Independent International Investment Research

although there ha s been a decline in disc retionary budgets...recently stated that it expects a flat pricing environment and, coupled...##.#%) Although we anticipate a significant negative cu rrency impact...we upgrade the ADR from a SELL to a HOLD. We will reassess the

Page # ENEA S.A. ## November #### www.iirgroup...Company contact information: ENEA S.A. Ul.F. Nowowiejski ## ##...pl Report summary ENEA S.A.?s (ENEA) main business involves...industrial and commercial acti vities. As most of Western European nations

Hulic Co., Ltd (Hulic) is a Japan based company offering property...insurance and ancillary activities, such as building security, maintenance and construction...## districts of Tokyo, totaling a surface area of ###,###...between #### and ####, with a subsequent collapse in property and

alone un derground shopping centers (a shopping center built solely underground...retailers of apparel and accessories. As of ## September ####, Renhe...de velopment. The company has a distinct advantage over other commercial...commercial shopping ce nter operators as it is not subject to

Solar), incorporated in Germany, is a global provider of PhotoVoltaic (PV...manufactures solar receivers, which are a key component in solar thermal...five years and we forecast a CAGR of greater than ##...renewable energy across the globe, as the costs of sourcing energy

stock products in China with a product line comprising of a wide range of locomotives, passenger...s (PRC) government . CSR is a dominant player in the rolling...over-allotment option comprising of a maximum of ### mn additional...shares are being sold with a price band of HKD#.##

Ivanhoe Australia Limited (Ivanhoe) is a copper and gold exploration and...of the company. Ivanhoe is a subsidiary of Vancouver based Ivanhoe...##.#%, which will be a source of revenue in the...future. However, there is always a risk of delays in striking

is expected to grow at a CAGR of ##.#% over...The company plans to utilize a significant portion of the net...issue, the public will hold a ##.#% stake in the...overview Drake & Scull is a UAE based Public Join t

trusts will be jointly listed as BrisConnections Unit Trusts (BrisConnections ). The...the lowest in Australia on a per kilometer (km) basis. The...s revenues will grow at a Compou nd Annual Growth Rate...price of AUD#.##, payable as AUD#.## on application and

Kedrion S.p.A. ## July #### Tel. +##...Report summary Kedrion S.p.A. (Kedrion) is one of Italy...issue, the public will hold a ##.#% stake in the...working capital Kedrion S.p.A. ## July #### Tel. +##

company of the Alliances Group, a leading player in the integrated...of Morocco?s GDP, with a contribution of nearly #.#...the country, has grown at a CAGR of ##.#% since...#### and is characterized by a huge housing deficit due to

SJM Holdings Limited. (SJM) is a leading casino operator in Macau...operating ## casinos out of a total of ## as of ## April ####. SJM...of # companies to receive a concession or sub-concession to...revenues from its casino operations. As of ## April ####, the

information: #-#-###/##/A/###/A, Road No. ##, Jubilee Hills...across India. The company has a current installed capacity of ###...MW and plans to achieve a power generation installed capacity of...structured each of its projects as separate subsidiaries, or Special Purpose

and cement in China, maintaining a total of ## clinker production...## clinker production lines with a total capacity of ##.#...## cement grinding lines with a production capacity of ##.#...the provision of services such as tran sportation and equipment installation

Bolsa Mexicana De Valores S.A. ## June #### Tel. +##...Bolsa Mexicana De Valores S.A. (BMV) is the only stock...America, which gives the company a significant competitive advantage. We believe...located in Mexico, which has a smaller capital market in terms

Tarnowie-Mo \## cicach S.A. ## June #### Tel. +##...Tarnowie-Mo \## cicach S.A Street. Kwiatkowski #, ##-###...Tarnowie-Mo \## cicach S.A. (ZAT), is th e largest...ZAT is aiming to develop a strong competitive position in the

Genomma Lab Internacional, S.A.B. de C.V. ##...based Genomma Lab Internacional S.A.B. de C.V. (Genomma...V. (Genomma Lab) has established a strong presence in the ov...strong goodwill, with Asepxia holding a ##.#% share of the

Petroleo e Gas Participacoes S.A. ## June #### Tel. +##...Petroleo e Gas Participacoes S.A. (OGX), which is incorporated in...and Para-Maranhao. OGX has a strong order book and ##...## projects in its pipeline as of the da te its