Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

YFO To Take the Fight To Toyo Construction's Board

Toyo Construction (1890) Plays Offence - A New Mid-Term Mgmt Plan with High Shareholder Payout

Toyo Construction (1890) Tries a Different Tactic - FEFTA!

Toyo Construction (1890) - Creeping Up On The Next "Tender Offer Start Date"..... Uh.... Maybe

Toyo Construction (1890 JP) - There's Nuance in Them Thar Press Releases

Toyo (1890) Says "We Reject". YFO Says "But We Didn't Talk". Medium-🌶🌶🌶 Hostile Activism To Ensue

Quiddity Advisors

Event-Driven

<ul>
<li>On 13 December, <a href="https://www.smartkarma.com/entities/toyo-construction-co-ltd" target="_blank" data-smartkarma-citation="entities:1176:1" rel="noopener">Toyo Construction (1890 JP)</a> suitor YFO issued a press release which was not to the liking of Toyo Construction. A day later, Toyo Construction offered its <a href="https://www.toyo-const.co.jp/wp/wp-content/uploads/2022/12/20221214.pdf" target="_blank" rel="noopener">own</a>.</li>
<li>YFO responded on the 21st, saying ToyoKen's PR was inaccurate. Not quite a week after that, ToyoKen announced one tiny subsidiary(<a href="http://www.tecos.co.jp/" target="_blank" rel="noopener">Tecos</a>) would absorb another (portable toilet rental co <a href="https://www.orieco.co.jp/company" target="_blank" rel="noopener">Orient Ecology</a>).</li>
<li>Synergies? None. Growth? None. Scale? Nope. Was this for some other reason investors need to worry about? Maybe.</li>
</ul>


On 13 December, Toyo Construction (1890 JP) suitor YFO issued a press release which was not to the liking of Toyo Construction. A day later, Toyo Construction offered its own.
YFO responded on the 21st, saying ToyoKen's PR was inaccurate. Not quite a week after that, ToyoKen announced one tiny subsidiary(Tecos) would absorb another (portable toilet rental co Orient Ecology).
Synergies? None. Growth? None. Scale? Nope. Was this for some other reason investors need to worry about? Maybe.


Toyo Construction (1890) Investors/Traders Beware