s market turmoil.

Hong Kong CEO & Director Dealings: 28th Oct: Haichang Ocean Park, CC Land, GBA

The data in this insight is collated from the “shareholding disclosure” link on the HKEx website.
Often there is a corresponding HKEx announcement on the increase – or decrease – in the shareholding by directors. However, such disclosures are by no means an absolute.
These insights may flag those companies where shares have been pledged. Stocks mentioned include Haichang Ocean Park Holdings (2255 HK), C C Land (1224 HK), and GBA Holdings (261 HK).

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Oct 30

Daily Brief ECM: ECM Weekly (30th Oct 2022) – Giant Biogene and more

By Smartkarma Daily Briefs | Daily Briefs, ECM

In today’s briefing:

ECM Weekly (30th Oct 2022) – Giant Biogene, Sunshine, I-Tail, Global Health, Lygend, Fusion, Blibli

ECM Weekly (30th Oct 2022) – Giant Biogene, Sunshine, I-Tail, Global Health, Lygend, Fusion, Blibli

By Sumeet Singh

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
On the IPO front, Blibli managed to upsize its IPO, while a few companies will launch their Indian IPOs in the coming week.
There were no notable placements this week, which wasn’t surprising after Monday’s market turmoil.

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Oct 30

Daily Brief Credit: Elon Has “Freed” Twitter: Send The Ravens and more

By Smartkarma Daily Briefs | Credit, Daily Briefs

In today’s briefing:

Elon Has “Freed” Twitter: Send The Ravens

Elon Has “Freed” Twitter: Send The Ravens

By Vicki Bryan

Elon Musk closed his Twitter deal Thursday as confirmed today via a filing with the SEC to delist its stock.
We don’t know if Elon sold more Tesla to cover his cash shortfall. If not, where did he get it?
He also sent Tesla’s engineers to assess how to fix Twitter. Like, sharing resources. Establishing synergies. Maybe creating an excuse to direct Tesla to “invest” into Twitter, as I suspected.

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Oct 30

Daily Brief Event-Driven: Fengxiang’s Unconditional MGO at HK$ 1.5132 from PAG and more

By Smartkarma Daily Briefs | Daily Briefs, Event-Driven

In today’s briefing:

Fengxiang’s Unconditional MGO at HK$ 1.5132 from PAG
Hyundai Elevator: Announces a Major Share Buyback Program
Index Rebalance & ETF Flow Recap: S&P/ASX, STAR50, CSI300, SSE50, IDX, GOTO, SMM/KEP
Last Week In Event SPACE: Keppel/Sembcorp, Socionext, Jinke Smart, Hitachi Transport, Lifestyle Intl
Nitro’s Carrot-And-Stick A$1.80 Takeover Offer from Potentia
Pushpay Enters a SID with Sixth Street/BGH at NZ$1.34
KOSDAQ150 Ad Hoc Index Rebalance: LX Semicon OUT, Nextin IN
(Mostly) Asia-Pac Weekly Risk Arb Wrap: ELMO, Kingston Financial, Hitachi Transport, Nearmap, Aruhi
Hong Kong CEO & Director Dealings: 28th Oct: Haichang Ocean Park, CC Land, GBA
Pushpay: BGH/Sixth Street Keep The Faith With $1.34/Share Tilt

Fengxiang’s Unconditional MGO at HK$ 1.5132 from PAG

PAG is the successful bidder for Shandong Fengxiang (9977 HK)‘s controlling shareholder’s 70.92% stake at HK$1.5132 per H Share (RMB1.3822 per domestic share).
As PAG has no compulsory acquisition rights, it will also seek shareholder delisting approval. The MGO is not conditional on the approval of the delisting resolution.
The share sale transfer requires SAMR approval which will be forthcoming. Our best guess is the MGO completes end-January 2023. At the last close, the gross spread is 14.6%.

Hyundai Elevator: Announces a Major Share Buyback Program

By Douglas Kim

On 28 October, Hyundai Elevator Co (017800 KS) announced a major share buyback program worth 2.1 million shares, representing 5.1% of outstanding shares or about 50 billion won.
Hyundai Elevator Co Ltd makes excellent elevators and it is the number one player in the elevator industry in Korea with a 41% market share as of 2Q 2022.
Despite the company’s valuations trading at lower levels than its recent historical levels, the negative factors impacting the company are much bigger in scale than the share buyback program.

Index Rebalance & ETF Flow Recap: S&P/ASX, STAR50, CSI300, SSE50, IDX, GOTO, SMM/KEP

The review period for the MSCI Nov SAIR, Kospi 200 Index, KOSDAQ 150 Index, S&P BSE SENSEX Index and a bunch of mainland China indices ends on 31 October.
The minor rebalancing of the IDX30, LQ45 and IDX80 indices takes place at the close on 31 October, while the KOSDAQ 150 Index ad hoc rebalance is on 2 November.
There were outflows from IShares Core MSCI Asia Ex Japan ETF (3010 HK) and inflows to Tracker Fund (2800 HK) and Hang Seng H Share Index ETF (2828 HK).

Last Week In Event SPACE: Keppel/Sembcorp, Socionext, Jinke Smart, Hitachi Transport, Lifestyle Intl

Under revised terms, Sembcorp (SMM SP) will issue fewer shares to Keppel (KEP SP). It’s now a takeover rather than Scheme. Keppel will deliver more shares to shareholders, keeping less.
Stay cautiously positive on Socionext (6526 JP) until the stock starts trading as if those who bought on momentum look like they are getting out.
With investors chucking in the towel and the HSI touching a thirteen-year low, it’s time for some old-school perspective applying Benjamin Graham’s Net Nets

Nitro’s Carrot-And-Stick A$1.80 Takeover Offer from Potentia

Nitro Software Ltd (NTO AU) entered a trading halt in response to Potentia’s off-market takeover offer of A$1.80 per share, a 13.9% premium to its previous rejected offer of A$1.58.
Potentia will block rival schemes and not accept competing takeover offers. This move will make it hard for the Board to convince a rival bidder to table an offer.
Potentia wants a friendly offer and placed majority Board support as a condition. The offer is unattractive but Potentia has hinted at improved terms if provided due diligence access.

Pushpay Enters a SID with Sixth Street/BGH at NZ$1.34

Pushpay Holdings (PPH NZ) entered a scheme implementation deed (SID) with Sixth Street/BGH at NZ$1.34 per share, a 30.1% premium to the undisturbed price (12.6% premium to the last close).
The key conditions are shareholder and regulatory (OIO & US antitrust) approvals. The scheme meeting is in 1Q23.
The offer is light. A concentrated shareholder register and signs of retail opposition are risks. A 75% deal probability, implies buying up to NZ$1.27 per share.

KOSDAQ150 Ad Hoc Index Rebalance: LX Semicon OUT, Nextin IN

Following its planned section transfer, LX Semicon (108320 KS) will be deleted from the KOSDAQ 150 Index at the close on 2 November and replaced by Nextin (348210 KS).
Passive trackers will need to buy over 4.5 days of ADV on Nextin (348210 KS) and sell over 1.5 days of ADV on LX Semicon (108320 KS).
Belonging to the Information Technology sector, there is zero chance of LX Semicon (108320 KS) being added to the Korea Stock Exchange Kospi 200 Index (KOSPI2 INDEX).

(Mostly) Asia-Pac Weekly Risk Arb Wrap: ELMO, Kingston Financial, Hitachi Transport, Nearmap, Aruhi

There are 45 – mostly firm, mostly Asia-Pac – transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Three new deals discussed on Smartkarma this week: K1’s Offer for Elmo Software (ELO AU), Chu’s Offer for Kingston Financial (1031 HK), KKR’s tilt for Hitachi Transport System (9086 JP).
Key updates took place for Nearmap Ltd (NEA AU), Jinke Smart Services (9666 HK), Lifestyle International Holdings (1212 HK), and Aruhi Corp (7198 JP).

Hong Kong CEO & Director Dealings: 28th Oct: Haichang Ocean Park, CC Land, GBA

The data in this insight is collated from the “shareholding disclosure” link on the HKEx website.
Often there is a corresponding HKEx announcement on the increase – or decrease – in the shareholding by directors. However, such disclosures are by no means an absolute.
These insights may flag those companies where shares have been pledged. Stocks mentioned include Haichang Ocean Park Holdings (2255 HK), C C Land (1224 HK), and GBA Holdings (261 HK).

Pushpay: BGH/Sixth Street Keep The Faith With $1.34/Share Tilt

Church donor management tech play Pushpay (PPH NZ) has been fielding expressions of interest since April. Earlier this month, Pushpay announced it had received another proposal, reportedly from BGH/Sixth Street.
On the 28 October, Puspay announced it had entered into a Scheme Implementation Agreement at NZ$1.34/share with BGH/Sixth Street, which collectively hold 20.34%. This is a 30.1% premium to undisturbed.
The offer is subject to shareholder and regulatory approval, with a possible completion date in early 2Q23.

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Oct 30

Daily Brief Thematic (Sector/Industry): SEA EConomy – A Squall in 2022 with Rough Seas Ahead and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

SEA EConomy – A Squall in 2022 with Rough Seas Ahead
GEM Weekly (28 Oct 2022): China GDP, Retail Sales, South Korea GDP; SK Hynix, Flipkart
China Healthcare Weekly (Oct28)-OK Lens VBP, Time Required for Biotech to Make Profit, World Changes
Japan’s Consumer Electronics Retailers Face Tough Outlook

SEA EConomy – A Squall in 2022 with Rough Seas Ahead

By Angus Mackintosh

Google, Temasek, and Bain&Co just released their much-anticipated eConomy SEA 2022 report outlining recent trends and future expectations for South-East Asia’s digital economy.
No doubt post-pandemic growth has been tapering but the long-term growth story remains intact. The key focus has switched to the path to profitability versus headline growth.
Major digital players in South-East Asia will release 3Q results next month with all eyes focused on take rates, contribution margins, and Adjusted EBITDA margins rather than headline growth.

GEM Weekly (28 Oct 2022): China GDP, Retail Sales, South Korea GDP; SK Hynix, Flipkart

By Wium Malan, CFA

The Global Emerging Markets weekly provides a summary of the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.
Macro data points: Chinese GDP, industrial production, retail sales, exports; South Korean GDP
Companies mentioned:SK Hynix (000660 KS), Flipkart Online Services (1398508D IN), Walmart (WMT US)

China Healthcare Weekly (Oct28)-OK Lens VBP, Time Required for Biotech to Make Profit, World Changes

By Xinyao (Criss) Wang

After the centralized procurement in Hebei Province included OK lens, products with high gross margin and low market penetration rate seem to be the new trend of centralized procurement.
Although the current valuation of healthcare industry is relatively low compared with historical levels, that comparison is of little significance due to the fast pace of change.
In terms of when domestic biotech companies could achieve break-even, there is some logic actually. Investors can estimate the time for biotechs to achieve profitability.

Japan’s Consumer Electronics Retailers Face Tough Outlook

By Michael Causton

Consumer electronics retailers and producers benefited a lot from the pandemic, supplying customers stuck at home with kit for work and play.
The Olympics also encouraged people to update their TVs and entertainment systems.
Now, sales are falling to pre-2020 levels due to saturation. Inflationary pressures also mean more people are turning to second-hand options or simply not replacing old appliances at all.

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Oct 30

Daily Brief Equity Bottom-Up: BFI Finance Indonesia (BFIN IJ) – Multi-Finance Masterpiece and more

By Smartkarma Daily Briefs | Daily Briefs, Equity Bottom-Up

In today’s briefing:

BFI Finance Indonesia (BFIN IJ) – Multi-Finance Masterpiece
Nanya Tech: SK Hynix & Samsung Results Supportive for Memory Chip Industry 2023E Outlook
Suzuki (7269 JT) | Way Too Cheap Ahead of 2Q Earnings – India’s Maruti (MSIL IN) Shows the Way
AbbVie (ABBV US): Q3 Sales Miss as Humira OUS Declines; 2022 Guidance Narrowed; Dividend Raised

BFI Finance Indonesia (BFIN IJ) – Multi-Finance Masterpiece

By Angus Mackintosh

BFI Finance Indonesia (BFIN IJ) released a strong set of 3Q2022 results with record quarterly bookings and total receivables almost back to pre-pandemic levels with NPFs at less than 1%.
Growth has been driven by non-dealer used car financing with new growth coming from both heavy equipment financing and leasing plus strong growth from used-car aggregators such as Moladin.
BFI Finance Indonesia (BFIN IJ) has one of the lowest cost of funds of any multi-finance company in Indonesia underpinning growth. Valuations are attractive in 2.0x PBV with 21% ROE.

Nanya Tech: SK Hynix & Samsung Results Supportive for Memory Chip Industry 2023E Outlook

By Vincent Fernando, CFA

SK Hynix and Samsung both released their latest earnings last week. The companies are the leading players for Nanya Tech’s memory chip industry.
SK Hynix’s latest gross margin performance confirms Nanya Tech performing in-line with the industry leaders.
Guidance from both SK Hynix and Samsung indicates a likely improvement in supply/demand dynamics in 2023E for the memory chip space.

Suzuki (7269 JT) | Way Too Cheap Ahead of 2Q Earnings – India’s Maruti (MSIL IN) Shows the Way

By Mark Chadwick

Maruti Suzuki reported above Consensus 2Q driven by strong volumes and improved margins
Earnings bode well for Suzuki’s 2Q earnings on Nov 8. Also, Maruti indicated significant easing of semi-driven supply constraints. Positive readacross for Suzuki.
Suzuki’s ex-Maruti operations are now cheaper than ever at under 2.5x PER. We see upside to earnings vs. Consensus and keep our bullish stance on the stock.

AbbVie (ABBV US): Q3 Sales Miss as Humira OUS Declines; 2022 Guidance Narrowed; Dividend Raised

By Tina Banerjee

Abbvie Inc (ABBV US) reported Q3 revenue of $14.8 billion, an increase of 5% y/y operationally, mainly driven by a 16% y/y operational growth in immunology portfolio.
While Humira revenue increased 7% y/y in the U.S. to $5 billion, internationally Humira revenue declined 26% y/y to $603 million due to biosimilar competition.
While management reiterated mid-point of 2022 adjusted EPS guidance range, they have narrowed the range to $13.84–13.88 from $13.76–13.96. 2022 revenue guidance has been slightly lowered to $58.2 billion.

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Oct 30

Most Read: Sembcorp Marine, Shandong Fengxiang, Softbank Group, SBI Holdings, Hyundai Elevator Co, iShares MSCI EAFE ETF, Monadelphous, Suzuki Motor and more

By Smartkarma Daily Briefs | Daily Briefs, Most Read

In today’s briefing:

Sembcorp Marine & Keppel O&M: Revised Terms & Index Implications
How Bad Is Today’s Chip Collapse?
Fengxiang’s Unconditional MGO at HK$ 1.5132 from PAG
Softbank Group (9984 JP) – Defying Gravity into 4Q 2022
JPX-Nikkei 400 Rebal 2023: End-Oct 2022
SEA EConomy – A Squall in 2022 with Rough Seas Ahead
Hyundai Elevator: Announces a Major Share Buyback Program
Bear Market Rally in Progress as DXY, Global Sovereign 10-Yr Yields Fall; Buy Ideas Within Leaders
Index Rebalance & ETF Flow Recap: S&P/ASX, STAR50, CSI300, SSE50, IDX, GOTO, SMM/KEP
Suzuki (7269 JT) | Way Too Cheap Ahead of 2Q Earnings – India’s Maruti (MSIL IN) Shows the Way

Sembcorp Marine & Keppel O&M: Revised Terms & Index Implications

Sembcorp Marine (SMM SP) will now acquire Keppel O&M from Keppel Corp (KEP SP) at an 8% lower consideration at a revised exchange ratio of 46:54 vs 44:56 earlier.
The simplified transaction structure is expected to reduce consent and approval requirements and could reduce completion time by up to 2 months. Expected completion now is December or Jan.
At a proforma market cap of S$7bn, there could be selling in Sembcorp Marine from MSCI Singapore and FTSE Straits Times Index (STI) (STI INDEX) trackers at the time of implementation.

How Bad Is Today’s Chip Collapse?

By Jim Handy

Semiconductor collapses like today’s are led by memory chips, which are a commodity
The leading memory manufacturers: Samsung, SK hynix, Micron, and WDC, have announced their 3Q22 earnings, with only Kioxia remaining. All have suffered substantial revenue declines.
Memory prices are dropping to cost, and should remain at cost until demand catches back up with supply in late 2023

Fengxiang’s Unconditional MGO at HK$ 1.5132 from PAG

PAG is the successful bidder for Shandong Fengxiang (9977 HK)‘s controlling shareholder’s 70.92% stake at HK$1.5132 per H Share (RMB1.3822 per domestic share).
As PAG has no compulsory acquisition rights, it will also seek shareholder delisting approval. The MGO is not conditional on the approval of the delisting resolution.
The share sale transfer requires SAMR approval which will be forthcoming. Our best guess is the MGO completes end-January 2023. At the last close, the gross spread is 14.6%.

Softbank Group (9984 JP) – Defying Gravity into 4Q 2022

By Victor Galliano

Softbank Group’s share price has been supported by the share buyback programme since late September, but 2Q FY2022 results are likely act as a negative catalyst for Softbank shares
Alibaba and its core listed holdings in the Vision Funds have seen market values go lower in recent months; see the diverging market price chart trends in this report
In addition, valuations among the unlisted holdings are also under pressure into October, so 2Q results may not capture the full extent of the down rounds

JPX-Nikkei 400 Rebal 2023: End-Oct 2022

By Janaghan Jeyakumar, CFA

JPX-Nikkei 400 is composed of common stocks listed on the Tokyo Stock Exchange. It is a free-float-adjusted market-value-weighted (capped) index composed of 400 constituents.
A periodic review is conducted by the Index providers, the JPX Group and Nikkei Inc, in August every year. We look at the potential forward inclusions and removals every month.
Below is a look at potential Inclusions and Removals for the JPX-Nikkei 400 Rebalance to come in August 2023 based on trading data as of end-October 2022.

SEA EConomy – A Squall in 2022 with Rough Seas Ahead

By Angus Mackintosh

Google, Temasek, and Bain&Co just released their much-anticipated eConomy SEA 2022 report outlining recent trends and future expectations for South-East Asia’s digital economy.
No doubt post-pandemic growth has been tapering but the long-term growth story remains intact. The key focus has switched to the path to profitability versus headline growth.
Major digital players in South-East Asia will release 3Q results next month with all eyes focused on take rates, contribution margins, and Adjusted EBITDA margins rather than headline growth.

Hyundai Elevator: Announces a Major Share Buyback Program

By Douglas Kim

On 28 October, Hyundai Elevator Co (017800 KS) announced a major share buyback program worth 2.1 million shares, representing 5.1% of outstanding shares or about 50 billion won.
Hyundai Elevator Co Ltd makes excellent elevators and it is the number one player in the elevator industry in Korea with a 41% market share as of 2Q 2022.
Despite the company’s valuations trading at lower levels than its recent historical levels, the negative factors impacting the company are much bigger in scale than the share buyback program.

Bear Market Rally in Progress as DXY, Global Sovereign 10-Yr Yields Fall; Buy Ideas Within Leaders

By Joe Jasper

We continue to believe that a bearish intermediate-term outlook is appropriate as long as the YTD downtrends remain intact on MSCI ACWI (ACWI-US), MSCI ACWI ex-US (ACWX-US), and EAFE (EFA-US).
We would turn bullish only on reversals of those downtrends. With that said, a bear market rally has officially begun, something that we have discussed since our Sept.29 Int’l Compass
We expect to see rallies to their respective YTD downtrends (ACWX, EFA, etc.). We highlight buys that are likely to outperform on this bear market rally.

Index Rebalance & ETF Flow Recap: S&P/ASX, STAR50, CSI300, SSE50, IDX, GOTO, SMM/KEP

The review period for the MSCI Nov SAIR, Kospi 200 Index, KOSDAQ 150 Index, S&P BSE SENSEX Index and a bunch of mainland China indices ends on 31 October.
The minor rebalancing of the IDX30, LQ45 and IDX80 indices takes place at the close on 31 October, while the KOSDAQ 150 Index ad hoc rebalance is on 2 November.
There were outflows from IShares Core MSCI Asia Ex Japan ETF (3010 HK) and inflows to Tracker Fund (2800 HK) and Hang Seng H Share Index ETF (2828 HK).

Suzuki (7269 JT) | Way Too Cheap Ahead of 2Q Earnings – India’s Maruti (MSIL IN) Shows the Way

By Mark Chadwick

Maruti Suzuki reported above Consensus 2Q driven by strong volumes and improved margins
Earnings bode well for Suzuki’s 2Q earnings on Nov 8. Also, Maruti indicated significant easing of semi-driven supply constraints. Positive readacross for Suzuki.
Suzuki’s ex-Maruti operations are now cheaper than ever at under 2.5x PER. We see upside to earnings vs. Consensus and keep our bullish stance on the stock.

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Oct 29

Daily Brief Energy/Materials: Lygend Resources & Technology, Tianqi Lithium, Rio Tinto PLC and more

By Smartkarma Daily Briefs | Daily Briefs, Energy & Materials Sector

In today’s briefing:

Lygend Resources & Technology Pre-IPO – Resting Its Hopes and Dreams on a JV with a Singular Partner
Shanghai/Shenzhen Northbound Connect: Weekly Moves (28 October 2022)
Rio Tinto ADR: Initiation of Coverage – Business Strategy

Lygend Resources & Technology Pre-IPO – Resting Its Hopes and Dreams on a JV with a Singular Partner

By Clarence Chu

Lygend Resources & Technology (LR HK) is looking to raise about US$800m in its Hong Kong IPO.
Lygend Resources & Technology (Lygend) is a nickel trading and production firm with a portfolio covering multiple areas across the nickel industry value chain.
With the Obi Project expanding the firm’s capacity into the higher margin production segment, Lygend expects sales and profitability to pick up.

Shanghai/Shenzhen Northbound Connect: Weekly Moves (28 October 2022)

Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.
Overall, net outflow over the past week was ~US$2.7bn, split between Shanghai (-US$1.8bn) and Shenzhen (-US$0.9bn).
The largest inflows were into Tianqi Lithium (002466 CH) and Shenzhen Mindray Bio-Medical (300760 CH). The largest outflows were in Kweichow Moutai (600519 CH) and Ping An Insurance (601318 CH).

Rio Tinto ADR: Initiation of Coverage – Business Strategy

By Baptista Research

This is our first report on global metals and mining giant, Rio Tinto.
The company has been witnessing a decent demand for all of its primary commodities as per recent results.
Moreover, the Rio Tinto Safe Production System is still being effectively implemented, and there are now 15 deployments at 11 sites, up from 5 sites at the beginning of the year.

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Oct 29

Daily Brief TMT/Internet: Tencent, Softbank Group, Intel Corp, Micron Technology, BlackBerry Ltd and more

By Smartkarma Daily Briefs | Daily Briefs, TMT/Internet

In today’s briefing:

Shanghai/Shenzhen Southbound Connect: Weekly Moves (28 October 2022)
Softbank Group (9984 JP) – Defying Gravity into 4Q 2022
Intel 3Q22: Still Too Optimistic
Micron Technology: The New York Mega Fab & Other Drivers
BlackBerry Ltd: Major Drivers

Shanghai/Shenzhen Southbound Connect: Weekly Moves (28 October 2022)