Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/wilmar-international-ltd" target="_blank" data-smartkarma-citation="entities:172:1" rel="noopener"><strong>Wilmar International (WIL SP)</strong></a>'s current implied stub and simple ratio (Wilmar/<strong><a href="https://www.smartkarma.com/entities/yihai-kerry-arawana-holdings-c" target="_blank" data-smartkarma-citation="entities:33230:1" rel="noopener">Yihai Kerry Arawana Holdings C (300999 CH)</a></strong>) are both at all-time highs. </li>
<li>Preceding my comments on Wilmar are the current setup/unwind tables for Asia-Pacific Holdcos.</li>
<li>These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.</li>
</ul>



Wilmar International (WIL SP)'s current implied stub and simple ratio (Wilmar/Yihai Kerry Arawana Holdings C (300999 CH)) are both at all-time highs. 
Preceding my comments on Wilmar are the current setup/unwind tables for Asia-Pacific Holdcos.
These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.


StubWorld: Wilmar's All-Time High Implied Stub As Yihai Kerry Touches New Lows

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Archer Daniels Midland Co / Equity Bottom-Up

<ul><li>Archer-Daniels-Midland delivered a mixed result in the recent quarter, with revenues below market expectations, but it surpassed the analyst consensus in earnings.</li><li>The company reported second-quarter adjusted earnings per share of $1.89 and an adjusted segment operating profit of $1.6 billion.</li><li>ADM's team expects continued strength in Brazil's origination, solid biofuel demand, and resilient food demand, leading them to raise their earnings expectations for 2023.</li></ul>

Archer-Daniels-Midland delivered a mixed result in the recent quarter, with revenues below market expectations, but it surpassed the analyst consensus in earnings.The company reported second-quarter adjusted earnings per share of $1.89 and an adjusted segment operating profit of $1.6 billion.ADM's team expects continued strength in Brazil's origination, solid biofuel demand, and resilient food demand, leading them to raise their earnings expectations for 2023.

Archer-Daniels-Midland Company: Catering To The Rising Demand For Health Products! – Key Drivers

Equity Capital Markets

Archer Daniels Midland Co / Equity Capital Markets

<ul><li>Archer-Daniels-Midland had a mixed first quarter as the company failed to meet the revenue expectations of Wall Street despite delivering healthy earnings and cash flows.</li><li>ADM's portfolio and integrated value chain enabled them to respond promptly to emerging opportunities in line with the enduring trends of food security, health and well-being, and sustainability.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Archer-Daniels-Midland had a mixed first quarter as the company failed to meet the revenue expectations of Wall Street despite delivering healthy earnings and cash flows.ADM's portfolio and integrated value chain enabled them to respond promptly to emerging opportunities in line with the enduring trends of food security, health and well-being, and sustainability.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Archer-Daniels-Midland Company: Expansion of Cultivated Meat Industry & Other Drivers

Credit

<ul><li>Archer-Daniels-Midland is one of the largest food processing companies in the world.</li><li>Low water conditions limited North American export volumes, which were largely offset by a strong performance by the South American business.</li><li>Baptista Research looks to evaluate the different credit strengths and credit risks of the company as well as a line-by-line analysis of the financial statements of the company for the past four years.</li></ul>

Archer-Daniels-Midland is one of the largest food processing companies in the world.Low water conditions limited North American export volumes, which were largely offset by a strong performance by the South American business.Baptista Research looks to evaluate the different credit strengths and credit risks of the company as well as a line-by-line analysis of the financial statements of the company for the past four years.

Archer-Daniels-Midland Company: Detailed Credit Analysis & Financial Strength Evaluation Report

<ul><li>This is our first report on global food processing giant, Archer-Daniels-Midland.</li><li>Low water conditions limited North American export volumes, which were largely offset by a strong performance by the South American business.</li><li>The North American business produced excellent volumes and margins in both starches and sweeteners, slightly offsetting decreased ethanol margins.</li></ul>

This is our first report on global food processing giant, Archer-Daniels-Midland.Low water conditions limited North American export volumes, which were largely offset by a strong performance by the South American business.The North American business produced excellent volumes and margins in both starches and sweeteners, slightly offsetting decreased ethanol margins.

Archer-Daniels-Midland Company: Initiation of Coverage – Acquisitions & Other Key Drivers

United States

Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities and products. The Company processes oilseeds, corn, milo, oats, barley, peanuts, and wheat. Archer-Daniels-Midland also processes produce products which have primarily two end uses including food or feed ingredients.

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Archer Daniels Midland Co (ADM US)

StubWorld: Wilmar's All-Time High Implied Stub As Yihai Kerry Touches New Lows

I'd be reluctant to short Wilmar, long YKA here. I might look to short Wilmar against a basket of larger peers (ADM, Bunge etc). I would not be...

David Blennerhassett

Archer-Daniels-Midland Company: Catering To The Rising Demand For Health Products! – Key Drivers

Archer-Daniels-Midland delivered a mixed result in the recent quarter, with revenues below market expectations, but it surpassed the analyst...

Baptista Research

Archer-Daniels-Midland Company: Expansion of Cultivated Meat Industry & Other Drivers

Archer-Daniels-Midland had a mixed first quarter as the company failed to meet the revenue expectations of Wall Street despite delivering healthy...

Baptista Research

Archer-Daniels-Midland Company: Detailed Credit Analysis & Financial Strength Evaluation Report

Archer-Daniels-Midland is one of the largest food processing companies in the world. Low water conditions limited North American export volumes,...

Baptista Research

Archer-Daniels-Midland Company: Initiation of Coverage – Acquisitions & Other Key Drivers

This is our first report on global food processing giant, Archer-Daniels-Midland. Low water conditions limited North American export volumes,...

Baptista Research

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