Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

SBI Launches Opportunistic, Unfair Offer for Shinsei (8303) And Shinsei Board Drops the Ball

Shinsei's TOB Period Almost Done - What Next?

SBI Shinsei Bank (8303) Calls Its EGM and Appraisal Rights Seekers Prepare for Battle

SBI Obtains Approval - Has Plan To Buy 0.965% of Shinsei - It Isn't Strategic, It's Technical

Shinsei Bank (8303 JP) - Reading Between The Lines

2023 High Conviction - SBI Shinsei Bank (8303 JP) - Still Reading Between the Lines

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Quiddity Advisors

Event-Driven

<ul>
<li>A year ago, <a href="https://www.smartkarma.com/entities/sbi-shinsei-bank-ltd" target="_blank" data-smartkarma-citation="entities:16897:1" rel="noopener">SBI Shinsei Bank (8303 JP)</a>'s new MTMP was to get from ¥35bn profit in FY22 to ¥70bn in FY24 including ¥55bn of organic profit, ¥15bn of synergies.</li>
<li>On Friday, SBI Shinsei announced FY22 would be ¥42bn instead of ¥35bn, despite higher interest rates. More aggressive lending and gains in subs were credited. </li>
<li>The MTMP calls for ¥70bn Profit in Mar-25 - ¥341 EPS so Friday's close x 7.1x. The big picture takeout scenario remains intact and Real World Float is still small. </li>
</ul>


A year ago, SBI Shinsei Bank (8303 JP)'s new MTMP was to get from ¥35bn profit in FY22 to ¥70bn in FY24 including ¥55bn of organic profit, ¥15bn of synergies.
On Friday, SBI Shinsei announced FY22 would be ¥42bn instead of ¥35bn, despite higher interest rates. More aggressive lending and gains in subs were credited. 
The MTMP calls for ¥70bn Profit in Mar-25 - ¥341 EPS so Friday's close x 7.1x. The big picture takeout scenario remains intact and Real World Float is still small. 


2023 High Conviction Update - Shinsei Revises Up Profit Forecast - Now Ahead of Plan