Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>It's a weak stub. And given <a href="https://www.smartkarma.com/entities/inpex-corp" target="_blank" data-smartkarma-citation="entities:20665:1" rel="noopener">Inpex Corp (1605 JP)</a>'s direct upstream ops amid high crude oil prices, I'd be disinclined to short the company here against <a href="https://www.smartkarma.com/entities/japan-petroleum-exploration" target="_blank" data-smartkarma-citation="entities:12219:1" rel="noopener">JAPEX (1662 JP)</a>.</li>
<li>Keswick chips away at <a href="https://www.smartkarma.com/entities/jardine-matheson-holdings-limited" target="_blank" data-smartkarma-citation="entities:19718:1" rel="noopener">Jardine Matheson (JM SP)</a>'s minorities via scrip dividends and buybacks; as JMH completes the  US$2.4bn i-Med acquisition. </li>
<li>
<a href="https://www.smartkarma.com/entities/jardine-matheson-southeast-asia-ltd" target="_blank" data-smartkarma-citation="entities:347:1" rel="noopener">Jardine Matheson Southeast Asia (JCNC SP)</a> (formerly known as Jardine Cycle &amp; Carriage), popped ~10% ahead of the <a href="https://www.smartkarma.com/entities/toyota-motor-corp" target="_blank" data-smartkarma-citation="entities:73:1" rel="noopener">Toyota Motor (7203 JP)</a> in-specie-distribution and special dividend.</li>
</ul>


It's a weak stub. And given Inpex Corp (1605 JP)'s direct upstream ops amid high crude oil prices, I'd be disinclined to short the company here against JAPEX (1662 JP).
Keswick chips away at Jardine Matheson (JM SP)'s minorities via scrip dividends and buybacks; as JMH completes the  US$2.4bn i-Med acquisition. 

Jardine Matheson Southeast Asia (JCNC SP) (formerly known as Jardine Cycle &amp; Carriage), popped ~10% ahead of the Toyota Motor (7203 JP) in-specie-distribution and special dividend.


Last Week In Event SPACE: Inpex, Jardine Matheson, Jardine Matheson Southeast Asia, Genting

<ul>
<li>I tally 30 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below</li>
<li>Four new deal were discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/ofx-group-ltd" target="_blank" data-smartkarma-citation="entities:8376:1" rel="noopener">OFX Group (OFX AU)</a>, <a href="https://www.smartkarma.com/entities/get-nice-holdings-limited" target="_blank" data-smartkarma-citation="entities:16415:1" rel="noopener">Get Nice (64 HK)</a>, <a href="https://www.smartkarma.com/entities/z-fin-limited" target="_blank" data-smartkarma-citation="entities:9999:1" rel="noopener">Z Fin (1168 HK)</a>, and <a href="https://www.smartkarma.com/entities/gabia-inc" target="_blank" data-smartkarma-citation="entities:13535:1" rel="noopener">Gabia Inc (079940 KS)</a>.</li>
<li>Key updates/news also took place on: <a href="https://www.smartkarma.com/entities/kakaku-com-inc" target="_blank" data-smartkarma-citation="entities:7408:1" rel="noopener">Kakaku.com Inc (2371 JP)</a>, <a href="https://www.smartkarma.com/entities/china-shengmu-organic-milk-ltd" target="_blank" data-smartkarma-citation="entities:12714:1" rel="noopener">China Shengmu Organic Milk (1432 HK)</a>, <a href="https://www.smartkarma.com/entities/ajinomoto-co-inc" target="_blank" data-smartkarma-citation="entities:8911:1" rel="noopener">Ajinomoto Co (2802 JP)</a>, and <a href="https://www.smartkarma.com/entities/changhong-jiahua-holdings-ltd" target="_blank" data-smartkarma-citation="entities:5849:1" rel="noopener">Changhong Jiahua (3991 HK)</a>.</li>
</ul>


I tally 30 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below
Four new deal were discussed on Smartkarma this week: OFX Group (OFX AU), Get Nice (64 HK), Z Fin (1168 HK), and Gabia Inc (079940 KS).
Key updates/news also took place on: Kakaku.com Inc (2371 JP), China Shengmu Organic Milk (1432 HK), Ajinomoto Co (2802 JP), and Changhong Jiahua (3991 HK).


Asia-Pac Weekly Wrap: Kakaku.com, OFX, Get Nice, Z Fin, Gabia Inc, China Shengmu, Ajinomoto

<ul>
<li>EQT/DG lifted their Offer Price for <a href="https://www.smartkarma.com/entities/kakaku-com-inc" target="_blank" data-smartkarma-citation="entities:7408:1" rel="noopener">Kakaku.com (2371 JP)</a> to ¥3,450/share. This "obstructs" the Bain/LY deal, slightly, temporarily, but there are nuances within. Expect Bain/LY to come over the top.</li>
<li>
<a href="https://www.smartkarma.com/entities/prosus-nv" target="_blank" data-smartkarma-citation="entities:28104:1" rel="noopener">Prosus NV (PRX NA)</a> is cheap"  vs. <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a>. And <a href="https://www.smartkarma.com/entities/naspers-ltd" target="_blank" data-smartkarma-citation="entities:21085:1" rel="noopener">Naspers (NPN SJ)</a> "rich" to Prosus. Look to long Prosus here, short Tencent here. Or long Prosus, short Naspers</li>
<li>Be comfortable medium-long-term with <a href="https://www.smartkarma.com/entities/mitsui-matsushima-co-ltd" target="_blank" data-smartkarma-citation="entities:13569:1" rel="noopener">Mitsui Matsushima (1518 JP)</a>'s super-cheap asset. And they have niche businesses in semiconductor/tech to spruce things up if people decide they want to run with it.</li>
</ul>


EQT/DG lifted their Offer Price for Kakaku.com (2371 JP) to ¥3,450/share. This "obstructs" the Bain/LY deal, slightly, temporarily, but there are nuances within. Expect Bain/LY to come over the top.

Prosus NV (PRX NA) is cheap"  vs. Tencent (700 HK). And Naspers (NPN SJ) "rich" to Prosus. Look to long Prosus here, short Tencent here. Or long Prosus, short Naspers
Be comfortable medium-long-term with Mitsui Matsushima (1518 JP)'s super-cheap asset. And they have niche businesses in semiconductor/tech to spruce things up if people decide they want to run with it.


Last Week In Event SPACE: Mitsui Matsushima, Prosus/Tencent/Naspers, Legend/Lenovo

Australia

KMD Brands Limited provides clothing and equipment for the travel and adventure market. The Company offers outdoor, lifestyle, and sports apparels and accessories. KMD Brands serves customers worldwide.

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KMD Brands (KMD AU)

Last Week In Event SPACE: Inpex, Jardine Matheson, Jardine Matheson Southeast Asia, Genting

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

Asia-Pac Weekly Wrap: Kakaku.com, OFX, Get Nice, Z Fin, Gabia Inc, China Shengmu, Ajinomoto

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Last Week In Event SPACE: Mitsui Matsushima, Prosus/Tencent/Naspers, Legend/Lenovo

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

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