In a post a few weeks ago, I argued that the disclosure process had lost its moorings, as corporate disclosures (annual filings, prospectuses for IPOs) have become more bulky, while also become less informative. I argued that some of this disclosure complexity could be attributed to the law of unintended consequences, with good intentions driving […]
A few weeks ago, I valued Zomato, the Indian online food delivery company, just prior to its IPO, and argued that the excitement about its potential was tied to the potential for growth in India and the shifting habits of Indian consumers. Since its public offering, Zomato's stock price has reflected that excitement, more than […]
Last year, I wrote a post on ESG and explained why I was skeptical about the claims made by advocates about the benefits it would bring to companies, investors and society. In the year since, I have heard from many on the topic, and while there are some who agreed with me on the internal […]
For the last two decades, China has been the dominant story for both the global economy and capital markets, as the country's immense growth and infrastructure investments have sustained commodity prices, and altered the balance of world economic power. That growth has come (or should have come) with the recognition that in almost every venture […]
Just over a week ago, I valued Zomato ahead of its market debut, and as with almost every valuation that I do on this forum, I heard from many of you. Some of you felt that I was being far too generous in my assumptions about market share and profitability, for a company with no […]
Zomato, an Indian online food-delivery company, was opened up to public market investors on July 14, 2021, and its market debut is being watched for clues by a number of other online ventures in India, waiting in the wings to go public. The primary attraction of the company, to investors, comes not from its current […]
In the last few decades, as disclosure requirements for publicly traded firms have increased, annual reports and regulatory filings have become heftier. Some of this surge can be attributed to companies becoming more complex and geographically diversified, but much of it can be traced to increased disclosure requirements from accounting rule writers and market regulators. […]
For decades, the process that companies in the United States have used to go public has followed a familiar script. The company files a prospectus, providing prospective investors with information about its business model and financials, and hires an investment banker or bankers to manage the issuance process. The bankers, in addition to doing a […]
As we approach the mid point of 2021, financial markets, for the most part, have had a good year so far. Looking at US equities, the S&P 500 is up about 11% and the NASDAQ about 5%, from start of the year levels, and the underperformance of the latter has led to a wave of […]
Kevin Hassett, President Donald Trump's top economic adviser, suggested Goldman Sachs may be slanting its economic research to help Democrats ahead of the midterm elections.
Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files.
ASCENDAS real estate investment trust (Reit) has proposed the acquisition of 11 logistic properties located in Kansas City, United States for S$207.8 million.
SUNTEC real estate investment trust's (Reit) distribution per unit (DPU) rose 20.8 per cent to 2.232 Singapore cents from 1.648 cents to a year ago, its manager said in a business update filed on Friday (Oct 22).
SABANA Industrial Reit (Sabana Reit) logged a portfolio occupancy of 85.3 per cent as at Sept 30, the highest level since early 2018, its manager announced in a quarterly business update on Thursday (Oct 21) evening.
SABANA Industrial Reit (Sabana Reit) logged a portfolio occupancy of 85.3 per cent as of Sept 30, the highest level since early 2018, its manager announced in a quarterly business update on Thursday (Oct 21) evening.
RAFFLES Education on Thursday (Oct 21) disclosed that the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) have requested documents relating to loan facilities extended to its subsidiaries. The private education provider, which called for a trading halt on Oct 19, also responded to claims in a letter by shareholder Oei Hong […]
CHINA'S property sector and the world's most leveraged property player Evergrande appeared to be weighing on sentiment in Asia, noted an analyst, as Singapore's blue-chip barometer Straits Times Index (STI) ended lower on Thursday (Oct 21).
RAFFLES Education on Thursday (Oct 21) disclosed that the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) have requested documents relating to loan facilities extended to its subsidiaries. The private education provider, which called for a trading halt on Oct 19, also responded to claims in a letter by shareholder Oei Hong […]
SINGAPORE stocks opened slightly higher on Thursday (Oct 21), tracking overnight gains on Wall Street and warding off concerns on the extension of the nation's Stabilisation Phase by 4 more weeks.
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