In today’s briefing:
- Sea Ltd 2Q23: Revenue Should Align with Consensus, Profitability a Puzzle
- Fortress Minerals’ CEO Ivan Chee raises his stake
Sea Ltd 2Q23: Revenue Should Align with Consensus, Profitability a Puzzle
- We remain bearish on Sea (SE US) leading upto Q2 results on 15th August 2023.
- Our analysis suggests Sea Ltd could hit around $3.25bn revenue in 2Q23, in line with consensus. However, profitability could fall short of consensus expectations.
- Nonetheless, any downside stemming from a minor earnings shortfall could be rather limited given the existing low consensus and the lackluster price performance leading up to the Q2 earnings announcement.
Fortress Minerals’ CEO Ivan Chee raises his stake
- Share buybacks by primary listed companies 4 – 10 Aug 2023 Institutions were net buyers of Singapore stocks over the four trading sessions through to Aug 10, with S$136 million of net institutional inflow, with eight primary-listed companies conducting buybacks with a total consideration of S$7.7 million.
- The previous mandate saw the company buy back 14,250,100 of its shares which represented 2.12 per cent of its total number of issued shares (excluding treasury shares).
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