Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 15 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

The Week That Was in ASEAN@Smartkarma - Kalbe Farma, Grab Holdings, and Philippine StockExchange

Philippines Exchange (PSE PM): Updates from Q3/Q4, Catalysts Lining Up for Long-Term

Philippines Exchange (PSE PM): Deep Value Exchange With Growth Option Embedded

Philippines Exchange (PSE PM): Slow Q4 2023, FY24 Catalysts in the Pipeline

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

Philippine Stock Exchange / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/philippine-stock-exchange-inc" target="_blank" data-smartkarma-citation="entities:23182:1" rel="noopener">Philippine Stock Exchange (PSE PM)</a> reported a slow Q1 2024, with revenue growth of -8% YoY but profit growth of 20% YoY, led by gains on investment income</li>
<li>Cash and Investments at 4 bn pesos account for 24% of mkt cap. It is cheap on EV-EBITDA at 15.7x FY24e. The dividend yield at the current price is 5%. </li>
<li>Multiple catalysts, such as the acquisition of PDS and the implementation of lower clearing fees, the addition of depositary receipts, and derivatives, will also be implemented over time. </li>
</ul>



Philippine Stock Exchange (PSE PM) reported a slow Q1 2024, with revenue growth of -8% YoY but profit growth of 20% YoY, led by gains on investment income
Cash and Investments at 4 bn pesos account for 24% of mkt cap. It is cheap on EV-EBITDA at 15.7x FY24e. The dividend yield at the current price is 5%. 
Multiple catalysts, such as the acquisition of PDS and the implementation of lower clearing fees, the addition of depositary receipts, and derivatives, will also be implemented over time. 


Philippines Exchange (PSE PM): Q1 2024, Slow Quarter, Some Positives Emerging