Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

A chartered management accountant with more than 10 years of rich experience in investment research and financial analysis. Worked as an equity analyst for one of the world's largest asset managers with USD2.5trn in AUM covering numerous sectors including chemicals, retail, tech, autos, telco, real-estate and banks, globally. Experienced in fundamental equity research, industry research, commodity studies, forensic accounting, and due diligence reviews.

Equity Analyst

Tencent 4Q2023: Gaming Declines Yet Again, Margins Have Further Upside

Tencent: Online Advertising and High-Margin Businesses Support Earnings

Tencent 2Q: Recent Launch of DnF Mobile Helps Domestic Gaming Return to Growth

GoTo: Thoughts on the New Tokopedia/TikTok Partnership

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Lalatech IPO: 1H2023 Numbers Point to Strong Improvement in Financials

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

GoTo Gojek Tokopedia Tbk PT / Equity Bottom-Up

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<li>
<a href="https://www.smartkarma.com/entities/goto-gojek-tokopedia-tbk-pt" target="_blank" data-smartkarma-citation="entities:25976:1" rel="noopener">GoTo Gojek Tokopedia Tbk PT (GOTO IJ)</a> reported 4Q2023 results yesterday which shows that the company’s profitability has significantly improved.</li>
<li>The improvement in profitability has come at the cost of growth which has continued to decline suggesting profits may not be sustained.</li>
<li>GoTo announced that it has completed the Tokopedia partnership deal with TikTok and also a plan to buyback shares, subject to regulatory/shareholder approval.</li>
</ul>



GoTo Gojek Tokopedia Tbk PT (GOTO IJ) reported 4Q2023 results yesterday which shows that the company’s profitability has significantly improved.
The improvement in profitability has come at the cost of growth which has continued to decline suggesting profits may not be sustained.
GoTo announced that it has completed the Tokopedia partnership deal with TikTok and also a plan to buyback shares, subject to regulatory/shareholder approval.


GoTo 4Q2023: Improved Profitability and a Plan to Buyback Shares to Rescue Falling Share Price