Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Smartkarma

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

Research Reinvented

Equity Capital Markets

We think the IPO is fairly valued and are concerned about its eroding market share. We would&nbsp;avoid this IPO:&nbsp;<ul><li>MYOB is a market leader in accounting software solutions&nbsp;in Australia and New Zealand (ANZ) for SMEs.&nbsp;However, MYOB has been late in providing cloud solutions and as a result it has been losing market share over the past few years. Despite its recent efforts to catch up, it still continues to lose market share.</li><li>We are also hearing that retail demand for the IPO has been lackluster.&nbsp;</li><li>We would wait for a better entry point post IPO: Lastly, we think the recent acquisition could help MYOB to provide more value-add solution when they are integrated with existing solution properly. We would like to see its integration effort pays off before we invest.</li></ul>

We think the IPO is fairly valued and are concerned about its eroding market share. We would&nbsp;avoid this IPO:&nbsp;MYOB is a market leader in accounting software solutions&nbsp;in Australia and New Zealand (ANZ) for SMEs.&nbsp;However, MYOB has been late in providing cloud solutions and as a result it has been losing market share over the past few years. Despite its recent efforts to catch up, it still continues to lose market share.We are also hearing that retail demand for the IPO has been lackluster.&nbsp;We would wait for a better entry point post IPO: Lastly, we think the recent acquisition could help MYOB to provide more value-add solution when they are integrated with existing solution properly. We would like to see its integration effort pays off before we invest.

Lagging behind in the cloud rush, R&D underspent, M&As to mitigate? Avoid.

Founder Evidente. Top rated quantitative analyst, Evidente

Sam Ferraro

Founder Evidente. Top rated quantitative analyst

Evidente

Evidente is an independent financial education firm that delivers innovative financial advice to wholesale investors, including active long only funds, hedge funds, pension funds, and sovereign wealth funds, in Australia and globally.  Drawing on academic research in asset pricing, behavioural finance and portfolio construction, Evidente provides wholesale investors with commercial solutions to stock selection and asset allocation decisions across equities and other asset classes.

Macroeconomics

The Reserve Bank Board meets today, a month after cutting the official cash rate (OCR) by 25 basis points&nbsp;to a multi-decade low of 2.25%.&nbsp; This followed an 18 month period of interest rate stability.&nbsp;&nbsp;&nbsp; There is a compelling case for the RBA to ease policy now to restore the psychology of risk taking in the economy and combat the new capital and cost discipline.&nbsp; But Mr Stevens has previously said that it is important that further cuts do not send a signal to the market that the economy is weak, at a time when consumer and business sentiment remain fragile.&nbsp; Thus, I believe that the May meeting presents the best opportunity to ease policy with the positive narrative of a lower inflation outlook following the release of the first quarter CPI in late April.

The Reserve Bank Board meets today, a month after cutting the official cash rate (OCR) by 25 basis points&nbsp;to a multi-decade low of 2.25%.&nbsp; This followed an 18 month period of interest rate stability.&nbsp;&nbsp;&nbsp; There is a compelling case for the RBA to ease policy now to restore the psychology of risk taking in the economy and combat the new capital and cost discipline.&nbsp; But Mr Stevens has previously said that it is important that further cuts do not send a signal to the market that the economy is weak, at a time when consumer and business sentiment remain fragile.&nbsp; Thus, I believe that the May meeting presents the best opportunity to ease policy with the positive narrative of a lower inflation outlook following the release of the first quarter CPI in late April.

The New Capital Discipline and the RBA's Line Ball Decision

Australia

MYOB Group Limited provides desktop and cloud business management software solutions. The Company offers accounting software, tax, payroll, and other business management software solutions, such as MYOB banklink, a desktop solution to deliver micro and small businesses transaction data from its bank to its accountant using live data feeds.

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MYOB Group Ltd (MYO AU)

Lagging behind in the cloud rush, R&D underspent, M&As to mitigate? Avoid.

We think the IPO is fairly valued and are concerned about its eroding market share. We would avoid this IPO: MYOB is a market leader in accounting...

Ke Yan, CFA, FRM

The New Capital Discipline and the RBA's Line Ball Decision

The Reserve Bank Board meets today, a month after cutting the official cash rate (OCR) by 25 basis points to a multi-decade low of 2.25%. This...

Sam Ferraro

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)