Asia Ex-J Consumer/ Transport analyst

Valerie Law, CFA

Thematic (Sector/Industry)

<p>There were a couple of news items this week that convinced me that the Singapore government will not protect traditional businesses or practices, from disruption. Even the Singapore government has started to shift its career-advancement practices (<a href="http://www.straitstimes.com/singapore/civil-servants-no-longer-grouped-by-education-level" target="_blank">civil servants no longer grouped by educational level</a>) and the channels it propagates messages. </p><p>1. <strong>First, a headline that can't be missed</strong>:  On Wednesday (22 February), the Business Times headline screams: Signal goes out to struggling firms: <strong>Buck up -</strong>…</p>

There were a couple of news items this week that convinced me that the Singapore government will not protect traditional businesses or practices, from disruption. Even the Singapore government has started to shift its career-advancement practices (civil servants no longer grouped by educational level) and the channels it propagates messages. 1. First, a headline that can't be missed:  On Wednesday (22 February), the Business Times headline screams: Signal goes out to struggling firms: Buck up -…

Singapore: Traditional Firms Must Disrupt Themselves or The Market Will Do It

<p>Extending my point about more demanding transportation frameworks going forward (see <a href="https://www.smartkarma.com/insights/comfortdelgro-fy16-results-an-era-where-competition-hits-a-higher-gear" target="_blank" data-smartkarma-citation="insights:8719">ComfortDelGro FY16 Results: An Era Where Competition Hits a Higher Gear</a> ), the recent fire-bomb attack on Hong Kong’s MTR that left 19 injured signals increasing costs for transport operators. This article presents another reason why investors should sell MTR Corp, on top of points already provided by fellow insight provider Sameer Taneja in an earlier piece <a href="https://www.smartkarma.com/insights/mtr-66-hk-conviction-sell-thesis" target="_blank" data-smartkarma-citation="insights:7982">MTR (66 HK): Conviction Sell Thesis</a></p><h2><strong>Security Costs to</strong></h2>…

Extending my point about more demanding transportation frameworks going forward (see ComfortDelGro FY16 Results: An Era Where Competition Hits a Higher Gear ), the recent fire-bomb attack on Hong Kong’s MTR that left 19 injured signals increasing costs for transport operators. This article presents another reason why investors should sell MTR Corp, on top of points already provided by fellow insight provider Sameer Taneja in an earlier piece MTR (66 HK): Conviction Sell ThesisSecurity Costs to…

66 HK and SBUS SP: Attack on HK Metro Signals Increases in Transport Operators' Costs

Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

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<ul>
<li>Obama continues the 'pivot to Asia' by attending the ASEAN meeting in Laos.</li>
<li>ASEAN is a critical component of SE Asian stability, partnership with the US and should be a united front in protesting Chinese intrusions into the South China Sea.</li>
<li>A high-profile spat with Philippine president Duterte was an unfortunate distraction and an unhelpful development for the Philippines which benefits from strong U.S. support.</li>
<li>Thailand and Malaysia look like the best opportunities in ASEAN in the medium-term.</li>
<li>BUY…</li>
</ul>


Obama continues the 'pivot to Asia' by attending the ASEAN meeting in Laos.
ASEAN is a critical component of SE Asian stability, partnership with the US and should be a united front in protesting Chinese intrusions into the South China Sea.
A high-profile spat with Philippine president Duterte was an unfortunate distraction and an unhelpful development for the Philippines which benefits from strong U.S. support.
Thailand and Malaysia look like the best opportunities in ASEAN in the medium-term.
BUY…


Takeaways from ASEAN - Investment Opportunities

Special Situations, Content Strategist, Smartkarma

Crispin Francis

Special Situations, Content Strategist

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Event-Driven

<p>Early this morning, 6 September 2016, SMRT released the <a href="http://infopub.sgx.com/FileOpen/Scheme%20Document%20dated%206%20Sep%202016.ashx?App=Announcement&amp;FileID=420331" target="_blank">scheme document</a> and <a href="http://infopub.sgx.com/FileOpen/Notice%20of%20Scheme%20Meeting%20dated%206%20Sep%202016.ashx?App=Announcement&amp;FileID=420330" target="_blank">notice of the scheme meeting</a> pursuant to Temasek privatization of SMRT.</p><div class="content-highlight"><p><strong>The scheme meeting will take place at 3.30 pm (SG time) on 29 September 2016. </strong></p></div><p>For the scheme to pass, SMRT will need</p><ol>
<li>75<em>% of votes (Temasek cannot vote); and </em>
</li>
<li><em>Majority in number (Headcount rule)</em></li>
</ol><h2>Key Dates</h2><table class="table table-striped"><tbody>
<tr>
<td><strong>Date</strong></td>
<td><strong>Event</strong></td>
</tr>
<tr>
<td>29 September 2016</td>
<td>Scheme meeting</td>
</tr>
<tr>
<td>14 October 2016</td>
<td>Court hearing to sanction the scheme</td>
</tr>
<tr>
<td>by 1 November 2016</td>
<td>Expected payment date</td>
</tr>
</tbody></table><h2>IFA's Report</h2><p>Rothschild…</p>

Early this morning, 6 September 2016, SMRT released the scheme document and notice of the scheme meeting pursuant to Temasek privatization of SMRT.The scheme meeting will take place at 3.30 pm (SG time) on 29 September 2016. For the scheme to pass, SMRT will need
75% of votes (Temasek cannot vote); and 

Majority in number (Headcount rule)
Key Dates

Date
Event


29 September 2016
Scheme meeting


14 October 2016
Court hearing to sanction the scheme


by 1 November 2016
Expected payment date

IFA's ReportRothschild…

<h2>LTA Announces Details of the Bus Contracting Model</h2><blockquote>
<p>Bus industry to complete transition to bus contracting model on <strong>1 Sept 2016, </strong>the agreement involves <strong>11 bus packages</strong> with estimated total contract fees of <strong>S$5.322 billion for SBS Transit</strong> and S$1.865 billion for SMRT Buses. It added that the sums were reached through negotiations with the operators.</p>
<p>Of the 11 packages, <strong>SBS Transit will operate eight packages with 196 services </strong>while SMRT Buses will operate three packages with 77 services.</p>
<p>The…</p>
</blockquote>

LTA Announces Details of the Bus Contracting Model
Bus industry to complete transition to bus contracting model on 1 Sept 2016, the agreement involves 11 bus packages with estimated total contract fees of S$5.322 billion for SBS Transit and S$1.865 billion for SMRT Buses. It added that the sums were reached through negotiations with the operators.
Of the 11 packages, SBS Transit will operate eight packages with 196 services while SMRT Buses will operate three packages with 77 services.
The…


Singapore

SBS Transit Limited provides public bus services, advertisement on its bus fleet, and bus chartering.

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SBS Transit Ltd (SBUS SP)

Singapore: Traditional Firms Must Disrupt Themselves or The Market Will Do It

There were a couple of news items this week that convinced me that the Singapore government will not protect traditional businesses or...

Valerie Law, CFA

66 HK and SBUS SP: Attack on HK Metro Signals Increases in Transport Operators' Costs

Extending my point about more demanding transportation frameworks going forward (see ComfortDelGro FY16 Results: An Era Where Competition Hits a...

Valerie Law, CFA

Takeaways from ASEAN - Investment Opportunities

Obama continues the 'pivot to Asia' by attending the ASEAN meeting in Laos. ASEAN is a critical component of SE Asian stability, partnership with...

David Riedel

SMRT - Analysis of the Scheme Document

Early this morning, 6 September 2016, SMRT released the scheme document and notice of the scheme meeting pursuant to Temasek privatization of...

Crispin Francis

SBUS - Details of Bus Contracting Model

LTA Announces Details of the Bus Contracting Model Bus industry to complete transition to bus contracting model on 1 Sept 2016, the agreement...

Crispin Francis

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