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Bangladesh Equity Strategy 2023: Silver linings

Ease in both current account and financial account to change the course of BoP balance trend within two to three months. IMF prescriptions to bring major reforms. Our favorite stocks have pricing power, inelastic demand and strong corporate governanc...
UCB Stock Brokerage Limited Hasib
Hasib Reza @ UCB Stock Brokerage Limited 30 March 2023

America Movil: Flash: Will propose shareholder remuneration of up to 4.1% return

America Movil announced that it will propose a cash dividend payment of MXN 0.46 per share (+4.5% y/y). As well as an amount of MXN 20 billion to the share buyback fund for the period April 2023 - April 2024. The dividend equates to a 2.4% yield, whi...
Banorte Jose Itzamna
Jose Itzamna Espitia Hernandez @ Banorte 22 March 2023

Advanced Info Service PCL: Scope for an upside—a mobile ARPU uplift in 2023

Mobile and FBB competition to improve from 1Q23 onward. Scope for an upside from the mobile ARPU uplift in 2023. Focus on profitable revenue and market share—highlight in 2023.
Bualuang Securities Prasit
Prasit Sujiravorakul @ Bualuang Securities 20 March 2023

Thailand: Media - Stay defensive for now

Out-of-Home recovery. Ad spend dropped YoY in Jan. Cloudy 1Q23 outlook.
Bualuang Securities Napon
Napon Jaisan @ Bualuang Securities 17 March 2023

Telecom Egypt: Healthy revenues & margins, and tax savings drive bottom line

Healthy revenues across all business lines. Solid annual margins despite sequential contraction, on cost inflation and 4Q unfavorable seasonality. Healthy revenues, solid margins, and tax savings drive NP, despite FX losses and lower investment incom...
Al Ahly Pharos Securities Brokerage Mariam
Mariam Wael @ Al Ahly Pharos Securities Brokerage 6 March 2023

True Corp PCL: Upside to our synergy value estimate from cross-sell and up-sell

NewCo’s implied value of Bt8.51 pegged with Feb 17 closing prices. NewCo’s implied value of Bt8.51 pegged with Feb 17 closing prices. Key areas of synergy from amalgamation.
Bualuang Securities Prasit
Prasit Sujiravorakul @ Bualuang Securities 3 March 2023