In today’s briefing:
- ADARO Solid 3Q 2022 : But Prefer ITMG
- FishLog Raises US$3.5M to Empower Cold Storage Warehouses in Indonesia to Improve Utility
ADARO Solid 3Q 2022 : But Prefer ITMG
- Adaro Energy (ADRO IJ) showed a sequential decline in earnings owing to a 6.8% QoQ decrease in pricing as discounts for their coal continued to build Vs. Newcastle.
- While the stock trades at a 2.8x FY22 PE and 1.3x EV-EBTIDA FY22E with a 21% dividend yield, the market is pricing in a substantial decline in coal prices.
- Adaro offers a significant margin of safety with 25% of the market cap in cash and decent capital allocation, but we prefer ITMG for its superior grades.
FishLog Raises US$3.5M to Empower Cold Storage Warehouses in Indonesia to Improve Utility
- FishLog, an ecosystem enabler for the fisheries cold chain industry in Indonesia, has closed its US$3.5 million pre-Series A round
FishLog was established in 2020 by Bayu Anggara, Reza Fahlepi, and Abdul Halim to solve the fragmentation in cold chain fisheries in Indonesia
The agritech startup improves cold storage, processor, and distribution in Indonesia’s fisheries to enable the industry to meet global supply and demand better
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