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

The Chinese Property Weekly focuses on providing updates in the Chinese real-estate sector, including recent regulatory and company developments, top and bottom performers, rating actions, as well as a list of bond maturities in the next 30 days.

  The Chinese Property Weekly focuses on providing updates in the Chinese real-estate sector, including recent regulatory and company developments, top and bottom performers, rating actions, as well as a list of bond maturities in the next 30 days. 

Chinese Property Weekly - 09 December 2022 - 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-6159'>China SCE</a></li><li><a href='#lucror-entity-18387'>CIFI Holdings</a></li><li><a href='#lucror-entity-8954'>Greentown China</a></li><li><a href='#lucror-entity-8108'>Hopson Development</a></li><li><a href='#lucror-entity-31037'>Sino-Ocean Service</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.China SCECIFI HoldingsGreentown ChinaHopson DevelopmentSino-Ocean Service

Morning Views Asia: China SCE, CIFI Holdings, Greentown China, Hopson Development, Sino-Ocean Service

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Country Garden Holdings Co / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/country-garden-holdings-co" target="_blank" data-smartkarma-citation="entities:5225:1" rel="noopener">Country Garden Holdings Co (2007 HK)</a>  aims to raise around US$500m via a primary placement</li>
<li>This will be the third placement by the company this year and the second one within a month’s time.</li>
<li>In this note, we will run the deal through our ECM framework and talk about the recent updates.</li>
</ul>



Country Garden Holdings Co (2007 HK)  aims to raise around US$500m via a primary placement
This will be the third placement by the company this year and the second one within a month’s time.
In this note, we will run the deal through our ECM framework and talk about the recent updates.


Country Garden Placement - Hot on the Heels of the Last Deal, Momentum Has Shifted

The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market.

  The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market. 

Asia HY Monthly - November 2022 - Lucror Analytics

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/medco-energi-internasional-tbk-pt' target='_blank' rel='noopener'>Medco Energi</a></li><li><a href='/entities/china-jinmao-holdings-group' target='_blank' rel='noopener'>China Jinmao Holdings</a></li><li><a href='/entities/guangzhou-r-f-properties-h' target='_blank' rel='noopener'>Guangzhou R&F Properties</a></li><li><a href='/entities/sunac-china-holdings-ltd' target='_blank' rel='noopener'>Sunac China Holdings</a></li><li><a href='/entities/china-evergrande-group' target='_blank' rel='noopener'>Evergrande</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:Medco EnergiChina Jinmao HoldingsGuangzhou R&F PropertiesSunac China HoldingsEvergrandeand more...

China

Guangzhou R&F Properties Co., Ltd. operates real estate businesses. The Company provides housing renovation, housing loans, real estate brokerage, property management, and other services. Guangzhou R&F Properties also operates hotel management.

YunNan Metropolitan Real Estate Development Co., Ltd. operates in property development business. It also manufactures and markets beer and fruit wines, plastic film for agricultural use and grows chinaberry.

Zhejiang Guangsha Co., Ltd. develops real estate and undertakes construction projects.  The Company also provides travel services and operates in property management.

Soho China Ltd. is a property developer. The Company develops properties in central Beijing and Shanghai. Soho China collaborates with internationally recognized architects, translating their designs into real estate which possesses strong appeal to property investors and the local businesses and customer bases they serve.

Hefei Urban Construction Development Co., LTD. develops residential properties. The company also markets and provides services to its related commercial properties.

Tianjin Tianbao Infrastructure Co., Ltd. manufactures and markets cement products and other construction materials.  The Company also develops and constructs real estate properties.

Tianjin Tianbao Infrastructure Co.Ltd. (000965 CH)

Zhongtian Financial Group Company Limited develops residential buildings in Guiyang, Guizhou province.  The Company also develops infrastructure facilities and operates in property management.

Shanghai Tianchen Co., Ltd. is an investment holding company.  Through its subsidiaries, the Company develops and manages real estate properties, provides taxi transportation services, offers driver training programs, operates parking lots and logistic zones, and manufactures pharmaceuticals. The Company also operates hotel and construction and renovation businesses.

Tianjin Jinbin Development Co., Ltd. operates a diversified business.  The Company provides construction machinery and tools leasing and rental service, sells general merchandise and real estate properties, distributes electricity and heat, and offers technology consulting services.

Lander Sports Development Co., Ltd. develops, manages, leases, and sells real estate properties. The Company also provides building materials delivery and warehousing services.

PT Puradelta Lestari Tbk is an industrial property developer. The Company sells industrial estate, residential and commercial land.

Far East Consortium International Limited, through its subsidiaries, develops and invests in real estate.  The Company also operates hotels.

Far East Consortium International (35 HK)

Sinarmas Land Ltd. invests in, develops and manages real estate.  The Company owns commercial buildings, hotels and resorts in China, Indonesia, Malaysia and Singapore.

Nirlon Ltd. develops real estate.  The Company develops office parks.

KSL Holdings Berhad is an investment holding company. Through its subsidiaries, the Company develops properties. KSL Holdings performs all aspects of development from land purchasing to final property inspection.

PT Duta Pertiwi Tbk operates as a holding company. The Company, through its subsidiaries, develop properties such as  malls, hotels, and office buildings. Duta Pertiwi Tbk serves clients in Indonesia.

Kolte-Patil Developers Ltd. builds residential housing, commercial complexes, and mixed residential and commercial projects.

Hung Sheng Construction Ltd. provides real estate services to meet both resident ial and commercial real estate needs.  The Company conducts primarily its busine ss in developing, selling, and leasing residential and commercial buildings whic h are constructed by independent constructors.

Hong Fok Corporation Limited is an investment holding company whose principal activities consist of property investment, property development, property management, and investment trading.

Shimao Property Holdings Limited develops real estate projects in China.

CIFI Holdings Group Co Ltd. is a real estate development company. The Company develops hotels and residential properties in China.

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CIFI Holdings (884 HK)

Chinese Property Weekly - 09 December 2022 - Lucror Analytics

The Chinese Property Weekly focuses on providing updates in the Chinese real-estate sector, including recent regulatory and company developments,...

Lucror Analytics

Morning Views Asia: China SCE, CIFI Holdings, Greentown China, Hopson Development, Sino-Ocean Service

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

Lucror Analytics

Country Garden Placement - Hot on the Heels of the Last Deal, Momentum Has Shifted

Country Garden Holdings Co (2007 HK) aims to raise around US$500m via a primary placement. In this note, we will run the deal through our ECM...

Sumeet Singh

Asia HY Monthly - November 2022 - Lucror Analytics

The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top...

Lucror Analytics

Weekly Wrap - 02 Dec 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

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