bullish
Last Week in Event SPACE: Shinsei Bank, Jardine Cycle, Keppel Corp, Eagle Cement, Hitachi Transport
310 Views09 Oct 2022 07:52
SUMMARY
- SBI Holdings (8473 JP)'s subsidiary has reportedly filed its application to become a Bank Holding Company, the definition being a company holding a 50% or greater stake in a bank.
- Jardine Cycle & Carriage (JCNC SP) is expensive here - relative to historical values - and from an implied stub perspective, has only briefly been exceeded twice in the last decade.
- Expect Keppel (KEP SP) to re-rate after the spinoff. The Sembcorp Marine (SMM SP) distribution supported by both better profitability and much larger order books can be managed reasonably cleanly.
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