Senior Credit Analyst, Lucror Analytics

Trung Nguyen

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

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Bukit Makmur Mandiri</li>
<li>UST yields fell 2-4 bps across the curve yesterday, on the back of a strong auction of 3Y notes. The yield on the 2Y UST declined 2 bps to 3.56%, while that on the 10Y UST was down 3 bps at 4.12%.</li>
<li>Equities retreated from record-high levels, weighed down by tech stocks. The S&amp;P 500 dropped 0.4% to 6,715 and the Nasdaq slumped 0.7% to 22,788.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Bukit Makmur Mandiri
UST yields fell 2-4 bps across the curve yesterday, on the back of a strong auction of 3Y notes. The yield on the 2Y UST declined 2 bps to 3.56%, while that on the 10Y UST was down 3 bps at 4.12%.
Equities retreated from record-high levels, weighed down by tech stocks. The S&amp;P 500 dropped 0.4% to 6,715 and the Nasdaq slumped 0.7% to 22,788.


<ul>
<li>PT Delta Dunia Makmur Tbk (BUMA) is a holding company with an operational entity, PT Bukit Makmur Mandiri Utama, which is one of the largest coal-mining contractors in Indonesia by production volume.</li>
<li>Its two other subsidiaries, PT Banyubiru Sakti and PT Pulau Mutiara Persada, are non-active entities which held coal exploration permits.</li>
<li>Formerly a textile business, BUMA was transformed into a real estate company in 2008 following the sale of the erstwhile business. </li>
</ul>


PT Delta Dunia Makmur Tbk (BUMA) is a holding company with an operational entity, PT Bukit Makmur Mandiri Utama, which is one of the largest coal-mining contractors in Indonesia by production volume.
Its two other subsidiaries, PT Banyubiru Sakti and PT Pulau Mutiara Persada, are non-active entities which held coal exploration permits.
Formerly a textile business, BUMA was transformed into a real estate company in 2008 following the sale of the erstwhile business. 


Delta Dunia Makmur - ESG Report - Lucror Analytics

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Delta Dunia Makmur, Gajah Tunggal</li>
<li>In the US, the trade deficit narrowed to USD 73.8 bn in October (USD 75.0 bn e / USD 83.8 bn revised). Imports fell 4% to USD 339.6 bn, while exports declined 1.6% to USD 265.7 bn.</li>
<li>Separately, initial jobless claims for the week ended November 30th rose to 224 k (215 k e / 215 k revised p). The focus today is on the November nonfarm payrolls report.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Delta Dunia Makmur, Gajah Tunggal
In the US, the trade deficit narrowed to USD 73.8 bn in October (USD 75.0 bn e / USD 83.8 bn revised). Imports fell 4% to USD 339.6 bn, while exports declined 1.6% to USD 265.7 bn.
Separately, initial jobless claims for the week ended November 30th rose to 224 k (215 k e / 215 k revised p). The focus today is on the November nonfarm payrolls report.


Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Coronado Global Resources Inc / Event-Driven

<ul>
<li>Declining coking coal prices, operational issues, a credit rating downgrade, and Sev.en Global's failed Offer, have resulted in met coal play <a href="https://www.smartkarma.com/entities/coronado-global-resources-inc" target="_blank" data-smartkarma-citation="entities:27473:1" rel="noopener">Coronado (CRN AU)</a>'s shares trading around an all-time low. </li>
<li>Shares popped 14.8% today, and are now up ~48% from its all-time low a month ago.</li>
<li>What gives? Coronado has already confirmed the potential sale of a minority interest in certain assets. But there is speculation a full Offer may be in the wings.</li>
</ul>


Declining coking coal prices, operational issues, a credit rating downgrade, and Sev.en Global's failed Offer, have resulted in met coal play Coronado (CRN AU)'s shares trading around an all-time low. 
Shares popped 14.8% today, and are now up ~48% from its all-time low a month ago.
What gives? Coronado has already confirmed the potential sale of a minority interest in certain assets. But there is speculation a full Offer may be in the wings.


Coronado Global (CRN AU): Partial/Full Sale? Something's Up (As Is The Share Price)

Global Head of Research & Head of Europe, Lucror Analytics

Felix Fischer

Global Head of Research & Head of Europe

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:
<ol>
<li><a href="https://www.smartkarma.com/entities/sk-hynix-inc" target="_blank" rel="noopener">SK Hynix</a></li>
<li><a href="https://www.smartkarma.com/entities/adani-transmission-ltd" target="_blank" rel="noopener">Adani Transmission</a></li>
<li><a href="https://www.smartkarma.com/entities/adani-green-energy-ltd" target="_blank" rel="noopener">Adani Green Energy</a></li>
<li><a href="https://www.smartkarma.com/entities/cifi-holdings-group-co-ltd" target="_blank" rel="noopener">CIFI Holdings</a></li>
<li><a href="https://www.smartkarma.com/entities/rakuten-group-inc" target="_blank" rel="noopener">Rakuten</a></li>
</ol>
and more...

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:

SK Hynix
Adani Transmission
Adani Green Energy
CIFI Holdings
Rakuten

and more...

Indonesia

PT Buma Internasional Grup Tbk operates as a holding company. The Company, through its subsidiaries, provides open-cut coal mining services. Buma Internasional Grup Tbk serves customers in Indonesia and Australia.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

PT Buma Internasional Grup (DOID IJ)

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Bukit Makmur Mandiri

Lucror Analytics

Delta Dunia Makmur - ESG Report - Lucror Analytics

The company was transformed again in 2009, acquiring 99.9% of Bukit Makmur Mandiri Utama and selling the real estate business. BUMA is listed on...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Delta Dunia Makmur, Gajah Tunggal

Lucror Analytics

Weekly Wrap - 25 Oct 2024

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and...

Lucror Analytics

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Bukit Makmur Mandiri

Lucror Analytics

Delta Dunia Makmur - ESG Report - Lucror Analytics

The company was transformed again in 2009, acquiring 99.9% of Bukit Makmur Mandiri Utama and selling the real estate business. BUMA is listed on...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Delta Dunia Makmur, Gajah Tunggal

Lucror Analytics

Coronado Global (CRN AU): Partial/Full Sale? Something's Up (As Is The Share Price)

At 0.1x P/B, trading around a lifetime low share price, and talk of a possible sale of assets, even if partial, you're hard pressed to be bearish...

David Blennerhassett

Weekly Wrap - 25 Oct 2024

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and...

Lucror Analytics