Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

CMCDI (133 HK): Kan Re-Elected. But Only Just

CMCDI (133 HK)'s Proposals Light On Detail

CMCDI (133 HK): Buybacks And Management Fees Into Focus

Quiddity Advisors

Equity Bottom-Up

China Merchants China Direct Investments / Equity Bottom-Up

China Merchants China Direct Investments (133 HK)

<ul>
<li>On the <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0927/2024092701187.pdf" target="_blank" rel="noopener">27th September</a>, <strong><a href="https://www.smartkarma.com/entities/china-merchants-china-direct-investments" target="_blank" data-smartkarma-citation="entities:6862:1" rel="noopener">China Merchants China Direct Investments (133 HK)</a></strong> (CMCDI) teased a share buyback and a special dividend. But as of today. no firm details have been forthcoming. </li>
<li>CMCDI has also now offered to reduce management fees by 25 basis points in the new management agreement, which will be voted on  by independent shareholders in November/December.</li>
<li>This concession does not go far enough. Especially when 45% of the management fees are received by founder Victor Chu. </li>
</ul>


On the 27th September, China Merchants China Direct Investments (133 HK) (CMCDI) teased a share buyback and a special dividend. But as of today. no firm details have been forthcoming. 
CMCDI has also now offered to reduce management fees by 25 basis points in the new management agreement, which will be voted on  by independent shareholders in November/December.
This concession does not go far enough. Especially when 45% of the management fees are received by founder Victor Chu. 


CMCDI (133 HK): Concessions Don't Go Far Enough