Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Dec 9th which has an aggregated short interest worth USD14.2bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Yageo, Walsin Lihwa, Evergreen Marine.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Dec 9th which has an aggregated short interest worth USD14.2bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Yageo, Walsin Lihwa, Evergreen Marine.


TWSE Short Interest Weekly (Dec 9th): Yageo, Walsin Lihwa, Evergreen Marine

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

Chandra Asri Petrochemical / Equity Bottom-Up

<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> , a subsidiary of <a href="https://www.smartkarma.com/entities/barito-pacific-tbk-pt" target="_blank" data-smartkarma-citation="entities:8851:1" rel="noopener">Barito Pacific (BRPT IJ)</a> , has witnessed its share price almost doubled in the past 12 months thanks to the increased in the PE multiples.
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/112/474/original/image_81014932921578042342591.png?1578042341" class="editor-image img-responsive" data-smartkarma-image-id="112474"></figure>
Its valuation is very rich compared to its peers such as <a href="https://www.smartkarma.com/entities/lotte-chemical-titan-holding-berhad" target="_blank" data-smartkarma-citation="entities:24159:1" rel="noopener">Lotte Chemical Titan Holding (TTNP MK)</a> or <a href="https://www.smartkarma.com/entities/taekwang-industrial-co-ltd" target="_blank" data-smartkarma-citation="entities:6291:1" rel="noopener">Taekwang Industrial (003240 KS)</a> despite the similarity in profit margin level. Indonesia is still in a big deficit of the company's main product. Being the largest petrochemical producer in the country has attracted investors to own the company's shares. The question is whether the company can turn profitable given the upcoming headwinds such as rising oil price, a tighter corporate governance requirement from Indonesian Exchange and potential for a share sale to fund CapEx. 
For existing Long-Only shareholders, selling it at the current valuation would make sense considering the profit that will be realized and the upcoming headwinds.

Chandra Asri Petrochemical (TPIA IJ) , a subsidiary of Barito Pacific (BRPT IJ) , has witnessed its share price almost doubled in the past 12 months thanks to the increased in the PE multiples.

Its valuation is very rich compared to its peers such as Lotte Chemical Titan Holding (TTNP MK) or Taekwang Industrial (003240 KS) despite the similarity in profit margin level. Indonesia is still in a big deficit of the company's main product. Being the largest petrochemical producer in the country has attracted investors to own the company's shares. The question is whether the company can turn profitable given the upcoming headwinds such as rising oil price, a tighter corporate governance requirement from Indonesian Exchange and potential for a share sale to fund CapEx. 
For existing Long-Only shareholders, selling it at the current valuation would make sense considering the profit that will be realized and the upcoming headwinds. 

Chandra Asri (TPIA): Take Your Profit and Go!

Taiwan

USI Corporation manufactures and markets polyethylene resins, a raw material used in the manufacture of plastic. The Company's products are low density polyethylene (LDPE), ethylene vinyl acetate copolymers (EVA), high density polyethylene (HDPE), and linear low density polyethylene (LLDPE).

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USI Corp (1304 TT)

TWSE Short Interest Weekly (Dec 9th): Yageo, Walsin Lihwa, Evergreen Marine

We analyzed TWSE short interest report for the past week and highlight short interest changes in Yageo, Walsin Lihwa, Evergreen Marine.

Ke Yan, CFA, FRM

Chandra Asri (TPIA): Take Your Profit and Go!

Chandra Asri Petrochemical (TPIA IJ) , a subsidiary of Barito Pacific (BRPT IJ) , has witnessed its share price almost doubled in the past 12...

Henry Soediarko

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52-week Range

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