Ramadan fasting ends around the end of the week and I suspect the Middle East war might actually start to escalate when the fasting and subsequent public holidays are done.
Already there is talk of severe impacts on agriculture (along with petrochemicals and plastics) given how much fertilizer comes from the Gulf region plus Russia/Belarus (the almond orchard on my parents’ property has already gotten some fertilizer; but for summer etc row crops, a fertilizer disruption will be serious). However, Latin American agriculture and related stocks could be winners…
The call center industry employed 2.8 million Americans in January 2024.
By December 2025, that number had dropped to 1.9 million.
That’s 900,000 jobs—gone in 24 months. Not outsourced. Not moved overseas. Just… eliminated.
Teleperformance SE (EPA: TEP / OTCMKTS: TLPFF), the world’s largest BPO company, announced in May 2025 that AI had replaced 38% of their customer service workforce. The stock initially surged 12% on the news. By November, it had crashed 47% from its peak as investors realized the same AI that replaced their workers would also replace their entire business model.
Teleperformance had a huge presence in the Philippines when I worked in Manila; but a journalist I know there who I just sent the link to said he has not heard of any mass layoffs in the Philippines (at least not yet…). The Philippines could be hit hard IF AI could actually can replace human customer service jobs (as Filipinos tend to be the best customer service agents) and the same could happen to India IF the AI “slop” replaces much of the software slop coming from there…
Fund views of the Middle East conflict, MakeMyTrip, investor interest in Latam picks up, int’l tech decouples from US tech, India’s trade dynamic, patent data & investors, Jan/Feb fund updates, etc.
$ = Behind a paywall / 🗃️ = Link to an archived article (Note: Seeking Alpha earnings/conference etc. presentations are typically not paywalled) / ⛔ = Article archiving may not be working properly
Japan and South Korea exposed to shortages of key component for plastics
In the past three days, Lotte Chemical (KRX: 011170) and LG Chem (KRX: 051910 / 051915) have also warned customers they may be unable to meet their contractual obligations.
The escalating military conflict involving the U.S., Israel and Iran has triggered a regional equities sell-off and sent oil prices soaring, though asset managers say they have not yet seen a large influx of safe-haven capital into Chinese markets.
Global markets have come under intense downward pressure after the U.S. and Israel launched a military strike on Iran on Feb. 28, disrupting passage through the Strait of Hormuz. By March 9, both West Texas Intermediate and Brent crude futures had surged to nearly $120 a barrel, while major Asian equity markets suffered steep losses. Japan’s Nikkei 225 fell 5.2%, and South Korea’s KOSPI dropped 6%.
Global companies could cut funding costs by up to 2% a year by increasing their use of Chinese yuan in corporate financing to better match their trade and operating exposure to the currency, according to a report by Standard Chartered.
The report, released Wednesday and based on a survey of nearly 300 large companies across 19 industries, found that while 23% of respondents’ revenue and 25% of their costs involve yuan exposure, only 14% of their debt is denominated in the currency. The gap suggests significant room to expand yuan use in global corporate funding.
A U.S. congressional committee has launched an investigation into three American brokerages over their roles in initial public offerings (IPOs) of Chinese companies that allegedly defrauded U.S. investors through market manipulation.
In letters sent Monday, the House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party demanded that D. Boral Capital, Dominari Securities and Revere Securities provide materials related to their underwriting of the IPOs. The committee, led by Chairman John Moolenaar and ranking member Ro Khanna, alleges the offerings were part of “ramp-and-dump” schemes in which share prices were artificially inflated after listing before collapsing, leaving U.S. retail investors with significant losses.
A congressional committee is putting small investment banks on notice that they could be held responsible for underwriting ‘pump-and-dump’ Chinese IPOs
A U.S. congressional committee has sent letters to three small investment banks looking into their potential role in underwriting suspicious IPOs by small Chinese companies
The move adds to an increasingly hostile environment on Wall Street towards Chinese companies, whose new IPOs there are rapidly dropping
The negative impact of U.S. tariffs on companies operating in China has reached its highest level since 2018, yet firms remain committed to investing in the country, according to a report released Tuesday by the American Chamber of Commerce in South China.
Some 69% of surveyed companies said U.S. tariff policy had a negative impact on their business in 2025, a 15-percentage-point increase from the previous year. Despite escalating trade friction, 45% of respondents named China their top global investment destination, up 6 percentage points.
The maiden annual earnings report from the world’s top EV battery maker since its Hong Kong IPO last year showed its profit significantly beat investor expectations
Contemporary Amperex Technology Co. Ltd. (CATL) (SHE: 300750) reported a 42.3% increase in net profit to 72.2 billion yuan ($10.5 billion) in 2025, as robust global demand for electric vehicle and energy storage batteries pushed its production lines to near full capacity.
The stellar financial performance underscores the persistent dominance of the world’s largest battery-maker during an industry upswing, which has prompted top-tier manufacturers to rapidly expand their production capabilities to meet surging orders stretching well into 2026.
After logging a bumper year in 2025, the semiconductor equipment maker is concentrating its resources on the chip packaging process
Chip equipment makerASMPT (HKG: 0522 / FRA: AY7A / OTCMKTS: ASMVF) recorded a profit of HK$1.08 billion last year, nearly quadruple the figure for 2025
Demand for AI chip packaging equipment helped to fuel a 146% revenue increase for the company’s thermo-compression bonding (TCB) equipment business
Baidu(NASDAQ: BIDU) reported mixed results for the period, reflecting a business undergoing structural transition as artificial intelligence becomes the central driver of its portfolio.
The company indicated that revenue from its core AI-powered activities continued to expand and represented an increasing share of the broader business, reaching more than two-fifths of general business revenue during the quarter.
Growth in artificial intelligence cloud infrastructure, digital human technology, and autonomous ride-hailing services contributed to this shift.
The enterprise services provider has suffered a downturn in its communications traffic and, under new ownership, is pinning its recovery hopes on an AI pivot
After tighter rules stalled a corporate messaging boom, Xuan Wu Cloud Technology Holdings Ltd (HKG: 2392) has predicted its loss for 2025 will be more than 50 times the shortfall a year earlier
Control of the company changed hands earlier this year when founder Chen Yonghui stepped down
The Chinese healthcare platform enjoys a thriving online pharmacy business and is investing heavily in AI tools, but powerful rivals are entering the same arena
Competitors such as Alibaba Health are piling into AI-assisted healthcare, while Meituan (HKG: 3690 / 83690 / SGX: HMTD / FRA: 9MD / OTCMKTS: MPNGF / MPNGY) has muscled into the market for on-demand drug deliveries
JD Health(HKG: 6618 / OTCMKTS: JDHIY)’s latest annual results show earnings are on the rise, but online pharmacy sales accounted for nearly 83% of revenue
🇨🇳 Full Truck Alliance(NYSE: YMM) – Digital freight platform connecting shippers with truckers to facilitate shipments across distance ranges, cargo weights & types.
The company’s revenue fell about 44% in the second half of last year, accelerating from a 29% drop in the first half
Dida (HKG: 2559)’s revenue tumbled by nearly half in the six months through last December, as it most likely slipped into the red during that period
The company’s challenges stem from its relatively small scale, an inefficient carpool ride-sharing model, and the rise of a new generation of open ride-sharing platforms
The company with strong ties to the Taiwanese Mandopop king swung into the red last year, blaming slower content launches and impaired trade receivables
Star Plus Legend Holdings Ltd (HKG: 6683 / FRA: VK1) said it lost up to 52 million yuan last year, reversing a profit of 50.2 million yuan in 2024
The company, closely tied to pop star Jay Chou, reported declining revenues for its IP business in the first half of last year, but has been aggressively diversifying since then
The conglomerate warned that impairment provisions tied to its real estate investments, along with other charges, caused its net loss to balloon last year
Fosun International (HKG: 0656 / FRA: FNI / OTCMKTS: FOSUF / FOSUY) lost up to 23.5 billion yuan last year, as it took major impairment provisions on its real estate holdings and intangible assets related to some non-core businesses
The warning reveals that despite years of downsizing, Fosun remains vulnerable to China’s prolonged property downturn
CK Hutchison Holdings (HKG: 0001 / FRA: 2CKA / OTCMKTS: CKHUY / CKHUF) has launched international arbitration to demand at least $2 billion from the Panamanian government after authorities forcibly seized two of its ports along the Panama Canal.
A unit of the Hong Kong conglomerate, Hutchison Ports PPC (PPC), said in a March 6 statement that it will relentlessly pursue full compensation for Panama’s severe breach of contract and anti-investor actions, refusing to settle for merely token remedies.
Cathay Pacific Airways Ltd (HKG: 0293 / FRA: CTY / CTYA / OTCMKTS: CPCAY / CPCAF) reported a 9.5% increase in annual profit for 2025, but the carrier is bracing for turbulence stemming from the conflict in the Middle East, which has forced the suspension of key routes and driven jet-fuel prices sharply higher.
Hong Kong’s flag carrier said profit attributable to shareholders rose to HK$10.8 billion ($1.4 billion) in 2025 as revenue climbed 11.9% to HK$116.8 billion, according to a filing Wednesday. The results reflect a continued recovery in air travel, with Cathay Pacific and its subsidiary HK Express carrying more than 36 million passengers, up 27% from 2024.
Growth in the Macau gaming sector’s earnings before interest, taxation, depreciation and amortisation (EBITDA) should accelerate in 2026, amid a “steady” competitive environment, and as operators increase focus on “cost optimisation”. So suggests investment bank UBS, in an update on the sector.
UBS estimates Macau’s market-wide casino gross gaming revenue (GGR) for full-year 2026 will track 5-percent growth year-on-year, while it thinks the sector’s adjusted EBITDA will rise circa 6 percent year-on-year. The latter had been flat in 2025.
Banking institution Citigroup says the Macau gaming industry is showing a “solid start” in terms of gross gaming revenue (GGR) in early March.
“Based on industry sources, Macau GGR for the first eight days of March is likely to have reached circa MOP5.65 billion [US$701.9 million],” wrote analysts George Choi and Timothy Chau in a Monday note.
“This implies a daily run-rate of about MOP706 million, circa 4-percent lower than the GGR run-rate in February 2026 – at MOP737 million a day –, but around 11-percent higher than that in March 2025, at MOP634 million a day,” they added.
According to the Citi team, a number of shows hosted by the city’s casino operators in early March contributed to the year-on-year increase in gaming revenue.
The Macau government collected approximately MOP94.85 billion (US$11.8 billion) in fiscal revenue from gaming in full-year 2025, up 7.6 percent from 2024, according to the latest data from the city’s Financial Services Bureau.
Macau’s casino gross gaming revenue (GGR) for calendar-year 2025 had reached MOP247.40 billion, up 9.1 percent year-on-year, according to separate figures from the city’s casino regulator. That was the highest annual GGR tally since the onset of Covid-19 pandemic in early 2020.
Macau casino operator SJM Holdings (HKG: 0880 / FRA: 3MG1 / KRX: 025530 / OTCMKTS: SJMHF / SJMHY)“has improved” its liquidityfollowing the refinancing of U.S. dollar notes in January this year, despite the company reporting “weak” fourth-quarter and full-year 2025 results, said Lucror Analytics, a Singapore-based specialist in credit research.
“The company’s cash balance of HKD2.0 billion [US$255.6 million] and available credit facilities of HKD3.6 billion as of end-2025 were sufficient to cover the two remaining note maturities in financial-year 2026,” wrote Lucror senior credit analyst Leonard Law in a note carried on the Smartkarma platform.
Hong Kong-listed Asia Pioneer Entertainment Holdings Ltd (HKG: 8400) has said it expects to record a net profit of approximately HKD7.5 million (US$958,500) for full-year 2025. That would represent a 97.3-percent increase from the HKD3.8-million profit reported in 2024, according to a Wednesday filing.
The company also said that, based on the preliminary figures, it expected to record revenue of circa HKD65.8 million in 2025, up 29.5 percent as compared to revenue of approximately HKD50.8 million in the previous year.
The group, via its Asia Pioneer Entertainment arm, is authorised to distribute electronic gaming equipment in Macau, and also provides such technology to land-based casinos in other parts of the Asia-Pacific region. The group also runs a smart vending machine business.
Hong Kong-listed casino equipment maker Paradise Entertainment Ltd (HKG: 1180 / FRA: LIL3 / OTCMKTS: PDSSF) says it expects to record a profit of HKD139.4 million (US$17.8 million) for full-year 2025. That would be down HKD242.5 million, or 63.5 percent, from the previous year, the company said in a Monday filing.
The firm stated the expected decline in profit was mainly due to: a decrease of HKD85.2 million, or 11.9 percent year-on-year, in the group’s revenue from the provision of casino management services in Macau; and a fall of HKD165.5 million, or 45.3 percent from the previous year, in revenue from the sale and/or leasing of electronic gaming equipment and systems.
Another factor impacting profitability was a HKD42.1-million payment to its employees and reimbursement to SJM Resorts Ltd for gaming-operation staff employed by SJM Resorts who worked for Casino Kam Pek Paradise. It is anticipated this payment will be charged to Paradise Entertainment’s consolidated financial statements as expenses for employees’ compensation and benefits, the company stated.
Non-China supply chain premium is real and growing: European buyers are willing to pay 30–50% more for Taiwanese drone components, with mandates for zero China-sourced content increasingly common for sensitive applications.
Batteries are the critical bottleneck: Chinese battery cells remain far ahead on price and energy density; this is the single largest obstacle to building a fully non-Chinese drone supply chain.
Low barriers to drone assembly, high barriers to differentiation: A striking number of firms offered complete drone solutions built from off-the-shelf components. Value is shifting toward batteries, software, and edge AI.
Sharp swings are a reminder to Seoul that its reform agenda is incomplete
President Lee Jae Myung, who won elections last year, has prioritised stock market reforms to drive economic growth. He deserves credit for tackling the power of large companies. Last July a law passed making it a legal duty for directors to consider the interests of all shareholders rather than just the company. In late February an amendment was approved requiring companies to cancel newly acquired treasury shares within a year, ending a practice that investors say has helped owner families maintain control.
Coupang, Inc. (NYSE: CPNG)’s latest quarter reflected a business with durable operating strengths but also a clear near-term disruption tied to the late-2025 data incident.
Management indicated that Product Commerce revenue growth slowed materially as customer behavior weakened in December, with constant-currency growth falling below the prior quarter and bottoming in January before beginning to improve in February.
Active customers and WOW membership were also affected, with elevated churn and softer account activity during the period.
In this insight, we discuss the top 9 Korean companies to benefit from the rapidly growing global demand for multiomics [Genomics] as described by Cathie Wood at ARK Investments.
Cathie Wood is often called 돈나무 in Korea which is translated as “money tree.” Cathie Wood has selected multiomics as one of top five sectors that could shine in 2026.
It may be worthwhile to keep careful watch on these 9 companies, especially as the economics of multiomics continue to favor these companies by lowering the multiomics data costs.
Love her or hate her, one thing is for sure which is Cathie Wood is followed heavily among Korean investors (including millions of retail ant investors). ARK Investments recently published its annual “BIG IDEAS” presentation for 2026. The 5 Core Innovative Platforms that ARK Investments highlighted for 2026 include Artificial Intelligence (AI), Robotics, Energy Storage, Public Blockchain, and Multiomics.
South Korea’s Kangwon Land (KRX: 035250), operator of a resort with the country’s only casino that allows betting by locals, says it will begin in April a two-year, KRW200-billion (US$135.4-million) programme of hotel- and condominium-room renovation involving 757 units at the complex (pictured).
The work will cover circa 41 percent of Kangwon Land resort’s current 1,827 guest-accommodation units.
According to a company statement on Monday, the upgrades are due to be completed in time for the inauguration of a second casino venue at Kangwon Land in the first half, 2028.
The operating unit for Jeju Dream Tower (pictured), a resort with foreigner-only casino on Jeju Island, South Korea, plans a cash dividend of KRW27,735 (US$18.7) per share for Korea Exchange-listed Lotte Tour Development (KRX: 032350).
The dividend – totalling KRW110.94 billion – would come from the 2025 retained earnings of LT Entertainment Co Ltd, a wholly-owned subsidiary of Lotte Tour, the resort’s developer and promoter. The information was in a Wednesday filing by Lotte Tour.
The dividend is currently pending final approval, but is due to be paid on March 26, the filing said.
The company faces a fork in the road in the coming days – either delisting or real evidence of corporate governance improvement that could rejuvenate its share price.
We like the risk-reward of having a Positive Outcome on Samchuly Bicycle with the company’s improving shareholder return policies and Chairman Kim potentially being removed from management position.
SK Inc(KRX: 034730 / 03473K) announced that it will cancel about 4.8 trillion won ($3.3 billion) worth of treasury shares, representing about 20.3% of its outstanding shares.
This should have a big positive impact on SK Inc’s share price. The treasury shares cancellation date is scheduled for 4 January 2027.
Our updated NAV valuation suggests target NAV per share of 662,130 won, which is 82% higher than current price.
Samsung Electronics (KRX: 005930 / 005935 / LON: BC94 / FRA: SSUN / OTCMKTS: SSNLF) announced that it plans to cancel approximately 87 million of its 105.43 million treasury shares held as of the end of 2025 within the first half of 2026.
This represents 82.5% of treasury shares and 1.5% of its outstanding shares. Based on the closing price of Samsung Electronics on 10 March, this represents nearly 16 trillion won.
This should have a positive impact on Samsung Electronics’ share price, albeit the overall positive impact should be less than that of SK Inc(KRX: 034730 / 03473K).
On 10 March, E-Mart (KRX: 139480) announced that it will conduct a stock swap with Shinsegae Food Inc (KRX: 031440) at a ratio of 1:0.5031313 to delist the company.
The stock swap ratio applied a 3.0% premium to Shinsegae Food’s base market price to protect minority shareholders.
This stock swap is the final step in E-Mart’s incorporation of Shinsegae Food as a wholly owned subsidiary. The shareholder confirmation date is 25 March.
On 10 March, Kcc Corp (KRX: 002380) announced that it plans to cancel about 1.17 million shares of treasury shares, representing 13.2% of its outstanding shares (8.89 million shares).
The fact that the company is also considering on securitizing (selling) its stake in Samsung C&T Corp (KRX: 028260 / 02826K) and also re-establishing shareholder friendly policies are also positive signs.
Our updated NAV analysis of Kcc Corp (002380 KS) suggests NAV per share of 813,922 won, representing 59% upside from current levels.
On 11 March, Hanwha Corporation (KRX: 000880 / 00088K) announced that it plans to cancel 4.45 million treasury shares (5.9% of outstanding shares) on 9 April.
This share cancellation should have a positive impact on Hanwha Corp’s share price by raising its EPS and ROE. It will also raise the overall ownerships of existing shareholders.
Our updated NAV valuation of Hanwha Corp is 253,573 won (96% higher than current price). The largest portion of Hanwha Corp’s value is its 34% stake in Hanwha Aerospace (KRX: 012450).
On 12 March, Korean Reinsurance Company (KRX: 003690) announced that its BOD has decided to cancel 18.1 million shares (valued at 245.4 billion won and 9.3% of outstanding shares).
This large scale share cancellation should have a positive boost on Korean Re’s share price as it improves ROE and EPS, and raises the ownership levels of existing shareholders.
Korean Reinsurance Co (003690 KS) is the largest reinsurance company in Korea.
It has been reported that Hanwha Group affiliates including Hanwha Aerospace (KRX: 012450), Hanwha Systems Co Ltd (KRX: 272210), and Aero USA purchased a combined amount of 4.99% stake in Korea Aerospace Industries.
We estimate about 60-70%+ probability that KAI could be privatized in the next 3-5 years.
If Hanwha Group acquires the controlling stake in KAI, this could be a major positive move for the Hanwha Group’s efforts to accelerate the creation of Korea SpaceX.
Bookook Securities Co Ltd (KRX: 001270 / 001275) announced that it will cancel 3.74 million common shares (36% of common shares) and 36,340 preferred shares (1.2% of preferred shares) from March 2026 to July 2027.
This is the largest ever share cancellation for Bookook Securities since founding of the company.
Bookook Securities had net cash of 1.2 trillion won at the end of September 2025, representing 133% of its market cap.
The controlling shareholders of global casino group Genting Malaysia(KLSE: GENM OTCMKTS: GMALY / GMALF) have moved closer to the 75 percent threshold for taking private the Bursa Malaysia-listed firm. The parent Genting Berhad(KLSE: GENTING / OTCMKTS: GEBHY) now holds 73.859 percent of Genting Malaysia.
The change was a result of action encompassing open-market purchases of Genting Malaysia’s stock, with a consideration of MYR1.97 (US$0.50) per share mentioned in certain filings, all of which were announced on Friday.
The cost of acquiring some additional stock was at a lower premium per share than had been outlined when, in mid-October, the parent Genting Bhd made a circa US$1.59-billion offer to acquire all shares in Genting Malaysia that it didn’t already own.
The Malaysian public is already reacting with some concerns about the prices of subsidised RON95 and diesel, with the escalation of the war in the Middle East. Fortunately, being a net exporter, Malaysia is in a good position with oil and gas. There should be some buffer for Malaysia with the disruptions in the Strait of Hormuz and broader Middle East instability. With Brent crude prices expected to rise over USD 100, Petronas should experience more revenue through higher prices, which could boost government revenue. However, on the spending side, the fuel subsidy bill for RON95 could strain the budget in the short term.
Of greater concern will be the effects of the war on the global economy. If global demand decreases and a recession sets in, this could impinge on Malaysian exports. Malaysia will not be immune to global volatilities. Exports are a very important component of GDP growth. Exports make up between 68 and 71 per cent of GDP. The disruption to global supply chains, particularly in semiconductors, petroleum products and palm oil, will be important to watch.
Likewise, a rise in the costs of commodities like wheat, corn, and soybeans could drive up costs for food items, which include bread, poultry feed, and eggs. The cost of transport logistics is set to rise, as they are disrupted by the war. This will have some effect on the cost of living, with a resurgence of inflation. There could be a downward movement in GDP growth later in the year if the war continues.
Geopolitical tensions can shake markets, but some businesses remain resilient. These five Singapore stocks could be worth watching as global uncertainty rises.
Investors seeking to benefit from rising energy prices should look closely at Nam Cheong.
As a key player in the offshore energy supply chain, the group builds and manages the specialised vessels required for offshore oil and gas exploration and production (E&P) and oil services industries.
This Singapore-listed fintech just crossed the S$100 million net profit mark for the first time — and told shareholders to expect a 25% dividend increase in 2026. Here are five things you should know.
The numbers behind AEM’s remarkable 2026 rally: AI-driven revenue growth, a dramatic free cash flow turnaround, and the return of a dividend after a three-year absence.
AEM Holdings (SGX: AWX), the Singapore-listed semiconductor test solutions provider, has surged over 90% year to date in 2026.
And for once, the excitement appears warranted.
Behind the share price run is a genuine operational turnaround: record free cash flow, a cleaner balance sheet, and the reinstatement of a dividend after a three-year drought.
Here are five things investors need to know.
1. AI demand is driving real revenue growth
2. Free cash flow staged a dramatic turnaround
3. The balance sheet swings to net cash
4. Dividend reinstated for the first time since 2022
5. Margins remain the unresolved question
Get Smart: Watch the margins, not just the revenue.
ST Engineering has long been viewed as a defensive Singapore blue chip – but does its business model still offer stability in today’s volatile global environment?
However, given increasing market volatility and with its share price up 84% over the past year, is the company’s valuation compelling at current levels?
Business Overview
Recent Performance
Why ST Engineering Is Often Seen as a Defensive Stock
Growth Drivers Going Forward
Key Risks Investors Should Watch
Get Smart: A Best-in-Class Blue Chip with Premium Valuation
Singapore banks have surged, leaving some investors feeling left behind. But rallies often create new opportunities elsewhere, and these three stocks could offer a different path forward.
We’re only in the first innings of the AI revolution, which has led to explosive demand for chips, power, and data centre infrastructure. Keppel DC REIT, which owns a portfolio of data centres, could be one of the beneficiaries.
Seatrium, which provides engineering solutions to the global offshore, marine and energy industries, should see its earnings rise significantly in the year ahead, providing investors who put in money now with an uplift in the share price over the longer term.
For long-term investors, property stocks combine resilient income, strong assets, and accessibility that physical real estate often cannot match.
Here are three key categories worth watching in 2026.
New Economy Property Stocks Growing Their Rental Income
Resilience in Retail and Commercial Buildings
The Recovery is Just Gaining Momentum
While some REITs were severely impacted by the high-interest-rate environment, signs of stabilisation are emerging. Manulife US Real Estate Investment Trust (SGX: BTOU / OTCMKTS: MNULF) is currently undergoing a significant “Recapitalisation Plan”.
UIB REIT joins the SGX on 12 March. We break down the six key facts for income investors.
But when a Macquarie-backed fund manager teams up with Boustead Projects to launch a New Economy industrial REIT offering a 7.8% yield, it is worth a closer look.
Here are six things dividend investors should know before the opening bell.
1. Who Is Behind It
Unified Industrial (UI) is a real estate fund manager backed by Macquarie Asset Management, with a focus on high-quality industrial and logistics properties in Japan and China.
Its partner, Boustead Projects, is the real estate arm of Boustead Singapore (SGX: F9D / OTCMKTS: BSTGF) – a name familiar to most SGX investors.
Estimated one-way turnover is 10.55% and that results in a round-trip trade of US$121m. There are a few stocks with more than 1x ADV to buy from passives.
There is a high probability of Vietnam stocks being added to a global index starting from the September rebalance and the market could outperform its regional peers.
On March 10–11, 2026, President Trump announced Reliance Industries Limited(NSE: RELIANCE / BOM: 500325)will back America First Refining’s new 60-million-barrel-per-year refinery at Brownsville-Port, Texas, the first greenfield US refinery in nearly 50 years.
This exposes a structural contradiction in US energy: record light shale crude production, but a legacy Gulf Coast refinery fleet engineered for heavy crude it can no longer reliably access.
For RIL, Brownsville is a capital-light O2C growth lever disguised as a geopolitical favor. The deal locks in 20 years of offtake at scale, deepens the US-India strategic energy corridor.
Financialisation Tailwind: India’s mutual fund AUM has crossed Rs 82 lakh crore and penetration at roughly 21% of GDP remains far below the global average.
Global fiber optic cable demand is entering a structural upcycle driven by 5G densification, AI data center buildouts, and national broadband mandates.
The India OFC story is early-cycle, policy-backed, and supply-constrained. With BharatNet Phase III, 5G backhaul demand, AI-driven data center, the next 36-months could be defining for Indian fiber cable manufacturers.
Uzbekistan has recently been attracting growing attention from investors.
One reason is the country’s remarkable demographics. With a fertility rate of 3.5 children per woman – far above the replacement level of 2.1 – Uzbekistan has one of the fastest-growing populations outside Africa.
When the people of a nation with a 100% literacy rate decide to have many children, it’s usually a sign that they are optimistic about the future of their country.
Does this optimism translate into promising investment opportunities?
Recent developments suggest it may be worth taking a closer look.
Budget airline’s chief says crisis is ‘more manageable’ than others after forecasting €50mn hit to bottom line
Wizz Air(LSE: WIZZ / OTCMKTS: WZZZY / FRA: WI20 / FRA: WI2) has been hit by an “aggressive” wave of short selling after the budget airline warned that the Iran war would wipe out its profits this year, exacerbating concerns over its ability to compete with larger rival Ryanair.
🇪🇺🏛️PKO Bank Polski (WSE: PKO / FRA: P9O) or Powszechna Kasa Oszczednosci Bank Polski SA – Poland’s largest bank founded one of the largest groups of financial institutions the CEE. 🇼🏷️
Tier 1 (Input Cost Beneficiaries): Vittia SA (BVMF: VITT3) and Fertilizantes Heringer SA (BVMF: FHER3) are potential winners of the fertilizer crisis. Vittia’s biological inoculants become more attractive to farmers when synthetic nitrogen is scarce and expensive. This is basically a thesis based on import substitution. Heringer, as a fertilizer blender and distributor, earns wider margins during rapid price increases as inventory values appreciate between purchase and sale.
Tier 2 (Direct Crop Price Beneficiaries): SLC Agricola SA (BVMF: SLCE3 / FRA: GJ9 / OTCMKTS: SLCJY), Adecoagro Sa (NYSE: AGRO), and Brasilagro – Co Brasileira De Proprieda (NYSE: LND / BVMF: AGRO3 / FRA: 52BA) are pure-play farming operations with the most direct leverage to rising soybean, corn, and wheat prices. SLC is the largest and most liquid domestic name in the list. Adecoagro adds geographic diversification (Argentina and Uruguay) and exposure to sugar and ethanol. BrasilAgro offers unique optionality via its land transformation model, where rising commodity prices increase both operating income and underlying land values simultaneously.
Tier 3 (Downstream and Land Value): Cresud Sa (NASDAQ: CRESY) provides Argentine wheat and land-banking exposure. Sao Martinho SA (BVMF: SMTO3) and Cosan SA (BVMF: CSAN3 / NYSE: CSAN) capture the sugar/ethanol complex, which benefits from both higher sugar prices and rising oil/energy prices (ethanol as a substitute fuel). Minerva Sa (BVMF: BEEF3) captures the protein chain. Higher grain prices initially compress feed margins, but rising food prices overall benefit protein producers, and South American grass-fed beef has lower grain dependency than US feedlot operations.
The Paloma Valencia surge vs the de la Espriella bubble
For today’s newsletter, I owe a lot of credit to Sergio Guzmán of Colombia Risk Analysis. We’re friends, and we trade news and memes almost daily on WhatsApp. And he and I share a lot of analysis about Colombia and Latin America. The memo he sent to clients and subscribers yesterday certainly shaped some of my views as I wrote my newsletter today. So while everything below is my own analysis (don’t blame him for things I get wrong!), there is inevitable overlap between Sergio and me. Be sure to reach out to Sergio directly if you want to receive an in-depth briefing or regular coverage of this Colombian election.
Not a two way race. One of the points I made repeatedly during my meetings in Cartagena and Bogotá last week was that the Colombian presidential race is not simply Cepeda vs de la Espriella. Sunday’s results validated that take and anointed a clear third candidate for the moment.
Vista Energy(NYSE: VIST / FRA: 1CIA / BMV: VISTAA), an independent oil producer, reported its fourth quarter and full-year 2025 financial results, marking a transformative year for the company with several significant developments.
During the quarter, the company’s total production reached 135,000 barrels of oil equivalent per day (BOE/d), representing a robust year-over-year increase of 59% and an 8% sequential increase in oil production.
Total revenues were reported at $689 million, a 46% increase compared to the same period last year, although slightly below the previous quarter due to lower oil prices.
The call center industry employed 2.8 million Americans in January 2024.
By December 2025, that number had dropped to 1.9 million.
That’s 900,000 jobs—gone in 24 months. Not outsourced. Not moved overseas. Just… eliminated.
Teleperformance SE (EPA: TEP / OTCMKTS: TLPFF), the world’s largest BPO company, announced in May 2025 that AI had replaced 38% of their customer service workforce. The stock initially surged 12% on the news. By November, it had crashed 47% from its peak as investors realized the same AI that replaced their workers would also replace their entire business model.
🌐 Nebius Group NV (NASDAQ: NBIS) – AI-centric cloud platform built for intensive AI workloads. Sold Yandex to a consortium of Russian investors. Retains several businesses outside of Russia. 🇼🏷️
Note: Investing.com has a full calendar for most global stock exchanges BUT you may need an Investing.com account, then hit “Filter,” and select the countries you wish to see company earnings from. Otherwise, purple (below) are upcoming earnings for US listed international stocks (Finviz.com):
Frontier and emerging market highlights from IPOScoop.com and Investing.com (NOTE: For the latter, you need to go to Filter and “Select All” countries to see IPOs on non-USA exchanges):
Note: This is NOT an IPO. This is a NASDAQ uplisting from the OTC Markets Group – a public offering of 1.5 million shares at an assumed public offering price of $4.00 – to raise $6 million. The last reported sale price of Hartford Creative Group’s stock on the OTC Market was $4.50 on Dec. 12, 2025, according to the prospectus.
(Incorporated in Nevada)
Disclosure: “We currently have three subsidiaries located in the People’s Republic of China (the “PRC” or “China”), and some of our executive officers and directors are located in or have significant ties to China. These ties to China present legal and operational risks to us and our investors, including significant risks related to actions that may be taken by China in the areas of regulatory, liquidity and enforcement, which exist and could affect our current operations and the offering of our securities. For example, if these ties were to cause China to view us as subject to their regulatory authority, China could take actions that could materially hinder or prevent our offering of securities to investors and cause the value of such securities to significantly decline or be worthless.”
Hartford Creative Group, Inc. (“HFUS,” “we,” “us,” or “Company”) specializes in delivering marketing solutions tailored to businesses of small and medium-sized enterprises (SMEs). Our suite of precision marketing services offers cross-media strategies that enable advertisers to effectively target and engage audiences across premier media platforms. We leverage our interconnecting network and keen insights into market demands to develop and implement bespoke marketing initiatives. These initiatives encompass the design, placement, monitoring, and optimization of advertising campaigns.
Navigating the intricate landscape of the modern marketing and sales value chain presents numerous challenges, particularly for enterprises lacking the necessary expertise. Many struggle with creating ample marketing content, devising effective strategies, converting leads, and managing customer relations—tasks made more daunting by the sheer volume of use cases across diverse marketing channels. According to the publication Digital Transformation Market Size, Share, Growth & Trends Analysis Report By Solution, By Deployment, By Service, By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2024 – 2030, the global digital transformation market size was estimated at USD 880.3 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 27.6% from 2024 to 2030. With 1.02 billion internet users and the world’s largest social media population, China’s growing economy, booming technology sector, and thriving e-commerce scene make it one of the most intriguing markets in the world today. Social media has long been one of the most important communication channels in China, with the country having the world’s largest number of social media users at over 983.3 million as of November 2024.
The pent-up demand from social media influencers’ marketing needs on social media apps led the Company to seize the opportunity in providing precise marketing services. As an advertising collaborator of China’s major social media markets, we aim to provide customers with vertical integration services, from early-stage such as advertising video creation, photography and editing, to advertising operation and management on social media apps. Furthermore, we plan to initiate TikTok advertising campaigns overseas and equip our Chinese clientele with the tools to penetrate international markets, including the United States.
We have been committed to building an efficient sales network and mechanism to achieve effective customer coverage and sustainable growth. We seek to maintain mutually beneficial relationships with customers and have gained the trust of many customers across a spectrum of industries, presenting us with further cross-selling and up-selling opportunities. We have built a diversified customer base with a strong willingness to pay. During fiscal year 2025, we have secured advertising service agreements with about 43 customers and received approximately RMB 279.9 million (USD 38.8 million) from these customers. We also entered about 53 supplier contracts for advertising placement and paid RMB 262.6 million (USD 36.4 million) during fiscal year 2025.
During the year ended July 31, 2025, we reported net revenues of $2.0 million, compared to $1.4 million for the same period of 2024, reflecting the launch of our advertising business in January 2024. Net income was $1.1 million, or $0.04 per share, for both the years ended July 31, 2025 and 2024. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations” for further discussion.
Based on market research and discussions between the board and third-party suppliers and experts, the Company has further developed a plan of mini-drama business. The Company is strategically positioned to capture considerable market interest and enhance revenue streams from our innovative mini-drama business. While initial steps toward this ambitious goal have been initiated, it is important to note that the commencement and future success of the mini-drama venture are not yet guaranteed.
Our mission is to excel as the premier partner for enterprises worldwide, driving digital and intelligent transformation with unparalleled expertise and commitment.
Note: Net income and revenue are in U.S. dollars for the fiscal year that ended July 31, 2025.
(Note: Hartford Creative Group, Inc. has applied to uplist its stock to the NASDAQ from the OTC Markets Group – and in conjunction with that goal – the company is offering 1.5 million shares at an assumed public offering price of $4.00 per share – to raise $6.0 million, according to an SEC filing – a post-effective amendment – dated Dec. 16, 2025. Background: Hartford Creative Group started its NASDAQ uplisting/public offering process with a plan to offer up to $10 million of stock at an assumed public offering price of $4.00 per share – in an S-1 filing dated Feb. 24, 2025.)
Headquartered in Tokyo, Japan, we are an international recycling company dedicated to advancing sustainable material solutions across East Asia and Southeast Asia. As a committed advocate for environmental sustainability, we have devoted ourselves to promoting the development of a low-carbon and zero-waste global green circular economy by engaging in the trading of recyclable resources such as waste paper and scrap metal.
Our operations are structured around two core business segments: waste paper recycling and scrap metal recycling.
Under our waste paper recycling business, we operate across both the domestic Japanese and international markets by trading two main product categories: waste paper and paper pulp. We source waste papers from collection companies in Japan and supply them to recycled pulp mills or trading companies. In parallel, we purchase paper pulps from recycled pulp mills and supply them to paper manufacturers or trading companies. While our waste paper transactions are primarily domestic, our paper pulp exports serve a broad customer base across East Asia and Southeast Asia.
We also conduct cross-border transactions under our waste paper recycling business by procuring waste paper from suppliers in the U.S. and arranging for direct shipments to pulp mills or paper manufacturers in Malaysia.
Our scrap metal recycling business focuses on the trade of dismantled metal wires and old metal appliances such as motors, engines, air conditioners and refrigerators. For old metal appliances, we acquire these materials from collection companies and supply them to smelters or trading companies, while for dismantled metal wires, we purchase processed and dismantled metal wires such as copper wires, aluminum wires, brass wires and iron wires, from dismantling factories, and then sell them to smelters, or trading firms. While the operations under our scrap metal recycling business are primarily concentrated within Japan due to the heavier nature of these materials, we also export a portion of our dismantled metal wires to our customers in East Asia and Southeast Asia.
For export transactions, we manage the full logistics chain from supplier pickup and port delivery to international shipping, allowing us to ensure timely and cost-effective deliveries.
Note: Net income and revenue are for the fiscal year that ended March 31, 2025.
(Note: Seahawk Recycling Holdings, Inc. nearly doubled the size of its small IPO to raise $19 million – up from $10 million originally – according to its F-1/A filing on Jan. 7, 2026. Seahawk Recycling Holdings now plans to offer 3.75 million shares – up from 2.0 million shares originally – at the price range of $4.00 to $6.00 (same price range as in its initial filing) – to raise $18.75 million, according to its F-1/A filing dated Jan. 7, 2026. Background: Seahaawk Recycling Holdings, Inc. filed its F-1 for its small-cap IPO and disclosed the terms: 2 million shares at a price range of $4.00 to $6.00 to raise $10 million, according to its SEC filing on Sept. 25, 2025.)
DT House Ltd.DTDT American Trust Investment Services, 5.0M Shares, $5.00-5.50, $26.3 mil, 3/23/2026 Week of
(Incorporated in the Cayman Islands)
DT House Ltd. is the holding company of UHAD, UHHK and UFox, our wholly owned subsidiaries. We are headquartered in the UAE.
We began with the establishment of UHHK in 2020. We provide corporate consultancy services in the UAE and Hong Kong on environmental, social and governance (ESG) themes. As part of that work, we provide travel-related services for leisure travelers in the UAE, which includes primarily the sale of tickets to tourist attractions. Our clients are public companies in the United States and Hong Kong, as well as small and medium-sized enterprises and private corporations in the UAE, Hong Kong and Southeast Asia. We have our own AI-driven cloud-based software program.
In June 2024, we launched our travel-related services by acquiring UFox, a company principally engaged in travel-related services in the UAE, with a particular emphasis on eco-friendly and sustainable travel practices. UFox maintains close business relations with various organizations in the MENA Region such as the Union of Overseas Chinese in Saudi Arabia. We believe that our travel-related services could potentially bring about a synergistic effect with our corporate consultancy services if we follow the same set of ESG principles in both segments. Our current plan is to design travel programs based on the sustainable travel concept, such as using alternative transport modes with lower carbon footprints and partnering with eco-friendly hotels.
We offer customizable and hassle-free sustainable travel experiences. Our clients can customize their own tours or subscribe to services on a segmented basis. The major customers of our travel-related services are two online leisure travel platforms, namely, Trip.com Group Limited (Nasdaq: TCOM) and Fliggy international platform (fliggy.com, a member of Alibaba Group (NYSE: BABA) and an online marketplace of tourism products).
Note: Net income and revenue are in U.S. dollars for the 12 months that ended Sept. 30, 2025.
(Note: DT House Ltd. more than doubled its IPO’s size – to 5.0 million shares – up from 2.0 million shares – in an F-1/A filing on Jan. 20, 2026 – after the previous IPO plan was withdrawn, at the company’s request. The new price range is $5.00 to $5.50 – an increase from the previous range of $4.00 to $5.00.. Under the new terms, DT House Ltd. would raise $26.25 million, if the IPO is priced at $5.25, the mid-point of its new range. Background: DT House Ltd. increased its IPO’s size to 2.0 million shares – up from 1.875 million shares initially – and kept the price range at $4.00 to $5.00 – to raise $9.0 million, according to its F-1/A filing dated Oct. 24, 2025. DT House Ltd. has also named American Trust Investment Services as the sole book-runner, replacing Revere Securities. Background: DT House Ltd. filed its F-1 on March 3, 2025, and disclosed the terms for its IPO: The company is offering 1.875 million shares at a price range of $4.00 to $5.00 to raise $8.44 million, if priced at the mid-point of its range.)
We are a luxury vehicle exporter. Through our subsidiary, Hillhouse Capital Group, we run a vehicle export business that specializes in finding premium vehicles in the U.S. and facilitating their shipment to Hong Kong to our client, who distributes the vehicles to its clients in the People’s Republic of China (PRC).
In 2024, Hillhouse Capital Group did 67 vehicle transactions, including 34 with authorized dealerships and 33 with independent dealers. We worked with 15 purchasing agents.
We specialize in exporting U.S. luxury vehicles having MSRPs of at least $80,000, targeting affluent consumers and dealers seeking premium luxury brands, such as Mercedes-Benz, BMW, Audi and Cadillac. Unlike smaller industry participants—typically family-run businesses that rely on informal sourcing networks—we operate through a structured purchasing model with authorized dealerships (i.e., purchasing from them through their designated purchasing agents) and independent dealers, ensuring a stable and scalable supply chain.
Fenglong Ma has served as our CEO and our chairman of the board since October 2022. He is a seasoned entrepreneur in international trade and automotive sales. He founded our company in October 2022, leading its strategy, operations, and entry into automotive exports. Previously, he co-founded Qingdao High-End Vehicle Trading Co., and served as general sales manager from January 2020 to September 2022. He was responsible for sales, market expansion, and supply chain management of high-end imported vehicles, establishing strong global partnerships and optimizing procurement processes. He received an associate degree in business management from Mudanjiang Forestry Vocational and Technical College. Mr. Ma is a citizen of the PRC and currently resides in the PRC.
Zheng Wen Tong has served as our chief operating officer since November 2024, overseeing vehicle procurement, logistics, and financial transactions. She has extensive experience in automotive trade and supply chain management. Before this, she was an office manager at TW&EW Service from April 2024 to October 2024 and was employed by Wave Capital Management from January 2022 to March 2024, where she oversaw administrative and supply chain operations. From January 2020 to March 2020, she served as an office manager at Luxury Unlimited Group. She received a diploma in accounting from Shanghai Business Trade College in July 1994. Ms. Tong is a citizen of the United States and currently resides in the United States.
Chihyuan Lin has served as our CFO since February 2025, overseeing financial strategy and operations. He is an experienced financial executive with expertise in strategic financial management, accounting, and SEC reporting. Before joining us, he founded Linck Consulting Inc. in September 2024 and has been serving as its CEO, providing accounting and tax consulting services. From September 2023 to September 2024, he worked as a consultant at 8020 Consulting LLC, focusing on SEC reporting and financial advisory services. Prior to that, from October 2022 to September 2023, he was the senior manager of financial reporting and technical accounting at Tattooed Chef, where he managed SEC filings, financial reporting, and statement consolidation. From October 2021 to October 2022, he held the role of senior manager of financial reporting and analysis at HF Foods Group Inc., overseeing financial reporting and compliance matters. Earlier, from February 2018 to October 2021, he served as the assistant director of finance and assistant controller at Ta Chen International Inc., specializing in operational accounting and financial statement consolidation. Mr. Lin earned a Master of Science degree in accounting from the University of Texas at Dallas on August 12, 2011, and a Master of Science degree in Finance from the University of Illinois Urbana-Champaign on May 16, 2010. Mr. Lin is a citizen of the United States and currently resides in the United States.
For the nine months ended Sept. 30, 2025, we completed 55 vehicle transactions, all with independent dealers, and did not engage any purchasing agents. We intend to continue to maintain both sourcing models in the future– through independent dealers and authorized dealerships – and select the most cost effective option based on prevailing market conditions. During the first, second and third quarters of 2025, we sourced vehicles exclusively from independent dealers because their vehicle prices were more favorable to those of the authorized dealerships. We intend to maintain our sourcing relationships as we believe access to both channels is critical to our maintaining an uninterrupted supply of vehicles.
For the nine months ended Sept. 30, 2024, we completed 52 transactions.
Note: Net income and revenue are in U.S. dollars for the 12 months that ended Sept. 30, 2025.
(Note: Hillhouse Frontier Holdings increased its IPO’s size to 3.75 million shares – triple its size in its initial filing – and kept the price range at $4.00 to $6.00 – to raise $18.75 million, according to an S-1/A filing dated Jan. 15, 2026. Background: Hillhouse Frontier Holdings filed its S-1 for its IPO on July 21, 2025, and disclosed the terms: 1.25 million shares at a price range of $4.00 to $6.00 to raise $6.25 million, if priced at the $5.00 mid-point of its range.)
We are the first company in Japan to obtain a license plate number for imported electric light commercial vehicles. We are the second company and also one of the three companies that sell electric light commercial vehicles in Japan as of the date of this prospectus. (Incorporated in Japan)
The electric light commercial vehicles we sell belong to the category of “light commercial vehicles,” which are commercial carrier vehicles with a gross vehicle weight of no more than 3,500 kilograms.
We commenced selling and delivering two models of electric light commercial vehicles, ELEMO and ELEMO-K, in Japan in April 2022 and July 2022, respectively, and have been working with Cenntro, our cooperating manufacturer, to produce them under our brand, “ELEMO,” in its factory in Hangzhou, China. ELEMO is the first electric vehicle we sell and (it) is the second electric light commercial vehicle that has ever been sold in Japan since the commencement of sales of MINICAB-MiEV in December 2011, which was the first electric light commercial vehicle produced by Mitsubishi Motors Corporation. Since June 2023, we have commenced the sales of a new model called “ELEMO-L,” a van-type electric vehicle that could be used for commercial and recreational camping purposes, which we expect may enable us to increase consumer market penetration.
Under our Exclusive Basic Transaction Agreement dated March 31, 2021 with Cenntro (the “Exclusive Basic Transaction Agreement”), Cenntro manufactures ELEMO, ELEMO-K, ELEMO-L, and other electric vehicles under the specifications designated by us in their manufacturing factories in China and delivers the electric vehicles to the ports in China designated in the individual agreement for a particular order. We arrange for the shipment from these ports to the Port of Yokohama or other designated ports in Japan. Upon arrival, we transport the vehicles to our research laboratory located in Chiba, Japan, for inspection, and then send them to our business partners’ facilities, Anest Iwata’s factory in Fukushima, Japan, and TONOX’s factories in Kanagawa, Japan. The specialists of Anest Iwata, a Tokyo Stock Exchange-listed company that specializes in industrial machinery, supplies, and components, and TONOX, a Japanese commercial vehicle manufacturer, modify the vehicles to comply with the regulations and standards for the Japanese market, install the accessories, and undertake the inspection in accordance with our instructions. After the inspection and modifications, we deliver the electric vehicles to the governmental vehicle inspection office, the National Agency for Automotive and Land Transportation Technology, for individual imported vehicle inspection, and the local land transportation office for registration. Upon completion of the individual imported vehicle inspection and registration, we conduct the final inspection in our research laboratory located in Chiba, Japan, and deliver the electric light commercial vehicles to the customers.
Since the inception of our operation, we have been leveraging the customizability and adjustability of our electric light commercial vehicles to attract corporations in different industries and local governments that have varying needs from their departments in Japan. During the fiscal years ended September 30, 2023 and 2022, we sold and delivered 52 and 16 electric light commercial vehicles to 14 and 11 customers, respectively.
Note: Net loss and revenue figures are in U.S. dollars (converted from Japanese yen) for the fiscal year that ended Sept. 30, 2024.
(Note – New IPO Plans: HW Electro Co., Ltd. filed an F-1 dated May 8, 2025 – the same date that it withdrew its previous IPO plans in a letter to the SEC. In the new IPO document – the F-1 dated May 8, 2025 – HW Electro Co., Ltd. disclosed that it is offering 4.15 million American Depositary Shares (ADS) at an assumed IPO price of $4.00 to raise $16.6 million. American Trust Investment Services and WestPark Capital are the joint book-runners.)
(Background on Previous IPO plans: Registration Withdrawn on May 8, 2025 – A.C. Sunshine and Univest Securities were the joint book-runners. Note: HW Electro Co., Ltd. filed an F-1MEF to increase its IPO’s size at pricing by 200,000 shares, according to a filing dated Jan. 24, 2025. Note: HW Electro Co., Ltd. filed an F-1/A to increase its IPO’s size to 4.0 million ADS – up from 3.75 million ADS – and increase the assumed IPO price to $4.00 – up from $3.00 – to raise $16.0 million – up from $11.25 million initially – according to an F-1/A filing dated Dec. 23, 2024. In that same filing, AC Sunshine Securities was added as the lead left joint book-runner to work with Univest Securities as the other joint book-runner, and the IPO’s proposed venue was changed to the NASDAQ from the NYSE – American Exchange, with the proposed symbol changed to “HWEP” from “HWEC”. Note: HW Electro Co., Ltd. filed its new F-1 (prospectus) on April 26, 2024, disclosing plans for its IPO and its listing of American Depositary Shares (ADS) on the NYSE – American Exchange: 3.75 million ADS at an assumed IPO price of $3.00 per ADS. Each ADS represents one ordinary share. Background: HW Electro Co., Ltd. withdrew its previous IPO plans that called for a listing on the NASDAQ with a different proposed symbol.)
PressLogicPLAI American Trust Investment Services, 1.8M Shares, $4.00-6.00, $9.0 mil, 3/23/2026 Week of
(Incorporated in the Cayman Islands)
We provide digital marketing services to companies in Hong Kong and Taiwan. Our content marketing solutions include a digital marketing solution segment, which offers editorial content, influencer marketing and display advertising, along with advertisements. We run nine proprietary media brands with over 12 million subscribers and followers, including nine websites, five apps, 11 Facebook fanpages, 11 Instagram profiles and eight YouTube channels, as of the date of this prospectus.
Note: Net income and revenue are in U.S. dollars (converted from Hong Kong dollars) for the 12 months that ended June 30, 2025.
(Note: PressLogic filed its F-1/A on Oct. 14, 2025, and disclosed the terms of its small IPO: The company is offering 1.8 million shares at a price range of $4.00 to $6.00 to raise $9.0 million, if priced at the mid-point of its range. Background: PressLogic filed its F-1 to go public in September.)
Riku Dining GroupRIKU Eddid Securities USA, 2.3M Shares, $4.00-6.00, $11.3 mil, 3/23/2026 Week of
(Incorporated in the Cayman Islands)
We operate and franchise Japanese-style restaurants in Canada and Hong Kong:
In Canada – Ajisen Ramen is our franchise. We run four restaurants and we franchise nine more restaurants across Ontario.
In Hong Kong – We have seven restaurants under three franchised brands – Yakiniku Kakura, Yakiniku 802 and Ufufu Cafe.
Note: Net income and revenue are in U.S. dollars for the 12 months that ended March 31, 2025.
(Note: Riku Dining Group disclosed the terms for its IPO in an Oct. 8, 2025, filing with the SEC: The company is offering 2.25 million shares at a price range of $4.00 to $6.00 to raise $11.25 million. Background: Riku Dining Group filed its F-1 for its IPO in September 2025 without disclosing the terms. Estimated IPO proceeds are $16 million.)
Climate change and ESG are some recent flavours of the month for most new ETFs. Nevertheless, here are some new frontier and emerging market focused ETFs:
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Emerging Market Links + The Week Ahead (March 16, 2026) was also published on our website under the Newsletter category.
