Founder

Kemp Dolliver, CFA

Cherrystone Hill Research

Thematic (Sector/Industry)

<p>This post is a follow-up to discuss potential follow-on impacts of Hutchison Whampoa's restructuring on the Watson's retail segment. With a deal for O2 in the works, a Watson's listing or sale could be a source of permanent funding for this transaction. As an entity with its own currency, Watson's could accelerate its expansion program. The same is true if a retailer with global ambitions buys control.</p>

This post is a follow-up to discuss potential follow-on impacts of Hutchison Whampoa's restructuring on the Watson's retail segment. With a deal for O2 in the works, a Watson's listing or sale could be a source of permanent funding for this transaction. As an entity with its own currency, Watson's could accelerate its expansion program. The same is true if a retailer with global ambitions buys control.

Hutchison Whampoa Restructuring: Next Move for Watson's? Part Two

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Equity Bottom-Up

AP Moeller - Maersk A/S / Equity Bottom-Up

<ul>
<li>Maersk's Q125 results slightly beat expectations, but earnings momentum continues to wane</li>
<li>Financial guidance for FY25 unchanged, but there are notable tweaks to key assumptions</li>
<li>Q125 likely carriers' best financial period of FY25 (by far), profits set to erode rest of year</li>
</ul>


Maersk's Q125 results slightly beat expectations, but earnings momentum continues to wane
Financial guidance for FY25 unchanged, but there are notable tweaks to key assumptions
Q125 likely carriers' best financial period of FY25 (by far), profits set to erode rest of year


Maersk Q125 Results: Solid Q1 Numbers | But Mgmt Retains Negative View on FY25, Citing Uncertainty

HK/China Equity Long-Short

Osbert Tang, CFA

<ul>
<li>With its share price returning to HK$0.68 level, the investment value of <a href="https://www.smartkarma.com/entities/singamas-container-holdings" target="_blank" data-smartkarma-citation="entities:13602:1" rel="noopener">Singamas Container Holdings (716 HK)</a> has re-emerged.</li>
<li>Its competitor, CIMC, has just issued a positive profit alert, indicating an impressive 888.7% and 317.3% growth in reported and recurring earnings, which is positive for Singamas.</li>
<li>An 11% growth in the global containership fleet in FY24 is also beneficial to the company. Its net cash of HK$1.65bn equals 1.02x its market capitalisation.</li>
</ul>


With its share price returning to HK$0.68 level, the investment value of Singamas Container Holdings (716 HK) has re-emerged.
Its competitor, CIMC, has just issued a positive profit alert, indicating an impressive 888.7% and 317.3% growth in reported and recurring earnings, which is positive for Singamas.
An 11% growth in the global containership fleet in FY24 is also beneficial to the company. Its net cash of HK$1.65bn equals 1.02x its market capitalisation.


Singamas (716 HK): Positive Readthrough from CIMC

<ul>
<li>
<a href="https://www.smartkarma.com/entities/singamas-container-holdings" target="_blank" data-smartkarma-citation="entities:13602:1" rel="noopener">Singamas Container Holdings (716 HK)</a> is interesting in that it has a net cash of US$300m (HK$2.35bn), but its market capitalisation is only HK$1.5bn. </li>
<li>This is a possible privatisation candidate given the steep discount to cash. The thin trading volume made it difficult to function as a financing platform.</li>
<li>Business-Wise, it should have passed the trough as global container box plant utilisation is expected to improve in the next two years, driving profitability recovery.</li>
</ul>



Singamas Container Holdings (716 HK) is interesting in that it has a net cash of US$300m (HK$2.35bn), but its market capitalisation is only HK$1.5bn. 
This is a possible privatisation candidate given the steep discount to cash. The thin trading volume made it difficult to function as a financing platform.
Business-Wise, it should have passed the trough as global container box plant utilisation is expected to improve in the next two years, driving profitability recovery.


Singamas (716 HK): Net Cash 1.6x of Market Cap, Why Not Privatise?

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Last Week in Event SPACE: Evergrande, Spark Infra, Naspers/Prosus, Boral, China Conch Ventures

Hong Kong

Singamas Container is a leading manufacturer of various containers, including dry freight, specialized, tank, and offshore containers. The company also operates container depots and provides logistics services such as storage, repair, and handling. It was founded in 1988 and is headquartered in Hong Kong.

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Singamas Container (716 HK)

Hutchison Whampoa Restructuring: Next Move for Watson's? Part Two

This post is a follow-up to discuss potential follow-on impacts of Hutchison Whampoa's restructuring on the Watson's retail segment. With a deal...

Kemp Dolliver, CFA

Maersk Q125 Results: Solid Q1 Numbers | But Mgmt Retains Negative View on FY25, Citing Uncertainty

Maersk reported solid Q1 results on Thursday in Copenhagen, and its downbeat FY25 guidance is unchanged. That guidance implies a dramatic erosion...

Tracking Traffic

Singamas (716 HK): Positive Readthrough from CIMC

Singamas‘ investment value has returned as its competitor reports impressive 3Q24 profit growth. Global containership fleet growth will drive...

Osbert Tang, CFA

Singamas (716 HK): Net Cash 1.6x of Market Cap, Why Not Privatise?

Singamas presents a potential privatisation opportunity with a significant cash surplus compared to the market cap. Business outlook is improving...

Osbert Tang, CFA

Last Week in Event SPACE: Evergrande, Spark Infra, Naspers/Prosus, Boral, China Conch Ventures

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

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Hutchison Whampoa Restructuring: Next Move for Watson's? Part Two

This post is a follow-up to discuss potential follow-on impacts of Hutchison Whampoa's restructuring on the Watson's retail segment. With a deal...

Kemp Dolliver, CFA

Maersk Q125 Results: Solid Q1 Numbers | But Mgmt Retains Negative View on FY25, Citing Uncertainty

Maersk reported solid Q1 results on Thursday in Copenhagen, and its downbeat FY25 guidance is unchanged. That guidance implies a dramatic erosion...

Tracking Traffic

Singamas (716 HK): Positive Readthrough from CIMC

​Singamas‘ investment value has returned as its competitor reports impressive 3Q24 profit growth. Global containership fleet growth will drive...

Osbert Tang, CFA

Singamas (716 HK): Net Cash 1.6x of Market Cap, Why Not Privatise?

​Singamas presents a potential privatisation opportunity with a significant cash surplus compared to the market cap. Business outlook is improving...

Osbert Tang, CFA

Last Week in Event SPACE: Evergrande, Spark Infra, Naspers/Prosus, Boral, China Conch Ventures

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

Singamas‘ investment value has returned as its competitor reports impressive 3Q24 profit growth. Global containership fleet growth will drive...

Singamas presents a potential privatisation opportunity with a significant cash surplus compared to the market cap. Business outlook is improving...