Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Thematic (Sector/Industry)

Korean companies are showing increasing willingness to buyback shares. Korea Stock Exchange announced that from beginning of this year to as of 27 July 2016, there were 64 listed companies that announced share buybacks, up 36% YoY.<div class="content-highlight">The alpha generation for share buybacks in Korea can be found in KOSDAQ listed companies. Of the 64 companies that announced share buybacks, 35 of them were listed in KOSDAQ. (The average price performance of these 35 companies were 8.5% from beginning of this year as…</div>

Korean companies are showing increasing willingness to buyback shares. Korea Stock Exchange announced that from beginning of this year to as of 27 July 2016, there were 64 listed companies that announced share buybacks, up 36% YoY.The alpha generation for share buybacks in Korea can be found in KOSDAQ listed companies. Of the 64 companies that announced share buybacks, 35 of them were listed in KOSDAQ. (The average price performance of these 35 companies were 8.5% from beginning of this year as…

Alpha Generation & Share Buybacks in Korea

Asia focused research insights & advisory, Asia Advisors

Vinay Patel

Asia focused research insights & advisory

Asia Advisors

Asia Advisors is an independent financial advisory and research firm working closely with corporates and institutions to provide consulting solutions & research insights. We provide advisory services including capital solutions, business strategy and investment insights.
Firm is headed by Vinay Patel who has close to two decades of experience in research and business development at large, international investment banks such as HSBC and ICICI Securities. Led research efforts in areas of Macroeconomics, Asset Allocation & Investment Strategy for close to a decade in global & domestic research teams. As a business head in Singapore, advised top global investment management firms & Portfolio managers in Asia for India related investments.
Vinay was recently joined by Swapnil Manish, an investment banker and ex-ecommerce entrepreneur with more than 12 years of experience. Swapnil was the TMT banker at BNP Paribas and was part of several large M&A and ECM transactions (Bharti-Zain, Bharti Infratel IPO, Schneider-Zicom among several others). He's also had a stint as an ecommerce entrepreneur having launched & led Mumbai's first online grocery player.

Fullerton India Credit Company Ltd, a locally registered Non-Banking Finance Company (NBFC) owned by Temasek via Fullerton Singapore, plans to issue masala bonds to international investors in order to diversify its funding sources. Masala bonds are rupee denominated offshore bonds quite similar to dim sum bonds issued by Chinese companies. After HDFC, the largest mortgage lender in India, became the first company last week to successfully place a Masala Bond issue more companies are eyeing this…

Fullerton India Credit Company Ltd, a locally registered Non-Banking Finance Company (NBFC) owned by Temasek via Fullerton Singapore, plans to issue masala bonds to international investors in order to diversify its funding sources. Masala bonds are rupee denominated offshore bonds quite similar to dim sum bonds issued by Chinese companies. After HDFC, the largest mortgage lender in India, became the first company last week to successfully place a Masala Bond issue more companies are eyeing this…

Fullerton India to Issue Masala Bonds for Local Ops; Investors in Yield Hunt Chase Cos for Issuance

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Event-Driven

It is now official that Samsung SDS will keep BPO and ITS as separate entities. That is, Samsung SDS has no plan to sell BPO to Samsung C&amp;T.* Samsung SDS said in a regulatory filing, “We have not reviewed, nor plan to consider, either selling our logistics business or merging it with Samsung C&amp;T after spinning it off.”So, it is almost certain that Samsung SDS will spin off BPO through equity spinoff, which is not the worst case scenario for SDS shareholders. As a result, BPO and ITS will be…

It is now official that Samsung SDS will keep BPO and ITS as separate entities. That is, Samsung SDS has no plan to sell BPO to Samsung C&amp;T.* Samsung SDS said in a regulatory filing, “We have not reviewed, nor plan to consider, either selling our logistics business or merging it with Samsung C&amp;T after spinning it off.”So, it is almost certain that Samsung SDS will spin off BPO through equity spinoff, which is not the worst case scenario for SDS shareholders. As a result, BPO and ITS will be…

Update on SDS Equity Spinoff and Ownership Stake in SEC

Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

Riedel Research

Riedel provides equity research and analysis to leading financial organizations. By becoming members of a region (Asia, Latin America, Emerging Europe or Global), organizations have access to an integrated set of services including:

Regular company coverage reports
Up-to-date investment decision advice (buy, hold, sell)
Monthly regional and global conference calls
Customized company reports and unlimited on-line access to the program's services.

Riedel provides research coverage of companies across the full range of market capitalization. Experienced research professionals in each market develop company reports and analysis as well as earnings models and projections. Ratings are Buy, Hold and Sell with a focus on compelling investment ideas - both long and short. Downloadable, dynamic earnings models are built to facilitate sensitivity analysis.

Please feel free to contact us for complimentary access to our written research.  We want to show you that our unique research flow can add value and help develop a long-term, high value-add relationship.

Riedel's model focuses on providing clients with unique insights and consulting in addition to unlimited access to all produced research This model allows members to receive exponential benefits for their retainer fees.

Corporate Governance:  Overview and Recent Additions<ul class="ul1"><li class="li2">Our proprietary corporate governance scoring system now covers 1,410 stocks.</li><li class="li2">Our scoring system produces a single score of 1 - 100 using 11 quantitative measures of the strength of governance and a qualitative 'analyst score' that reflects the reputation of management in the local markets.</li><li class="li2">Over a five year period companies with 'good' corporate governance (scores above 75) outperformed companies with 'bad' scores (below 50) by 26%.</li><li class="li2">Out of the new additions Samsung SDI - received a CG Score of just 40/100, among the lowest in the CG Universe.</li><li class="li2">The RRG system has successfully flagged frauds including Satyam Computer and RINO.</li></ul><ul class="ul1"><li class="li2">This report highlights recent additions to coverage and discusses the methodology, universe and performance.  An Excel of the full universe of scores is available on request.  We welcome requests from clients of names they want to see added to the universe.</li></ul>

Corporate Governance:  Overview and Recent AdditionsOur proprietary corporate governance scoring system now covers 1,410 stocks.Our scoring system produces a single score of 1 - 100 using 11 quantitative measures of the strength of governance and a qualitative 'analyst score' that reflects the reputation of management in the local markets.Over a five year period companies with 'good' corporate governance (scores above 75) outperformed companies with 'bad' scores (below 50) by 26%.Out of the new additions Samsung SDI - received a CG Score of just 40/100, among the lowest in the CG Universe.The RRG system has successfully flagged frauds including Satyam Computer and RINO.This report highlights recent additions to coverage and discusses the methodology, universe and performance.  An Excel of the full universe of scores is available on request.  We welcome requests from clients of names they want to see added to the universe.

The Good, The Bad and the Ugly: RRG Corporate Governance Scoring System Spots Likely Frauds in EM

Corporate Credit Analyst

Alan Greene

Recently announced industrial output figures for June suggest that Korea may be able to trade its way towards higher growth rates. However, at the same time, on 30 June, the Korea Times carried a headline “Bedroom shock: Korea's sexless rate ranked world's second”. The sovereign rating of its neighbour Japan has seen steady pressure for the last five years driven in part by its demographic profile. Korea's demographic profile is likely to deteriorate more rapidly than Japan's and we should therefore expect a similar debt induced stall in growth. The banking system is under pressure and this could soon translate into pressure on Korea's credit ratings.

Recently announced industrial output figures for June suggest that Korea may be able to trade its way towards higher growth rates. However, at the same time, on 30 June, the Korea Times carried a headline “Bedroom shock: Korea's sexless rate ranked world's second”. The sovereign rating of its neighbour Japan has seen steady pressure for the last five years driven in part by its demographic profile. Korea's demographic profile is likely to deteriorate more rapidly than Japan's and we should therefore expect a similar debt induced stall in growth. The banking system is under pressure and this could soon translate into pressure on Korea's credit ratings.

Can "sexless" Korea Beat the Demographic Cliff and Maintain Its Credit Rating?

South Korea

Samsung Life Insurance Co., Ltd. provides insurance services. The Company offers life and health insurance services. Samsung Life Insurance serves customers in South Korea.

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Samsung Life Insurance (032830 KS)

Fullerton India to Issue Masala Bonds for Local Ops; Investors in Yield Hunt Chase Cos for Issuance

Fullerton India Credit Company Ltd, a locally registered Non-Banking Finance Company (NBFC) owned by Temasek via Fullerton Singapore, plans to...

Asia Advisors

Update on SDS Equity Spinoff and Ownership Stake in SEC

It is now official that Samsung SDS will keep BPO and ITS as separate entities. That is, Samsung SDS has no plan to sell BPO to Samsung C&T.*...

Sanghyun Park

The Good, The Bad and the Ugly: RRG Corporate Governance Scoring System Spots Likely Frauds in EM

Corporate Governance: Overview and Recent Additions Our proprietary corporate governance scoring system now covers 1,410 stocks. Our scoring...

David Riedel

Can "sexless" Korea Beat the Demographic Cliff and Maintain Its Credit Rating?

Recently announced industrial output figures for June suggest that Korea may be able to trade its way towards higher growth rates. However, at the...

Alan Greene

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Alpha Generation & Share Buybacks in Korea

Korean companies are showing increasing willingness to buyback shares. Korea Stock Exchange announced that from beginning of this year to as of 27...

Douglas Kim

Fullerton India to Issue Masala Bonds for Local Ops; Investors in Yield Hunt Chase Cos for Issuance

Fullerton India Credit Company Ltd, a locally registered Non-Banking Finance Company (NBFC) owned by Temasek via Fullerton Singapore, plans to...

Asia Advisors

Update on SDS Equity Spinoff and Ownership Stake in SEC

It is now official that Samsung SDS will keep BPO and ITS as separate entities. That is, Samsung SDS has no plan to sell BPO to Samsung C&T.*...

Sanghyun Park

The Good, The Bad and the Ugly: RRG Corporate Governance Scoring System Spots Likely Frauds in EM

Corporate Governance: Overview and Recent Additions Our proprietary corporate governance scoring system now covers 1,410 stocks. Our scoring...

David Riedel

Can "sexless" Korea Beat the Demographic Cliff and Maintain Its Credit Rating?

Recently announced industrial output figures for June suggest that Korea may be able to trade its way towards higher growth rates. However, at the...

Alan Greene