Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Equity Bottom-Up

Narrow-moat DBS reported a good fourth-quarter result, which was in line with our expectations.Net profit was down 6% to SGD 1 billion against the third quarter, on higher provisioning and a one-off disposal gain in the previous period.Analysts: Michael Wu &amp; Iris Tan

Narrow-moat DBS reported a good fourth-quarter result, which was in line with our expectations.Net profit was down 6% to SGD 1 billion against the third quarter, on higher provisioning and a one-off disposal gain in the previous period.Analysts: Michael Wu &amp; Iris Tan

DBS' Q4 Result In Line; Net Interest Margin Improvement and Steady Bad Debt Are Highlights

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

It’s as if the bank had no idea about the credit cycle in the first few quarters of last year. HSBC was expensing about US$700 million a quarter very steadily – which is also curious. It feels to us the bank was caught out, trying to keep profit respectable, but the economics of its clients made it impossible to continue.

It’s as if the bank had no idea about the credit cycle in the first few quarters of last year. HSBC was expensing about US$700 million a quarter very steadily – which is also curious. It feels to us the bank was caught out, trying to keep profit respectable, but the economics of its clients made it impossible to continue.

The results for DBS could have been a lot worse. This is often a recurring theme with banks, as credit costs are limited in the hope of an ensuing recovery. But even so, the details of the data released by DBS are telling, even if not yet dire.  The bank’s Greater China region turned to loss of S$5 million in 4Q15. This was mostly due to less top line, rather than credit costs though. The limit in credit costs is already a red flag. It is unclear how the bank’s China lending requires only…

The results for DBS could have been a lot worse. This is often a recurring theme with banks, as credit costs are limited in the hope of an ensuing recovery. But even so, the details of the data released by DBS are telling, even if not yet dire.  The bank’s Greater China region turned to loss of S$5 million in 4Q15. This was mostly due to less top line, rather than credit costs though. The limit in credit costs is already a red flag. It is unclear how the bank’s China lending requires only…

Freelance Research Analyst

Tay Hock Meng

Thematic (Sector/Industry)

Despite the huge pipeline supply of land for executive condominium (EC) construction, developers appear to be unfazed by the lack of demand and are looking to replenish their land bank. The latest EC tender exercise is no different with ten bidders coming in with quite competitive tender prices, but a homegrown private developer, Hoi Hup Realty came in a sole bid that triumphed the rest.

Despite the huge pipeline supply of land for executive condominium (EC) construction, developers appear to be unfazed by the lack of demand and are looking to replenish their land bank. The latest EC tender exercise is no different with ten bidders coming in with quite competitive tender prices, but a homegrown private developer, Hoi Hup Realty came in a sole bid that triumphed the rest.

Hoi Hup Emerged as Top Bidder for Yio Chu Kang EC Land Site

Asia's Leading Online Property Group, PropertyGuru

Bjorn Sprengers

Asia's Leading Online Property Group

PropertyGuru

PropertyGuru Pte Ltd owns and operates a real estate property information website. The Company offers facilities to search for condominiums, apartments, Housing and Development Board (HDB) flats, serviced apartments, houses, and commercial properties to rent and buy in Singapore.

With the global economy poised for a slowdown, 2016 might not be the best year for commercial real estate. We take a closer look at the office and industrial segments, and give you the Guru View. <ul><li>Weak macroeconomic outlook has led to falling demand for both office and industrial space</li><li>Prices are on the decline while vacancy rates are likely to increase over the course of 2016</li><li>Investors need to have strong holding power, and should try not to rely to heavily on rents to cover their loan payments</li></ul>

With the global economy poised for a slowdown, 2016 might not be the best year for commercial real estate. We take a closer look at the office and industrial segments, and give you the Guru View. Weak macroeconomic outlook has led to falling demand for both office and industrial spacePrices are on the decline while vacancy rates are likely to increase over the course of 2016Investors need to have strong holding power, and should try not to rely to heavily on rents to cover their loan payments

Singapore

United Overseas Bank Limited provides a wide range of financial services including personal financial services, wealth management, private banking, commercial and corporate banking, transaction banking, investment banking, corporate finance, capital market activities, treasury services, futures broking, asset management, venture capital management and insurance.

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UOB (UOB SP)

DBS' Q4 Result In Line; Net Interest Margin Improvement and Steady Bad Debt Are Highlights

Narrow-moat DBS reported a good fourth-quarter result, which was in line with our expectations.Net profit was down 6% to SGD 1 billion against the...

Morningstar, Inc.

Spectacular Loss for HSBC

It’s as if the bank had no idea about the credit cycle in the first few quarters of last year. HSBC was expensing about US$700 million a quarter...

Daniel Tabbush

DBS Moves to Loss in Greater China

The results for DBS could have been a lot worse. This is often a recurring theme with banks, as credit costs are limited in the hope of an ensuing...

Daniel Tabbush

Hoi Hup Emerged as Top Bidder for Yio Chu Kang EC Land Site

Despite the huge pipeline supply of land for executive condominium (EC) construction, developers appear to be unfazed by the lack of demand and are...

Tay Hock Meng

Commercial Property Outlook 2016

With the global economy poised for a slowdown, 2016 might not be the best year for commercial real estate. We take a closer look at the office and...

PropertyGuru

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