Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:<ol><li><a href='/entities/lippo-karawaci-tbk-pt' target='_blank' rel='noopener'>Lippo Karawaci</a></li><li><a href='/entities/china-sce-group-holdings-ltd' target='_blank' rel='noopener'>China SCE</a></li><li><a href='/entities/china-jinmao-holdings-group' target='_blank' rel='noopener'>China Jinmao Holdings</a></li><li><a href='/entities/guangzhou-r-f-properties-h' target='_blank' rel='noopener'>Guangzhou R&F Properties</a></li><li><a href='/entities/sunac-china-holdings-ltd' target='_blank' rel='noopener'>Sunac China Holdings</a></li></ol>and more...

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:Lippo KarawaciChina SCEChina Jinmao HoldingsGuangzhou R&F PropertiesSunac China Holdingsand more...

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.<ul><li><a href='#lucror-entity-2036'>Central China Securities</a></li><li><a href='#lucror-entity-8954'>Greentown China</a></li><li><a href='#lucror-entity-810'>Melco Resorts & Entertainment</a></li><li><a href='#lucror-entity-4153'>Shui On Land</a></li><li><a href='#lucror-entity-13363'>Sunny Optical</a></li><li><a href='#lucror-entity-12763'>Tata Motors ADR</a></li><li><a href='#lucror-entity-473'>Wynn Macau Ltd</a></li></ul>

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.Central China SecuritiesGreentown ChinaMelco Resorts & EntertainmentShui On LandSunny OpticalTata Motors ADRWynn Macau Ltd

Morning Views Asia: Central China Securities, Greentown China, Melco Resorts & Entertainment

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:<ol><li><a href='/entities/fosun-international-ltd' target='_blank' rel='noopener'>Fosun International</a></li><li><a href='/entities/lippo-karawaci-tbk-pt' target='_blank' rel='noopener'>Lippo Karawaci</a></li><li><a href='/entities/agile-property-holdings-ltd' target='_blank' rel='noopener'>Agile Property Holdings</a></li><li><a href='/entities/china-jinmao-holdings-group' target='_blank' rel='noopener'>China Jinmao Holdings</a></li><li><a href='/entities/lifestyle-international-holdings-ltd' target='_blank' rel='noopener'>Lifestyle International Holdings</a></li></ol>and more...

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:Fosun InternationalLippo KarawaciAgile Property HoldingsChina Jinmao HoldingsLifestyle International Holdingsand more...

The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market.

  The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market. 

Asia HY Monthly - December 2022 - Lucror Analytics

External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>The domestic CV wholesales registered positive sales momentum as it posted growth of 21%/18% YoY/MoM in Dec’22, driven by the pick-up in infrastructure spending and replacement demand by fleet operators.</li><li>Tractors demand continues to surprise positively with 28% YoY growth, primarily led by positive agri-sentiments.</li><li>The domestic PV wholesale volumes grew 8% YoY but declined 15% MoM on maintenance shutdown by most OEMs, non availability of semi-conductors for some models, and lower demand for entry-level segment vehicles.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The domestic CV wholesales registered positive sales momentum as it posted growth of 21%/18% YoY/MoM in Dec’22, driven by the pick-up in infrastructure spending and replacement demand by fleet operators.Tractors demand continues to surprise positively with 28% YoY growth, primarily led by positive agri-sentiments.The domestic PV wholesale volumes grew 8% YoY but declined 15% MoM on maintenance shutdown by most OEMs, non availability of semi-conductors for some models, and lower demand for entry-level segment vehicles.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Automotive Industry - Robust CVs & Tractor Demand

India

Tata Motors Limited manufactures cars and commercial automotive vehicles. The Company designs, manufactures, and sells heavy, medium, and small commercial vehicles including trucks, tankers, vans, buses, ambulances and minibuses. Tata also manufactures small cars and sports utility vehicles.

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Tata Motors Ltd (TTMT IN)

Weekly Wrap - 13 Jan 2023

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and...

Lucror Analytics

Morning Views Asia: Central China Securities, Greentown China, Melco Resorts & Entertainment

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

Weekly Wrap - 06 Jan 2023

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and...

Lucror Analytics

Asia HY Monthly - December 2022 - Lucror Analytics

The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top...

Lucror Analytics

Automotive Industry - Robust CVs & Tractor Demand

The domestic CV wholesales registered positive sales momentum as it posted growth of 21%/18% YoY/MoM in Dec’22, driven by the pick-up in...

Axis Direct

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