Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Manulife Financial recently released its first quarter 2025 results, showcasing both positive and challenging aspects of its performance.</li><li>The company maintained strong growth momentum from 2024, particularly in its Asia and Global Wealth and Asset Management (WAM) businesses.</li><li>Asia's Annualized Premium Equivalent (APE) sales surged 50%, driven by robust demand in Hong Kong, Japan, Mainland China, and Singapore.</li></ul>

Manulife Financial recently released its first quarter 2025 results, showcasing both positive and challenging aspects of its performance.The company maintained strong growth momentum from 2024, particularly in its Asia and Global Wealth and Asset Management (WAM) businesses.Asia's Annualized Premium Equivalent (APE) sales surged 50%, driven by robust demand in Hong Kong, Japan, Mainland China, and Singapore.

Manulife Financial Corporation Delivers Double-Digit CSM Growth—Can It Sustain This Earnings Surge?

<ul><li>Manulife Financial reported a robust financial performance for the full year 2024, marked by several significant achievements while also facing certain challenges.</li><li>The company's core earnings exceeded $7 billion for the first time, reflecting a 10% year-over-year increase.</li><li>This growth was primarily driven by Manulife's highest potential businesses in Asia and Global Wealth and Asset Management (Global WAM), which together accounted for 70% of core earnings.</li></ul>

Manulife Financial reported a robust financial performance for the full year 2024, marked by several significant achievements while also facing certain challenges.The company's core earnings exceeded $7 billion for the first time, reflecting a 10% year-over-year increase.This growth was primarily driven by Manulife's highest potential businesses in Asia and Global Wealth and Asset Management (Global WAM), which together accounted for 70% of core earnings.

Manulife Financial Corporation: Is The Growth In Core Earnings Here To Stay?

<ul><li>Manulife Financial recently disclosed its Q3 2024 earnings, revealing a generally robust performance with some nuanced insights.</li><li>The company reported record financial and operating results, with substantial growth noted across several key metrics including core earnings, Annual Premium Equivalent (APE) sales, and new business Contractual Service Margin (CSM).</li><li>Positives were prominently highlighted by the 40% surge in APE sales, led primarily by Asia which provided record-breaking figures in terms of sales growth, new business CSM, and new business value.</li></ul>

Manulife Financial recently disclosed its Q3 2024 earnings, revealing a generally robust performance with some nuanced insights.The company reported record financial and operating results, with substantial growth noted across several key metrics including core earnings, Annual Premium Equivalent (APE) sales, and new business Contractual Service Margin (CSM).Positives were prominently highlighted by the 40% surge in APE sales, led primarily by Asia which provided record-breaking figures in terms of sales growth, new business CSM, and new business value.

Manulife Financial Corporation’s Risk Recalibration Revolution: The Smart Play in Reinsurance Management! - Major Drivers

<ul><li>Manulife Financial recently held its second-quarter 2024 earnings call to review its financial and operating results.</li><li>The material focused on the company's strategic updates, recent accomplishments, and future directions.</li><li>Positively, Manulife Financial showcased a transition from a high-risk, low Return on Equity (ROE) entity in 2017 to a lower-risk, high ROE company today.</li></ul>

Manulife Financial recently held its second-quarter 2024 earnings call to review its financial and operating results.The material focused on the company's strategic updates, recent accomplishments, and future directions.Positively, Manulife Financial showcased a transition from a high-risk, low Return on Equity (ROE) entity in 2017 to a lower-risk, high ROE company today.

Manulife Financial Corporation: Adaptation to Macro-Economic Changes and Regulatory Evolution in Asian Markets! - Major Drivers

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

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.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/great-eastern-holdings-ltd" target="_blank" data-smartkarma-citation="entities:13993:1" rel="noopener">Great Eastern Holdings (GE SP)</a> IFA opines that the <a href="https://www.smartkarma.com/entities/oversea-chinese-banking-corp" target="_blank" data-smartkarma-citation="entities:114:1" rel="noopener">OCBC (OCBC SP)</a> S$25.60 offer is NOT fair but reasonable as it is below the valuation range of S$28.87-S$36.19 per share.</li>
<li>In response, OCBC declared the price final, and the final closing date is 12 July. Great Eastern will likely breach free float requirements and be suspended when the offer closes.</li>
<li>The offer will likely follow the Boustead Projects/Boustead Singapore blueprint, where SGX RegCo eventually (took seven months) enabled dissenters to receive a fair offer with a 24% uplift. </li>
</ul>



Great Eastern Holdings (GE SP) IFA opines that the OCBC (OCBC SP) S$25.60 offer is NOT fair but reasonable as it is below the valuation range of S$28.87-S$36.19 per share.
In response, OCBC declared the price final, and the final closing date is 12 July. Great Eastern will likely breach free float requirements and be suspended when the offer closes.
The offer will likely follow the Boustead Projects/Boustead Singapore blueprint, where SGX RegCo eventually (took seven months) enabled dissenters to receive a fair offer with a 24% uplift. 


Great Eastern Holdings (GE SP): Playbook as OCBC Offer Declared Final, IFA Opines NOT Fair

Canada

Manulife Financial Corporation provides financial protection products and investment management services to individuals, families, businesses, and groups. The Company conducts operations in Canada, the United States, and Asia, as well as reinsurance operations on a global basis.  Manulife offers products such as annuities, pension products, life insurance, health insurance, and mutual funds.

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Manulife Financial (MFC CN)

Manulife Financial Corporation Delivers Double-Digit CSM Growth—Can It Sustain This Earnings Surge?

Manulife Financial recently released its first quarter 2025 results, showcasing both positive and challenging aspects of its performance. The...

Baptista Research

Manulife Financial Corporation: Is The Growth In Core Earnings Here To Stay?

Manulife Financial reported a robust financial performance for the full year 2024, marked by several significant achievements while also facing...

Baptista Research

Manulife Financial Corporation’s Risk Recalibration Revolution: The Smart Play in Reinsurance Management! - Major Drivers

Manulife Financial recently disclosed its Q3 2024 earnings, revealing a generally robust performance with some nuanced insights. The company...

Baptista Research

Manulife Financial Corporation: Adaptation to Macro-Economic Changes and Regulatory Evolution in Asian Markets! - Major Drivers

Manulife Financial recently held its second-quarter 2024 earnings call to review its financial and operating results. The material focused on the...

Baptista Research

Great Eastern Holdings (GE SP): Playbook as OCBC Offer Declared Final, IFA Opines NOT Fair

Shares will likely breach float requirements and be suspended at offer close. While trading through terms, recent precedent suggests that investors...

Arun George

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