Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

United Microelectronics Corp / Event-Driven

<div>
<p>This week in <strong>StubWorld</strong> ...</p>
</div>
<div>
<div class="content-highlight">
<p>A change of pace with RV bifurcations having settled down (somewhat) from a month ago: a quick read through on three "set-ups" flagged in my monitor:<br><a href="https://www.smartkarma.com/entities/iljin-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:11265:1" rel="noopener">Iljin Holdings (015860 KS)</a> / <a href="https://www.smartkarma.com/entities/iljin-diamond-co-ltd" target="_blank" data-smartkarma-citation="entities:10185:1" rel="noopener">Iljin Diamond (081000 KS)</a>;<br><a href="https://www.smartkarma.com/entities/alliance-global-group-inc" target="_blank" data-smartkarma-citation="entities:16224:1" rel="noopener">Alliance Global Group (AGI PM)</a> / <a href="https://www.smartkarma.com/entities/megaworld-corp" target="_blank" data-smartkarma-citation="entities:8746:1" rel="noopener">Megaworld Corp (MEG PM)</a>; &amp;<br><a href="https://www.smartkarma.com/entities/h2o-retailing-corp" target="_blank" data-smartkarma-citation="entities:17562:1" rel="noopener">H2 O Retailing (8242 JP)</a> / <a href="https://www.smartkarma.com/entities/toho-co-ltd" target="_blank" data-smartkarma-citation="entities:7806:1" rel="noopener">Toho Co Ltd (9602 JP)</a>; <br>and three "unwinds": <br><a href="https://www.smartkarma.com/entities/daewoong-co-ltd" target="_blank" data-smartkarma-citation="entities:11523:1" rel="noopener">Daewoong Co Ltd (003090 KS)</a> / <a href="https://www.smartkarma.com/entities/daewoong-pharmaceutical-co" target="_blank" data-smartkarma-citation="entities:3742:1" rel="noopener">Daewoong Pharmaceutical Co (069620 KS)</a>; <br><a href="https://www.smartkarma.com/entities/silicon-integrated-systems" target="_blank" data-smartkarma-citation="entities:7244:1" rel="noopener">Silicon Integrated Systems (2363 TT)</a> / <a href="https://www.smartkarma.com/entities/united-microelectronics-corp" target="_blank" data-smartkarma-citation="entities:6450:1" rel="noopener">United Microelectronics Corp (2303 TT)</a>; &amp; <br><a href="https://www.smartkarma.com/entities/ayala-corporation" target="_blank" data-smartkarma-citation="entities:1474:1" rel="noopener">Ayala Corporation (AC PM)</a> / <a href="https://www.smartkarma.com/entities/ayala-land-inc" target="_blank" data-smartkarma-citation="entities:131:1" rel="noopener">Ayala Land Inc (ALI PM)</a>.</p>
</div>
</div>
<div>
<p>Preceding my comments on the above are the weekly setup/unwind tables for Asia-Pacific Holdcos.</p>
</div>
<div>
<div>
<div class="content-remarks">
<p>These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold - the $ value of the holding/opco held, over the parent’s market capitalisation, expressed in percent - of at least 20%.</p>
</div>
</div>
</div>


This week in StubWorld ...



A change of pace with RV bifurcations having settled down (somewhat) from a month ago: a quick read through on three "set-ups" flagged in my monitor: Iljin Holdings (015860 KS) / Iljin Diamond (081000 KS); Alliance Global Group (AGI PM) / Megaworld Corp (MEG PM); &amp; H2 O Retailing (8242 JP) / Toho Co Ltd (9602 JP);  and three "unwinds":  Daewoong Co Ltd (003090 KS) / Daewoong Pharmaceutical Co (069620 KS);  Silicon Integrated Systems (2363 TT) / United Microelectronics Corp (2303 TT); &amp;  Ayala Corporation (AC PM) / Ayala Land Inc (ALI PM).



Preceding my comments on the above are the weekly setup/unwind tables for Asia-Pacific Holdcos.




These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold - the $ value of the holding/opco held, over the parent’s market capitalisation, expressed in percent - of at least 20%.




StubWorld: Iljin, Alliance Global, H2O/Toho, Daewoong, Silicon Integrated/United Micro, Ayala

<p>This week I briefly look at recent (&amp; ongoing) bifurcations in <a href="https://www.smartkarma.com/entities/359" target="_blank" data-smartkarma-citation="entities:359:1">Japan Post Holdings Co Ltd (6178 JP)</a>, <a href="https://www.smartkarma.com/entities/2402" target="_blank" data-smartkarma-citation="entities:2402:1">Mitsui Engineer &amp; Shipbuild (7003 JP)</a> and <a href="https://www.smartkarma.com/entities/11265" target="_blank" data-smartkarma-citation="entities:11265:1">Iljin Holdings Co Ltd (015860 KS)</a>.</p><p>These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold - the $ value of the holding/opco held, over the parent’s market capitalisation, expressed as a % - of at least 20%.</p><p>A detailed NAV for a number of these parent/holding relationships highlighted can be found in our holdco monitor.</p>

This week I briefly look at recent (&amp; ongoing) bifurcations in Japan Post Holdings Co Ltd (6178 JP), Mitsui Engineer &amp; Shipbuild (7003 JP) and Iljin Holdings Co Ltd (015860 KS).These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold - the $ value of the holding/opco held, over the parent’s market capitalisation, expressed as a % - of at least 20%.A detailed NAV for a number of these parent/holding relationships highlighted can be found in our holdco monitor.

StubWorld - Set-Up & Unwind Extremes: Japan Post, Mitsui Engineer, Iljin Holdings

South Korea

Iljin Diamond Co., Ltd. processes industrial diamonds used in cutting tool.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Iljin Diamond (081000 KS)

StubWorld: Iljin, Alliance Global, H2O/Toho, Daewoong, Silicon Integrated/United Micro, Ayala

This week in StubWorld ... A change of pace with RV bifurcations having settled down (somewhat) from a month ago: a quick read through on three...

David Blennerhassett

StubWorld - Set-Up & Unwind Extremes: Japan Post, Mitsui Engineer, Iljin Holdings

This week I briefly look at recent (& ongoing) bifurcations in Japan Post Holdings Co Ltd (6178 JP), Mitsui Engineer & Shipbuild (7003...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)