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

This month, we review the developments of 2021, and give our outlook for the year ahead.  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.

  This month, we review the developments of 2021, and give our outlook for the year ahead.    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 - 2021 In Review And 2022 Outlook - 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-227'>Guangzhou R&F Properties</a></li><li><a href='#lucror-entity-3121'>Lippo Karawaci</a></li><li><a href='#lucror-entity-17982'>Sawit Sumbermas Sarana</a></li><li><a href='#lucror-entity-14882'>Seazen (Formerly Future Land)</a></li><li><a href='#lucror-entity-240'>Sunac China Holdings</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.Guangzhou R&F PropertiesLippo KarawaciSawit Sumbermas SaranaSeazen (Formerly Future Land)Sunac China Holdings

Morning Views Asia: Guangzhou R&F Properties, Lippo Karawaci, Sawit Sumbermas Sarana

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:<ol><li><a href='/entities/yuzhou-group-holdings-company-limited' target='_blank' rel='noopener'>Yuzhou Group</a></li><li><a href='/entities/agile-property-holdings-ltd' target='_blank' rel='noopener'>Agile Property Holdings</a></li><li><a href='/entities/central-china-real-estate-ltd' target='_blank' rel='noopener'>Central China Real Estate</a></li><li><a href='/entities/logan-property-holdings-co-ltd' target='_blank' rel='noopener'>Logan Property Holdings</a></li><li><a href='/entities/times-china-holdings-ltd' target='_blank' rel='noopener'>Times China</a></li></ol>and more...

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:Yuzhou GroupAgile Property HoldingsCentral China Real EstateLogan Property HoldingsTimes Chinaand more...

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/keisei-electric-railway-co" target="_blank" data-smartkarma-citation="entities:10876:1" rel="noopener">Keisei Electric Railway Co (9009 JP)</a>'s extreme bifurcation with <a href="https://www.smartkarma.com/entities/oriental-land-co-ltd" target="_blank" data-smartkarma-citation="entities:13517:1" rel="noopener">Oriental Land (4661 JP)</a>, widens even more. The holding in Oriental Land is now worth 275% of Keisei's market cap. </li>
<li>The fact that we don't KNOW what Murakami-san did and <a href="https://www.smartkarma.com/entities/shinsei-bank-ltd" target="_blank" data-smartkarma-citation="entities:16897:1" rel="noopener">Shinsei Bank (8303 JP)</a> shares fell in large volume Friday AND pro-ration was 100% will lead to higher-than-expectd volatility.</li>
<li>The placement, the pledge, the connected party transaction, and a large parcel of shares moving into CCASS (ostensibly the founder/chairman's), suggest all is not well with <a href="https://www.smartkarma.com/entities/shimao-property-holdings-limited" target="_blank" data-smartkarma-citation="entities:8375:1" rel="noopener">Shimao Property (813 HK)</a>. </li>
</ul>



Keisei Electric Railway Co (9009 JP)'s extreme bifurcation with Oriental Land (4661 JP), widens even more. The holding in Oriental Land is now worth 275% of Keisei's market cap. 
The fact that we don't KNOW what Murakami-san did and Shinsei Bank (8303 JP) shares fell in large volume Friday AND pro-ration was 100% will lead to higher-than-expectd volatility.
The placement, the pledge, the connected party transaction, and a large parcel of shares moving into CCASS (ostensibly the founder/chairman's), suggest all is not well with Shimao Property (813 HK). 


Last Week in Event SPACE: Keisei Electric, Shinsei Bank, Shimao, Sawada, Virtus, Senex Energy

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:<ol><li><a href='/entities/china-south-city-holdings' target='_blank' rel='noopener'>China South City</a></li><li><a href='/entities/china-jinmao-holdings-group' target='_blank' rel='noopener'>China Jinmao Holdings</a></li><li><a href='/entities/lifestyle-international-holdings-ltd' target='_blank' rel='noopener'>Lifestyle International Holdings</a></li><li><a href='/entities/geely-automobile-holdings-ltd' target='_blank' rel='noopener'>Geely Auto</a></li><li><a href='/entities/kaisa-group-holdings-ltd' target='_blank' rel='noopener'>Kaisa Group Holdings</a></li></ol>and more...

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:China South CityChina Jinmao HoldingsLifestyle International HoldingsGeely AutoKaisa Group Holdingsand more...

China

Sunac China Holdings Limited is a real estate development company.

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Sunac China Holdings (1918 HK)

Asia HY Monthly - 2021 In Review And 2022 Outlook - Lucror Analytics

This month, we review the developments of 2021, and give our outlook for the year ahead. The Asia Monthly focuses on providing updates on...

Lucror Analytics

Morning Views Asia: Guangzhou R&F Properties, Lippo Karawaci, Sawit Sumbermas Sarana

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

Lucror Analytics

Weekly Wrap - 07 Jan 2022

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and...

Lucror Analytics

Last Week in Event SPACE: Keisei Electric, Shinsei Bank, Shimao, Sawada, Virtus, Senex Energy

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

Weekly Wrap - 17 Dec 2021

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and...

Lucror Analytics

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