Podcast by Magellan Asset Management, Magellan Asset Management

MAGELLAN - IN THE KNOW

Podcast by Magellan Asset Management

Magellan Asset Management

‘In The Know’ is a new monthly investment podcast brought to you by Magellan Asset Management, one of Australia’s leading global equities investors. We seek to bring you timely, unique and thought-provoking insights to help you make sense of today’s investment landscape. From deep dives into the latest macroeconomic and geopolitical issues, to our analysis on sectors and stocks on global markets. Join Magellan, as they connect with a myriad of experts in their field, including CEOs of stocks we hold, global leaders and consultants in finance, investing, risk and politics, and key members of our investment team and business. ‘In The Know’ - a monthly podcast from Magellan is worth investing your time in! Magellan - Experts in global investing.

Thematic (Sector/Industry)

<ul>
<li>Gerald Stack, Ben McVicar, and Ofa Karlina discuss investing in infrastructure and the opportunities it offers</li>
<li>Infrastructure assets provide essential services like energy, water, and transport, leading to reliable and predictable long-term demand</li>
<li>Short-term problems or opportunities in infrastructure companies can impact share prices, creating investment opportunities for savvy investors</li>
</ul>
<p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>


Gerald Stack, Ben McVicar, and Ofa Karlina discuss investing in infrastructure and the opportunities it offers
Infrastructure assets provide essential services like energy, water, and transport, leading to reliable and predictable long-term demand
Short-term problems or opportunities in infrastructure companies can impact share prices, creating investment opportunities for savvy investors

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Lessons Learnt from Investing in Essential Services

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

Malaysia Airports Holdings / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/malaysia-airports-holdings-bhd" target="_blank" data-smartkarma-citation="entities:117:1" rel="noopener">Malaysia Airports Holdings (MAHB MK)</a>’s pre-conditional voluntary conditional offer from a four-member consortium is RM11.00, a 5.8% premium to the last close. </li>
<li>Despite the offer representing an all-time high, the 90% minimum acceptance condition could be challenging due to the low takeover premium and discount to historical and peer multiples. </li>
<li>The consortium can overcome issues satisfying the minimum acceptance condition by bumping the offer or lowering the acceptance condition. </li>
</ul>



Malaysia Airports Holdings (MAHB MK)’s pre-conditional voluntary conditional offer from a four-member consortium is RM11.00, a 5.8% premium to the last close. 
Despite the offer representing an all-time high, the 90% minimum acceptance condition could be challenging due to the low takeover premium and discount to historical and peer multiples. 
The consortium can overcome issues satisfying the minimum acceptance condition by bumping the offer or lowering the acceptance condition. 


Malaysia Airports (MAHB MK): Pre-Conditional Voluntary Offer at RM11.00

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Equity Bottom-Up

<ul>
<li>Outbound continues to improve, March load factor matched pre-Covid level</li>
<li>Appears Chinese tourists are "spreading their wings", travelling farther afield</li>
<li>Trip.com has been best YTD performer in the space; can airlines catch up?</li>
</ul>


Outbound continues to improve, March load factor matched pre-Covid level
Appears Chinese tourists are "spreading their wings", travelling farther afield
Trip.com has been best YTD performer in the space; can airlines catch up?


Monthly Chinese Tourism Tracker | Outbound Recovery Continues, but Some Regional Destinations Lag

<ul>
<li>Chinese outbound travel demand continued to recover nicely in February</li>
<li>Major airlines' decision to slow capacity rebuild now looks very prudent</li>
<li>But the airlines have underperformed, surprisingly; Buy Trip.com below US$43</li>
</ul>


Chinese outbound travel demand continued to recover nicely in February
Major airlines' decision to slow capacity rebuild now looks very prudent
But the airlines have underperformed, surprisingly; Buy Trip.com below US$43


Monthly Chinese Tourism Tracker | Decision to Slow Capacity Rebuild in Mid-2023 Now Looks Prudent

<ul>
<li>Adjusting for impact of LNY timing, January numbers still seem firm</li>
<li>Headline February / LNY 2024 traffic growth also appears solid</li>
<li>Our thesis remains that tourism recovery takes longer, strongest in H124</li>
</ul>


Adjusting for impact of LNY timing, January numbers still seem firm
Headline February / LNY 2024 traffic growth also appears solid
Our thesis remains that tourism recovery takes longer, strongest in H124


Monthly Chinese Tourism Tracker | January & Initial Read On February Both Indicate Solid Growth

China

Beijing Capital International Airport Company Limited operates both aeronautical and non-aeronautical business in the Beijing airport.  The Company provides aircraft movement and passenger service facilities, safety and security services, fire-fighting services, and ground handling services.  In addition, Beijing Capital operates duty free and other retail shops and leases properties.

Beijing Capital International Airport (BCIA) (694 HK)

Beijing Capital International Airport (BCIA)

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Beijing Capital International Airport (BCIA) (694 HK)

Lessons Learnt from Investing in Essential Services

The podcast explores the benefits of investing in infrastructure assets for reliable long-term cash flows and opportunities for growth.

MAGELLAN - IN THE KNOW

Malaysia Airports (MAHB MK): Pre-Conditional Voluntary Offer at RM11.00

The offer is light based on historical/peer multiples. The consortium can overcome issues satisfying the 90% minimum acceptance condition by...

Arun George

Monthly Chinese Tourism Tracker | Outbound Recovery Continues, but Some Regional Destinations Lag

The recovery in Chinese outbound tourism demand continued in March, but certain data suggest the pace of growth for some regional destinations is...

Tracking Traffic

Monthly Chinese Tourism Tracker | Decision to Slow Capacity Rebuild in Mid-2023 Now Looks Prudent

February outbound travel demand continued to recovery nicely, and the major airlines' decision to slow their capacity rebuild in H223 now appears...

Tracking Traffic

Monthly Chinese Tourism Tracker | January & Initial Read On February Both Indicate Solid Growth

In January 2024 Chinese travel demand continued to recover, and initial indications are that demand related to the long LNY holiday was also strong.

Tracking Traffic

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)