In today’s briefing:
- Ausnutria’s Offer Gets Up. But Only Just
- Sony – EV Partnership Is Excellent for Sony but Highlights Honda’s Struggles
- Minth (425): Margin Contraction
- Matahari Department Store (LPPF IJ) – Awaiting for stronger Lebaran in 2Q22F
Ausnutria’s Offer Gets Up. But Only Just
- 52.7%. The only number that matters. That satisfied the acceptance condition to the mandatory conditional cash Offer. But it was a close-run thing.
- The Offer is now unconditional and will remain open for acceptance until the 17 March.
- Yili has no intention to privatise Ausnutria Dairy Corp (1717 HK) and intends to maintain its listing following the close of the Offer.
Sony – EV Partnership Is Excellent for Sony but Highlights Honda’s Struggles
- Sony and Honda announced today they would form a strategic alliance in the mobility field.
- Honda will be responsible for manufacturing and after sales while Sony will handle imaging, sensing, telecommunication, network and entertainment technologies.
- This helps Sony maintain its asset light model and is also positive for Honda but we do feel that it makes Honda look a little lost in the changing world.
Minth (425): Margin Contraction
- Aluminum is Minth Group Ltd (425 HK) biggest raw material.
- The war that spiked the commodity price does not show any sign of ending soon therefore margin contraction is expected.
- Get out or short it if you are a hedgehog.
Matahari Department Store (LPPF IJ) – Awaiting for stronger Lebaran in 2Q22F
Awaiting for stronger Lebaran in 2Q22F
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