In today’s briefing:
- Weekly Wrap – 18 Aug 2023
- Etisalat’s VC Arm, Singtel Innov8 Join Airalo’s US$60M Series B Round
- Indosat (ISAT IJ) – Sails Set on a More Profitable Course
- What’s Next for SiMo?
- ADP Inc: These Are The 3 Main Catalysts Responsible For Its Growth! – Financial Forecasts
- 1Q Follow-Up – Torex Semiconductor (6616 JP)
Weekly Wrap – 18 Aug 2023
Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:
- Sino-Ocean Group
- Adani Ports & Special Economic Zone
- Road King Infrastructure
- China Jinmao Holdings
- Geely Auto
and more…
Etisalat’s VC Arm, Singtel Innov8 Join Airalo’s US$60M Series B Round
- Airalo, an e-SIM marketplace, has secured US$60 million in a Series B investment round from a clutch of investors, its Co-Founder Ahmet Bahadir Ozdemir said in a LinkedIn post.
- The investors participating in the round are Etisalat’s e& capital, Liberty Global, Singtel Innov8, Orange Ventures, Deutsche Telekom’s T.Capital, KPN Ventures, and Telefonica.
- Existing investors Antler, Rakuten Ventures, Peak XV Partners’s Surge, and I2BF Global Ventures also joined.
Indosat (ISAT IJ) – Sails Set on a More Profitable Course
- Indosat (ISAT IJ) 2Q2023 saw the benefit of surging seasonal demand driving data usage coupled with its stronger network post the 3 integration.
- The company saw a further increase in subscribers in 2Q2023 to over 100m, along with higher ARPUs, which rose by +8.6% YoY in 2Q2023 helping to improve returns.
- Indosat (ISAT IJ) continues to invest in maintaining the quality of its network as well as offering new value-added products to customers, boosting retention and profitability.
What’s Next for SiMo?
- MaxLinear’s acquisition of Silicon Motion has been abandoned, with both sides threatening arbitration.
- It is difficult to understand why the acquisition would have resulted in the synergies projected by management. The businesses are very different.
- Assuming the companies go different ways, expect for SiMo to perform as it has in the past.
ADP Inc: These Are The 3 Main Catalysts Responsible For Its Growth! – Financial Forecasts
- ADP delivered an all-around beat in the previous quarter.
- The HCM demand environment remained healthy, and the company’s worldwide sales and marketing team delivered exceptional results, exceeding expectations with double-digit overall growth in Employer Services and new business Bookings.
- With a focus on innovation, client service, and expanding its reach, ADP aims to capitalize on the growth opportunities in the HCM industry.
1Q Follow-Up – Torex Semiconductor (6616 JP)
- TOREX Semiconductor announced 1Q FY24/3 consolidated financial results at 15:30 on 8/10.
- Headline numbers were net sales -25.5% YoY, operating profit -87.2% YoY, and profit attributable to owners of parent -94.3% YoY.
- Ordinary profit posted a slight loss due to recording a loss on foreign exchange.