In today’s briefing:
- The Week That Was in ASEAN@Smartkarma – Bank Mandiri, Thai Life IPO, and Saratoga Unlocking Value
- UK: GDP Falls to Ill Health in Apr-22
The Week That Was in ASEAN@Smartkarma – Bank Mandiri, Thai Life IPO, and Saratoga Unlocking Value
- The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across South East Asia.
- The past week saw insights on Bank Mandiri (BMRI IJ), Thai Life pre-IPO, Saratoga Investama Sedaya, Frasers Hospitality Trust (FHT SP), and Hwa Hong Corp (HWAH SP).
- We also saw insights on First Media, as the XL Axiata/ Link Net deal is voted through, and Mapletree North Asia Commercial Trust on delisting and GoTo post results.
UK: GDP Falls to Ill Health in Apr-22
- UK GDP declined again in April, meaning output has only grown in one of the past five months. High consumption around Easter and recovering car trade were overwhelmed.
- Health output crashed as covid-related trade ended, professional services fell from their highs, and industrial production continued retreating.
- GDP probably contracted in Q2, but high inflation is currently more concerning to the BoE. It should help encourage more gradualism beyond August, though.
Before it’s here, it’s on Smartkarma
