reports
- Heidi Mo Jinghui
- John Cheong Ming Chern
- Kai Jie Tang
Singapore Daily: Wednesday, November 12, 2025
Top Stories Company Results | Riverstone Holdings (RSTON SP/BUY/S$0.81/Target: S$1.05) Riverstone’s 3Q25 results were in line, with earnings of RM52m (+15% qoq) as stronger cleanroom demand was driven by AI-related industries. Maintain BUY with a 7% higher target price of S$1.05. Current share price weakness presents a good buying opportunity, as the market may have overlooked the lumpy dividend payout in 4Q25. The stock is trading at a >7% yield for 2025. Company Results | SEA (SE US/BUY/...
Moody's Ratings: No adverse rating impact on DBL Funding Trust No. 1 R...
Moody's Ratings (Moody's) announced today that the issuance of additional Class A and Class B notes following a purchase of AUD125.7 million of mortgage loans by DBL Funding Trust No. 1 Repo Series No. 1 on 12 November 2025 (the "Uplift") would not, in and of itself and as of this time, result in a ...
- Heidi Mo Jinghui
- John Cheong Ming Chern
CSE Global (CSE SP) - Game-changing Partnership With Amazon; Raise Tar...
CSE will be issuing around 63m warrants to Amazon which could then hold an 8% substantial stake in CSE. The vesting condition indicates major contract wins of US$1.5b over five years. This partnership is a major win for CSE, which could boost its DC-related revenue from about 10% to approximately 30% annually. Maintain BUY with a 44% higher target price of S$1.22.
- Heidi Mo Jinghui
- John Cheong Ming Chern
- Kai Jie Tang
SEA (SE US) - 3Q25: Minor Reinvestment To Unlock Bigger Potential
SEA reported a softer 3Q25 as Shopee’s reinvestment in marketing and logistics compressed margins, offsetting robust growth in Monee and Garena. While near-term profitability moderates, core fundamentals remain strong. We cut 2025-27 earnings by 25-28% and lower our target price by 2% to US$200.18. Maintain BUY on SEA’s long-term growth prospects, supported by continued user acquisition and logistics enhancement.
- Heidi Mo Jinghui
Riverstone Holdings (RSTON SP) - 3Q25: Good AI Proxy With >7% Yield; R...
Riverstone’s 3Q25 results were in line, with earnings of RM52m (+15% qoq) as stronger cleanroom demand was driven by AI-related industries. Maintain BUY with a 7% higher target price of S$1.05. Current share price weakness presents a good buying opportunity, as the market may have overlooked the lumpy dividend payout in 4Q25. The stock is trading at a >7% yield for 2025.
- Sid Rajeev
Denarius Metals Corp. (CBOE: DMET) - Advancing Two Mines - Gold and Po...
DMET secures approval for 1,000 tpd Zancudo gold plant in Colombia, targeting Q2-2026 startup with 50-60 koz Au & 0.8 Moz Ag annually. Resources up 16% to 1.23 Moz AuEq, 20% indicated. Updated PEA due Q4-2025; prior showed $206M NPV5%, 287% IRR at $1,800/oz Au (spot now $3,980/oz).Restarting Spain's Aguablanca Ni mine by mid-2026 (70 kt Ni-Cu conc.); Lomero PEA early 2026. Amid gold highs, expect M&A surge. DMET trades at C$47/oz AuEq vs sector C$81/oz. Catalysts: drilling, PEAs, plant build, re...
- Alden Gabriel Lam
- Andrew Agita Buntoro
Folago Global Nusantara (IRSX IJ) - From Vouchers To Digital Entertain...
Small/Mid Cap Highlights | Folago Global Nusantara (IRSX IJ/NOT RATED/Rp230) IRSX has transformed from a mobile voucher business into a digital talent management company, rebranded as Folago Global Nusantara. It operates TikTok-based e-commerce and gifting businesses and will expand into short movies via a 51%-owned OTT platform, AI-powered live commerce, and interactive talent shows. To fund growth, IRSX plans a rights issue of up to 12.39b shares and 1.86b warrants, with potential synergy with...
- Alden Gabriel Lam
- Andrew Agita Buntoro
- Maskun Ramli
Indonesia Daily - Wednesday, November 12, 2025
Small/Mid Cap Highlights | Folago Global Nusantara (IRSX IJ/NOT RATED/Rp230) IRSX has transformed from a mobile voucher business into a digital talent management company, rebranded as Folago Global Nusantara. It operates TikTok-based e-commerce and gifting businesses and will expand into short movies via a 51%-owned OTT platform, AI-powered live commerce, and interactive talent shows. To fund growth, IRSX plans a rights issue of up to 12.39b shares and 1.86b warrants, with potential synergy with...
Moody's Ratings affirms Hawaii Pacific Health's A1; outlook stable
Moody's Ratings (Moody's) has affirmed Hawaii Pacific Health's (HPH) A1 revenue bond rating. The outlook is stable. HPH has approximately $620 million of debt outstanding. RATINGS RATIONALE Affirmation of HPH's A1 reflects the expectation that operating cashflow (OCF) margin will materially impr...
- James Ratzer
Proof Meets Purpose: Datavault AI Honors Veterans with Valor Preservat...
Proof Meets Purpose: Datavault AI Honors Veterans with Valor Preservation Coin and Showcases VerifyU™ in Washington, D.C. PHILADELPHIA, Nov. 11, 2025 (GLOBE NEWSWIRE) -- via IBN – Datavault AI Inc. (Nasdaq: DVLT), a leader in data monetization, credentialing, and digital engagement technologies, completed a series of Veterans Week events in Washington, D.C., where it presented its Valor Preservation Coin and VerifyU™ credential-verification platform to policymakers, veterans, and industry partners. On November 9, 10 and 11, Datavault AI participated in the Grand Marshal Dinner at the Ro...
Pluxee acknolwedges the Brazilian government’s communication on the Wo...
Pluxee acknolwedges the Brazilian government’s communication on the Workers’ Food Program (PAT) Paris, November 11, 2025 – Pluxee takes note of the communication issued by the Brazilian government concerning the Workers’ Food Program (Programa de Alimentação do Trabalhador – PAT), introducing changes to the merchant discount rate (MDR), reimbursement deadlines, and voucher processing. These measures, set to start taking effect in 90 days at the earliest, diverge significantly from the discussions previously conducted between the industry association (ABBT) and the government. Pluxee is con...
Pluxee prend acte de la communication du gouvernement brésilien à prop...
Pluxee prend acte de la communication du gouvernement brésilien à propos du Programme d’alimentation des travailleurs (PAT) Paris, le 11 novembre 2025 – Pluxee prend acte de la communication du gouvernement brésilien à propos du Programme d’Alimentation du Travailleur (Programa de Alimentação do Trabalhador – PAT), concernant notamment le taux de commission commerçant (MDR), les délais de remboursement et le traitement des titres-restaurant. Ces mesures, qui prendraient effet au plus tôt dans 90 jours, divergent de manière significative des discussions menées entre l’association profession...
Moody's Ratings changes Alsea's outlook to positive; affirms Ba3 ratin...
Moody's Ratings (Moody's) affirmed Alsea S.A.B. de C.V.'s ("Alsea") Ba3 Corporate Family Rating and the senior unsecured Global Notes rating. We have also affirmed the Ba3 rating of the senior unsecured notes pertaining to Food Service Project S.A., a wholly owned subsidiary senior of Alsea. The out...
Moody's Ratings places TreeHouse Foods' B1 CFR under review for downgr...
Moody's Ratings (Moody's) placed TreeHouse Foods, Inc.'s ("TreeHouse") B1 Corporate Family Rating (CFR) and B1-PD Probability of Default Rating (PDR) under review for downgrade following the announced buyout by F&B Investments III Inc. (Investindustrial). The Ba3 ratings on company's senior secured ...
- ABGSC Construct. & Real Estate Research
- Åsne Holsen
- Bengt Jonassen
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