Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

Toyo Construction (1890) Tries a Different Tactic - FEFTA!

Toyo Construction FY23 Profit Forecast - 105% Payout = 6.5%, Lots of Shares Changing Hands

YFO Goes Hard for Board Spill - Independents AND Executives

Toyo (1890) Says "We Reject". YFO Says "But We Didn't Talk". Medium-🌶🌶🌶 Hostile Activism To Ensue

YFO To Take the Fight To Toyo Construction's Board

Toyo Construction (1890) Investors/Traders Beware

Quiddity Advisors

Event-Driven

<ul>
<li>YFO continues its fight on Board governance. Toyo Construction has shifted so the Board and a Special Committee will now examine the input Toyo says YFO has not provided. </li>
<li>Toyo also objected because it said YFO's bid could not be sustained based on Toyo's economics. Toyo's fight should have been offence. With a new Medium-Term Management Plan, it is.</li>
<li>Toyo now promises strong revenue and double digit OP growth, and a ¥50/share (5.3%) dividend. Toyo is trying to pay off shareholders to support it against YFO. That's fair/good.</li>
</ul>


YFO continues its fight on Board governance. Toyo Construction has shifted so the Board and a Special Committee will now examine the input Toyo says YFO has not provided. 
Toyo also objected because it said YFO's bid could not be sustained based on Toyo's economics. Toyo's fight should have been offence. With a new Medium-Term Management Plan, it is.
Toyo now promises strong revenue and double digit OP growth, and a ¥50/share (5.3%) dividend. Toyo is trying to pay off shareholders to support it against YFO. That's fair/good.


Toyo Construction (1890) Plays Offence - A New Mid-Term Mgmt Plan with High Shareholder Payout