Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Thematic (Sector/Industry)

<ul><li>A likely Russian credit and currency crisis, the weakening Euro and ineptitude of BoJ &nbsp;combine to create a world of worry in markets and bank stocks in particular. The way this usually plays out is first with liquidity.&nbsp; </li><li>Banks pull credit lines from weaker banks (and weaker companies).&nbsp; </li><li>If a bank has a loan to deposit ratio (LDR) above 100%, it is often difficult to repay the redeemed credit line, as it means disposing of an asset, a loan – immediately. &nbsp; </li></ul>

A likely Russian credit and currency crisis, the weakening Euro and ineptitude of BoJ &nbsp;combine to create a world of worry in markets and bank stocks in particular. The way this usually plays out is first with liquidity.&nbsp; Banks pull credit lines from weaker banks (and weaker companies).&nbsp; If a bank has a loan to deposit ratio (LDR) above 100%, it is often difficult to repay the redeemed credit line, as it means disposing of an asset, a loan – immediately. &nbsp; 

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of Bursa stocks as of Feb 13th. The aggregated short interest is USD551m.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Top Glove, IJM, Datasonic, Genting Malaysia, Pavilion Real Estate Inv Trust.</li>
</ul>


We analyzed the changes in short interest of Bursa stocks as of Feb 13th. The aggregated short interest is USD551m.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Top Glove, IJM, Datasonic, Genting Malaysia, Pavilion Real Estate Inv Trust.


Bursa Short Interest Weekly (Feb 13th): Top Glove, IJM, Datasonic, Genting Malaysia

<ul>
<li>We analyzed the changes in short interest of Bursa stocks as of Feb 6th. The aggregated short interest is USD547m.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in SP Setia, Datasonic, Hong Leong Bank, JCY International, Genting Malaysia.</li>
</ul>


We analyzed the changes in short interest of Bursa stocks as of Feb 6th. The aggregated short interest is USD547m.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in SP Setia, Datasonic, Hong Leong Bank, JCY International, Genting Malaysia.


Bursa Short Interest Weekly (Feb 6th): SP Setia, Datasonic, Hong Leong Bank, JCY International

<ul>
<li>We analyzed the changes in short interest of Bursa stocks as of Jan 30th. The aggregated short interest is USD534m.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Sunway, UEM Sunrise, Gamuda, VS Industry, SP Setia.</li>
</ul>


We analyzed the changes in short interest of Bursa stocks as of Jan 30th. The aggregated short interest is USD534m.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Sunway, UEM Sunrise, Gamuda, VS Industry, SP Setia.


Bursa Short Interest Weekly (Jan 30th): Sunway, UEM Sunrise, Gamuda, VS Industry, SP Setia

<ul>
<li>We analyzed the changes in short interest of Bursa stocks as of Jan 23rd. The aggregated short interest is USD497m.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Gamuda, Datasonic, AEON Co (Malaysia), Genting Malaysia, Kelington.</li>
</ul>


We analyzed the changes in short interest of Bursa stocks as of Jan 23rd. The aggregated short interest is USD497m.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Gamuda, Datasonic, AEON Co (Malaysia), Genting Malaysia, Kelington.


Bursa Short Interest Weekly (Jan 23rd): Gamuda, Datasonic, AEON Co (Malaysia), Genting Malaysia

Malaysia

BIMB Holdings Berhad provides all aspects of Islamic banking services.  Through its subsidiaries, the Company underwrites family and general takaful (Islamic insurance) and provides stock broking and other related services. BIMB Holdings  also has operation in unit trust management, provides training and consultancy  services, and leases fixed assets to related companies.

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Bimb Holdings (BIMB MK)

Be Wary of High LDR Banks at Present

A likely Russian credit and currency crisis, the weakening Euro and ineptitude of BoJ combine to create a world of worry in markets and bank...

Daniel Tabbush

Bursa Short Interest Weekly (Feb 13th): Top Glove, IJM, Datasonic, Genting Malaysia

We analyzed Bursa Malaysia short interest report for the past week and highlighted short interest changes in Top Glove, IJM, Datasonic, Genting...

Ke Yan, CFA, FRM

Bursa Short Interest Weekly (Feb 6th): SP Setia, Datasonic, Hong Leong Bank, JCY International

We analyzed Bursa Malaysia short interest report for the past week and highlighted short interest changes in SP Setia, Datasonic, Hong Leong Bank,...

Ke Yan, CFA, FRM

Bursa Short Interest Weekly (Jan 30th): Sunway, UEM Sunrise, Gamuda, VS Industry, SP Setia

We analyzed Bursa Malaysia short interest report for the past week and highlighted short interest changes in Sunway, UEM Sunrise, Gamuda, VS...

Ke Yan, CFA, FRM

Bursa Short Interest Weekly (Jan 23rd): Gamuda, Datasonic, AEON Co (Malaysia), Genting Malaysia

We analyzed Bursa Malaysia short interest report for the past week and highlighted short interest changes in Gamuda, Datasonic, AEON Co (Malaysia),...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)