🌐 Emerging Market Stock Picks (Mid-March 2025)

Testing Grok AI + GoTo Gojek, Mayora Indah, IFAST, SembCorp Industries, SEA Ltd, Singtel, Grindrod, Alsea, Fomento Economico Mexicano, Genomma Lab, Grupo Aeroportuario del Sureste, etc.

Mar 14, 2025

∙ Paid

As discussed on February 16 and February 21, I have been experimenting with various mostly Chinese AI providers. What I have found is that while they are excellent at extracting and/or organizing information you give them, DeepSeek (for example) was producing insights/facts/answers seemingly out of thin air that I simply could not verify while financial related answers/ratios seemed to mostly be up to Q3 2023 (over a year ago) PLUS the site’s server was constantly busy (Asia time but it seems better now and maybe some of the output it produces has already improved…).

I’ve since started playing around with Grok hoping it could help find very specific types of Tweets e.g. emerging/frontier market stock research pieces or detailed tweets about specific stocks. However, as illustrated below, I’ve had some challenges using Grok:

Hypothetical tweets is not exactly what I am looking for as I was hoping Grok would overcome the limitation of Chinese AI providers by providing me with more up-to-date info or links posted on Twitter.

Further tweaks of my questions (and getting much more specific) did have Grok bringing my attention to some useful Twitter accounts or Tweets, but I could have found those on my own searching for them… And then I still have to wade through plenty of ~~garbage~~ tweets (dog pictures, political/economic talk, etc.) to find a few nuggets with good details about specific stocks…

Note that Grok seems to have some usage limits that are in flux for free users; but I have not had any problems bumping against whatever those usage limits currently are. Likewise, I have not really tested out its ability to answer questions with accurate verifiable answers as opposed to widely criticised “woke” ChatGPT or DeepSeek which had given me answers that were seemingly unverifiable and wrong…

With that said, I do want to further build up our Frontier & Emerging Market Stock Index (1,600+ tagged stocks plus additional stocks not tagged for a total of roughly 2100+ stocks) and have some regular posts going beyond regular monthly or quarterly posts (focused on China, Korea, etc) and our free Monday posts with links to harder to find (free) equity research reports/pieces, in-depth stock specific Tweets (e.g. Indian Twitter accounts are very good at this for Indian stocks), etc.

I could almost do a monthly posts on SE Asian stocks. Unfortunately, there is usually not much interest from foreign investors in stocks from this region albeit I think Singapore listed stocks are well worth looking at by (in particular…) USD based investors seeking dividend diversity as I perceive the SGD to be more stable than other ASEAN currencies (at least that’s my personal bias from living in the region where currencies like the PHP/IDR/MYR seem to move in all directions versus the USD…) and without the China risks that Hong Kong based companies paying good dividends may still have for US investors.

Aside from Mexico, I have not found good Twitter Accounts (besides Patrick Flood’s who seems focused on his podcast more than doing new Latin American stock writeups for his Substack) or equity research providers or blogs focused on Latin America (what’s available would mostly be in Spanish or Portuguese) or the Middle East yet…

At some point, I should probably just repost the links/Tweets, etc. from the post below to my Twitter or Substack Notes accounts. However, I am just not a big social media poster/user plus I don’t like throwing links around without at least an excerpt or some key facts/data (e.g. a short stock description as one cannot expect everyone to be familiar with every stock + a book value, P/E & dividend yields, technical chart, etc.) that are included in these posts.

Stocks covered in this initial post (with a focus on some countries or stocks that are hopefully more accessible to retail investors via Interactive Brokers or via a foreign listing…):

[Note: On desktop browsers, an autogenerated table of contents will appear on the left side linked to each stock. I will add those links below after publishing/emailing this post…]

And as always, this post is provided for informational purposes only (and to make your life easier…). It does not constitute investment advice and/or a recommendation…

⚠️ Disclosures or restricted access e.g. based on your location, investor status, etc.; 🇼 Wikipedia page; 🔬 Research analysis (including articles/blog posts from fund managers, etc.); 🎥 Video; 🎙️ Podcast; 🎬 Webinar; 📰 Newspaper/magazine article; 📯 Press release; 💻 Substack/blog/website article; ✅ Our own posts; 🗃️ Linked archived article; ⏰ Upcoming webinar or event.

Frontier & Emerging Market Stock Index

Asia

East Asia

🇨🇳 China / 🇭🇰 Hong Kong / 🇲🇴 Macau

Note: For more China & Hong Kong stock picks or ideas, see our monthly China & Hong Kong Stock Picks posts…

🇰🇷 Korea

Note: For more Korean stock picks or ideas, see our monthly Korean Stock Picks posts…

🇹🇼 Taiwan

Note: I have note seen any good Twitter/Substack/blog accounts or (free) equity research providers with good coverage of Taiwanese stocks (at least not in English). Please contact me if you know of any…

SE Asia

🇮🇩 Indonesia

GoTo Gojek Tokopedia PT Tbk

🔬 GoTo Gojek Tokopedia PT Tbk (GOTOIJ) - <Results first take> GoTo 4Q24 record high adj.EBITDA with FY25 guidance significantly ahead (DBS Insights Direct) 13 Mar 2025 ⚠️

🔬 GoTo Gojek Tokopedia PT Tbk (GOTOIJ) - <News Alert!> GoTo Gojek Tokopedia (GOTO IJ) – Hari Raya Cash Bonus for Online Drivers (DBS Insights Direct) 12 Mar 2025 ⚠️

🇮🇩 GoTo Gojek Tokopedia (IDX: GOTO / FRA: CK8 / OTCMKTS: GTOFF) - Ride-hailing app giant Gojek and e-commerce firm Tokopedia. 🇼 🏷️
Price/Book (Current): 2.65
Forward P/E: N/A / Forward Annual Dividend Yield: N/A (Yahoo! Finance)

Mayora Indah Tbk PT

🔬 Mayora Indah Tbk PT (MYORIJ) - Snack attack ahead (DBS Insights Direct) 10 Mar 2025 ⚠️

🔬 Mayora Indah Tbk PT (MYORIJ) - FY24 Results call takeaway: Target double-digit topline growth (DBS Insights Direct) 07 Mar 2025 ⚠️

🇮🇩 Mayora Indah Tbk PT (IDX: MYOR / FRA: D7V / OTCMKTS: PTMYF) - Food & beverage company recognized as the world's largest coffee candy manufacturer through the Kopiko brand. 3 segments: Packaged Food Processing, Packaged Beverages Processing, and Financial Services. 🇼 🏷️
Price/Book (Current): 2.86
Forward P/E: 14.20 / Forward Annual Dividend Yield: 2.56% (Yahoo! Finance)

BFI Finance Indonesia Tbk PT

🔬 BFI Finance Indonesia Tbk PT (BFINIJ) - Stable quarterly bookings expected (DBS Insights Direct) 07 Mar 2025 ⚠️

🇮🇩 BFI Finance Indonesia Tbk PT (IDX: BFIN / OTCMKTS: PBIIF) - First JSE listed multifinance company. Est. as PT Manufacturers Hanover Leasing Indonesia. 🏷️
Price/Book (Current): 1.20
Forward P/E: 6.98 / Forward Annual Dividend Yield: 6.79% (Yahoo! Finance)

Bumitama Agri Ltd

📰 SGX Research Series: 10 in 10: Bumitama Agri drives productivity via innovation, review (The Edge Singapore) Feb 27, 2025

🇮🇩 🇸🇬 Bumitama Agri Ltd (SGX: P8Z) - Fresh Fruit Bunches (FFB) growers & producers of Crude Palm Oil (CPO) & Palm Kernel (PK) in Indonesia. Subsidiary Bumitama Gunajaya Agro. 🇼 🏷️
Price/Book (Current): 1.28
Forward P/E: 7.89 / Forward Annual Dividend Yield: 7.81% (Yahoo! Finance)

🇲🇾 Malaysia

Nationgate Holdings Bhd

🌐 Nationgate Holdings Bhd (KLSE: NATGATE) - Electronics Manufacturing Services (EMS). GPU Servers & Rack Servers. 🏷️

Emerging Market Skeptic