bearish
Jardines Bumps JCNC Stake Post MSCI Deletion
830 Views05 Jun 2024 12:22
JCNC's premium to NAV is not justifiable. I'd still look to reverse the stub here - Short JCNC, Long Astra. I understand borrow in JCNC is not tight.
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- Market Reaction
- Matheson's Moves
- Valuation Concerns
- Regulatory Framework
Boomeranged on Fri, 28 Jun 2024 13:25
Jardine Matheson clears 83% in JCNC, up from ~78% at the beginning of the year. I see JCNC's NAV PREMIUM at 17%, down from a recent high of 29%. Indonesia is potentially getting dumped by LOs because of the perceived higher political risk associated with the new president, and his past. And Astra, absent an "attractive" angle, just derates with Indonesia and also against the Indo benchmark.
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- Jardine Cycle & Carriage Is A Short22 Apr 2024
- JCNC's Logic-Defying Valuation06 Apr 2023
- JCNC Is Still Overstretched Vs. Astra09 Dec 2022
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