Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

NTT UD REIT Investment Corporation / Event-Driven

<ul>
<li>Seemingly out of the blue, Singapore-based activist investment fund 3D Investment Partners has launched a partial tender offer at a small premium on <a href="https://www.smartkarma.com/entities/ntt-ud-reit-investment-corporation" target="_blank" data-smartkarma-citation="entities:19428:1" rel="noopener">NTT UD REIT Investment Corporation (8956 JP)</a>. </li>
<li>3DIP currently owns 2.2% and at maximum, will own 15.00% of the REIT units outstanding less treasury units. It intends to own the units for "pure investment purposes."</li>
<li>"Shareholder" structure is different for J-REITs vs companies. And this J-REIT has an interesting future possibility. But...</li>
</ul>


Seemingly out of the blue, Singapore-based activist investment fund 3D Investment Partners has launched a partial tender offer at a small premium on NTT UD REIT Investment Corporation (8956 JP). 
3DIP currently owns 2.2% and at maximum, will own 15.00% of the REIT units outstanding less treasury units. It intends to own the units for "pure investment purposes."
"Shareholder" structure is different for J-REITs vs companies. And this J-REIT has an interesting future possibility. But...


3D Launches Partial Tender Offer on NTT UD REIT (8956)

Taiwan Tech Focused Senior Analyst

Patrick Liao

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>There is a great opportunity for someone joining an advanced semiconductor manufacturing camp because there could be fewer players in the field.  </li>
<li>For a long time, TSMC production staff have won better bonuses in the company, meaning they might be able to overcome the difficulties in production.  </li>
<li>Rapidus might need another 5 years or more to become profitable if everything runs smoothly for 2nm technology. </li>
</ul>


There is a great opportunity for someone joining an advanced semiconductor manufacturing camp because there could be fewer players in the field.  
For a long time, TSMC production staff have won better bonuses in the company, meaning they might be able to overcome the difficulties in production.  
Rapidus might need another 5 years or more to become profitable if everything runs smoothly for 2nm technology. 


TSMC (2330.TT; TSM.US): Will Rapidus Threaten TSMC's 2nm Market? We Think It's Too Early to Say.

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Shimao Property Holdings / Equity Bottom-Up

<ul><li>NTT obtains $1B for a Singapore data center REIT, supporting expansion and growth in the region.</li><li>Japan's Open House acquires Bolder Presence in a $390M stake buy, increasing investment in the company.</li><li>Shimao lowers Sheraton HK Airport hotel price by 30% to attract more customers, adjusting to market demand.</li></ul>

NTT obtains $1B for a Singapore data center REIT, supporting expansion and growth in the region.Japan's Open House acquires Bolder Presence in a $390M stake buy, increasing investment in the company.Shimao lowers Sheraton HK Airport hotel price by 30% to attract more customers, adjusting to market demand.

Asia Real Estate Tracker (14-Jan-2025): NTT secures banks for $1B SG data centre REIT.

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

<ul>
<li>AI boom reflected in record fund ownership in ASML Holding NV (ASML NA), NVIDIA Corp and Taiwan Semiconductor (TSMC) (2330 TT).</li>
<li>The 'Magnificent 7' group of stocks have hit a record underweight of -6.83% below the MSCI ACWI index.  They collectively account for 11.2% of the average Global fund.</li>
<li>Recovery Stocks: The old guard of At&amp;T Inc (T US), International Business Machines (IBM US) and General Electric (GE US) appear to be gathering some support from active Global funds.</li>
</ul>


AI boom reflected in record fund ownership in ASML Holding NV (ASML NA), NVIDIA Corp and Taiwan Semiconductor (TSMC) (2330 TT).
The 'Magnificent 7' group of stocks have hit a record underweight of -6.83% below the MSCI ACWI index.  They collectively account for 11.2% of the average Global fund.
Recovery Stocks: The old guard of At&amp;T Inc (T US), International Business Machines (IBM US) and General Electric (GE US) appear to be gathering some support from active Global funds.


Global Stock Positioning:  MSFT Dominates, Mag7 Record U/W, Apple Inflows, Tobacco Uninvestable?

<ul>
<li>An <a href="https://bunshun.jp/denshiban/articles/b10138" target="_blank" rel="noopener">article</a> in Japanese weekly magazine <em>Bunshun </em>this morning sent shares in<a href="https://www.smartkarma.com/entities/sbi-sumishin-net-bank-ltd" target="_blank" data-smartkarma-citation="entities:34572:1" rel="noopener">SBI Sumishin Net Bank (7163 JP)</a> limit up +17% with a headline that NTT Docomo was interested to buy.</li>
<li>Without access to the article, I can't go deep, but the base concept is that NTT Docomo is "worried" about KDDI (which has a bank, as does Softbank Corp)</li>
<li>It is not clear how serious it is, SBI Sumishin is super-expensive, and buying a bank isn't the same as buying a company. Hmmm...</li>
</ul>


An article in Japanese weekly magazine Bunshun this morning sent shares inSBI Sumishin Net Bank (7163 JP) limit up +17% with a headline that NTT Docomo was interested to buy.
Without access to the article, I can't go deep, but the base concept is that NTT Docomo is "worried" about KDDI (which has a bank, as does Softbank Corp)
It is not clear how serious it is, SBI Sumishin is super-expensive, and buying a bank isn't the same as buying a company. Hmmm...


NTT (9432 JP) And SBI Sumishin NetBank (7163 JP)? Maybe. Maybe Not. Seven Bank A Better Idea

Japan

Nippon Telegraph and Telephone Corporation provides a variety of telecommunication services, including telephone, telegraph, leased circuits, data communication, terminal equipment sales, and related services. The Company provides both local and long distance telephone services within Japan.

NTT (Nippon Telegraph & Telephone) (9432 JP)

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NTT (Nippon Telegraph & Telephone) (9432 JP)

3D Launches Partial Tender Offer on NTT UD REIT (8956)

Today, Singapore-based Japan activist 3D Investment Partners announced a partial tender offer for pure investment purposes. They will get to 10-15%...

Travis Lundy

TSMC (2330.TT; TSM.US): Will Rapidus Threaten TSMC's 2nm Market? We Think It's Too Early to Say.

Joining an advanced semi manufacturing camp could be a lucrative opportunity with fewer competitors, as Rapidus works on licensing IBM's 2nm GAA...

Patrick Liao

Asia Real Estate Tracker (14-Jan-2025): NTT secures banks for $1B SG data centre REIT.

NTT secures $1B for Singapore data center REIT, Open House acquires Builder Pressance, Shimao reduces Sheraton HK Airport hotel price by 30%, and...

Asia Real Estate Tracker

Global Stock Positioning: MSFT Dominates, Mag7 Record U/W, Apple Inflows, Tobacco Uninvestable?

The latest in stock-level investor positioning among over 300 active Global funds. We explore the AI boom, key over/underweights, Tobacco's...

Steven Holden

NTT (9432 JP) And SBI Sumishin NetBank (7163 JP)? Maybe. Maybe Not. Seven Bank A Better Idea

A news weekly magazine Bunshun today had an article suggesting a bank executive thought NTT Docomo was on its way to buying SBI Sumishin Netbank....

Travis Lundy

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3D Launches Partial Tender Offer on NTT UD REIT (8956)

Today, Singapore-based Japan activist 3D Investment Partners announced a partial tender offer for pure investment purposes. They will get to 10-15%...

Travis Lundy

TSMC (2330.TT; TSM.US): Will Rapidus Threaten TSMC's 2nm Market? We Think It's Too Early to Say.

​Joining an advanced semi manufacturing camp could be a lucrative opportunity with fewer competitors, as Rapidus works on licensing IBM's 2nm GAA...

Patrick Liao

Asia Real Estate Tracker (14-Jan-2025): NTT secures banks for $1B SG data centre REIT.

NTT secures $1B for Singapore data center REIT, Open House acquires Builder Pressance, Shimao reduces Sheraton HK Airport hotel price by 30%, and...

Asia Real Estate Tracker

Global Stock Positioning: MSFT Dominates, Mag7 Record U/W, Apple Inflows, Tobacco Uninvestable?

The latest in stock-level investor positioning among over 300 active Global funds. We explore the AI boom, key over/underweights, Tobacco's...

Steven Holden

NTT (9432 JP) And SBI Sumishin NetBank (7163 JP)? Maybe. Maybe Not. Seven Bank A Better Idea

A news weekly magazine Bunshun today had an article suggesting a bank executive thought NTT Docomo was on its way to buying SBI Sumishin Netbank....

Travis Lundy

Joining an advanced semi manufacturing camp could be a lucrative opportunity with fewer competitors, as Rapidus works on licensing IBM's 2nm GAA...