The Week That Was in ASEAN@Smartkarma - ASSA's Mobility Edge, Alfamart's Convenience, and ITMG.
The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity...
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ITMG: Ex-Dividend, Dividend Yield Compelling at 20% With 33% of the Market Cap in Cash
At current coal prices (NEX 190 USD/ton), the Indonesian coal producer trades on a 20% dividend yield for FY23 assuming a 65% dividend payout...
388 Views
Graftech: Deleveraging Story Moves Out Even Further / Dead Money
Graftech stock isn't as cheap when trading at 11.1x/9.5x FY23e/FY24e. The deleveraging story with the Monterrey incident gets pushed out to the end...
316 Views
ITMG: Coal Softer, Cash ~50% of Mkt Cap, Yield to Remain >20% in 2023
Indo Tambangraya Megah (ITMG IJ) dividend yield at an assumed 150 USD/ton price in FY23e ( FY22 px: 192 USD/ton) is over 20% (FY22 yield 25-28%)...
442 Views
Overview of My Winners and Losers in 2022...And 5 High Conviction Ideas Going into 2023
Our FY22 vintage of High Conviction Ideas had its weakest performance since FY17. We hope for better returns for our commodity-focused FY23 selection.
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