Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

<ul>
<li>Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).</li>
<li>We view Hapag-Lloyd's ESG as "Adequate". The company's "Adequate" Environmental score offsets its "Strong" Social and Governance scores, as the Environmental pillar carries the highest weightage in our assessment. Controversies are "Immaterial" and Disclosure is "Adequate". </li>
<li>Following a wave of consolidations and its merger with UASC, Hapag-Lloyd has become the fifth-largest provider of container shipping services globally, with its market share of 8% placing the company behind Maersk/Hamburg Sud, Mediterranean Shipping Company, Cosco-OOCL and CMA CGM-NOL.</li>
</ul>


Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).
We view Hapag-Lloyd's ESG as "Adequate". The company's "Adequate" Environmental score offsets its "Strong" Social and Governance scores, as the Environmental pillar carries the highest weightage in our assessment. Controversies are "Immaterial" and Disclosure is "Adequate". 
Following a wave of consolidations and its merger with UASC, Hapag-Lloyd has become the fifth-largest provider of container shipping services globally, with its market share of 8% placing the company behind Maersk/Hamburg Sud, Mediterranean Shipping Company, Cosco-OOCL and CMA CGM-NOL.


Hapag-Lloyd - ESG Report - Lucror Analytics

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Orient Overseas International / Equity Capital Markets

Orient Overseas (OOIL) aims to raise around US$419m via a top-up placement. The stock has been a tear this year owing to the rising freight rates. However, this will be the fourth placement in the name and will be the largest and is being offered at the tightest discount. None of the past deals held on to the deal price in the near term.

Orient Overseas (OOIL) aims to raise around US$419m via a top-up placement. The stock has been a tear this year owing to the rising freight rates. However, this will be the fourth placement in the name and will be the largest and is being offered at the tightest discount. None of the past deals held on to the deal price in the near term.

Orient Overseas Placement - Fourth Deal This Year. Is the Largest and at the Tightest Discount.

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/11" target="_blank" data-smartkarma-citation="entities:11:1">Sembcorp Marine Ltd (SMM SP)</a> reported disappointing results yesterday. It is significantly below what the street was expecting. In this insight, I interpret the numbers and give updates to recent drilling rig market conditions. 1Q17 headline revenue/net profit is lowered by 17.2%/28% YoY. However, excluding one-off gains from the sale of <a href="https://www.smartkarma.com/entities/671" target="_blank" data-smartkarma-citation="entities:671:1">COSCO Corp Singapore Ltd (COS SP)</a>, SMM would have reported a net loss of S$7.3m. 1Q revenue accounted for 25% of full-year consensus revenue estimates. The…

Sembcorp Marine Ltd (SMM SP) reported disappointing results yesterday. It is significantly below what the street was expecting. In this insight, I interpret the numbers and give updates to recent drilling rig market conditions. 1Q17 headline revenue/net profit is lowered by 17.2%/28% YoY. However, excluding one-off gains from the sale of COSCO Corp Singapore Ltd (COS SP), SMM would have reported a net loss of S$7.3m. 1Q revenue accounted for 25% of full-year consensus revenue estimates. The…

SMM 1Q17: Sank to A Loss, Yet to See Lights at the End of the Tunnel

Asia Ex-J Consumer/ Transport analyst

Valerie Law, CFA

Thematic (Sector/Industry)

There were a couple of news items this week that convinced me that the Singapore government will not protect traditional businesses or practices, from disruption. Even the Singapore government has started to shift its career-advancement practices (<a href="http://www.straitstimes.com/singapore/civil-servants-no-longer-grouped-by-education-level" target="_blank">civil servants no longer grouped by educational level</a>) and the channels it propagates messages. 1. First, a headline that can't be missed:  On Wednesday (22 February), the Business Times headline screams: Signal goes out to struggling firms: Buck up -…

There were a couple of news items this week that convinced me that the Singapore government will not protect traditional businesses or practices, from disruption. Even the Singapore government has started to shift its career-advancement practices (civil servants no longer grouped by educational level) and the channels it propagates messages. 1. First, a headline that can't be missed:  On Wednesday (22 February), the Business Times headline screams: Signal goes out to struggling firms: Buck up -…

Singapore: Traditional Firms Must Disrupt Themselves or The Market Will Do It

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

Singapore

COSCO SHIPPING International (Singapore) Co., Ltd. provides ship building and repairing and marine engineering services. The Company offers bulk, liquefied natural gas, and special purpose carriers, as well as oil tankers. COSCO SHIPPING International serves customers worldwide.

COSCO SHIPPING International (Singapore) (COS SP)

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COSCO SHIPPING International (Singapore) (COS SP)

Hapag-Lloyd - ESG Report - Lucror Analytics

Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable). We view Hapag-Lloyd's ESG as...

Lucror Analytics

Orient Overseas Placement - Fourth Deal This Year. Is the Largest and at the Tightest Discount.

Orient Overseas (OOIL) aims to raise around US$419m via a top-up placement. The stock has been a tear this year owing to the rising freight rates

Sumeet Singh

SMM 1Q17: Sank to A Loss, Yet to See Lights at the End of the Tunnel

Sembcorp Marine Ltd (SMM SP) reported disappointing results yesterday. It is significantly below what the street was expecting. In this insight, I...

Ke Yan, CFA, FRM

Singapore: Traditional Firms Must Disrupt Themselves or The Market Will Do It

There were a couple of news items this week that convinced me that the Singapore government will not protect traditional businesses or...

Valerie Law, CFA

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

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)