Thailand’s market regulator is considering legal action against an investor over inconsistencies in seven disclosure reports linked to six listed companies, including a nearly $1 billion acquisition of shares in telecom giant True Corp . Share acquisition reports by investor Supaporn Pimphong may contain false information, according to a statement issued by the Securities and Exchange Commission l...
Thailand’s market regulator is considering legal action against an investor over inconsistencies in seven disclosure reports linked to six listed companies, including a nearly $1 billion acquisition of shares in telecom giant True Corp . Share acquisition reports by investor Supaporn Pimphong may contain false information, according to a statement issued by the Securities and Exchange Commission late Tuesday. It didn’t specify which companies the reports were connected to. While acquisition disclosure reports for the listed companies date back to 2021 and earlier, they were only submitted to the regulator on June 30 and July 2, the SEC said. Supaporn’s purchase of a more than 7% stake in True Corp. — which would make her one of the company’s largest shareholders — triggered the probe, the regulator has said. Read More: Thai Investor’s Claim of $1 Billion True Corp. Stake Spurs Probe Supaporn purchased True Corp. shares in several transactions. The latest was June 15, when she acquired an additional 3.9% stake to raise her total holding in the company to 7.1%, according to her July 2 filing. Supaporn acquired preferred shares through an international broker, she said in last week’s filing . Her investment in True Corp. now would be worth about 32 billion baht ($960 million). True Corp., however, said in a statement Monday some details in Supaporn’s filing appear to be inaccurate. The company has never issued preferred shares to the public and doesn’t have any outstanding, it said. The company notified the SEC of the discrepancy, it said. Bloomberg wasn’t able to obtain contact details for Supaporn and SEC representatives also weren’t immediately able to assist. The investigation found Supaporn’s name did not appear on company shareholder registrations after the reported share acquisition dates for five of the six securities, the SEC said. The sixth case is still being reviewed. Reported holdings in some companies appeared inconsistent with information disclosed by th...
J Studios/DigitalVision via Getty Images Introduction Seeking Alpha A little less than a year ago, I initiated coverage on Rubrik, Inc. ( RBRK ) with a hold rating. While it was clear that the company offered truly innovative cybersecurity solutions, I viewed the valuation as too steep. Hence, my cautiousness. After that article was published, the stock performed poorly for an extended stretch, an...
J Studios/DigitalVision via Getty Images Introduction Seeking Alpha A little less than a year ago, I initiated coverage on Rubrik, Inc. ( RBRK ) with a hold rating. While it was clear that the company offered truly innovative cybersecurity solutions, I viewed the valuation as too steep. Hence, my cautiousness. After that article was published, the stock performed poorly for an extended stretch, and even after the recent rally, Rubrik is just basically back at levels seen last July. With cybersecurity now being in the spotlight and the company having reported their latest earnings and hosted their analyst day just last month, today I have decided to provide an important update. Opportunity Set To Expand Rubrik Analyst Day Presentation With enterprises needing new next-gen cybersecurity solutions in this era of AI and autonomous agents, the opportunity for Rubrik seems set to expand significantly over the next few years. The above infographic is from a slide from their recent Analyst Day, and you can see that by 2029, their TAM is set to exceed $125 billion. This represents a 20% CAGR. For some perspective, Rubrik generated $1.32 billion in total revenues in FY2026. While I understand that competition is currently quite fierce in the cybersecurity space, their innovation is likely to allow them to capture a notable piece of the pie. I'll get into their FY2027 Q1 results in just a second, but it should be mentioned here that Rubrik is gaining market share . This suggests a significant competitive advantage. The combo of an expanding market and a gain in market share should mean that growth will be robust into the end of the decade. Q1 Financial Performance Top Line Rubrik Q1 Presentation In their FY2027 Q1, they generated total revenues of $387.1 million, up 39% YoY. While you can see above that this represents a deceleration from Q4's growth rate, note that in normalized terms (excluding material rights), growth remained unchanged at 43%. Therefore, it seems that thei...
Time was, the future looked so bright for Meta Platforms that founder Mark Zuckerberg had to wear shades—AI-powered smart glasses, that is. In Zuckerberg’s words, 2023 wasn’t just Meta’s “year of efficiency” — it was actually the company’s best year ever. Shares surged 178% as the digital ...
Time was, the future looked so bright for Meta Platforms that founder Mark Zuckerberg had to wear shades—AI-powered smart glasses, that is. In Zuckerberg’s words, 2023 wasn’t just Meta’s “year of efficiency” — it was actually the company’s best year ever. Shares surged 178% as the digital ...
Shares of Meta Platforms (NASDAQ: META) were heading lower last month as a slew of concerns mounted for the social media giant. Among those were layoffs, overspending on AI and capital expenditures, and a lack of direction in artificial intelligence, as the company has struggled to develop a meaningful revenue stream beyond advertising. The stock also fell on a report that it would sell new shares...
Shares of Meta Platforms (NASDAQ: META) were heading lower last month as a slew of concerns mounted for the social media giant. Among those were layoffs, overspending on AI and capital expenditures, and a lack of direction in artificial intelligence, as the company has struggled to develop a meaningful revenue stream beyond advertising. The stock also fell on a report that it would sell new shares to fund its AI ambitions. By the end of the month, shares had given up 11%, according to data from S&P Global Market Intelligence . As you can see from the chart below, the stock fell steadily throughout the month. Continue reading
Earnings Call Insights: Penguin Solutions (PENG) Q3 FY2026 Management view "Penguin Solutions delivered an exceptional quarter with record results that reflect disciplined execution and strong customer traction for our AI factory platform strategy," said "Kash Shaikh (CEO, President & Director)," adding: "we are again raising our full year outlook for both net sales and EPS." Shaikh emphasized mix...
Earnings Call Insights: Penguin Solutions (PENG) Q3 FY2026 Management view "Penguin Solutions delivered an exceptional quarter with record results that reflect disciplined execution and strong customer traction for our AI factory platform strategy," said "Kash Shaikh (CEO, President & Director)," adding: "we are again raising our full year outlook for both net sales and EPS." Shaikh emphasized mix shift and backlog tied to AI: "In Q3, our AI-driven businesses represented 74% of total company net sales and grew 104% year-over-year," and said "AI-driven demand continued to outpace net sales growth, contributing to a growing backlog." On leadership change, Shaikh said, "Nate Olmstead will step down as Chief Financial Officer on July 8," and "Aaron Johnson, our Vice President of Finance and Accounting, will serve as Interim CFO effective July 9," adding, "We have also initiated a search for a permanent CFO." "Nate Olmstead (Senior VP & CFO)" framed the quarter as demand-led upside: "both net sales and profits were significantly higher than expected, driven primarily by accelerating AI driven demand for our memory products and continued adoption of AI infrastructure solutions." Outlook "Nate Olmstead (Senior VP & CFO)" raised FY2026 guidance: "we are raising our full company net sales and non-GAAP diluted EPS outlook for the year. which at the midpoint now calls for 22% net sales growth and $2.60 of non-GAAP diluted EPS, up from our previous outlook of 12% net sales growth and $2.15 of non-GAAP diluted EPS." Olmstead reiterated key modeling assumptions: "our full year outlook assumes that we will continue to diversify our customer sales mix and does not include any Advanced Computing AI hardware sales to hyperscale customers," and "We expect sales from [Penguin Edge] to essentially cease by the end of fiscal 2026." Segment ranges moved alongside the full-year raise. Olmstead said, "For Memory, we are increasing our full year outlook, and we now expect net sales to grow b...
Lawrence Bishnoi, who is in prison in India, is accused of orchestrating the assassination of Hardeep Singh Nijjar in 2023 US authorities have announced charges against the leader of an Indian criminal group in connection with the political assassination of a prominent Sikh activist in Canada – a high-profile killing that strained diplomatic relations between Canada and India at the time. Lawrence...
Lawrence Bishnoi, who is in prison in India, is accused of orchestrating the assassination of Hardeep Singh Nijjar in 2023 US authorities have announced charges against the leader of an Indian criminal group in connection with the political assassination of a prominent Sikh activist in Canada – a high-profile killing that strained diplomatic relations between Canada and India at the time. Lawrence Bishnoi – the imprisoned head of an Indian criminal gang - and his childhood friend Satinderjeet Singh, are accused of orchestrating the assassination of a well-known Sikh independence activist Hardeep Singh Nijjar, who was fatally shot outside a temple where he served as president in 2023. Bishnoi is in custody, but Singh has not been apprehended. Continue reading...
As soaring temperatures fuel demand for cooling in Europe, Thailand is pitching itself as a source of relief, promoting rainy-season holidays while exporting more air conditioners. With tourism and outbound shipments two of the Southeast Asian economy’s biggest drivers, Europe’s heatwaves are creating opportunities on both fronts. The Tourism Authority of Thailand has launched a campaign encouragi...
As soaring temperatures fuel demand for cooling in Europe, Thailand is pitching itself as a source of relief, promoting rainy-season holidays while exporting more air conditioners. With tourism and outbound shipments two of the Southeast Asian economy’s biggest drivers, Europe’s heatwaves are creating opportunities on both fronts. The Tourism Authority of Thailand has launched a campaign encouraging European travellers to swap scorching summer temperatures for the nation’s milder rainy season,...
Indonesia’s sovereign wealth fund Danantara has finalized the merger of four local firms to create the nation’s largest asset manager as it seeks to compete more effectively with financial institutions across the region. The asset management units of PT Bank Rakyat Indonesia, PT Bank Negara Indonesia, PT Bank Mandiri and PT Permodalan Nasional Madani have been rolled into one company under Mandiri...
Indonesia’s sovereign wealth fund Danantara has finalized the merger of four local firms to create the nation’s largest asset manager as it seeks to compete more effectively with financial institutions across the region. The asset management units of PT Bank Rakyat Indonesia, PT Bank Negara Indonesia, PT Bank Mandiri and PT Permodalan Nasional Madani have been rolled into one company under Mandiri Manajemen Investasi, according to a statement Tuesday from the State-Owned Enterprises Agency. Representatives from Danantara didn’t immediately respond to a request for comment Wednesday, Exchange filings from April show that Danantara would acquire the stakes of the four units for 2.7 trillion rupiah ($150 million). Bloomberg News first broke plans about the merger last October. As of early 2025, the units of the first three firms — BRI, BNI and Bank Mandiri — had combined assets under management of some $8 billion. The merger is part of an effort by Danantara to increase the productivity of Indonesia’s state-owned companies by consolidation and restructuring. Established in early 2025, the sovereign wealth fund has been funded partially with dividends from state-owned entities to power President Prabowo Subianto’s vision to grow and preserve the country’s wealth. It has said its assets total some $1 trillion, reflecting holdings across sectors from energy to banking. That amount would place Danantara among the world’s largest sovereign wealth funds.