Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Thematic (Sector/Industry)

China’s banks are well-exposed to China’s Information Technology (IT) companies. We may sometimes forget this, where we tend to focus on industrial companies or State Owned Enterprises (SOE’s) as the only real credit risk. The interest surrounding the recent <a href="https://www.smartkarma.com/entities/24409" target="_blank" data-smartkarma-citation="entities:24409:1">Xiaomi Corp (1810 HK)</a> IPO is exceptional, but its financial metrics are weak and its creditors face repayment risk. This risk is apparent with many peer IT companies, where debt levels are rising and with weak debt/ebitda. We believe that…

China’s banks are well-exposed to China’s Information Technology (IT) companies. We may sometimes forget this, where we tend to focus on industrial companies or State Owned Enterprises (SOE’s) as the only real credit risk. The interest surrounding the recent Xiaomi Corp (1810 HK) IPO is exceptional, but its financial metrics are weak and its creditors face repayment risk. This risk is apparent with many peer IT companies, where debt levels are rising and with weak debt/ebitda. We believe that…

Xiaomi and China Banks: Poor China IT Financial Metrics, a Lessor Known Risk to China Banks

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

Semiconductor Manufacturing International Corp (SMIC) / Equity Bottom-Up

Semiconductor Manufacturing International Corp (SMIC)

<h2>Introduction</h2>Smartkarma clients following me know that I spend most of my time covering IPOs. What is actually interesting on the Smartkarma platform is the openness with which people can share ideas freely, unlike conventional research notes which is a one-way communication. There are many actionable ideas on the platform that I shall not spend time repeating.Over the course of my professional work, I have been in touch with many investors outside the Smartkarma community who exchange investment…

IntroductionSmartkarma clients following me know that I spend most of my time covering IPOs. What is actually interesting on the Smartkarma platform is the openness with which people can share ideas freely, unlike conventional research notes which is a one-way communication. There are many actionable ideas on the platform that I shall not spend time repeating.Over the course of my professional work, I have been in touch with many investors outside the Smartkarma community who exchange investment…

KY's Investing Note: Top Picks (IMax China, CGN Power, China Unicom, Travelsky, SMIC, Sands China)

Doing bespoke work since 2002....., Custom Products Group

Patrick Hansen

Doing bespoke work since 2002.....

Custom Products Group

Custom Products was started 14 years ago at Lehman Brothers by current co-founder Patrick Hansen, CFA. After 3 years at Lehman, Patrick moved the team to Macquarie Securities where Simon Rigney (co-founder) joined. 3 years ago we took Custom Products independent. 

Our core strength can be summed up three words. 1- Customization - we have very little off the shelf products and most work is done on a one on one bespoke basis. 2- Speed - We pride ourselves in our ability to get requests back to the client very quickly. 3- Confidentiality - We do not redistribute. There is no grace period where we wait a week and then mass blast. Any request stops with that client.

We screened for names that brokeout on strong volume yesterday. We define a breakout when a stock hits its 30-day high and has not hit a 30-day high in the last rolling 30-days. This way we avoid momentum names that are setting new highs each day and therefore we get a real breakout.<h2>Screen Criteria</h2><ol>
<li>Universe is Asia including Japan with Mkt-cap above 200bn USD</li>
<li>Yesterday's intraday high set a new 30-day high and over the last rolling 30 days a new high was not set. </li>
<li>Volume was greater than 1.5…</li>
</ol>

We screened for names that brokeout on strong volume yesterday. We define a breakout when a stock hits its 30-day high and has not hit a 30-day high in the last rolling 30-days. This way we avoid momentum names that are setting new highs each day and therefore we get a real breakout.Screen Criteria
Universe is Asia including Japan with Mkt-cap above 200bn USD
Yesterday's intraday high set a new 30-day high and over the last rolling 30 days a new high was not set. 
Volume was greater than 1.5…


Names that Brokeout Yesterday 7/20/2017 in Asia - 4 HK/China Property Names Made the List....

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

For those with the time and inclination, I have provided links to the Work Report (given by the Premier), the NDRC Draft Plan for National Economic and Social Development, and the Ministry of Finance Budget Report (previous year and plan for current year)  provided for Deputies to vote upon at the "Two Sessions" meetings of the National People's Congress (since 2000).Often, reading these reports is a somniferous affair. But they can hint at slight changes in priorities.I expect we will see much…

For those with the time and inclination, I have provided links to the Work Report (given by the Premier), the NDRC Draft Plan for National Economic and Social Development, and the Ministry of Finance Budget Report (previous year and plan for current year)  provided for Deputies to vote upon at the "Two Sessions" meetings of the National People's Congress (since 2000).Often, reading these reports is a somniferous affair. But they can hint at slight changes in priorities.I expect we will see much…

NPC17: National People's Congress Reports

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.

We recently screened the HKG and China markets for ideas with below market P/E ratios and Dividend Yields above 2% that traded more than US$1 mn per day.  This screen netted 207 names.We then screened for which companies have corporate governance scores over 70/100 from the Riedel Research Corporate Governance Scoring system.The RRG Corporate Governance system scores Emerging Market companies on 12 different criteria to measure board independence, alignment of interest with shareholders…

We recently screened the HKG and China markets for ideas with below market P/E ratios and Dividend Yields above 2% that traded more than US$1 mn per day.  This screen netted 207 names.We then screened for which companies have corporate governance scores over 70/100 from the Riedel Research Corporate Governance Scoring system.The RRG Corporate Governance system scores Emerging Market companies on 12 different criteria to measure board independence, alignment of interest with shareholders…

Actionable Value Ideas with Solid Corporate Governance in China and Hong Kong

China

CGN Power Co., Ltd. operates and manages nuclear power generating stations. The Company sells all of the electricity from its stations, manages, oversees the construction of nuclear power stations, and provides technical research plus develops support services. CGN Power has stations in Guangdong, Fujian and Liaoning, and is a subsidiary of China General Nuclear Power Corporation.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

CGN Power (1816 HK)

Xiaomi and China Banks: Poor China IT Financial Metrics, a Lessor Known Risk to China Banks

China’s banks are well-exposed to China’s Information Technology (IT) companies. We may sometimes forget this, where we tend to focus on industrial...

Daniel Tabbush

KY's Investing Note: Top Picks (IMax China, CGN Power, China Unicom, Travelsky, SMIC, Sands China)

IntroductionSmartkarma clients following me know that I spend most of my time covering IPOs. What is actually interesting on the Smartkarma...

Ke Yan, CFA, FRM

Names that Brokeout Yesterday 7/20/2017 in Asia - 4 HK/China Property Names Made the List....

We screened for names that brokeout on strong volume yesterday. We define a breakout when a stock hits its 30-day high and has not hit a 30-day...

Custom Products Group

NPC17: National People's Congress Reports

For those with the time and inclination, I have provided links to the Work Report (given by the Premier), the NDRC Draft Plan for National Economic...

Travis Lundy

Actionable Value Ideas with Solid Corporate Governance in China and Hong Kong

We recently screened the HKG and China markets for ideas with below market P/E ratios and Dividend Yields above 2% that traded more than US$1 mn...

David Riedel

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)