In today’s briefing:
- Local Institutions’ Value-Up Momentum Moves: Watch the July Tax Reform Bill
- Morning Views Asia: Lippo Karawaci, Lippo Malls Indonesia Retail Trust, MGM China Holdings, SK Hynix
- Gridwiz IPO Preview
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Local Institutions’ Value-Up Momentum Moves: Watch the July Tax Reform Bill
- MMAS prioritizes dividends over low-PBR, key to government’s Value-up momentum. Despite initial market disappointment, dividend stocks rebounded, underscoring continued investor interest.
- Government officials are collecting historic dividend data to simulate separate taxation impact of dividend income, likely to be included in July’s tax reform bill for National Assembly approval.
- Local institutions focus on dividend-centric Value-up trading, targeting stocks with high cash reserves and dividends. Strategy needed to manage market impact pre-tax reform bill in July.
Morning Views Asia: Lippo Karawaci, Lippo Malls Indonesia Retail Trust, MGM China Holdings, SK Hynix
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.
Gridwiz IPO Preview
- Gridwiz is getting ready to complete its IPO on KOSDAQ in June. Gridwiz focuses on the power demand resource management (DR) business, involving utilities, energy storage system, and solar power.
- The IPO price range is from 34,000 won to 40,000 won. The IPO offering amount ranges from 47.6 billion won to 56 billion won.
- According to the bankers’ valuation, the market capitalization post listing is expected to reach 285 billion won to 335 billion won.