David Blennerhassett

19+ years covering Asia-Pac event strategies

[David Blennerhassett @davidjblenner]

For previous posts/research on Aussie/Kiwi events, please refer to: https://t.co/qgUZmE2K1y

[David Blennerhassett @davidjblenner]

Atlas Arteria (ALX AU): The IE Says NOT Fair & Reasonable. All Eyes On Skyway's Put Option

Intriguing situation. The 45% acceptance threshold remains doable despite a hostile situation and considerable IE/IBC pushback. If not in, I'd be picking up shares on weakness.

[David Blennerhassett @davidjblenner]

For subscribers to @smartkarma, read more about it at the link below (or see the stack link in my bio):
https://t.co/7MmnKnwhjx

[David Blennerhassett @davidjblenner]

For previous posts/research on Aussie/Kiwi events, please refer to: https://t.co/qgUZmE2K1y

[David Blennerhassett @davidjblenner]

Tuas (TUA AU): Even IF In Breach, This Is A Buy

Despite an uncertain backdrop, Tuas' share price appears unduly beaten up here. Yes - absent the M1 merger, it remains Singapore's budget operator. But this is still a short-term buy.

[David Blennerhassett @davidjblenner]

For subscribers to @smartkarma, read more about it at the link below (or see the stack link in my bio):
https://t.co/J94kmsjIiP

[David Blennerhassett @davidjblenner]

For previous posts/research on Aussie/Kiwi events, please refer to: https://t.co/qgUZmE2K1y

[David Blennerhassett @davidjblenner]

Atlas Arteria (ALX AU): IFM Makes Its Move
Atlas does boast low risk, stable yielding, toll road assets. And there are little to no viable options, in size, in Australia's listed infrastructure space. Atlas and IFM don't see to eye to eye - a rejection of the Offer is conceivable

[David Blennerhassett @davidjblenner]

For subscribers to @smartkarma, read more about it at the link below (or see the stack link in my bio):
https://t.co/8TbjlplhFt

[David Blennerhassett @davidjblenner]

For previous posts/research on Aussie/Kiwi events, please refer to: https://t.co/qgUZmE2K1y

[David Blennerhassett @davidjblenner]

Qube (QUB AU): 16th June Vote On MAM's

SchemeTrading tight at a 2.7%/10.9% gross/annualised spread - net of the intrerim divvy -  even when factoring in franking credits for those who can take advantage; and noting ACCC may still raise a SOI.

[David Blennerhassett @davidjblenner]

For subscribers to @smartkarma, read more about it at the link below (or see the stack link in my bio):
https://t.co/rG5WI7f8An

[David Blennerhassett @davidjblenner]

For previous posts/research on Hong Kong events, please refer to: https://t.co/HqsXFKflKR

[David Blennerhassett @davidjblenner]

ENN Energy (2688 HK) Is A Buy

There is material upside to ENN Energy shares here.  Plus the FY25 divi of HK$2.35/share should be added. The implied discount for ENN NG's Hs is unrealistic. A share borrow is available.

[David Blennerhassett @davidjblenner]

For subscribers to @smartkarma, read more about it at the link below (or see the stack link in my bio):
https://t.co/oBgt8ehFKe

[David Blennerhassett @davidjblenner]

For previous posts/research on Hong Kong events, please refer to: https://t.co/HqsXFKflKR

[David Blennerhassett @davidjblenner]

CKK (1 HK): "New And Perhaps Unforeseen Challenges"

At a ~53% discount to NAV and a forward P/B of 0.40x, CKH is inexpensive.  Near term, expect CKH to drift sideways. Longer-term, this is a buy. Overhangs include ongoing geopolitical and regulatory scrutiny; and ME instability

[David Blennerhassett @davidjblenner]

For subscribers to @smartkarma, read more about it at the link below (or see the stack link in my bio):
https://t.co/K9uDGjjZMM

[David Blennerhassett @davidjblenner]

For previous posts/research on Aussie/Kiwi events, please refer to: https://t.co/qgUZmE2K1y

[David Blennerhassett @davidjblenner]

BlueScope (BSL AU): SGH And SDI's Latest NBIO - What Say You AusSuper?

Revised terms are close to SDI's NBIO last year, which was rejected. BlueScope has zero net debt. The USA ops are undervalued. And structurally/politically moated. AustralianSuper should reject terms.

[David Blennerhassett @davidjblenner]

For subscribers to @smartkarma, read more about it at the link below (or see the stack link in my bio):
https://t.co/E7DrjkG5of