In today’s briefing:
- Jasa Marga (JSMR): Traffic Is Back, on the Ground Sources.
- Asia HY Monthly – LARA Transition Study – Lucror Analytics
- Morning Views Asia: Japfa Comfeed Indonesia, Jingrui Holdings, Tata Steel Thailand, Times China
Jasa Marga (JSMR): Traffic Is Back, on the Ground Sources.
- Indonesia’s reopening has happened for some time but Jasa Marga (Persero) (JSMR IJ) share price has not moved much.
- On-The-Ground sources told that the traffic is back, especially in Jakarta where Jasa Marga has the most toll roads.
- Pre-COVID it was trading at 2-3x PBR and now it’s only 1.35x PBR, premium to Bluebird but has a bigger market capitalization that makes JSMR more investable.
Asia HY Monthly – LARA Transition Study – Lucror Analytics
This month, we undertake a study of movements in the Lucror Analytics Risk Assessment (LARA) for issuers in the Lucror Asia HY index over the last five years.
The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the “In-Focus” section. The Asia Monthly is intended to broaden investors’ understanding of the Asian USD high-yield market.
Morning Views Asia: Japfa Comfeed Indonesia, Jingrui Holdings, Tata Steel Thailand, Times China
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.
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