Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

This week in StubWorld ...
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<a href="https://www.smartkarma.com/entities/genting-bhd" target="_blank" data-smartkarma-citation="entities:14210:1" rel="noopener">Genting Bhd (GENT MK)</a> is coming up "cheap" as <a href="https://www.smartkarma.com/entities/genting-malaysia-bhd" target="_blank" data-smartkarma-citation="entities:3141:1" rel="noopener">Genting Malaysia (GENM MK)</a> ​rallies on speculation its theme park will open soon.</li>
<li>
<a href="https://www.smartkarma.com/entities/jardine-matheson-hldgs-ltd" target="_blank" data-smartkarma-citation="entities:19718:1" rel="noopener">Jardine Matheson Hldgs (JM SP)</a> has outperformed <a href="https://www.smartkarma.com/entities/jardine-strategic-hldgs-ltd" target="_blank" data-smartkarma-citation="entities:15081:1" rel="noopener">Jardine Strategic Hldgs (JS SP)</a> into the 30 calendar day blackout ahead of results on the 2 August; yet even if JM resumes buying shares in JS, the quantum will be minimal if adhering to the regulatory public float.</li>
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Preceding my comments on Genting and Jardine amongst other stubs, are the weekly setup/unwind tables for Asia-Pacific Holdcos.
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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 in percent - of at least 20%.
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This week in StubWorld ...


Genting Bhd (GENT MK) is coming up "cheap" as Genting Malaysia (GENM MK) ​rallies on speculation its theme park will open soon.

Jardine Matheson Hldgs (JM SP) has outperformed Jardine Strategic Hldgs (JS SP) into the 30 calendar day blackout ahead of results on the 2 August; yet even if JM resumes buying shares in JS, the quantum will be minimal if adhering to the regulatory public float.

Preceding my comments on Genting and Jardine amongst other stubs, are the weekly setup/unwind tables for Asia-Pacific Holdcos.

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 in percent - of at least 20%.


StubWorld: Genting And Theme Park Rumours, Strategic Float Supports Matheson

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

<ul><li>There has been a strong demand growth for carbonated water (sparkling water) in Korea. We expect the carbonated water market to jump 6x from 20bn won in 2013 to about 120bn won in 2016, representing 82% CAGR growth rate during this period. </li><li>The Trevi brand (Lotte Chilsung Beverage Company) is dominant carbonated water in Korea with nearly 62% market share.</li><li>The strong demand carbonated water has been driven by 1) increasing health conscious consumers that are avoiding products with sugar and high calories, especially among young women 2) increasing meat consumption in Korea and some consumers believe that carbonated water helps in digestion, 3) aggressive marketing and promotions</li><li>Taekyung Chem (006890 KS) is one of the beneficiaries of the strong demand for carbonated water in Korea. Taekyung Chem has a leading market share (30%) in the manufacturing of liquid carbon dioxide (used in sparking water, for example) in Korea. Liquid carbon dioxide represents the biggest revenue segment, at 40% of total sales in 1Q-3Q 2015.</li></ul>

There has been a strong demand growth for carbonated water (sparkling water) in Korea. We expect the carbonated water market to jump 6x from 20bn won in 2013 to about 120bn won in 2016, representing 82% CAGR growth rate during this period. The Trevi brand (Lotte Chilsung Beverage Company) is dominant carbonated water in Korea with nearly 62% market share.The strong demand carbonated water has been driven by 1) increasing health conscious consumers that are avoiding products with sugar and high calories, especially among young women 2) increasing meat consumption in Korea and some consumers believe that carbonated water helps in digestion, 3) aggressive marketing and promotionsTaekyung Chem (006890 KS) is one of the beneficiaries of the strong demand for carbonated water in Korea. Taekyung Chem has a leading market share (30%) in the manufacturing of liquid carbon dioxide (used in sparking water, for example) in Korea. Liquid carbon dioxide represents the biggest revenue segment, at 40% of total sales in 1Q-3Q 2015.

Strong Growth of Sparkling Water in Korea

South Korea

Tae Kyung Chemical Co., Ltd. manufactures liquid carbon dioxide and dry ice. The Company distributes its products to beverage and heavy industry companies. Tae Kyung also produces nitrogen and oxygen for welding and ethylene.

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Tae Kyung Chemical (006890 KS)

StubWorld: Genting And Theme Park Rumours, Strategic Float Supports Matheson

This week in StubWorld ... Genting Bhd (GENT MK) is coming up "cheap" as Genting Malaysia (GENM MK) rallies on speculation its theme park will...

David Blennerhassett

Strong Growth of Sparkling Water in Korea

There has been a strong demand growth for carbonated water (sparkling water) in Korea. We expect the carbonated water market to jump 6x from 20bn...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

StubWorld: Genting And Theme Park Rumours, Strategic Float Supports Matheson

This week in StubWorld ... Genting Bhd (GENT MK) is coming up "cheap" as Genting Malaysia (GENM MK) ​rallies on speculation its theme park will...

David Blennerhassett

Strong Growth of Sparkling Water in Korea

There has been a strong demand growth for carbonated water (sparkling water) in Korea. We expect the carbonated water market to jump 6x from 20bn...

Douglas Kim

This week in StubWorld ... Genting Bhd (GENT MK) is coming up "cheap" as Genting Malaysia (GENM MK) rallies on speculation its theme park will...