Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

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Equity Capital Markets

Matahari Department Store / Equity Capital Markets

Lippo group plans to selldown 14.6% of its stake, amounting to 3% of the company for US$125m. This will be the second selldown this year for the stock after the earlier selldown by CVC in May-16. We had covered that deal as well, <a href="https://www.smartkarma.com/insights/matahari-dept-placement-well-known-indo-consumer-name-now-at-discount" target="_blank" data-smartkarma-citation="insights:3826">Matahari Dept Placement: Well Known Indo Consumer Name, Now at Discount</a>.The deal scores well on our framework, given its track record and stellar share price performance post listing. There have been multiple deals in the stock since listing, as CVC has progressively…

Lippo group plans to selldown 14.6% of its stake, amounting to 3% of the company for US$125m. This will be the second selldown this year for the stock after the earlier selldown by CVC in May-16. We had covered that deal as well, Matahari Dept Placement: Well Known Indo Consumer Name, Now at Discount.The deal scores well on our framework, given its track record and stellar share price performance post listing. There have been multiple deals in the stock since listing, as CVC has progressively…

Matahari Department: A Few Doubts but Trackrecord and past Deals Speak for Themselves

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Thematic (Sector/Industry)

<ul><li>Of the actively traded stocks listed on SGX, Singapore Medical Group saw the biggest jump in volume in August compared to its three-month average volume. The stock also gained 91.4% in August and earlier in the month reported a turnaround net profit of S$0.8 million for 1H2016 compared to a net loss of S$0.1 million in 1H2015.</li></ul><ul><li>
Consumer Staples plays, Sheng Siong Group and Dairy Farm International Holdings were also amongst the 10 actively traded stocks that saw the biggest jump in August volume.…</li></ul>

Of the actively traded stocks listed on SGX, Singapore Medical Group saw the biggest jump in volume in August compared to its three-month average volume. The stock also gained 91.4% in August and earlier in the month reported a turnaround net profit of S$0.8 million for 1H2016 compared to a net loss of S$0.1 million in 1H2015.
Consumer Staples plays, Sheng Siong Group and Dairy Farm International Holdings were also amongst the 10 actively traded stocks that saw the biggest jump in August volume.…

10 Biggest Volume Jumpers in August Spanned Seven Sectors

Co-founder & Managing Director, Marketnomix 

Rajan Govil

Co-founder & Managing Director

Marketnomix 

Macroeconomics

The Indonesian economy grew 5.18% y-o-y in 2Q2016 compared to an increase of 4.91% in the first quarter of 2016. This was the fastest pace of growth recorded since 1Q2014, and was largely driven by household expenditure and investment. Household expenditure, which grew 5.04% y-o-y compared to 4.94% y-o-y in 1Q, was partially supported by the Ramadan and Eid-ul-Fitr festivities in June. Gross fixed capital formation came in at 5.06% y-o-y in 2Q compared to an increase of 5.57% y-o-y in the…

The Indonesian economy grew 5.18% y-o-y in 2Q2016 compared to an increase of 4.91% in the first quarter of 2016. This was the fastest pace of growth recorded since 1Q2014, and was largely driven by household expenditure and investment. Household expenditure, which grew 5.04% y-o-y compared to 4.94% y-o-y in 1Q, was partially supported by the Ramadan and Eid-ul-Fitr festivities in June. Gross fixed capital formation came in at 5.06% y-o-y in 2Q compared to an increase of 5.57% y-o-y in the…

Indonesia: Strong Household Expenditure Drives GDP in 2Q2016

While the ongoing slowdown in China and concerns about the global economy are expected to continue to weigh on Indonesia’s exports, gradually improving domestic demand is likely to see non-oil imports growth move back into positive territory. The four rate cuts that Bank Indonesia has undertaken since the start of 2016 is expected to provide a lift to domestic demand in the economy.On a 3 month moving average (3mma) basis, exports declined 8.8% y-o-y in June compared to a decline of 11.9% in…

While the ongoing slowdown in China and concerns about the global economy are expected to continue to weigh on Indonesia’s exports, gradually improving domestic demand is likely to see non-oil imports growth move back into positive territory. The four rate cuts that Bank Indonesia has undertaken since the start of 2016 is expected to provide a lift to domestic demand in the economy.On a 3 month moving average (3mma) basis, exports declined 8.8% y-o-y in June compared to a decline of 11.9% in…

Indonesia: Non-Oil Imports Growth Likely to Turn Positive on Gradually Improving Domestic Demand

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

<a href="https://www.smartkarma.com/entities/5230" target="_blank" data-smartkarma-citation="entities:5230">PT Matahari Department Store</a>'s shareholders are placing shares worth US$159m. <ul>
<li>The deal scores well in our Smartkarma Placement Framework. </li>
<li>The company's past placement performed well.</li>
<li>The company has strong fundamentals.</li>
<li>The only concern is its large deal size equivalent to 29 days of average trading volume.</li>
</ul><h2>Deal Overview</h2><ul>
<li>Company Name: Matahari Department Store Tbk PT</li>
<li>Ticker: LPPF IJ</li>
<li>Secondary offering</li>
<li>Settlement date:24 May, 2016</li>
<li>Indicative deal price: IDR 17,000 to 17,800.</li>
<li>Last Traded Price: IDR18,800.</li>
<li>…</li>
</ul>

 PT Matahari Department Store's shareholders are placing shares worth US$159m. 
The deal scores well in our Smartkarma Placement Framework. 
The company's past placement performed well.
The company has strong fundamentals.
The only concern is its large deal size equivalent to 29 days of average trading volume.
Deal Overview
Company Name: Matahari Department Store Tbk PT
Ticker: LPPF IJ
Secondary offering
Settlement date:24 May, 2016
Indicative deal price: IDR 17,000 to 17,800.
Last Traded Price: IDR18,800.
…


Matahari Dept Placement: Well Known Indo Consumer Name, Now at Discount

Indonesia

PT Matahari Department Store Tbk engages in the retail business for several types of products such as clothes, accessories, bags, shoes, cosmetics, household appliances, and management consulting services.

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Matahari Department Store (LPPF IJ)

Matahari Department: A Few Doubts but Trackrecord and past Deals Speak for Themselves

Lippo group plans to selldown 14.6% of its stake, amounting to 3% of the company for US$125m. This will be the second selldown this year for the...

Sumeet Singh

10 Biggest Volume Jumpers in August Spanned Seven Sectors

Of the actively traded stocks listed on SGX, Singapore Medical Group saw the biggest jump in volume in August compared to its three-month average...

Singapore Exchange Ltd (SGX)

Indonesia: Strong Household Expenditure Drives GDP in 2Q2016

The Indonesian economy grew 5.18% y-o-y in 2Q2016 compared to an increase of 4.91% in the first quarter of 2016. This was the fastest pace of...

Rajan Govil

Indonesia: Non-Oil Imports Growth Likely to Turn Positive on Gradually Improving Domestic Demand

While the ongoing slowdown in China and concerns about the global economy are expected to continue to weigh on Indonesia’s exports, gradually...

Rajan Govil

Matahari Dept Placement: Well Known Indo Consumer Name, Now at Discount

PT Matahari Department Store's shareholders are placing shares worth US$159m. The deal scores well in our Smartkarma Placement Framework. The...

Ke Yan, CFA, FRM

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