Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Equity Analyst with experience in fundamental and event-driven research in Frontier and Emerging markets. 

On Smartkarma, I mainly publish insights on index flow events in the Asia-Pacific region. This includes predicting regular and intra-review index changes and estimating upcoming passive flows. I also cover special situations such as mergers & acquisitions, equity offerings, buybacks, and other corporate restructuring events.

Pan-Asia Index Flows & Special Situations

Scientex - Daibochi: Unconditional Voluntary Take-Over Offer

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

Chemical Company of Malaysia / Event-Driven

Malaysia-based manufacturer of chemicals and rubber products <a href="https://www.smartkarma.com/entities/batu-kawan-bhd" target="_blank" data-smartkarma-citation="entities:8276:1" rel="noopener">Batu Kawan Bhd (BAK MK)</a> (below shown as either "BAK" or "BKB", interchangeably) agreed to acquire 56.32% of smaller local peer <a href="https://www.smartkarma.com/entities/chemical-company-of-malaysia-berhad" target="_blank" data-smartkarma-citation="entities:1452:1" rel="noopener">Chemical Company of Malaysia (CCM MK)</a> from major shareholders PNB and Amanah Saham. This triggered the requirement to launch a Mandatory Offer for the remaining shareholders at the same price: RM3.10 per CCM share in cash. This acquisition is expected to widen BAK's presence in the chemical manufacturing business.  CCM's product portfolio includes polymer chemicals and calcium nitrate (which is used for latex coagulation - from liquid to solid state) which are primarily supplied to the glove manufacturing industry. The Deal values the Target company at a market cap of RM520mn (~US120mn). CCM's shares closed at RM2.99 today. More below the fold. <hr>For more information about M&amp;A rules, regulations, and practices in Malaysia, please refer to <a href="https://www.smartkarma.com/insights/quiddity-malaysia-m-a-guide-2019" target="_blank" data-smartkarma-citation="insights:30129" rel="noopener">Quiddity Malaysia M&amp;A Guide 2019</a>

Malaysia-based manufacturer of chemicals and rubber products Batu Kawan Bhd (BAK MK) (below shown as either "BAK" or "BKB", interchangeably) agreed to acquire 56.32% of smaller local peer Chemical Company of Malaysia (CCM MK) from major shareholders PNB and Amanah Saham. This triggered the requirement to launch a Mandatory Offer for the remaining shareholders at the same price: RM3.10 per CCM share in cash. This acquisition is expected to widen BAK's presence in the chemical manufacturing business.  CCM's product portfolio includes polymer chemicals and calcium nitrate (which is used for latex coagulation - from liquid to solid state) which are primarily supplied to the glove manufacturing industry. The Deal values the Target company at a market cap of RM520mn (~US120mn). CCM's shares closed at RM2.99 today. More below the fold. For more information about M&amp;A rules, regulations, and practices in Malaysia, please refer to Quiddity Malaysia M&amp;A Guide 2019 

Batu Kawan (BAK MK)'s Mandatory Offer for CCM: Low Risk Risk Arb