Monday morning links
Monday morning links
Velesto Energy, TSMC, Naspers, Dusk Group, Cliff Asness, Harris Kupperman, Chinese restaurant sales
Yesterday, I published a report on Malaysian offshore drilling contractor Velesto Energy. The company owns six jack-up rigs used to drill for oil & gas in the shallow waters of offshore Malaysia. The company has suffered from the 8-year bear market in offshore drilling. There are now green shoots across the industry. Oil prices are high enough to incentivise capex, global rig charter rates are starting to creep up and key client Petronas is guiding that its demand for jack-up rigs will almost double in the next two years.
($ = behind a paywall)
My report on Malaysian rig owner and operator Velesto Energy (VEB MK－ US$148 million) ($)
Asianometry’s 2022 update on TSMC (2330 TT－ US$451 billion)
Horos Asset Management’s 2Q2022 letter with a few comments on Naspers (NPN SJ－ US$66 billion)
Macro Ops on Australian micro-cap Dusk Group (DSK AU－ US$98 million)
(estimated reading time)
Cliff Asness: Is value just a rates bet? (8 mins)
Florian Kronawitter: Is inflation over? (7 mins)
Kuala Lumpur-based AIMS Panah Fund’s 2Q2022 letter (35 mins)
Broyhill Asset Management’s presentation on tobacco stocks (54 slides)
Harris Kupperman’s market commentary in his 2Q2022 letter (12 mins)
Chartbook’s commentary on China’s current account surplus (13 mins)
Undervalued Japan Substack on Japan’s “Ohmi” trading culture (5 mins)
Asia Society: 2022, Xi Jinping’s Annus Horribilis: Or is it? (43 mins)
(listening time)
Eric Breckenfeld from the Semiconductor Industry Association explains what the world would look like in without access to Taiwanese chips (19 mins)
Smartkarma writer Henry Soediarko provides ASEAN trade ideas (25 mins)
Sri Lanka economist Anushka Wijesinha on the crisis in that country (37 mins)
EM strategist Nick Stadtmiller provides a scorecard for stronger and weaker countries within the EM universe, from the 13 min mark onwards (57 mins)
Herald van der Linde on the resilience of Asian banks during COVID (18 mins)
Variant Perception’s Tian Yang discussing how weak liquidity is putting the commodity super-cycle on hold (1:43 hours)
Josh Young explains why Buffett is investing in oil companies (1:11 hours)
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