Equity Long-Short

Mo Aziz

Capital markets veteran with 25 years across sell-side and buy-side research, investor relations, and fund management. Currently publish independent equity research (Mofferies Investment Research, via Smartkarma) spanning semiconductor memory (DRAM/NAND/HBM), foundry, semiconductor equipment and advanced packaging, gold and cross-asset strategy, financials forensics, and APAC IPOs — with a standing watchlist of 190+ companies across 41 countries. Background includes deep aviation-sector expertise (airlines, airports, OEMs, lessors, air cargo, travel/OTAs). Approach centers on identifying cyclical inflection points and mispriced risk across sectors, translated into explicit, actionable calls.

Event-Driven

<ul>
<li>Ajinomoto Japan (2802 JP) proposes to privatise its 50.4%-owned Malaysian subsidiary at RM20.00/share via SCR</li>
<li>A multi-method valuation — PE, EV/EBITDA, M&amp;A precedents — supports a fair value range of RM24–30, with RM26.20 as the primary anchor; the offer price sits 24–50% below this range.</li>
<li>Probability-Weighted scenario analysis yields an expected value of RM23.02; with deal-break downside limited by AJI MK's underlying quality, the risk/reward favours rejection pending a revised offer.</li>
</ul>


Ajinomoto Japan (2802 JP) proposes to privatise its 50.4%-owned Malaysian subsidiary at RM20.00/share via SCR
A multi-method valuation — PE, EV/EBITDA, M&amp;A precedents — supports a fair value range of RM24–30, with RM26.20 as the primary anchor; the offer price sits 24–50% below this range.
Probability-Weighted scenario analysis yields an expected value of RM23.02; with deal-break downside limited by AJI MK's underlying quality, the risk/reward favours rejection pending a revised offer.


Ajinomoto Malaysia (AJI MK) Privatisation at RM20: Opportunistic Lowball — Hold Out for RM26.20