ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Thematic (Sector/Industry)

This week has been a tough one for the people of Jakarta, as the outgoing Governor was handed an extremely dubious sentence of two years in jail, on an even more dubious trumped up charge of blasphemy. According to some interesting post-election analysis, Ahok lost squarely because of this case. A large number of voters, who approved of the great work he had done in Jakarta, moved to vote against him due to the religious angle (as well as some intimidation it seems).Even though President Jokowi…

This week has been a tough one for the people of Jakarta, as the outgoing Governor was handed an extremely dubious sentence of two years in jail, on an even more dubious trumped up charge of blasphemy. According to some interesting post-election analysis, Ahok lost squarely because of this case. A large number of voters, who approved of the great work he had done in Jakarta, moved to vote against him due to the religious angle (as well as some intimidation it seems).Even though President Jokowi…

The Week that Was in ASEAN@Smartkarma - Ghostowns, Thaksinites and Casinos

Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

Riedel Research

Riedel provides equity research and analysis to leading financial organizations. By becoming members of a region (Asia, Latin America, Emerging Europe or Global), organizations have access to an integrated set of services including:

Regular company coverage reports
Up-to-date investment decision advice (buy, hold, sell)
Monthly regional and global conference calls
Customized company reports and unlimited on-line access to the program's services.

Riedel provides research coverage of companies across the full range of market capitalization. Experienced research professionals in each market develop company reports and analysis as well as earnings models and projections. Ratings are Buy, Hold and Sell with a focus on compelling investment ideas - both long and short. Downloadable, dynamic earnings models are built to facilitate sensitivity analysis.

Please feel free to contact us for complimentary access to our written research.  We want to show you that our unique research flow can add value and help develop a long-term, high value-add relationship.

Riedel's model focuses on providing clients with unique insights and consulting in addition to unlimited access to all produced research This model allows members to receive exponential benefits for their retainer fees.

Equity Bottom-Up

Petronas Chemicals Group / Equity Bottom-Up

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Rising Malaysian exports, quickening GDP expansion, recovery in corporate earnings and a depressed MYR are spurring foreign interest in Malaysian equities
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World economic growth is set to improve to 3.4 - 3.5% this year from 3.1% in 2016. A rising growth outlook in developed markets could drive strength in EM investing.
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In April, the RHB economists upgraded Malaysia’s 2017 GDP growth forecast to 4.5% (2016: +4.2%) and export growth to 3.9% (2016: +0.1%).
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The latest data points for March 2017 show…</li>
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Rising Malaysian exports, quickening GDP expansion, recovery in corporate earnings and a depressed MYR are spurring foreign interest in Malaysian equities


World economic growth is set to improve to 3.4 - 3.5% this year from 3.1% in 2016. A rising growth outlook in developed markets could drive strength in EM investing.


In April, the RHB economists upgraded Malaysia’s 2017 GDP growth forecast to 4.5% (2016: +4.2%) and export growth to 3.9% (2016: +0.1%).


The latest data points for March 2017 show…


Actionable Opportunities in Malaysia as Fundamentals Improve

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

Our view remains that the Malaysian incumbent wireless operators continue to look overvalued. Service revenues fell by 3.3% YoY in 4Q16, and it is hard to see where a recovery will come from. Within that decline, <a href="https://www.smartkarma.com/entities/944" target="_blank" data-smartkarma-citation="entities:944:1">Axiata (AXIATA MK)</a> recovered modestly in the quarter but remains -7.5% YoY. <a href="https://www.smartkarma.com/entities/946" target="_blank" data-smartkarma-citation="entities:946:1">Maxis (MAXIS MK)</a> remains the outperformer in a declining market with revenues down just 0.9% YoY. What has impressed has been margins, with the aggregate Ebitda margin up 30bps YoY boosted by Maxis and <a href="https://www.smartkarma.com/entities/945" target="_blank" data-smartkarma-citation="entities:945:1">Digi</a>…

Our view remains that the Malaysian incumbent wireless operators continue to look overvalued. Service revenues fell by 3.3% YoY in 4Q16, and it is hard to see where a recovery will come from. Within that decline, Axiata (AXIATA MK) recovered modestly in the quarter but remains -7.5% YoY. Maxis (MAXIS MK) remains the outperformer in a declining market with revenues down just 0.9% YoY. What has impressed has been margins, with the aggregate Ebitda margin up 30bps YoY boosted by Maxis and Digi…

Malaysian Wireless Operators See Falling Subscriber Numbers & Revenues. Competition Starting to Bite

New Street Research attended this year's Mobile World Congress in Barcelona recently. While the move to 5G will bring huge increases in localized wireless capacity, the transition around 2020 to 5G looks increasingly likely to be smooth for many operators, with little impact on capex or revenue trajectories. 5G does not change the key economics of network densification. Where these are good, 5G will thrive. Where they are poor, 5G deployment will be slower. Only in markets with strong asymmetry…

New Street Research attended this year's Mobile World Congress in Barcelona recently. While the move to 5G will bring huge increases in localized wireless capacity, the transition around 2020 to 5G looks increasingly likely to be smooth for many operators, with little impact on capex or revenue trajectories. 5G does not change the key economics of network densification. Where these are good, 5G will thrive. Where they are poor, 5G deployment will be slower. Only in markets with strong asymmetry…

Report from Mobile World Congress: The Transition to 5G Comes into Focus.

For this week's ASEAN Weekly, created in the midst of Jakarta "Macet", I interviewed Insight Provider and Thai guru <a href="https://www.smartkarma.com/profiles/766" target="_blank" data-smartkarma-citation="accounts:766">Athaporn Arayasantiparb</a> to canvass his views on Thailand and his top picks at the moment. His views on the overall economy suggest there may be too much optimism around on a domestic recovery and higher oil prices may eventually stymie growth for the Thai consumer. He likes selected banks, higher end property developers, energy, construction and tourism. Please read on for a…

For this week's ASEAN Weekly, created in the midst of Jakarta "Macet", I interviewed Insight Provider and Thai guru Athaporn Arayasantiparb to canvass his views on Thailand and his top picks at the moment. His views on the overall economy suggest there may be too much optimism around on a domestic recovery and higher oil prices may eventually stymie growth for the Thai consumer. He likes selected banks, higher end property developers, energy, construction and tourism. Please read on for a…

The Week That Was in ASEAN@Smartkarma (Part 2) - Macet=Traffic Jam

Malaysia

Telekom Malaysia Berhad establishes, provides, and maintains telecommunication and related services. Through its subsidiaries, the Company provides payphone network, mobile telecommunication, public telephone, and leasing of optical fiber telecommunication system services. Telekom also manages and operates Kuala Lumpur Tower and provides intelligent security services.

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Telekom Malaysia (T MK)

The Week that Was in ASEAN@Smartkarma - Ghostowns, Thaksinites and Casinos

This week has been a tough one for the people of Jakarta, as the outgoing Governor was handed an extremely dubious sentence of two years in jail,...

Angus Mackintosh

Actionable Opportunities in Malaysia as Fundamentals Improve

Rising Malaysian exports, quickening GDP expansion, recovery in corporate earnings and a depressed MYR are spurring foreign interest in Malaysian...

David Riedel

Malaysian Wireless Operators See Falling Subscriber Numbers & Revenues. Competition Starting to Bite

Our view remains that the Malaysian incumbent wireless operators continue to look overvalued. Service revenues fell by 3.3% YoY in 4Q16, and it is...

New Street Research

Report from Mobile World Congress: The Transition to 5G Comes into Focus.

New Street Research attended this year's Mobile World Congress in Barcelona recently. While the move to 5G will bring huge increases in localized...

New Street Research

The Week That Was in ASEAN@Smartkarma (Part 2) - Macet=Traffic Jam

For this week's ASEAN Weekly, created in the midst of Jakarta "Macet", I interviewed Insight Provider and Thai guru Athaporn Arayasantiparb to...

Angus Mackintosh

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