Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Thematic (Sector/Industry)

China’s banking regulator, CBRC, released 2016 operating data for commercial banks, with net profit up 3.5% from 2015. Fourth-quarter earnings remained tough as preprovision operating profit growth fell to zero from the year-ago period. Slowing growth was attributable to asset yield compression and lower fee income growth in the quarter, while lower credit costs versus the year-ago period partially offset the negatives.We expect zero or negative net profit growth for large Chinese banks and low-single digit growth for joint-stock banks in our coverage. At this stage, we are sticking with our fair value estimates for Chinese banks we cover.Coverage list: <a href="https://www.smartkarma.com/entities/1120" target="_blank" data-smartkarma-citation="entities:1120:1">Agricultural Bank Of China Limited (1288 HK)</a> | <a href="https://www.smartkarma.com/entities/656" target="_blank" data-smartkarma-citation="entities:656:1">Bank Of China Ltd (H) (3988 HK)</a> | <a href="https://www.smartkarma.com/entities/1119" target="_blank" data-smartkarma-citation="entities:1119:1">Ind &amp; Comm Bk Of China H (1398 HK)</a> | <a href="https://www.smartkarma.com/entities/45" target="_blank" data-smartkarma-citation="entities:45:1">China Construction Bank H (939 HK)</a> and othersAnalysts: Iris Tan, CFA and Michael Wu, CAIA

China’s banking regulator, CBRC, released 2016 operating data for commercial banks, with net profit up 3.5% from 2015. Fourth-quarter earnings remained tough as preprovision operating profit growth fell to zero from the year-ago period. Slowing growth was attributable to asset yield compression and lower fee income growth in the quarter, while lower credit costs versus the year-ago period partially offset the negatives.We expect zero or negative net profit growth for large Chinese banks and low-single digit growth for joint-stock banks in our coverage. At this stage, we are sticking with our fair value estimates for Chinese banks we cover.Coverage list: Agricultural Bank Of China Limited (1288 HK) | Bank Of China Ltd (H) (3988 HK) | Ind &amp; Comm Bk Of China H (1398 HK) | China Construction Bank H (939 HK) and othersAnalysts: Iris Tan, CFA and Michael Wu, CAIA

4Q: Industrywide Bad-Debt Ratio Fell, While We Believe Credit Cycle Has Yet to Peak

Independent, global risk consultancy, Control Risks

Aparajita Verma

Independent, global risk consultancy

Control Risks

Control Risks is an independent, global risk consultancy specialising in helping organisations manage political, integrity and security risks in complex and hostile environments. We support clients by providing strategic consultancy, expert analysis and in-depth investigations, handling sensitive political issues and providing practical on-the-ground protection and support.

Our unique combination of services, geographical reach and the trust our clients place in us ensure we can help them to effectively solve their problems and realise new opportunities across the world.

<h2>The standard approach to due diligence</h2>Due diligence tries to understand the background of a company or individual before entering a formal business relationship. This traditionally focuses on financial, legal and reputational aspects of the subject company and its principals. Reputational (or integrity) due diligence usually addresses questions about key areas such as the subject’s background and business track record, where real control and decision-making lie, and how the company wins…

The standard approach to due diligenceDue diligence tries to understand the background of a company or individual before entering a formal business relationship. This traditionally focuses on financial, legal and reputational aspects of the subject company and its principals. Reputational (or integrity) due diligence usually addresses questions about key areas such as the subject’s background and business track record, where real control and decision-making lie, and how the company wins…

Broader Due Diligence for a More Complex China Market

China

The MSCI China Index is a free-float weighted equity index. It was developed with a base value of 100 as of December 31, 1992.

MSCI China Index (MXCN INDEX)

4Q: Industrywide Bad-Debt Ratio Fell, While We Believe Credit Cycle Has Yet to Peak

China’s banking regulator, CBRC, released 2016 operating data for commercial banks, with net profit up 3.5% from 2015. Fourth-quarter earnings...

Morningstar, Inc.

Broader Due Diligence for a More Complex China Market

The standard approach to due diligenceDue diligence tries to understand the background of a company or individual before entering a formal business...

Control Risks