Head of Asia, Lucror Analytics

Charles Macgregor

Head of Asia

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.

Credit

Lifestyle International Holdings / Credit

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.<ul><li><a href='#lucror-entity-8205'>China South City</a></li><li><a href='#lucror-entity-7755'>Kawasan Industri Jababeka</a></li><li><a href='#lucror-entity-112'>Lifestyle International Holdings</a></li></ul>

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.China South CityKawasan Industri JababekaLifestyle International Holdings

Morning Views Asia: China South City, Kawasan Industri Jababeka, Lifestyle International Holdings

Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable). We assess Lifestyle International's ESG as "Adequate", in line with its Environmental and Social scores. The company has a "Weak" score for the Governance pillar. Controversies are "Material", but Disclosure is "Adequate".

Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).  We assess Lifestyle International's ESG as "Adequate", in line with its Environmental and Social scores. The company has a "Weak" score for the Governance pillar. Controversies are "Material", but Disclosure is "Adequate". 

Lifestyle International - ESG Report - Lucror Analytics

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Lifestyle International Holdings / Event-Driven

<ul>
<li>There are 49 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.</li>
<li>Two new deals were discussed on Smartkarma: the Tangs' Offer for <a href="https://www.smartkarma.com/entities/chip-eng-seng-corp-ltd" target="_blank" data-smartkarma-citation="entities:6441:1" rel="noopener">Chip Eng Seng (CHIP SP)</a>; and the <a href="https://www.smartkarma.com/entities/mori-trust-sogo-reit-inc" target="_blank" data-smartkarma-citation="entities:8985:1" rel="noopener">Mori Trust Sogo Reit (8961 JP)</a>/<a href="https://www.smartkarma.com/entities/mori-trust-sogo-reit-inc" target="_blank" data-smartkarma-citation="entities:8985:1" rel="noopener">Mori Trust Sogo Reit (8961 JP)</a> merger. </li>
<li>Key updates took place for: <a href="https://www.smartkarma.com/entities/pendal-group-ltd" target="_blank" data-smartkarma-citation="entities:15795:1" rel="noopener">Pendal Group (PDL AU)</a>/<a href="https://www.smartkarma.com/entities/perpetual-ltd" target="_blank" data-smartkarma-citation="entities:599:1" rel="noopener">Perpetual Ltd (PPT AU)</a>, <a href="https://www.smartkarma.com/entities/total-access-communication" target="_blank" data-smartkarma-citation="entities:948:1" rel="noopener">Total Access Communication (DTAC TB)</a>/<a href="https://www.smartkarma.com/entities/true-corp-pcl" target="_blank" data-smartkarma-citation="entities:8:1" rel="noopener">True Corp Pcl (TRUE TB)</a>, and <a href="https://www.smartkarma.com/entities/lifestyle-international-holdings-ltd" target="_blank" data-smartkarma-citation="entities:112:1" rel="noopener">Lifestyle International Holdings (1212 HK)</a>.</li>
</ul>


There are 49 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Two new deals were discussed on Smartkarma: the Tangs' Offer for Chip Eng Seng (CHIP SP); and the Mori Trust Sogo Reit (8961 JP)/Mori Trust Sogo Reit (8961 JP) merger. 
Key updates took place for: Pendal Group (PDL AU)/Perpetual Ltd (PPT AU), Total Access Communication (DTAC TB)/True Corp Pcl (TRUE TB), and Lifestyle International Holdings (1212 HK).


(Mostly) Asia-Pac Weekly Risk Arb Wrap: Chip Eng Seng, Mori Trust, Pendal/Pendal, DTAC/True

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.<ul><li><a href='#lucror-entity-13022'>Anton Oilfield</a></li><li><a href='#lucror-entity-1457'>China Oil And Gas</a></li><li><a href='#lucror-entity-7755'>Kawasan Industri Jababeka</a></li><li><a href='#lucror-entity-112'>Lifestyle International Holdings</a></li></ul>

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.Anton OilfieldChina Oil And GasKawasan Industri JababekaLifestyle International Holdings

Morning Views Asia: Anton Oilfield, China Oil And Gas, Kawasan Industri Jababeka

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lifestyle-international-holdings-ltd" target="_blank" data-smartkarma-citation="entities:112:1" rel="noopener">Lifestyle International Holdings (1212 HK)</a>’s scheme resolution was approved at today’s court meeting - 94.93% of independent share votes cast FOR (2.31% of all independent shareholders AGAINST).</li>
<li>This is in line with our expectations - in <a href="https://www.smartkarma.com/insights/lifestyle-international-1212-hk-s-wide-spread-heading-into-the-21-november-vote" target="_blank" data-smartkarma-citation="insights:84580" rel="noopener">Lifestyle International (1212 HK)’s Wide Spread Heading into the 21 November Vote</a> that despite the wide spread, the offer would succeed.</li>
<li>At the last close and for the 30 December payment date, the gross and annualised spread to the offer is 2.0% and 20.6%, respectively.</li>
</ul>



Lifestyle International Holdings (1212 HK)’s scheme resolution was approved at today’s court meeting - 94.93% of independent share votes cast FOR (2.31% of all independent shareholders AGAINST).
This is in line with our expectations - in Lifestyle International (1212 HK)’s Wide Spread Heading into the 21 November Vote that despite the wide spread, the offer would succeed.
At the last close and for the 30 December payment date, the gross and annualised spread to the offer is 2.0% and 20.6%, respectively.


Lifestyle International (1212 HK)’s Court Meeting – And that Is a Pass

Hong Kong

Lifestyle International Holdings Limited, through its subsidiaries, operates lifestyle department store and other retail outlets.  The Company also owns most of the properties at which its department store is situated.  At present, Lifestyle International operates the Sogo store, Nufront, and Daiso Land Ten-dollar Shop in Hong Kong.

Lifestyle International Holdings (1212 HK)

52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
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Dividend (Yield)	0.00

Lifestyle International Holdings (1212 HK)

Morning Views Asia: China South City, Kawasan Industri Jababeka, Lifestyle International Holdings

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

Lifestyle International - ESG Report - Lucror Analytics

Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable). We assess Lifestyle International's...

Lucror Analytics

(Mostly) Asia-Pac Weekly Risk Arb Wrap: Chip Eng Seng, Mori Trust, Pendal/Pendal, DTAC/True

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Morning Views Asia: Anton Oilfield, China Oil And Gas, Kawasan Industri Jababeka

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

Lifestyle International (1212 HK)’s Court Meeting – And that Is a Pass

The scheme vote was overwhelmingly approved. At the last close and for the 30 December payment date, the annualised spread to the offer is 20.6%.

Arun George

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)