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 Mar 20th. 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 Telekom Malaysia, UEM Sunrise, Datasonic, WCT, KPJ Healthcare.</li>
</ul>


We analyzed the changes in short interest of Bursa stocks as of Mar 20th. 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 Telekom Malaysia, UEM Sunrise, Datasonic, WCT, KPJ Healthcare.


Bursa Short Interest Weekly (Mar 20th): Telekom Malaysia, UEM Sunrise, Datasonic, WCT

<ul>
<li>We analyzed the changes in short interest of Bursa stocks as of Mar 13th. The aggregated short interest is USD538m.</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 Bumi Armada, KPJ Healthcare, Inari Amertron, Hibiscus Petroleum, Telekom Malaysia.</li>
</ul>


We analyzed the changes in short interest of Bursa stocks as of Mar 13th. The aggregated short interest is USD538m.
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 Bumi Armada, KPJ Healthcare, Inari Amertron, Hibiscus Petroleum, Telekom Malaysia.


Bursa Short Interest Weekly (Mar 13th): Bumi Armada, KPJ Healthcare, Inari Amertron

<ul>
<li>We analyzed the changes in short interest of Bursa stocks as of Sep 12th. The aggregated short interest is USD365m.</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 Malaysian Resources, Sime Darby, Bumi Armada, Genting, Yinson.</li>
</ul>


We analyzed the changes in short interest of Bursa stocks as of Sep 12th. The aggregated short interest is USD365m.
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 Malaysian Resources, Sime Darby, Bumi Armada, Genting, Yinson.


Bursa Short Interest Weekly (Sep 12th): Malaysian Resources, Sime Darby, Bumi Armada, Genting

<ul>
<li>We analyzed the changes in short interest of Bursa stocks as of Jun 27th. The aggregated short interest is USD363m.</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 Sime Darby, Dialog, Gamuda, Mr D I Y Group M Bhd, Kossan Rubber Industries.</li>
</ul>


We analyzed the changes in short interest of Bursa stocks as of Jun 27th. The aggregated short interest is USD363m.
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 Sime Darby, Dialog, Gamuda, Mr D I Y Group M Bhd, Kossan Rubber Industries.


Bursa Short Interest Weekly (Jun 27th): Sime Darby, Dialog, Gamuda, Mr D I Y

Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/rex-international-holding" target="_blank" data-smartkarma-citation="entities:17074:1" rel="noopener">Rex International Holding (REXI SP)</a> has fallen back from 0.25 SGD last month to below 0.19 SGD recently. This is despite oil prices staying around 70 USD/bbl and Rex reporting fantastic 1H21 results.Rex also announced that after Oman and Norway it is studying to develop some oil fields in Malaysia. Rex is looking to diversify its production base so they are less dependent on one country. Cash is literally gushing in from its Oman assets and will accelerate in 2H21 as its Norwegian purchase of the Brage field will be accounted for in 2H.Rex's stock is up 29% YTD but remains deep value on an absolute basis and relative to peers such as <a href="https://www.smartkarma.com/entities/hibiscus-petroleum-bhd" target="_blank" data-smartkarma-citation="entities:20775:1" rel="noopener">Hibiscus Petroleum (HIBI MK)</a>. We continue to believe Rex will at least double from current levels as at some point the growing cash flows can no longer be ignored by investors. The eventual end-game has not changed: given the age of the principal shareholders, we believe Rex will see a lot of corporate activity going forward. We are unsure of the timeframe and shape/form this takes (spin-off, partial divestments, partial return of capital, one-off dividends, large share buybacks, 100% sale to different owners, etc).

Rex International Holding (REXI SP) has fallen back from 0.25 SGD last month to below 0.19 SGD recently. This is despite oil prices staying around 70 USD/bbl and Rex reporting fantastic 1H21 results.Rex also announced that after Oman and Norway it is studying to develop some oil fields in Malaysia. Rex is looking to diversify its production base so they are less dependent on one country. Cash is literally gushing in from its Oman assets and will accelerate in 2H21 as its Norwegian purchase of the Brage field will be accounted for in 2H.Rex's stock is up 29% YTD but remains deep value on an absolute basis and relative to peers such as Hibiscus Petroleum (HIBI MK). We continue to believe Rex will at least double from current levels as at some point the growing cash flows can no longer be ignored by investors. The eventual end-game has not changed: given the age of the principal shareholders, we believe Rex will see a lot of corporate activity going forward. We are unsure of the timeframe and shape/form this takes (spin-off, partial divestments, partial return of capital, one-off dividends, large share buybacks, 100% sale to different owners, etc).  

Rex: Oman + Norway + Malaysia Is the New Trifecta; Stock Trades at 1.5x 2021 Earnings

Malaysia

Hibiscus Petroleum Berhad is an independent upstream exploration and production company that explores for oil and gas. The Company has operations in the Middle East, Norway and Oceania regions.

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Hibiscus Petroleum (HIBI MK)

Bursa Short Interest Weekly (Mar 20th): Telekom Malaysia, UEM Sunrise, Datasonic, WCT

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

Ke Yan, CFA, FRM

Bursa Short Interest Weekly (Mar 13th): Bumi Armada, KPJ Healthcare, Inari Amertron

We analyzed Bursa Malaysia short interest report for the past week and highlighted short interest changes in Bumi Armada, KPJ Healthcare, Inari...

Ke Yan, CFA, FRM

Bursa Short Interest Weekly (Sep 12th): Malaysian Resources, Sime Darby, Bumi Armada, Genting

We analyzed Bursa Malaysia short interest report for the past week and highlighted short interest changes in Malaysian Resources, Sime Darby, Bumi...

Ke Yan, CFA, FRM

Bursa Short Interest Weekly (Jun 27th): Sime Darby, Dialog, Gamuda, Mr D I Y

We analyzed Bursa Malaysia short interest report for the past week and highlighted short interest changes in Sime Darby, Dialog, Gamuda, Mr D I Y...

Ke Yan, CFA, FRM

Rex: Oman + Norway + Malaysia Is the New Trifecta; Stock Trades at 1.5x 2021 Earnings

Rex reported stellar 1H21 results and cash flow will accelerate significantly in 2H21. Rex trades at 1.5x FY21 PATMI which makes this an absolute...

Nicolas Van Broekhoven

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