ValueNotes Connect

Welcome to the June issue of ValueNotes Connect.

According to the IMF, the COVID-19 pandemic has pushed economies into a Great Lockdown, which helped contain the virus and save lives, but also triggered the worst recession since the Great Depression. The impact on sectors has been uneven.

We analysed the first quarter results of a selection of leading global companies across industries, and we found that most sectors were affected more than others. Some of the worst affected industries were automotive, auto parts, chemicals, oil & gas, apparels, construction equipment, and steel & iron-ore. They all had something in common – a lack of demand, supply chain disruptions or plant shutdowns. The oil & gas sector, in particular, saw a huge demand-supply gap that led to a collapse in prices.

On the contrary, pharmaceuticals, food & beverages, packaging and semiconductors were less affected. Semiconductors, for instance, saw growth in average revenue with an increased demand for work-from-home technologies.

The crisis began to unfold in March, and the one-month impact is reflected in the January to March results. With three whole months of uncertainty between April and June, how abysmal are the second quarter numbers likely to be?

If you haven’t already participated in our Covid-19 Business Sentiment Survey, please do so. Our initial analysis has revealed some interesting insights, which we will publish later this month shortly after we close the survey.

As always, we look forward to your comments. And stay safe.

Best regards.

Winners (and losers) in the time of Covid-19

– by Chinmay Deo

The Covid-19 pandemic posed a major challenge for most industries in the first quarter of 2020. The impact has been moderate to severe for all sectors, with many required to face up to challenges and having to adapt. We looked at Q1 2020 YoY (year-on-year) revenue growth of leaders in each industry and compared their tailwinds and headwinds.


Covid-19 Business Sentiment Survey

ValueNotes invites you to participate in a survey to help us gather insights into how senior executives in different industries are preparing for a post-Covid-19 era.



Some client problems we have solved:

  • e-Commerce enablers in SE Asia
  • Cyber security attractiveness data by industry
  • Market study on solar vaccine refrigeration in Africa
  • Green ammonia fuel supply feasibility study
  • Retirement villages in Asia


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