Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Regal Real Estate Investment Trust / Event-Driven

Regal Real Estate Investment Trust (1881 HK)

<ul>
<li>
<strong><a href="https://www.smartkarma.com/entities/regal-real-estate-investment-trust" target="_blank" data-smartkarma-citation="entities:17968:1" rel="noopener">Regal REIT (1881 HK)</a></strong> has announced it will sell the Regal Oriental Hotel in Kowloon City to Blue Sky Properties (owned by Centaline) for HK$1.51bn (gross proceeds).  </li>
<li>Centaline intends to convert the hotel into a student hostel once the necessary government approvals have been satisfied.</li>
<li>Even with a haircut to book - ~0.8x P/B by my calcs - this sale is a win for Regal REIT, currently trading at 0.1x P/B.</li>
</ul>



Regal REIT (1881 HK) has announced it will sell the Regal Oriental Hotel in Kowloon City to Blue Sky Properties (owned by Centaline) for HK$1.51bn (gross proceeds).  
Centaline intends to convert the hotel into a student hostel once the necessary government approvals have been satisfied.
Even with a haircut to book - ~0.8x P/B by my calcs - this sale is a win for Regal REIT, currently trading at 0.1x P/B.


Regal REIT (1881 HK) Is Dirt Cheap At 0.1x P/B. Sells Asset At 0.8x P/B.

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Langham Hospitality Investments / Event-Driven

Langham Hospitality Investments (1270 HK)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/langham-hospitality-inv-ss" target="_blank" data-smartkarma-citation="entities:760:1" rel="noopener">Langham Hospitality Inv Ss (1270 HK)</a> received a notice from <a href="https://www.smartkarma.com/entities/great-eagle-holdings-ltd" target="_blank" data-smartkarma-citation="entities:758:1" rel="noopener">Great Eagle Holdings (41 HK)</a>, the largest unitholder, that it intends to present a detailed proposal for scheme privatisation.</li>
<li>The privatisation interest is unsurprising, as the unit price has declined by 43% over the last twelve months. A tough 2023 did not help the declining sentiment.</li>
<li>Our methodology for triangulating the potential offer price results in a range of HK$0.63-1.76. Our best guess is an offer of around HK$0.85, a 47% premium to the last close.</li>
</ul>



Langham Hospitality Inv Ss (1270 HK) received a notice from Great Eagle Holdings (41 HK), the largest unitholder, that it intends to present a detailed proposal for scheme privatisation.
The privatisation interest is unsurprising, as the unit price has declined by 43% over the last twelve months. A tough 2023 did not help the declining sentiment.
Our methodology for triangulating the potential offer price results in a range of HK$0.63-1.76. Our best guess is an offer of around HK$0.85, a 47% premium to the last close.


Langham Hospitality Investments (1270 HK): Great Eagle (41 HK)’s Possible Scheme Privatisation

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Thematic (Sector/Industry)

<ul><li>Australia Post is undertaking a major $276 million sale-and-leaseback deal for seven warehouses.</li><li>Microsoft plans to invest $10 billion in data centers and real estate in Japan and APAC region.</li><li>These transactions reflect significant movements in the APAC real estate market as of April 6, 2026.</li></ul>

Australia Post is undertaking a major $276 million sale-and-leaseback deal for seven warehouses.Microsoft plans to invest $10 billion in data centers and real estate in Japan and APAC region.These transactions reflect significant movements in the APAC real estate market as of April 6, 2026.

Asia Real Estate Tracker (07-Apr-2026): Australia Post markets seven warehouses in $276M deal.

<ul>
<li>When property advisors (JLL, Knight Frank, CBRE etc) debate the bottom of Hong Kong's office/retail market, such commentary is often infused with cautious optimism. </li>
<li>And for good reason, as vacancies increase, and rents soften.</li>
<li>Recent press articles and anecdotal evidence suggests market uncertainty lingers, prompting  landlords to (further) assess their stance on rents.</li>
</ul>


When property advisors (JLL, Knight Frank, CBRE etc) debate the bottom of Hong Kong's office/retail market, such commentary is often infused with cautious optimism. 
And for good reason, as vacancies increase, and rents soften.
Recent press articles and anecdotal evidence suggests market uncertainty lingers, prompting  landlords to (further) assess their stance on rents.


Hong Kong Property: In Need Of A Good Story

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>2023 gameplan remains unchanged; we see limited upside from here for ACWI-US, and we expect a rangebound year of trading on ACWI-US with $93 capping upside and $75-77 capping downside</li>
<li>We also remain overweight Europe/UK, we want to add exposure on pullbacks to China/Hong Kong/EM, and overweight non-U.S. equities (MSCI ACWI ex-US) relative to MSCI ACWI</li>
<li>We highlight buy ideas within Technology, Communications, and Consumer Discretionary. The UK/Europe and Hong Kong/China continue to make up the majority of our buy recommendations</li>
</ul>


2023 gameplan remains unchanged; we see limited upside from here for ACWI-US, and we expect a rangebound year of trading on ACWI-US with $93 capping upside and $75-77 capping downside
We also remain overweight Europe/UK, we want to add exposure on pullbacks to China/Hong Kong/EM, and overweight non-U.S. equities (MSCI ACWI ex-US) relative to MSCI ACWI
We highlight buy ideas within Technology, Communications, and Consumer Discretionary. The UK/Europe and Hong Kong/China continue to make up the majority of our buy recommendations


Major Top on U.S. Dollar; Overweight Non-U.S. And Europe/UK; Buys in Tech, Comm., Discretionary

Hong Kong

Great Eagle is a leading property and hotel developer that invests in, develops, leases, and manages residential, office, industrial, and hotel properties globally. The company owns and operates hotels under The Langham, Cordis, and Eaton brands, and manages real estate investment trusts. Great Eagle was founded in 1963 and is headquartered in Hong Kong.

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Great Eagle (41 HK)

Regal REIT (1881 HK) Is Dirt Cheap At 0.1x P/B. Sells Asset At 0.8x P/B.

Liquidity is a major issue. Given the bombed out P/Bs, now seems an opportune time for Lo Yuk-sui to privatise companies up & down the vertical...

David Blennerhassett

Langham Hospitality Investments (1270 HK): Great Eagle (41 HK)’s Possible Scheme Privatisation

Our methodology for triangulating the potential offer price results in a range of HK$0.63-1.76. Our best guess is an offer of around HK$0.85, a 47%...

Arun George

Asia Real Estate Tracker (07-Apr-2026): Australia Post markets seven warehouses in $276M deal.

Australia Post is selling and leasing back seven warehouses for $276 million, while Microsoft plans a $10 billion investment in data centers across...

Asia Real Estate Tracker

Hong Kong Property: In Need Of A Good Story

Upgrading and flight-to-quality in the office space has the affect of lifting occupancy in new projects; however such activity largely foreshadows...

David Blennerhassett

Major Top on U.S. Dollar; Overweight Non-U.S. And Europe/UK; Buys in Tech, Comm., Discretionary

The $DXY broke below 5-year support at $103, signaling a major top in place. This is bullish for risk assets, and is another sign suggesting the...

Vermilion Research

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