17/7/2018 - US Stock Watchlist

Old Dominion Freight - ODFL - trucking
Skechers USA Inc - SKX - textile
Reliance Steel & Alu - RS - steel
Ulta Beauty, Inc. - ULTA - specialty retail
Five Below, Inc. - FIVE - specialty retail
Etsy, Inc. - ETSY - specialty retail
Stamps.com Inc. - STMP -  software
Facebook Inc - FB - social media
UnitedHealth Group - UNH - healthcare
Grand Canyon Education - LOPE - education
Orbotech Ltd - ORBK - electronics
Arista Networks Inc - ANET - computer systems
Warrior Met Coal Inc - HCC - coal

Hong Kong Stock Watchlist - 6/11/2017

Market caps in HKD

1. Tencent Holdings Ltd - 3.495t - gaming
2. Ping An Insurance (Grp) Co of China Ltd. - 1.35t - financial
3. Agricultural Bank of China Ltd - 1.404t - banking
4. Geely Automobile Holdings Ltd - 216.9b - automobile
5. Guangzhou Automobile Group Co Ltd - 180.9b - automobile
6. ANTA Sports Products Ltd - 92.7b - sporting goods manufacturer
7. Dali Foods Group Co Ltd - 82.7b - f&b
8. Haier Electronics Group Co Ltd - 60.4b - home electric appliance
9. Minth Group Ltd - 50.2b - auto parts manufacturer
10. SITC International Holdings Co Ltd - 19.8b - transport and logistics
11. Fu Shou Yuan International Group Ltd - 11.9b - funeral services
12. Texhong Textile Group Ltd - 9.7b - textile manufacturer
13. Yihai International Holding Ltd - 7.7b - f&b compound manufacturer
14. Essex Bio-Technology Ltd - 2.8b - pharma for eye and surface wounds

US Stock Watchlist - 6/11/2017

Market caps in USD

1. Alphabet Inc - 723.4b - tech
2. Alibaba Group Holding Ltd - 469.2b - e-commerce
3. Intel Corp - 216.8b - IT, cloud
4. UnitedHealth Group Inc - 205b - healthcare services
5. U.S. Bancorp - 91.4b - financial, banking
6. Applied Materials Inc - 60.3b - semiconductor equipment manufacturer
7. Micron Technology Inc - 50.4b - semiconductor manufacturer
8. Lam Research Corp - 33.5b - semiconductor services and equipment manufacturer
9. Principal Financial Group Inc - 19.7b - investment management
10. KLA-Tencor Corp - 16.6b - semiconductor services
11. IPG Photonics Corp - 11.5b - laser equipment manufacturer
12. YY Inc - 5.6b - social networking

Japan Stock Watchlist - 6/11/2017

Market caps in JPY

1. SMC Corp - 2.911t - pneumatic product manufacturer
2. Daiwa House Industry Co Ltd - 2.824t - real estate
3. Asahi Group Holdings Ltd - 2.531t - alcohol beverages
4. Kajima Corp - 1.307t - construction
5. Koito Manufacturing Co Ltd - 1.252t - automotive lighting equipment manufacturer
6. Oracle Corp Japan - 1.225t - IT, cloud
7. Disco Corp - 966b - semiconductor equipment manufacturer
8. Fuji Electric Co Ltd - 624b - industrial equipment manufacturer
9. Square Enix Holdings Co Ltd - 600b - gaming
10. Harmonic Drive Systems Inc - 585b - precision speed reducer
11. THK Co Ltd - 581b - industrial equipment manufacturer
12. Mebuki Financial Group Inc - 567b - banking
13. Screen Holdings Co Ltd - 517b - semiconductor equipment manufacturer
14. Ulvac Inc - 419b - vacuum machinery
15. Shima Seiki Mfg. Ltd - 260b - manufacturing

Guangzhou Automobile Group (2238.HK)

3/11/2017

State-owned automobile group engaged in diversified business including R&D and manufacturing for vehicles (automobiles and motorcycles) and parts, automotive trade services, automotive financial services etc. GAC owns or has directly invested in dozens of businesses, including GAC Motor, GAC Honda, GAC Toyota, GAC Mitsubishi, GAC Fiat Chrysler, GAC Engineering etc.

metrics

1. last done 19.36 hkd
2. market cap 180965m hkd, 31.6b sgd
3. pe 12.55, pb 2.15
4. total debt to equity 33.8%, current ratio 1.44
5. dividend yield 1.97%, 5yr cagr 27.7%, consistent
6. 5yr cagr: revenue 30.7%, earnings 40.8%, consistent
7. strong cash flow

operations

1. 5 business segments
1. R&D
2. manufacture of vehicles and motorcycles
1. joint ventures with honda, toyota, Fiat-Chrysler, Mitsubishi and GAMC
2. hybrid and full-electric vehicles
3. joint venture Wuyang-Honda - motorcycles
3. parts and components
4. commercial services
5. financial services

1. growth seems more from SUVs, growing 61% yoy in 1H2017
2. electric vehicle sales and production growth 14.4% and 19.7% in respectively 1H2017

investment thesis

1. established brands
2. value chain in automobile industry
3. cheap relative to peers

risks

1. slow down in China vehicle industry

Sembcorp Marine (S51.SI)

2/11/2017

metrics

• last done $2.00
• market cap sgd 4.2b
• pe 51.12, pb 1.67, nav 1.206
• total debt to equity 162.18%, current ratio 1.34

relative valuation

• keppel corp pb 1.17
• sembcorp ind pb 0.88
• sembcorp marine 1.67

operations

• 2 main segments
• rigs & floaters, repairs & upgrades, offshore platforms and specialised shipbuilding
• ship chartering
• Rigs and floaters remained the largest segment, accounting for 40% of total revenue followed by offshore platforms at 36%, repair and upgrades at 20% and others at 4%

 summary

1. Successfully sold nine Pacific Class 400 jack-up drilling rigs to Borr Drilling, sold for about US$1.3 billion, to improve liquidity position. with current ratio at 1.34, liquidity should not be a problem in the meantime
1. interest expenses to decline as debt is reduced
2. We believe provisions of $329 million made in FY2015 for the Sete Brasil contracts remain adequate under present circumstances
3. With deliveries till 2020, our net order book currently stands at $7.97 billion. Excluding Sete Brasil projects, net order book totals $4.85 billion
4. Good progress has been made in the development and commercialisation of our Gravifloat technology for near-shore gas infrastructure solutions

risks

• execution risks from existing order book and future orders
• unforeseen impairment risks
• oil price decline

Market Outlook 1/11/2017

Wed Nov 1

• US Manufacturing PMI (reported monthly early in the month)
• DBS Group earnings report

Thurs Nov 2

• Best World earnings report
• China Aviation earnings report

Friday Nov 3

• US Nonfarm payroll (reported on first Friday of following month)
• US Non-manufacturing PMI (reported monthly early in the month)
• OCBC earnings report
• Sunningdale Tech earnings report

Summary

Week of small to mid cap earnings reports as well as banks. We see that the banks have already rallied in anticipation of the results this week, so upside risk reward ratio is suppressed. 

Other than the earnings, US monthly figures coming out on Wed might push market higher given that figures have been so good in the recent past. Given HSI decline, could be a good time to enter. 

Brent oil above 60. Positive for Keppel Corp.

US Tech stocks unending rally. Why?

SG Manufacturing stocks recent breakout. Why?

• http://www.businesstimes.com.sg/government-economy/singapore-business-expectations-up-for-next-six-months-services-show-signs-of

Europe Stock Watchlist - 28/10/2017

UK Stocks

1. WORLDPAY GROUP PLC ORD 3P
2. INTERNATIONAL CONSOLIDATED AIRL
3. RPC GROUP PLC ORD 5P
4. METRO BANK PLC ORD 0.0001P
5. PRUDENTIAL PLC ORD 5P
6. ANGLO AMERICAN PLC ORD USD0.549
7. NMC HEALTH PLC ORD 10P
8. BABCOCK INTERNATIONAL GROUP PLC
9. WHITBREAD PLC ORD 76 122/153P
10. WIZZ AIR HOLDINGS PLC ORD GBP0.
11. BARRATT DEVELOPMENTS PLC ORD 10
12. PERSIMMON PLC ORD 10P
13. FEVERTREE DRINKS PLC ORD 0.25P
14. Berkeley Group Holdings PLC

Germany Stocks

1. HELLA KGAA HUECK+CO. O.N.
2. LEG IMMOBILIEN AG NA O.N.
3. KION GROUP AG
4. VONOVIA SE NA O.N.
5. DEUTSCHE WOHNEN AG INH
6. GRAND CITY PROPERT.EO-10
7. ALLIANZ SE NA O.N.
8. BAYER AG NA O.N.
9. WIRECARD AG
10. MTU AERO ENGINES NA O.N.
11. CONTINENTAL AG O.N.
12. INFINEON TECH.AG NA O.N.
13. HENKEL AG+CO.KGAA ST O.N.
14. BECHTLE AG O.N.

Japan Stock Watchlist - 28/10/2017

Market cap based on USD

1. 9022.T Central Japan Railway Co - 35.8b - railway
2. 9202.T ANA Holdings Inc - 13.27b - aviation
3. 7735.T Screen Holdings Co Ltd - 3.54b - semiconductor equipment manufacturing
4. 8053.T Sumitomo Corp - 18.22b - industrial conglomerate
5. 3064.T MonotaRO Co Ltd - 3.52b - manufacturing supplier
6. 6098.T Recruit Holdings Co Ltd - 40.56b - recruitment agency
7. 4768.T Otsuka Corp - 6.33b - IT
8. 9684.T Square Enix Holdings Co Ltd - 4.8b - gaming
9. 4716.T Oracle Corp Japan - 10.59b - IT
10. 8876.T Relo Group Inc - 3.6b - welfare outsourcing
11. 4587.T PeptiDream Inc - 4.02b - pharma
12. 9433.T KDDI Corp - 65.33b - telecommunications
13. 9062.T Nippon Express Co Ltd - 6.45b - transportation
14. 6728.T Ulvac Inc - 3.36b - vacuum machinery
15. 6383.T Daifuku Co Ltd - 5.93b - equipment manufacturing
16. 6324.T Harmonic Drive Systems Inc - 4.65b - precision speed reducer
17. 6503.T Mitsubishi Electric Corp - 36.63b - electrical equipment manufacturing
18. 6268.T Nabtesco Corp - 4.78b - industrial machinery manufacturer
19. 6146.T Disco Corp - 8.11b - semiconductor equipment manufacturing
20. 6273.T SMC Corp - 25.08b - manufacturer
21. 9962.T Misumi Group Inc - 7.31b - manufacturer
22. 1925.T Daiwa House Industry Co Ltd - 24.39b - real estate
23. 7747.T Asahi Intecc Co Ltd - 3.6b - healthcare equipment manufacturer
24. 7532.T Don Quijote Holdings Co Ltd - 6.5b - discount stores
25. 7453.T Ryohin Keikaku Co Ltd - 7.57b - self brand retail goods
26. 2782.T Seria Co Ltd - 4.35b - discount stores
27. 3092.T Start Today Co Ltd - 9.47b - e-commerce
28. 8954.T Orix JREIT Inc - 3.47b - reit
29. 8960.T United Urban Investment Corp - 4.32b - reit
30. 3283.T Nippon Prologis REIT Inc - 3.99b - reit
31. 2229.T Calbee Inc - 4.88b - food
32. 3391.T Tsuruha Holdings Inc - 5.91b - drug stores
33. 2127.T Nihon M&A Center Inc - 3.72b - m&a brokering
34. 6770.T Alps Electric Co Ltd - 5.63b - manufacturing
35. 6504.T Fuji Electric Co Ltd - 4.28b - manufacturing
36. 6594.T Nidec Corp - 38.43b - manufacturing
37. 1812.T Kajima Corp - 10.77b - construction
38. 1808.T Haseko Corp - 4.3b - construction
39. 3401.T Teijin Ltd - 4.16b - chemical products
40. 4042.T Tosoh Corp - 7.35b - chemical products
41. 4021.T Nissan Chemical Industries Ltd - 5.69b - chemical products
42. 7269.T Suzuki Motor Corp - 26.99b - automobile
43. 7988.T Nifco Inc - 3.25b - manufacturing
44. 7276.T Koito Manufacturing Co Ltd - 10.46b - automobile equipment manufacturing
45. 7270.T Subaru Corp - 26.79b - automobile
46. 5975.T Topre Corp - 1.52b - automobile equipment manufacturing

Singapore REIT watchlist

1. Mapletree Commercial Trust - 4.4b
2. Keppel REIT - 3.7b
3. Mapletree Industrial Trust - 3.3b
4. Mapletree GCC Trust - 3b
5. Croesus Retail Trust - 1.5b - japan, low rates, potential takeover
6. Keppel DC REIT - 1.4b
7. CapitaLand Retail China Trust - 1.4b
8. Lippo Malls Trust - 1.2b - indonesia, strong spending growth, acquisitions
9. Frasers Commercial Trust - 1.1b
10. First REIT - 1b
11. Viva Industrial Trust - 800m
12. Ascendas India Trust - 
13. Frasers L&I Trust - 

Hong Kong Stock Watchlist

Hong Kong Stock Watchlist:

1. 0700.HK TENCENT - 331.19b - gaming
2. 2318.HK PING AN - 117.31b - insurance
3. 0175.HK GEELY AUTO - 17.33b - automotive
4. 2018.HK AAC TECH - 15.38b - handset and acoustic manufacturing
5. 2238.HK GAC GROUP - 11.7b - automotive
6. 3606.HK FUYAO GLASS - 9.75b - glass manufacturing for vehicles
7. 1093.HK CSPC PHARMA - 8.86b - pharma
8. 0669.HK TECHTRONIC IND - 8.55b - power tools manufacturer
9. 0696.HK TRAVELSKY TECH - 8.36b - it services
10. 2020.HK ANTA SPORTS - 8.08b - sportwear
11. 3311.HK CHINA STATE CON - 7.14b - construction
12. 3969.HK CHINA CRSC - 6.54b - railway services
13. 0285.HK BYD ELECTRONIC - 5.11b - handset component manufacturer
14. 0425.HK MINTH GROUP - 4.73b - automotive component manufacturer
15. 1316.HK NEXTEER - 4.01b - automotive component manufacturer
16. 0958.HK HN RENEWABLES - 2.98b - renewable electric utility
17. 6198.HK QINGDAO PORT - 2.78b - port services
18. 0345.HK VITASOY INT'L - 2.19b - food and beverage supplier
19. 0698.HK TONGDA GROUP - 1.55b - handset electricals manufacturing
20. 1448.HK FU SHOU YUAN - 1.34b - funeral services
21. 0354.HK CHINASOFT INT'L - 1.34b - it services
22. 1579.HK - Yihai International Holding Ltd - 360m - food manufacturer
23. 2283.HK TK GROUP HLDG - 351.11m - plastics manufacturer
24. 1061.HK ESSEX BIO-TECH - 316.12m - pharma eye