Equity Analyst, LightStream Research

Oshadhi Kumarasiri

An equity research analyst with over 7 years of experience in multiple sectors. Previously worked for one of the world's largest asset managers with about USD2.5trn in AUM, covering small and micro-cap companies in the consumer sphere across Europe and developed Asia. Also experienced in covering multiple industries including banking, insurance and asset management, retail, tech, telco and REIT.

Equity Analyst

K-Bank Vs. Kakao Bank: A Big Change in New Customers Driven by Cryptos

Toss Bank - Receives Final Govt Approval to Become the 3rd Internet Bank in Korea

Alibaba: Cloud Is on the Offence to Secure Its Dominant Status in APAC Through an $1.0bn Investment

Alibaba Fined RMB 18.2bn: May Not Be The Season Finale of Ma Vs Xi

The Launch of Douyin Pay: A Double Blow for Alibaba

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

Alibaba Group Holding  / Equity Bottom-Up

<p>Just days after <a href="https://www.smartkarma.com/entities/alibaba-group" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba Group (9988 HK)</a> was hit with a record US$2.8bn fine for breaching China’s antitrust regulations, The People's Bank of China announced yesterday that Alibaba affiliate, <a href="https://www.smartkarma.com/entities/ant-group-co-ltd" target="_blank" data-smartkarma-citation="entities:24240:1" rel="noopener">Ant Financial Services Group (6688 HK)</a> has agreed to restructure its business lines and become a financial holding company with regulatory oversight from PBOC and minimum capital requirements.</p><p>The settlement of these two issues signals an end to most of Alibaba’s regulatory overhang that resulted in Alibaba’s underperformance compared to its peers since November 2020. Having said that, we feel Jack Ma Vs Xi saga is nowhere near the end (Last month the government asked Alibaba to dispose its media assets) and Xi and the Communist Party will continue to curtail the power of Chinese tech companies at every chance they get.</p>

Just days after Alibaba Group (9988 HK) was hit with a record US$2.8bn fine for breaching China’s antitrust regulations, The People's Bank of China announced yesterday that Alibaba affiliate, Ant Financial Services Group (6688 HK) has agreed to restructure its business lines and become a financial holding company with regulatory oversight from PBOC and minimum capital requirements.The settlement of these two issues signals an end to most of Alibaba’s regulatory overhang that resulted in Alibaba’s underperformance compared to its peers since November 2020. Having said that, we feel Jack Ma Vs Xi saga is nowhere near the end (Last month the government asked Alibaba to dispose its media assets) and Xi and the Communist Party will continue to curtail the power of Chinese tech companies at every chance they get.

Ant Group Overhaul: Difficult to Rule Out Further Government Interventions