Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>I tally 39 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.</li>
<li>Two new deals discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/xingda-international-holdings" target="_blank" data-smartkarma-citation="entities:17836:1" rel="noopener">Xingda International (1899 HK)</a> and <a href="https://www.smartkarma.com/entities/nsl-ltd-singapore" target="_blank" data-smartkarma-citation="entities:12666:1" rel="noopener">NSL Ltd (NSL SP)</a>. <a href="https://www.smartkarma.com/entities/sun-art-retail-group-ltd" target="_blank" data-smartkarma-citation="entities:401:1" rel="noopener">Sun Art Retail (6808 HK)</a> also susppended due to the Takeovers Code.</li>
<li>Key updates took place on: <a href="https://www.smartkarma.com/entities/dyna-mac-holdings-ltd" target="_blank" data-smartkarma-citation="entities:16153:1" rel="noopener">Dyna Mac Holdings (DMHL SP)</a>, <a href="https://www.smartkarma.com/entities/platinum-asset-management" target="_blank" data-smartkarma-citation="entities:914:1" rel="noopener">Platinum Asset Management (PTM AU)</a>, <a href="https://www.smartkarma.com/entities/fuji-soft-inc" target="_blank" data-smartkarma-citation="entities:17504:1" rel="noopener">Fuji Soft (9749 JP)</a>, <a href="https://www.smartkarma.com/entities/jtower-inc" target="_blank" data-smartkarma-citation="entities:31042:1" rel="noopener">JTower (4485 JP)</a>, <a href="https://www.smartkarma.com/entities/arvida-group-ltd" target="_blank" data-smartkarma-citation="entities:14485:1" rel="noopener">Arvida (ARV NZ)</a>, and <a href="https://www.smartkarma.com/entities/korea-zinc-co-ltd" target="_blank" data-smartkarma-citation="entities:17944:1" rel="noopener">Korea Zinc (010130 KS)</a>.</li>
</ul>


I tally 39 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Two new deals discussed on Smartkarma this week: Xingda International (1899 HK) and NSL Ltd (NSL SP). Sun Art Retail (6808 HK) also susppended due to the Takeovers Code.
Key updates took place on: Dyna Mac Holdings (DMHL SP), Platinum Asset Management (PTM AU), Fuji Soft (9749 JP), JTower (4485 JP), Arvida (ARV NZ), and Korea Zinc (010130 KS).


(Mostly) Asia-Pac M&A: Dyna Mac, Platinum Asset, Fuji Soft, JTower, Arvida, Korea Zinc, Sun Art

<ul>
<li>Back on the<a href="https://links.sgx.com/FileOpen/NSL%20-%20Pre-Conditional%20MGO%20Annc_Final.ashx?App=Announcement&amp;FileID=812590" target="_blank" rel="noopener"> 23rd July</a>, YTL Cement entered into a S&amp;P agreement with 98 Holdings to acquire a 81.24% stake in building material manufacturing/supplier <a href="https://www.smartkarma.com/entities/nsl-ltd-singapore" target="_blank" data-smartkarma-citation="entities:12666:1" rel="noopener">NSL Ltd (NSL SP)</a> at S$0.75/share. </li>
<li>Pre-Conditions are now satisfied, and YTL Cement has launched a <a href="https://links.sgx.com/FileOpen/NSL%20-%20Firm%20Offer%20Announcement%20and%20Appointment%20of%20Independent%20Financial%20Adviser.ashx?App=Announcement&amp;FileID=819425" target="_blank" rel="noopener">mandatory unconditional cash Offer</a>. The Offer price is also S$0.75/share. </li>
<li>Super straightforward deal. And will trade tight to - or through terms. YTL's intention is to maintain NSL's listing. </li>
</ul>


Back on the 23rd July, YTL Cement entered into a S&amp;P agreement with 98 Holdings to acquire a 81.24% stake in building material manufacturing/supplier NSL Ltd (NSL SP) at S$0.75/share. 
Pre-Conditions are now satisfied, and YTL Cement has launched a mandatory unconditional cash Offer. The Offer price is also S$0.75/share. 
Super straightforward deal. And will trade tight to - or through terms. YTL's intention is to maintain NSL's listing. 


NSL Ltd (NSL SP): YTL's Unconditional Offer

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Technical Analysis

<ul><li>The SET was able to stand above 1,400 points following the doji signal at the support and moved in positive territory throughout the day; but volume was light, and large cap stocks moved in a narrow range, making the surge unstable.</li><li>The rebound from the support with a white candlestick indicates that the index will head up, especially if it can surpass the 25-day EMA line at 1,412 points, with the small M-shaped pattern to create a chance to hit the large resistance at 1,448 points.</li><li>The index is likely to rebound further, but the rise will be limited; we thus recommend brief rebound play until it can stand above 1,412 points.</li></ul>

The SET was able to stand above 1,400 points following the doji signal at the support and moved in positive territory throughout the day; but volume was light, and large cap stocks moved in a narrow range, making the surge unstable.The rebound from the support with a white candlestick indicates that the index will head up, especially if it can surpass the 25-day EMA line at 1,412 points, with the small M-shaped pattern to create a chance to hit the large resistance at 1,448 points.The index is likely to rebound further, but the rise will be limited; we thus recommend brief rebound play until it can stand above 1,412 points.

<ul><li>Asian bourses soared in response to Nvidia's strong earnings, leading to notable rises in DELTA, KCE and HANA, which became the driving factor for the SET's continued surge, although banking stocks faced profit taking.</li><li>The index tested the resistance at 1,560 for the first time this month but failed to breach it.</li><li>We expect the index to breach the resistance at 1,560 points after the RSI stayed far from the overbought zone and recommend selective speculation.</li></ul>

Asian bourses soared in response to Nvidia's strong earnings, leading to notable rises in DELTA, KCE and HANA, which became the driving factor for the SET's continued surge, although banking stocks faced profit taking.The index tested the resistance at 1,560 for the first time this month but failed to breach it.We expect the index to breach the resistance at 1,560 points after the RSI stayed far from the overbought zone and recommend selective speculation.

Equity Bottom-Up

<ul><li>The SET Index is expected to move sideways up, with the resistance at 1,651/1,660 points and the support at 1,638/1,630 points.</li><li>Thailand ranks as the second most popular destination for Chinese tourists.</li><li>The Ministry of Commerce reported that Thailand recorded a trade deficit in November for the eighth month in a row, marking at a higher-than-expected -USD1.34bn (vs. the expected -USD0.2bn and October at -USD0.6bn).</li></ul>

The SET Index is expected to move sideways up, with the resistance at 1,651/1,660 points and the support at 1,638/1,630 points.Thailand ranks as the second most popular destination for Chinese tourists.The Ministry of Commerce reported that Thailand recorded a trade deficit in November for the eighth month in a row, marking at a higher-than-expected -USD1.34bn (vs. the expected -USD0.2bn and October at -USD0.6bn).

Krungthai XSpring Zoom Eng. December 28, 2022

Singapore

NSL is a leading industrial group in Asia Pacific. Its core businesses include the manufacturing of precast concrete components and prefabricated bathroom units, and integrated environmental services for hazardous industrial waste and wastewater. The company also produces refractory materials and roadstone products, and manages Raffles Marina Club. NSL was incorporated in 1961 and is headquartered in Singapore.

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NSL (NSL SP)

(Mostly) Asia-Pac M&A: Dyna Mac, Platinum Asset, Fuji Soft, JTower, Arvida, Korea Zinc, Sun Art

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

NSL Ltd (NSL SP): YTL's Unconditional Offer

Super straightforward deal. And will trade tight to - or potentially through terms. YTL's intention is to maintain NSL's listing.

David Blennerhassett

Recommendation: Brief Rebound Play

The SET was able to stand above 1,400 points following the doji signal at the support and moved in positive territory throughout the day; but...

Krungthai XSpring

Recommendation: Selective Speculation

Asian bourses soared in response to Nvidia's strong earnings, leading to notable rises in DELTA, KCE and HANA, which became the driving factor for...

Krungthai XSpring

Krungthai XSpring Zoom Eng. December 28, 2022

The SET Index is expected to move sideways up, with the resistance at 1,651/1,660 points and the support at 1,638/1,630 points. Thailand ranks as...

Krungthai XSpring

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