reports
- Peter Thilo Hasler
Where has the business model gone? Downgrade to Sell
The half-year report shows that not much has remained of the original core business with which Achiko went public in 2019. Revenues in the first half of 2020 amounted to USD 2.7 million, compared to USD 3.6 million in the same period last year (-24.6% YoY). While no explanation was given for the drop in sales, Achiko is, according to our estimates, also far from reaching the guidance published only in April 2020, which had envisaged sales of USD 50 million for 2020e and has not been revoked sin...
- Peter Thilo Hasler
Achiko announces successful capital increase
Achiko today announced the successful completion of a capital increase. The company’s share capital was increased by kUSD 20.0 from kUSD 91.4 to kUSD 111.4 by issuing 2.0 million bearer shares with a par-value of USD 0.01. All new shares have been placed at a price of USD 1.00 per share, substantially above yesterday`s closing price of USD 0.22. Gross proceeds from the capital increase in the amount of USD 2.0 million will be used to strengthen the equity base and to support the company’s organi...
- Peter Thilo Hasler
Partnership for a COVID-19 test passport technology
Achiko and TrustScan, a Singapore based technology start-up, have announced a partnership that will make TrustScan’s patent-pending smartphone based COVID-19 test passport technology available for the Achiko Platform. In the partnership, Achiko will take the role of a logistics or execution partner for TrustScan, providing its users with a digital certificate on their smartphone whenever they take a COVID-19 test. By making COVID-19 test results valuable, people will be able to show a current a...
- Peter Thilo Hasler
Partnership with Huawei Tech Investment
Achiko and Huawei Tech Investment, a subsidiary of Chinese Huawei Technologies, announced their intention to partner in providing access to market and to promote a series of marketing activities. These marketing activities range from the consumption of digital inventories of Indonesia's top 3 telco companies, over the creation of exclusive microsites and cross promotional campaigns to online and offline activities. With a marketing budget of up to USD 1 million, the partnership is expected to de...
- Peter Thilo Hasler
Expanding range of services through value-enhancing M&A
We continue to believe that Achiko shares offer a compelling attractive growth investment opportunity. While the shares are trading close to the intrinsic value of Achiko’s existing asset portfolio, the market does not give credit to the future strategy and portfolio expansion. Should the ambitious management expectations be confirmed over the next years, we believe that Achiko is trading significantly below its intrinsic value. Therefore, we are confirming our USD 1.70 price target which is bas...
DGAP-News: Achiko Ltd.: Achiko announces investment in EmpatKali to of...
DGAP-News: Achiko Ltd. / Key word(s): Agreement Achiko Ltd.: Achiko announces investment in EmpatKali to offer buy now, pay later services in Indonesia 04.12.2019 / 07:00 The issuer is solely responsible for the content of this announcement. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. Achiko announces investment in EmpatKali to offer buy now, pay later services in Indonesia Zuri...
DGAP-News: Achiko Ltd.: Achiko kündigt Investition in EmpatKali an, u...
DGAP-News: Achiko Ltd. / Schlagwort(e): Vereinbarung Achiko Ltd.: Achiko kündigt Investition in EmpatKali an, um in Indonesien den Service 'buy now, pay later' anbieten zu können 04.12.2019 / 07:00 Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. NICHT ZUR FREIGABE, VERÖFFENTLICHUNG ODER VERBREITUNG (GANZ ODER TEILWEISE) IN ODER FÜR DIE USA, AUSTRALIEN, KANADA ODER JAPAN ODER EINEM ANDEREN GERICHTSSTAND, WO DIES EINEN VERSTOSS GEGEN DIE ANWENDBAREN RECHTSVORSCHRIFTEN DIESER RECHTSORDNUNG DARSTELLEN KÖNNTE. Achiko kündigt Investition i...
DGAP-News: Achiko Ltd.: Achiko and Hypothekarbank Lenzburg sign a Mem...
DGAP-News: Achiko Ltd. / Key word(s): Agreement Achiko Ltd.: Achiko and Hypothekarbank Lenzburg sign a Memorandum of Understanding to progress delivery of Achiko's digital wallet and financial services App in Switzerland (news with additional features) 28.11.2019 / 17:30 The issuer is solely responsible for the content of this announcement. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTI...
DGAP-News: Achiko Ltd.: Achiko und Hypothekarbank Lenzburg unterzeichn...
DGAP-News: Achiko Ltd. / Schlagwort(e): Vereinbarung Achiko Ltd.: Achiko und Hypothekarbank Lenzburg unterzeichnen ein Memorandum of Understanding über die Bereitstellung einer App für Finanzdienstleistungen und eines digitalen Wallets von Achiko in der Schweiz (News mit Zusatzmaterial) 28.11.2019 / 17:30 Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLAT...
DGAP-News: Achiko Ltd.: Achiko Limited announces confirmation of Chris...
DGAP-News: Achiko Ltd. / Key word(s): Personnel Achiko Ltd.: Achiko Limited announces confirmation of Christopher Young as Chief Operating Officer 26.11.2019 / 17:13 The issuer is solely responsible for the content of this announcement. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. Achiko Limited announces confirmation of Christopher Young as Chief Operating Officer Zürich, 26 No...
- Peter Thilo Hasler
Indonesia’s Leading Smart Payment Company
We are initiating research coverage of Achiko with a Buy recommendation and a USD 1.70 price target. Our target price is based on a discounted cash flow entity model (primary valuation method). Founded last year, Achiko is a holding company that acquires equity stakes in companies that provide consumers with secure and convenient e-payment solutions for purchasing digital goods. At the core of this business is the Indonesia-based Mimopay Group, a proprietary platform technology, which has provi...
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