News & Insights #14; Big = Beautiful?

Investing in Small vs Large HK stocks *** Gaming Innovation Group *** Sintana

Hidden gems

• Gaming Innovation Group $GiG.ol / $GIGSEK.st; Do you remember these statements from Mr Juroszek?

  

  It turns out he really does not want to waste any time! He already crossed the 25% ownership threshold.

  

  

  GiG Media is also moving ahead quickly on the M&A front, as we noticed with two additional acquisitions recently. Nasdaq listing here we come?

HK 第部分

Some titbits from Hong Kong this week:

• Take private offers

• IPO’s

• Hong Kong Food Investment Holdings

• Take private offers

  Insiders are using their wallets to demonstrate that they believe HK stocks are absurd-cheap. The (partial) take private offers continue to drip in for HK stocks. After the recent offers for:

  • Asia Cement

  • Hengdeli

  This week, I noticed offers for:

  • $0389.hk China Tortine Wines

    

  • 0638.hk Kin Yat Holdings

    

    

• IPO’s

  Friday was a busy day, with 9 global offering filings.

  

  

• $0060.hk Hong Kong Food Investments Holdings

  HK Food does not look too interesting to me in this quick screen. HKD 100m market cap <enterprise value> (correction: I noticed that I mixed up, market cap HKD 140m with the EV from TIKR.com of HKD 100m) food distributor with a 29.99% / HKD 380m book value investment in another food distributor; Four Seas Mercantile Holdings Limited (FSMHL). The HKD 380m book value looks overstated to me, given the investment brought in cHKD 10m in net profits to HK Food.

  2024/06/28 2024-03 FY results

  • P&L

    

  • Balance sheet

    Associates: 29.99% interest in Four Seas Mercantile Holdings Limited (FSMHL), a food distributor

    

  • Segment disclosures

    • the trading segment is engaged in the trading of frozen meats, seafood and vegetables in Hong Kong;

    • the catering segment is engaged in restaurants operation in Hong Kong; and

    • the “others” segment consists of communication and advertising design.

    

    

    

  • The Board does not recommend the payment of any dividend in respect of the year.

  • Frozen Meats Trading

    

  • Catering business

    

  • Other business

    “growing steadily” » looking at the numbers, however, revenue was down to HKD 3.954m, from HKD 3.898m

    

  • Food Business