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.

High Yield Experts

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

Credit

Chandra Asri Petrochemical’s Q2 and H1/21 results were acceptable, considering the solid earnings growth. While cash flows were weak, we expect the company to achieve normalised working capital levels in H2, and generate positive OCF for the full year. In addition, CAP’s leverage profile and access to capital remains strong. We view positively CAP’s planned rights issuance and selection of Thai Oil as a strategic investor. If approved by regulators, the transactions would allow CAP to pre-fund around one-third of the c. USD 5 bn capex for the development of CAP2. We also believe the entry of SOE Thai Oil as a strategic minority investor will improve CAP’s corporate governance, while diluting the stakes of controlling shareholders Barito Pacific and Prajogo Pangestu.

  Chandra Asri Petrochemical’s Q2 and H1/21 results were acceptable, considering the solid earnings growth. While cash flows were weak, we expect the company to achieve normalised working capital levels in H2, and generate positive OCF for the full year. In addition, CAP’s leverage profile and access to capital remains strong.   We view positively CAP’s planned rights issuance and selection of Thai Oil as a strategic investor. If approved by regulators, the transactions would allow CAP to pre-fund around one-third of the c. USD 5 bn capex for the development of CAP2. We also believe the entry of SOE Thai Oil as a strategic minority investor will improve CAP’s corporate governance, while diluting the stakes of controlling shareholders Barito Pacific and Prajogo Pangestu. 

Chandra Asri - Earnings Flash - H1 FY 2021 Results - Lucror Analytics