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Initiating coverage A serial incubator of digital businesses, trading at a material discount – Ceres has a demonstrated track record of building businesses from scratch and crystallizing value at attractive returns. The Company incubated D2C from ¥10mn to ¥4.9bn in revenue, grew labol's GMV approximately 70x in four years, and generated a post-tax MOIC of 6.6x and ~31% IRR on the YUMEMI investment over eight years.Read more

Key Takeaways Giftify (GIFT) is building an incentives and rewards platform anchored by CardCash, the nation’s leading secondary gift card marketplace, processing over $154 million in annual transaction volume. The global gift card market is projected at $680 billion in 2026, growing to $1,259 billion by 2031.Read more

Hektar REIT’s outlook looks more constructive now than it did a year ago, mainly because the trust is no longer relying only on a pure retail recovery story. Its latest full-year 2025 update showed fourth-quarter revenue rising 2.4% year-on-year to RM30.75 million , while net profit after tax increased 11.1% to RM5.90 million.Read more

Key Assumptions Metal Prices: Gold at $4,500/oz (80% above ~$2,500/oz) and silver at $100/oz (233% above ~$30/oz), held constant for simplicity. Real Inflation Rate: 8% annually, increasing operating costs (e.g., all-in sustaining costs, AISC) and potentially compressing valuation multiples.Read more

Rating: Buy / Value-Oriented Cyclical Compounder Style: Materials / industrial value with structural aerospace and recycling upside Core debate: Is Constellium just another cyclical aluminum processor, or is it a mispriced value-added aluminum platform with improving margins, strong cash generation, and underappreciated exposure to aerospace, packaging, recycling, and lightweighting? Executive view Constellium looks like one of the more compelling value-oriented names in the materials space.Read more

Bambuser: Valuation Analysis & Price Target 261 SEK Cash lasts for 7 years – 30 quarters! (MUST READ!) There are few occasions when the market offers a "free" asymmetry, where the downside is mathematically limited and the upside is structurally enormous.Read more

Lightwave Logic (LWLG) is transitioning from a research-focused entity to a commercial one, with meaningful volume production and licensing revenues anticipated to begin in 2027. Investing.com +1 The following is a breakdown of earnings and revenue expectations for the next three fiscal years based on the company's Q4 2025 earnings call and current guidance: 2026: Execution and Milestone Year Revenue Outlook : Revenue will be driven primarily by material supply and non-recurring engineering (NRE) activities.Read more

Inta Bina Group Berhad has secured another new job, after accepting a RM32.41 million contract from Eco Ardence Sdn Bhd for the design and build of main building works in Shah Alam, Selangor. The project will cover the development of several shop units, a multipurpose hall and an electrical substation , with work scheduled to start on 15 April 2026 and finish on 15 October 2027 , giving the group an 18-month execution period.Read more

Catalysts Primarily used as tungsten carbide for cutting tools and wear-resistant applications, it is essential in defense, aerospace, and electronics. I beleive that the three industries mentioned above could move sales or earnings meaningfully.Read more