In today’s briefing:
- StubWorld: PCCW’s Premium To NAV Is Unsustainable
- Alpha Generating Opportunities from the Corporate Value Up Disclosures on the KIND System
StubWorld: PCCW’s Premium To NAV Is Unsustainable
- Continued stub losses are one thing. Ballooning PCCW Ltd (8 HK) parent debt is another.
- Preceding my comments on PCCW and HKT Ltd (6823 HK) are the current setup/unwind tables for Asia-Pacific Holdcos.
- .These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation >20%.
Alpha Generating Opportunities from the Corporate Value Up Disclosures on the KIND System
- One of the key takeaways of the Corporate Value Up disclosures on the KIND system is that it could potentially lead to alpha generating investing opportunities.
- Since the last week of May, there have been 7 companies that provided specific Corporate Value up programs; (4 major financials) have outperformed KOSPI.
- Companies such as KB Financial and Shinhan Financial that provide more meaningful Corporate Value Up action plans are likely to have greater impact on their share prices.
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