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

The Week that Was in ASEAN@Smartkarma - A Digitally Enhanced SE Asia, Cement, and Thai Equities

StubWorld: Jardine Cycle & Carriage - Back To MSCI Deletion Levels

StubWorld: Jardine Cycle/Astra, Neowiz Holdings/Games

Astra International (ASII IJ) - An Auto-Recovery Story with a Golden Digital Twist

Astra International (ASII IJ) - Simmering Recovery Afoot

Quiddity Advisors

Event-Driven

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Yesterday, MSCI <a href="https://www.smartkarma.com/insights/The%20changes%20will%20be%20effective%20after%20the%20close%20of%20trading%20on%2030%20November." target="_blank" rel="noopener">announced</a> its November 2020 Semi-Annual Index Review.  As widely anticipated, <a href="https://www.smartkarma.com/entities/jardine-cycle-carriage-ltd" target="_blank" data-smartkarma-citation="entities:347:1" rel="noopener">Jardine Cycle &amp; Carriage (JCNC SP)</a> and <a href="https://www.smartkarma.com/entities/yangzijiang-shipbuilding-holdings-limited" target="_blank" data-smartkarma-citation="entities:660:1" rel="noopener">Yangzijiang Shipbuilding (YZJSGD SP)</a> are shown the exit, reducing the number of index constituents to 19. The changes will be effective after the close of trading on 30 November.
In <a href="https://skr.ma/N64Lw" target="_blank" rel="noopener">MSCI Singapore Index Rebalance Nov20: Shrinking Number of Constituents</a>, <a href="https://www.smartkarma.com/profiles/brian-freitas" target="_blank" data-smartkarma-citation="accounts:4091" rel="noopener">Brian Freitas</a> reckons 8.9 days of ADV to sell of JCNC from passive funds. JCNC is down ~3% today as I type, against +3% for ASII.
I see JCNC's discount to NAV at ~36% against a 12-month average of ~17%, having recently moved off its all-time low of ~38%.
As JCNC is all-but a proxy into Astra, this appears a straight-forward mean reversion play. 
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More below the fold.


Yesterday, MSCI announced its November 2020 Semi-Annual Index Review.  As widely anticipated, Jardine Cycle &amp; Carriage (JCNC SP) and Yangzijiang Shipbuilding (YZJSGD SP) are shown the exit, reducing the number of index constituents to 19. The changes will be effective after the close of trading on 30 November.
In MSCI Singapore Index Rebalance Nov20: Shrinking Number of Constituents, Brian Freitas reckons 8.9 days of ADV to sell of JCNC from passive funds. JCNC is down ~3% today as I type, against +3% for ASII.
I see JCNC's discount to NAV at ~36% against a 12-month average of ~17%, having recently moved off its all-time low of ~38%.
As JCNC is all-but a proxy into Astra, this appears a straight-forward mean reversion play. 

More below the fold.

Jardine Cycle & Carriage: "Buy The Fact" On MSCI Deletion