Daily Brief Financials: Haitong Securities Co Ltd (H), Kina Securities Ltd, Ouch!, Ohmyhome , Peakstone Realty Trust and more

• A month after China’s leading state-backed brokerages, Guotai Junan Securities (2611 HK) and Haitong Securities (H) (6837 HK), announced an intention to merge, we have a firm deal. 
• Via a share swap, each Haitong H share may be exchanged for 0.62 H shares of GJS. A similar ratio is in place for the As. Cash options are afforded
• Conditions include GJS and Haitong shareholder approval; plus the usual suspects on the regulatory front. The key risk, as with TCM (570 HK)‘s Offer, is one of timing.

For our next Corporate Webinar, we are glad to welcome Kina Bank’s executive management to Smartkarma. In the upcoming webinar, they will share a short company presentation after which, they will engage in a fireside chat with Smartkarma Insight Provider, Daniel Tabbush. The Corporate Webinar will include a live Q&A session.

The Corporate Webinar will be hosted on Tuesday, 15 October 2024, 17:00 SGT.

About Kina Bank

Kina Securities Limited (Kina Bank) was established in 1985 and is now Papua New Guinea’s second largest bank and financial services company.  It offers customers end-to-end financial solutions – from savings accounts to business loans, investments to mortgages, financial advice and investment management. It is also the largest wealth management business in PNG, with more than PGK8 billion funds under management. As the country’s largest fund administrator, it administers accounts on behalf of more than 850,000 beneficiaries whose funds total almost PGK14 billion. Kina Bank is also the leading stockbroking company in PNG. 

• Ouch!, a Malaysia-based next-gen, tech-enabled insurance platform, has raised RM5 million (US$1.2 million) in strategic funding from PPB Ventures.
• The startup will invest the money to expand its market share, enhance technology infrastructure, and drive product innovation.
• Separately, Ouch! has received an additional one-year extension to operate under Bank Negara Malaysia’s (BNM) Regulatory Sandbox. It is now working to secure a DITO licence from BNM, which would enable it to close critical protection gaps for Malaysians, especially young families.

• On higher revenue & cost constraint initiatives, the company’s 1H 2024 EBITDA loss margin narrowed compared to 1H 2023 and OMH expects 2H24 cost containment measures, anticipated revenue growth – supported by a higher total value of contracts signed in 3Q24 – to drive further margin improvement.
• As a result, OMH anticipates further reduction in EBITDA loss in 2H 2024 as it maintains measures to optimize its cost structure and operational efficiency.

• Peakstone Realty Trust (PKST) is a undervalued net lease REIT with high dividend yield of 8.5% and low payout ratio of 39%
• PKST has ample free cash flow, minimal debt maturities, and stable tenant roster, reducing pressure on management
• PKST’s portfolio consists of high-quality properties, with 43% serving as headquarters locations, presenting a potentially lucrative investment opportunity

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.