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.

Equity Bottom-Up

<ul>
<li>Tong Yang Industry is now seeing record profit in FY23 and this appears to be in place to continue during FY24</li>
<li>The automobile and motorcycle parts manufacturing company is seeing strong growth in the US market</li>
<li>Electric vehicle parts R&amp;D is well underway and this should support continued growth in coming years</li>
</ul>


Tong Yang Industry is now seeing record profit in FY23 and this appears to be in place to continue during FY24
The automobile and motorcycle parts manufacturing company is seeing strong growth in the US market
Electric vehicle parts R&amp;D is well underway and this should support continued growth in coming years


Tong Yang Industry - Record Profit With Improving Financial Position

Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

<ul>
<li>In KOSPI, all eyes are on Ottogi Corporation, a constituent of the KOSPI 200 index. 8.38% of SO's shares are about to be unleashed.</li>
<li>In KOSDAQ, the focus is on CanariaBio and Coocon Corp, both of which are constituents of the KOSDAQ 150. They are set to release shares on October 28th.</li>
<li>For Fadu, a two-month IPO lock-up is being released, accounting for 2.5% of SO.</li>
</ul>


In KOSPI, all eyes are on Ottogi Corporation, a constituent of the KOSPI 200 index. 8.38% of SO's shares are about to be unleashed.
In KOSDAQ, the focus is on CanariaBio and Coocon Corp, both of which are constituents of the KOSDAQ 150. They are set to release shares on October 28th.
For Fadu, a two-month IPO lock-up is being released, accounting for 2.5% of SO.


Details About KOSPI & KOSDAQ Lock-Up Release Stocks for October

South Korea

Dongkook Industrial Co., Ltd. manufactures automobile parts, such as radiators, heating systems, air conditioners, steering wheels, and glove boxes.  The Company supplies its products to Hyundai Motor and Kia Motors.

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Dongkook Industrial (001620 KS)

Tong Yang Industry - Record Profit With Improving Financial Position

Strong 2Q24 results just out: NTD1.04bn vs NTD758m net profit. Continues to shows ongoing earnings strength, even after exceptional 1Q24.

Daniel Tabbush

Details About KOSPI & KOSDAQ Lock-Up Release Stocks for October

This post provides information regarding the October lock-up release stocks in KOSPI and KOSDAQ and explores the stocks requiring our special...

Sanghyun Park

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