Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

High Yield Experts

Senior Credit Analyst, Lucror Analytics

Trung Nguyen

Senior Credit Analyst

Credit

The Q4/20 results from Lippo Karawaci (LPKR) surprised negatively on account of large asset impairments, both for inventory and the fund managed by its own investment arm. Cash outflows did decrease but remained substantial, and credit metrics, while improving, are still aggressive. That said, the company is on the right track, in our view. Liquidity is adequate, and management has guided for cash flows to turn positive from 2022 onwards. We expect much better performance in 2021, despite the ongoing pandemic. The COVID-19 situation has benefited LPKR, owing to the trend of increased demand for affordable landed housing, especially in suburbs (less dense), as the need to commute to the city centre is lower due to work-from-home policies.

  The Q4/20 results from Lippo Karawaci (LPKR) surprised negatively on account of large asset impairments, both for inventory and the fund managed by its own investment arm. Cash outflows did decrease but remained substantial, and credit metrics, while improving, are still aggressive. That said, the company is on the right track, in our view. Liquidity is adequate, and management has guided for cash flows to turn positive from 2022 onwards.   We expect much better performance in 2021, despite the ongoing pandemic. The COVID-19 situation has benefited LPKR, owing to the trend of increased demand for affordable landed housing, especially in suburbs (less dense), as the need to commute to the city centre is lower due to work-from-home policies. 

Lippo Karawaci - Earnings Flash - FY 2020 Results - Lucror Analytics