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

Vista Land & Lifescapes' (VLL) H1/24 results were acceptable, with improved earnings and margin expansion. That said, cash flows stayed negative and debt continued to rise. Hence, leverage remained moderately weak. VLL maintains a sizeable portfolio of securities investment and investment properties, which generate recurring income and support the balance sheet. The investments could also be monetised if needed, albeit their market value is unclear. We expect the company's liquidity needs to be manageable, given VLL's reasonable access to funding.

  Vista Land & Lifescapes' (VLL) H1/24 results were acceptable, with improved earnings and margin expansion. That said, cash flows stayed negative and debt continued to rise. Hence, leverage remained moderately weak.   VLL maintains a sizeable portfolio of securities investment and investment properties, which generate recurring income and support the balance sheet. The investments could also be monetised if needed, albeit their market value is unclear. We expect the company's liquidity needs to be manageable, given VLL's reasonable access to funding. 

Vista Land & Lifescapes - Earnings Flash - H1 FY 2024 Results - 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.<ul><li><a href='#lucror-entity-18561'>JSW Steel Ltd</a></li><li><a href='#lucror-entity-18262'>Vista Land & Lifescapes</a></li></ul>

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.JSW Steel LtdVista Land & Lifescapes

Morning Views Asia: JSW Steel Ltd, Vista Land & Lifescapes

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.<ul><li><a href='#lucror-entity-18262'>Vista Land & Lifescapes</a></li></ul>

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.Vista Land & Lifescapes

Morning Views Asia: Vista Land & Lifescapes

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.<ul><li><a href='#lucror-entity-2312'>Alam Sutera Realty</a></li><li><a href='#lucror-entity-10946'>Lippo Malls Indonesia Retail Trust</a></li><li><a href='#lucror-entity-18262'>Vista Land & Lifescapes</a></li><li><a href='#lucror-entity-473'>Wynn Macau Ltd</a></li></ul>

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.Alam Sutera RealtyLippo Malls Indonesia Retail TrustVista Land & LifescapesWynn Macau Ltd

Morning Views Asia: Alam Sutera Realty, Lippo Malls Indonesia Retail Trust, Vista Land & Lifescapes

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.<ul><li><a href='#lucror-entity-18561'>JSW Steel Ltd</a></li><li><a href='#lucror-entity-10946'>Lippo Malls Indonesia Retail Trust</a></li><li><a href='#lucror-entity-182'>Sands China</a></li><li><a href='#lucror-entity-2979'>Tata Steel Thailand</a></li><li><a href='#lucror-entity-22202'>Vedanta Resources</a></li><li><a href='#lucror-entity-18262'>Vista Land & Lifescapes</a></li></ul>

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.JSW Steel LtdLippo Malls Indonesia Retail TrustSands ChinaTata Steel ThailandVedanta ResourcesVista Land & Lifescapes

Morning Views Asia: JSW Steel Ltd, Lippo Malls Indonesia Retail Trust, Sands China

Philippines

Vista Land & Lifescapes, Inc. is an integrated property developer and homebuilder in the Philippines. It specializes in developing horizontal properties, master-planned communities, and vertical residences, and also operates shopping malls, commercial centers, and BPO offices. The company was incorporated in 2007 and is headquartered in Las Pinas City, Philippines.

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Vista Land (VLL PM)

Vista Land & Lifescapes - Earnings Flash - H1 FY 2024 Results - Lucror Analytics

Vista Land & Lifescapes' (VLL) H1/24 results were acceptable, with improved earnings and margin expansion. That said, cash flows stayed...

Lucror Analytics

Morning Views Asia: JSW Steel Ltd, Vista Land & Lifescapes

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

Lucror Analytics

Morning Views Asia: Vista Land & Lifescapes

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

Lucror Analytics

Morning Views Asia: Alam Sutera Realty, Lippo Malls Indonesia Retail Trust, Vista Land & Lifescapes

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

Lucror Analytics

Morning Views Asia: JSW Steel Ltd, Lippo Malls Indonesia Retail Trust, Sands China

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

Lucror Analytics

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52-week Range

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