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.

Credit

<p><br />  The Asia HY Trade Recommendations report for January includes a summary of our recommendations, as well as our high-conviction ideas. We also provide relative-value charts and lists of the bonds in the Lucror Asia HY index. </p>

   The Asia HY Trade Recommendations report for January includes a summary of our recommendations, as well as our high-conviction ideas. We also provide relative-value charts and lists of the bonds in the Lucror Asia HY index. 

Asia HY Trade Recommendations - January 2019 - Lucror Analytics

<p><br />  In this month’s “In-Focus” section, we discuss Corporate Governance in Chinese Companies. Specifically, we highlight: [1] the nascent development of the Chinese corporate governance regime; [2] the lack of strong external examination/review; [3] different types of Chinese public companies; and [4] Lucror’s approach to assessing corporate governance.<br /><br />  The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the "In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market. </p>

   In this month’s “In-Focus” section, we discuss Corporate Governance in Chinese Companies. Specifically, we highlight: [1] the nascent development of the Chinese corporate governance regime; [2] the lack of strong external examination/review; [3] different types of Chinese public companies; and [4] Lucror’s approach to assessing corporate governance.    The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the "In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market. 

Asia HY Monthly - Corporate Governance In Chinese Companies - Lucror Analytics

APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

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

Research Reinvented

Equity Capital Markets

Dm Wenceslao And Associates / Equity Capital Markets

<div class="content-highlight"><h2>Summary from previous <a href="https://www.smartkarma.com/insights/dm-wenceslao-pre-ipo-review-a-bet-on-aseana-city" target="_blank">Insight</a>
</h2></div><ul>
<li>
<a href="https://www.smartkarma.com/entities/26806" target="_blank" data-smartkarma-citation="entities:26806:1">Dm Wenceslao And Associates (DMW PM)</a> 's large land bank in Aseana City at a low cost gives the company an advantage over other larger property developers in such as Ayala Land and SM Prime.</li>
<li>The company has been able to diversify its revenue stream away from rental income by selling its non-core land holdings and converting the remaining into investment properties for residential and commercial purposes.</li>
<li>Visibility in future growth can be seen clearly from its…</li>
</ul>

Summary from previous Insight


Dm Wenceslao And Associates (DMW PM) 's large land bank in Aseana City at a low cost gives the company an advantage over other larger property developers in such as Ayala Land and SM Prime.
The company has been able to diversify its revenue stream away from rental income by selling its non-core land holdings and converting the remaining into investment properties for residential and commercial purposes.
Visibility in future growth can be seen clearly from its…


DM Wenceslao IPO Review - Priced To Reflect Concentration Risk

<p><a href="https://www.smartkarma.com/entities/26806" target="_blank" data-smartkarma-citation="entities:26806:1">Dm Wenceslao And Associates (DMW PM)</a> is looking to raise approximately US$300m in its upcoming IPO. Proceeds raised will be mainly used to fund the development of its pipeline projects, obtain land assets through potential share acquisitions.</p><p>In this insight, we will look at the company's financial and operational performance in the past three years, its different business segments, and compare it against other Philippines-listed property developers. </p>

Dm Wenceslao And Associates (DMW PM) is looking to raise approximately US$300m in its upcoming IPO. Proceeds raised will be mainly used to fund the development of its pipeline projects, obtain land assets through potential share acquisitions.In this insight, we will look at the company's financial and operational performance in the past three years, its different business segments, and compare it against other Philippines-listed property developers. 

DM Wenceslao Pre-IPO Review - A Bet on Aseana City

Asia's Leading Online Property Group, PropertyGuru

Bjorn Sprengers

Asia's Leading Online Property Group

PropertyGuru

PropertyGuru Pte Ltd owns and operates a real estate property information website. The Company offers facilities to search for condominiums, apartments, Housing and Development Board (HDB) flats, serviced apartments, houses, and commercial properties to rent and buy in Singapore.

Thematic (Sector/Industry)

<p>The Philippines is fast becoming one of Asia’s favourite real estate investment hotspots.</p><p>With the number of condominium developments being planned and built in the country, the average gross rental yield of Philippine real estate is among the highest in the region. This may be attributable to a couple of factors – the BPO (Business Process Outsourcing) industry, which is steadily attracting expatriates and top Philippine talent alike, and to some extent, the influx of retirees, both local and…</p>

The Philippines is fast becoming one of Asia’s favourite real estate investment hotspots.With the number of condominium developments being planned and built in the country, the average gross rental yield of Philippine real estate is among the highest in the region. This may be attributable to a couple of factors – the BPO (Business Process Outsourcing) industry, which is steadily attracting expatriates and top Philippine talent alike, and to some extent, the influx of retirees, both local and…

Philippines' Most Popular Condos for Rent

Philippines

Megaworld Corporation, through its subsidiaries, operates in the real estate and hotel businesses as well as provides marketing services. The Company provides a wide array of product from condominiums to subdivisions developments.

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Megaworld Corp (MEG PM)

Asia HY Trade Recommendations - January 2019 - Lucror Analytics

The Asia HY Trade Recommendations report for January includes a summary of our recommendations, as well as our high-conviction ideas. We also...

Lucror Analytics

Asia HY Monthly - Corporate Governance In Chinese Companies - Lucror Analytics

In this month’s “In-Focus” section, we discuss Corporate Governance in Chinese Companies. Specifically, we highlight: [1] the nascent development...

Lucror Analytics

DM Wenceslao IPO Review - Priced To Reflect Concentration Risk

Summary from previous Insight Dm Wenceslao And Associates (DMW PM) 's large land bank in Aseana City at a low cost gives the company an advantage...

Zhen Zhou, Toh

DM Wenceslao Pre-IPO Review - A Bet on Aseana City

Dm Wenceslao And Associates (DMW PM) is looking to raise approximately US$300m in its upcoming IPO. Proceeds raised will be mainly used to fund the...

Zhen Zhou, Toh

Philippines' Most Popular Condos for Rent

The Philippines is fast becoming one of Asia’s favourite real estate investment hotspots.With the number of condominium developments being planned...

PropertyGuru

Price Gauge

52-week Range

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