HK/China Equity Long-Short

Osbert Tang, CFA

Osbert Tang is an equity analyst with over 20 years of experience with focuses on China transport, infrastructure, industrials and utilities sectors. He has been based in Shanghai since 2003, accumulated nearly 20 years of on-ground knowledge on the Chinese economy and financial markets, and has a wealth of contacts with China corporates and government entities. 

Osbert has received votes from top-tier institutional investors and has been a highly-ranked transport and infrastructure analyst in the Asiamoney, Institutional Investors and Greenwich surveys. In addition to his extensive experience with international investment banks including RBS, ABN AMRO (both served as Shanghai Chief Representative), Paribas Asia Equity, Maybank Kim Eng and DBS Securities, he has been a senior analyst with Moody’s Investors Service with focus on ratings of China infrastructure and related LGFV issuers. He has also worked in the area of strategic development at Sun Hung Kai Properties Limited. 

Osbert holds a BBA from the Chinese University of Hong Kong, an MBA from the University of Texas at Austin and a MSSc in Applied Psychology from the City University of Hong Kong. He was accredited with the CFA charter in 1997, and is a member of both British Psychological Society and Hong Kong Psychological Society.

Hong Kong Port Sector: Impact of US Removing Preferential Customs Treatment

China Port Pair Opportunity: COSCO Shipping Ports Vs. China Merchants Port

China Merchants (144 HK): What A Privatisation May Look Like

China Merchants Port (144 HK): Attractive Stub Value Ex-SIPG (600018 CH)

StubWorld: The Rising Tide As China Merchants Port Recovers

StubWorld: China Conch's Fully Priced Rump

Equity Bottom-Up

<p>Share price of <a href="https://www.smartkarma.com/entities/china-merchants-port-holdings-company-ltd" target="_blank" data-smartkarma-citation="entities:15155:1" rel="noopener">China Merchants Port (144 HK)</a> (CMPH) popped 23% today on the back of various media reports on its potential privatisation by ultimate parent China Merchants Group (CMG). This Insight adds to an earlier one by <a href="https://www.smartkarma.com/profiles/david-blennerhassett" target="_blank" data-smartkarma-citation="accounts:840" rel="noopener">David Blennerhassett,</a> offering some additional perspectives on the possibility of a privatisation.</p><p>In our view, a privatisation of CMPH is still a 50:50 scenario as there are other strategic angles that CMG may need to consider in addition to the depressed valuation.  Nonetheless, such speculation will be supporting CMPH's share price in the near term.</p>

Share price of China Merchants Port (144 HK) (CMPH) popped 23% today on the back of various media reports on its potential privatisation by ultimate parent China Merchants Group (CMG). This Insight adds to an earlier one by David Blennerhassett, offering some additional perspectives on the possibility of a privatisation.In our view, a privatisation of CMPH is still a 50:50 scenario as there are other strategic angles that CMG may need to consider in addition to the depressed valuation.  Nonetheless, such speculation will be supporting CMPH's share price in the near term.

Shanghai International Port Group (600018 CH)

China Merchants Port (144 HK): Privatisation on the Cards?