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Show Notes
Investec MD (M&A and Equity Capital Markets) Nanda Kumar Menon discusses :
- SPACs - an alternative vehicle for mining assets
- Malaysia was historically a mining country- Independence of banks
- finding a balance between straddling roles of M&A/ECM and investment advisory
- Investment banking fees vs plumber
- M&A valuations- a subjective assessment of what upside is
- IPO price jump - part of the business’s cost of financing - should always leave something on the table for investors
- Privatisations: - shield restructuring process from very short term market demands
- reward to privatiser for risk-taking during unlisted period
- M&A trends - natural resources demand still strong especially from China and India
- Fast depleting supply as well - scarcity driven M&As
- Mining assets long gestation periods - important to plan for supply
- Recent price crash of gold - just a little correction in the long term bullishness?
- Gold is harder to correlate to GDP - very much a probability game based comparing current prices to estimated future demand going coming from govts and consumers
- SPACs are interesting because it brings mining co’s to msia which are usually listed overseas
- Mining is alternative to Oil & Gas sector which Malaysia is strong in
- The risk assessment processes for investors are similar
- The source of a lot of mining investment funding actually comes from Asia
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