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 Capital Markets

Summit Power Intl / Equity Capital Markets

<p>Summit Power International, the largest private IPP player in Bangladesh, is seeking to raise USD200 million to list in Singapore. In this insight, we will explore the following topics:</p><ul><li>What does the company do? What assets does it operate?</li><li>What is the landscape of Bangladesh power sector? Who are the players? Why are PPA contracts attractive?</li><li>What are the understated risks of the listing?</li><li>How does the company compare to its peers in financial metrics?</li><li>Where is the fair value of the company? Why is it tricky to put a fair value on the company?</li><li>How does the deal score in our ECM Framework? </li></ul>

Summit Power International, the largest private IPP player in Bangladesh, is seeking to raise USD200 million to list in Singapore. In this insight, we will explore the following topics:What does the company do? What assets does it operate?What is the landscape of Bangladesh power sector? Who are the players? Why are PPA contracts attractive?What are the understated risks of the listing?How does the company compare to its peers in financial metrics?Where is the fair value of the company? Why is it tricky to put a fair value on the company?How does the deal score in our ECM Framework? 

Summit Power Intl IPO: Visible Pipeline but Tricky Valuation for the Frontier Listing

Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Asean (Thailand) Focused Independent Research

M Corp Review

M Corp is led by Athaporn Arayasantiparb who served as Head of Research for UOB and ANZ in Thailand and was an award-winning telecoms analyst at UBS in 2010 (AsiaMoney Thailand category) and Regional Strategist for DMG in Singapore. Prior to that, he also served as Kasikornbank credit analyst and scholar. He has a total work experience of 17 years, of which 14 were in research and 4 in research management roles. He started his career as an engineer for PTT and currently manages family investments. He holds an MBA from Stern (NYU) and CFA Charter since 2006. Apart from IPO Radar, which focuses on future listings, MCorp Review also provides six on-going thematic series ranked by frequency in descending order, namely: 1) Silicon Stories (technology) 2) Sathorn Series (financial services) 3) Thai-Coons (billionaire origin stories) 4) Reality Check (data-driven, investigative) 5) Thai Media Spotlight; and 6) Thai Macro Watch (global market drivers).

Thematic (Sector/Industry)

<p>The first thing that struck us at <em>MCorp Review </em>is how some of these stocks are really expensive by the conventional sense, but they still did really well since New Year 2017. For some of the bigger stocks and sectors, we have lowered the standards a bit, but all of these guys cleared the 20% return bar easily. Considering the fact that it's not easy for big caps to beat the index returns (<em>because they are the index!), </em>that's no mean feat. For the smaller stocks, you'll note that the majority of…</p>

The first thing that struck us at MCorp Review is how some of these stocks are really expensive by the conventional sense, but they still did really well since New Year 2017. For some of the bigger stocks and sectors, we have lowered the standards a bit, but all of these guys cleared the 20% return bar easily. Considering the fact that it's not easy for big caps to beat the index returns (because they are the index!), that's no mean feat. For the smaller stocks, you'll note that the majority of…

Champions of 2017: Stocks With Eye-Popping Returns!

APAC IPOs & Placements

Zhen Zhou, Toh

Gulf Energy Development  / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/26038" target="_blank" data-smartkarma-citation="entities:26038:1">Gulf Energy Development Public Company Limited (GULF TB)</a> is looking to raise about US$700m in its upcoming IPO. Proceeds raised will be used to fund a portion of its equity contributions and provide loans to Gulf’s subsidiaries and associates and other companies as well as to invest in Gulf’s future power projects.</p><p>In this insight, we will look at the company's planned projects, its purchasing power agreement (PPA) with EGAT, track record with Japanese counterparts, and some risks that are associated with the projects. As usual, we will also run the IPO through our ECM framework.</p>

Gulf Energy Development Public Company Limited (GULF TB) is looking to raise about US$700m in its upcoming IPO. Proceeds raised will be used to fund a portion of its equity contributions and provide loans to Gulf’s subsidiaries and associates and other companies as well as to invest in Gulf’s future power projects.In this insight, we will look at the company's planned projects, its purchasing power agreement (PPA) with EGAT, track record with Japanese counterparts, and some risks that are associated with the projects. As usual, we will also run the IPO through our ECM framework.

GULF Energy IPO Review - Largest Power Plant Operator by Planned Capacity with Decent Upside

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

Tisco Financial Group / Technical Analysis

<p>Given the bullish SET 50 index pattern and chart set-up we scanned through the top 50 stocks in Thailand and came up with this group of stocks that show either leadership, attractive chart pattern and more favorable risk-to-reward.</p><p>Thai stock pick webcast:  <a href="https://www.screencast.com/t/wgsUHhEenp" target="_blank">https://www.screencast.com/t/wgsUHhEenp</a> 2:54 min</p><figure class="editor-figure mceNonEditable"><img class="editor-image img-responsive" src="https://static-prod.smartkarma.com/images/media/000/038/571/original/CPG%20INSERT.png?1511132340" data-smartkarma-image-id="38571"></figure><div class="content-caption">Thai stock webcast</div><p>At the top of our list has been Thanachart Capital that is breaking higher out of triangulation and leading the SET 50. TCAP is about to kiss our first target at 57.50 and then…</p>

Given the bullish SET 50 index pattern and chart set-up we scanned through the top 50 stocks in Thailand and came up with this group of stocks that show either leadership, attractive chart pattern and more favorable risk-to-reward.Thai stock pick webcast:  https://www.screencast.com/t/wgsUHhEenp 2:54 minThai stock webcastAt the top of our list has been Thanachart Capital that is breaking higher out of triangulation and leading the SET 50. TCAP is about to kiss our first target at 57.50 and then…

Attractive Thai Stocks for an SET Breakout

<p>Thailand-based power plant player B.Grimm Power launched book building to raise up to US$348m to fund its expansion and pay down debt. At Smartkarma, we covered recent Thai utility listings, including <a href="https://www.smartkarma.com/entities/23631" target="_blank" data-smartkarma-citation="entities:23631:1">Banpu Power PCL (BPP TB)</a>, <a href="https://www.smartkarma.com/entities/23995" target="_blank" data-smartkarma-citation="entities:23995:1">WHA Utilities and Power (WHAUP TB)</a>, and <a href="https://www.smartkarma.com/entities/24044" target="_blank" data-smartkarma-citation="entities:24044:1">TPI Polene Power Public Company Limited (TPIPP TB)</a>. In this insight, we will cover the background of the company, its growth, valuation and score the deal on our Smartkarma ECM framework. </p><div><h2>Deal and framework score overview</h2></div><p>The below…</p>

Thailand-based power plant player B.Grimm Power launched book building to raise up to US$348m to fund its expansion and pay down debt. At Smartkarma, we covered recent Thai utility listings, including Banpu Power PCL (BPP TB), WHA Utilities and Power (WHAUP TB), and TPI Polene Power Public Company Limited (TPIPP TB). In this insight, we will cover the background of the company, its growth, valuation and score the deal on our Smartkarma ECM framework. Deal and framework score overviewThe below…

B.Grimm Power IPO: Quality Name but Upside Capped by Leverage

Thailand

Global Power Synergy Company Ltd. (GPSC) provides utilities services. The Company generates and distributes electricity, steam, and processed water. GPSC serves customers in Thailand.

Global Power Synergy Company Ltd (GPSC TB)

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Global Power Synergy Company Ltd (GPSC TB)

Summit Power Intl IPO: Visible Pipeline but Tricky Valuation for the Frontier Listing

Summit Power International, the largest private IPP player in Bangladesh, is seeking to raise USD200 million to list in Singapore. In this insight,...

Ke Yan, CFA, FRM

Champions of 2017: Stocks With Eye-Popping Returns!

The first thing that struck us at MCorp Review is how some of these stocks are really expensive by the conventional sense, but they still did...

Athaporn Arayasantiparb, CFA

GULF Energy IPO Review - Largest Power Plant Operator by Planned Capacity with Decent Upside

Gulf Energy Development Public Company Limited (GULF TB) is looking to raise about US$700m in its upcoming IPO. Proceeds raised will be used to...

Zhen Zhou, Toh

Attractive Thai Stocks for an SET Breakout

Given the bullish SET 50 index pattern and chart set-up we scanned through the top 50 stocks in Thailand and came up with this group of stocks that...

Thomas Schroeder

B.Grimm Power IPO: Quality Name but Upside Capped by Leverage

Thailand-based power plant player B.Grimm Power launched book building to raise up to US$348m to fund its expansion and pay down debt. At...

Ke Yan, CFA, FRM

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