Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

This week I briefly look at recent (&amp; ongoing) bifurcations in <a href="https://www.smartkarma.com/entities/8517" target="_blank" data-smartkarma-citation="entities:8517:1">United Co Rusal Plc (486 HK)</a>; <a href="https://www.smartkarma.com/entities/873" target="_blank" data-smartkarma-citation="entities:873:1">PCCW Ltd (8 HK)</a>; <a href="https://www.smartkarma.com/entities/8122" target="_blank" data-smartkarma-citation="entities:8122:1">Kingboard Chemical Holdings (148 HK)</a>, <a href="https://www.smartkarma.com/entities/15778" target="_blank" data-smartkarma-citation="entities:15778:1">Pasona Group Inc (2168 JP)</a> and <a href="https://www.smartkarma.com/entities/52" target="_blank" data-smartkarma-citation="entities:52:1">Wheelock &amp; Co Ltd (20 HK)</a>.These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold - the $ value of the holding/opco held, over the parent’s market capitalisation, expressed as a % - of at least 20%.A detailed NAV for a number of these parent/holding relationships highlighted can be found in our holdco monitor.

This week I briefly look at recent (&amp; ongoing) bifurcations in United Co Rusal Plc (486 HK); PCCW Ltd (8 HK); Kingboard Chemical Holdings (148 HK), Pasona Group Inc (2168 JP) and Wheelock &amp; Co Ltd (20 HK).These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold - the $ value of the holding/opco held, over the parent’s market capitalisation, expressed as a % - of at least 20%.A detailed NAV for a number of these parent/holding relationships highlighted can be found in our holdco monitor.

StubWorld - Set-Up/​​Unwind Extremes: Rusal, PCCW, Kingboard

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

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Yangzijiang, GLP, Genting SP, UOL & City Dev Led STI in 3Q17

SGX Sustainability Leaders Index generated 15% YTD Total Return

APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Capital Markets

Garuda Maintenance Facility / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/25901" target="_blank" data-smartkarma-citation="entities:25901:1">Garuda Maintenance Facility (1536227D IJ)</a> is raising approximately US$419m in its upcoming IPO. Proceeds will be used to expand current capacity, repay debt, and general working capital.In this insight, we will look at the company's past performance, the Manufacturing, Repair, and Overhaul (MRO) industry, and compare it with peers in the same industry. As usual, we will also run the deal through our ECM framework.

Garuda Maintenance Facility (1536227D IJ) is raising approximately US$419m in its upcoming IPO. Proceeds will be used to expand current capacity, repay debt, and general working capital.In this insight, we will look at the company's past performance, the Manufacturing, Repair, and Overhaul (MRO) industry, and compare it with peers in the same industry. As usual, we will also run the deal through our ECM framework.

Garuda Maintenance Facility IPO - Bright Spot in a Challenging Industry

Singapore

Singapore Airlines Limited provides air transportation, engineering, pilot training, air charter, and tour wholesaling services. The Company's airline operation covers Asia, Europe, the Americas, South West Pacific, and Africa.

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Singapore Airlines (SIA SP)

StubWorld - Set-Up/Unwind Extremes: Rusal, PCCW, Kingboard

This week I briefly look at recent (& ongoing) bifurcations in United Co Rusal Plc (486 HK); PCCW Ltd (8 HK); Kingboard Chemical Holdings (148...

David Blennerhassett

STI September Quarter Earnings Schedule

Singapore Exchange Ltd (SGX)

Yangzijiang, GLP, Genting SP, UOL & City Dev Led STI in 3Q17

Singapore Exchange Ltd (SGX)

SGX Sustainability Leaders Index generated 15% YTD Total Return

Singapore Exchange Ltd (SGX)

Garuda Maintenance Facility IPO - Bright Spot in a Challenging Industry

Garuda Maintenance Facility (1536227D IJ) is raising approximately US$419m in its upcoming IPO. Proceeds will be used to expand current capacity,...

Zhen Zhou, Toh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

StubWorld - Set-Up/​​Unwind Extremes: Rusal, PCCW, Kingboard

This week I briefly look at recent (& ongoing) bifurcations in United Co Rusal Plc (486 HK); PCCW Ltd (8 HK); Kingboard Chemical Holdings (148...

David Blennerhassett

STI September Quarter Earnings Schedule

Singapore Exchange Ltd (SGX)

Yangzijiang, GLP, Genting SP, UOL & City Dev Led STI in 3Q17

Singapore Exchange Ltd (SGX)

SGX Sustainability Leaders Index generated 15% YTD Total Return

Singapore Exchange Ltd (SGX)

Garuda Maintenance Facility IPO - Bright Spot in a Challenging Industry

Garuda Maintenance Facility (1536227D IJ) is raising approximately US$419m in its upcoming IPO. Proceeds will be used to expand current capacity,...

Zhen Zhou, Toh

StubWorld - Set-Up/Unwind Extremes: Rusal, PCCW, Kingboard