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's second-quarter 2025 earnings call provides a comprehensive view of the company's performance and strategic direction.</li><li>The quarter was marked by promising growth in several areas, alongside some challenges that need addressing.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Manulife Financial's second-quarter 2025 earnings call provides a comprehensive view of the company's performance and strategic direction.The quarter was marked by promising growth in several areas, alongside some challenges that need addressing.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Manulife Financial Corporation’s Asian Surge – Will 31% APE Growth Continue in 2025?

<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?

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>The <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> delisting resolution failed as it was not approved by at least 75% of disinterested shareholders.</li>
<li>The resumption of trading resolutions to restore the 10% free float requirement was passed. Trading will resume once the 10% free float requirement is met. </li>
<li>Minorities have secured a pyrrhic victory as 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> offer was light, but there is no obvious catalyst to re-rate the shares. Deal break price around S$21.49.</li>
</ul>


The Great Eastern Holdings (GE SP) delisting resolution failed as it was not approved by at least 75% of disinterested shareholders.
The resumption of trading resolutions to restore the 10% free float requirement was passed. Trading will resume once the 10% free float requirement is met. 
Minorities have secured a pyrrhic victory as the OCBC (OCBC SP) offer was light, but there is no obvious catalyst to re-rate the shares. Deal break price around S$21.49.


Great Eastern Holdings (GE SP): Minorities Secure a Pyrrhic Victory

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

<ul><li>Hong Kong office floor in Admiralty sells at a 17-year low, reflecting challenging market conditions in the region.</li><li>Brookfield strengthens APAC logistics presence with $588M NZ joint venture, highlighting growth opportunities in the sector.</li><li>Manulife IM acquires Sydney Logistics Park from KKR and Centennial for $35M, expanding their real estate portfolio in Australia.</li></ul>

Hong Kong office floor in Admiralty sells at a 17-year low, reflecting challenging market conditions in the region.Brookfield strengthens APAC logistics presence with $588M NZ joint venture, highlighting growth opportunities in the sector.Manulife IM acquires Sydney Logistics Park from KKR and Centennial for $35M, expanding their real estate portfolio in Australia.

Asia Real Estate Tracker (15-Apr-2025): HK Admiralty office floor sells at 17-year low.

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 (945 HK)

Manulife Financial Corporation’s Asian Surge – Will 31% APE Growth Continue in 2025?

Manulife Financial's second-quarter 2025 earnings call provides a comprehensive view of the company's performance and strategic direction. The...

Baptista Research

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

Great Eastern Holdings (GE SP): Minorities Secure a Pyrrhic Victory

Minorities have secured a pyrrhic victory as the OCBC (OCBC SP) offer was light, but there is no obvious catalyst to re-rate the shares. My...

Arun George

Asia Real Estate Tracker (15-Apr-2025): HK Admiralty office floor sells at 17-year low.

Hong Kong office floor sells low, Brookfield invests in APAC logistics, Manulife buys Sydney park, Emperor Group merges sites, EQT hires exec in...

Asia Real Estate Tracker

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