Founder

Kemp Dolliver, CFA

Cherrystone Hill Research

Thematic (Sector/Industry)

<p>This post is a follow-up to discuss potential follow-on impacts of Hutchison Whampoa's restructuring on the Watson's retail segment. With a deal for O2 in the works, a Watson's listing or sale could be a source of permanent funding for this transaction. As an entity with its own currency, Watson's could accelerate its expansion program. The same is true if a retailer with global ambitions buys control.</p>

This post is a follow-up to discuss potential follow-on impacts of Hutchison Whampoa's restructuring on the Watson's retail segment. With a deal for O2 in the works, a Watson's listing or sale could be a source of permanent funding for this transaction. As an entity with its own currency, Watson's could accelerate its expansion program. The same is true if a retailer with global ambitions buys control.

Hutchison Whampoa Restructuring: Next Move for Watson's? Part Two

Hong Kong

Shun Tak Holdings Limited, through its subsidiaries, develops, invests  and manages properties.  The Company also provides shipping and related travel services and engages in hotel operations and securities investments.

Renaissance Asia Silk Road Group Limited engages in mining business. The Company explores, mines, processes, and distributes gold products. Renaissance Asia Silk Road Group also operates money lending, coal trading, and other businesses.

Century Legend (Holdings) Limited, through its subsidiaries, provides travel agency services and invests in gaming related business.  The Company also provides health and beauty services, commercial and personal loans, general merchandise trading, and stock brokerage services.

APAC Resources Limited is an investment holding company. The Company is principally involved in investments in global resources companies and commodity trading. APAC has offices in Hong Kong and Shanghai.

Pizu Group Holdings Limited , through its subsidiaries,provides, develops, and distributes educational software in China. The Company also provides software services for management of power sales, power production and power plant.

Build King Holdings Limited, through its subsidiaries, offers construction services.  The Company constructs public works projects for governmental and quasi-governmental entities in Hong Kong.

EVA Precision Industrial Holdings Limited, through its subsidiaries, designs and fabricates metal stamping moulds, manufactures metal stamping components, and provides assembly services in the Peoples Republic of China.

Eva Precision Industrial Holdings (838 HK)

Analogue Holdings Limited operates as an investment holding company. The Company, through its subsidiaries provides building services, environmental engineering building, software development, escalators installation and maintenance services. Analogue Holdings provides services worldwide.

CNNC International Limited participates in uranium products trading and other nuclear power generation projects.

Chen Hsong Holdings Limited, through its subsidiaries, manufactures and sells plastic injection moulding machines and related products.

Camellia Public Limited Company operates agriculture and horticulture businesses. The Company produces tea, avocados, nuts, pineapples, and soya products, as well as provides food storage, transportation, and distribution services. Camellia Public serves customers in Europe.

ALUKO Co., Ltd. manufactures window frames, balconies, and ventilators made of aluminum.  The Company provides various colors and types of aluminum window frames and sashes.  ALUKO also produces steel furniture.

Nippi, Incorporated. manufactures gelatin and collagen peptides for food products, health foods, and pharmaceutical, photographic film and printing paper.  The Company manufactures leather for shoes, bags, car interiors and clothing.

Jaiprakash Associates Ltd. is an industrial conglomerate.  The Company's lines of business include engineering and construction, cement, power, hospitality, real estate, and expressways and highways.

Zuari Global Ltd manufactures nitrogenous, phosphatic and potassic fertilizers. The Company also manufactures and sells pesticides, organic insecticides and hybrid varieties of seeds. Zuari's other operations consist of a furniture products division, as well as a cement manufacturing business.

Kumpulan Fima Berhad is an investment holding company. Through its subsidiaries, the Company operates pineapple estate, processes and cans pineapple, and cultivates tropical fruits.  Kumpulan Fima also has operation in cattle farming, provides transportation services, and trades securities and confidential documents.

Petrovietnam General Services Joint Stock Corporation distributes telecommunication, IT, and electronic products in Vietnam. It operates through five divisions: Electronic Product Trading; Petroleum Materials and Supplies Providing; Plastic Resins and Textile Fibers Trading; Gas Distribution; and Others. It distributes mobile phones and parts, laptops, software, accessories, and other technology products; polypropylene resins and polyester stable fibers; LPG under the PET-GAS brand; and linen products, as well as trades in textile fibers and cassava. The company also engages in the supply of oilfield materials and equipment; the provision of project logistics and contract logistics, supply chain services, express cargo, freight transport, customs and insurance, immigration services, and staffing services to oil and gas companies, drilling contractors, and JOCs; and designing, transporting, loading/unloading, and lifting cargos. In addition, it offers transportation services to oil and gas contractors; labors for housekeeping, cleaning, water and electricity maintenance, and industrial hygiene services for companies in oil and gas industry; and catering and other services. Further, the company provides real estate management services; leases offices, warehouses, workshops, and premises; invests in and develops real estate properties; and offers supply chain management solutions, as well as operates Petrosetco Hotel that comprises 37 rooms. Additionally, it sells supplies, office equipment, and audio visual equipment; manufactures electronic components and media equipment; and retails and repairs computers, peripherals, software, telecommunication, and audiovisual equipment; and provides trading and procurement services in oil and gas field. It also engages in information technology and telecommunication businesses. The company was incorporated in 1996 and is based in Ho Chi Minh City, Vietnam.

O S CO., LTD. leases and sells real estate.  The Company also operates movie theaters, hotels, and restaurants.

Balmer Lawrie Investments Ltd., through subsidiaries, manufactures lubricating greases and lube barrels, exports tea, and operates travel and shipping businesses.

Chongqing Machinery and Electric Co Ltd operates as a machine-tool maker. The Company manufactures equipment for industries such as auto production and environmental protection.

Chevalier International Holdings Limited, through its subsidiaries, provides building and engineering services.  The Company also trades motor vehicles and Information Technology (IT) and business machines.  In addition, Chevalier operates property, hotel and insurance business as well as provides IT services.

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Chevalier International New (25 HK)

Hutchison Whampoa Restructuring: Next Move for Watson's? Part Two

This post is a follow-up to discuss potential follow-on impacts of Hutchison Whampoa's restructuring on the Watson's retail segment. With a deal...

Kemp Dolliver, CFA

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