Page 32 - investor presentation
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Our Fund
3 SE Asia - Vietnam, Malaysia, Singapore & Indonesia
Macro Trend Target Sector
Strong domestic economy based on large pool of young · High reliance on public healthcare in SE Asia
population to drive the most dynamic growth
· Economic growth and increasing health consciousness
drive private healthcare market given the large
Population (Bn) GDP (U$ Tn) Healthcare population
21.9 · Pharmaceutical, pharmacies and hospitals / clinics
1.1 16.5 5.1
4.3
1.0 3.1
· Remote diagnoses / Healthcare Big-data
0.7 US China Japan German ASEAN
0.4 · High digital intimacy and strong government support
0.3 to growth start-ups and unicorns
GDP Growth · Lack of financial infrastructure and high unbanked
+6.1% Digital
‘21 +3.9% +5.2% Platform population requires increasing demand for fin-tech
investments
China India ASEAN EU US
‘20 -5.9% -4.4% -3.3%
ASEAN Age (median) : 30.2 Advanced World ASEAN
Investment Strategy
High digital intimacy and solid gov’t support to grow
digital economy
Leveraging strategic co-investment
· Internet users of 440m with the world’s highest mobile penetration rights with Vin/Masan Group
(140%)
Vietnam · Vietnam’s #1 and #3 conglomerates operating in
· Among top 20 equity funding in SE Asia in ‘21, 15 companies operate majority of high growth areas in Vietnam
the digital business
Population 647 million Funding Region Sector Funding Region Sector High growth sectors in Digital
(Fintech, e-commerce) & Healthcare
GoTo $1.6bn Indonesia App Carro $430M SG e-C Malaysia
GDP 3.1 trillion (3.5% of world) · Local leading players with enterprise value of U$100
Mn or more and dominant market position in each
GDP Growth 6.1% (‘21e), 5.3% (‘22f) Emeritus $650M SG Edu-Tech Emeritus $400M Indonesia e-C
Indonesia sector
M&A Value U$45 Bn (SE Asia) Trax $640M SG AI Momo $300M Vietnam Fintech · Management rights for value-up of portfolio
companies and synergy creation with SK affiliates
Singapore
PE Deal value U$43 Bn (SE Asia) Mynt $475M PHL Fintech Ajajb $243M Indonesia Fintech
· Valuation play if clear path to exit and return is visible
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