Author: d8rrenho3

Financial Model

Galaxy Entertainment Group (27:HK)

Summary:– Company Overview– Latest News– Financial Model + Valuation– Investment Thesis– Geographical Presence– MD&A– Shareholder Structure– Market Capitalization Company OverviewThe Group primarily develops and operates a large portfolio of integrated resorts, retail, dining, hotel and game facilities in Macau. The company operates three flagship destinations in Macau, the Galaxy Macau, Broadway Macau and StarWorld Macau. The destinations are known to hold a large selection of … Continue reading Galaxy Entertainment Group (27:HK)

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M&A / IPO News

Understanding Stahub’s Business Model

This article is useful for readers who have little idea on how Teclo’s work and would like to get to know them better. The goals of this article is to breakdown Starhub’s different business lines and explain each of them in detail. There is a comp table at the bottom. Starhub’s business is split into its consumer and enterprise units Consumer Division – 51% of … Continue reading Understanding Stahub’s Business Model

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M&A / IPO News

The Southeast Asia Packaging Industry

At the end of 2019, Frost and Sullivan were commissioned by SCG Packaging to do a report on the Packaging Industry in Southeast Asia. Below, you will find below a detailed breakdown of the different segments within the Packaging Industry. Summary Understanding the different Packaging Markets and the value chain Forestry and Pulp Market Corrugating Packaging Market Plastics Packaging Market Food & Beverage Packaging Market … Continue reading The Southeast Asia Packaging Industry

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Sticky post
M&A / IPO News

The Impact of COVID on South East Asia

The quarantines, curfews and lockdowns brought up by the pandemic have restricted movement and travel both domestically and internationally. This has weighed heavily on private consumption. The uncertainty has also weighed on both external and internal (Capex) investments.Businesses revenues have plunged and have led to a rise in unemployment figures, setting the stage for the economic crisis that we are facing today. Summary– Real GDP … Continue reading The Impact of COVID on South East Asia

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M&A / IPO News

Analysing the Market Share of Gaming Chairs – After Temasek Unit Buys a stake in Secretlab

Recently Temasek Holdings purchased a stake in Secret Lab for $200-$300 million. This got me wondering how they would price such a company in such a niche market (with relatively limited comps). Armed without the financial information of Secret Lab, I decided to try to find the Total Addressable Market for Gaming Chairs. Market Sizing based on Age Group A Gaming Advocacy Group, the Entertainment … Continue reading Analysing the Market Share of Gaming Chairs – After Temasek Unit Buys a stake in Secretlab

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Financial Model, Pitch Book

Pitch Book & Comps for DouYu International Holdings, the Chinese version of Twitch with a very different business model

Download a simple pitch book (main focus is on understanding the company, less of financial graphs) as well as a list of comparable companies. (All LTM figures used, basic figures collated) In Summary : Let the market set a price first before entering. If it touches $9, then value investors should start being interested. Continue reading Pitch Book & Comps for DouYu International Holdings, the Chinese version of Twitch with a very different business model

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Financial Model, Pitch Book

Comparable Analysis & Pitch Book of Revolve Group. As the stock looks for an equilibrium point, just buy their clothes for now.

If you are born after 1990, female, and love online shopping, you must have heard of Revolve, an online fashion e-commerce company. Based in the states, they focus on providing premium fashion lifestyle brands to consumers. Endorsed by the like of Hailey Baldwin and Kendall Jenner, they mainly use influencers to market their products and it has been working well for them. Their stock however, … Continue reading Comparable Analysis & Pitch Book of Revolve Group. As the stock looks for an equilibrium point, just buy their clothes for now.

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Financial Model, Pitch Book

Pitch Book & Valuation Model for the Tai Hing Group

After being listed at $2.48 a share on the 13th of June, the Tai Hing Group briefly touched $3.00 a share, before sliding gradually. It reached $2.24 a share today. Despite the price being close to what our DCF model price. We expect more selling pressure throughout the year, especially with a slowdown in Hong Kong and unrests building up. It will be good to … Continue reading Pitch Book & Valuation Model for the Tai Hing Group

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Financial Model

DCF Model on Wynn Macau. With gaming licenses in Macau ending in 2022, how will 2019’s August election affect its renewal?

All Casinos in Hong Kong will need to rebid for their licenses scheduled to expire on the 22nd of June 2022. With no information on the rebidding process, the license situation will likely hang over the shares of the six operators All Casinos in Hong Kong will need to rebid for their licenses scheduled to expire on the 22nd of June 2022. It is highly … Continue reading DCF Model on Wynn Macau. With gaming licenses in Macau ending in 2022, how will 2019’s August election affect its renewal?

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M&A / IPO News

With Eldorado Resorts buying Casers Entertainment Corp, the combined debt will skyrocket

Eldorado Resorts is buying Casers Entertainment Corp for about $8.58 billion that will create the largest U.S. gaming operator, as it looks to take on larger companies such as Las Vegas Sands and Wynn Resorts. The agreed equity value of $12.75 a share, a mix of cash and Eldorado stock, represents a premium of about 28% to Caesers 21st June 2019 closing price. Including the … Continue reading With Eldorado Resorts buying Casers Entertainment Corp, the combined debt will skyrocket

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