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

StubWorld: Jardine Cycle/Astra, Neowiz Holdings/Games

StubWorld: Jardine Cycle & Carriage Trading Wide; SingTel's Steepest Discount Ever?

StubWorld: JCNC In Unwind Territory As Astra's Bank Stake Stalls; Poor Stub Results Send Ayala Lower

Jardine Cycle & Carriage: "Buy The Fact" On MSCI Deletion

Astra International (ASII IJ) - An Auto-Recovery Story with a Golden Digital Twist

Astra International (ASII IJ) - Simmering Recovery Afoot

Quiddity Advisors

Event-Driven

<p><em>This week in StubWorld ... </em></p>
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<p><a href="https://www.smartkarma.com/entities/jardine-cycle-carriage-ltd" target="_blank" data-smartkarma-citation="entities:347:1" rel="noopener">Jardine Cycle &amp; Carriage (JCNC SP)</a>'s shares outperformed subsequent to the MSCI deletion <a href="https://app2.msci.com/eqb/gimi/stdindex/MSCI_Nov20_STPublicList.pdf" target="_blank" rel="noopener">announcement</a> on the 10 November, with the discount to NAV narrowing ahead of its deletion on the 30 November. JCNC has since retraced and is now at a multi-year low (i.e. multi-year high discount) to NAV.</p>
<p>The implied stub is at its lowest level since July 2015.  </p>
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<p>Preceding my comments on JCNC are the weekly setup/unwind tables for Asia-Pacific Holdcos.</p>
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<p>These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold - the $ value of the holding/opco held, over the parent’s market capitalisation, expressed in percent - of at least 20%.</p>
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This week in StubWorld ... 

Jardine Cycle &amp; Carriage (JCNC SP)'s shares outperformed subsequent to the MSCI deletion announcement on the 10 November, with the discount to NAV narrowing ahead of its deletion on the 30 November. JCNC has since retraced and is now at a multi-year low (i.e. multi-year high discount) to NAV.
The implied stub is at its lowest level since July 2015.  









Preceding my comments on JCNC are the weekly setup/unwind tables for Asia-Pacific Holdcos.


These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold - the $ value of the holding/opco held, over the parent’s market capitalisation, expressed in percent - of at least 20%.








StubWorld: Jardine Cycle & Carriage - Back To MSCI Deletion Levels