Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Equity Bottom-Up

Jardine Matheson Holdings / Equity Bottom-Up

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<p>A double-dose of StubWorld this week ...</p>
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<p><a href="https://www.smartkarma.com/entities/jardine-matheson-hldgs-ltd" target="_blank" data-smartkarma-citation="entities:19718:1" rel="noopener">Jardine Matheson Hldgs (JM SP)</a>'s discount to NAV - stand-alone and relative to <a href="https://www.smartkarma.com/entities/jardine-strategic-hldgs-ltd" target="_blank" data-smartkarma-citation="entities:15081:1" rel="noopener">Jardine Strategic Hldgs (JS SP)</a> - is at one-year lows. The simple ratio - JM/JS -  is well above the long-term average.</p>
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<p>Preceding my comments on Jardines and <a href="https://www.smartkarma.com/entities/kingsoft-corp-ltd" target="_blank" data-smartkarma-citation="entities:492:1" rel="noopener">Kingsoft Corp (3888 HK)</a> are the latest setup/unwind tables for Asia-Pacific Holdcos.</p>
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<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>
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A double-dose of StubWorld this week ...



Jardine Matheson Hldgs (JM SP)'s discount to NAV - stand-alone and relative to Jardine Strategic Hldgs (JS SP) - is at one-year lows. The simple ratio - JM/JS -  is well above the long-term average.



Preceding my comments on Jardines and Kingsoft Corp (3888 HK) are the latest 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: Matheson Nudging Extreme Levels As Buybacks Continue

China

Beijing Kingsoft Office Software, Inc. develops and distributes software products. The Company develops anti virus software, office software, and other products. Beijing Kingsoft Office Software also provides cloud computing, system integration, and other services.

Beijing Kingsoft Office Softwa (688111 CH)

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52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
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Dividend (Yield)	0.00

StubWorld: Matheson Nudging Extreme Levels As Buybacks Continue

A double-dose of StubWorld this week ... Jardine Matheson Hldgs (JM SP)'s discount to NAV - stand-alone and relative to Jardine Strategic Hldgs...

David Blennerhassett