Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<strong><a href="https://www.smartkarma.com/entities/razer-inc" target="_blank" data-smartkarma-citation="entities:24380:1" rel="noopener">Razer Inc (1337 HK)</a></strong>'s Scheme Document flags the abolishment of the headcount test may become law ahead of the shareholder meeting. That is a game-changer. If true.</li>
<li>
<a href="https://www.smartkarma.com/entities/daiho-corp" target="_blank" data-smartkarma-citation="entities:19647:1" rel="noopener"><strong>Daiho Corp (1822 JP)</strong></a> has announced a deal which is not quite what it looks like. This situation is kind of a governance disaster.</li>
<li>
<a href="https://www.smartkarma.com/entities/uniti-group-ltd" target="_blank" data-smartkarma-citation="entities:29042:1" rel="noopener"><strong>Uniti Group Ltd (UWL AU)</strong></a> backs the revised Morrison/Brookfield tilt and severs ties with Macquarie</li>
</ul>



Razer Inc (1337 HK)'s Scheme Document flags the abolishment of the headcount test may become law ahead of the shareholder meeting. That is a game-changer. If true.

Daiho Corp (1822 JP) has announced a deal which is not quite what it looks like. This situation is kind of a governance disaster.

Uniti Group Ltd (UWL AU) backs the revised Morrison/Brookfield tilt and severs ties with Macquarie


Last Week in Event SPACE: Razer, Daiho, Uniti Group, Toshiba, Tabcorp, China Conch

<ul>
<li>
<strong><a href="https://www.smartkarma.com/entities/singapore-press-holdings-limited" target="_blank" data-smartkarma-citation="entities:9952:1" rel="noopener">Singapore Press Holdings (SPH SP)</a></strong>'s comments and answers about the SPH REIT Chain Offer may be misleading. </li>
<li>
<a href="https://www.smartkarma.com/entities/china-mengniu-dairy-co" target="_blank" data-smartkarma-citation="entities:354:1" rel="noopener"><strong>China Mengniu (2319 HK)</strong></a> is in discussions regarding its holdings in <strong><a href="https://www.smartkarma.com/entities/yashili-international-holdings-ltd" target="_blank" data-smartkarma-citation="entities:3397:1" rel="noopener">Yashili (1230 HK)</a></strong> which may result in a number of "Potential Transactions", and may include a pre-conditional privatisation offer.</li>
<li>
<a href="https://www.smartkarma.com/entities/wh-group-ltd" target="_blank" data-smartkarma-citation="entities:13200:1" rel="noopener"><strong>WH Group (288 HK)</strong></a> is two businesses - a US pork processor and a Chinese one - and both businesses are suffering lower margins than they'd like.</li>
</ul>



Singapore Press Holdings (SPH SP)'s comments and answers about the SPH REIT Chain Offer may be misleading. 

China Mengniu (2319 HK) is in discussions regarding its holdings in Yashili (1230 HK) which may result in a number of "Potential Transactions", and may include a pre-conditional privatisation offer.

WH Group (288 HK) is two businesses - a US pork processor and a Chinese one - and both businesses are suffering lower margins than they'd like.


Last Week in Event SPACE: Singapore Press, Yashili, WH Group, Uniti Group, Toshiba, China Conch

China Conch Venture Holdings / Event-Driven

<ul>
<li>Today (18 March) is the last day of dealing in <strong><a href="https://www.smartkarma.com/entities/china-conch-venture-holdings-ltd" target="_blank" data-smartkarma-citation="entities:19943:1" rel="noopener">China Conch Venture Holdings (586 HK)</a></strong> shares on a <em>cum-entitlement</em> basis for the Conch Environment Protection (CEEP) spin-off.</li>
<li>CEEP is expected to commence trading on the 30 March. The Listing Document is expected to be issued on or around the 22 March.</li>
<li>Separately, I see CCV trading at a 14% <em>premium</em> to its NAV, around its most extreme-ever level. </li>
</ul>


Today (18 March) is the last day of dealing in China Conch Venture Holdings (586 HK) shares on a cum-entitlement basis for the Conch Environment Protection (CEEP) spin-off.
CEEP is expected to commence trading on the 30 March. The Listing Document is expected to be issued on or around the 22 March.
Separately, I see CCV trading at a 14% premium to its NAV, around its most extreme-ever level. 


China Conch Venture (586 HK): Last Day Of Entitlement

Last Week in Event SPACE: Japan Post, Singapore Press, Siam Future, 51job, Kunlun, Shinsei Bank

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<p><em><strong>This week in StubWorld ...</strong></em></p>
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<div class="content-highlight">
<p><a href="https://www.smartkarma.com/entities/china-conch-venture-holdings-ltd" target="_blank" data-smartkarma-citation="entities:19943:1" rel="noopener">China Conch Venture Holdings (586 HK)</a> remains highly elevated as <a href="https://www.smartkarma.com/entities/anhui-conch-cement-co-ltd" target="_blank" data-smartkarma-citation="entities:159:1" rel="noopener">Anhui Conch Cement (914 HK)</a> faces possible deletion from the FTSE China A50 Index.</p>
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<div>
<p>Preceding my comments on China Conch/Anhui Conch are the weekly setup/unwind tables for Asia-Pacific Holdcos.</p>
</div>
<div>
<p>These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold - the $ value of the holding/opco held, over the parent’s market capitalisation, expressed in percent - of at least 20%.</p>
</div>


This week in StubWorld ...



China Conch Venture Holdings (586 HK) remains highly elevated as Anhui Conch Cement (914 HK) faces possible deletion from the FTSE China A50 Index.



Preceding my comments on China Conch/Anhui Conch are the weekly setup/unwind tables for Asia-Pacific Holdcos.


These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold - the $ value of the holding/opco held, over the parent’s market capitalisation, expressed in percent - of at least 20%.


StubWorld: China Conch Venture (586 HK) Trading Rich

China

Anhui Conch Cement Company Limited manufactures cement products. The Company produces silicate cements, slag silicate cements, composite silicate cements, cement clinkers, and other products. Anhui Conch Cement Cement markets its products throughout China and worldwide.

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Anhui Conch Cement (600585 CH)

Last Week in Event SPACE: Razer, Daiho, Uniti Group, Toshiba, Tabcorp, China Conch

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

Last Week in Event SPACE: Singapore Press, Yashili, WH Group, Uniti Group, Toshiba, China Conch

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

China Conch Venture (586 HK): Last Day Of Entitlement

Much of the potential value for CEEP is already baked into CCV's price. If you are in CCV, I'd sell here. Or go short $100 of CCV, Long $80 of...

David Blennerhassett

Last Week in Event SPACE: Japan Post, Singapore Press, Siam Future, 51job, Kunlun, Shinsei Bank

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

StubWorld: China Conch Venture (586 HK) Trading Rich

Anhui Conch may be subject to FTSE China A50 Index deletion in December. Yet the market is assigning HK$15.1bn (US$1.94bn) more to China Conch's...

David Blennerhassett

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