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Smartkarma Daily Briefs

Daily Brief ESG: M&As Due to Restructuring of Business Portfolios Have Finally Begun to Increase and more

By | Daily Briefs, ESG

In today’s briefing:

  • M&As Due to Restructuring of Business Portfolios Have Finally Begun to Increase


M&As Due to Restructuring of Business Portfolios Have Finally Begun to Increase

By Aki Matsumoto

  • Listed subsidiaries and affiliates are now required by the TSE to disclose their basic thoughts on their business portfolio strategy and the rationale for being listed.
  • M&A is expected because Japanese companies have not taken effective steps to expand their corporate value as cash on hand is building up and ROE is sluggish.
  • M&A is likely to be mostly conducted by domestic companies or investment funds as a result of industry restructuring and business portfolio restructuring in Japan.

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Daily Brief Credit: Lucror Analytics – Morning Views Asia and more

By | Credit, Daily Briefs

In today’s briefing:

  • Lucror Analytics – Morning Views Asia


Lucror Analytics – Morning Views Asia

By Leonard Law, CFA

  • In today’s Morning Views publication we comment on developments of the following high yield issuers: Adani Ports, ReNew Energy
  • In the US, January 2025 housing starts fell 9.8% m-o-m (-7.3% e / 16.1% p) to an annualised pace of 1.37 mn units, as builders pulled back on construction after a surge in December 2024. Meanwhile, building permits rose 0.1% (-1.5% e / -0.7% p) in January 2025.

  • The minutes of the US FOMC’s January 28-29th meeting showed that Fed officials expressed readiness to hold the policy rate at a restrictive level, if the economy remains strong and inflation stays elevated.


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Daily Brief ECM: Sotetsu Holdings (9003) – Crossholders Sell Down – Big ADV Multiple and more

By | Daily Briefs, ECM

In today’s briefing:

  • Sotetsu Holdings (9003) – Crossholders Sell Down – Big ADV Multiple, Low Earnings Multiple, Boring
  • Tsumura (4540 JP) Equity Offering – Easy To Swallow, and Not Expensive
  • Sotetsu Placement: Low Valuation and Share Buyback Should Aid Deal Performance
  • PhonePe IPO: Walmart-Backed India Fintech Preps for Listing. A Quick Primer
  • Chifeng Jilong A/H Listing: Riding on the Gold Rush


Sotetsu Holdings (9003) – Crossholders Sell Down – Big ADV Multiple, Low Earnings Multiple, Boring

By Travis Lundy

  • Sotetsu Holdings (9003 JP) today announced a large-ish secondary equity offering – 10% of shares out and 20% of Max Real World Float. 
  • This is crossholders selling down roughly 30% of what they own. Sotetsu announced a buyback for a quarter of the offering over the next six months.
  • The shareholder structure and distribution within Max Real World Float tells you all you need to know.

Tsumura (4540 JP) Equity Offering – Easy To Swallow, and Not Expensive

By Travis Lundy

  • Tsumura & Co (4540 JP) shocked everyone a year ago when they announced an immediate large price hike across the board for its kampo medicines. The stock was +35% immediately.
  • It did not fall back. Now the stock is up 60% from a year ago and earnings are too. It’s still <10x PER. Now we get a ¥10bn secondary offering.
  • It’s 12 days of ADV but not super heavy, and there is a buyback on the back end.

Sotetsu Placement: Low Valuation and Share Buyback Should Aid Deal Performance

By Nicholas Tan

  • A group of shareholders are looking to raise US$135m from selling their respective stakes in Sotetsu Holdings (9003 JP) .
  • While the deal shouldn’t come as a surprise, given the ongoing cross-shareholding unwind narrative in Japan, the timing of such a selldown isn’t always certain.
  • In this note, we will talk about the placement and run the deal through our ECM framework.

PhonePe IPO: Walmart-Backed India Fintech Preps for Listing. A Quick Primer

By Devi Subhakesan

  • Walmart (WMT US) backed Phonepe is gearing up for an IPO in India, according to comments made by Walmart CEO McMillon during Investor call yesterday,
  • Phonepe Pvt Ltd (1732974D IN) , 84% owned by Walmart (WMT US), is one of India’s leading fintech company with its flagship digital payment app.
  • During its last funding round in January 2023, PhonePe raised USD350 million from General Atlantic at a valuation of USD12 billion. 

Chifeng Jilong A/H Listing: Riding on the Gold Rush

By Nicholas Tan

  • Chifeng Jilong Gold Mining (600988 CH), a company owning multiple gold mines across the world, aims to raise around US$500m in its H-share listing.
  • It is principally engaged in the mining, processing and sales of gold.
  • In this note, we look at its past performance and other deal dynamics that might impact the listing.

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Daily Brief Event-Driven: Proto Corp (4298) – Large Active Holders Going Activish-Y and more

By | Daily Briefs, Event-Driven

In today’s briefing:

  • Proto Corp (4298) – Large Active Holders Going Activish-Y
  • CNBM (3323 HK): Whitewash Waiver Secured. Next Is The Proration
  • Proto Corp (4298 JP): Kaname Capital Throws a Spanner in the Works
  • Clarifying Samsung Life’s Position on How Samsung Electronics Structures Its Shareholder Returns
  • Growing Importance of ACT – Korea’s Largest Minority Shareholders Platform
  • Domain Holdings (DHG AU): CoStar Makes an NBIO; Buys 16.9% Stake; Short Covering Today
  • BBVA/Sabadell: Implications of CNMC Decision, How Much Should BBVA Raise?
  • Mayne Pharma (MYX AU): Cosette’s A$7.40/Share Scheme
  • Domain (DHG AU): CoStar’s A$4.20/Share NBIO


Proto Corp (4298) – Large Active Holders Going Activish-Y

By Travis Lundy

  • When the deal was announced, I wrote that the MBO for Proto Corp (4298 JP) was opportunistic and was possibly “vulnerable” to activist attentions (original insight here).
  • On the 17th, one large active holder Ancient Arts LP filed an amendment to their Large Shareholder Filing showing a change in Reason for Investment. 
  • On the 18th of Feb, top independent shareholder Kaname Capital reported an increase in stake and sent Open Letters which appear only now to be circulating. It’s worth a look.

CNBM (3323 HK): Whitewash Waiver Secured. Next Is The Proration

By David Blennerhassett

  • On the 6th December 2024, China National Building Material (3323 HK) (CNBM), China’s leading building materials company, offered to buy back 841,749,304 H-shares at HK$4.03/share, a 15.1% premium to undisturbed.
  • This elevated CNBM’s parent’s stake to 50.01% of total shares from 45.02% currently, necessitating  a whitewash waiver so the parent would not be obliged to make a full blown offer.  
  • Independent H-shareholder overwhelmingly approved the waiver yesterday, the 19th February. Tendering closes on the 5th March. Minimum pro-ration is 19.24%. I’m estimating at least 35%. The Offer is now unconditional.

Proto Corp (4298 JP): Kaname Capital Throws a Spanner in the Works

By Arun George

  • Kaname Capital, the second-largest shareholder of Proto Corp (4298 JP), has issued an open letter stating that the JPY2,100 MBO tender offer is a bad conclusion at the wrong price.
  • Some assertions are valid, while others do not stand up to scrutiny. Kaname claims that Proto is worth JPY3,778, which will make it hard to reach a compromise. 
  • Maintaining terms is increasingly not viable. The Chairman is likely to respond by lowering the minimum acceptance condition and/or bumping to secure the support of minorities (excluding Kaname).

Clarifying Samsung Life’s Position on How Samsung Electronics Structures Its Shareholder Returns

By Sanghyun Park

  • Samsung Life isn’t getting a boost from Samsung Fire, so they need to stay focused on managing equity to maintain their K-ICS ratio.
  • They’ll use capital securities issuance as a quick fix but must also monitor their Samsung Electronics stake, a major asset, to manage the situation effectively.
  • Samsung Electronics will likely focus on dividends over buybacks. Watch for a pair trade setup between common and preferred shares, favoring long positions on preferreds.

Growing Importance of ACT – Korea’s Largest Minority Shareholders Platform

By Douglas Kim

  • In this insight, we discuss about the growing importance of ACT, the largest minority shareholders platform (https://www.act.ag/) in Korea with nearly 100,000 members and market share of more than 50%. 
  • Recently, ACT has been demanding corporate governance improvements on the following companies: E-Mart, DB Hitek, Lotte Shopping, Youlchon Chem, Hanmi Science, and Solu-M. 
  • ACT has played an important role in the recent shareholder return polices announced by E-Mart which announced a sharply higher total shareholder return policy including higher dividends and share cancellations.

Domain Holdings (DHG AU): CoStar Makes an NBIO; Buys 16.9% Stake; Short Covering Today

By Brian Freitas


BBVA/Sabadell: Implications of CNMC Decision, How Much Should BBVA Raise?

By Jesus Rodriguez Aguilar

  • The CNMC’s provisional report requires BBVA to extend commitments to SMEs for three years instead of 18 months, a condition seen as manageable but opposed by Sabadell’s leadership.
  • BBVA’s exchange offer for Sabadell values its shares at €2.37, below the market price of €2.504, implying a 5.3% shortfall, increasing pressure for BBVA to improve its bid.
  • The Spanish government opposes the takeover, and political intervention, regulatory hurdles, and a history of failed hostile bank takeovers in Europe could significantly impact the deal’s success.

Mayne Pharma (MYX AU): Cosette’s A$7.40/Share Scheme

By David Blennerhassett

  • Mayne Pharma (MYX AU), a leader in dermatology and women’s health, has entered into a Scheme Implementation Deed with US-based pharmaceutical outfit, Cosette Pharmaceuticals.
  • Cosette is offering A$7.40/share, a 37% premium to last close. Apart from Mayne’s shareholder approval, the Offer requires FIRB signing off. 
  • The Offer also has the backing of Mayne’s two largest shareholder, Viburnum and Bruce Mathieson, collectively holding 14.1%. Implementation is expected late May, early June 2025. This is done.

Domain (DHG AU): CoStar’s A$4.20/Share NBIO

By David Blennerhassett

  • Domain Holdings Australia (DHG AU), Australia’s  number two player in the online real estate market, has announced a non-binding proposal, by way of a Scheme, from CoStar Group (CSGP US).
  • CoStar is offering A$4.20/share, in cash. A A$0.02/share dividend declared on the 13th Feb will be added (but now ex). CoStar also acquired 16.9% of shares out, also at A$4.20/share.
  • Domain is 60% owned by Nine Entertainment Co Holdings (NEC AU), and has been known to be scoping out a buyer. A firm offer will require FIRB to sign off.

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Daily Brief Equity Bottom-Up: Alibaba (BABA): 3Q25 and more

By | Daily Briefs, Equity Bottom-Up

In today’s briefing:

  • Alibaba (BABA): 3Q25, Main Business Growth Close to Double Digits
  • Taiwan Dual-Listings Monitor: TSMC Premium Eases Down; Massive Change in UMC Headroom
  • BUY/SELL/HOLD: Hong Kong Stock Update (February 20)
  • Alibaba’s C4Q24 Result Says the Inflection Point of Chinese AI Has Arrived for the Capital Markets
  • Amazon.com Inc – Amazon’s AI Billions, Store Struggles, & The Risks No One Is Talking About!
  • Softbank (9984) Is Trading Cheap, And That Could Be An Opportunity
  • Kalyan Jewellers (KALYANKJ IN) | FOCO Model Warrants Attention
  • China Could Lift Ban on Korean Popular Culture (Hallyu) As Early As May 2025
  • Adani Energy Solutions Limited Q3 FY25 Update
  • Tech Supply Chain Tracker (21-Feb-2025): Honda-Nissan merger drama as Renault strengthens ties.


Alibaba (BABA): 3Q25, Main Business Growth Close to Double Digits

By Ming Lu

  • Total revenue growth rate continued to rise in 3Q25 ending March 2025.
  • Also, the growth rate of the largest business line, customer management, was close to double digits.
  • The upside for the next twelve months was narrowed to 18%, as Alibaba’s stock surged after our preview note.

Taiwan Dual-Listings Monitor: TSMC Premium Eases Down; Massive Change in UMC Headroom

By Vincent Fernando, CFA

  • TSMC: +22.2% Premium; Wait for Higher Level Before Fresh Short of Spread
  • UMC: 0% Premium (Parity) — Massive Increase in ADR Headroom
  • ChipMOS: +0.5% Premium; Wait for More Extreme Levels; Earnings Ahead

BUY/SELL/HOLD: Hong Kong Stock Update (February 20)

By David Mudd

  • Hong Kong’s secular bull market continues this year with record buying from mainland investors through the Southbound Connect platform.
  • AAC Technologies Holdings (2018 HK) announced a positive profit alert of of 150% increase in profit for 2024.  The AI, phone and auto segments saw value content increases.
  • Hua Hong Semiconductor (1347 HK) is well-positioned to cater to China’s increasing demand for locally designed and produced chips, especially in the EV, smart home appliances and wearables industries.

Alibaba’s C4Q24 Result Says the Inflection Point of Chinese AI Has Arrived for the Capital Markets

By Ying Pan

  • After rallying ~50% from its lows, Alibaba rallied another ~10% after reporting in-line result, despite saying it would spend more capex in the next 3 years than the previous 10; 
  • Behind this performance is a sudden clarification of AI’s monetization future in China. Alibaba’s vision certainly has itself at the center of beneficiary, but a few other readings also exist;
  • Alibaba suggested that partial replacement of human worker is possible in a platform with structured workflow, allowing AI users to reap benefits earlier than we have anticipated. 

Amazon.com Inc – Amazon’s AI Billions, Store Struggles, & The Risks No One Is Talking About!

By Baptista Research

  • Amazon.com reported a strong fourth quarter for 2024, with a revenue of $187.8 billion, reflecting a year-over year growth of 10%.
  • Notably, this growth was primarily driven by the company’s strategic focus on expanding its product selection, competitive pricing, and enhanced delivery services, which significantly boosted customer engagement and unit sales, especially in the North American and International segments.
  • The company’s operating income also saw a substantial improvement, reaching $21.2 billion, marking a 61% increase from the previous year, further supported by effective cost management and productivity improvements throughout its distribution network.

Softbank (9984) Is Trading Cheap, And That Could Be An Opportunity

By Finimize Research

  • Softbank’s investment in Arm, valued at around USD 148 billion, is its new NAV driver, after its 300% rally post its IPO.
  • Despite an ongoing share buyback and an LTV near 12.9%, Softbank is still trading around a 59% discount to its net asset value. 
  • Softbank looks like a good proxy for investing in Arm and being long Softbank and Short Arm looks like reasonable risk/reward at current levels. 

Kalyan Jewellers (KALYANKJ IN) | FOCO Model Warrants Attention

By Pranav Bhavsar

  • We believe Kalyan Jewellers (KALYANKJ IN) ‘s FOCO (Franchise Owned, Company Operated) model warrants deeper attention
  • Our casual checks question the company’s store expansion narrative vs on ground reality. 
  • Our conversation seems to indicate franchisees are financial partners only.

China Could Lift Ban on Korean Popular Culture (Hallyu) As Early As May 2025

By Douglas Kim

  • One of the big thematic events on the Korean stock market has been the expectation that China could lift ban on Korean popular culture (Hallyu) as early as May 2025. 
  • China’s President Xi recently stated “Cultural exchanges are a valuable part of our bilateral relations [between China and Korea]. We should avoid any problems occurring in handling such matters.”
  • We provide a list of 40 stocks in Korea that could most benefit from the end of lifting ban of Korean popular culture. 

Adani Energy Solutions Limited Q3 FY25 Update

By Sudarshan Bhandari

  • Adani Energy Solutions (ADANIT IN) Q3 FY25 shows 15% revenue growth to Rs. 6,000 crores, an 80% PAT increase, and aggressive capex investments, driven by robust transmission and smart metering initiatives.
  • Strong financial performance, combined with increased capex and operational efficiency in transmission and smart metering, signals enhanced market positioning and long-term growth potential in a supportive energy sector.
  • AESL significantly increases its capex ramp-up by around 3 times driven by unparallel project and operating excellence coupled with robust capital management program. 

Tech Supply Chain Tracker (21-Feb-2025): Honda-Nissan merger drama as Renault strengthens ties.

By Tech Supply Chain Tracker

  • Honda-Nissan merger and Renault-Geely alliance shake up auto industry landscape, causing speculation and uncertainty.
  • AI technology leading to increased demand for edge computing and device upgrades due to affordable costs and improved efficiency.
  • Liquid-cooled fast charging technology set to revolutionize EV charging by 2025, allowing for ultrafast charging speeds. Tesla’s India factory plans criticized by Trump. Grok 3 drives spike in AI server demand.

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Daily Brief Macro: Heartening Rubber Production Figures For Malaysia In 2024 and more

By | Daily Briefs, Macro

In today’s briefing:

  • Heartening Rubber Production Figures For Malaysia In 2024
  • OPEC Keeps Oil Demand Forecasts Steady While the EIA and IEA Raise Outlook for 2025
  • CX Daily: Meituan Hopes Middle East Expansion Will Deliver Growth
  • Here’s What To Expect From S&P 500 Returns Over The Next Decade.
  • Asian Equities: Which Sectors Could Suffer when Indian Domestics Sell?
  • WTR Small-Cap Spotlight Recap – PERFectly Set Up to Reaccelerate Growth


Heartening Rubber Production Figures For Malaysia In 2024

By Vinod Nedumudy

  • Year-on-year increase of 11.06% in NR production in 2024
  • Ivory Coast once again upstages Thailand in imports
  • Seed collection and sales to nurseries turn revenue spinner for smallholders

OPEC Keeps Oil Demand Forecasts Steady While the EIA and IEA Raise Outlook for 2025

By Suhas Reddy

  • OPEC kept its 2025 and 2026 oil demand growth forecasts steady, while EIA and IEA raised their estimates for 2025 by 3% and 4.8%, respectively.
  • EIA sees India leading oil demand growth, with consumption rising 0.3m bpd in 2025 and 2026, while China’s demand is expected to increase by 0.2m bpd over the same period.
  • Among the nine OPEC members with quotas, production fell 107k bpd MoM to 21.23m bpd, just below the 21.24m bpd target. Saudi Arabia led the decline in output.

CX Daily: Meituan Hopes Middle East Expansion Will Deliver Growth

By Caixin Global

  • Meituan / In Depth: Meituan hopes Middle East expansion will deliver growth
  • Central bank /: PBOC’s Pan says reform of IMF quota system ‘critical’
  • Bankruptcy /Interview: time is right for China to fix personal bankruptcy legal omission, expert says

Here’s What To Expect From S&P 500 Returns Over The Next Decade.

By Finimize Research

  • The past decade made investing look easy – 13% returns per year from the S&P 500. But the next ten years are shaping up to be a whole different story.
  • Even if you make some pretty optimistic assumptions, US stocks are likely to return a mere 5% per year, with risks tilted to the downside.
  • Using a structured process, identified scenarios based on the three key forces that drive long-term stock returns: dividend, earnings growth, and changes in valuations.  

Asian Equities: Which Sectors Could Suffer when Indian Domestics Sell?

By Manishi Raychaudhuri

  • Since October, FIIs have sold US$24.2 bn Indian stocks. DIIs have bought US$36bn. The market has been supported by the latter, benefitting from steady SIPs – now at US$3bn monthly.
  • India households’ historical under-ownership of equities and the steady decline in interest rates and returns from property turned domestic investors towards equity. With Indian equities declining steadily, that could change.
  • Looking at DIIs’ sector-wise ownership, we think if domestic MFs are forced to sell, then industrials, consumer discretionary, materials and to a lesser extent, financials could be at risk.

WTR Small-Cap Spotlight Recap – PERFectly Set Up to Reaccelerate Growth

By Water Tower Research

  • Perfect is a software company focused on bringing an omnichannel experience for enterprises and consumers within the broader beauty space.
  • The company has 708 brand clients (up 3% Y/Y) and ~977k subscribers (up 17% Y/Y) as customers.
  • Although top-line growth slowed to ~11% from 16% at IPO in late 2022, Perfect is FCF positive, has more than $160 million in cash, zero debt, and is trading at ~3.4x 2025E revenue.

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Daily Brief Australia: Domain Holdings Australia , Mayne Pharma and more

By | Australia, Daily Briefs

In today’s briefing:

  • Domain Holdings (DHG AU): CoStar Makes an NBIO; Buys 16.9% Stake; Short Covering Today
  • Domain (DHG AU): CoStar’s A$4.20/Share NBIO
  • Mayne Pharma (MYX AU): Cosette’s A$7.40/Share Scheme


Domain Holdings (DHG AU): CoStar Makes an NBIO; Buys 16.9% Stake; Short Covering Today

By Brian Freitas


Domain (DHG AU): CoStar’s A$4.20/Share NBIO

By David Blennerhassett

  • Domain Holdings Australia (DHG AU), Australia’s  number two player in the online real estate market, has announced a non-binding proposal, by way of a Scheme, from CoStar Group (CSGP US).
  • CoStar is offering A$4.20/share, in cash. A A$0.02/share dividend declared on the 13th Feb will be added (but now ex). CoStar also acquired 16.9% of shares out, also at A$4.20/share.
  • Domain is 60% owned by Nine Entertainment Co Holdings (NEC AU), and has been known to be scoping out a buyer. A firm offer will require FIRB to sign off.

Mayne Pharma (MYX AU): Cosette’s A$7.40/Share Scheme

By David Blennerhassett

  • Mayne Pharma (MYX AU), a leader in dermatology and women’s health, has entered into a Scheme Implementation Deed with US-based pharmaceutical outfit, Cosette Pharmaceuticals.
  • Cosette is offering A$7.40/share, a 37% premium to last close. Apart from Mayne’s shareholder approval, the Offer requires FIRB signing off. 
  • The Offer also has the backing of Mayne’s two largest shareholder, Viburnum and Bruce Mathieson, collectively holding 14.1%. Implementation is expected late May, early June 2025. This is done.

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Daily Brief South Korea: Samsung Electronics Pref Shares, E Mart Inc, Jyp Entertainment and more

By | Daily Briefs, South Korea

In today’s briefing:

  • Clarifying Samsung Life’s Position on How Samsung Electronics Structures Its Shareholder Returns
  • Growing Importance of ACT – Korea’s Largest Minority Shareholders Platform
  • China Could Lift Ban on Korean Popular Culture (Hallyu) As Early As May 2025


Clarifying Samsung Life’s Position on How Samsung Electronics Structures Its Shareholder Returns

By Sanghyun Park

  • Samsung Life isn’t getting a boost from Samsung Fire, so they need to stay focused on managing equity to maintain their K-ICS ratio.
  • They’ll use capital securities issuance as a quick fix but must also monitor their Samsung Electronics stake, a major asset, to manage the situation effectively.
  • Samsung Electronics will likely focus on dividends over buybacks. Watch for a pair trade setup between common and preferred shares, favoring long positions on preferreds.

Growing Importance of ACT – Korea’s Largest Minority Shareholders Platform

By Douglas Kim

  • In this insight, we discuss about the growing importance of ACT, the largest minority shareholders platform (https://www.act.ag/) in Korea with nearly 100,000 members and market share of more than 50%. 
  • Recently, ACT has been demanding corporate governance improvements on the following companies: E-Mart, DB Hitek, Lotte Shopping, Youlchon Chem, Hanmi Science, and Solu-M. 
  • ACT has played an important role in the recent shareholder return polices announced by E-Mart which announced a sharply higher total shareholder return policy including higher dividends and share cancellations.

China Could Lift Ban on Korean Popular Culture (Hallyu) As Early As May 2025

By Douglas Kim

  • One of the big thematic events on the Korean stock market has been the expectation that China could lift ban on Korean popular culture (Hallyu) as early as May 2025. 
  • China’s President Xi recently stated “Cultural exchanges are a valuable part of our bilateral relations [between China and Korea]. We should avoid any problems occurring in handling such matters.”
  • We provide a list of 40 stocks in Korea that could most benefit from the end of lifting ban of Korean popular culture. 

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Daily Brief Singapore: SGX Rubber Future TSR20, Boustead Singapore Limited and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Heartening Rubber Production Figures For Malaysia In 2024
  • Boustead Singapore Meeting (BOCS SP)


Heartening Rubber Production Figures For Malaysia In 2024

By Vinod Nedumudy

  • Year-on-year increase of 11.06% in NR production in 2024
  • Ivory Coast once again upstages Thailand in imports
  • Seed collection and sales to nurseries turn revenue spinner for smallholders

Boustead Singapore Meeting (BOCS SP)

By Michael Fritzell

  • I had the great pleasure of meeting with Boustead Singapore’s Chief Investment Officer, Keith Chu, and Head of Investor Relations, Dominic Seow, at their headquarters at the Edward Boustead Centre in Singapore.
  • The meeting was set up by our friends at Smartkarma, whose analysts have covered Boustead Singapore in the past.
  • While the stock price has risen +15% over the past year, it still trades at just 6.8x trailing P/E and 9.4x forward P/E.

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Daily Brief United States: Amazon.com Inc, Mcdonald’s Corp, Eli Lilly & Co, S&P Global , DoorDash , Crude Oil, Gilead Sciences, Marriott International, Etsy Inc, Southern Copper and more

By | Daily Briefs, United States

In today’s briefing:

  • Amazon.com Inc – Amazon’s AI Billions, Store Struggles, & The Risks No One Is Talking About!
  • McDonald’s: $100 Million Recovery Plan & 2,200 New Stores – Can It Bounce Back?
  • Eli Lilly CEO: The Weight-Loss Drug Revolution, AI in Pharma, and Innovation
  • S&P Global: How Data, Indexes, and AI Are Shaping Its Future!
  • DoorDash Inc.: Expansion Into New Verticals & Enhancing Grocery Delivery To Catalyze Growth!
  • OPEC Keeps Oil Demand Forecasts Steady While the EIA and IEA Raise Outlook for 2025
  • Gilead Sciences: Pipeline Progress & Regulatory Milestones As A Pivotal Growth Lever!
  • Marriott International: How It’s Monetizing Loyalty & Direct Bookings!
  • Etsy, Inc. – 4Q Results in Line with Our Fears
  • Southern Copper Corporation: The 6 Most Significant Forces Steering Its Performance into 2025 & Beyond!


Amazon.com Inc – Amazon’s AI Billions, Store Struggles, & The Risks No One Is Talking About!

By Baptista Research

  • Amazon.com reported a strong fourth quarter for 2024, with a revenue of $187.8 billion, reflecting a year-over year growth of 10%.
  • Notably, this growth was primarily driven by the company’s strategic focus on expanding its product selection, competitive pricing, and enhanced delivery services, which significantly boosted customer engagement and unit sales, especially in the North American and International segments.
  • The company’s operating income also saw a substantial improvement, reaching $21.2 billion, marking a 61% increase from the previous year, further supported by effective cost management and productivity improvements throughout its distribution network.

McDonald’s: $100 Million Recovery Plan & 2,200 New Stores – Can It Bounce Back?

By Baptista Research

  • McDonald’s faced a challenging end to 2024, as its U.S. sales and earnings declined, largely due to an E.
  • coli outbreak tied to slivered onions on Quarter Pounders.
  • This food safety crisis affected 104 people across 14 states, leading to 34 hospitalizations and one fatality.

Eli Lilly CEO: The Weight-Loss Drug Revolution, AI in Pharma, and Innovation

By In Good Company with Nicolai Tangen

  • Development of medicine for weight loss and diabetes has evolved over time, with newer drugs like Tirzepatide showing dual actions for weight loss and metabolic benefits
  • These drugs have potential to impact behaviors like smoking, alcohol consumption, and potentially drug addiction, but further studies are needed
  • Blue sky scenario for future impact includes potential for weight management to become a choice rather than an affliction, and reduction in downstream diseases of obesity like cardiovascular risk and kidney disease, which account for a significant portion of healthcare costs

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.


S&P Global: How Data, Indexes, and AI Are Shaping Its Future!

By Baptista Research

  • S&P Global reported a robust 2024, evidenced by revenue growth and improved profitability metrics.
  • The company reported a 15% increase in revenue, excluding the effect of divested Engineering Solutions in 2023.
  • Subscription products grew by 7%.

DoorDash Inc.: Expansion Into New Verticals & Enhancing Grocery Delivery To Catalyze Growth!

By Baptista Research

  • DoorDash’s latest earnings report provides a comprehensive overview of the company’s performance, growth prospects, and strategic initiatives.
  • The company showcased strong performance, with significant contributions from both U.S. and international markets.
  • Despite the financial statements being marked by improvements and challenges, they highlight the key factors influencing the company’s trajectory.

OPEC Keeps Oil Demand Forecasts Steady While the EIA and IEA Raise Outlook for 2025

By Suhas Reddy

  • OPEC kept its 2025 and 2026 oil demand growth forecasts steady, while EIA and IEA raised their estimates for 2025 by 3% and 4.8%, respectively.
  • EIA sees India leading oil demand growth, with consumption rising 0.3m bpd in 2025 and 2026, while China’s demand is expected to increase by 0.2m bpd over the same period.
  • Among the nine OPEC members with quotas, production fell 107k bpd MoM to 21.23m bpd, just below the 21.24m bpd target. Saudi Arabia led the decline in output.

Gilead Sciences: Pipeline Progress & Regulatory Milestones As A Pivotal Growth Lever!

By Baptista Research

  • Gilead Sciences Inc. delivered a strong performance in the fourth quarter and full year 2024, with significant revenue growth driven by its core business areas despite facing some industry-specific and macroeconomic challenges.
  • Positives from the earnings results include a robust increase in product sales, excluding Veklury (remdesivir), demonstrating an 8% year-over-year growth, reaching $26.8 billion.
  • The primary driver was the HIV portfolio, which exceeded expectations with an 8% growth to $19.6 billion for the year, led by the leading HIV treatment, Biktarvy, which saw a 13% increase in sales.

Marriott International: How It’s Monetizing Loyalty & Direct Bookings!

By Baptista Research

  • Marriott International’s fourth-quarter 2024 earnings reflect a strong performance with continued robust demand translating into a worldwide RevPAR increase of 5% for the quarter.
  • Key metrics such as ADR grew by 3% and occupancy improved by over 1 percentage point.
  • The company also achieved significant net rooms growth of 6.8% for the year, driven by strategic partnerships and conversions, which contributed significantly to its success.

Etsy, Inc. – 4Q Results in Line with Our Fears

By Water Tower Research

  • Etsy’s market is likely saturated. In a nutshell, that’s what the 4Q results suggest to us. On the call, the company stated ~75% of its gross merchandise sales (GMS) are from US-based buyers.
  • In the US, and much more so since COVID, awareness of what Etsy brings to the table has been especially high.
  • When we typically see increasing marketing costs, coupled with lower new buyer count and lower reactivated buyers as a percentage of an inactive base, those are signs of a market that is, at the very least, close to saturation, if it is not saturated already. 

Southern Copper Corporation: The 6 Most Significant Forces Steering Its Performance into 2025 & Beyond!

By Baptista Research

  • Southern Copper Corporation’s third-quarter and nine-month results for 2024 reflect a mixed performance with several key highlights and challenges.
  • On the positive side, the company saw a significant boost in sales, production, and profitability.
  • Revenue for the third quarter of 2024 increased to $2.9 billion, a 17% rise from the same period in 2023, mainly driven by a 21% rise in copper sales value and an 8% rise in copper sales volume.

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