Equity Long-Short Analyst

Pyari Menon

Equity Bottom-Up

Twist Bioscience Corporation operates as a biotechnology company. The Company specializes in synthetic DNA such as biodetection, functional genomics, genome engineering, drugs and biodefense, and data storage. Twist Bioscience serves patients in the United States.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/twist-bioscience-corp" target="_blank" data-smartkarma-citation="entities:37112:1" rel="noopener">Twist Bioscience (TWST US)</a> fosters a new biotech paradigm by empowering startups and researchers with scalable tools, accelerating innovation and transforming biotech into a more agile, tech-style founder-driven industry.</li>
<li>DNA synthesis should see strong growth (15-25% CAGR estimates) driven by synthetic biology revolutionizing healthcare, agriculture, and industry with precise, scalable solutions for gene editing and bioengineering.</li>
<li>Lack of profitability and notable short-seller interest are concerns, but its innovative platform, high innovation score and transformative potential makes a somewhat risky but very good investment case</li>
</ul>



Twist Bioscience (TWST US) fosters a new biotech paradigm by empowering startups and researchers with scalable tools, accelerating innovation and transforming biotech into a more agile, tech-style founder-driven industry.
DNA synthesis should see strong growth (15-25% CAGR estimates) driven by synthetic biology revolutionizing healthcare, agriculture, and industry with precise, scalable solutions for gene editing and bioengineering.
Lack of profitability and notable short-seller interest are concerns, but its innovative platform, high innovation score and transformative potential makes a somewhat risky but very good investment case


Thematic (Sector/Industry)

<ul>
<li>Deregulation's Green Energy Boost: Reduced federal oversight could accelerate innovation in renewables as corporations and markets drive sustainability efforts independently of government policies.</li>
<li>Tariff-Induced Deflation Risks: Disrupted global supply chains and demand destruction from tariffs may lead to deflationary pressures rather than the widely expected inflation.</li>
<li>Rise of Privatized Services: Tax cuts could act as a gateway to increased privatization of government services, shifting more essential functions like education and law enforcement to corporate control.</li>
</ul>


Deregulation's Green Energy Boost: Reduced federal oversight could accelerate innovation in renewables as corporations and markets drive sustainability efforts independently of government policies.
Tariff-Induced Deflation Risks: Disrupted global supply chains and demand destruction from tariffs may lead to deflationary pressures rather than the widely expected inflation.
Rise of Privatized Services: Tax cuts could act as a gateway to increased privatization of government services, shifting more essential functions like education and law enforcement to corporate control.


Trump 2.0: Some Unexplored Market Implications of Deregulation, Tariffs, and Tax Reforms

<ul>
<li>In this report we analyzed data from technical publications to review leadership in RNA related therapeutics. We have listed the top thirty.</li>
<li>In terms of quantity and quality of innovations <a href="https://www.smartkarma.com/entities/alnylam-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:2191:1" rel="noopener">Alnylam Pharmaceuticals (ALNY US)</a>  and <a href="https://www.smartkarma.com/entities/moderna-inc" target="_blank" data-smartkarma-citation="entities:28744:1" rel="noopener">Moderna (MRNA US)</a>  are best positioned. Among private companies Senda Biosciences screened well. </li>
<li>Partnerships and acquisitions  between RNA startups and big pharma as well as between big pharma and big pharma highlight RNA's potential versatility, risks and the necessity for RNA related exposure.</li>
</ul>


In this report we analyzed data from technical publications to review leadership in RNA related therapeutics. We have listed the top thirty.
In terms of quantity and quality of innovations Alnylam Pharmaceuticals (ALNY US)  and Moderna (MRNA US)  are best positioned. Among private companies Senda Biosciences screened well. 
Partnerships and acquisitions  between RNA startups and big pharma as well as between big pharma and big pharma highlight RNA's potential versatility, risks and the necessity for RNA related exposure.


Who Are Leading the Charge in the RNAissance of Medicine

Boustead Singapore Limited / Equity Bottom-Up

Established in 1828, Boustead Singapore Limited (SGX:F9D) is a progressive global Infrastructure-Related Engineering and Technology Group listed on the SGX Mainboard.

Focusing on the niche engineering and development of key infrastructure to support sustainable shared socio-economic growth in global markets, our strong suite of engineering services under our Energy Engineering Division and Real Estate Division centres on energy infrastructure and smart, eco-sustainable and future-ready business park and industrial developments.

In addition, we provide technology-driven transformative solutions to improve quality of life for all walks of life.  Our Geospatial Division provides professional services and exclusively distributes Esri ArcGIS technology – the world’s leading geographic information system, smart mapping and location analytics platform – to major markets in the Asia Pacific.  The software creates digital infrastructure solutions and digital twins that enable smart nations, smart cities and smart communities to solve the world’s most complex problems through effective and sustainable improvement of human wellbeing and ecosystems, and planning and management of key infrastructure and resources.  Our Healthcare Division provides innovative medical solutions that address niche age-related chronic diseases and mobility issues, with a focus on rehabilitative care and sports science in the Asia Pacific.

With a vast global network stretching across Asia, Australia, Europe, Africa and the Americas, we are ready to serve the world.  To date, we have undertaken projects in 90 countries and territories globally.

In 2008 and 2009, we were recognised in the prestigious Forbes Asia 200 Best Under A Billion as one of the Asia Pacific’s 200 best public-listed corporations under US$1 billion in revenue.  In 2017, we were ranked by FinanceAsia as Singapore’s Best Small-Cap in the annual Asia’s Best Companies Poll.  In 2019, we were awarded the Most Transparent Company in the Industrials Category and Sustainability Award (Runner-Up) in the Mid Cap Category by the Securities Investors Association (Singapore).  For the second successive year in 2021, we were ranked among Singapore’s Best Employers, at 40th overall and 1st under our respective category of Business Services & Supplies (including Real Estate) in an evaluation encompassing 1,700 large corporations.  In 2021, we were awarded the Corporate Excellence & Resilience Award at the Singapore Corporate Awards 2021 Special Edition, a recognition of our best practices in corporate governance and leadership, innovation and resilience during the COVID-19 pandemic – among only 26 SGX-listed corporations to be honoured across all market capitalisation categories and only seven in the Mid Cap Category.  We are also listed on the MSCI World Micro Cap Index, FTSE Global Small Cap Index, FTSE Developed Small Cap Index and FTSE ST Industrials Index.

Visit us at www.boustead.sg.

<ul>
<li>Given <a href="https://www.smartkarma.com/entities/boustead-singapore-ltd" target="_blank" data-smartkarma-citation="entities:14843:1" rel="noopener">Boustead Singapore Limited (BOCS SP)</a> operating metrics just a minimal 1-2% growth through cycles should offer at least 50% upside.</li>
<li>Boustead is a solid investment with diversified exposure in energy, geospatial, and real estate sectors, with a focus on sustainability, and steady project pipeline supporting long-term visibility.</li>
<li>Boustead Singapore Limited (BOCS SP) is a deep value play, which prioritizes stability and risk mitigation over aggressive growth. </li>
</ul>


Given Boustead Singapore Limited (BOCS SP) operating metrics just a minimal 1-2% growth through cycles should offer at least 50% upside.
Boustead is a solid investment with diversified exposure in energy, geospatial, and real estate sectors, with a focus on sustainability, and steady project pipeline supporting long-term visibility.
Boustead Singapore Limited (BOCS SP) is a deep value play, which prioritizes stability and risk mitigation over aggressive growth. 


<ul>
<li>Major corporations and states will continue driving green energy demand, with renewable energy commitments independent of federal policy.</li>
<li>International green energy firms in Europe and Asia will attract U.S. investment and technologies as supportive policies and consistent demand make these markets appealing.</li>
<li>Despite an <em>"independent fed"</em> lower interest rates are more likely under Trump, which might more than compensate policy changes as investment costs rather than operational costs drive renewables </li>
</ul>


Major corporations and states will continue driving green energy demand, with renewable energy commitments independent of federal policy.
International green energy firms in Europe and Asia will attract U.S. investment and technologies as supportive policies and consistent demand make these markets appealing.
Despite an "independent fed" lower interest rates are more likely under Trump, which might more than compensate policy changes as investment costs rather than operational costs drive renewables 


How a Trump Presidency Could Fuel Green Energy Innovation and Global Growth

Pyari has over twenty years of experience in the industry, having worked on both the buy and sell-side including at Goldman Sachs, Credit-Suisse, Deutsche Bank, Intellectual Ventures, Tano Capital, and Franklin Templeton. His coverage has been in technology and midcaps across various geographies including Taiwan, ASEAN, India, the US, and Europe.

Pyari Menon
Equity Long-Short Analyst

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