Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

Riedel Research

Riedel provides equity research and analysis to leading financial organizations. By becoming members of a region (Asia, Latin America, Emerging Europe or Global), organizations have access to an integrated set of services including:

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Riedel provides research coverage of companies across the full range of market capitalization. Experienced research professionals in each market develop company reports and analysis as well as earnings models and projections. Ratings are Buy, Hold and Sell with a focus on compelling investment ideas - both long and short. Downloadable, dynamic earnings models are built to facilitate sensitivity analysis.

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Thematic (Sector/Industry)

<ul>
<li>Obama continues the 'pivot to Asia' by attending the ASEAN meeting in Laos.</li>
<li>ASEAN is a critical component of SE Asian stability, partnership with the US and should be a united front in protesting Chinese intrusions into the South China Sea.</li>
<li>A high-profile spat with Philippine president Duterte was an unfortunate distraction and an unhelpful development for the Philippines which benefits from strong U.S. support.</li>
<li>Thailand and Malaysia look like the best opportunities in ASEAN in the medium-term.</li>
<li>BUY…</li>
</ul>


Obama continues the 'pivot to Asia' by attending the ASEAN meeting in Laos.
ASEAN is a critical component of SE Asian stability, partnership with the US and should be a united front in protesting Chinese intrusions into the South China Sea.
A high-profile spat with Philippine president Duterte was an unfortunate distraction and an unhelpful development for the Philippines which benefits from strong U.S. support.
Thailand and Malaysia look like the best opportunities in ASEAN in the medium-term.
BUY…


Takeaways from ASEAN - Investment Opportunities

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.

<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

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 Bottom-Up

<a href="https://www.smartkarma.com/entities/11" target="_blank" data-smartkarma-citation="entities:11:1">Sembcorp Marine Ltd (SMM SP)</a> reported its 2Q16 results hours ago (link to its <a href="http://infopub.sgx.com/FileOpen/SCM2Q2016%20Results%20Briefing.ashx?App=Announcement&amp;FileID=414471" target="_blank">presentation</a>, <a href="http://infopub.sgx.com/FileOpen/SCM2Q2016%20FinancialStatements%2028July2016.ashx?App=Announcement&amp;FileID=414469" target="_blank">financial statement</a>, <a href="http://infopub.sgx.com/FileOpen/SCM2Q2016%20CEO%20Address.ashx?App=Announcement&amp;FileID=414472" target="_blank">CEO's speech</a>). First Revenue was 27% lower compared to a year ago. First half EBITDA was 44% lower YoY. I have been warning the risk of the street under-estimating deceleration of rig builders' revenue (because of failure to replenish their order book and order delays) and profit (because of negative operating leveraging and order cancellation). Subscribers can read my previous…

Sembcorp Marine Ltd (SMM SP) reported its 2Q16 results hours ago (link to its presentation, financial statement, CEO's speech). First Revenue was 27% lower compared to a year ago. First half EBITDA was 44% lower YoY. I have been warning the risk of the street under-estimating deceleration of rig builders' revenue (because of failure to replenish their order book and order delays) and profit (because of negative operating leveraging and order cancellation). Subscribers can read my previous…

Sembcorp Marine 2Q16: Floater and Platform Shined, but What's Next?

<a href="https://www.smartkarma.com/entities/12" target="_blank" data-smartkarma-citation="entities:12:1">Keppel Corp Ltd (KEP SP)</a> reported its <a href="http://infopub.sgx.com/FileOpen/SGXNET_KCL%202Q%20and%201H2016%20Results.ashx?App=Announcement&amp;FileID=413576" target="_blank">second quarter results</a> this evening. Headline quarterly revenue and net profit were down by 37% and 48% YoY respectively. I would not dig too much to explain the reasons behind each segment's result, as Keppel's management has already done an excellent job in their <a href="http://infopub.sgx.com/FileOpen/SGXNET_KCL%202Q%20and%201H2016%20Results.ashx?App=Announcement&amp;FileID=413576" target="_blank">results announcement</a>. A quick snapshot of segment revenue is attached below.<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/010/606/original/Screen%20Shot%202016-07-21%20at%209.37.37%20PM.png?1469108281" class="editor-image img-responsive" data-smartkarma-image-id="10606"></figure><div class="content-remarks">Source: Company Presentation Slide</div><h2>Plausible results in a tough environment</h2>What I would like to highlight is that despite…

Keppel Corp Ltd (KEP SP) reported its second quarter results this evening. Headline quarterly revenue and net profit were down by 37% and 48% YoY respectively. I would not dig too much to explain the reasons behind each segment's result, as Keppel's management has already done an excellent job in their results announcement. A quick snapshot of segment revenue is attached below.Source: Company Presentation SlidePlausible results in a tough environmentWhat I would like to highlight is that despite…

Keppel Corp 2Q16 Results: Plausible but Downside Remains

Co-founder & Managing Director, Marketnomix 

Rajan Govil

Co-founder & Managing Director

Marketnomix 

Macroeconomics

Singapore’s GDP grew by 1.8% y-o-y in 1Q2016 similar to the growth experienced in the previous two quarters. Private consumption expenditure contributed about one-percentage points while government expenditure contributed 0.7 percentage points to the growth. Net exports detracted 3.8% from GDP growth the in quarter ended March 2016.While services sector remains a major contributor to overall GDP, 1Q2016 saw its contribution decelerate from 2.8% in 1Q2015 to 0.9% in 1Q2016 while that of goods…

Singapore’s GDP grew by 1.8% y-o-y in 1Q2016 similar to the growth experienced in the previous two quarters. Private consumption expenditure contributed about one-percentage points while government expenditure contributed 0.7 percentage points to the growth. Net exports detracted 3.8% from GDP growth the in quarter ended March 2016.While services sector remains a major contributor to overall GDP, 1Q2016 saw its contribution decelerate from 2.8% in 1Q2015 to 0.9% in 1Q2016 while that of goods…

Singapore: GDP Grows by 1.8% in 1Q2016 Driven by Consumption Expenditure

Singapore

Seatrium Ltd offers engineering solutions for the offshore, marine, and energy industries. The Company provides rigs and floaters, repairs and upgrades, offshore platforms, and specialized shipbuilding. Seatrium serves customers worldwide.

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Seatrium (STM SP)

Takeaways from ASEAN - Investment Opportunities

Obama continues the 'pivot to Asia' by attending the ASEAN meeting in Laos. ASEAN is a critical component of SE Asian stability, partnership with...

David Riedel

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)

Sembcorp Marine 2Q16: Floater and Platform Shined, but What's Next?

Sembcorp Marine Ltd (SMM SP) reported its 2Q16 results hours ago (link to its presentation, financial statement, CEO's speech). First Revenue was...

Ke Yan, CFA, FRM

Keppel Corp 2Q16 Results: Plausible but Downside Remains

Keppel Corp Ltd (KEP SP) reported its second quarter results this evening. Headline quarterly revenue and net profit were down by 37% and 48% YoY...

Ke Yan, CFA, FRM

Singapore: GDP Grows by 1.8% in 1Q2016 Driven by Consumption Expenditure

Singapore’s GDP grew by 1.8% y-o-y in 1Q2016 similar to the growth experienced in the previous two quarters. Private consumption expenditure...

Rajan Govil

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