Bukalapak: Mitra Won’t Save The Day Any More
At 27.9x FY+2 revenue, Bukalapak has plenty of further downside potential especially considering that that the Mitra business may not grow fast...
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Matahari Department Store (LPPF IJ) - Revamped, Refreshed, and Investable
Matahari Department Store (LPPF IJ) has become investable again with an omnichannel approach and a revamped and refreshed brand portfolio.
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Paytm IPO: More Expensive than Global Payment Giants and SOTP Suggests More Than 40% Discount
With not so conservative assumptions, our SOTP valuation suggests that Paytm's shares are significantly overvalued at the IPO price range. At the...
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The Week That Was in ASEAN@Smartkarma - Indonesia's Rich Media, Mitratel, and Malaysian Banks
The week that was in ASEAN@Smartkarma is filled with another eclectic mix of differentiated, substantive, and actionable insights from across South...
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Kakao Pay IPO Trading - Won't Be Chasing
Kakao Pay, one of South Korea’s largest payment and financial services apps, raised around US$1.3bn in its South Korean IPO. Kakao held a 55% stake...
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