Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

Bumi Resources Minerals Tbk / Event-Driven

<ul>
<li>The review period for the LQ45 Index ended on 30 December. The changes should be announced in the last week of January, becoming effective after the close on 31 January.</li>
<li>Potential adds are <a href="https://www.smartkarma.com/entities/bumi-resources-minerals-tbk" target="_blank" data-smartkarma-citation="entities:9136:1" rel="noopener">Bumi Resources Minerals Tbk (BRMS IJ)</a>, <a href="https://www.smartkarma.com/entities/surya-esa-perkasa-tbk-pt" target="_blank" data-smartkarma-citation="entities:14326:1" rel="noopener">Surya Esa Perkasa (ESSA IJ)</a>,<a href="https://www.smartkarma.com/entities/saratoga-investama-sedaya-tbk-pt" target="_blank" data-smartkarma-citation="entities:13714:1" rel="noopener"> Saratoga Investama Sedaya (SRTG IJ)</a>, <a href="https://www.smartkarma.com/entities/adaro-minerals" target="_blank" data-smartkarma-citation="entities:35927:1" rel="noopener">Adaro Minerals (ADMR IJ)</a> and <a href="https://www.smartkarma.com/entities/pt-dayamitra-telekomunikasi" target="_blank" data-smartkarma-citation="entities:34741:1" rel="noopener">Mitratel (MTEL IJ)</a>. </li>
<li>Potential deletions are <a href="https://www.smartkarma.com/entities/wijaya-karya-persero-tbk-pt" target="_blank" data-smartkarma-citation="entities:1877:1" rel="noopener">PT Wijaya Karya (Persero) Tbk (WIKA IJ)</a>, <a href="https://www.smartkarma.com/entities/erajaya-swasembada-tbk-pt" target="_blank" data-smartkarma-citation="entities:18869:1" rel="noopener">Erajaya Swasembada (ERAA IJ)</a>, <a href="https://www.smartkarma.com/entities/media-nusantara-citra-tbk-pt" target="_blank" data-smartkarma-citation="entities:6881:1" rel="noopener">Media Nusantara Citra (MNCN IJ)</a>, <a href="https://www.smartkarma.com/entities/chandra-asri-petrochemical" target="_blank" data-smartkarma-citation="entities:2556:1" rel="noopener">Chandra Asri Petrochemical (TPIA IJ)</a> and <a href="https://www.smartkarma.com/entities/hm-sampoerna-tbk-pt" target="_blank" data-smartkarma-citation="entities:617:1" rel="noopener">HM Sampoerna (HMSP IJ)</a>. </li>
</ul>


The review period for the LQ45 Index ended on 30 December. The changes should be announced in the last week of January, becoming effective after the close on 31 January.
Potential adds are Bumi Resources Minerals Tbk (BRMS IJ), Surya Esa Perkasa (ESSA IJ), Saratoga Investama Sedaya (SRTG IJ), Adaro Minerals (ADMR IJ) and Mitratel (MTEL IJ). 
Potential deletions are PT Wijaya Karya (Persero) Tbk (WIKA IJ), Erajaya Swasembada (ERAA IJ), Media Nusantara Citra (MNCN IJ), Chandra Asri Petrochemical (TPIA IJ) and HM Sampoerna (HMSP IJ). 


LQ45 Index Rebalance Preview (Jan): Few Weeks to Implementation

Sumber Alfaria Trijaya Tbk Pt / Event-Driven

<ul>
<li>At the January review, there are 2 changes to the IDX30 Index, 5 changes to the LQ45 Index, and 9 changes to the IDX30 Index.</li>
<li>Largest buying impact will be on <a href="https://www.smartkarma.com/entities/sumber-alfaria-trijaya-tbk-pt" target="_blank" data-smartkarma-citation="entities:15659:1" rel="noopener">Sumber Alfaria Trijaya Tbk Pt</a>, <a href="https://www.smartkarma.com/entities/elang-mahkota-teknologi-tbk" target="_blank" data-smartkarma-citation="entities:7752:1" rel="noopener">Emtek (EMTK IJ)</a>, <a href="https://www.smartkarma.com/entities/waskita-karya-persero-tbk-pt" target="_blank" data-smartkarma-citation="entities:15739:1" rel="noopener">Waskita Karya (Persero) (WSKT IJ)</a>, <a href="https://www.smartkarma.com/entities/bfi-finance-indonesia-tbk-pt" target="_blank" data-smartkarma-citation="entities:8447:1" rel="noopener">BFI Finance Indonesia (BFIN IJ)</a> and <a href="https://www.smartkarma.com/entities/xl-axiata-tbk-pt" target="_blank" data-smartkarma-citation="entities:15028:1" rel="noopener">XL Axiata (EXCL IJ)</a>. </li>
<li>Largest selling impact will be on <a href="https://www.smartkarma.com/entities/ace-hardware-indonesia" target="_blank" data-smartkarma-citation="entities:12808:1" rel="noopener">Ace Hardware Indonesia (ACES IJ)</a>, <a href="https://www.smartkarma.com/entities/jasa-marga-persero-tbk-pt" target="_blank" data-smartkarma-citation="entities:12747:1" rel="noopener">Jasa Marga (JSMR IJ)</a>, <a href="https://www.smartkarma.com/entities/pakuwon-jati-tbk-pt" target="_blank" data-smartkarma-citation="entities:8550:1" rel="noopener">Pakuwon Jati (PWON IJ)</a> , <a href="https://www.smartkarma.com/entities/bumi-serpong-damai-pt" target="_blank" data-smartkarma-citation="entities:15498:1" rel="noopener">Bumi Serpong Damai (BSDE IJ)</a> and <a href="https://www.smartkarma.com/entities/hm-sampoerna-tbk-pt" target="_blank" data-smartkarma-citation="entities:617:1" rel="noopener">HM Sampoerna (HMSP IJ)</a>.</li>
</ul>


At the January review, there are 2 changes to the IDX30 Index, 5 changes to the LQ45 Index, and 9 changes to the IDX30 Index.
Largest buying impact will be on Sumber Alfaria Trijaya Tbk Pt, Emtek (EMTK IJ), Waskita Karya (Persero) (WSKT IJ), BFI Finance Indonesia (BFIN IJ) and XL Axiata (EXCL IJ). 
Largest selling impact will be on Ace Hardware Indonesia (ACES IJ), Jasa Marga (JSMR IJ), Pakuwon Jati (PWON IJ) , Bumi Serpong Damai (BSDE IJ) and HM Sampoerna (HMSP IJ).


IDX30/LQ45 Index Rebalance: BIG Impact Changes in Limited Time

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>The number &amp; combined market cap of SGX listed stocks focused on thermal coal mining in Indonesia has grown fourfold over the past three years. Following Geo Energy’s listing in 2012, three RTOs have seen Resources Prima Group, BlackGold Natural Resources and Golden Energy and Resources list on SGX.</li><li>Two of these four stocks - Geo Energy Resources (<a href="http://www.sgx.com/wps/portal/sgxweb/home/company_disclosure/stockfacts?page=1&amp;code=RE4&amp;lang=en-us" target="_blank">RE4</a>) &amp; BlackGold Natural Resources (<a href="http://www.sgx.com/wps/portal/sgxweb/home/company_disclosure/stockfacts?page=1&amp;code=41H&amp;lang=en-us" target="_blank">41H</a>) - have generated triple digit returns over the past 12 months, taking the average 12 month return for the four thermal coal stocks to 58%.</li></ul><ul><li>Geo Energy reported quarterly net profit of US$14.7 million in 4Q2016, the highest ever quarterly profit recorded since it listed on SGX in 2012. Geo Energy achieved 5.5 million metric tonnes of coal sales in FY2016, which translated to sales revenue of US$182 million.</li><li>BlackGold Natural Resources reported a net loss in FY2016, which was 88% less than its FY2015 loss.  Revenues were generated from the Group's PT SB concession with production commencing in 1Q16 and sold to a Riau state-owned enterprise. Yesterday the stock requested a suspension pending the release of an announcement. </li></ul>

The number &amp; combined market cap of SGX listed stocks focused on thermal coal mining in Indonesia has grown fourfold over the past three years. Following Geo Energy’s listing in 2012, three RTOs have seen Resources Prima Group, BlackGold Natural Resources and Golden Energy and Resources list on SGX.Two of these four stocks - Geo Energy Resources (RE4) &amp; BlackGold Natural Resources (41H) - have generated triple digit returns over the past 12 months, taking the average 12 month return for the four thermal coal stocks to 58%.Geo Energy reported quarterly net profit of US$14.7 million in 4Q2016, the highest ever quarterly profit recorded since it listed on SGX in 2012. Geo Energy achieved 5.5 million metric tonnes of coal sales in FY2016, which translated to sales revenue of US$182 million.BlackGold Natural Resources reported a net loss in FY2016, which was 88% less than its FY2015 loss.  Revenues were generated from the Group's PT SB concession with production commencing in 1Q16 and sold to a Riau state-owned enterprise. Yesterday the stock requested a suspension pending the release of an announcement. 

Significant Expansion of Singapore's Coal Mining Stocks

Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

Chief Economist & Political Strategist

REAL-Economics.com

Macroeconomics

-The oil majors' favourite refining hub in ASEAN is Singapore, while the crude-oil/gas comes mainly from Indonesia, Malaysia and Brunei. Infusion of Saudi capital will help to partially redress that, although Saudi Arabia is only the 7th largest oil-refining country, and ARAMCO has moderate amounts of technological expertise (mainly from its ownership of S-Oil in Korea). -Malaysia and (especially) Indonesia have been wary of "Arabised" or Wahhabi Islam, and see Saudi offers to widen Arabic…

-The oil majors' favourite refining hub in ASEAN is Singapore, while the crude-oil/gas comes mainly from Indonesia, Malaysia and Brunei. Infusion of Saudi capital will help to partially redress that, although Saudi Arabia is only the 7th largest oil-refining country, and ARAMCO has moderate amounts of technological expertise (mainly from its ownership of S-Oil in Korea). -Malaysia and (especially) Indonesia have been wary of "Arabised" or Wahhabi Islam, and see Saudi offers to widen Arabic…

King Salman Bearing Gifts: Implications for ASEAN, Oil-Refining and Religion

<ul><li>Singapore lists four Coal mining plays - Golden Energy and Resources, Geo Energy Resources, Resources Prima Group and BlackGold Natural Resources. All four stocks mine thermal coal - used to generate electricity, with mining conducted in Indonesia, and all companies report in US Dollars.</li><li>The YTD returns of the four Coal miners have been mixed, with average returns of 1% in the 2016 year thus far. Geo Energy Resources has been the best performing of the four stocks with a 57% return.</li><li>Following a 3Q16 turnaround profit of US$11.6 million, the RTO of Golden Energy and Resources debuted this week on SGX Mainboard. As part of the RTO, the company placed out S$123 million of shares to institutions. The share price closed yesterday at a 28% discount to the S$0.67 share placement price. The Group’s coal business held by the PT Golden Energy Mines Tbk Group was valued at US$3.01 billion as of 31 August 2016.</li><li>The SGX Listing Rules for Mining plays recognise international best practices in reporting standards  - specifically JORC and NI43-101. Typically these reports will include the technical basis on which statements of reserves, resources or exploration results are made, and are available on all four Coal plays. </li></ul>

Singapore lists four Coal mining plays - Golden Energy and Resources, Geo Energy Resources, Resources Prima Group and BlackGold Natural Resources. All four stocks mine thermal coal - used to generate electricity, with mining conducted in Indonesia, and all companies report in US Dollars.The YTD returns of the four Coal miners have been mixed, with average returns of 1% in the 2016 year thus far. Geo Energy Resources has been the best performing of the four stocks with a 57% return.Following a 3Q16 turnaround profit of US$11.6 million, the RTO of Golden Energy and Resources debuted this week on SGX Mainboard. As part of the RTO, the company placed out S$123 million of shares to institutions. The share price closed yesterday at a 28% discount to the S$0.67 share placement price. The Group’s coal business held by the PT Golden Energy Mines Tbk Group was valued at US$3.01 billion as of 31 August 2016.The SGX Listing Rules for Mining plays recognise international best practices in reporting standards  - specifically JORC and NI43-101. Typically these reports will include the technical basis on which statements of reserves, resources or exploration results are made, and are available on all four Coal plays. 

Indonesia

PT ABM Investama Tbk invests in energy resources, energy services and energy infrastructure.  Through subsidiaries, the Company mines coal; offers mining services; offers logistics and warehousing services; generates electricity; and manufactures equipment for the mining, oil and natural gas, electricity generation, and transportation industries.

PT Baramulti Suksessarana Tbk is a coal mining company in Kalimatan.

PT Indika Energy Tbk is an energy company. The Company provides energy services, energy resources and infrastructure, primarily in the areas of coal production, engineering, procurement and construction services and power generation services.

PT Energi Mega Persada Tbk explores, develops and produces crude oil and natural gas.

PT Rukun Raharja Tbk operates transmission lines and distributes natural gas to industry.

PT Delta Dunia Makmur Tbk is a holding company, whose subsidiary provides open-cut coal mining services to coal producers in Indonesia.

Mitrabara Adiperdana Tbk PT is a coal mining company based in Indonesia.

PT Benakat Integra Tbk is an integrated energy and resources company. The Company invests in mining assets in Indonesia including oil, gas, and coal properties.

PT Samindo Resources Tbk is a coal mining company based in Indonesia.

Nordic American Tankers Limited is a shipping company that owns and charters Suezmax tankers for oil transportation.  The Company's ships are all active in the spot freight market.

AAG Energy Holdings Limited is  an energy exploration and development company. The Company engages in coalbed methane exploration and development.

Henan Dayou Energy Co., Ltd. engages in the exploitation and distribution of coal in China. The company, through its subsidiaries, is also involved in the production and sale of mining equipment and accessories, as well as the provision of consulting services of coal mine technologies.

Teekay Corporation provides international crude oil and petroleum product transportation services to major oil companies, major oil traders, and government agencies.  The Company provides its services through a fleet of medium size oil tankers worldwide.

Deep Yellow Limited is an advanced stage uranium exploration company progressing its core Namibian projects.

SAN-AI OIL CO., LTD. primarily wholesales petroleum and LP gas nationwide.  The Company also supplies fuels for aircrafts at Haneda Airport.  San-Ai Oil has business divisions including industry energy, gas, chemical and research, and business development.

Karoon Energy Ltd operates as an exploration company. The Company explores and acquires oil and gas exploration assets. Karoon Energy serves customers worldwide.

Ardmore Shipping Corp is engaged in the ownership and operation of product and chemical tankers in worldwide trade.  The Company provides shipping services to customers through voyage charters, commercial pools and time charters.

REX American Resources Corporation is invested in ethanol production entities. The Company produces ethanol, and dried and modified distillers grains, as well as leases real estate properties.

Esso Thailand PCL is a fully integrated oil business, including oil refinery and production. The Company provides liquefied petroleum gas (LPG), gasoline, aviation fuel, diesel, marine fuel, lubricants, aromatic products and other related products such as purified terephthalic acid (PTA), solvents, plasticizers, and benzene concentrate stream.

PT Surya Esa Perkasa Tbk produces liquefied petroleum gas.

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Surya Esa Perkasa (ESSA IJ)

LQ45 Index Rebalance Preview (Jan): Few Weeks to Implementation

We filter stocks that have a possibility of becoming adds/deletes for the LQ45 Index in Jan. The impact on the deletes will be higher, plus there...

Brian Freitas

IDX30/LQ45 Index Rebalance: BIG Impact Changes in Limited Time

There are 2 changes to the IDX30, 5 to the LQ45, and 9 to the IDX80. There are a few large impact/flow names on the IDX30/LQ45 indices. The adds...

Brian Freitas

Significant Expansion of Singapore's Coal Mining Stocks

The number & combined market cap of SGX listed stocks focused on thermal coal mining in Indonesia has grown fourfold over the past three...

Singapore Exchange Ltd (SGX)

King Salman Bearing Gifts: Implications for ASEAN, Oil-Refining and Religion

-The oil majors' favourite refining hub in ASEAN is Singapore, while the crude-oil/gas comes mainly from Indonesia, Malaysia and Brunei. Infusion...

Prasenjit K. Basu

Growth of Singapore's Coal Mining Stocks

Singapore lists four Coal mining plays - Golden Energy and Resources, Geo Energy Resources, Resources Prima Group and BlackGold Natural Resources....

Singapore Exchange Ltd (SGX)

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