Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

Lian Beng: The Family Bumps. Still <50% of NAV

Quiddity Advisors

Event-Driven

<ul>
<li>In response to media feedback calling out the low-balled Offer, the Ong family bumped the Offer Price for <strong><a href="https://www.smartkarma.com/entities/lian-beng-group-ltd" target="_blank" data-smartkarma-citation="entities:17636:1" rel="noopener">Lian Beng (LBG SP)</a></strong> by 9.7% to S$0.68/share and declared terms final.</li>
<li>At 0.43x P/RNAV, and with the bulk of the assets related to investment/development property, the price was still wrong,  </li>
<li>The Circular is now out. The IFA considered terms to be not fair and not reasonable. The same opinion as in the 2021 Offer.</li>
</ul>


In response to media feedback calling out the low-balled Offer, the Ong family bumped the Offer Price for Lian Beng (LBG SP) by 9.7% to S$0.68/share and declared terms final.
At 0.43x P/RNAV, and with the bulk of the assets related to investment/development property, the price was still wrong,  
The Circular is now out. The IFA considered terms to be not fair and not reasonable. The same opinion as in the 2021 Offer.


Lian Beng: Circ Out. IFA (Rightfully) Says Not Fair