Offering Senior Secured Loans, Kilde

Kilde

Offering Senior Secured Loans

Kilde connects family offices, funds, and accredited investors to investment-ready private credit deals in developed and emerging markets. We offer senior secured loans from last-mile lending companies with strong capitalization, a healthy balance sheet, and a capable management team.

Equity Bottom-Up

Bund Center Investment / Equity Bottom-Up

<ul>
<li>Bund Center Investment Ltd (BCI) is a Singapore-listed investment holding company primarily engaged in property investment.</li>
<li>Its key revenue-generating assets include the Bund Center Office Tower and The Westin Bund Center Hotel, both located in central Shanghai, China.</li>
<li>The company derives most of its income from office leasing and hotel operations, making it heavily reliant on China’s commercial property and tourism sectors.</li>
</ul>


Bund Center Investment Ltd (BCI) is a Singapore-listed investment holding company primarily engaged in property investment.
Its key revenue-generating assets include the Bund Center Office Tower and The Westin Bund Center Hotel, both located in central Shanghai, China.
The company derives most of its income from office leasing and hotel operations, making it heavily reliant on China’s commercial property and tourism sectors.


Bund Center Investment Ltd (SGX: BTE): Hotel Segment Helps Offset Slowdown in Office Business

<ul>
<li>Bund Center Investment (BCI) is a diversified investment vehicle with two commercial real estate assets: the landmark Westin Bund Center Hotel, and its premium office space, Bund Center Office Tower in Shanghai.</li>
<li>BCI operates under two business segments: Hotel Operations and Property Leasing.</li>
<li>Despite short-term hurdles, long-term economic growth in China provides a supportive backdrop.</li>
</ul>


Bund Center Investment (BCI) is a diversified investment vehicle with two commercial real estate assets: the landmark Westin Bund Center Hotel, and its premium office space, Bund Center Office Tower in Shanghai.
BCI operates under two business segments: Hotel Operations and Property Leasing.
Despite short-term hurdles, long-term economic growth in China provides a supportive backdrop.


Bund Center Investment (BTE SP): A Dominant Real Estate Play on the Bund

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.

Event-Driven

<ul>
<li>The Ong directors tried every trick in the book to derail the <a href="https://www.smartkarma.com/entities/hwa-hong-corp-ltd" target="_blank" data-smartkarma-citation="entities:6648:1" rel="noopener">Hwa Hong Corp (HWAH SP)</a> offer. The trump card was hiring Evercore to attract competing offers by 25 July.</li>
<li>The Board confirmed today that there are no competing offers. This is a catalyst for shareholders sitting on the fence to accept the S$0.40 per share offer.</li>
<li>The offer closes on 1 August. While meeting the 50%+ minimum acceptance condition will be a close-run, we think it will be met. The gross spread is 5.3%.     </li>
</ul>


The Ong directors tried every trick in the book to derail the Hwa Hong Corp (HWAH SP) offer. The trump card was hiring Evercore to attract competing offers by 25 July.
The Board confirmed today that there are no competing offers. This is a catalyst for shareholders sitting on the fence to accept the S$0.40 per share offer.
The offer closes on 1 August. While meeting the 50%+ minimum acceptance condition will be a close-run, we think it will be met. The gross spread is 5.3%.     


<ul>
<li>The IFA considers the S$0.40 per share offer for <a href="https://www.smartkarma.com/entities/hwa-hong-corp-ltd" target="_blank" data-smartkarma-citation="entities:6648:1" rel="noopener">Hwa Hong Corp (HWAH SP)</a> to be fair and reasonable. Consequently, the recommending directors recommend that shareholders accept the offer.  </li>
<li>The offer which closes on 28 June continues to be subject to a 50%+ minimum acceptance condition. The offeror including valid acceptances represents 24.86% of outstanding shares.</li>
<li>Ong directors/families (29.26% stake) will not accept the offer hoping for an increasingly unlikely superior proposal. The shares are trading tight to terms (1.3% gross spread).</li>
</ul>


The IFA considers the S$0.40 per share offer for Hwa Hong Corp (HWAH SP) to be fair and reasonable. Consequently, the recommending directors recommend that shareholders accept the offer.  
The offer which closes on 28 June continues to be subject to a 50%+ minimum acceptance condition. The offeror including valid acceptances represents 24.86% of outstanding shares.
Ong directors/families (29.26% stake) will not accept the offer hoping for an increasingly unlikely superior proposal. The shares are trading tight to terms (1.3% gross spread).


Hwa Hong’s Directors Recommend Accepting the S$0.40 Voluntary Conditional Offer

Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Thematic (Sector/Industry)

<p>The end of the year is always a good time for reflection on how your investment ideas have panned out. In this note, I will review all my picks, visit notes and other articles that I have written since February when I joined SmartKarma as an insight provider.</p><p>Since investment ideas don't follow a calendar many of my better ideas in 2017 still look good going into 2018.</p>

The end of the year is always a good time for reflection on how your investment ideas have panned out. In this note, I will review all my picks, visit notes and other articles that I have written since February when I joined SmartKarma as an insight provider.Since investment ideas don't follow a calendar many of my better ideas in 2017 still look good going into 2018.

Overview of My Winners and Losers in 2017...and 5 High Conviction Ideas Going into 2018

Singapore

Bund Center Investment, Ltd. invests in commercial property in China. The Company owns office buildings, hotels, and retail malls.

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Bund Center Investment (BCI SP)

Bund Center Investment Ltd (SGX: BTE): Hotel Segment Helps Offset Slowdown in Office Business

Bund Center Investment Ltd (BCI) is a Singapore-listed investment holding company primarily engaged in property investment. Its key...

Kilde

Bund Center Investment (BTE SP): A Dominant Real Estate Play on the Bund

Bund Center Investment (BCI) is a diversified investment vehicle with two commercial real estate assets: the landmark Westin Bund Center Hotel,...

Kilde

Hwa Hong Confirms No Competing Offers

It will be close but we think the offer meets the 50%+ minimum acceptance condition. The offer lapses at 5:30 pm on 1 August. At the last close,...

Arun George

Overview of My Winners and Losers in 2017...and 5 High Conviction Ideas Going into 2018

The end of the year is always a good time for reflection on how your investment ideas have panned out. In this note, I will review all my picks,...

Nicolas Van Broekhoven

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Bund Center Investment Ltd (SGX: BTE): Hotel Segment Helps Offset Slowdown in Office Business

Bund Center Investment Ltd (BCI) is a Singapore-listed investment holding company primarily engaged in property investment. Its key...

Kilde

Bund Center Investment (BTE SP): A Dominant Real Estate Play on the Bund

Bund Center Investment (BCI) is a diversified investment vehicle with two commercial real estate assets: the landmark Westin Bund Center Hotel,...

Kilde

Hwa Hong Confirms No Competing Offers

It will be close but we think the offer meets the 50%+ minimum acceptance condition. The offer lapses at 5:30 pm on 1 August. At the last close,...

Arun George

Hwa Hong’s Directors Recommend Accepting the S$0.40 Voluntary Conditional Offer

We think that the offer will meet the 50%+ minimum acceptance condition. At the last close, the gross spread to the offer is 1.3%.

Arun George

Overview of My Winners and Losers in 2017...and 5 High Conviction Ideas Going into 2018

The end of the year is always a good time for reflection on how your investment ideas have panned out. In this note, I will review all my picks,...

Nicolas Van Broekhoven