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

StubWorld: YTL Is Coming Up Cheap; Li Buys More PCCW

StubWorld: Rumoured Interest In PCCW's Fibre

StubWorld: PCCW's Premium To NAV Is Unsustainable

Quiddity Advisors

Event-Driven

<ul>
<li>Net of <strong><a href="https://www.smartkarma.com/entities/hkt-ltd" target="_blank" data-smartkarma-citation="entities:874:1" rel="noopener">HKT Ltd (6823 HK)</a></strong>, <strong><a href="https://www.smartkarma.com/entities/pccw-ltd" target="_blank" data-smartkarma-citation="entities:873:1" rel="noopener">PCCW Ltd (8 HK)</a></strong> recorded negative EBITDA of HK$378mn in the 1H23.</li>
<li>This is the largest six-month negative EBITDA figure since the EBITDA loss of HK$427mn in 2H22, and the third largest in the past decade. </li>
<li>PCCWs current discount to NAV is at an unsustainable 5%.</li>
</ul>


Net of HKT Ltd (6823 HK), PCCW Ltd (8 HK) recorded negative EBITDA of HK$378mn in the 1H23.
This is the largest six-month negative EBITDA figure since the EBITDA loss of HK$427mn in 2H22, and the third largest in the past decade. 
PCCWs current discount to NAV is at an unsustainable 5%.


PCCW Ltd

PCCW's Stub Ops Spill More Red Ink