Issue 2

Issue 2 1024 682 Wickhams Hill

Issue 2

Fallen Angels: MM2 Asia Ltd (MM2 SP), which we flagged in our inaugural issue last week, received an unsolicited bid for their Singapore and Malaysian cinema business. The offer made would imply a share price of about SGD 16.2cents, +140% from today’s close.

Buyback Monitor: We uncover a massive buyback program underway at Alliance Global Group (AGI PM), Emperador (EMP PM), and Megaworld (MEG PM).

AKR Corporindo (AKRA IJ) has picked up some new coverage which comes after Freeport confirmed a major project with the company. We had highlight major on-market purchases by the CEO in last week’s issue and the stock has since risen 18%.

IPO Monitor: The US$1.5bn IPO of Indonesian online flea market Bukalapak (BUKA IJ) is planned for next week. While another Asia-focused SPAC files for US listing.

New Coverage: Singapore-listed small and microcaps are beginning to work again after years of going nowhere. We’ve featured Koda Ltd (KODA SP) which is really a play on US and Chinese homebuilding.

Volume Surges: And lastly, it’s no secret that trading activity is often a precursor to news flow across ASEAN markets. So, we’ve now added a monitor that captures rising trading volume to catch the big moves before they happen.

The Indonesian telco Link Net (LINK IJ) caught our eye following a bid from Malaysia’s Axiata Group and prompted us to check in on a little-known company Bali Tower (BALI IJ), which is the largest optical fiber network owner in the capital, Jakarta.

A company we know well, the Indonesian Steel Pipe Company ‘SPINDO’ (ISSP IJ) also featured in the list along with 25 other new names including Thai chicken and animal feed company GFPT PCL (GFPT TB) and Philippine hardware company Wilcon Depot (WLCON PM).