Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of Bursa stocks as of Aug 14th. The aggregated short interest is USD1,419m.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Malayan Banking, Tenaga Nasional, Kelington, Heineken, Pentamaster.</li>
</ul>


We analyzed the changes in short interest of Bursa stocks as of Aug 14th. The aggregated short interest is USD1,419m.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Malayan Banking, Tenaga Nasional, Kelington, Heineken, Pentamaster.


Bursa Short Interest Weekly (Aug 14th): Malayan Banking, Tenaga Nasional, Kelington, Heineken

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>I tally 32  - 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>Two new deals were was discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/fleetpartners-group-ltd" target="_blank" data-smartkarma-citation="entities:339:1" rel="noopener">FleetPartners Group (FPR AU)</a> and <a href="https://www.smartkarma.com/entities/maxnerva-technology-services-limited" target="_blank" data-smartkarma-citation="entities:17502:1" rel="noopener">Maxnerva Technology Services (1037 HK)</a>.</li>
<li>Key updates/news also took place on: <a href="https://www.smartkarma.com/entities/steadfast-group-ltd" target="_blank" data-smartkarma-citation="entities:8181:1" rel="noopener">Steadfast (SDF AU)</a>, <a href="https://www.smartkarma.com/entities/golfzon-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:16376:1" rel="noopener">Golfzon Holdings (121440 KS)</a>, <a href="https://www.smartkarma.com/entities/polyplex-thailand-public-co-ltd" target="_blank" data-smartkarma-citation="entities:6586:1" rel="noopener">Polyplex (Thailand) (PTL TB)</a>, <a href="https://www.smartkarma.com/entities/renew-energy-global-plc" target="_blank" data-smartkarma-citation="entities:37038:1" rel="noopener">ReNew Energy Global (RNW US)</a>, and <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>.</li>
</ul>


I tally 32  - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.
Two new deals were was discussed on Smartkarma this week: FleetPartners Group (FPR AU) and Maxnerva Technology Services (1037 HK).
Key updates/news also took place on: Steadfast (SDF AU), Golfzon Holdings (121440 KS), Polyplex (Thailand) (PTL TB), ReNew Energy Global (RNW US), and China Shengmu Organic Milk (1432 HK).


Asia-Pac Weekly Wrap: FleetPartners, Maxnerva, Steadfast, Golfzon, Polyplex, ReNew Energy, Shengmu

<ul>
<li>Strategically, range trade <a href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:1041:1" rel="noopener">Seven &amp; I Holdings (3382 JP)</a>. Sell large pops, buy large declines. Big picture this big buyback  doesn't change very much at all on a net basis.</li>
<li>
<a href="https://www.smartkarma.com/entities/legend-holdings-corporation-class-h" target="_blank" data-smartkarma-citation="entities:517:1" rel="noopener">Legend Holdings (3396 HK)</a>(finally) sees a decent move. The positive profit alert issued no doubt nudge things along nicely. </li>
<li>Post sale to Heidelberg, how much, if any, will the market re-rate <a href="https://www.smartkarma.com/entities/maas-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:33520:1" rel="noopener">MAAS Group Holdings (MGH AU)</a> as an infrastructure/ "AI-enabler" rather than a contractor currently?</li>
</ul>


Strategically, range trade Seven &amp; I Holdings (3382 JP). Sell large pops, buy large declines. Big picture this big buyback  doesn't change very much at all on a net basis.

Legend Holdings (3396 HK)(finally) sees a decent move. The positive profit alert issued no doubt nudge things along nicely. 
Post sale to Heidelberg, how much, if any, will the market re-rate MAAS Group Holdings (MGH AU) as an infrastructure/ "AI-enabler" rather than a contractor currently?


Last Week In Event SPACE: Seven & I, Legend Holdings, MAAS, Lynas Corp

<ul>
<li>Yesterday, <a href="https://www.smartkarma.com/entities/press-metal-bhd" target="_blank" data-smartkarma-citation="entities:19753:1" rel="noopener">Press Metal (PRESS MK)</a> <a href="https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=171748&amp;name=EA_GA_ATTACHMENTS" target="_blank" rel="noopener">announced</a> it is buying a 35.6% stake in listed associate <a href="https://www.smartkarma.com/entities/pmb-technology-bhd" target="_blank" data-smartkarma-citation="entities:19094:1" rel="noopener">PMB Technology (PMBT MK)</a> from its controlling shareholders’, the Koon family.</li>
<li>Upon completion, Press Metal would hold 58.8% in PMB, up from 23.2%. However, no mandatory Offer is triggered as Press Metal obtained an exemption from Malaysia's Securities Commission. </li>
<li>The exemption appears price-agnostic. But at least the Koon family is exiting at RM0.70/share versus the undisturbed price of RM1.79/share.</li>
</ul>


Yesterday, Press Metal (PRESS MK) announced it is buying a 35.6% stake in listed associate PMB Technology (PMBT MK) from its controlling shareholders’, the Koon family.
Upon completion, Press Metal would hold 58.8% in PMB, up from 23.2%. However, no mandatory Offer is triggered as Press Metal obtained an exemption from Malaysia's Securities Commission. 
The exemption appears price-agnostic. But at least the Koon family is exiting at RM0.70/share versus the undisturbed price of RM1.79/share.


Press Metal (PRESS MK) Takes Control Of PMB Tech (PMBT MK), But Avoids MGO

<ul>
<li>We analyzed the changes in short interest of Bursa stocks as of Jul 31st. The aggregated short interest is USD1,324m.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Petronas Chemicals, RHB Bank, MY EG Services, IOI Properties, SNS.</li>
</ul>


We analyzed the changes in short interest of Bursa stocks as of Jul 31st. The aggregated short interest is USD1,324m.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Petronas Chemicals, RHB Bank, MY EG Services, IOI Properties, SNS.


Bursa Short Interest Weekly (Jul 31st): Petronas Chemicals, RHB Bank, MY EG Services, IOI Properties

Malaysia

Press Metal Berhad manufactures and markets aluminum products.  The Company, through its subsidiaries, contracts and fabricates aluminum and stainless steel products, operates in property development, and provides construction work. Press Metal also operates environmental business such as treats toxic waste, recycles waste, markets gypsum board, and carries out environmental projects.

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

Press Metal (PRESS MK)

Bursa Short Interest Weekly (Aug 14th): Malayan Banking, Tenaga Nasional, Kelington, Heineken

We analyzed Bursa Malaysia short interest report for the past week and highlighted short interest changes in Malayan Banking, Tenaga Nasional,...

Ke Yan, CFA, FRM

Asia-Pac Weekly Wrap: FleetPartners, Maxnerva, Steadfast, Golfzon, Polyplex, ReNew Energy, Shengmu

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: Seven & I, Legend Holdings, MAAS, Lynas Corp

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