Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

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

Equity Bottom-Up

<ul>
<li>The share price of <a href="https://www.smartkarma.com/entities/mtr-corp" target="_blank" data-smartkarma-citation="entities:13289:1" rel="noopener">MTR Corp (66 HK)</a> has not moved and lagged behind other transport operators in Asia.</li>
<li>High-Frequency numbers from the company has shown improvement and signs that the Chinese tourists are gradually returning.</li>
<li>The reopening of the checking in facility in downtown Hong Kong is another sign that more tourists are expected to come. </li>
</ul>


The share price of MTR Corp (66 HK) has not moved and lagged behind other transport operators in Asia.
High-Frequency numbers from the company has shown improvement and signs that the Chinese tourists are gradually returning.
The reopening of the checking in facility in downtown Hong Kong is another sign that more tourists are expected to come. 


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>
<a href="https://www.smartkarma.com/entities/a2b-australia-ltd" target="_blank" data-smartkarma-citation="entities:16558:1" rel="noopener">A2B Australia (A2B AU)</a> has entered a scheme implementation deed with <a href="https://www.smartkarma.com/entities/comfortdelgro-corp-ltd" target="_blank" data-smartkarma-citation="entities:497:1" rel="noopener">Comfortdelgro Corp (CD SP)</a> at A$1.45 per share. Including the special dividend of A$0.60, the total offer is A$2.05.</li>
<li>ACCC approval should be forthcoming as ComfortDelGro is not a significant player in Australia. A2B has several substantial shareholders and a high retail shareholder base, posing a risk.</li>
<li>The shares are trading through terms. However, a bump is unlikely as the offer is attractive, and several substantial shareholders have sold down recently.  </li>
</ul>



A2B Australia (A2B AU) has entered a scheme implementation deed with Comfortdelgro Corp (CD SP) at A$1.45 per share. Including the special dividend of A$0.60, the total offer is A$2.05.
ACCC approval should be forthcoming as ComfortDelGro is not a significant player in Australia. A2B has several substantial shareholders and a high retail shareholder base, posing a risk.
The shares are trading through terms. However, a bump is unlikely as the offer is attractive, and several substantial shareholders have sold down recently.  


A2B Australia (A2B AU): ComfortDelGro’s Binding Proposal

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>The data in this insight is collated from the "shareholding disclosure" link on the HKEx website.</li>
<li>Often there is a corresponding HKEx announcement on the increase - or decrease - in the shareholding by directors. Or pledging. However, such disclosures are by no means an absolute.</li>
<li>The key stocks mentioned in this regular insight are <a href="https://www.smartkarma.com/entities/sun-hung-kai-properties-ltd" target="_blank" data-smartkarma-citation="entities:111:1" rel="noopener">Sun Hung Kai Properties (16 HK)</a> and <a href="https://www.smartkarma.com/entities/akeso-biopharma-inc" target="_blank" data-smartkarma-citation="entities:28830:1" rel="noopener">Akeso Biopharma Inc (9926 HK)</a>.</li>
</ul>


The data in this insight is collated from the "shareholding disclosure" link on the HKEx website.
Often there is a corresponding HKEx announcement on the increase - or decrease - in the shareholding by directors. Or pledging. However, such disclosures are by no means an absolute.
The key stocks mentioned in this regular insight are Sun Hung Kai Properties (16 HK) and Akeso Biopharma Inc (9926 HK).


HK CEO & Director Dealings (1 Dec 2023): Kwoks Still Buying SHK; Co-Founder Selling Akeso

Sun Hung Kai Properties / Equity Bottom-Up

<ul>
<li>After <a href="https://www.smartkarma.com/entities/sun-hung-kai-properties-ltd" target="_blank" data-smartkarma-citation="entities:111:1" rel="noopener">Sun Hung Kai Properties (16 HK)</a> released its interim results, shares declined 12.7% intra-day this past Monday, touching a 14-year low, before closing down 9.5%. </li>
<li>The same day, the Kwok family increased their stake in the company, purchasing ~2.2mn shares for ~HK$175mn.  </li>
<li>SHKP is currently trading a trailing P/B of 0.36x versus its five-year average of 0.54x, and the five-year average preceding Covid of 0.68x.</li>
</ul>


After Sun Hung Kai Properties (16 HK) released its interim results, shares declined 12.7% intra-day this past Monday, touching a 14-year low, before closing down 9.5%. 
The same day, the Kwok family increased their stake in the company, purchasing ~2.2mn shares for ~HK$175mn.  
SHKP is currently trading a trailing P/B of 0.36x versus its five-year average of 0.54x, and the five-year average preceding Covid of 0.68x.


Sun Hung Kai (16 HK): The Kwoks Step In To Stem The Tide

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mtr-corp" target="_blank" data-smartkarma-citation="entities:13289:1" rel="noopener">MTR Corp (66 HK)</a> is the lagging stock in Hong Kong although it is a key beneficiary to more Chinese tourists that will arrive soon.</li>
<li>HK Government has launched a few initiatives to invite tourists to visit Hong Kong that will boost higher ridership for the company. </li>
<li>It is now trading at the level prior to COVID with the potential of higher earnings that will come from the ridership increase. </li>
</ul>



MTR Corp (66 HK) is the lagging stock in Hong Kong although it is a key beneficiary to more Chinese tourists that will arrive soon.
HK Government has launched a few initiatives to invite tourists to visit Hong Kong that will boost higher ridership for the company. 
It is now trading at the level prior to COVID with the potential of higher earnings that will come from the ridership increase. 


MTR (66 Hk): Now if You Missed the First Bounce

Hong Kong

MTR Corporation Limited provides public transport services in Hong Kong.  The Company owns and operates the Mass Transit Railway.  The Company also develops, sells, and manages residential and commercial properties.  In addition, MTR leases commercial facilities and provides services along the Railway, such as advertising, telecommunication facilities, and provides consultancy services.

MTR Corp (66 HK)

MTR (66): Should Start to Move

MTR share price has not moved up although the statistics have improved tremendously. This is probably a good buying opportunity although it may be...

Henry Soediarko

A2B Australia (A2B AU): ComfortDelGro’s Binding Proposal

The shares are trading through terms. However, a bump is unlikely as the offer is attractive, and several substantial shareholders have sold down...

Arun George

HK CEO & Director Dealings (1 Dec 2023): Kwoks Still Buying SHK; Co-Founder Selling Akeso

The data in this insight is collated from the "shareholding disclosure" link on the HKEx website. These insights also flag those companies where...

David Blennerhassett

Sun Hung Kai (16 HK): The Kwoks Step In To Stem The Tide

I can't think of a compelling reason to get exposure in SHKP here. I can think of a number of compelling reasons not to.

David Blennerhassett

MTR (66 Hk): Now if You Missed the First Bounce

MTR is the public transport play that benefits from higher ridership as tourists started to pack HK again but its share price is lagging behind...

Henry Soediarko