Daily Brief Equity Bottom-Up: Taiwan Dual-Listings Monitor: TSMC Premium Back Below 15%; ASE Short Interest Surging and more

• TSMC: +14.2% Premium; Can Consider Going Long at Current Level
• UMC: +1.8% Premium; The ADR Headroom Has Decreased Yet Again
• ASE: +5.4% Premium; Short Interest Surging for The Local Shares

• CE Info Systems (MapmyIndia) (1052633Z IN) is one of the leading Indian players engaged in advanced digital maps, geospatial software and location-based IoT technologies. It launched its IPO in 2021
• Since its IPO, MAPPLS has embarked on a growth journey since then. It also boasts high margins & ROCE due to its asset light model.
• While the balance sheet looks good, one might have to check on the speedy receivables and trend of commission expenses.

• ValueAct Capital took a significant 5.9% stake in Sanwa. Dalton Investments has also been a shareholder, but had most recently sold down to under 5% in June
• Sanwa Holdings (5929 JP)  presents an attractive investment opportunity rooted in its strong global market position, undervalued stock price, and growth potential
• We see 30% upside, based off historical revenue growth, 11% EBIT margins, and an exit multiple of 12.5x (global peers).

• The company is headquartered in Singapore and listed under the ticker $TCU.SI

• As the name implies, CBA is a credit bureau business that operates across Asia.

• It currently has operations in Singapore, Malaysia, Cambodia, and Myanmar, with plans to expand in China and Vietnam shortly.

• Harbour Energy plans to acquire Wintershall Dea’s non-Russian upstream assets, which will triple its 2p resources, increase production, lower operating costs, and boost free cash flow
• This move will reduce HBR’s reliance on the UK Continental Shelf and diversify its resource base
• Despite concerns about the future of UK oil and gas producers, HBR’s stock presents a potential upside of over 100% within the next 12-18 months, making it an attractive investment opportunity.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Tier 2 foundry revenue recovery is taking far longer than most expected. 
• Globalfoundries 2024 CapEx is less than one tenth of what SMIC is spending. Even Hua Hong is spending more. This makes investors nervous.
• Globalfoundries CapEx strategy is a pragmatic one and will pay dividends in the years to come

• Institutions were net sellers of Singapore stocks over the five trading sessions spanning Sep 20 to 26, with S$54 million of net institutional outflow, reducing total net inflows from the 20 trading sessions spanning Aug 30 (which included MSCI Index rebalancing) through to Sep 26, to S$1.165 billion.
• Leading the net institutional outflow over the five sessions through to Sep 26 were Singapore Telecommunications, Yangzijiang Shipbuilding Holdings, CapitaLand Investment, Singapore Exchange, Mapletree Logistics Trust, Capitaland Ascendas REIT, City Developments, Jardine Cycle & Carriage, Frasers Logistics & Commercial Trust and Mapletree Industrial Trust.
• Between Sep 24 and 25, Raffles Medical Group executive chairman Loo Choon Yong acquired 2.15 million shares at S$0.89 per share.

• Samsara is focused on monitoring and optimizing operations through its technology
• Strong revenue growth and market potential attract investors
• Becoming the “system of record” for operational intelligence could lead to increased customer retention and expansion opportunities

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Following on from my decision to pass on Euroz another company I looked further into was COG Financial Services.
• Unitholders may be well familiar with this already as the second bidder for Diverger, and substantial shareholder of Centrepoint Alliance (Given I invested in both this says something about their capital allocation).
• COG is another financial services business operating predominately in the space of asset finance brokering and lending. 

• PepsiCo’s 2024 second quarter earnings report reflects a complex landscape shaped by strategic adjustments and variable consumer behavior, especially in the context of a challenging US market.
• The company’s results are indicative of both resilience and areas requiring attention, navigating ongoing economic shifts and consumer sentiment.
• Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.