Smart Calls with Smartkarma | ASEAN Trade & Turbulence: Resilience, Deals & Monetary Strength
ASEAN is splitting into two paths — with Vietnam, Singapore, and Malaysia standing out as the likely winners.
Manu Bhaskaran joins Pranav Rao to unpack:
• Why ASEAN trade has stagnated
• How CPTPP gives members a competitive edge
• The role of RCEP in regional trade flows
• Why central bank credibility will be critical amid global turbulence
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Read the full Insight - https://skr.ma/68g95
Manu Bhaskaran - http://on.skr.ma/4q8MPgH
This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
Smart Calls with Smartkarma | CEO Shake-Up Sends Temenos Shares Sliding
Temenos shares fell ~16% following the sudden departure of CEO Jean‑Pierre Brulard, just 16 months into the role.
Gregory Ramirez joins Pranav Rao on this Smart Call to unpack:
• What triggered the leadership change
• Whether Temenos has a structural succession issue
• If the board is acting decisively enough this time
• What KPIs to track as the company pushes forward on its strategic plan to 2028
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Read the full Insight - https://skr.ma/VkogW
Gregory Ramirez - http://on.skr.ma/4ghKGus
This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
Smart Calls with Smartkarma | Newborn Town (9911 HK): China’s Global Social App Exporter
Newborn Town is building an “App Factory” of export-only social and dating platforms—live streaming, voice chat, casual games—targeting the Middle East, Southeast Asia, and North America. Despite ~30–35% revenue growth and ~16% net margins, it trades at just 0.4x PEG compared to 0.8–1x peers.
Pranav Rao speaks with Raj S to unpack:
• Global expansion across digital verticals
• AI-driven operating leverage
• Valuation gap and re-rating thesis
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Read the full Insight - http://on.skr.ma/4lUV9wW
Raj S - http://on.skr.ma/4mJ6O3i
This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
Smart Calls with Smartkarma | Dongfeng Motor Privatization: Key Risks, Valuations & Timeline
Privatization premium. EV spin-off. What does the Dongfeng Motor (489HK) deal mean for investors?
Pranav Rao speaks with Arun George to unpack the offer structure, valuation upside, and key risks
• Strategic move to align with China’s auto sector consolidation
• Timeline stretches to 2026 with regulatory approvals and shareholder vote
Unpack what arbitrageurs need to know on the deal.
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Read the Insight - https://skr.ma/nFjNC
Arun George - http://on.skr.ma/45GirSC
This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
Smart Calls with Smartkarma | Kalyan Jewellers Under the Lens
Franchise expansion. Capital redeployment. What’s really behind Kalyan Jewellers’ growth strategy?
Pranav Rao speaks with Pranav Bhavsar, who flags key investor watchpoints from the latest earnings call
• Pause in debt reduction to free up real estate collateral
• Faster supplier payments without clear ROC impact
• Franchise model delivering lower margins vs peers
With the AGM approaching, investors have a prime chance to press management on their capital allocation decisions.
Like what you heard? Share this episode and follow us for more Smart Calls.
Read the Insight - https://on.skr.ma/4fBovPi
Pranav Bhavsar - https://on.skr.ma/4mLGg12
This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
Smart Calls with Smartkarma | Japanese Mid-Cap Banks: Interest Rate Winners
Steeper yield curve. Stronger net interest income. Cleaner balance sheets. Which Japanese banks stand to gain the most?
Pranav Rao speaks with Victor Galliano, who shares his bullish view on mid-cap Japanese banks and his top pick: Iyogin Holdings (5830 JP).
• 60%+ of market cap in cross-shareholdings, potential for shareholder returns
• 60% of loan book on floating rates, high gearing to rising interest rates
• Attractive valuations and low NPL ratio
Like what you heard? Share this episode and follow us for more Smart Calls.
Read the Insight - https://skr.ma/3rXHJ
Victor Galliano - http://on.skr.ma/4lpfqKK
This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
What’s driving the Ringgit’s weakness despite current account surpluses? And can reforms help stabilize it?
Pranav Rao speaks with Chan Kok Peng, who highlights key factors behind the Ringgit’s decline:
• Aggressive currency interventions signaling fundamental weakness
• Dwindling structural support from the current account
• Rising domestic shift to foreign currency deposits
Plus, a look at potential long-term reforms to support Malaysia’s balance of payments.
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Read the full free Insight - http://on.skr.ma/3J9BfAP
Chan Kok Peng - http://on.skr.ma/3Umvq5i
This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
Smart Calls with Smartkarma | Mid Cap Momentum: Picking Winners in India’s Equity Market
29.4% return. 90% hit rate. What’s the framework behind it?
Pranav Rao speaks with Dr. Manishi Raychaudhuri, who shares his three-pronged quant screen for identifying high-conviction mid-caps:
• Future earnings CAGR >10%
• PEG < 1.3
• Upgraded earnings + consensus buys
Thematic overlays (industrials, financials, healthcare) helped drive alpha—and reduce noise.
Like what you heard? Share this episode and follow us for more Smart Calls.
Read the full Insight - http://on.skr.ma/4fhK47B
Dr. Manishi Raychaudhuri - http://on.skr.ma/454sUHf
This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
Smart Calls with Smartkarma | Asian Terminals Unpacked: Growth Drivers and Market Outlook
Consistent volume growth. Recent double-digit tariff hikes. A stable duopoly with International Container Terminal Services, Inc. (ICTSI).
Despite this, Asian Terminals (ATI PM) trades at just 9x PE—with expectations of 30% earnings growth and a 7% dividend yield in FY25.
Pranav Rao speaks with Insight Provider Sameer Taneja to unpack:
• Price hikes at Manila South Harbor and Batangas Port
• Margin expansion and policy tailwinds
• Why the market may be mispricing ATI
Like what you heard? Share this episode and follow us for more Smart Calls.
Read the full Insight - https://skr.ma/oH8fD
Sameer Taneja - http://on.skr.ma/4m2aqMY
Asian Terminals - http://on.skr.ma/44TZkUN
International Container Terminal Services, Inc. - http://on.skr.ma/4kYISHr
This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
Smart Calls with Smartkarma | Henlius Biotech (2696 HK): Profitability, Global Momentum, and Pipeline Strength
Henlius is among the few Chinese biopharma firms to turn profitable—with solid fundamentals, expanding global approvals (incl. EU & Southeast Asia), and an active late-stage pipeline.
Pranav Rao speaks with Criss Wang to explore the long-term upside potential (~20–50%), key risks like biosimilar VBP, and what investors should watch as sentiment drives sector rallies.
Like what you heard? Share this episode and follow us for more Smart Calls.
Read Criss’s full Insight - https://skr.ma/fUAck
Criss Wang - http://on.skr.ma/4lZWC5A
Henlius Biotech - http://on.skr.ma/3IUTCJo
This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
Bright Smart Securities: Innovation, Ownership, and What's Next
With Ant Financial set to acquire a majority stake in Bright Smart (1428 HK), the Hong Kong brokerage could see a step-change in digital reach, operational strategy, and access to mainland capital flows.
In this Smart Call, Osbert Tang breaks down:
• What makes Bright Smart's model unique—from mobile trading to weekend branch access
• How the Ant deal could unlock tech synergies via ties to Alipay
• Why virtual asset trading and stablecoin licensing could reshape HK's brokerage landscape
Watch now for key insights on a mid-sized broker making bold moves in a shifting market.
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Osbert Tang - http://on.skr.ma/3IGP4Xi
Bright Smart Securities - http://on.skr.ma/4m6E3N6
This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
Smart Calls with Smartkarma | TFS IPO: Strong Margins. Hidden Risks.
Travel Food Services Limited (TFS) operates QSRs and lounges at India’s busiest airports, reporting high margins and ROEs of 30–35%. But behind the numbers lie structural concerns.
Pranav Rao speaks with Insight Provider Himanshu Dugar to unpack:
• TFS’s dominant footprint in India’s airport F&B and lounge segments
• How its ROEs stack up against other listed QSR players
• Increasing airport operator control via joint ventures
• Risks from changes in credit card-linked lounge access
• Why FY26 growth could be impacted despite current scale
• Expansion plans across Asia through SSP Group partnerships
Strong financials but limited control and shifting revenue models may challenge long-term visibility.
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Himanshu Dugar - http://on.skr.ma/3IJJ6ol
Disclaimer: This content is for informational purposes only and does not constitute investment advice.
Smart Calls with Smartkarma | From Crisis to Opportunity: Investing in China's Property Services
While headlines focus on China’s troubled developers, the country’s property management sector operates on a fundamentally different model: asset-light, cash-generative, and increasingly independent from distressed parents.
Pranav Rao speaks with Insight Provider Jacob Cheng to unpack:
• How property management differs from traditional real estate development
• The three key revenue drivers, including high-margin community services
• Two SOE-backed standouts: China Overseas Property and CR MixC
• Governance and related-party risks and examples investors should know
• How leading PM firms are decoupling from troubled developers and diversifying their income base
Like what you heard? Share this episode and follow us for more Smart Calls.
Jacob Cheng - http://on.skr.ma/44V40Z1
This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
Smart Calls with Smartkarma continues: Chinese Banks – Undervalued and Overlooked?
Trading at crisis-level valuations. Backed by 6–7% yields. Largely ignored by the market.
Are investors missing the turn?
In this conversation, Pranav Rao speaks with Insight Provider Rikki Malik to unpack:
• Signs of stabilisation in China’s property market
• NIM compression bottoming out after recent policy action
• Underappreciated tailwinds from Hukou reform and state support
• Dividend sustainability and recapitalisation realities
• Top picks across SOEs and joint-stock banks
• Remaining risks and how they’re being managed
With fundamentals improving and policy alignment taking shape, the sector may warrant a closer look.
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Rikki Malik - http://on.skr.ma/4lIAey1
This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
Smart Calls with Smartkarma continues, and this week, we dive into a deal that’s anything but straightforward.
This episode:
Inside ENN Energy’s Complex Takeover Deal
ENN Natural Gas is offering a mix of cash and newly listed A-shares to take over ENN Energy (2688 HK) but with limited visibility into valuation and an uncommon deal structure, minority shareholders are navigating a fair amount of uncertainty.
Pranav Rao speaks with Insight Provider David Blennerhassett to unpack:
• Why the deal structure is rare for Hong Kong
• What the market is (and isn’t) pricing in
• Valuation challenges and where the H-shares might trade
• Whether there’s room for a bump in terms
A vertical merger, opaque valuation, and a cautious minority, this one’s worth watching.
Like what you heard? Share this episode and follow us for more Smart Calls.
David Blennerhassett - http://on.skr.ma/44W60Am
This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
Smart Calls with Smartkarma continues, and this time, we go inside one of China's largest mining players.
This episode:
Inside Zijin Mining Group: From Copper Roots to Battery Metal Futures
With operations spanning 15+ countries, Zijin Mining (2899 HK) is expanding beyond copper and gold into lithium and battery metals, and the market may not be pricing in the shift.
Insight Provider Rahul Jain joins Pranav Rao to break down:
• The upcoming gold asset spinoff
• Lithium expansion plans in Argentina and China
• Risks tied to geopolitical exposure and how diversification offsets them
• What sets Zijin apart from global peers
A cash-generating, diversified player quietly positioning itself for the energy transition.
Like what you heard? Share this episode and follow us for more Smart Calls.
Rahul Jain - http://on.skr.ma/44FSlyu
This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
Smart Calls with Smartkarma is back — and we’re relaunching with a market anomaly hiding in plain sight.
This week’s call:
Svenska Handelsbanken: Arbitraging Brought to Book
The high-conviction idea?
SHB B shares trade at a ~55% premium to SHB A — despite lower voting rights, lower liquidity, and no index inclusion.
This extreme and statistically unjustified gap is now over +2 standard deviations from the historical mean.
In just 5 minutes, get the full picture:
• The dislocation
• The trade setup
• What could go right — and wrong
Long A, Short B — a rare shot at relative value in a blue-chip Nordic bank.
Hear directly from Pranav Rao and Jesus Rodriguez Aguilar as they break it down in this Smart Call.
Like what you heard? Share this episode and follow us for more Smart Calls.
Jesus Rodriguez Aguilar - http://on.skr.ma/4m5cFiD
This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
This collaboration between Smartkarma and Compounding Curiosity was created to surface the high-quality expertise and analytical strength of the Smartkarma Independent Investment Network, and leverage that into the popular podcast format we all know and love.
In this conversation, Kalani Scarrott covers eCommerce in Southeast Asia. From Sea’s struggles with Shopee, to the inevitable rise of TikTok shop.
Simon Torring is the Co-founder of Cube Asia, a market insights company for online retail in Southeast Asia. Cube Asia helps brands, retail companies, and investors drive profitable growth by leveraging more recent, granular, and reliable data and insights about their online sales channels.
For the full show notes, transcript, and links to mentioned content, check out the episode page on https://compoundingpodcast.com/ep64
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This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
In the next installment of our Webinar Wednesdays, we go live with Smartkarma Insight Provider, Jeroen Blokland. He will introduce the Macro-Sentiment-Valuation framework and we will take a look at the outlook of equities. Jeroen will also show us the rationale behind decisions to chase the year-to-date rally in equities. This is a shortened version of the full webinar. For the full-length episode, head on over to the Smartkarma platform, where subscribers get complete access to all webinar sessions and more.
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Jeroen Blokland is an all-round Multi-Asset investor. He is the former head of a EUR 5 billion multi-asset fund range, a speaker, and the founder of True Insights, a provider of independent investment research, trade ideas & well-diversified portfolios. Follow his work here.
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This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
In the next installment of our Webinar Wednesdays, we go live with Smartkarma Insight Provider, Hemindra Hazari. He will be sharing with us more about Disclosures and Governance in Indian Banks. From current opportunities, to what we can expect next in the space, join us as we get the full picture from Hemindra. This is a shortened version of the full webinar. For the full-length episode, head on over to the Smartkarma platform, where subscribers get complete access to all webinar sessions and more.
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Hemindra Hazari is a Securities & Exchange Board of India (SEBI) registered research analyst with over 25 years experience in the Indian capital markets with a specialization in banking and economy research and has managerial experience of establishing profitable equities business, leading and mentoring analysts. He has worked with prominent foreign and domestic capital market firms such as UBS, Societe Generale, HSBC, ASK Raymond James and Karvy Stock Broking and is a regular guest on business media channels and is respected for his non-consensus view on stocks and the market. Follow his work here.
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This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.
