Share this page!

Smartkarma Profile picture
Twitter logo
14 Apr, 4 tweets, 2 min read
A new article from Bloomberg with input from two different analysts who publish on Smartkarma (Mio Kato and @travislundyasia).

Both have also separately published updates today.
Travis has added...

smartkarma.com/insights/toshi…
And Mio wrote...

smartkarma.com/insights/toshi…
Smartkarma's expert independent analysts have been all over the Toshiba situation - like a cheap suit. For years. (It's a pretty durable cheap suit).

If you invest in Japan special situations, come take a look!

smartkarma.com/home/professio…

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Smartkarma

Smartkarma Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @smartkarma

Smartkarma Profile picture
15 Apr
GRAB / ALTIMETER $AGC
The positives are well known and enormous respect to Anthony and Hooi Ling for creating an ASEAN behemoth. Nevertheless, here's some of the less obvious, but key points to note on this $40b deal. (1/n)
1. Control: Anthony Tan will continue to control the company with 60.4% of the voting rights, despite owning just 1.1@ of ordinary shares. sec.report/Document/00011… pg 48 Image
Disclosure (thus far): The company hasn't released all the financial details, instead it has put up a dressy deck with 2021-23 projections. So not that much to chew on. Still...
Read 12 tweets
Smartkarma Profile picture
13 Apr
💡 IDEAL $KBANK.TB - consensus Thai O/W, seen as a digital aspirant. However, Brian spots two flies in the ointment. Stock has doubled from 2020 lows, so this is worth noting.
(1/n)
1. foreign line highly likely deletion from MSCI at upcoming MAY SAR - Deletion of the foreign line would require passive funds to sell 87m shares...
2. There is also a possibility of a reduction in the Foreign Inclusion Factor (FIF) on the Non Voting Depository Receipt (NVDR) line if the foreign room stays below 15% on the price cutoff date. This would necessitate selling of around 22m shares.
Read 6 tweets
Smartkarma Profile picture
12 Apr
BABA: opens +9% and continuing to trade VERY strong in HK today. Market realising pendulum swung too far, and starting to fade the risk premia here. (Chart: BABA vs TENCENT intraday)
Putting things into perspective: since November, Media frenzy and Investor panic wiped $260bn in value.
Meanwhile, 4Q was historic high Q-rev growth +37% Y/Y, historic high core commerce EBITDA, and historic high quarterly op profit. Clodu turned profitable, and Cainiao positive OCF also.
Read 6 tweets
Smartkarma Profile picture
11 Apr
Thai IPO raising $750m: Ngern Tid Lor (NTL) jointly owned by CVC and Bank of Ayudhya (BAY TB) with 16pc market share.
Impressive track record: 2016-20, gross l25.1% CAGR, total income 22.5% CAGR, while PAT did better with a CAGR of 29.1% over 2016-20.
Gets better: 2010-20, its total income has increased by 12.6x, branch network by 6x and receivables by 18x. That implies a CAGR of 28.9% for total income, 19.6% for branches and 33.5% for receivables.
Read 6 tweets
Smartkarma Profile picture
5 Apr
$TME major breakout in bullish sentiment on @smartkarma - independent research loves an opportunity when it sees one. (1/n)
Share price remained subdued into end of week - last dregs of the Archegoa spillover.
Conviction investors like @KerrisdaleCap have started to pickup stock.
Read 8 tweets
Smartkarma Profile picture
31 Mar
We are seeing growing Enquiries from EM investors looking to switch at least part of their EM Asia exposure into an Asia ex-China benchmark.
iShares MSCI Asia ex China AUM has doubled in just a couple of months. In the grand scheme still small at $420m but is this a coincidence this coincides with recent Geopolitical tension?
The impact on EM Asia ex China country weights is absolutely enormous. TWN and KOR could go beyond 30pc while India post 20pc.
Read 6 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @smartkarma has new unrolls!

Check out other threads from @smartkarma!

Read all threads by @smartkarma