Daily Brief Thematic (Sector/Industry): Chevron prepares to take on ExxonMobil and more

• Stabroek project in the Atlantic Ocean is a lucrative oil discovery estimated to contain up to $1 trillion worth of oil reserves
• Chevron and ExxonMobil are engaged in a bitter feud over control of the Stabroek project and dominance in the oil industry
• The competition between Exxon and Chevron dates back to the 19th century, with Exxon historically being the larger and more dominant company, but facing challenges in recent years due to climate change concerns and the COVID-19 pandemic.

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• We have conducted an updated review of the STI to identify deep value players.
• We continue to identify the companies that are trading below net cash, net working capital, and net-net Working Capital.
• We identify Sing Investment & Finance (SIF SP), Advanced Holdings (ADV SP), and Koyo International (KOYO SP) as stand out opportunities among the deep value players. 

• Southeast Asia’s e-commerce journey has been nothing short of a rollercoaster,—fast-paced, unpredictable, and full of twists.
• In just over a decade, we’ve seen the rise (and fall) of platforms, dramatic shifts in consumer behavior, and a flood of sellers rushing to capture market share.
• Now, the big question is: What should we expect around the next corner?

• Japanese equities ended the week firmer, with Topix advancing +1%, lifting YTD gains to +11.5%
• Among individual stocks, Sumi Pharma surged +18% and Eisai jumped +13% on strong product news, while Nidec slumped -21% amid continued accounting scandal headlines
• Political risks rising: The LDP will decide next week whether to move forward with an early presidential vote.

• Dry cells production falls by 12.2% in July 2025 YOY
• Zydus, Synthon tie up to launch generic Ozanimod capsules in US
• Drug formulations exports up 27.6% in July 2025 by 17,840.8 tones

• India’s GST 2.0 reform slashes tax rates on essentials, durables, autos, and healthcare while exempting insurance and education.
• The move could accelerate consumption, especially in rural India, but risks straining government revenues and widening fiscal deficits.
• If implemented smoothly, GST 2.0 may drive a multi-sector consumption upcycle, though revenue trade-offs and uneven pass-through pose risks.

• AUCTUS PUBLICATIONS ________________________________________ Pulsar Helium (PLSR LN/CN)C; Target price of £0.95 per share: Very high flow rate at Jetstream #1.
• £3.7 mm equity raise to drill up to 10 wells – Jetstream #1 recorded a peak flow rate exceeding 1.3 mmcf/d of raw gas during a compression-assisted test, with no formation water encountered.
• This represents a ~2.5-fold increase over the flow rate achieved without compression, and is approximately 60–65% higher than the rate recorded during the April 2024 test under comparable conditions.