Research from SooChow CSSD Capital Markets (Asia), SCCM Asia Research

SCCM Asia Research

Research from SooChow CSSD Capital Markets (Asia)

Headquartered in Singapore, SooChow CSSD Capital Markets (Asia) is an investment bank focusing on emerging growth companies across Asia, providing a full suite of investment banking services, including corporate finance, mergers and acquisitions advisory, equity capital markets, institutional equities sales and trading and equities research.

SooChow CSSD Capital Markets (Asia)

Thematic (Sector/Industry)

<ul><li>CapitaLand Development invests in 2 prime residential sites in Wuhan and Chengdu for CNY3.5bn</li><li><a href="https://www.smartkarma.com/entities/chip-eng-seng-corp-ltd" target="_blank" data-smartkarma-citation="entities:6441" rel="noopener">Chip Eng Seng Corp (CHIP SP)</a> plans to acquire minority interest in property at 8 Shenton Way</li><li><a href="https://www.smartkarma.com/entities/ara-logos-logistics-trust" target="_blank" data-smartkarma-citation="entities:937" rel="noopener">ARA LOGOS (ALLT SP)</a> to receive writ of summons amounting to S$8m</li></ul>

CapitaLand Development invests in 2 prime residential sites in Wuhan and Chengdu for CNY3.5bnChip Eng Seng Corp (CHIP SP) plans to acquire minority interest in property at 8 Shenton WayARA LOGOS (ALLT SP) to receive writ of summons amounting to S$8m

ASEAN Builder's Scoop (5Apr22) - Capitaland Development Invests CNY3.5bn in CHN

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>There are 33 - mostly firm - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal. </li>
<li>A quiet week with no new deals discussed on Smartkarma.</li>
<li>Key updates took place for: <a href="https://www.smartkarma.com/entities/razer-inc" target="_blank" data-smartkarma-citation="entities:24380:1" rel="noopener">Razer (1337 HK)</a>, <a href="https://www.smartkarma.com/entities/uniti-group-ltd" target="_blank" data-smartkarma-citation="entities:29042:1" rel="noopener">Uniti Group (UWL AU)</a>, <a href="https://www.smartkarma.com/entities/toyo-construction-co-ltd" target="_blank" data-smartkarma-citation="entities:1176:1" rel="noopener">Toyo Construction (1890 JP)</a>, <a href="https://www.smartkarma.com/entities/irongate-group" target="_blank" data-smartkarma-citation="entities:30897:1" rel="noopener">Irongate (IAP AU)</a>, <a href="https://www.smartkarma.com/entities/crown-resorts-ltd" target="_blank" data-smartkarma-citation="entities:808:1" rel="noopener">Crown (CWN AU)</a>, <a href="https://www.smartkarma.com/entities/cimic-group-ltd" target="_blank" data-smartkarma-citation="entities:20030:1" rel="noopener">CIMIC (CIM AU)</a>, <a href="https://www.smartkarma.com/entities/shanghai-jin-jiang-capital-company-limited" target="_blank" data-smartkarma-citation="entities:15781:1" rel="noopener">Jin Jiang Capital (2006 HK)</a> 
</li>
</ul>


There are 33 - mostly firm - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal. 
A quiet week with no new deals discussed on Smartkarma.
Key updates took place for: Razer (1337 HK), Uniti Group (UWL AU), Toyo Construction (1890 JP), Irongate (IAP AU), Crown (CWN AU), CIMIC (CIM AU), Jin Jiang Capital (2006 HK) 



Asia-Pac Weekly Risk Arb Wrap: Uniti, Toyo Construction, Irongate, Crown, CIMIC, Jin Jiang Capital

Yashili International Holdings / Event-Driven

<ul>
<li>For the month of March, five new deals (firm and non-binding) were discussed on Smartkarma with an overall announced deal size of ~US$3bn.</li>
<li>The average premium for the new deals announced (or first discussed) in March was ~31%.</li>
<li>This compares to the average premium for all deals in 2021 (165 deals), 2020 (158 deals), and 2019 (145 deals) of 33%, 31%, and 31.5% respectively.</li>
</ul>


For the month of March, five new deals (firm and non-binding) were discussed on Smartkarma with an overall announced deal size of ~US$3bn.
The average premium for the new deals announced (or first discussed) in March was ~31%.
This compares to the average premium for all deals in 2021 (165 deals), 2020 (158 deals), and 2019 (145 deals) of 33%, 31%, and 31.5% respectively.


<ul>
<li>There are 40 - mostly firm - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal. </li>
<li>One new deal this week: <a href="https://www.smartkarma.com/entities/infroneer-holdings-inc" target="_blank" data-smartkarma-citation="entities:35785:1" rel="noopener">INFRONEER Holdings (5076 JP)</a> taking over the rest of a boring, old construction company <a href="https://www.smartkarma.com/entities/toyo-construction-co-ltd" target="_blank" data-smartkarma-citation="entities:1176:1" rel="noopener">Toyo Construction (1890 JP)</a>.</li>
<li>Key updates took place for: <a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link (LNK AU)</a>, <a href="https://www.smartkarma.com/entities/uniti-group-ltd" target="_blank" data-smartkarma-citation="entities:29042:1" rel="noopener">Uniti  (UWL AU)</a>, <a href="https://www.smartkarma.com/entities/mapletree-commercial-trust" target="_blank" data-smartkarma-citation="entities:106:1" rel="noopener">Mapletree Commercial (MCT SP)</a> /<a href="https://www.smartkarma.com/entities/mapletree-north-asia-commercial-trust" target="_blank" data-smartkarma-citation="entities:5127:1" rel="noopener">Mapletree North (MAGIC SP)</a>, <a href="https://www.smartkarma.com/entities/singapore-press-holdings-limited" target="_blank" data-smartkarma-citation="entities:9952:1" rel="noopener">Singapore Press (SPH SP)</a>, <a href="https://www.smartkarma.com/entities/total-access-communication" target="_blank" data-smartkarma-citation="entities:948:1" rel="noopener"> DTAC TB</a> / <a href="https://www.smartkarma.com/entities/true-corp-pcl" target="_blank" data-smartkarma-citation="entities:8:1" rel="noopener">TRUE TB</a>
</li>
</ul>


There are 40 - mostly firm - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal. 
One new deal this week: INFRONEER Holdings (5076 JP) taking over the rest of a boring, old construction company Toyo Construction (1890 JP).
Key updates took place for: Link (LNK AU), Uniti  (UWL AU), Mapletree Commercial (MCT SP) /Mapletree North (MAGIC SP), Singapore Press (SPH SP),  DTAC TB / TRUE TB



Asia-Pac Weekly Risk Arb Wrap: Link Admin, Uniti, Mapletree, Singapore Press, DTAC/TRUE

<ul><li><a href="https://www.smartkarma.com/entities/dasin-retail-trust" target="_blank" data-smartkarma-citation="entities:23743" rel="noopener">Dasin Retail Trust (DASIN SP)</a> extends facilities for another 3mo following MOU on potential asset sales</li><li><a href="https://www.smartkarma.com/entities/keppel-dc-reit" target="_blank" data-smartkarma-citation="entities:85" rel="noopener">Keppel DC REIT (KDCREIT SP)</a> Keppel DC Singapore 1 master lease commences legal proceedings against DXC Technology Services</li><li><a href="https://www.smartkarma.com/entities/esr-reit" target="_blank" data-smartkarma-citation="entities:10934" rel="noopener">ESR-REIT (EREIT SP)</a>, <a href="https://www.smartkarma.com/entities/ara-logos-logistics-trust" target="_blank" data-smartkarma-citation="entities:937" rel="noopener">ARA LOGOS (ALLT SP)</a> unitholders approve merger to form ESR-Logos REIT</li></ul>

Dasin Retail Trust (DASIN SP) extends facilities for another 3mo following MOU on potential asset salesKeppel DC REIT (KDCREIT SP) Keppel DC Singapore 1 master lease commences legal proceedings against DXC Technology ServicesESR-REIT (EREIT SP), ARA LOGOS (ALLT SP) unitholders approve merger to form ESR-Logos REIT

ASEAN Builder's Scoop (22Mar22) - DASIN Extends Loan Facilities Again

Singapore

ARA LOGOS Logistics Trust operates as a real estate investment trust. The Company invests in logistics warehouse properties. ARA LOGOS Logistics Trust serves customers in Singapore.

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ARA LOGOS (ALLT SP)

ASEAN Builder's Scoop (5Apr22) - Capitaland Development Invests CNY3.5bn in CHN

CHIP to acquire a min stake in 8 Shenton Way; ALLT receives S$8m writ of summons; WINGT divests Penang property for MYR17.5m; MSGB to launch...

SCCM Asia Research

Asia-Pac Weekly Risk Arb Wrap: Uniti, Toyo Construction, Irongate, Crown, CIMIC, Jin Jiang Capital

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

(Mostly) Asia M&A: March 2022 Roundup

For the month of March, five new deals were discussed on Smartkarma with an overall announced deal size of ~US$3bn. The average premium for the new...

David Blennerhassett

Asia-Pac Weekly Risk Arb Wrap: Link Admin, Uniti, Mapletree, Singapore Press, DTAC/TRUE

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

ASEAN Builder's Scoop (22Mar22) - DASIN Extends Loan Facilities Again

KDCREIT master lessee in legal dispute over default payment; EREIT-ALLT merger approved; CPG eyes PHP3.5bn sales from Naic project

SCCM Asia Research

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