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

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.

   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

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar. 

Lucror Analytics - Morning Views Asia - 01 Nov 2018

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

Samator Indo Gas / Equity Capital Markets

PT Aneka Gas Industri, a leading industrial gas player in Indonesia, looking to raise up to US$89m (U$75m primary) in its IPO to pay down debt and fund expansion. In this insight, we will examine its business fundamentals, growth drivers, its competitive position in the industry, key operation and financial ratios, and its valuation. As usual, we will score the deal in our Smartkarma ECM Framework.

PT Aneka Gas Industri, a leading industrial gas player in Indonesia, looking to raise up to US$89m (U$75m primary) in its IPO to pay down debt and fund expansion. In this insight, we will examine its business fundamentals, growth drivers, its competitive position in the industry, key operation and financial ratios, and its valuation. As usual, we will score the deal in our Smartkarma ECM Framework. 

PT Aneka Gas Industri IPO: Major Capex Behind, Growth Ahead

Pt Cikarang Listrindo Tbk / Equity Capital Markets

PT Cikarang Listrindo, the first IPP in Indonesia, is selling up to US$357m worth of shares. <ul><li>In this insight, I examine its fundamentals, growth drivers, risks and shareholders. </li><li>Investors should know what are the assumptions for moving parts when comparing valuation to peers.</li><li>Last but not the least, our Smartkarma IPO framework rates the deal at the borderline for participation. </li></ul>

PT Cikarang Listrindo, the first IPP in Indonesia, is selling up to US$357m worth of shares. In this insight, I examine its fundamentals, growth drivers, risks and shareholders. Investors should know what are the assumptions for moving parts when comparing valuation to peers.Last but not the least, our Smartkarma IPO framework rates the deal at the borderline for participation. 

PT Cikarang Listrindo IPO: Patience Needed for Moving Parts To Settle

Indonesia

PT Cikarang Listrindo Tbk is a power company that provides energy to industrial and residential customers in Indonesia. The Company's plants use gas turbines that run on gas or liquid fuel. Cikarang Listrindo is based in Jakarta, Indonesia.

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Pt Cikarang Listrindo Tbk (POWR IJ)

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

Lucror Analytics - Morning Views Asia - 01 Nov 2018

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

PT Aneka Gas Industri IPO: Major Capex Behind, Growth Ahead

PT Aneka Gas Industri, a leading industrial gas player in Indonesia, looking to raise up to US$89m (U$75m primary) in its IPO to pay down debt and...

Ke Yan, CFA, FRM

PT Cikarang Listrindo IPO: Patience Needed for Moving Parts To Settle

PT Cikarang Listrindo, the first IPP in Indonesia, is selling up to US$357m worth of shares. In this insight, I examine its fundamentals, growth...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)