Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Positive COVID vaccine news has since led to bullish inflections in a staggering number of countries, ACWI-US included. Our current outlook is bullish. Buy dips. In this report we outline key technical levels across markets and highlight actionable ideas within our Financials &amp; Energy Sectors.

Positive COVID vaccine news has since led to bullish inflections in a staggering number of countries, ACWI-US included. Our current outlook is bullish. Buy dips. In this report we outline key technical levels across markets and highlight actionable ideas within our Financials &amp; Energy Sectors.

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

Thematic (Sector/Industry)

Is there really a value in the aircraft leasing business? Or is just the hype of market expectation? This report aims to give a more detailed and comprehensive explanation in the aircraft leasing business model which is more of an investment management business rather than transport related business. Air travel is still the only way to do cross-continental travel hence benefiting from the increasing middle class, especially in the emerging economies.

Is there really a value in the aircraft leasing business? Or is just the hype of market expectation? This report aims to give a more detailed and comprehensive explanation in the aircraft leasing business model which is more of an investment management business rather than transport related business. Air travel is still the only way to do cross-continental travel hence benefiting from the increasing middle class, especially in the emerging economies. 

Aircraft Leasing Companies: Boring Business?

Asia Ex-J Consumer/ Transport analyst

Valerie Law, CFA

Extending my point about more demanding transportation frameworks going forward (see <a href="https://www.smartkarma.com/insights/comfortdelgro-fy16-results-an-era-where-competition-hits-a-higher-gear" target="_blank" data-smartkarma-citation="insights:8719">ComfortDelGro FY16 Results: An Era Where Competition Hits a Higher Gear</a> ), the recent fire-bomb attack on Hong Kong’s MTR that left 19 injured signals increasing costs for transport operators. This article presents another reason why investors should sell MTR Corp, on top of points already provided by fellow insight provider Sameer Taneja in an earlier piece <a href="https://www.smartkarma.com/insights/mtr-66-hk-conviction-sell-thesis" target="_blank" data-smartkarma-citation="insights:7982">MTR (66 HK): Conviction Sell Thesis</a><h2>Security Costs to</h2>…

Extending my point about more demanding transportation frameworks going forward (see ComfortDelGro FY16 Results: An Era Where Competition Hits a Higher Gear ), the recent fire-bomb attack on Hong Kong’s MTR that left 19 injured signals increasing costs for transport operators. This article presents another reason why investors should sell MTR Corp, on top of points already provided by fellow insight provider Sameer Taneja in an earlier piece MTR (66 HK): Conviction Sell ThesisSecurity Costs to…

66 HK and SBUS SP: Attack on HK Metro Signals Increases in Transport Operators' Costs

The accounting research firm, GMT Research

Lisa Mangkornkarn

The accounting research firm

GMT Research

GMT Research provides independent insight into markets, sectors and companies throughout Asia. Our unique method of mining a comprehensive collection of corporate financial statements for key data allows us to evaluate the financial health of a company, sectors and the market at large. We also investigate the application of accounting standards by companies and sectors, shedding light on the quality of reported profits. Armed with this information, we help investment professionals navigate the financial landscape.

Don’t be tempted to buy into aircraft leasing businesses despite the recent flurry of IPOs. It is a bad industry and the only stocks to trade above book value are those with creative accounting or government subsidies. The prospect of rising interest rates and low oil prices means that the aircraft leasing cycle is turning down. This explains why everyone is trying to offload these assets. We think <a href="https://www.smartkarma.com/entities/9844" target="_blank" data-smartkarma-citation="entities:9844:1">China Aircraft Leasing Group Holdings Ltd (1848 HK)</a> might not survive the cycle. Don’t be left holding the baby.

Don’t be tempted to buy into aircraft leasing businesses despite the recent flurry of IPOs. It is a bad industry and the only stocks to trade above book value are those with creative accounting or government subsidies. The prospect of rising interest rates and low oil prices means that the aircraft leasing cycle is turning down. This explains why everyone is trying to offload these assets. We think China Aircraft Leasing Group Holdings Ltd (1848 HK) might not survive the cycle. Don’t be left holding the baby.

Equity Research Analyst, Maritime sector, Drewry Maritime Financial Research

Ankush Kathuria CFA, FRM

Equity Research Analyst, Maritime sector

Maritime Sector, Equity & Credit Research

Drewry Maritime Financial Research

With no ties to other players in the shipping, finance or banking world, we provide a uniquely impartial view of the markets and companies we cover. Our parent organization, Drewry is a leading independent provider of research services to the maritime and shipping industry, employing over 100 professionals across an international network of offices in London, Delhi, Singapore and Shanghai. Combining our market-leading resources with seasoned sector expertise DFRS offers a highly differentiated and comprehensive range of investment and financial research services to lenders and prospective investors in publicly listed maritime and shipping companies. The full service of reports, supporting resources and sector orientated webinars provides our clients with the most complete picture of the organisations under coverage as is possible. We have been charting and analysing the world’s maritime markets for more than 40 years. This unrivalled intelligence and understanding provides the foundation of our research service. Our analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.

In our update yesterday, <a href="https://www.smartkarma.com/insights/dmer-chinese-port-operators-avoid-bottom-fishing-in-troubled-waters," target="_blank">https://www.smartkarma.com/insights/dmer-chinese-port-operators-avoid-bottom-fishing-in-troubled-waters,</a> we looked at the Chinese port on macro basis. We had cautioned against bottom-fishing based on past valuation multiples. Investors are more likely to pick up Chinese port operators with greater unrewarded risks than for the port companies overseas.In this update we highlight that there are little signs of green shoots for mainland Chinese operators with laggard throughput growth across the three economic regions: Pearl River Delta, Yangtze River Delta and Bohai Rim.

In our update yesterday, https://www.smartkarma.com/insights/dmer-chinese-port-operators-avoid-bottom-fishing-in-troubled-waters, we looked at the Chinese port on macro basis. We had cautioned against bottom-fishing based on past valuation multiples. Investors are more likely to pick up Chinese port operators with greater unrewarded risks than for the port companies overseas.In this update we highlight that there are little signs of green shoots for mainland Chinese operators with laggard throughput growth across the three economic regions: Pearl River Delta, Yangtze River Delta and Bohai Rim.

DMER - Chinese Port Operators 2.0 - Pearl River Delta, Yangtze River Delta and Bohai Rim, HK Update.

Singapore

BOC Aviation is a leading global aircraft operating leasing company. It offers direct operating and finance leases, sale and leaseback facilities, engine finance leases, and third-party asset management, along with aircraft remarketing and technical management services. The company is headquartered in Singapore and was founded in 1993.

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BOC Aviation (2588 HK)

Bullish Inflections Around The World

In this report we outline key technical levels across markets and highlight actionable ideas within our Financials & Energy Sectors.

Vermilion Research

Aircraft Leasing Companies: Boring Business?

Is there really a value in the aircraft leasing business? Or is just the hype of market expectation? This report aims to give a more detailed and...

Henry Soediarko

66 HK and SBUS SP: Attack on HK Metro Signals Increases in Transport Operators' Costs

Extending my point about more demanding transportation frameworks going forward (see ComfortDelGro FY16 Results: An Era Where Competition Hits a...

Valerie Law, CFA

AIRCRAFT LEASING: Left Holding the Baby

Don’t be tempted to buy into aircraft leasing businesses despite the recent flurry of IPOs. It is a bad industry and the only stocks to trade above...

GMT Research

DMER - Chinese Port Operators 2.0 - Pearl River Delta, Yangtze River Delta and Bohai Rim, HK Update.

In our update yesterday, https://www.smartkarma.com/insights/dmer-chinese-port-operators-avoid-bottom-fishing-in-troubled-waters, we looked at the...

Drewry Maritime Financial Research

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