Daily Brief Singapore: MGM China Holdings, Ohmyhome , Webuy and more

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.

• Lippo Karawaci
• Lippo Malls Indonesia Retail Trust
• MGM China Holdings
• SK Hynix

• Ohmyhome Property Management continues to increase the number of residential units managed.
• The business unit managed 6,746 residential units as of December 31, 2023, up about 45% compared to some 4,648 units at the end of 2022, according to the company’s filings, and up from 2,962 at the end of 2021.
• The goal is to continue to increase the number of units under management, which Ohmyhome believes will contribute to consolidated revenue growth.

• We are initiating coverage of Webuy Global (WBUY) with a $0.85 target valuation.
• Webuy Global is a community-based buying group platform that sells groceries, fresh produce, and packaged travel tours through its app in Indonesia and Singapore.
• The company is attempting to leverage its customer relationships to expand into additional markets where group buying has shown promise, like insurance.