In today’s briefing:
- LS Corp: Treasury Share Cancellation of 171 Billion Won
- GRAB Holdings Riding A 19% GMV Surge – Can Its Super App Ecosystem Keep Momentum Alive?
- Eve Energy A/H Listing – One of the Leaders but Growth Has Been Slowing
- UK Index September 2025 Forecast: Greece in F100 & Other New Candidates in F250
- Rolls-Royce’s Civil Aerospace Upgrades Double Engine Lifespan–Is This A Key Catalyst For The Future?
- EMCOR Group: Leveraging Prefabrication Power To Push For High-Value Construction Projects!
- Builders FirstSource Set to Surge if Mortgage Rates Drop – What Else Could Propel Their Future Growth?
- Titan America (TTAM) Six Month Summary: From Steady Debut to a Sluggish Slide
- Oyo Corp (9755 JP): 1H FY12/25 flash update
- Rasa Corporation (3023 JP): Q1 FY03/26 flash update
LS Corp: Treasury Share Cancellation of 171 Billion Won
- On 12 August, LS Corp (006260 KS) announced that it will cancel 1 million treasury shares (171 billion won), representing 3.1% of its outstanding shares.
- This is significant, especially because the company has not cancelled any shares in the past five years. This move signals the company’s willingness to provide greater returns to its shareholders.
- LS plans to increase its dividend by at least 5% annually, to reach dividend payout of at least 30% by 2030.
GRAB Holdings Riding A 19% GMV Surge – Can Its Super App Ecosystem Keep Momentum Alive?
- Grab Holdings’ second-quarter 2025 earnings reflected a mix of strong operational progress and notable challenges, painting a nuanced picture for investors evaluating the company’s prospects.
- The quarter showcased impressive momentum in user engagement, with group Monthly Transacting Users (MTUs) continuing to rise and on-demand Gross Merchandise Value (GMV) posting 21% year-on-year growth in US dollar terms and 18% in constant currency.
- This growth underscores the platform’s increasing utilization and the loyalty of its user base.
Eve Energy A/H Listing – One of the Leaders but Growth Has Been Slowing
- EVE Energy (300014 CH) (EVE), a lithium battery provider, aims to raise around US$1bn in its H-share listing.
- EVE produces lithium batteries which cater to consumer battery, power battery and ESS battery sectors.
- In this note, we look at its past performance and other deal dynamics that might impact the listing.
UK Index September 2025 Forecast: Greece in F100 & Other New Candidates in F250
- Mytilineos Holdings Sa (MYTIL GA) is projected to be added to F100 following its change of incorporation and primary listing from Greece to UK.
- A methodology change in currency trading requirements is expected to result in Partners Group Private Equity (PEY LN) and BioPharma Credit PLC (BPCR LN) entering F250.
- Oakley Capital Investments (OCI LN) is expected to be included in F250 following its listing transfer from AIM to the Main market of the LSE.
Rolls-Royce’s Civil Aerospace Upgrades Double Engine Lifespan–Is This A Key Catalyst For The Future?
- Rolls-Royce Holdings PLC is navigating through a complex landscape with several achievements and challenges highlighted in their recent results presentation.
- The company’s financial performance in the first half of 2025 reflects strong progress across its divisions, underscored by its transformation program designed to make RollsRoyce a more competitive and resilient business.
- On the positive side, Rolls-Royce reported a 50% increase in operating profit to GBP 1.7 billion, driven by significant improvements across Civil Aerospace, Defence, and Power Systems.
EMCOR Group: Leveraging Prefabrication Power To Push For High-Value Construction Projects!
- EMCOR Group reported a robust performance for the second quarter of 2025, marked by significant revenue growth and strong operating margins.
- The company achieved a record $4.3 billion in consolidated revenues, representing a 17.4% increase compared to the same period last year.
- This growth was driven by a combination of organic expansion and strategic acquisitions, notably Miller Electric, which contributed $330.3 million to the overall revenue.
Builders FirstSource Set to Surge if Mortgage Rates Drop – What Else Could Propel Their Future Growth?
- Builders FirstSource operates within a dynamic and challenging market environment in the construction industry.
- In its second quarter of 2025, the company has faced some notable financial and operational challenges, yet also showed resilience and strategic forward-thinking.
- Their performance presentation outlines both areas of strength and concern that potential investors should consider.
Titan America (TTAM) Six Month Summary: From Steady Debut to a Sluggish Slide
- Titan America priced 24 million shares at $16.00 per share and saw an opening print of $16.20.
- TTAM began a slow descent, bottoming at $10.80 in early April—a near 33% loss from its IPO price.
- Value investors found favor in the secular tailwinds of US infrastructure following the IPO roadshow but that support faded as the months wore on.
Oyo Corp (9755 JP): 1H FY12/25 flash update
- In 1H FY12/25, orders were JPY47.3bn (+4.4% YoY), revenue JPY36.8bn (+6.5% YoY), operating profit JPY2.7bn (+14.5% YoY).
- Orders for domestic infrastructure projects rose to JPY19.2bn (+27.7% YoY), revenue JPY13.6bn (+13.4% YoY), operating profit JPY375mn (+120.6% YoY).
- Orders for offshore wind projects declined to JPY20.7bn (-5.3% YoY), revenue JPY15.1bn (+18.7% YoY), operating profit JPY2.7bn (+46.1% YoY).
Rasa Corporation (3023 JP): Q1 FY03/26 flash update
- Revenue increased by 2.7% YoY to JPY5.8bn, with operating profit rising 36.8% YoY to JPY290mn.
- Segment profit for the Environmental Equipment business surged 132.7% YoY, despite a 7.8% YoY revenue decline.
- Construction segment posted a JPY30mn loss due to a 27.0% YoY decrease in large-scale project volume.
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