Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>I tally 35 - 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/ingenia-communities-group" target="_blank" data-smartkarma-citation="entities:5495:1" rel="noopener">Ingenia Communities (INA AU)</a>, <a href="https://www.smartkarma.com/entities/albis-co-ltd" target="_blank" data-smartkarma-citation="entities:16344:1" rel="noopener">Albis Co Ltd (7475 JP)</a>, and <a href="https://www.smartkarma.com/entities/sharingtechnology-inc" target="_blank" data-smartkarma-citation="entities:26948:1" rel="noopener">Sharingtechnology Inc (3989 JP)</a>.</li>
<li>Key updates/news also took place on:<a href="https://www.smartkarma.com/entities/kakaku-com-inc" target="_blank" data-smartkarma-citation="entities:7408:1" rel="noopener">Kakaku.com Inc (2371 JP)</a>, <a href="https://www.smartkarma.com/entities/zenith-minerals-ltd" target="_blank" data-smartkarma-citation="entities:3234:1" rel="noopener">Zenith Minerals (ZNC AU)</a>, and <a href="https://www.smartkarma.com/entities/cygnus-metals-limited" target="_blank" data-smartkarma-citation="entities:30504:1" rel="noopener">Cygnus Metals (CY5 AU)</a>.</li>
</ul>


I tally 35 - 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: Ingenia Communities (INA AU), Albis Co Ltd (7475 JP), and Sharingtechnology Inc (3989 JP).
Key updates/news also took place on:Kakaku.com Inc (2371 JP), Zenith Minerals (ZNC AU), and Cygnus Metals (CY5 AU).


Asia-Pac Weekly Wrap: Kakaku, Ingenia Communities, Albis, Sharingtechnology, Cygnus Metals

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 Sep 4th. The aggregated short interest is USD1,541m.</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 RHB Bank, Greatech Technology, United Plantations, CIMB, Tenaga Nasional.</li>
</ul>


We analyzed the changes in short interest of Bursa stocks as of Sep 4th. The aggregated short interest is USD1,541m.
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 RHB Bank, Greatech Technology, United Plantations, CIMB, Tenaga Nasional.


Bursa Short Interest Weekly (Sep 4th): RHB Bank, Greatech Technology, United Plantations, CIMB

<ul>
<li>I tally 34 - 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>One new deals were was discussed on Smartkarma this week: the indicative Offer for <a href="https://www.smartkarma.com/entities/yinson-holdings-bhd" target="_blank" data-smartkarma-citation="entities:3252:1" rel="noopener">Yinson Holdings (YNS MK)</a>.</li>
<li>Key updates/news also took place on: <a href="https://www.smartkarma.com/entities/dentsu-soken-inc" target="_blank" data-smartkarma-citation="entities:20535:1" rel="noopener">Dentsu Soken (4812 JP)</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/energy-one-ltd" target="_blank" data-smartkarma-citation="entities:19865:1" rel="noopener">Energy One Ltd (EOL AU)</a>, and <a href="https://www.smartkarma.com/entities/avarga-limited" target="_blank" data-smartkarma-citation="entities:13105:1" rel="noopener">Avarga (AVARGA SP)</a>.</li>
</ul>


I tally 34 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.
One new deals were was discussed on Smartkarma this week: the indicative Offer for Yinson Holdings (YNS MK).
Key updates/news also took place on: Dentsu Soken (4812 JP), Golfzon Holdings (121440 KS), Energy One Ltd (EOL AU), and Avarga (AVARGA SP).


Asia-Pac Weekly Wrap: Dentsu Soken, Energy One, Yinson Holdings, Golfzon, Avarga

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sbi-holdings-inc" target="_blank" data-smartkarma-citation="entities:10928:1" rel="noopener">SBI Holdings (8473 JP)</a> wants to buy 20% of <a href="https://www.smartkarma.com/entities/base-inc" target="_blank" data-smartkarma-citation="entities:28353:1" rel="noopener">BASE (4477 JP)</a> out of 46.7% likely available. That's unlikely at ¥340; they'll have to bump to get those shares.</li>
<li>
<a href="https://www.smartkarma.com/entities/continental-aerospace-technologies-holding-ltd" target="_blank" data-smartkarma-citation="entities:15249:1" rel="noopener">Continental Aerospace Technologies (232 HK)</a> has played out nicely. There's still money on the table - just a question mark on timing for the distribution from "surplus cash".</li>
<li>
<a href="https://www.smartkarma.com/entities/mitsubishi-chemical-holdings" target="_blank" data-smartkarma-citation="entities:12781:1" rel="noopener">Mitsubishi Chemical (4188 JP)</a>'s turnaround narrative sees it trading rich (implied stub &amp; simple ratio) to ~51%-held <a href="https://www.smartkarma.com/entities/nippon-sanso-holdings-corporation" target="_blank" data-smartkarma-citation="entities:15756:1" rel="noopener">Nippon Sanso Holdings (4091 JP)</a>'s steady-as-you-go narrative.</li>
</ul>



SBI Holdings (8473 JP) wants to buy 20% of BASE (4477 JP) out of 46.7% likely available. That's unlikely at ¥340; they'll have to bump to get those shares.

Continental Aerospace Technologies (232 HK) has played out nicely. There's still money on the table - just a question mark on timing for the distribution from "surplus cash".

Mitsubishi Chemical (4188 JP)'s turnaround narrative sees it trading rich (implied stub &amp; simple ratio) to ~51%-held Nippon Sanso Holdings (4091 JP)'s steady-as-you-go narrative.


Last Week In Event SPACE: SBI/BASE, Con Aero Tech, Mitsubishi Chem/Nippon Sanso, Swire Pac, Jollibee

Guotai Junan International / Event-Driven

<ul>
<li>For August 2026, 13 new transactions (firm and non-binding) were discussed on Smartkarma (by the Quiddity team) with an overall announced deal size of ~US$7bn.</li>
<li>
The average premium for the new transactions announced (or first discussed) in August was ~33%; and a year-to-date average of ~45%.</li>
<li>The average premiums for transactions in 2025, 2024, 2023, 2022, 2021, 2020, and 2019 were 49%, 43%, 39%, 41%, 33%, 31%, and 31%.</li>
</ul>


For August 2026, 13 new transactions (firm and non-binding) were discussed on Smartkarma (by the Quiddity team) with an overall announced deal size of ~US$7bn.

The average premium for the new transactions announced (or first discussed) in August was ~33%; and a year-to-date average of ~45%.
The average premiums for transactions in 2025, 2024, 2023, 2022, 2021, 2020, and 2019 were 49%, 43%, 39%, 41%, 33%, 31%, and 31%.


Asia-Pac M&A [August 2026 Wrap]: Baudroie, EQT, Guotai Junan, Peet, Reliance Worldwide, Yinson

Malaysia

Yinson Holdings Berhad is an investment holding company. The Company, through its subsidiaries, provides offshore support services such as trading and logistics to the upstream oil and gas sector. Yinson Holdings' business also includes commodity trading.

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

Yinson Holdings (YNS MK)

Asia-Pac Weekly Wrap: Kakaku, Ingenia Communities, Albis, Sharingtechnology, Cygnus Metals

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

Bursa Short Interest Weekly (Sep 4th): RHB Bank, Greatech Technology, United Plantations, CIMB

We analyzed Bursa Malaysia short interest report for the past week and highlighted short interest changes in RHB Bank, Greatech Technology, United...

Ke Yan, CFA, FRM

Asia-Pac Weekly Wrap: Dentsu Soken, Energy One, Yinson Holdings, Golfzon, Avarga

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: SBI/BASE, Con Aero Tech, Mitsubishi Chem/Nippon Sanso, Swire Pac, Jollibee

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

Asia-Pac M&A [August 2026 Wrap]: Baudroie, EQT, Guotai Junan, Peet, Reliance Worldwide, Yinson

For the month of August, 13 new deals were discussed on Smartkarma with an overall deal size of ~US$7bn. The average premium for the new deals...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)