Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Jardine Matheson Southeast Asia / Event-Driven

Jardine Matheson Southeast Asia (JCNC SP)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tunas-ridean-tbk-pt" target="_blank" data-smartkarma-citation="entities:3780:1" rel="noopener">Tunas Ridean (TURI IJ)</a> announced a plan to change its status from an open company to a closed company. </li>
<li>In effect, TURI will undertake a buyback of its shares at Rp1,700/share, a lifetime high. Those who do not tender will be left holding unlisted scrip. </li>
<li>
<a href="https://www.smartkarma.com/entities/jardine-cycle-carriage-ltd" target="_blank" data-smartkarma-citation="entities:347:1" rel="noopener">Jardine Cycle &amp; Carriage (JCNC SP)</a> and Tunas Andalan both hold 46.24%, leaving 7.52% in public hands. The proposal requires a shareholder vote. It appears no shareholder needs to abstain. </li>
</ul>



Tunas Ridean (TURI IJ) announced a plan to change its status from an open company to a closed company. 
In effect, TURI will undertake a buyback of its shares at Rp1,700/share, a lifetime high. Those who do not tender will be left holding unlisted scrip. 

Jardine Cycle &amp; Carriage (JCNC SP) and Tunas Andalan both hold 46.24%, leaving 7.52% in public hands. The proposal requires a shareholder vote. It appears no shareholder needs to abstain. 


Tunas Ridean (TURI IJ): JCNC & Tunas Andolan's Quasi Delisting Proposal

This week in StubWorld ...
<ul class="">
<li>For what is essentially a simple single stock Holdco structure, <a href="https://www.smartkarma.com/entities/7615" target="_blank" data-smartkarma-citation="entities:7615:1">Orion Holdings (001800 KS)</a>'s near-on 60% discount to NAV is unjustifiably wide.</li>
<li>
<a href="https://www.smartkarma.com/entities/347" target="_blank" data-smartkarma-citation="entities:347:1">Jardine Cycle &amp; Carriage (JCNC SP)</a> plumbs fresh NAV discount lows, despite signs of a turnaround in stub ops; however, a depreciating Rupiah may play a role.</li>
</ul>
My comments on Orion and JCNC follow the weekly setup/unwind tables.

This week in StubWorld ...

For what is essentially a simple single stock Holdco structure, Orion Holdings (001800 KS)'s near-on 60% discount to NAV is unjustifiably wide.

Jardine Cycle &amp; Carriage (JCNC SP) plumbs fresh NAV discount lows, despite signs of a turnaround in stub ops; however, a depreciating Rupiah may play a role.

My comments on Orion and JCNC follow the weekly setup/unwind tables.

StubWorld: Extreme Bifurcations in Orion Holdings And JCNC

Malaysia

Cycle & Carriage Bintang Berhad assembles, distributes, and retails motor vehicles.  Through its subsidiaries, the Company sells spare parts, provides servicing of vehicles, and operates insurance agents.

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Cycle & Carriage Bintang (CNCB MK)

Tunas Ridean (TURI IJ): JCNC & Tunas Andolan's Quasi Delisting Proposal

This is done for Tunas Ridean - provided JCNC and Tunas Andalan can vote. With payment 23 August, I would be buying around here at Rp 1,560....

David Blennerhassett

StubWorld: Extreme Bifurcations in Orion Holdings And JCNC

This week in StubWorld ... For what is essentially a simple single stock Holdco structure, Orion Holdings (001800 KS)'s near-on 60% discount to...

David Blennerhassett

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