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

Swire (19 HK) Trading Cheap. Heading Cheaper On Cathay Woes

StubWorld: Naspers At A Look-Through Discount Of 52%

Holdcos: Charts Amongst The Carnage. Part 2. Hong Kong, Taiwan and ROA

Quiddity Advisors

Event-Driven

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<p>This week in StubWorld ...</p>
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<p>Swire's discount to NAV, like any number of Holdcos, has widened dramatically YTD. </p>
<p>Swire is "cheap" versus <a href="https://www.smartkarma.com/entities/swire-properties-ltd" target="_blank" data-smartkarma-citation="entities:5775:1" rel="noopener">Swire Properties (1972 HK)</a> and beleaguered <a href="https://www.smartkarma.com/entities/cathay-pacific-airways-ltd" target="_blank" data-smartkarma-citation="entities:243:1" rel="noopener">Cathay Pacific Airways (293 HK)</a>. Of interest, <a href="https://www.smartkarma.com/entities/swire-pacific-ltd" target="_blank" data-smartkarma-citation="entities:23726:1" rel="noopener">Swire Pacific Ltd-Cl B (87 HK)</a> has outperformed the As during this market upheaval.</p>
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<p>Preceding my comments on Swire 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 ...



Swire's discount to NAV, like any number of Holdcos, has widened dramatically YTD. 
Swire is "cheap" versus Swire Properties (1972 HK) and beleaguered Cathay Pacific Airways (293 HK). Of interest, Swire Pacific Ltd-Cl B (87 HK) has outperformed the As during this market upheaval.

Preceding my comments on Swire 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: Respite For Swire's Bs Amidst Cathay's Hard Landing

Swire Pacific (A)

StubWorld: Respite For Swire's Bs Amidst Cathay's Hard Landing