Wilson asset management significantly increasing their holdings in a company that they most recently promoted being Ardent Liesure (ALG) Wilsons believe that $100 million has not been accounted for in the share price for ALG themepark assets in Queensland and sees significant share price upward movement moving forwards.
QBE not the sexiest of sectors insurance but with rates about to go up, you've got premiums going up, the writing seems to be on the wall for increased coverage which in turn places greater money into the back pocket of insurers. As recently reported in quarterly reports QBE has also streamlined its business model making it more leaner, meaner and thus, more profitable
I took some notes on the call today, but before I started writing, I saw Matt Joas and an analyst from VGI Partners on the call. I think they are interested in the business and are doing further due dilligence before thinking about investing. Institutions are interested in Janison, hopefully having them on the register can improve the liquidity in the stock.
Here are my notes:
Janison recently announced China is added to the OECD PISA based test for schools exams. They now have around 9 countries out of 90 countries conducting the benchmark test. China is apparently a large country with some of the largest education providers in the world.
Janison will not be the National Service provider, but they will be the technology provider. Now, if Janison was a normal technology business, they would have to compete with companies like Alibaba and Tencent to provide the infrastructure. However, as this is an OECD contract, China has no incentive to target technology providers as everyone receive the same benchmark report. Usually tech companies get wiped out by the large players, Janison is a rare case where that doesn’t apply. For the long term shareholder, we want contract to be renewed in 2024. If they can do that, then they will sustain their competitive advantage.
The latest update on the number of schools that have already completed the PBTS warrants a revaluation of the business. A couple of years, management was targeting $100M in revenues by 2025 and I thought it was a joke especially with the new CEO. Now, not so much. More on that on the valuation update ;)
Companies like Brainchip trading on future cash flows vs Janison who are displayig their competitive advantage with the market oblivious. I’ll take Janison all day.