Equity Analyst, LightStream Research

Oshadhi Kumarasiri

An equity research analyst with over 7 years of experience in multiple sectors. Previously worked for one of the world's largest asset managers with about USD2.5trn in AUM, covering small and micro-cap companies in the consumer sphere across Europe and developed Asia. Also experienced in covering multiple industries including banking, insurance and asset management, retail, tech, telco and REIT.

Equity Analyst

Norges Bank Puts Kirin On a Watchlist Over Ties with Myanmar Military Linked JV

Kirin Seems Enticing from a Holdco Perspective, but Myanmar JV Still Poses Reputational & ESG Risks

Kirin: An End to Troubles in Myanmar JV Could Unwind the Multi-Year Low Holdco Discount

Kirin Capitalising on RTD [Ready-To-Drink] Boom While Closed Bars Drowns Asahi

Bega Cheese to Acquire Kirin’s Lion Dairy & Drinks at a 13% Discount

Kirin Restarts LDD Sale After China Mengniu Deal Falls Through

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Event-Driven

<p>Last week, <a href="https://www.smartkarma.com/entities/kirin-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:16977:1" rel="noopener">Kirin Holdings (2503 JP)</a>announced that the independent assessment of its Myanmar JV partner, Myanmar Economic Holdings (MEHL), failed to produce any results due to the lack of access to a sufficient amount of MEHL’s information. Kirin is expected to provide an action plan to resolve the issues relating to the Myanmar JV in April 2021. We believe the April 2021 action plan could be accompanied by an asset write-down and therefore suggests taking some money off Kirin before the April 2021 announcement.</p>

Last week, Kirin Holdings (2503 JP)announced that the independent assessment of its Myanmar JV partner, Myanmar Economic Holdings (MEHL), failed to produce any results due to the lack of access to a sufficient amount of MEHL’s information. Kirin is expected to provide an action plan to resolve the issues relating to the Myanmar JV in April 2021. We believe the April 2021 action plan could be accompanied by an asset write-down and therefore suggests taking some money off Kirin before the April 2021 announcement.

Kirin: An Asset Write-Down/Disposal Could Be Pending for the Military Linked Myanmar JV