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

Fujifilm: An Inspiring Transformation Story

The Christmas Week That Was in ASEAN@Smartkarma - Bukalapak Standing Firm, 2022 IPOs, and Alfamart

Xiaomi: Massive Layoffs to Rescue Falling Margins

SenseTime: Shares Fall with Lock-Up Expiry; Further Downside with More Selling at the Next Expiry

Grab: Almost No Price Reaction to a So-Called Strong Set of Results as There Is Much to Prove

GoTo: Long-Term Profitability Is Worrying

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

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 Capital Markets

GoTo Gojek Tokopedia Tbk PT / Equity Capital Markets

<ul>
<li>As 2022 comes to an end, we revisit our IPO calls over the last 12-months and how these stocks have performed to assess the effectiveness of our calls.</li>
<li>We made explicit buy/sell calls on 12 IPOs during this period with a hit-rate of 83.3% with Grab, GoTo, Cloud Music, SenseTime and Leapmotor IPOs making the highest returns.</li>
<li>We also wrote on several other IPOs during this period, however, those IPOs have not received approval yet.</li>
</ul>


As 2022 comes to an end, we revisit our IPO calls over the last 12-months and how these stocks have performed to assess the effectiveness of our calls.
We made explicit buy/sell calls on 12 IPOs during this period with a hit-rate of 83.3% with Grab, GoTo, Cloud Music, SenseTime and Leapmotor IPOs making the highest returns.
We also wrote on several other IPOs during this period, however, those IPOs have not received approval yet.


Wanda Commercial Management Group (1877881D CH)

GoTo Gojek Tokopedia Tbk PT

Our IPO Calls for 2022