Asia Ex-J Consumer/ Transport analyst

Valerie Law, CFA

Thematic (Sector/Industry)

<ul class=""><li class="">In Part 1 of this series, I compared the user numbers, investors and strategies of Grab, Go-Jek, and Garena(renamed to SEA), specifically focusing on locally-founded companies in Southeast Asia. </li><li>In Part 2, I first discuss the market potential in Southeast Asia, followed by a comparison of these providers' fees, key partners, and market segment focus. Although most mobile/digital payment providers hope to benefit from the 'float' derived from cash collected on their platforms, their other revenue strategies differ somewhat. </li><li>In Part 3, I will present the fees, key partners, and market segment focus of Ant Financial (AliPay), Tencent (WeChat Pay), and PayPal in the region, followed by a discussion of who I think could be the big winners in this region. </li></ul>

In Part 1 of this series, I compared the user numbers, investors and strategies of Grab, Go-Jek, and Garena(renamed to SEA), specifically focusing on locally-founded companies in Southeast Asia. In Part 2, I first discuss the market potential in Southeast Asia, followed by a comparison of these providers' fees, key partners, and market segment focus. Although most mobile/digital payment providers hope to benefit from the 'float' derived from cash collected on their platforms, their other revenue strategies differ somewhat. In Part 3, I will present the fees, key partners, and market segment focus of Ant Financial (AliPay), Tencent (WeChat Pay), and PayPal in the region, followed by a discussion of who I think could be the big winners in this region. 

Grab, Go-Jek, Garena(SEA), Who Will Be the Payment Goliath of Southeast Asia? - Part 2

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

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Singapore Led APAC in YTD, STI Halfway Through Earnings Reports

Differentiated global TMT & Internet Research

New Street Research Insights

New Street Research

Research is provided by our team of experienced analysts. Our work is idea driven, based on independence of thought, sector expertise, and firmly focused on fundamentals and valuation of telecoms and internet names globally. New Street is headquartered in London with offices in New York, Singapore and Australia. 

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
US Healthcare
Japanese Healthcare

We also provide debt research on:
Pan European Telecom Services and Cable

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/412" target="_blank" data-smartkarma-citation="entities:412:1">M1 Ltd (M1 SP)</a> reported 1Q18 results under the new SFRS-15 accounting standards (IFRS-15 is being adopted across the region). And as with other reports subject to the new standards, the year-on-year trends are not comparable. However, restated 1Q17 data reveals healthy growth in both mobile service revenues and in fixed line revenue growth. Mobile service revenue grew 2.6% YoY (+1% including IDD), while fixed line growth was 13.9%.Mobile service revenues were slightly ahead of <a href="https://www.smartkarma.com/profiles/1916" target="_blank" data-smartkarma-citation="accounts:1916">Iain Johnston</a>'s…

M1 Ltd (M1 SP) reported 1Q18 results under the new SFRS-15 accounting standards (IFRS-15 is being adopted across the region). And as with other reports subject to the new standards, the year-on-year trends are not comparable. However, restated 1Q17 data reveals healthy growth in both mobile service revenues and in fixed line revenue growth. Mobile service revenue grew 2.6% YoY (+1% including IDD), while fixed line growth was 13.9%.Mobile service revenues were slightly ahead of Iain Johnston's…

M1 Shows Positive Service Revenue Trends Ahead of TPG's Entry.

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

<a href="https://www.smartkarma.com/entities/323" target="_blank" data-smartkarma-citation="entities:323:1">TPG Telecom Ltd (TPM AU)</a> has provided an update on its Singapore mobile network progress and launched its first mobile plan aimed at the seniors market. While TPG had spent only AUD 30 million on mobile network capital expenditure as at end January 2018, management indicated that it was on target to meet its license requirement to build out a nationwide outdoor service network by the end of 2018. The mobile plan will be targeted at seniors over the age of 65 and will offer free 3 GB of data per…

TPG Telecom Ltd (TPM AU) has provided an update on its Singapore mobile network progress and launched its first mobile plan aimed at the seniors market. While TPG had spent only AUD 30 million on mobile network capital expenditure as at end January 2018, management indicated that it was on target to meet its license requirement to build out a nationwide outdoor service network by the end of 2018. The mobile plan will be targeted at seniors over the age of 65 and will offer free 3 GB of data per…

TPG Announces Aggressive Niche First Singapore Mobile Plan; Network Rollout on Target

Long Term Returns of Temasek’s Major SGX-listed Investments

Singapore

Singapore Telecommunications Limited wireless telecommunication services. The Company offers diverse range of services including fixed, mobile, data, internet, TV,  and digital solutions. Singapore Telecommunications serves customers worldwide.

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Singtel (ST SP)

Grab, Go-Jek, Garena(SEA), Who Will Be the Payment Goliath of Southeast Asia? - Part 2

In Part 1 of this series, I compared the user numbers, investors and strategies of Grab, Go-Jek, and Garena(renamed to SEA), specifically focusing...

Valerie Law, CFA

Singapore Led APAC in YTD, STI Halfway Through Earnings Reports

Singapore Exchange Ltd (SGX)

M1 Shows Positive Service Revenue Trends Ahead of TPG's Entry.

M1 Ltd (M1 SP) reported 1Q18 results under the new SFRS-15 accounting standards (IFRS-15 is being adopted across the region). And as with other...

New Street Research

TPG Announces Aggressive Niche First Singapore Mobile Plan; Network Rollout on Target

TPG Telecom Ltd (TPM AU) has provided an update on its Singapore mobile network progress and launched its first mobile plan aimed at the seniors...

Morningstar, Inc.

Long Term Returns of Temasek’s Major SGX-listed Investments

Singapore Exchange Ltd (SGX)

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