Beware of NPL Coverage Trends Across Asia
Do not be lulled by a false sense of security with high NPL coverage. The figures can decline quickly and China is the quintessential example....
246 Views
Assessing Driver of Moats in Retail Shopping Centres
We view high quality shopping centres as benefiting from strong competitive advantages, and generally ascribe narrow economic moat ratings to...
301 Views
Could be the start of a few more cornerstone exits
An IPO cornerstone investor plans to raise US$370m through selling their entire stake in Dalian Wanda.The stock is now 30% above IPO price and...
282 Views
China Property / Debt - when Kaisa broke our Trust
Kaisa failed to make an interest payment due Jan 8 on $500 million of 10.25% dollar bonds (the first Chinese property company to default on...
303 Views
Reasonable valuation and possible index inclusion make us positive on the deal despite debt concerns
We would take the deal.For Momentum/Liquidity Strategy investors the deal scores reasonably well on our Momentum-Adjusted IPO Framework, while for...
287 Views