Listed Real Estate Asia, KT Capital Group

Jacob Cheng

Jacob has 7 years of professional buy-side experience in real estate investment and listed equities.  Jacob worked as a portfolio manager/analyst in Global Listed Real Estate team in AMP Capital and Macquarie Asset Management.  Prior to that, Jacob has spent 5 years in APG asset management, in the listed real estate team.  As one of the largest RE funds in Asia, he co-managed EUR6bn investment portfolio with the team with a focus on Hong Kong and China property.  He led the USD200m cornerstone investment in Wanda Commercial Properties IPO (the largest mall operator and developer in China).  Prior to this, Jacob has 3 years of experience in investment banking in Bank of America Merrill Lynch, covering equity, debt and M&A transactions across real estate, consumer& retail and TMT sectors.  Jacob specializes in fundamental bottom up research.  Aside from work, Jacob has a personal interest in spirituality and personal development.  He practiced meditation and has published a book about meaning of life in 2016.

Listed Real Estate Asia

Implication of Deepseek on China Data Centers: Buy GDS and VNET, Not Too Late to Chase the Rally!

GDS: The Leading Data Center Provider in China, Riding the AI Mega Trend – BUY

GDS and VNET – Recent Pullback Provides Entry Opportunity, Long-Term AI Growth Solid and Strong

VNET: A Leader in IDC Market, Transforming from a Traditional Operator to Wholesale Operator

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Equity Bottom-Up

<ul>
<li>We like GDS holdings, a high-beta play on Asia data center market, on the back of strong AI and hyperscale cloud infra growth across Asia</li>
<li>GDS is a high beta play through 3 ways:  flexible capital deployment, high velocity AI growth, as well as diversification</li>
<li>We think AI growth and utilization may surprise on the upside.  Also, establishment of a C-REIT platform will enable asset recycling at a high multiple</li>
</ul>


We like GDS holdings, a high-beta play on Asia data center market, on the back of strong AI and hyperscale cloud infra growth across Asia
GDS is a high beta play through 3 ways:  flexible capital deployment, high velocity AI growth, as well as diversification
We think AI growth and utilization may surprise on the upside.  Also, establishment of a C-REIT platform will enable asset recycling at a high multiple


LONG GDS: A High-Beta Asia Digital Infrastructure DC Operator

GDS Holdings (ADR)

LONG GDS: A High-Beta Asia Digital Infrastructure DC Operator