Daily Brief Industrials: Nws Holdings, Adani Ports & Special Economic Zone, Koentec Co Ltd, Kita Agritech and more

• Accelerating the Offer timetable for NWS (659 HK) such that it closes before the dividend ex-date appeared stingy. But why pay dividends to shareholders that won’t hold the shares anymore?
• Those concerns have been put to rest with the despatch of NWS’ Composite Doc and New World (17 HK)‘s Circular, guaranteeing all shareholders the dividend, no matter the Offer outcome.
• The key risk now is NWD’s independent shareholder vote. On balance, this should get up.

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

1. Shui On Land
2. Seazen (Formerly Future Land)
3. Yuexiu Property
4. China Hongqiao
5. Longfor Properties

and more…

• We are starting a new series called “Asian Dividend Gems.” We plan to write about outstanding companies in Asia with high dividend yields (5% to 20%).
• The first company in this series is Koentec. From 2018 to 2022, its dividend yield averaged 5.2% and its dividend payout averaged 80.8%. The current dividend yield is 7%.
• Koentec is a leading Korean company that provides industrial waste incineration, steam production (utility), and waste landfill services. 

• Philippine startup Kita Agritech has secured US$3 million in an “oversubscribed” seed funding round co-led by Gentree Fund and Altara Ventures.
• Kita plans to use the money to digitalise the agriculture supply chain using big data and AI technologies.
• Kita was launched in 2022 as a supplier of fruits and vegetables for restaurants in Metro Manila. The company supported local farmers by financing their agricultural inputs and directly procuring their goods for distribution to various enterprises, such as hotels, restaurants, and food manufacturers.