Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Event-Driven

<ul>
<li>On 14 March, NPS announced that it has decided to vote against the re-appointment of the CEO Cho Won-tae as the executive director of Korean Air Lines.</li>
<li>It was also announced on 14 March that GS Retail purchased a 1% stake in Hanjin Kal. In addition, Korean Air Lines also purchased a 1.2% stake in GS Retail.</li>
<li>One of the growing probabilities of the changing shareholding structures is that KDB may be interested in selling its 10.6% stake in Hanjin Kal.</li>
</ul>


On 14 March, NPS announced that it has decided to vote against the re-appointment of the CEO Cho Won-tae as the executive director of Korean Air Lines.
It was also announced on 14 March that GS Retail purchased a 1% stake in Hanjin Kal. In addition, Korean Air Lines also purchased a 1.2% stake in GS Retail.
One of the growing probabilities of the changing shareholding structures is that KDB may be interested in selling its 10.6% stake in Hanjin Kal.


Another Brewing Fight for the Controlling Shareholding of Hanjin Kal?

Energy Transition | AI | Shifting World Order, Mint Finance

Srinidhi Raghavendra

Energy Transition | AI | Shifting World Order

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Cross Asset Strategy

<ul>
<li>Markets raced to 52-week highs across US equity benchmarks with rally in tech stocks contributing to much of these gains. Nikkei raced to print another 34-year high.</li>
<li>Oil &amp; Copper ticked higher while other major commodities trended downwards last week. Beans and Corn marked their lowest price prints over the last 52-weeks.</li>
<li>Life is too short to be spent writing for an echo chamber and rewriting to meet the often arbitrary demands of a reviewer, writes Dr Damodaran.</li>
</ul>


Markets raced to 52-week highs across US equity benchmarks with rally in tech stocks contributing to much of these gains. Nikkei raced to print another 34-year high.
Oil &amp; Copper ticked higher while other major commodities trended downwards last week. Beans and Corn marked their lowest price prints over the last 52-weeks.
Life is too short to be spent writing for an echo chamber and rewriting to meet the often arbitrary demands of a reviewer, writes Dr Damodaran.


[TW2] US & JPN Equities on Steroids While China Remains Shaky on Deflation Fears (W/E 19th Jan 24)

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

United Airlines Holdings / Equity Bottom-Up

<ul><li>United Airlines faced a challenging operating environment during the last quarter but managed to deliver an all-around beat.</li><li>Although the company had high load factors, it quickly accommodated thousands more passengers when other airlines' flights were cancelled.</li><li>Domestic capacity decreased by 8%, while international capacity decreased by 12%.</li></ul>

United Airlines faced a challenging operating environment during the last quarter but managed to deliver an all-around beat.Although the company had high load factors, it quickly accommodated thousands more passengers when other airlines' flights were cancelled.Domestic capacity decreased by 8%, while international capacity decreased by 12%.

<ul><li>United Airlines had a disappointing quarter despite seeing an unprecedented return of customers.</li><li>In this quarter, Cargo remained strong and premium leisure has been a bright spot as the domestic revenue growth of premium cabins outpaces the economy cabin.</li><li>We provide the United Airlines stock with a ‘Hold’ rating with a revised target price.</li></ul>

United Airlines had a disappointing quarter despite seeing an unprecedented return of customers.In this quarter, Cargo remained strong and premium leisure has been a bright spot as the domestic revenue growth of premium cabins outpaces the economy cabin.We provide the United Airlines stock with a ‘Hold’ rating with a revised target price.

United Airlines: Sustainable Aviation Fuel Update & Other Drivers

Credit

<ul><li>United Airlines limped through its process of recovery throughout 2021 on account of various pandemic-induced headwinds and the year 2022 brings a while new set of challenges for the company with respect to the recovery of international travel.</li><li>As the airline transitions from pandemic to endemic, demand is high from vacationers but business travel is far away from full recovery.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

United Airlines limped through its process of recovery throughout 2021 on account of various pandemic-induced headwinds and the year 2022 brings a while new set of challenges for the company with respect to the recovery of international travel.As the airline transitions from pandemic to endemic, demand is high from vacationers but business travel is far away from full recovery.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

United Airlines: Detailed Credit Analysis & Financial Strength Evaluation Report

United States

United Airlines Holdings Inc is an airline holding company.  The Company owns and operates airlines that transports persons, property and mail throughout the United States and abroad.

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United Airlines Holdings (UAL US)

Another Brewing Fight for the Controlling Shareholding of Hanjin Kal?

On 14 March, NPS announced that it has decided to vote against the re-appointment of the CEO Cho Won-tae as the executive director of Korean Air....

Douglas Kim

[TW2] US & JPN Equities on Steroids While China Remains Shaky on Deflation Fears (W/E 19th Jan 24)

Animal spirits were back in charge last week as market sentiments rose high. US and Japanese equity markets continue to set record highs. Are we...

Mint Finance

United Airlines: Major Drivers

United Airlines faced a challenging operating environment during the last quarter but managed to deliver an all-around beat. Although the company...

Baptista Research

United Airlines: Sustainable Aviation Fuel Update & Other Drivers

United Airlines had a disappointing quarter despite seeing an unprecedented return of customers. In this quarter, Cargo remained strong and...

Baptista Research

United Airlines: Detailed Credit Analysis & Financial Strength Evaluation Report

United Airlines limped through its process of recovery throughout 2021 on account of various pandemic-induced headwinds and the year 2022 brings a...

Baptista Research

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