In today’s briefing:
- Asia-Pac Weekly Wrap: Atlas Arteria, ASM Clearview Wealth, Tourism Holdings, Ajinomoto Malaysia
- Weekly Deals Digest (28 Jun) – Makino, Shinko Shoji, Get Nice, Clearview, Ajinomoto, Anker, Momenta
- Gates Industrial’s Europe Comeback: Can ERP Recovery Reignite Growth?
- Can Sunrun Turn 19,000 New Customers Into A Distributed Power Plant Strategy?
- TFI International Is Not Just An LTL Story — Here’s Why Truckload Productivity Matters!
Asia-Pac Weekly Wrap: Atlas Arteria, ASM Clearview Wealth, Tourism Holdings, Ajinomoto Malaysia
- 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.
- One new deal was discussed on Smartkarma this week: Ajinomoto Malaysia (AJI MK)‘s Offer from parent, Ajinomoto Co (2802 JP).
- Key updates/news also took place on: Atlas Arteria (ALX AU), Australian Strategic Materials (ASM AU), Clearview Wealth (CVW AU), Tourism Holdings (THL NZ), and Changhong Jiahua (3991 HK).
Weekly Deals Digest (28 Jun) – Makino, Shinko Shoji, Get Nice, Clearview, Ajinomoto, Anker, Momenta
- A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
- ECM developments: Anker Innovations Technology (668 HK), Momenta Global (MOMENTA HK), Jio Platforms Ltd (1797135D IN) and Manipal Health Enterprises Ltd (1217834D IN) listings.
- Event-Driven developments: Makino Milling Machine Co (6135 JP), Shinko Shoji (8141 JP), Get Nice (64 HK), Clearview Wealth (CVW AU), Ajinomoto Malaysia (AJI MK), Tourism Holdings (THL NZ).
Gates Industrial’s Europe Comeback: Can ERP Recovery Reignite Growth?
- Gates Industrial Corporation reported first quarter 2026 results characterized by operational challenges related primarily to the recent implementation of a new enterprise resource planning (ERP) system in its European operations and the impact of two fewer working days compared to the prior year.
- These factors contributed to a reported core sales decline of 2.9% for the quarter, with European core sales falling approximately 8.5% year-over-year largely due to distribution inefficiencies and backlog buildup during the ERP transition.
- However, management indicated that March sales trends improved with core sales growth in March rising to mid-single digits and a book-to-bill ratio above 1.
Can Sunrun Turn 19,000 New Customers Into A Distributed Power Plant Strategy?
- Sunrun Inc. reported first-quarter 2026 results reflecting continued growth in customers and expansion of its distributed power infrastructure, complemented by ongoing adjustments in its business mix and capital deployment strategy amid evolving industry dynamics.
- The company added approximately 19,000 customers during the quarter, with a storage attachment rate increasing to 73%, reinforcing its focus on integrated solar and storage solutions.
- Aggregate contracted subscriber value reached $1.1 billion, exceeding guidance, while contracted net value creation approximated $108 million, near the upper end of the projected range.
TFI International Is Not Just An LTL Story — Here’s Why Truckload Productivity Matters!
- TFI International reported first-quarter 2026 adjusted diluted earnings per share (EPS) of $0.69, supported by a stable revenue base of $1.7 billion before fuel surcharges, consistent with the prior year’s quarter.
- Consolidated operating earnings stood at $97 million, reflecting a 5.7% margin, while net cash from operating activities was $122 million.
- The company maintained a solid financial position, generating $124 million in free cash flow during the quarter and ending March with a funded debt-to-EBITDA ratio of 2.6. Dividend payments totaled $38 million.
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